The Power and Skill of People Networking. Entrepreneur MBA Podcast 3.15
Summary: In today’s podcast episode, Stephen Halasnik and his guest Joe Mindak discuss the power and skills of people networking. Becoming a networking expert is a very valuable skill in the business world.
The Power of Networking is Endless
Networking is more than just getting business cards, sending out emails, and getting as many connections as you can on Linkedin. When going to a networking event you have to build relationships and bond with the person you are talking to, not just share information quickly, and then you’ll want to follow up with them afterward.
After making new connections there is always a chance they could end up expanding your business further down the road and potentially having job opportunities follow. There are always many networking opportunities because your name can spread between people through word-of-mouth and ultimately help your business.
Good networking is about sharing and forming beneficial relationships with many people. When having a strong group backing you, it will be easy to help each other reach your goals.
Steps to Using Networking as a Tool
Networking does not come easy for everyone, and one of the first steps that to take to gain networking experience is attending networking meetings/ groups, and start building professional relationships. You can even start with people who you know, such as co-workers that network and go from there and they can help you move throughout the chain.
When you come across a good connector, it is important to trust them when they tell you to meet someone. Sometimes the connection is not always going to work but there are times when the person can be referred to someone else, and these referrals will just grow your business contacts to a strong network.
When there is a problem the company or small business can reach out to their professional networking groups and get someone in there that can help with their needs to reach their goal.
Essential Networking Skills
Soft skills are the interpersonal attributes that are used for success in the workplace. With that being said below are some skills that are essential when it comes to networking:
- Active listening
- Social skills
- Interpersonal skills
- Nonverbal communication
- Caring/ empathy
- Ask questions
- Time management
All of these skills can help a networker grow in their position. When looking for a new job, the job market can be challenging, but you can seek out business networking groups to help save a lot of time. Being able to have professional relationships and professional connections can help your personal network. Start building your personal network and make it an important tool. Networking can help with growth personally and your business as well and you want to use these resources to your best ability.
Networking Mistakes to Avoid
Networking mistakes happen when you are waiting to build your network until you believe that you need it. When it comes time to needing it then there will be short relationships that will not grow much further because there is not a great bond formed. Another thing you should try to avoid would be asking for too much or too little. Try to not just say “can you connect me with…” get to know who you are talking to first and build a relationship with them because they might have someone even better that you could be connected with. Lastly, it is easy to get busy and forget to reach out to people, but it is important to keep those with who you’ve networked close. Simply connecting with them on social media will keep you engaged and remember them.
Conclusion: Networking opens up opportunities that you may not have been able to find on your own. The connections you make can be very important down the road in your career. Finally, networking is not just something you start and finish, you are always networking and constantly looking for more business people to connect with throughout your career, because you never know who you will meet and where it can lead you.
Guest Speaker: Joe Mindak, The Connective
Joe is currently the President of The Connective, An elite community of subject matter experts, entrepreneurs, and connectors that exists to unlock access to the invaluable relationships and resources that entrepreneurs need to build, sustain and grow their businesses.
About The Host Stephen Halasnik, Financing Solutions
Stephen Halasnik is the host of the popular, The Entrepreneur MBA Podcast. The Entrepreneur MBA podcast’s purpose is to help small businesses get over the $10 million per year in revenue mark. Mr. Halasnik is the Co-founder and Managing Partner of Financing Solutions. Financing Solutions is a leading provider of Lines of Credit to small businesses and nonprofits
Mr. Halasnik is a graduate of Rutgers University and has an Executive Masters from the MIT Birthing of Giants Entrepreneurship program. Mr. Halasnik has started and built 6 companies over 25+ years with 2 of those businesses making the Inc 500/5000 fastest-growing list. Mr. Halasnik is a best-selling Amazon author on business and regularly tweets about his ideas about growing a business. You can also find Mr. Halasnik on youtube talking about Entrepreneurship.
Mr. Halasnik loves small business. He lives in New Jersey with his best friend, his wife Gina. Mr. Halasnik’s number one purpose is raising his two boys, Michael and Maxwell, to be good men.
About Financing Solutions Nonprofit Line of Credit
Financing Solutions, an A+ and 5 stars rated BBB company since 2002, is a direct lender that provides lines of credit to nonprofits and small businesses.
Financing Solutions nonprofit financing product is a great alternative to a traditional bank line of credit because it costs nothing to set up, nothing until used, and when used, is inexpensive. The credit line requires no collateral and no personal guarantees.
Nonprofit Organizations use their line of credit to help with emergencies or opportunities when cash flow is temporarily down (i.e. Payroll funding)
Please feel free to fill out the no-obligation, 2-minute nonprofit line of credit application here. The time to set up a credit line is when you don’t need it so that it is ready to be used, just in case.
Note: Financing Solutions donates 10% of its profits to various nonprofit charities