Having a successful business career requires a lot more than maximizing income while reducing expenses. Those who want to experience longevity and financial freedom must also have superior communicational skills and professionalism.
Enter networking and long-term relationships.
In order to create profitable projects, entrepreneurs must connect with like-minded individuals. This is where your soft skills come in handy. So, what exactly does it take to build a strong network and reach in the business community?
Businessmen and women that work in the same field will generally connect better outside the office. For instance, participating in non-business-related activities allows them to get to know one another. In order to be effective, people must attend extracurricular gatherings frequently. For instance, accountants usually organize CPA meetings around their ongoing training. Similarly, real estate investors tend to hold forums where they can get to know one another.
Being a part of any similar gathering will make it easy to introduce yourself to other professionals. From there, the relationship may slowly develop into a partnership. For instance, real estate investors often work on projects jointly, not to mention the power of referrals from others. Just consider how much demand an accountant will generate if a colleague refers clients their way!
Understand Human Psychology
Although networking can be as easy as talking to others, it boils down to some basic principles of human psychology. For example, businessmen are more likely to work with people they relate to. Finding common ground and sharing similar experiences can help build camaraderie.
On the other hand, we tend to avoid working with individuals that don’t match our own character traits. Think about John Doe who may like to take things slowly and one step at a time. Given such traits, he’s highly unlikely to associate with someone who is fast-paced and intense. Compatibility is a significant factor.
Use Contemporary Resources
According to Nate Armstrong of Home Invest, networking used to revolve around face-to-face interactions. As an experienced real estate investor, he has spent years developing his professional reach. Nowadays, however, Nate Armstrong supports countless other businessmen who rely on online resources. For example, think about the way LinkedIn remodeled internet-based networking. Not only does it allow people to connect, it further provides algorithms that help match individuals based on industry and experience.
Additionally, tools like LinkedIn are making it easier to overcome geographical boundaries. For Investors Relations Chair of Home Invest Nate Armstrong, for instance, finding fellow investors from the West or East Coast could be tricky since he primarily operates in Milwaukee, Wisconsin, with his business partner Dragan Berger, Co-Founder of Home Invest. Courtesy of online platforms, however, he can effortlessly locate those eligible to join his projects from around the world.
Once somebody creates a solid network, they must maintain their connections. For instance, if an investor in California works with a dozen associates in Texas, the relationship has to be revisited constantly. They should keep in touch and be ready to help their associates in any way possible. After all, the sole purpose of a business network is to exchange favors when possible.
Being a trustworthy individual will instill faith in people and open new doors.
Constantly Seek Engagements
In order to expand your professional network, you must dedicate countless hours to social interactions. The number of people who will become reliable associates is a small fraction of everyone you’ll meet. There is always a gamble revolving around an associate that somebody recently added to their network. One easy way to resolve this issue is to constantly look for people who would make good colleagues.
For those who enjoy creating strategies for time management, this could mean spending 30 minutes on LinkedIn every morning. People with great communication skills, however, can simply rely on meeting people in person and establishing face-to-face connections. [I’m not quite sure what you’re trying to say with this paragraph…]
Honesty and Respect
It goes without saying that a person will never build a strong network if they find it hard to show respect and maintain honesty, because people expect to be treated fairly. For those who want to develop a good professional reach, this implies a certain level of integrity and character. A person can’t allow any bias or stereotypes to cloud their judgment. Instead, they must treat everyone equally and in good faith in order to maximize the output of their network.