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Networking connects people to uncover opportunities, increase knowledge or share information. Even more simply, it’s getting to know people and building relationships.

You can gain over 70% of new business through word of mouth, and networking should be an integral part of your marketing strategy. Some people are afraid of networking, but the truth is, you network every day – with your family, your work colleagues and with friends at social events.

In the early stages of your business it is easy to suddenly become isolated and lose touch with what is happening around you, and you may miss out on opportunities that could be vital to your business. As well as identifying new business opportunities, networking allows you to share ideas, experience and good practice, meet inspirational role models, combat isolation by making new contacts, increase your confidence and self-esteem and build long term relationships.

Successful Networking depends on developing business relationships with others who place a similar importance on this approach. You probably have a number of these relationships in place, but it can be difficult to generate enough in a small business where you work with a limited number of clients & suppliers.

When you find a group where you feel conformable there is one huge benefit and a shared commitment to building business relationships. As you develop a high level of trust with others in the group you are able to:

• Specialise in what you are really good at
• Reduce your costs of selling
• Reduce risks
• Work with other companies on larger projects
• Improve credibility
• Give & gain specialist information
• Give & gain hard to get business intelligence
• Give & gain referrals

We share our top tips with you on how to network effectively in our latest blog.