Business Education

Most Effective Networking Strategies Successful Entrepreneurs Practice

Networking strategies can really help grow a business. But of course, you must put in the time and effort for any networking opportunities to achieve a tangible ROI. Statistics vary, however, many reveal it takes up to seven contact points before landing a sale. Regardless of these figures, the time-honored practice of networking pays off. (If it didn’t people wouldn’t bother wasting their time.) So, it’s really about taking the right approach.

Why Successful Entrepreneurs Network

Networking isn’t new in any sense. It’s an activity that helps to promote a business. But, that long track record doesn’t mean that it always works. There are several networking mistakes people make all the time and don’t realize it. That is, until they don’t see any fruits from their labor.

Sales is about influence. There are methods of persuasion that work very well in business. But, there are also several fundamentals that need to be in place if you want to succeed. If those fundamentals aren’t in place, you can pretty much kiss your chances for success goodbye. —Entrepreneur.com

Successful entrepreneurs network because it gives them an opportunity to grow their network and not necessarily to sell their products and services. Did you catch that? Networking is more about growing a circle of regular contacts rather than selling products and services. Think about it this way, would you go to a networking event that’s run in a hard-sell environment?

Most Effective Networking Strategies You can Use

So, now that you know networking is about extending your contacts and getting familiar with others and not selling, how do you do it right? In other words, what are the most effective networking strategies? Well, here are some helpful bits of advice about how to network:

Be confident in your value. It all begins with your confidence. If you aren’t self-confident about your own personality (and comfortable with your faults), you’ll give off the wrong vibe. Go into any networking situation with confidence in your value.
Don’t expect anything in return. Successful people aren’t afraid to give and not receive anything in return. Now, that sounds scary but it’s actually a sound business practice so long as it doesn’t cost very much. In other words, you can give expert advice, speak to a class, or do something else others find valuable.
Find common ground right away. When you meet someone, be sure to find common ground as soon as possible. This way, you’re more comfortable. And, be sure to give genuine compliments often.
Don’t sell your product or service. We’re back to the same philosophy about growing your network. When appropriate, speak about your work. For example, how you’ve solved a customer’s problem. But, do not go into a sales pitch. Let other see your value in more ways than one.

What other suggestion do you have for networking? How and where do you find networking opportunities? Please share your thoughts and experiences by commenting!

Interested in learning more about business? Then just visit Waters Business Consulting Group.

Like this article?

Best Times for Small Businesses to Introduce New Products and Services—Besides January

January 16, 2026 No Comments

For a small business, the timing of a new product or service launch can be as crucial as the offering itself. So, it’s essential to understand key factors that help determine the most strategic, data-backed periods throughout the year. This will allow us to identify the best ways to align your launch with consumer behavior, seasonal trends, and economic cycles, thereby positioning your business for maximum success and traction.

3 Big Reopening Mistakes Businesses should Avoid

June 24, 2020 No Comments

Businesses are anxious to reopen. Consumers are likewise ready to return to normal (or as close to normal as possible). But, any business reopening must do so responsibly. After all, not providing a safe environment will only backfire and cost them in a number of ways. This means taking a smart, incremental approach and one that can help to get things back on track. What to Know about Post-Pandemic Reopening The first thing any business owner needs to know is exactly what their state and local governments will allow and disallow. If you run afoul of the rules, even those which seem unfair, you’re only setting yourself for a lot of grief and probably a huge amount of regret. For these small businesses to come back after the pandemic abates, and once again serve as an engine of American innovation, they need aid. The Coronavirus Aid, Relief and Economic Security (or CARES) Act set aside $349 billion in loans and assistance for small businesses and there may be more to come. But business owners also need to make the best possible decisions to get them through this difficult period. —Harvard Business Review Another thing to know about reopening is how your patrons or clients will respond. Just because there’s a green light to open from the state and local government doesn’t mean the public will respond positively. In other words, you need to understand public sentiment. 3 Big Reopening Mistakes Businesses should Avoid Now, as for reopening, there are many things you should do to get back to full operation. But, there are also things you need to avoid doing, as well. Here are three of the biggest reopening mistakes businesses should avoid: Expecting employees to immediately return to work. Just because you’re ready (and willing), doesn’t mean your team members will feel or act the same way. So, speak with each one individually and listen to their concerns. Plus, encourage them to be open about their circumstances and be supportive, if necessary. Some business owners are expressing challenges with employees who are receiving unemployment which exceeds what they earned as an employee so they are reluctant to return. Business owners need to be prepared by discussing the need to help the business serve its customers. Also, if the employee does not return, there is no guarantee the employer will not have replaced the employee’s position when the previous employee’s unemployment checks end Not having procedures in place to maintain social distancing. At this time, it’s expected there will still be a need for social distancing into the foreseeable future. So, be sure to formulate a realistic plan to maintain those social distances in order to provide a safe and healthy environment. Trying to rush through the reopening process to get things back to normal ASAP. Whatever you do, don’t fall into the trap of trying to reopen to soon or at too fast a pace. While it’s completely understandable you’re ready to resume operations, if you rush, you’re likely to make rash decisions that will cost you in more ways than one. Remember to offer what the Customer wants. Instead of trying to reinvent your service offerings, ask the Customer what they want and most enjoyed or valued about your services and deliver what the Customer wants. What other mistakes would you say businesses that reopen are likely to experience? Please share your thoughts by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Hey, Small Business Owners Do You Know Your Blind Spots? If Not, Here’s How to Tell and Become Better Leaders

December 21, 2023 No Comments

Hey, Small Business Owners Do You Know Your Blind Spots? If Not, Here’s How to Tell and Become Better Leaders Running a small business is like embarking on a voyage into uncharted waters. While the journey is exhilarating, it also comes with challenges and hidden obstacles—commonly known as blind spots. These are areas where leaders might lack awareness, and navigating through them can be the key to becoming a more effective and insightful leader. The Blind Spots You Just Can’t See Imagine navigating a dark forest, unsure of the path ahead. That’s what it can feel like for small business owners, often unaware of the hidden obstacles and opportunities lurking in their blind spots. But fear not, intrepid commerce explorers! By shedding light on these blind areas, you can transform your leadership and guide your business to new heights. What are Blind Spots? Blind spots are areas of your leadership and business where you lack awareness or insight. They can be internal, like personal biases or emotional triggers, or external, like neglecting customer feedback or overlooking market trends. These hidden flaws can hold you back from making informed decisions, building strong relationships, and achieving your full potential. How Small Business Owners Can Identify their Blind Spots Seek diverse perspectives. Surround yourself with advisors, mentors, and employees who offer different viewpoints and experiences. Their insights can illuminate areas you might have missed. Embrace feedback. Don’t shy away from constructive criticism. Actively seek feedback from customers, employees, and partners, and listen with an open mind. Analyze data. Numbers don’t lie. Utilize analytics tools to track performance metrics and identify areas where your strategies might be off-track. Conduct self-reflection. Take time for introspection. Reflect on your leadership style, decision-making process, and interactions with others. Ask yourself: What are my strengths and weaknesses? Where am I prone to biases? Step outside your comfort zone. Challenge yourself to venture beyond your usual routine. Attend industry events, network with diverse individuals, and explore new ideas. How to Conquer Your Blind Spots Once you’ve identified your blind spots, it’s time to take action: Seek education and training. Invest in leadership development programs or workshops to gain new skills and knowledge. Delegate tasks and empower your team. Trust your team members to handle areas where you lack expertise. This frees you to focus on your strengths and address your blind spots. Embrace continuous learning. Never stop learning and adapting. Stay informed about industry trends, new technologies, and best practices. Develop self-awareness practices. Implement mindfulness exercises, meditation, or journaling to become more aware of your thoughts, emotions, and biases. Build a culture of open communication. Foster an environment where employees feel comfortable voicing concerns and offering feedback without fear of judgment. The Rewards of Leadership Clarity Conquering your blind spots leads to a multitude of benefits: Improved decision-making. Clearer awareness leads to more informed choices that drive better results. Enhanced relationships. Building trust and rapport with your team and customers fosters a positive and productive work environment. Increased innovation. Embracing diverse perspectives and new ideas fuels creativity and innovation. Greater resilience. Self-awareness allows you to navigate challenges and setbacks with greater adaptability and confidence. Empowered leadership. Leading with clarity and self-understanding inspires your team and guides your business toward success. Remember, the journey to self-discovery is ongoing. Embrace the challenge, learn from your missteps, and celebrate your successes. By constantly seeking feedback, cultivating self-awareness, and taking action, you can transform your blind spots into your greatest assets. So, step into the light, small business owner! Your leadership journey awaits. Do you want your company to grow faster and earn more while you spend more time with your family doing all the things you started your business to do? We can make that dream a reality. Give us 30 minutes and we will show you how to get your life back. Skeptical? Good! Put us to the test. You can call us for your free appointment at 602-435-5474, or, if you prefer, send us an email. You can also visit us at Waters Business Consulting Group to learn more about us and the services we offer.