Is Networking Actually Beneficial?
By: Vince Killen, Executive Director at Kawartha Lakes CFDC
Is “Networking” just another buzzword, or are there benefits to engaging in this long-standing business tradition? When done properly and with the right intentions, I believe networking can be incredibly valuable to professionals at all points in their careers. In fact, I’ve built my entire career based on networking and developing meaningful relationships with like-minded business professionals.
When growing a business, developing a personal brand, or embarking on an entrepreneurial endeavour, it’s important to have the right people around you to help you with the parts of business that you’re unable to navigate on your own. Whether you choose to join a small business group, seek out a mentorship, or attend industry networking events, there are countless benefits to actively stepping outside your business to interact with other professionals.
It’s more than just a one-sided relationship.
When you think of networking in the traditional sense, you might envision going to stuffy cocktail parties where people are handing out business cards like they’re playing a game of hot potato. The word itself might fill you with dread as you remember networking events that seemed to be filled with salespeople trying to push their own agendas and who are not actually interested in a genuine interaction.
Thankfully, those days are over. Networking in 2023 is about developing meaningful relationships and establishing your roster of valuable and talented people who can help propel your business forward.
As with all new relationships, networking should be focused on developing genuine connections with people over the long term. It’s unrealistic to meet someone at a party and expect to start doing business with them the following week. Approaching networking in the same way as building a friendship with a new neighbour can help you remain focused on developing that authentic connection.
What if networking is challenging for you?
If you enjoy meeting new people and are looking to expand your opportunities, networking can be a valuable tool. However, if you find networking challenging or have a difficult time connecting with people at a big event, there are many other ways you can engage in networking activities. Here are some examples of ways you can connect with other business people in the region to help you grow your virtual rolodex:
1. Attend workshops
If a big “networking event” feels a bit overwhelming or disingenuous, you can consider joining smaller seminars or workshops to meet new people and develop your skills. Not only will you connect with other like-minded people, but there’s an opportunity to develop a relationship with the instructor or host of the workshop. This direct link to a topic or industry expert in your region can be a valuable resource, with many instructors willing to share their experience and intel with participants.
If you attend a workshop, consider sending a thank you email to the instructor and following them on social media to stay connected with them and updated on future events or learning opportunities. You can also exchange contact information with other participants to stay connected and keep the doors of opportunity open for future collaborations.
2. Plan regular coffee dates
If one-on-one communication is easier or preferred, you can consider reaching out to various business people in your community and inviting them for coffee. This can be a great way to have a natural conversation without the pressures of other people trying to speak with you or your guest. Consider setting a goal to meet with one new person a week and prepare some questions for the individual to ensure you’re making the most of your time together.
When reaching out to potential coffee dates, consider how you might benefit from this new relationship and what you have to offer in return. Be intentional about who you invite and up-front about your intentions to ensure you’re respecting your guests’ time. Follow-up with them afterwards to keep in touch and remain top-of-mind for when an opportunity arises for a future partnership.
3. Join a charity group or Board
If your goal is to grow your business and expand your opportunities to connect with other business owners in the community organically, it might be helpful to join a charitable orgnaization or become a Board member. As someone who is personally part of many local organizations, I can attest to the importance of giving back to the community through charitable efforts and the benefits of the connections I’ve made while doing so.
Offering your services or expertise to advance a local cause can demonstrate your abilities to other members or volunteers, who might not otherwise know your professional capabilities. It’s also a great opportunity to see the skills of other members who you can connect with for assistance with your business. Volunteering allows you to connect with others who have similar interests while making a meaningful impact in the community.
4. Host your own workshop
At LAUNCH Kawartha, we have many opportunities to host business skills and professional development workshops that cater to the needs of the business community. It’s one of my favourite things to watch these connections happen in real time and see the participants gain insights and develop new friendships from a single workshop. As an instructor, it’s a wonderful opportunity to share your knowledge with others, gain first-hand feedback from potential clients on their pain points, and connect with others on a personal level.
If you’re interested in hosting your own workshop at LAUNCH, we are always looking for business professionals to connect with. You can check out our events page to see past and upcoming events or register for a workshop. If you have an idea for a future workshop or event, connect with me directly to see how we can work together to make it happen.
Connections are the basis of any successful and thriving business. Re-imagining how we network with others and build our professional ecosystem can help you build genuine relationships that can help you grow your business. And isn’t that what life is all about? In personal life and in business, it’s who you know and the value of your relationships that move you forward and help you grow.