CHAPTER 6

• Lewis Howes: 'Effective networking isn't a result of luck - it requires hard work and persistence.'
• Communication and strong presence

  • Effective and beneficial ways of forming solid relations among business owners and other entrepreneurs
• Networking


  A very important approach for entrepreneurs to advance their knowledge, obtain information on the success of other people, acquire new customers and speak about their businesses to others
• Recruiting a team


  Not a one-time activity but an ongoing focus
• Entrepreneurial spirit


  • Can trigger innovation in both big and small companies
• Entrepreneurial team


  Assures more creativity and innovation for any company
• Networking in business


  An art form that an entrepreneur must be expert about
• Networking


  Connecting people which will be beneficial for each other's business
• Networking


  Done because of the benefits an entrepreneur hopes to earn from good networking
• Networking


  Entrepreneur has to be clear about what he hopes to achieve through networking
• Networking


  Entrepreneur has to get some right people in his network that will improve his influence
• Majority of the prominent entrepreneurs today got to where they are now due to the help extended to them by other entrepreneurs
• Strong network among professionals and co-entrepreneurs

  Will surely enable the achievement of goals of every one
• Networking


  One of the best tool to provide solutions to seemingly very difficult issues and to word-of-mouth endorsement coming from customers
• Networking


  An effective technique to referrals particularly those experts of the industry
• Referrals


  Good source of new customers for entrepreneurs who wants to achieve business goals easier
• 78% of new ventures regard networking as necessary for their being successful
• Informal relations and informal gatherings are the ones that offer exact information coming from networks which are what really entrepreneurs need
• Networking


  Establishing an equally advantageous relationship with other business people and possible customers
• Main goal of networking

  To tell others about an entrepreneur's business and confidently turn them into customers
• Networking


  Intended to increase business revenue
• Wise investor


  Invests in relationships as well as money
• The net worth of any business is not just about the size of its portfolio but also the entrepreneur's ability to work with people who has similar passions and values like him
• Network of people


  The interpersonal safety net of the entrepreneur that makes certain his better output and personal satisfaction
• Advantages of networking to entrepreneurs

  • Better business opportunities
  • Increased status
  • Enhanced knowledge
  • Positive influences
  • Growing confidence
  • Personal satisfaction
• Strong networking


  Great possibilities of powerful position and infinite business opportunities
• Businesses that network effectively

  Become very successful
• Networking


  May lead an entrepreneur identify for opportunities such as partnerships, joint ventures or expansion to another
• Strong presence and being noticed through networking

  Important in putting up and building one's career and business
• Being remarked and getting seen with well-known and highly influential people


  May enhance good standing among friends and other entrepreneurs in the industry
• Networking


  Can tap into influential people for his business to grow
• Networking


  May build the image of an entrepreneur as someone expert, trustworthy, and compassionate person who can be useful when it comes to connections with people
• Networking


  Can get more leads and referrals as the entrepreneur is on top of everyone's mind for what customers need
• Entrepreneur


  Should have the right contact with numerous powerful, well-established and significant business and professional communities
• Entrepreneur


  Must make effort in associating with these communities on a regular basis to stay updated
• Business networks


  More effective and efficient compared with suggestions from friends and family
• Through networking


  Owners and entrepreneurs are able to expand their knowledge power from business experts with whom they can have the opportunity to learn and obtain advice about businesses and life as well
• Advice from a business owner


  Can help an entrepreneur to improve business and personal life
• Entrepreneur


  Must invest time and money in attending advanced training, conferences, and mentoring relationships in order to gain knowledge of countless value
• Entrepreneur


  Must be certain that he gets significant and factual suggestions from right person who knows exactly who he is, his situation and his needs