1 A - Benefits of Networking and Creating Business Partnerships

Topic 1
Passage A
6 Benefits of Networking and Creating Business Partnerships

Written by John Denizen
Oct 5, 2020 9:00:00 AM
We all have had our share of ups and downs in the business world. When one door closes,
another opens; but we often dwell on the past and forget to focus on the present moment. The
power of networking can impact your business in numerous ways if done right.
Networking is about establishing and nurturing long-term, mutually beneficial relationships with
the people you meet. You can join groups such as the Growth Mastermind Group at GGI to learn
how to become a successful networker. Experts agree that the most connected people are often
the most successful. Networking will help you develop skill sets, to stay on top of the latest
trends in your industry, meet prospective mentors, partners, and clients, and gain access to the
necessary resources that will foster your career development.
Having a healthy network can lead to strong career fulfillment as well as progression and
opportunities. Your network can include anyone from friends and family to work colleagues or
business connections.
Here are 6 key networking benefits:
1. Shared Knowledge
Networking is great for sharing ideas and gaining new-found knowledge. Whether you're
receiving feedback or discussing your perspective on a topic, it will help expand your knowledge
and allow you to see things from a different perspective.
The opportunity to gather new information is an often-overlooked benefit of networking. It also

offers career progression and development.
Feedback is a valuable tool in networking because it allows individuals the opportunity to learn
and grow. Whether it's positive or negative, it's a good thing because it shows that your peers are
invested in your future.
Within a group, it's likely, there will be someone who has already been where you are today, and
they’ll be able to provide you with the proper resources for success. That will allow you to avoid
some of the common mistakes business owners make in the industry.
2. Gain Creative Ideas

Your network can be an educational source of new perspectives and creative ideas to help you
along your business journey. You can never tell how much a person knows just by looking at
them. People who join network groups are seeking to learn new business strategies and share
their personal growth experiences.
Being able to exchange information about past experiences and current goals are key benefits of
networking. It allows you to gain new insights from discussions had with your network group.
When receiving new ideas, it also helps you establish best practices when navigating through
your career.
3. Strengthen Business Connections

Networking is about being selfless and sharing opportunities that can help others. It’s important
to remember that Givers Gain Immensely. By doing this, you plant the seed for mutual assistance
when you need help achieving your goals. Engaging with your connections regularly is a great
way to keep a good rapport with them.
It is nearly impossible to gain new business without other people's help - successful public
figures Tyler Perry, Steve Jobs, and Oprah Winfrey, have some of the best teams around them.
Let's reflect on the type of support system and people they have in their networks. The majority
of these public figures work with the same people they have in their network. Use every open
door as an opportunity to build new partnerships with people and share what you do. The best
relationships are built on first impressions that turn into lasting connections.
As long as you’re friendly, professional, and committed to doing everything you want to achieve,
your outcome will always be successful.
4. Receive Opportunities
It’s natural for networking to result in opportunities. Business and career-minded individuals can
expand with minimal effort because of opportunities presented to them through networking.
“Luck is what happens when preparation meets opportunity. You need to buy a ticket to win the
lottery.” - Kevin Davis, Founder of First Workings.
Whether it’s a referral, partnership offer, or request for your service, it is vital to always be ready
to seize any opportunity that comes your way. Those who use networking as a tool are more
likely to succeed in their journey.
5. Growth in Self Confidence
Networking is a key tool for growth in any career field. The communication and social skills
gained from networking builds self-confidence and promotes positive self-esteem. It’s one thing
to learn how to think positively, but once you start acting on it, you’ll be able to change your
circumstances. Interacting with like-minded people exposes you to another level of excellence.
Networking is all about being a fearless risk-taker. You can never predict the outcome of any
network encounter. The only thing you can do is be kind and stay open-minded. When you’re
open to the world of possibilities, anything is possible. Showing up is half the battle; you have to
come with your all and be confident in every decision you make.
6. Growth in Status
Developing your career status is a long-term process depending on how you focus on your
networking path. Top career professionals are where they are today because of the position they
have grown in their network. The contacts you make along the way can potentially impact you
and contribute to your growth.
Being visible and getting noticed is a benefit of networking that’s essential in career building.
You can build your reputation as a knowledgeable business expert in your profession by offering
useful information and resources to people who need it. Raising your profile will help you stand
out to recruiters.
We’ve all heard the saying, “It's not what you know but who you know.” The power of
networking is a true testimony to that. Your network can influence growth in your career status
and pave the way for better opportunities.
(Adapted from “6 Benefits of Networking and Creating Business Partnership” written by John Denizen on 5-Oct-20 in Gray
Group International; https://www.graygroupintl.com/blog/the-benefits-of-networking-and-creating-business-partnerships; 12-
Oct-21)

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Topic 1

6 Benefits of Networking and Creating Business Partnerships

Here are 6 key networking benefits:

The opportunity to gather new information is an often-overlooked benefit of networking. It also

2. Gain Creative Ideas

3. Strengthen Business Connections

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