Getting Customers

Common Networking Myth Busted: Quality IS More Important

If you think having a large network will guarantee success, you are mistaken.

Most entrepreneurs, especially the young ones, have the misconception that when it comes to networking quantity is more important. That is far from the truth. Just like with everything else, you should create a network that is reliable, trustworthy, and highly professional even if it is small. You might argue here that it is possible to build a network that is highly reliable and large at the same time. True, it is possible but how will you nurture it?

You can compare networking to tending an herb garden in order to understand this concept better. Initially you plant 2 herbs and nurture them just fine. You decide on expanding it and plant 2 more. After a while, you plant a few more. Remember, all these herbs are useful, helpful, and required. At the end of the year you have a huge garden full of various herbs but more than half of them are on the verge of perishing because you were not able to take good care of them through the year. This is what happens with networking: if you don’t tend to it, it will rot. That is the reason why we advise you to create a network that you can handle comfortably rather than creating an overwhelming network that can easily go out of control.

Apparently, the average person can handle not more than 250 contacts. Some can handle only 150 while others can reach 200 but there are barely any people who have been able to manage more than 250. If you have more contacts than this number and you’d like to manage all of them you will need to hire help. There is no rule to keep expanding your network when you can’t tend to it and you don’t need to do it either. It is the same as making friends – when you have too many, things can get stressful.

Here are tips that will help you:

  • Be strategic: Get close to them but not too close. Also, do not spend all your time with only a chosen few. Spread it evenly.
  • Be diverse: Don’t restrict yourself while growing your network. Include people from different wakes of life.
  • Focus on quality: Coming back to where we started, it is quality that you should focus upon and not the quantity. Even if you have only 100 contacts but are in excellent terms with them, you are much better off when compared to those who have 250 contacts and are unable to handle them.

Networking is about growing your network smartly and not recklessly. Create contacts only if you are sure you can handle them.

Entrepreneurial Learning

Having a wide network in the entrepreneurial world is always advisable but that doesn’t mean you create more relationships than you can handle. When it comes to networking, even a few great contacts will suffice as long as you can handle them and nurture them.

Leave a Comment

Your email address will not be published.

You may also like

Growing a Business

Want Great Guidance ? Find yourself a Super Mentor

post-image

They are the gods of small businesses, those inspired individuals who have achieved the highest levels of success. They can be the shining beacons who light up the path of running your business with their vision, wisdom and wealth of resources and contacts. They are The Mentors.

If you are fired with the passion to take your business to great heights, the best thing to do is find yourself a super mentor. Here are some tips to help in your quest

Pinpoint your Need

Sit down and focus your thoughts on your business growth strategy. Which area of the business needs a lift. Is is staffing, is it the finances, is it the production, is it the your lack of customers or is it the business as a whole that needs a makeover. Once you’ve zoomed in on the sore spot, this is where you need…

Read More
Growing a Business

Dreaming Big? You can Move Mountains with these Business Productivty Tips

post-image

You may be full of admiration for some people who seem to manage themselves and their work so usefully and efficiently. They seem to fit in so much productive work into the same number of hours which everyone has.. Let’s look what makes them tick and take a few tips.

Learn to identify your most productive hours

Its true, most productive people know which time of the day they can be most creative and efficient. They identify and allot these hours for the best part of their work. This way they are able to give their 100% awareness to the job and business productivity.

Early to rise- A winning habit

Waking up early is a personal habit that has all the plusses on its side. You need not necessarily go to work that early. It’s a habit that gives you more time for personal care, like mediation, exercise, walking,…

Read More
Growing a Business

Leadership Qualities that can make you an Icon

post-image

You may have reached the leadership position through sheer dedication to performance and a do or die attitude . Now that you are at the top, your viewpoint needs to change. You have to now be a role model, one whom others will look up to and follow. Here are some tips that can shape your leadership and management skills

Be Competent: Employees will look up to a leader who has good industry knowledge and management skills. If you do not possess these skills you should surround yourself with knowledgeable people who can offer good counsel. Competence is a trait all employees will admire.

Be Trustworthy: No one will look up to a person they cannot trust. Your employees will want to rely on you and count on you. In difficult situations, leaders are expected to apprise their employees of the situations and find solutions on how to address…

Read More
Raising Money

Are You offering Your Services Using the Right Pricing Strategies?

post-image

In these times of fierce competition, business people , mostly those that offer services and belong to the service based industry, are finding it a challenge to implement the right pricing strategies. It is virtually a struggle to set the right business price that will retain and attract the customers, and not drive them away. Follow these tips, the crucial dos and don’t s and you may be in a much better position to offer your services at the best price.

Maintain your Business identity and Dignity

If you are offering a unique or special product or service, don’t underrate it just because you want to build a better relationship with the customer. This will just cheapen your offering as another run of the mill. If its something special you are offering the customer, then communicate this fact to the client and get the equation right with the most…

Read More
Raising Money

What is a Fair Wage? How Do you Assess Fair Wage?

post-image

How do you figure out a fair wage?

This is a very common question for startups and small businesses. They can’t seem to decide or understand how to set wages and manage reputations at a time. They are determined to pay well but they also have to think about encouraging their employees to stay with them for a long time. This is why there is a need to think strategically.

Listed below are a few expert tips to help you decide:

Don’t Focus Only on Money

Money should never be the main focus for you or for your employees. You should decide on the wages in such a way that your employees are tied to your business. When your business does well they should be able to taste that success and vice versa.

Also, think about additional perks such as exclusive benefits and time off. Many employees value this more than the overall…

Read More
Raising Money

Tips to Winning Hard Negotiations With Ease

post-image

While some negotiations are easy, others are quite hard to win. If you stumble you will lose.

Whether it is a potential client or an investor, negotiations can be very tough and frustrating. The problem is that the moment you let your frustration overwhelm you, you will lose the deal and you will give in to whatever is being offered to you. In order to avoid that, here are tips to overcome tough times and to win even the hard negotiations:

Research!

Know your opponent as well as possible. This is the rule no matter what you do. You should understand your opponent to the T. Who the person is, what his culture is, what he thinks, what he stands for, how is his network, etc. are the questions you should ask yourself and answer through research before meeting up for the negotiation. Understanding the opponent will give you a great advantage.

Walking…

Read More