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Are you networking or not-working? (Credit Column).(Column)

Business Credit

| June 01, 2003 | Kuschell, Dan | COPYRIGHT 2003 National Association of Credit Management. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

When done properly, networking is one of the most effective ways to build your business. Unfortunately, most people who claim to be networking are really not working and not building the pipeline for future business. They use events as a time to merely socialize, and they never take the initiative to build their "net."

Those who choose to not-work rather than network rarely attain success because the future belongs to those who build their network of contacts. In fact, our greatest business asset is the network we have--the people we know or know of. Imagine if you had a database containing every person you've ever met over the course of your life. How many hundreds of thousands of people would you have as your allies and potential customers? That's precisely the kind of network every business owner needs to have.

Network Your Way to Millions

A common business mantra states, "It's not what you know; it's who you know." True professionals take this one step further. They proclaim, "It's not who you know; it's who they know." How many people do you know of right now? 50? 100? 250? 500? 1000? 5000? 10,000? If each of these people knows just 50 people each, then you have access to hundreds of thousands of people. Make no mistake: one key developed relationship combined with the right idea can make you successful.

Networking in today's business climate has become more important than ever. In fact, networking is quite possibly the best investment you'll ever make. It helps in the short run and assures long-term stability because you are building your business on a solid foundation.

Traditional networking involves tapping into your contacts and circles of influence to spread your ideas. This enables you to not only generate new business, but it also helps you find the best suppliers and vendors with which to do business. Networking with experienced professionals in your field can save you time and money as you gain advice from those who have been in similar situations.

Stand Out From the Crowd

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