fbpx
09 August 2021

The importance of networking for entrepreneurship

Networking is an essential factor in the development of of a professional activity. It allows the entrepreneur to create professional relationships, which will eventually become commercial relations.
 

What is networking?

Networking is the act of creating social relationships for a professional purpose. Indeed, the address book and the quality of professional relations are two essential factors for the success of an entrepreneur.
 

Benefits of networking

Meet partners

The partners support you throughout your entrepreneurial adventure. The objective is to create long-term relationships of trust and mutual aid. Indeed, expanding your network increases your chances of finding partners and therefore professional opportunities.

The key to an effective social relationship lies in the reciprocity of exchange and the sharing of common values.

Increase visibility

In addition, having a circle of qualified relationships allows you to gain visibility and promote your business. The more dense and qualified your network is, the more you will develop your business and reach potential customers. In this way, networking will help you gain notoriety, and therefore credibility.

Bridge a skill gap

The entrepreneurial adventure requires multiple skills and we are sometimes limited. As a result, expanding your network allows you to benefit from the knowledge and expertise of your contacts. Thus, these relationships enables to find the missing resources or to share experiences. Conversely, these same contacts may ask you for help. This is how a relationship of sharing and solidarity is created between entrepreneurs.

Importance of external advisors

Networking with entrepreneurs who look like you, allows to share past experiences in order not to repeat certain mistakes. Sharing, exchanging and learning from others’ experiences helps in carrying out projects.

 

Different types of networking


 

Physical networking

Professional events, cocktails, conferences etc. There are many opportunities to meet new people and build a qualitative professional network. In order to create real bonds with your interlocutors, it is essential to have certain qualities. Indeed, by being curious, attentive and professional, you will create solid relationships, willing to help you if needed. At Monte-Carlo Business Center, we organize events on a regular basis, to promote exchanges between our clients. For example, the inauguration of MSC Sport and the launch of Lamborghini Club Monaco, were held within Monte-Carlo Business Center.

However, the goal should not, under any circumstances, be summarised to the fact of collecting tons of business cards. Indeed, to create solid and lasting commercial relations, it is important to forge links and affinities. To succeed in networking, you have to maintain your address book by exchanging regularly with your contacts.

Online networking

Online networking is easier for some persons, rather than face to face. Indeed, it only takes one click on social networks to get in touch with a person. However, a simple LinkedIn invitation will not motivate your contact to help or support you. Thus, a personalized message will encourage your new relationship to start a discussion.

To conclude, remember that it is important to surround yourself, but especially to surround yourself with good people.