Business Networking Event: What Is It And Why Should You Attend?
What Is A Business Networking Event?
Networking event refers to social or economic activity where entrepreneurs meet with intention of forming business relationships, recognizing, creating, or acting upon business opportunities.
As an entrepreneur, creating connections and putting your brand out there is critical to the success of your business.
Attending a networking event you will meet like-minded people, exchange a business idea or two, and leave knowing you brought your brand some exposure.
Networking events could provide you a once in lifetime opportunity or connection that could take your business to the next level.
Business Networking Event Key Takeaways
- Networking events give entrepreneurs a chance to hone in their business mission and vision
- The first-hand connections you make at the networking events is incredibly important
- Attending a networking event provides you a platform where you can shut down any negative voices about your brand
Understanding How Business Networking Events Work
No matter how big or small your business is, as an entrepreneur you need to attend networking events. By attending industry-relevant networking events, entrepreneurs, get a chance for communicating with other like-minded and motivated people.
Essentially, by attending a networking event or conferences you could acquire the tools required to ensure your business is successful.
It is through meeting business leaders that owners of startups can gain inspiration and learn about the industry. However, turning up to a networking event is not just enough. You must put in as much effort as possible by talking to as many people as you can.
During the networking event, collect as many business cards and remember to follow up with your new connections via email or a phone call.
Real-World Examples Showing why Networking Events Matter to Entrepreneurs
1. James Fallon
James Fallon is our first example of how networking events can help entrepreneurs.
The talented comedian had networking skills, setting him apart from the other struggling comedians.
For James, being successful in the entertainment field depends not only on marketing yourself but also, how well you connect with the people who matter.
According to business insider, Fallon's rise is due to his focus on networking with people.
Eloqua marketing automation and intelligence platform, was sold to Oracle in 2012, a deal, which saw the owners pocket up to $871 million in 2012.
According to Entrepreneur, the entire deal went through seamlessly because Paul Teshima, Eloqua co-owner, had built strong, shared relationships with the people at oracle.
Owing to the great networking skills, Eloqua was purchased for more than 200 percent of its estimated public market value.
How To Get Started With Business Networking Events
- Find upcoming potential networking events where you can make connections
- Take time to define your networking goals
- Know your worth
- Identify conversational icebreakers
- Bring a friend to the professional event
- Focus on strategies for overcoming introversion, so that you are ready to speak to strangers
- Remember to collect business cards and share contacts
- Find a reason to follow up so that you keep the relationships going
Entrepreneurs can make use of different tools to find local and international networking events. Examples include Lets Lunch and LinkedIn.
A business- and employment-oriented social networking service that operates via websites and mobile apps.
- Pricing: Freemium
- Twitter: @LinkedIn
- Website: https://www.linkedin.com
Businesses using LinkedIn:
904 successful businesses are using LinkedIn ➜
Attend Networking Events
As an entrepreneur, creating connections and putting your brand out there is critical to the success of your business. Networking events are a great way to do this.
At the very least, you'll meet like-minded people, exchange a business idea or two, and leave knowing you brought your brand some exposure.
Or, you'll leave with a once in a lifetime opportunity or connection that could take your business to the next level.
Either scenario is a win-win, so you may want to consider putting a few events on your calendar every month and just getting out there.
Scott Bishop, founder of Up and Social provides us with a great example of how attending networking events gave him the opportunity to meet entrepreneurs and ultimately get referrals
Attending networking events and the chamber of commerce meetings was a huge factor in meeting potential clients. It didn’t all happen at once though. It took some time to cultivate these relationships with prospects I met at networking events. We’re talking anywhere from six months to a year.
What I learned from that experience is that the people you meet at networking events aren’t really prospects. They are associates who can become friends and eventually will play a key role in winning high-quality clients for your business.
Some of them became clients, but mostly my relationships with them afforded me professional introductions and business referrals.
Since launching Up And Social, we’ve seen the most success in B2B networking. That includes attending local networking events, personally reaching out to businesses that look like they might need to upgrade their websites, and providing valuable content and education to entrepreneurs and small business executives.
Hey! 👋 I'm Pat Walls, the founder of Starter Story.
Get our 5-minute email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings