Why Business Networking Is Important

Posted by Hubert Yarborough on 7/6/16 1:30 PM
Hubert Yarborough
Find me on:
Posted on: July 6, 2016

Whether you are running a business or developing your career, networking is essential to building and maintaining business relationships. Effective networking takes practice and preparation, but moreover it takes patience.

Tom Farley, President of the NYSE, stated in Fortune Magazine, “Networking is about collecting relationships with interesting or influential people irrespective of the immediate benefit of these relationships.” I wholeheartedly agree. Often the time, energy, stress and money we put into going to non-profit galas, Chamber of Commerce celebrations, leadership functions and business grand openings are dismissed as a waste of time and a burden on your social and family calendars. But I truly believe that coordinating networking opportunities at least once or twice a month is a great investment in your future. 

Here are 3 reasons why business networking is important:

  1. Builds character: Networking in a variety of environments with a diverse group of people that represent multiple industries builds character. The more you interact with others and tell your business story, the more confident you become. Also your listening skills will improve. Eventually you’ll find yourself relaxed and having fun and making new contacts.
  2. Widens your circle of influence: Networking helps raise awareness of your name and the name of your business. You want people to remember YOU in all the right ways and spread your name and business among their peers and colleagues.
  3. Forces you to practice your pitch: The more people you interact with at networking events, the more opportunities you’ll have to tell your story. It’s important that you have a refined proposition that you can pitch in 15 seconds or less. The more you practice, the better you’ll be received.

Investing your time and effort in networking should be an essential part of your job. It’s important to remember that networking is not selling, but rather it’s opening the door to new opportunities. Look at the big picture: networking is more like running a marathon than sprinting. With patience, preparation and smart execution, the dividends of business networking will benefit you and your business.

Topics: Featured, Leadership

Subscribe to our Blog for Fresh Weekly Content

Quiet Quitting: What Employers Need to Know
Featured

Quiet quitting. It’s a movement that’s been trending for the past two years . Gaining ... Read More

Women in the Workforce: From Progress to Shecession
Featured

The stress of the pandemic caused many women to reevaluate their working status. Here are ... Read More

HR Trends for 2023
Featured

New and emerging trends continue to reshape the workplace and impact the role of Human ... Read More

hr-division-blog-article

HR Division of Propel HR

The HR Division is made up of a team of professionals with a vast level of experience and HR expertise, assisting organizations of all sizes and within a wide variety of industries. They readily partner with clients to address strategic and compliance challenges surrounding the employment life-cycle and the ever-changing laws that regulate it. Inquire below about how they can help you!