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5 Networking Principles to Help You Reach That Elusive 3%

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5 Networking Principles to Help You Reach That Elusive 3%

Did you know only 3% of entrepreneurs succeed past 3 years in business?

There are many qualities and practices that set them apart from the other 97% who don’t succeed or give up. And this includes learning not to go it alone. I am blessed to be in my sixth year of a successful coaching practice. And I know that my knack of building networks is one of the things that helped me succeed in a city where I knew no-one when I first arrived.

For as long as I can remember, I’ve had a knack for connecting people with other people, and because of this, I have a large circle of friends. New friends to my circle often comment on what lovely friends I do have and then often become close friends with each other. So, I guess when I entered the business world this knack of connecting just flowed through to my business.

Robert Kiyosaki said, “The richest people in the world look for and build networks, everyone else looks for work”.

If you are only looking to make sales or build your own nest, then you will find entrepreneurship and business a lonely world. You will find it takes more energy to get to where you want to be and your progress can be quite slow. When you are also focusing on connecting and building relationships and how you can help others reach their objectives, then your networks start to grow, and this has a positive flow-on effect into your own business.

So how do you build powerful networks in business?

I thought about how I have done this in my friendships and how I have now mapped some of those skills across to my business.

Master your craft, service or product.

Friendship is one of my strengths, and because of that, I am always working on ways to improve and be a better friend. Looking at this through a business lens, when you master your craft, service or product always looking for ways to learn, improve and excel then you will stand out more and have more to offer your network.

Add value wherever you go.

When you connect with people, look for ways you can add value to them and their business. This can be anything from offering advice, using your skills to help them, connecting them with other people who offer something they need or might compliment them and referring prospective clients to them.

Connect with people regularly.

In any friendship, it’s important to connect regularly even if it’s by phone or a quick message during busy times. It’s the same in business and consistency is key. To form a powerful network of like-minded people who support each other; it’s important to connect with them regularly by phone, email, message and having regular meetups.

Join or start a group and invite new people in.

Groups can be anything from social, networking to mastermind groups. You can even start one of your own. Consider which businesses would compliment your own and how you will all compliment each other. Also look for people who are different to you, have different views and have different skills. Build the connection and encourage them to add value to each other by practising this yourself.

Collaborate instead of competing.

We would never compete with a dear friend, and yet people often seem to do this in business. In friendships we are just being ourselves and doing things together, this builds a strong friendship. This also builds powerful networks. When you are being yourself and collaborating then competition ceases to exist, and there is far more power and opportunity in a group than there is in going it alone.

I am seeing more each day that the opportunities to build powerful networks are unlimited, and being part of, or building your own network, will give you far more possibility of being in that successful 3%.

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