Business Education

How Entrepreneurs Can Tell if Networking is Helping Their Businesses Grow

Business Networking Pros and Cons: What You Need to Know

Business networking can feel like a real-life roller coaster ride in constant motion. It can be exciting or uneasy with its ups and downs. Some entrepreneurs truly enjoy the experience. Others genuinely dislike it. And still, more approach it half-heartedly and network inconsistently.

Regardless of which best describes you, chances are excellent you could use a few bits of good advice about how to get the most out of it. But just as importantly, you need to know when networking works for you and when it’s not. So, let’s break down the pros and cons of business networking so you can understand what you’re getting into.

The Bright Side of Networking: Pros That Shine

Before we get into determining if networking is helping your business, we’ll first take a look at its advantages and disadvantages. Although the reasons seem self-evident, there is a bit of nuance that lies underneath. Like many other things in life, there’s more complexity than appears on the surface. Now, here’s what you need to know about the pros and cons of networking:

Expanding your circle. Networking helps you meet people you wouldn’t normally cross paths with. Think of it like throwing a big net into a pond—every fish you catch is a new connection. These relationships can lead to new opportunities, clients, and partnerships. The more connections you have, the wider your reach becomes.
Knowledge sharing. When you network, you’re surrounded by people with different experiences and skills. It’s like attending a grand potluck dinner. Everyone brings their specialty dish, and you get to taste a bit of everything. By sharing insights and expertise, you can learn valuable lessons that might save you time and effort down the road.
Boosting your visibility. In business, being visible is crucial. Networking helps put your name out there. The more you connect with others, the more they remember you when opportunities arise. This visibility can lead to referrals and recommendations that might not come your way otherwise.

Also, building self-confidence and trust. Each time you meet someone new, you practice your communication skills. Over time, this builds confidence and fosters trust. It’s like training a muscle; the more you use it, the stronger it gets. This self-assurance can help you in pitches, presentations, and everyday interactions.

The Flip Side: Cons That Can’t Be Ignored

Of course, networking doesn’t always produce the desired results. It can be counterproductive and business owners need to understand why it doesn’t always work. Here are the most common pitfalls you should know about to make better use of your time:

Time consuming. Networking can eat up a lot of your day. Attending events, meetings, and follow-ups can become overwhelming. It’s similar to trying to fill a cup with a fire hose; you might end up feeling rushed and burnt out. If you’re not careful, it can take time away from your core business tasks.
High expectations. Some people enter networking with big hopes. They expect instant results and connections that turn into gold. But that’s often not how it goes. Think of business networking like planting a garden. It takes time for seeds to grow. If you aren’t patient, the wait can be frustrating and discouraging.
Skill mismatch. Not everyone you meet will be in your industry or even understand your business. Imagine walking into a conversation about rocket science when you’re more into baking. This mismatch can make conversations awkward and unproductive. It’s essential to find the right circles that align with your interests and goals.

And then, there is the potential for superficial connections. Not every connection will lead to a strong relationship. Often, networking can feel surface-level. You may end up with a stack of business cards but no real friendships or partnerships.

Finding the Balance

Business networking isn’t all sunshine and rainbows, but it has its bright spots. It’s a mix of chances and challenges. Knowing the pros and cons can help you approach networking with a clear strategy. Whether you’re diving in deep or dipping your toes, being aware equips you for what lies ahead. The journey can be rewarding if you navigate wisely.

How to Know If Networking is Helping Your Business Grow

Networking can feel like a puzzle for many entrepreneurs. It’s not just about handing out business cards or shaking hands. (Though you will do plenty of those things and more.) Because there isn’t a direct, detailed report to refer to, it’s hard to know when networking is paying off. So how can you tell if your networking efforts are really making a difference? Let’s take a look at how it breaks down.

The Ripple Effect: Connections to Opportunities

You’ve heard the cliche about tossing a stone into a pond – it creates ripples. Networking works the same way. The more people you meet, the more opportunities can come your way. Are you seeing new clients or partnerships popping up in your life? If your phone’s buzzing with inquiries or collaborations, that’s an obvious sign your networking is paying off. But, there are more signs networking is bringing in new opportunities. So, keep an eye out for a few key signs that your networking is effective:

Increased referrals. Are you getting more referrals from new contacts? If people start mentioning your name positively, it shows your network is growing.
New partnerships. Have you formed any new partnerships or collaborations? If you’re working with others on projects, that’s a strong indicator that your outreach is effective.
Expanding your reach. Are you meeting people in different industries? If your network is stretching beyond your usual circles, you’re likely tapping into new markets and ideas.

Tracking Your Connections: The Numbers Game

In business, numbers matter. Track how many new contacts you make each month. Are those contacts turning into leads or sales? If you see a rise in leads, your networking is likely contributing to your business growth. It’s basically gardening for business; the more seeds you plant, the more flowers you can expect to bloom. To measure the impact of networking, consider the following:

Follow-up success. After meeting someone, do they reach out or reply to your emails? A strong follow-up indicates they’re interested in what you’re offering.
Social media growth. Are you gaining followers on platforms or is your audience number staying the same? If your connections are engaging with your content, you’re likely reaching the right audience.
Event participation. Are more people inviting you to events or workshops? Being sought after is a good sign your network values you.

In networking, it’s not just about how many people you know. It’s about building genuine relationships. When you connect with someone on a deeper level, they are more likely to think of you when opportunities arise. This means you need to focus on creating valuable relationships. To do this, ask yourself:

Am I offering help? Are you sharing your expertise or resources with your connections? Helping others can lead to reciprocal benefits.
Am I staying in touch? Regular communication keeps you on people’s minds. Are you the person they think of when they need something?

The broader your network, the more perspectives and ideas you have access to. Engaging with people from various fields can spark creativity and innovation. If you find yourself inspired or coming up with fresh ideas after networking, you’re clearly in the right circles. When you surround yourself with diverse individuals, ask yourself:

Am I learning something new? Do your conversations challenge your thinking? If you’re gaining insights that help you grow, your networking is effective.
Am I adapting my approach? Are you changing your business strategies based on what you learn? A willingness to adapt shows that you’re making the most of your connections.

Ultimately, trust your instincts. If networking feels good and you see positive changes in your business, it’s likely a sign that it’s working. Keep nurturing those connections, learning from others, and watch your business thrive. Networking isn’t just a task; it’s a journey that can lead to amazing opportunities.

Want to Accomplish More?

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) 541-1760, or, if you prefer, Waters Business Consulting Group to learn more about us and the services we offer.

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7 Challenges Every Bootstrap Entrepreneur Faces

May 16, 2017 No Comments

The entrepreneurial experience is one of duality, a paradox, that’s both exciting, full of hope, and, anxious, stymied by fear. Two very different states of mind and emotion, however, in the majority of instances, one set is preceded by the other. It comes with that spark of the proverbial, “ah ha!” moment–excitement and genuine, heartfelt belief that whatever it is, it will work. Often, this elation is short lived and it’s little wonder why. We grow-up with expectations and more than enough are not fulfilled. So, we learn skepticism, caution, and to examine our actions before blindly leaping. This is precisely why extreme success stories remain so unfathomable–often accompanied by the phraseology, “against all odds.” These sets of circumstances cause us to look at those odds and be honest about the entrepreneurial journey, which more often than not, requires a lot of work, much dedication, and, the ability to see and believe what others don’t. 7 Challenges Every Bootstrap Entrepreneur Faces When you start your own business, it might be a side gig, something that only takes a few hours out of your week and is intended to grow incrementally. It could also be the resort of finding yourself suddenly unemployed and the opportunity to take control of your own future provides all the drive necessary to start and never look back. Others partner together and use old fashioned sweat equity to get their businesses off the ground. Whatever the case might be, there will be obstacles. Regardless of size, most businesses face many of the same challenges every day. Maximizing profits, minimizing expenses and finding talented staff to keep things moving seem to be top challenges for both SMBs and large corporations. —Entrepreneur.com It might come as a surprise, but new companies fail for two primary reasons: too little business, and, too much business. In the former instance, there’s obviously a lack of revenue; but, the latter seems counterintuitive, perplexing, though perfectly explainable–overwhelming demand. These dynamics are usually out of the company’s control but there are others, and, just one of these can be enough to cause failure: Stability. While you might have a marketable and sellable idea, possess the talent to sell it, and have enough resources to get it out there, you don’t control the economy. Being employed provides a sense of security, though arguably, it’s a false one. There is no guarantee your vision will come to fruition in the way you now imagine it, or, at all. Income. It’s a fact that many entrepreneurs don’t take any salary for the first several months, even for a year or more, because the money’s better spent rolled back into the business. Having to forego a steady income, even temporarily, can be too much to bear for some, it’s looking to the future and taking stock of gains that provides the remedy. Sustainability. The marketplace changes and some businesses become near or completely obsolete. In the wake, new opportunities emerge, but that doesn’t undo the damage suffered by those caught on the wrong side. Pivoting when times begin to change is a necessity to embrace. Comfort. One thing that seems strange is what’s obvious by its absence–being the boss. Sure, it will be you who’ll be in charge, which means you will be making the tough decisions, you will be the one responsible for company mistakes, and you who must put your foot down. Schedule. Your work and personal lives will intersect many times during your startup period and here again, it’s because you’re the boss. While you’ll have set boundaries, you’ll have to do so smartly and be flexible. Sleep. Lying awake, brainstorming, putting in a lot of extra hours to get something done, having to meet this deadline or be present for a meeting, all of these are common. Try to find a schedule that largely works and take advantage of downtime. Seventh on the list is confidence, and, it’s among the most powerful of influencers. Your confidence will be challenged many times, but this just comes with the territory. You will have doubts, falter, and make miscalculations, but these are only as hurtful as you allow. Finally, if you have a viable business model with a demand for a product or service, then much of your success falls on you ability to persevere. Many businesses fail or fall “three feet from gold” because the entrepreneur quit. In the toughest of times, I encourage my clients, as I did for myself, to take Action every day on something that will help to grow your business. Sitting, worrying or praying does no benefit without Action. And, Action helps to resolve anxieties and fear. So, go out and pursue our dream today, and take Action every day to building your business! [shareaholic app=”follow_buttons” id=”26833294″]

If You Work Even When Your Not at Work You Need to Stop and Read This

October 31, 2018 No Comments

Work, work, work, work. It’s a well-established entrepreneurial behavior. And, in the age of on-demand information and immediate connectivity, it’s only getting worse. Unfortunately, too many people are a part of an always-at-work culture. Sure, they love what they do. But, it causes burn out and just isn’t healthy. If you’re constantly working, even when you’re not at work, you’re not alone. So, read on to learn a few ways to effectively deal with it. A Different Look at the Always-at-Work Behavior We’ve talked about wasting time. And, in a very real sense, that’s what you’re doing when you’re working when you’re not actually at work. In other words, the fact that you’re not truly in the moment means you’re only cheating yourself and the others around you. Depending on the job and the employer’s expectations, which should be clearly outlined, employees who accept a job and commit to meeting those expectations need to accept that they are “on call” and be willing to answer communications. However, remember the old adage, “All work and no play makes Jack a dull boy.” Everyone deserves some time to disconnect. —Forbes.com Think about it for a moment. If you are constantly distracted by work, you’re effectively taking time away from family and friends because you’re not enjoying what’s going on. In fact, you don’t even need to be there since it’s not what’s capturing your attention. How to Prevent Workaholic Urges Now, it’s one thing to “know” there’s an issue but a totally different thing to do something about it. After all, you’ll have to fight through those feelings that push you into your always-at-work disposition. So, let’s take a look at some effective ways to prevent workaholic urges: Recognize there’s a problem. You’ve probably heard this a number of times. It’s unavoidably true. You must start by recognizing there is a real problem. Then, commit to make a change. Don’t beat yourself up too much if you slip now and again because that’s just part of the process. Ask for help from your team. You’ll need to enlist the help of your team to make real strides. Tell them to keep work at work. You’ll probably find they are happy to help out. Establish a set turn-off time. Another way to get away from the urge to work is to establish a set turnoff time. (A good time is when it’s time to cook dinner or sit down for dinner.) Learn to indulge in relaxation. Relaxation isn’t a bad thing. So, stop treating it like it is the end of the world because it isn’t. Find something you enjoy and take time to enjoy it. I am personally working on myself too! I recently took a break to Mexico with my 14 year old daughter to unplug. Guess what, I plugged in my lap top to work in the mornings and found myself working until noon on a few days! Not good! I actually felt a small amount of anxiety because of my actions. I am now working on a better plan for unplugging. How else do you get away from the urge to work all the time? What other methods and strategies do you use? Please share your thoughts and experiences by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Business Owners: Want to Win More Bids? Ditch the Lowest Price Strategy Now!

May 15, 2025 No Comments

Tired of losing bids despite offering the lowest price? It’s time to rethink your strategy. Savvy business owners are winning more contracts by focusing on value, not just cost, and this gives them a key advantage in today’s super-competitive market. Below, we’ll look into why ditching the race to the bottom could be your key to securing more deals and boosting profits. Winning Contract Bids Without the Lowest Price: Smart Strategies for Business Owners For many business owners, securing a contract bid is a critical step toward growth and stability. But when competitors undercut your pricing, it can feel like an uphill battle. Fortunately, winning a bid isn’t just about having the lowest price—it’s about demonstrating unmatched value, reliability, and expertise. Here are the smartest strategies business owners can use to beat out competitors—even when they can’t offer the lowest price. 1. Highlight Your Unique Value Proposition Instead of competing on price, compete on value. What makes your business unique? Whether it’s exceptional service, proprietary methods, superior materials, or long-term cost savings, make sure your bid clearly communicates why you’re the best choice. 2. Focus on Quality and Longevity Some clients prefer reliability over rock-bottom pricing. If your product or service lasts longer, requires less maintenance, or improves efficiency, quantify that value. For example, a higher upfront investment in your service may reduce operational costs down the line—making your bid the smarter financial choice in the long run. 3. Showcase a Strong Track Record Clients want assurance that their investment won’t go to waste. Use testimonials, case studies, and historical data to prove that your company delivers results. Highlight successful projects, positive customer feedback, and retention rates that demonstrate your reliability and excellence. 4. Offer Customization and Flexibility Many companies struggle with one-size-fits-all solutions. If your competitors are bidding with generic offerings, showcase how your business tailors services to client needs. Providing custom options, phased implementations, or adaptable contracts can make you the preferred choice. 5. Strengthen Your Relationship with Decision-Makers Building strong relationships can significantly impact contract decisions. Engage with prospective clients before the bid process, understand their pain points, and position yourself as a trusted partner—not just a vendor. Personal connections and a reputation for integrity can make your proposal more appealing. 6. Provide Exceptional Customer Service A client’s experience matters just as much as the service itself. If you’ve built a reputation for responsive, personalized customer care, highlight it in your bid. Show how your customer-first approach helps clients avoid headaches down the road. 7. Offer Value-Added Incentives You may not be the cheapest option, but adding extras can sweeten the deal. Consider offering extended warranties, priority support, free training, or additional consulting as part of your bid package. Small enhancements can make a significant impact in the decision-making process. 8. Be Transparent About ROI Clients want to know why they should pay more. Break down the long-term return on investment (ROI) in clear numbers, showing that your offering delivers better results, fewer risks, and overall savings despite a higher initial cost. 9. Strengthen Your Proposal Presentation A well-crafted, professional bid stands out. Avoid generic templates—customize your proposal to address the client’s specific pain points. Use compelling visuals, clear data, and a persuasive narrative to make your case stronger than price alone. 10. Optimize Your Reputation in the Industry Your credibility matters. Industry awards, certifications, expert endorsements, and strong reviews enhance your perceived value. If your company has a respected name in the market, leverage it in your bid to strengthen your position. Winning Without Undercutting Prices Your ability to win bids without being the cheapest depends on how well you communicate your business’s strengths and advantages. Price may be a factor, but it’s not the only factor. With a strategic approach that highlights reliability, quality, and added value, your business can secure contracts while maintaining profitable pricing. Want to Accomplish More? Do you want your company to grow faster and earn more while spending more time with your family doing everything 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 480-636-1720, or, if you prefer,