Hi Reader!

Good afternoon! I hope you had an amazing, restful weekend! I can’t believe we’re already into November and that means the end of the year is nigh.

Lately, I’ve been thinking a lot about networking. I know it seems super random, but as I’ve been looking over my revenue from the past year, I couldn’t help but notice that a good percentage of my business came from referrals - from past clients, former coworkers, and from networking groups and activities that I participate in.

So I thought it could be important to talk about it. Particularly when you’re getting ready to do your business planning and goal setting for the year ahead.

Read on to get my hot take on networking and my number one tip!

Networking is probably the number one most important thing for a small business owner. In fact - I have a bit of a hot take on it. If you had to choose between networking and social media…I would say - invest your time and energy in networking (at least at first!)

There is a big caveat to that though…your online presence supports your networking efforts and your social media helps you stay top of mind with the connections you’ve made through your networking activities over the years, so you can’t abandon that altogether. But when it comes to growing your business, networking is the quickest and most effective tactic that I’ve seen - for both myself and my small business clients.

Why is networking so effective?!

The first reason is that networking gives you confidence. Your “elevator pitch” for your business sharpens and improves the more you give it. You become clear and concise with how you communicate with others, which breeds confidence in yourself and your new connection. The more you get used to talking about your business, the better you become at it.

Networking also builds your community. Getting to know other small business owners is a game changer! When you have other people at a similar point in life and business as you, there is a certain sense of camaraderie that you can’t get anywhere else. Some of my best business ideas have come from using my community as a sounding board - but I wouldn’t have had that community without intentionally networking.

Networking provides clarity. When you first get started in business, you don’t turn down any work, and you’re just grateful to do anything that comes your way. Over time, you realize that operating that way is a recipe for burnout. You need to narrow your focus, and the community you’ve built through networking is vital for figuring it all out. My community helped me figure out my niche, what kind of clients I wanted, my pricing structure, etc., and that helped me grow exponentially.

And of course, one of the biggest reasons that networking is so effective is that it builds your clientele. Whether you’re meeting new clients or customers directly, or meeting people who can lead you to new clients or customers, networking HELPS BUILD YOUR BUSINESS. Everyone knows that a personal referral holds more weight with potential clients than a random Google search result, and yet so many people don’t prioritize the networking activities that can lead to those referrals.

My number #1 tip for networking is…

Join a structured networking group that meets regularly. This allows you to truly connect with other business owners and get to know their skills, services, and capabilities so that you can confidently refer your own network to them (and vice versa!).

I would recommend a group that is category-exclusive - which means you are the only person representing your industry or type of business within the group. That way, you’re not competing with other businesses in your space to win the referrals of the other members of your group.

One of the barriers that small business owners have to joining a regular networking group is often cost. But even if a group costs $300 or $400 a year, it is likely that if you only get one solid referral from it, it will have paid for itself. (Plus it’s tax deductible, so you really have nothing to lose!)

And I’ll end with this: it’s not just "meeting people" that has these benefits, it’s INTENTIONAL networking. Casual or passive networking has its place, but a strong referral network only really works when you get into the habit of intentionally networking. If you choose to use networking to build your confidence, community, clarity, and clientele, there is no limit to what your network will be able to do for you!

More on the importance of networking...

• ​Why LinkedIn says networking is important for SBOs​
• ​What Is Networking in Business? (With Tips and Importance)​
• ​Five Benefits of Networking​

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