The Value of Business Networking

November 1st, 2012 | No Comments |

Business NetworkingAlong side my home based business, I also offer webmaster services such as SEO, wordpress website design and website maintenance and editing. Some say that the secret to success in business is to find a need and then fill that need. Thus, people need money and time freedom, and they also need someone who knows what they’re doing when it comes to designing, marketing and editing websites. I know that I’m filling a need and it’s been profitable for me and those I work with.

The other day, I was contacted by someone who does something similar online, she designs and promotes Facebook pages for her clients. She occasionally runs across clients that also need a service that she knows very little about, SEO. She contacted me because she wants to fulfill all the needs of her customers, when it comes to the internet. I, on the other hand, don’t really design Facebook pages and could use here skills in that area as well.

The Value of Business Networking

There’s value in business networking, or entering into agreements with other business owners. There are services and skills that other business owners can provide that you can’t. Working together can be mutually beneficial for both businesses involved and in several ways.

  1. Customer satisfaction. We all know this, but a major aspect to success in any business venture is keeping your customers happy. If you’re a business owner that believes the old adage that the customer is always right, then you and I are ions apart in that aspect. I believe that customer satisfaction comes from fulfilling their needs, not from putting up with their crap. A satisfied customer comes back over and over again, and gets others to come back with them.
  2. Receive more business. Instead of turning away leads that require a service you don’t offer, you can still profit from that lead by business networking with someone who does provide that service. Arrangements can be made for you to make a percentage of the sale, get paid for the lead up front or just trade leads. I would recommend the first two. Get paid for the lead or write up a contract with the other business owner with a percentage agreement for sales conversions. For a service like SEO, this could turn into a residual income stream for you. Money now is always better than money later.
  3. Learn a new skill. Business networking can provide a valuable service for your customers while you learn how to offer that service yourself. There’s nothing wrong with expanding your product line or your services while networking. As a great Roman Emperor once said, “We expand or die!”

Business Networking in a Home Based Business

Business network also applies in network and affiliate marketing. We’ve all heard of downlines, uplines, enrollers and distributors. Technically, as an enroller, it’s not my responsibility to motivate those I enroll. It’s not my job to teach them how to do the business. The company should be able to do that. However, as a home based business owner, I know that my business will be more profitable if I train those I enroll and teach them how to be successful. In a sense, I am training my competition, but when training my competition makes me more money by making them more money, it’s all good.

Plus, as much as I don’t like to admit it, I don’t know everything there is to know about internet marketing or succeeding in a home based business. There’s always more to learn, and there are other leaders in the industry that know things that I don’t. That’s business networking at its finest. Finding other leaders, or independent business owners, to mastermind with can be mutually profitable. That’s a big reason home business owners brand themselves with a team name. Everyone on the team works together for mutual benefit.

In conclusion, if you’d like to read more about the network marketing industry, affiliate marketing or business networking, this blog is full of information. However, if you’re determined to succeed in your enterprise, it will come. But consider the benefits of working closely with another businesses or business owners that may extend your ability to satisfy every customer or lead that comes your way. As long as you have something to offer them, it will always work out.

David Allred is the author and creator of CFW. David has been teaching entrepreneur minded people how to earn a full time income working from the comfort of home for nearly a decade.

Think about it. Never miss your kids’ events, set your own schedule, choose your own income and enjoy a lifestyle and income which most people only drool over!

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