The Benefits Of Playing The Long Game When Networking?

"Networking is an investment in your business. It takes time and when done correctly can yield great results for years to come."

- Diane Helbig

Before jumping into how you can benefit from networking, we are first going to outline the different types of networking and the benefits behind each so that you can decide which type will benefit you the most.

The most common type of networking is online networking, and this continues to rise in popularity and viability with the consistent growth of social media, in particular LinkedIn and Instagram. Online networking allows more of a mass networking approach to take place by facilitating people to connect and message each other. This however does come at a cost as the rate at which a connection will turn into a profitable business partnership is relatively low.

The other most common type of networking is by going to networking clubs that meet regularly. This type of networking provides its attendees with a person-to-person experience that can’t be gotten through online networking, and this is seen by many as a must-have to build genuine connections. These clubs do however require their attendees to bring guests and new members otherwise connections and referral opportunities can be limited and the networking can become stale.

The third and final networking practice that we will be covering, comes in the form of events. Events usually incur more of a cost than a membership to a networking club however rather than being localised, networking events provide the attendee with people in a wider range of industries, stages of growth, and backgrounds which often make the cost well worth it. At a networking event, other activities will usually be present to further knowledge such as guest speakers or panels around different areas of business. These types of events typically come in the form of conferences, dining-style events, or expos.

As outlined at the top, the most crucial step to benefitting from networking is to play the long game. Building strong and lasting relationships takes both time and effort, this cannot be built by attending one networking event. Below we have outlined some other reasons why playing the long game is important:

1.Building Trust and Cultivating Meaningful Relationships: Trust is a crucial element in networking, It takes time to develop trust with others. By consistently showing up, delivering on your promises, and building genuine connections, you can establish trust within your network which will become the foundation for future collaborations, referrals, and support. Long-term networking also allows you to cultivate deeper and more meaningful relationships with others because It's not just about collecting business cards or making superficial connections. By investing time and effort into getting to know others, understanding their needs, and providing value, you can build strong relationships that go beyond immediate transactional benefits.

2.Nurturing Referral Networks: Referrals are often a key benefit of networking however, referrals typically come from professionals who know you well and trust your expertise. By playing the long game, you have the opportunity to nurture relationships and develop a strong referral network over time. This can result in a steady stream of qualified leads and potential clients.

3.Access to Hidden Opportunities: Long-term networking allows you to tap into hidden opportunities that may not be immediately apparent. As you develop closer relationships with other professionals, they may share exclusive insights, industry trends, or upcoming opportunities that can give you a competitive edge. These hidden opportunities can often arise through long-term trust and collaboration.

4.Support and Mentoring: Business networking is not just about receiving support, but also about giving it. By playing the long game, you have the chance to establish yourself as a valuable resource and a supportive member of your network. In return, you are more likely to receive support, mentorship, and guidance when you need it

With all of this being said, it is important to note that while you should be patient and play the long game, it's also essential to be proactive, consistent, and genuine in your networking efforts. Building relationships requires nurturing and active engagement, so make sure to stay connected, follow up, and provide value to your network over time otherwise, it won’t provide value to you.

Finally, If you like the idea of attending a networking event that will allow you to have an evening packed with inspirational and stimulating discussion, alongside the opportunity to meet other successful entrepreneurs and further build your own network, then we have the evening for you!

Our Entrepreneurs’ Dining Room Events give you the opportunity to join fellow ambitious CEOs and Founders of established, high-growth SMEs for a specifically designed 3-course meal using the finest local ingredients, accompanied by a selection of fine wines.

If you would like to attend one of our dining room events, then click the link here: https://www.theentrepreneurscentre.com/events to see our upcoming events and we look forward to seeing you there!