Grow Financial Federal Credit Union
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May 11, 2022

It Takes a Village: Why Business Networking Is Important

We’ve all heard the saying, “It’s not what you know — it’s who you know.” While the idea of business networking can sometimes be a bit daunting, it is significant for most small business owners. Wondering why? Forming relationships with other business owners in the community often leads to big things: increased knowledge and confidence, positive word-of-mouth, leads, and connections.

1. Increased knowledge and confidence

Building a successful small business is no small feat. It can feel like a lonely journey when you’re on the grind. That’s why it can be incredibly helpful to connect with other business owners, in similar business areas and beyond, who can often offer words of wisdom or a listening ear. They may have gone through some of the same growing pains or the same ups and downs. The small business community is a wealth of knowledge, so take the chance to learn and grow with your peers.

2. Positive reputation

As you continue to build your small business network, you’ll see a beneficial return on your efforts as your business name and reach start increasing. Business networking creates exposure beyond just the people in the room. When other local business owners speak highly of you and your businesses, their peers, friends and regular clientele might just decide to give you a look.

3. More leads

Call them reviews, referrals or tell ‘em I sent you’s. Whatever you call these positive human-to-human recommendations, you know they’re great for business. If your colleagues know what you do, how you do it, and that you do it well, they’ll likely send business your way. And of course, you’ll do the same. After all, this is a huge piece of what business networking is all about — business owners supporting one another.

4. Connections

Eventually, you’ll be the captain of connections. No matter what problem comes your way, you’ll have someone in mind to help. Need a new roof? There’s someone in your network for that. Need to upgrade your equipment? Either you’ve got a connection for that, or someone you know does. That’s because supporting small business and business networking often go hand-in-hand. We’re all here to help each other out, and that’s why community is so essential.

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