Networking your business is one of the optimal things you can do to have long term success and grow in your business. Broadly speaking, networking is utilising your professional and personal contacts to advance and build positive relationships and a solid reputation. Networking to grow your business is equivalent to personal networking. Both options grant access to chances that may have been missed on your own. In this blog, we would like to give you some tips on how networking your business can improve your relationships with clients and with your team as well as suggestions on how you can network. If you would like more information or are in need of business growth advice, reach out to Taggart & Partners today on (07) 3391 1188.

Benefits of Networking Your Business

Relationships

Networking your business helps you build trust. Your peers, and potential clients, come to learn that your business gets the job done and follows through on its promises. From this trust friendships are created which can lead to stronger bonds, new ideas, opportunities, and growth.

A shared pool of knowledge

Networking is great for exchanging experiences, ideas and knowledge. This can be a team meeting to evaluate and assess recent work or sitting down with a client to chat about and follow up on a project. Anything that allows you to expand your point of view and learn will aid you in the future.

Mutual benefit

Knowing what you are good at and when you need help with something is a sign of wisdom. Networking lets others know what you have to offer as well as giving you resources to work with. The mutual support offered through networking your business benefits everyone in the network. Helping out your friends is always appreciated and often reciprocated.

Internal networking

So far, our advice has focused on external networking, connecting with others outside of your business, but let’s take a look at the merits of internal networking, connecting with those inside your team, and the advantages it offers.

Greater engagement

Having a strong internal network helps your employees improve their own skills and abilities. Their knowledge increases, which feedback to helping the business, and they can see how they may personally benefit through advancement.

More retention

A healthy internal network fosters connections and purpose. When employees feel connected, they are more likely to stay with an organization. They feel they are actually part of a team with a mission.

Flow of information

Your employees can spend a lot of time asking and answering questions. Having a good internal network facilitates this process and allows it to happen efficiently. Freely sharing knowledge helps everyone to work and learn together better.

Networking to build employee relationships

Here are some suggestions you can use to generate and build upon employee relationships.

  • use social networks to form chat groups
  • establish an organizational culture that encourages and values the sharing of information
  • host events across departments – this helps encourage interdepartmental groups groups to develop and communicate with each other
  • go to events as a team
  • be friendly and welcoming

Some more helpful tips

All the employee suggestions can be used to help your business but here are a few other tips too.

  • have a few business cards ready at all times
  • attend conferences and trade shows
  • after attending events, follow up with a short email – a simple message reminds others that you have met
  • ask questions and listen to the answers
  • ask for help – you will get the best help from the experts

Would you like to know more?

At Taggart & Partners our team of business accountants can help personalise business solutions to your needs. If you need help or have questions about networking your business or questions related to your individual circumstances, contact us online or call (07) 3391 1188 to get started today!

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