5 Reasons Successful Business Owners Regularly Attend Networking Events
No matter how big or small your business is, as a business owner, regularly attending relevant networking events is a must. The most successful business owners know all about the power of networking and so should you.
You’ve heard the saying “It’s not what you know, it’s who you know”, well there’s a lot of truth to that. Business owners often take on a lot on their own and have few people they can turn to within their circle for help and advice. That’s why the best entrepreneurs and CEOs know that networking is essential to fill that gap in support and knowledge. They also know that you should never stop learning even when you think you know your industry inside-out, so as well as attending networking events, they also prioritise life-long learning and attend many business-specific business support events.
Follow in their footsteps – Here are 5 reasons successful business owners attend networking events:
1. Increase your social network (for your own sanity)
Attending events is a great opportunity to increase your social network and communicate with other like-minded people. Connecting with other business owners will open up your world in many ways – from meeting potential partners to even making new friends.
Many people don’t realise that owning a business can be a pretty lonely endeavour at times. It can be an even harder adjustment if you’re a ‘people person’ going from a busy office environment to working for yourself. Even if you have a large number of staff, there are a lot of things you can’t talk to your staff about or even family and friends.
Networking and business events allow business owners to talk to others in similar positions and get the support they need, not only from a practical standpoint, but on an emotional level. It’s always comforting to know that you’re not alone and other business owners may have answers to some of your current challenges.
2. Meet potential partners and customers
Events are a great way for you to meet decision makers across various sectors and industries, therefore it’s a no-brainer to go along (with your business cards at the ready) as you never know who may be looking for your exact services. A number of our at the CEME Business Campus have told us they have gained valuable long-term clients from attending our business events.
By the same token, you could also have the opportunity to meet potential partners in your industry and work together. Remember to go into networking events with an attitude of sharing and giving as that creates reciprocal relationships, this could be through passing referrals or joining forces on a project.
3. Stay ahead of the curve
As a business owner it’s important that you stay informed in order to remain competitive in your industry. A lot of businesses fail due to losing touch with new and emerging changes in their business environment. Meeting up with other businesses can keep you up to date with the latest news and trends. Having conversations with potential clients and partners and even competitors is an invaluable form of market research not to be underestimated.
4. Get energised and stay motivated
You know that feeling you get when you’ve been to a great event… that boost of motivation. That’s exactly how a good event should leave you feeling; re-energised and refreshed. It should also get you thinking outside the box by throwing up some fresh ideas. There’s nothing like listening to some insightful presentations and talking to some new interesting people to refresh the brain. Not only can being away from the daily routine be really good for your state of mind, it can also be necessary to reactivate your creative energies. Use networking events as a way to give yourself a boost of inspiration when needed.
5. Increase your chance of making it through the first couple of years of business
Shockingly, around 80 per cent of UK companies fail within their first year and, according to the latest figures from the Office for National Statistics, only 42.4 per cent of businesses started in 2013 were still trading five years later. By attending networking events and other business support events, you can acquire the tools, skills and connections required to ensure your business doesn’t fall into this percentage. Essentially, attending events could save your business.
CEME run a variety of popular networking and business support events, many of which are free and open to all. Our biggest business networking event, CeMeet usually attracts between 50-70 local business owners, making it one of the most popular free business networking events in London and Essex. After sharing all of the reasons why you should attend more networking events, we’d love to see you at our next one! (We’ll be resuming these events as soon as we can after lockdown restrictions are lifted).