7 Ways to Build a Powerful Network
7 Ways to Build a Powerful Network · GOBankingRates

Networking isn’t just about handing out and collecting business cards. It’s about connecting, establishing and building relationships that are mutually beneficial for you and others. With so many personal and professional factors involved, it’s important to put your energy toward building a powerful network.

Follow these seven tips, and you’ll soon develop a strong and long-lasting network of contacts.

1. Ask for Referrals

A good place to start when building a powerful network, wrote Randall S. Hansen, former CEO of Quintessential Careers, is “to simply ask your current friends, family and associates for the contact information of others whom they think would be beneficial for you to know.”

Hansen added that the “‘friend-of-a-friend’ connection is quite strong and usually very successful. ‘Who else should I be talking to?’ is a good question to use when asking for referrals.”

Make sure that you are reliable, make a good impression, make your friend look good, and don’t let your friend down once you gain this introduction, and you will have all kinds of people willing to refer you.

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2. Tap Into Your Local Community

There’s no shortage of local networking opportunities. Whether the opportunity is found through your local Chamber of Commerce or through an event on Meetup, tapping into local influencers and business leaders is a solid way of building a network.

Besides attending local networking events, Shopify.com’s guide on Local Business Networks suggests that you also find other businesses that complement yours. For example, “if you own an online jewelry store, you should partner up with local businesses that are in the wedding industry.”

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3. Have a Game Plan

You wouldn’t pitch your business to potential investors or customers without doing research and developing a plan of action first, right? The same can be said of networking.

Financial journalist and Smart Money Squad member Miranda Marquit said you “should know your purpose” by asking questions like:

  • What do you hope to accomplish?

  • Do you want to identify potential clients?

  • Do you hope to find a partner for your next venture?

Entrepreneur John Rampton recommends that you research key attendees prior to attending an event. “Scope out these individuals’ LinkedIn profiles to learn the basics about them, and look for common connections,” he wrote in his blog post “19 Ways To ‘Kill It’ at Your Next Networking Event.”