Business Success and the Art of Networking

Networking is about creating a support system for your business. It can help you raise money attract employees or partners and even offer a fresh perspective.

Networking is a non- starter if you start with the end in mind. This is even true when one thinks of networking in the business context. Business networking is not merely about exchanging cards and few laughs over dinner, its about looking for ways to help each other grow symbiotically. It is a process which helps to build relationships and develop the support system for the entrepreneur and his business.

Any successful entrepreneur will tell you that a network of contacts can add value only if you know how to add value to each one of them. If you want to know the secret to building the network which will help you, you have to learn to understand other peoples problems and challenges first. You have to be ready to give first and demand later.

The art of networking is not an easy one. Most young entrepreneurs find that it is easier to build upon an idea than to develop a network of contacts. The best bet for young entrepreneurs is to participate in forums that are provided by business networking professionals like Business Networking International (BNI), The Indus Entrepreneurs, and even online networking sites like Ryze and LinkedIn. These have regular mixer meets- where new entrepreneurs have an opportunity to interact with more experienced entrepreneurs and take the concept of organised networking very seriously.

Such forums result in a place where business supply and demand have a command ground. For eg: people who require funds can connect with people who want to invest funds, and there is always the possibility of finding a new business.

It is an opportunity for new entrants to gain an insight into the minds of biggest and the best in business. Its not just a platform to help entrepreneurs interact but also a responsibility to educate and inspire them. Entrepreneurs have to be realistic about what they can get from networking opportunities.

Essentials of Networking:

1. Look at building relationships, not a database.

2. Networking events are not always buyer- seller meets.

3. Aviod western rules for networking. India and Indians have a different approach.

4. Learn to give, seek the giver's gain.

5. Listen and understand others business first.

6. Look at ways of growing your network through giving

7. Learn to distinguish between networking and fund raising events.

8. Networking events should be informal.

9. Follow up with people or suggestion for people you meet at an event.

10. Do not just collect visiting cards, get to know people.