If I have to get something done with the help of someone, the easiest way would be to scroll down my phone contact list. In the process, I might find some contacts that have rarely been used but are still there for a “just in case” scenario.
Business Networking is a similar “phonebook” exercise that revolves around establishing a mutually beneficial relationship that can be leveraged as and when required.
Benefits of Business Networking
- Contacts and Referrals – the most obvious and self-explanatory benefit.
- Visibility – some businesses in need might just reach out to you.
- Staying Current – to know the ongoings in your target market/industry.
- Sharing Knowledge and Experience – geeky but very true.
- Problem Solving – in the hope that someone will reply.
India-centric Business Networking Groups
- LinkedIn – need I say more!
- BNI India – In 2020, BNI India has over 737 chapters with 34,705 members, locally passed over 19,76,333 referrals, which generated INR 13,356 Crores in closed business. That’s an average of ₹ 68,536 per referral.
- ZoopBusiness – an online business referral platform for entrepreneurs & business owners, which works on word-of-mouth recommendations.
Business networking has the capability to bring you a steady stream of new customers. By leveraging your business connections, you can interact and educate your connections about your business, and possibly convert them and their connections into clients. Nonetheless, it’s a great place to build long-lasting business relationships.