Build a business network

About the advantages of building and maintaining your own business network

It is a popular saying that relationships are especially harmful to those who don't have them. Both privately and professionally. Good connections are therefore often considered THE ultimate superpower, especially in the business world. That’s why the motto is usually: build up your own business network as early as possible. But how do you build up your own network and how do you maintain your business contacts as effectively as possible?

Advantages of business networks

It's no secret that handshake quality has long since replaced the elbow mentality of past decades. Thus, business relationships and professional networks have many advantages for everyone involved. Among other things, they promote the exchange of expertise, specialist knowledge and experience. Especially in sectors that are highly specialized or that deal with complex issues, mutual exchange is essential. In the network you receive helpful tips and important information. Perhaps synergies will also be recognized and the go-ahead for joint projects will be given. Mutual support in particular is a truly outstanding opportunity for business networks. That is why networking is not only an important, but even an essential factor for the success of your company. But networking does not only pay off at management and company level. Employees and freelancers also benefit from exchanging ideas with like-minded people and in this way, they can receive new job opportunities, valuable inspiration and help with projects and cooperation.

Building business networks

But how do I build a successful business network? The most important rule is quality before quantity. Make sure you start building your network with the right people. It does not mean your business network should consist exclusively of CEOs, managers and executives. Quite the opposite. Especially in the beginning, look for people with similar aims and goals. Contacts in higher positions are just the second step in network building. Because they are already where you (presumably) want to go and thus serve as mentors or role models.

Tips to help you build your business network

1. Define goal

True to the motto "Relationships hurt those who don't have them", it is usually better to have a network than to stand alone. However, it is particularly important when setting up a network that you define your aims and goals in advance. Do you just want to network with like-minded people and share industry news? Or are you looking for a new job? Perhaps you are already planning an exciting project and are still looking for the right partner. Depending on which goal you prioritize, your network will look like in the end. Please remember: quality is always better than quantity - especially at the beginning of building a business network.

2. Attend events

Events are probably the easiest way to find like-minded people. At such events, the participants have goals similar to yours and conversations happen quickly. The question often arises which networking events you should attend to expand your business network. But there is no general answer to this question. The best way to start is usually at classic industry events such as trade fairs, meetings, get-togethers or information evenings. Associations or organizations (industry association, chamber of commerce, etc.) often carry out special networking get-togethers or joint excursions.

3. Network your network

Just like you, many people would like to build up and expand their professional network. Help the people of your network by connecting them with each other. For example, through joint meetings where you network your contacts. It not only strengthens your relationship with existing contacts. You too benefit from synergies that develop around you. And since- as is well known - everything in life and in the business world is a matter of give and take, you can of course also hope that your contacts will certainly reciprocate. Interconnecting your network will also help you to find suitable partners and customers for your business network.

4. Provide benefits and help

Of course, you build your business network primarily for yourself. But as already mentioned in point 3), you should not only focus on your own advantage. Also help others to network and be generous when it comes to favors. You will see that you will be remembered better this way and that others will be much more willing to help you in return. Networks created in this way are more successful in the long term.

5. Deepen contacts

Especially in times of social networks, the number of contacts is usually given more value than the quality of these connections. It is above all the "good" contacts that promise the most benefit. Don't just let conversations fizzle out, invest time in your network. Check in with people in your network regularly, arrange to meet for lunch or set up a meeting at the next industry conference. Every contact that goes beyond mere small talk is enormously valuable. Only those who go in-depth will get the full potential out of their business network in the long term.

Building a network – real life vs. online

Building a network is now easier than ever. There are myriad platforms, both in private and in business, that function as online networks or social networks. In German-speaking countries, LinkedIn and Xing are the best known business platforms. But how can I expand my business network online? Here the same applies as in real life. Go for quality instead of quantity. Many platforms are primarily designed for growth and usually focus on quantity with "connect" buttons and prominently placed information about the number of people in the network. On most platforms there are also chat and comment functions. Additionally, you can post your own content and thus establish a relationship with your contacts. In principle, all business platforms are suitable for networking in the business area. It is important that the majority of your contacts are regularly online on the relevant platform. Because this is how active networking works.

Cultivate your business network

As already mentioned, a business network should not only be built up, but also maintained. This applies to business as well as to private relationships such as friendships. Check in with your contacts regularly. Not necessarily to inform about groundbreaking news. Just ask how the other person is doing. If chemistry is right and you really like each other, then arrange to meet for a business lunch or dinner. Lunch appointments in particular are ideal because they can be perfectly integrated into everyday work and, because they are limited in time, they do not run the risk of becoming too long. Cultivating your business contacts is particularly effective when you set up a system. Create an overview of your contacts and put reminders in your calendar when you should get in touch with one of your contacts again. Birthdays, company anniversaries or a job change are also ideal occasions for a conversation. You can find further tips on networking HERE.