We all know that in order to be successful in business that relationships make up a big part of your success. You’d always heard the term that it’s not what you know but it’s who you know that really matters. As much as I hate to admit it, I’ve seen it time and time again in the business world.
Successful people usually gain their success from relationships they’ve made throughout the years in business. One simple acquaintance can turn in to millions for years to come for the right people.
Let’s pump the brakes here just a little though and talk about why networking and relationships are so important. It’s called referrals. Once people know that you’re involved in a certain type of business or niche, they are more likely to send people and customers your direction.
Of course networking alone will not gain you new customers and business. You must also build a good reputation of quality goods and or services. That again comes from your companies’ own performance but once again word of mouth with soon begin to snowball if you take care of your clients and customers in the proper manner.
There is also an advantage to joining a business and marketing networking group. Not just the social media groups on Facebook, LinkIn, and Twitter but real life in person groups.
Some refer to the groups as B and E groups. Normally in this type of group they have a monthly gathering where one or only a few types of businesses are allowed in. The are constantly looking to diversify the type of business they allow in but they aren’t looking for say two attorneys. Nor do they want two roofing companies or landscapers.
What these groups try and do is share their business plans and market to one another. From here they make an oath to only use other companies from within the group for their needs. The refer one another to other friends, family members and clients.
These type of business relationships help forma web of commerce between the members of the small society. Each business then gets ideas on other business ventures and marketing ideas that others have had success in in the past.
Each member will usually be assigned a month or meeting or partial meeting where they will be required to speak on their goods and services or bring in another speaker from the community that will speak in front of the members at one of the monthly meetings.
each member of the business networking group also pays yearly membership fees to keep the group going. The value one receives from a properly managed B and E group can be tremendous. Only if the small business owner is getting a good return on investment will they then decide to rejoin the group year after year. If not, the b and E group will be out recruiting another member from the lost group member’s niche.