As a mortgage broker, my entire business/career/income is derived from networking (95% of my business comes from repeat and referral) and I truly believe the quality of your network greatly impacts your net worth! I have picked up and closed numerous clients from actively attending local Chamber of Commerce events, participating in BNI groups, and engaging in other-non business focused organizations (parent's groups, sports teams, industry-specific clubs etc). More than just clients and deals though, I have been able to connect with some absolutely incredible industry titans that have turned into valued mentors and added inexplicable value to my business!
I use LinkedIn for all of my networking and I’ll never stop advocating for it. Every business partnership, service provider, friendship, opportunity Ive run into, I met on LinkedIn. Every connection I make, partnership I broker, business I start, is because of someone I met on LinkedIn. I met my two Penfriend co-founders by networking on LinkedIn. 1 Year ago I didn’t know them, today we run a successful B2B Saas business together.
When I had first set up my SaaS business that helps the horse industry I was focussed on marketing to Horse Owners and Horse Businesses. Things were going ok, but slowly. One day by chance I was helping the Horse Chiropractor do chiropractic on one of our horses. Normally my wife did this as I married into horses and don't know a lot about the animals. (Well, I know more than most non-horse people but not the experts who have worked with horses all their lives). I mentioned my Horse Software to the Chiro and he said "Why don't you contact Racing South Australia about their Off The Track (OTT) Program? I can give you the name of a good contact". The OTT program is where retired racehorses are sold to new owners. Racing SA takes and interest in these and helps out with some rugs, nutrition analysis, feed vouchers etc to help the horse start it's new career with the new owner. I called Racing SA and eventually met with them to show them the software. They were impressed enough to include it in the pack they give to new horse owners as part of their OTT Initiative. So from that one chance encounter, I had a the state's racing association introducing my software to a segment of customers that I have never considered before. It worked so well that I went to other State's racing bodies within Australia, and most of them now provide HorseRecords as part of the the Off The Track welfare packages. In fact I have been talking to Racing bodies in other countries as well! (So if you know the person in charge of OTT for a state let me know!) It has really helped my business grow by giving me access to customers I would normally have to market to with more traditional types of marking. So my advice is feel free to have a chat to folks about what you are doing - who knows they might have contacts to new ways of marketing!
Following over seven years of dedicated service within the technology sector, I discerned a profound aspiration to transition into entrepreneurship and establish my own venture. This transition was not merely a shift in career trajectory but necessitated a comprehensive reassessment of my professional network and strategic outreach efforts. Having been entrenched in a relatively insular professional community within a small town, I recognized the imperative of broadening my network to facilitate the realization of my entrepreneurial ambitions. Focused on pioneering advancements in entrepreneurship, I embarked on a deliberate path of cultivating connections, securing investment partnerships, and engaging with individuals who shared a resonance with my vision. However, it was a seminal moment when I successfully navigated the application process for the prestigious Erasmus for Young Entrepreneurs program, and subsequently had my meticulously crafted business plan endorsed by the consortium. This pivotal opportunity granted me access to an immersive business exchange program in the dynamic environs of London, widely acknowledged as the epicenter of entrepreneurial activity within Europe. Amidst the bustling ecosystem of innovation and enterprise, I endeavored to actively expand and fortify my professional network. Through attendance at a myriad of industry events, forums, and networking gatherings, I engaged in substantive dialogues with fellow entrepreneurs, seasoned investors, accomplished mentors, and influential thought leaders. These interactions not only afforded me invaluable insights and perspectives but also facilitated the cultivation of meaningful professional relationships that proved instrumental in advancing my entrepreneurial pursuits. What initially commenced as an exchange opportunity swiftly evolved into an enriching journey of collaborative exploration, knowledge exchange, and strategic partnership development. Indeed, the fortuitous convergence of networking endeavors and entrepreneurial acumen catalyzed a profound transformation in my professional trajectory, culminating in the tangible realization of my entrepreneurial vision within the vibrant landscape of London's entrepreneurial ecosystem. As advice to aspiring entrepreneurs, don't hesitate to seize new opportunities. Embrace exchanges, seek advice, and engage in endeavors with potential for significant impact and growth.
Days before Covid hit the United States, I attended a freelance writer conference as a panelist. I spent the week building my freelance network and learning about their businesses. Once Covid hit, other businesses scrambled to update and improve their communications, sending my schedule into overload. With more work than I could handle, I tapped into my newly expanded freelance writer network to send some work their way and handle my overflow. Sharing the love helped me to increase my revenue, generate passive income, and help other freelancers survive a time of uncertainty. It's a textbook definition of a win/win, and my business is better as a result.
Absolutely! Networking is crucial for any entrepreneur, and I can share a fun story with you. Once, at a tech conference, I struck up a conversation with a fellow attendee while waiting in line for coffee. We hit it off, exchanged business cards, and stayed in touch. A few months later, that same person reached out to me with a potential partnership opportunity that ended up being a game-changer for my company. So, never underestimate the power of a casual chat over coffee - you never know where it might lead!
As an entrepreneur, I focused on selling Indian goods on our e-commerce platform. I attended a trade show in Delhi to showcase our products. While there, I discussed this with a representative from a major online retailer. They were impressed with the quality and uniqueness of my products but were hesitant to add another home goods vendor due to saturation in that category. We exchanged business cards, and I expressed my interest in collaborating in the future. A few weeks later, I followed up with the representative with a personalised email highlighting a specific niche within home goods that my products address, such as ethically sourced and eco-friendly products. This targeted approach piqued their interest, and they invited me to discuss the possibility of featuring a curated selection of my products on their platform.
Absolutely. Networking is the lifeblood of entrepreneurial success. Here's a prime example: I attended a tech conference last year. Casual chat over coffee—turned into a deep dive on digital trends. The person? Turned out to be a decision-maker at a major retail chain. Impressed by our take on AI in marketing, he invited us to pitch. The result? Landed a six-figure contract. All because we shared insights and a latte. This isn't just business—it's about genuine connections sparking tangible outcomes. Networking isn't just about exchanging business cards; it's about building bridges that can carry your business to new heights.
Networking at business events has been invaluable for my business success. One conference led me to a chance encounter with a fellow delegate whom I casually traded observations about our market trends with. The conversation snowballed into a partnership to create a new service offering by leveraging our complementary skills. The meeting was a networking event, and when we met, we noticed we overlapped in services and they did what we didn’t and vice-versa. So, we joined up to offer a package that gave the client everything. It broadened our base a whole lot and increased our market penetration.
As a recruiter, networking is key to what I do. And it's not always about staying within my peer group. Some of my best connections have come from unexpected places. Just last week I was chatting with a teen (and their golden retriever) at my local park, and wound up giving them my card so they could send me a link to the dogsitter their family used. It wasn't networking, per se, but today, my openness paid off in an unexpected way: turns out his mother is an executive looking to return to the workforce after taking some time off. She just happened to see my card and it spurred her to call, proving that networking need not be calculated. It can instead just be natural friendliness. Travis Hann Partner, Pender & Howe https://penderhowe.com/toronto-executive-search/