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6 Networking Tips to Grow Your Brand

May 19, 2022 founderscollab

Networking is one of the most important tools for personal and professional branding. When done correctly, networking can help you build valuable relationships with other professionals. This, in turn, can help you find new opportunities, get advice and mentorship, and learn about industry trends.

Whether you’re just starting out or you’ve been in business for a while, networking can help your business grow.

However, networking can be tricky to navigate; it’s important to make a good first impression and to be strategic in your approach. In this article, we explore four tips for networking that will help you make the most of your time and connections.

But first, let’s see why networking is so important when it comes to building your brand.

Why is networking so important?

In the hypercompetitive and challenging business environment, it’s no longer enough to have a great business idea. You need clear differentiators to stand out from the clutter.

Networking helps you gain exposure to these differentiators, helping you stay ahead of your competitors, attract more customers, and drive growth.

Here are some statistics that show why networking is vital for growing your professional (and personal) brand:

A global survey of entrepreneurs found that informal networking with professionals is more important for business success as compared to formal structures(accelerators and incubators).
The same study suggests that the more the networking activities, the higher the probability of boosting innovation, revenue growth, and profitability, apart from easier access to talent and capitalization.
Studies show that 80 percent of all jobs are filled through professional and personal connections. In fact, research suggests that 70 percent of positions are filled even before they are advertised on job sites.
Networking will emerge as the most important catalyst for businesses looking to access expertise, job seekers, and entrepreneurs. According to Deloitte Insights, professional growth and career success in the future will increasingly depend on connecting with more diverse and broader social and professional networks.
For customers acquired through networking, businesses experience a closing rate of 40 percent.
The lifetime customer value is 16 percent higher for a referred customer compared to a non-referred one.
Networks help form partnerships and collaborations that help businesses drive innovation and growth, apart from building resilience in challenging times.

Six networking tips for building your brand

Attend business events

Awards events, seminars, and other business events are a great way to develop new connections. Some national and global conferences of repute that you can participate in include:

The World Business Forum
Wall Street Journal conferences, workshops, and events
International startup conferences
Startup Grind
The World Domination Summit
New York Business Expo and Conference
Small Business Summit

These networking events are a great way to meet like-minded individuals and build a relationship with them over time. They can help you understand the areas for improvement and navigate challenges while keeping yourself updated on the latest developments in the industry.

However, with events and seminars increasingly being hosted virtually, networking opportunities may be limited. In fact, 68.8 percent of event marketers say providing networking opportunities is difficult when it comes to virtual events.

Join professional associations

One of the effective ways to expand your professional network is to join industry-specific associations. To do this, you will need to find an association that aligns with your niche and interests and hosts events that attract your target connections.

The NFIB (National Federation of Independent Business), Small Business Administration, the local Chamber of Commerce, and BNI (Business Networking International), are some associations that present networking opportunities.

Make the most of co-working spaces

A co-working space allows you to meet other professionals, freelancers, and entrepreneurs in person. You can leverage the opportunities to get referrals, meet like-minded individuals, or even partner with others on projects to develop your skills.

Of course, to make the most of these opportunities, you need to be good at striking up conversations and making the interactions productive and effective for your business.

Leverage social media

Social media platforms such as LinkedIn, Facebook, Instagram, and Twitter are useful networking channels, given their reach and popularity.

You can connect to industry-specific groups on Facebook with Facebook Groups, while Instagram is a popular platform to connect with influencers in the niche.

LinkedIn is one of the most popular professional networking channels with millions of opinion leaders, B2B decision-makers, and C-level executives that translate into powerful networking opportunities.

However, there are multiple disadvantages of using LinkedIn for developing your network.

Not every professional is active on this platform, which means it can take time for you to initiate connections and conversations.

Finding the right professional, requesting introductions from mutual connections, and contacting them can be a tedious process and can even be unsuccessful.

In addition, connections and conversations do not happen in real-time, which can mean lost opportunities to learn from experts and grow your business.

Connect with mentors

You may have already heard that many successful founders have had mentors. For instance, Mark Zuckerberg of Facebook fame was mentored by none other than Steve Jobs, who, in turn, was mentored by an Apple executive, Mike Markkula.

One of the biggest advantages of having a mentor is that you don’t have to make the same mistakes that they did (you can make new ones!). Jokes apart, the right mentors play a central role in your business success. Their rich experience in the same field as yours will help you gain invaluable insights that you cannot gain by reading books or simply attending conferences.

Research and surveys show the importance of mentorship to business growth and success. The more frequent the interactions with mentors, the higher the business survival and success rates.

However, despite most entrepreneurs realizing the importance of networking, close to 50 percent of professionals say they do not have the time to do so. In addition, they also find it difficult to stay in touch with mentors and industry leaders.

Founders Collab makes networking easy

Starting and growing a business is a challenging endeavor. Not all entrepreneurs have the time to devote to networking or finding the right mentors in their niche.

At Founders Collab, we firmly believe mentorship at the right time, from the right expert, can provide the advice, support, and guidance entrepreneurs need as they start and grow their businesses. A good mentor can help you avoid common mistakes, connect you with valuable resources, and give you the confidence you need to succeed.

Connecting with the right mentor is the best way to navigate through the complex and everchanging business world and receive invaluable advice on everything from starting a business to scaling it up.

In addition, a mentor can help you develop your personal and professional skills and act as a sounding board for your ideas. They can also connect you with valuable resources and contacts and help you build a powerful personal network.

We have created a digital ecosystem for bringing together startups, small businesses, and mentors. Unlike putting effort into events, social media, and other platforms to find and connect with the right experts, all you need to do is sign-up on our website.

Based on your requirements, we connect you with mentors, advisors, or startup founders in your niche who are aligned with your interests and goals.

What’s more, you can connect with mentors on the web portal or mobile app on the go to benefit from one-on-one coaching and guidance.