Networking is the key to growth for women entrepreneurs. In the world of business and entrepreneurship, networking takes you places that your skills might not. Not to underestimate the power of quality of skills, but a strong network can yield greater results.
Networking, in the general sense of the word, refers to the interchange of ideas among people belonging to a common profession or coming from similar fields in life. However, it holds greater spaces in business and entrepreneurship terms. Here, it is the act of developing and maintaining contacts that can lead businesses to meet their needs. In an entrepreneurship venture, it depends a great deal on who you know.
Sallie Krawcheck, CEO and Co-founder of Ellevest, says that ‘Networking is the number 1 unwritten rule of success in business. Women can make their businesses grow through networking. In entrepreneurship terms, especially at the beginning, there is a time constraint that limits performance outcomes greatly. However, having the right connections can fast forward the process and help with challenges that are more or less universal in nature.
Furthermore, the concept of networking overlaps a great deal with the utilitarian approach. When people receive benefits through networking, they feel morally obliged to return the favor. Thus networking is a win-win situation for people in business who utilize it efficiently.
Reasons Women Network Less
The ability to network strategically needs a boost among women entrepreneurs. It is important for the limited number of women in entrepreneurship to develop networking in order to build stronger and greater opportunities for other women. It is especially of utmost importance for emerging women entrepreneurs.
However, studies have depicted that women's professional networks are more often than not less effective in terms of exchanged benefits. It is due to a variety of reasons ranging from extrinsic barriers to self-imposed intrinsic barriers. The power structures that prevail within authority networks are one thing that may prevent women from networking greatly, but hesitations to utilize social ties in an efficient manner appear to be the main reason.
So if you have ever wondered how networking can help boost your business, read on to find out.
Networking Makes Way For Greater Opportunities
Networking is the fastest and possibly the most effective way of attaining and creating opportunities. The myriad of social contacts offers great utility for everyone in the business. Thus, leveraging the network ties and strategically utilizing the networks can lead to opening up great opportunities.
Expanding resourceful and meaningful contacts create better and enhanced opportunities for business, personal development, and advancements in career. With networking, you have a greater chance of availing yourself of opportunities through connections with the relevant people in your field.
You also have an improved chance of accessing opportunities that you might not be able to otherwise since the gist of networking is in finding potential candidates and relevant people through social contacts.
Thus, when you enhance your networking skills you form trustworthy connections. Regular engagement with contacts can also help you be a source of network for others. It strengthens work contacts and works at a firm foundation of support.
"Networking is more about farming than it is about hunting. It is about cultivating relationships. Don't engage in 'premature solicitation. You'll be a better networker if you remember that".
Ivan Misner
It Brings Better Career Advice For Women Entrepreneurs
Networking is the business balance of giving and receiving. Thus for entrepreneurs, it is important to build connections with people who are experts in their relevant fields. The norm of giving and receiving forms a basis of trust, which in turn fosters the act of giving and taking advice.
In the general sense, people are more likely to receive and act upon advice from people they trust. It is a powerful driver of career advancement and assessing if you are on the right track.
For example, when you have a strong network of people who are experts in the field of business that relates to your field, you are more likely to gain useful advice.
Go for effective techniques like active listening and authentic connections. Seek honest, straightforward answers, because the incomplete and poorly communicated answers can cost you your business. Build communication skills that help you best convey your concerns and understand the answers.
It Helps You Grow Your Personal Profile
Making contacts is a great and efficient way to generate new ideas and develop new perspectives. It works a great deal by exchange of ideas that revolve around challenges, goals, experiences, and lessons; all crucial points to be considered in business. It allows you to delve into completely new insights you might not have considered before.
Moreover, it is a great deal to grow your personal profile in your relevant field. It is often emphasized that you are who you connect with. And who you connect with has a great impact on how your business venture is perceived across the arena.
It can also help you build your personal brand. When you engage in value-driven networking activities, your personal brand builds at an incredible rate. Remain active on social media, attend events, and offer valuable content through your online presence.
It Helps You With Increased Visibility
In the global sphere of entrepreneurs, it is easy to go unnoticed until your idea attracts thousands with similar interests. However, if you build strong networking skills and engage in networking activities, it is more likely that you will be visible to people in a similar sphere.
Gaining visibility in your concerned fields of business helps drive effectiveness. Moreover, when you network, promote your personal as well as professional values. Foster values of reliability, support, and intelligence. Work on your personality traits and bring in positivity.
The values that you project make you trustworthy and people remember you. Thus, helping you gain more visibility among the hoards of people.
Networking Allows Your Confidence to Boost
While networking brings in many positive things for you, it also gives you a confidence boost. Talking to different people on various occasions, often unplanned, on a myriad of topics improves your communication skills. Eventually, you develop a sense of trust in your knowledge while you work on improving your personality traits.
Confidence brings even more opportunities because a confident person is more likely to attain opportunities. It helps you develop a sense of faith in your capabilities and judgment. It allows you to be comfortable with your own approval, thus helping you communicate more effectively with your network.
Networking not only works wonders in growing your business, but it also helps you grow into a person who is open to new ideas, who embrace diversity, and who is willing to take risks. Success is directly linked to networking skills. When you constantly aim at boosting your career through your networks, you will need to remain consistent and resilient. As Lydia S.Hu says "It may be difficult in the beginning, but networking is a skill that pays dividends so I suggest investing now".
When you network, you market your skill-set and your capabilities. Make it a point to market yourself well, so that opportunities that come your way are worth availing of. And also make a point of being a useful network for others, this matters the most.
