Networking Between Businesses
When you start your own business, at first you’re so focused on getting your product or service together and making sure what you’re selling is of high quality that that’s your only priority. Then you have to make sure you have the right space, whether it’s an office or a storefront or a manufacturing plant that allows you to keep the wares coming.
After a while you realize that you have to continuously do marketing and advertising campaigns or no one will know about this wonderful product or service you’re selling. So you find the budget and the time to do that. However, there’s another important factor that has to be taken into account, and that’s business networking.
Now in the old days there might have been just one of every type of store in a small town, and all the owners knew each other and people had very little choice in where they bought their groceries or who was going to be their doctor. Now, however, everything is different and there’s a range of options in even a neighborhood of a few square blocks.
The tendency then is to hunker down and protect one’s own clientele and to think that one doesn’t have to keep in touch with the competition. But ultimately it does benefit you to know those who are in similar businesses as yours. They say to keep your friends close but your enemies closer, and sometimes this is a good business strategy.
You want to be in a position to hear what others who offer a similar good or service are doing that’s innovative so you can keep up or lead the pack. Of course there are old-fashioned type networking events still offered by many towns and chambers of commerce. That’s where you go in after work for a meet and greet gathering where you have some wine and cheese and exchange business cards.
There’s nothing wrong with that and you’ll make some valuable face to face connections. Then when another business owner hears of someone who needs what you sell, you’ll be the name that comes up and maybe they’ll have a card of yours to pass on. But of course in this age of the internet and social networking, making connections is far easier than having to go to an after-work gathering.
If you’re on Facebook or Linkedin or Twitter, you’re automatically connected to a bunch of people with interests and aspirations similar to your own. It’s easy to keep posted on the activities of others and to let others know what you’re doing. You can make special connections with those in your geographical area so that together you can boost the services available there.
Property values go up when people want to move to a certain place, and a place gets more popular as more is available there. What’s good for your business is good for the community, and vice versa.