Networking is one of many helpful resources to explore for your small business. If you've started a small business (or are on your way to starting one), there's a high chance that you've heard the term "networking" at some point in your career. But what exactly is networking, and why is it important?
What Is It?
There’s not one all-encompassing definition for networking but, generally, networking is about building connections and sustaining enduring, mutually beneficial relationships.
Why Is It Important to My Business?
The value of networking can be boiled down to two components: learning from others and building connections. First, networking provides the opportunity to gather insights from like-minded business owners. They can often provide invaluable field-specific advice. Second, networking allows you to build connections. It can provide you with opportunities to talk to highly successful people, who can then potentially generate business referrals, provide opportunities, and raise your business profile among their circle of business colleagues. Relationships with the right people are a catalyst for your business’s success.