The world of Business is often depicted as cut-throat and vicious. It is a highly competitive industry that will force out anyone who can’t keep up with the ever-shifting tides. You can spend your entire life studying every business textbook out there and attending every business seminar, but without the one magical ingredient, you are doomed to failure.
You may have heard this saying quite a lot. It’s not what you know, it’s who you know. And this statement is painfully true in the world of business. Anyone who has ever made it in this industry has done so by amassing a large collection of powerful contacts and influential friends. But why exactly is it so important to carefully select your friends and allies? Allow us to break it down for you and examine the various benefits associated with building a strong network of contacts.
Success in business requires you to bring in clients and keep them. To achieve this you need solid leads. Now you could spend a lot of money on an Exclusive Leads Agency to cut out the footwork. But there are plenty of other routes you could take as well. This is where building connections is important.
Having contacts in the business world will also build up your potential to find new leads. As the saying goes ‘You scratch my back, I scratch yours.’ If you are willing to share leads with someone else for their business needs, they will most likely do the same for you.
To that end, it is wise to make contacts from different industries. If you work in money management, you might consider making friends in a legal department. These two areas often overlap and you can both bring new leads to the other.
Building a good relationship with your clients is also a fantastic way of bringing in new leads. Word of mouth is a powerful tool. If a client is happy with your work they are more likely to recommend you to their friends.
Many people in the business world will stagnate. They stay at the same level, never advancing in their career, watching others surpass them. And one of the main reasons this happens is their lack of connections.
Chances are your boss, or the people in charge of arranging promotions, have spent their career building a strong contact network. So they know how important it is to their own success and the success of the business as a whole. So if you have no professional contacts on your phone, chances are you won’t get promoted.
A company wants people who are outgoing, connected, and confident in positions of power. A large network of contacts will highlight these qualities within you, while also showing you have a lot to offer the company if you are given more responsibility.
Skills and Tricks
As we said before, you could spend all your time reading textbooks and attending seminars. And you will learn a lot of useful information from these sources. But there is no replacement for the invaluable information and skills you can pick up from business veterans and higher-ups.
There are so many things that don’t get written down. Ways to talk and handle difficult clients. How to present yourself to specific bosses and the proper etiquette while attending a business conference. All of this is information can be learned by making connections and spending quality time with your business associates.
Buy them a drink and pick their brain. Invite them out to lunch and let them talk. People love to talk about themself. You just need to get them started and they will unload a whole wealth of information onto you. Sure, you may have to pick up the bill at the end. But it will be worth it, trust us.
We hope this has been helpful in understanding the vital importance of building your business relationships. This industry requires a lot of dedication and time, both in the office and out. But if you are hardworking and diligent, there is no reason you can’t shoot straight to the top in no time.