The home-based business has exploded in recent years because more and more people are coming out of the mindset of staying with the same company for thirty years and retiring. The new generation of entrepreneurial minded people don’t want to waste their talent to make someone else’s big profit, but rather they want to line their own pockets with the talents they have earned. This is an exciting period in the business cycle when people break through barriers to achieve their own success. With that being said, how exactly would a startup get the network it needs to survive in today’s marketplace?
Since most small business startups are home-based start-ups, it’s important for these businesses to build a strong network of contacts who can help sell the business for you. Networking can provide valuable business opportunities for sales that would otherwise cost the company thousands of dollars in advertising. Some of the ways to start building a strong network use two very important but equal strategies. If you follow these two strategies you are almost sure that you can achieve a solid network of business contacts.
The first approach is what I call the “Street” plan of attack. This strategy is the old way of networking. After all, you don’t want to stop doing something that has been proven to work time and time again. What a small business owner needs to realize right away: He has to get out there and meet people if the business is to have any hope of getting off the ground. If you are a shy or shy person it is time to get over that fear or your new business will never get off the ground. The market is truly for those who are strong and determined, all being timid will bankrupt your business.
With that being said, the first thing you should do as a new business owner is join your professional networking group. If you are in real estate, then it would be advisable to join some investment groups or attend your real estate association events. After all, real estate agents pay a lot of money to be a part of national and local associations, so why not use it to your advantage? The next step in networking on the ground would be for you to get involved in your community. Nothing generates more interest in your business than socializing with people within your community. Join your local chamber of commerce and attend the event meetings they have once a month. Join the different boards within the trade to let people know who you are, volunteer for events your trade organization is having. Another good place to get contacts is by joining social organizations like the Elks or Moose-Lyons club or Rotary. These social organizations are often national and can go a long way in networking outside of your local area. Again, don’t just join to say you joined, get out there and be active within organizations.
The second approach to use is through the internet – there are many great social networking sites out there right now that can give you great results if used correctly. Myspace and Facebook can provide your business with a treasure trove of business, even presidential candidates are using these sites to get contributions and votes. Although the new Internet can be a boon for your business endeavors. A business owner must recognize how to be effective in its use. Most people in business think that you sign up for an account and just start requesting as many friends as possible. This is the cardinal sin, as I call it, for anyone who really wants to build a network for their business. Once again, let’s take real estate as an example. You are a real estate agent and you want to build a good network of people who can help you grow your business.
As a real estate professional, you want to build a network by getting other people who know your business and can provide referrals. So when you start your network, you want to search for all those profiles that are real estate agents and make a friend request. After you complete that, you want to move on to mortgage lenders and maybe business brokers, anyone who can help you build your business foundation. Once you build your base, you start soliciting people in your geographic area who might be interested in your services. But remember that you want to build relationships and not just spam people with your services. If those are your objectives, then you will fail, period. People like to do business with someone they think they know; if you communicate through emails or comments, then you start building that relationship. Remember, if done correctly, this tool can go a long way in generating repeat business, as well as building a strong business relationship for future business.