Networking is a crucial habit every professional must do, but for entrepreneurs? It’s one of the factors that give you greater success. The broader your network is, the better chance you have at growing your business. Here are the ways the simple habit of connecting to colleagues makes a big difference on your entrepreneurial journey:
It can make your business vision a reality
People start their businesses in many different ways. Some already have the million-dollar idea right after college, while some took inspiration from their parents’ businesses. But most of the great entrepreneurs today formed their idea after a chat with someone over coffee. And they were able to grow that idea because that person they’re chatting with connected them to angel investors, franchise owners, or like-minded individuals who became business partners.
Your network of contacts can help materialise your vision. You never know, you might just be one coffee meet-up away from finally making your business a reality.
It can expose you to many business insights
Reading Warren Buffet’s books and attending business classes are good. But sometimes, the wisest advice on entrepreneurial affairs comes directly from people who experienced them. When you have a diverse group of people in your network, you’re able to see how each of them approaches business dilemmas differently. What’s more, you’re able to learn from their mistakes and avoid costly errors in your business.
This is the reason many entrepreneurs are going into coworking space businesses. It’s not just because it’s the ‘in’ thing among professionals (giving them an easy market), but also because they get to expose themselves to many people, start-ups, and experts who are on different stages of their career. Co-working space lets people network with each other, and lets you network with them easily. If you’re one savvy businessman, you should already be asking by now how to start a coworking space business.
It can provide much-needed support
One reality about entrepreneurship that’s rarely discussed is it can get lonely sometimes. Sometimes, business owners lose a sense of purpose. Other times, they regret pouring their time and energy out in building an empire and forgetting their families. In such vulnerable times, you will need people who understand you. And your network may very well provide that emotional support.
Networking is beneficial in the professional world, but more so for entrepreneurs. Keep a close relationship with colleagues to maximise such benefits.