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5 ways to expand business network

Business networking is the initial step to growth. It opens up the opportunity to connect with professionals and expand your business. Let's see how you can network.
BY Akshay Arora
Feature Writer, BusinessEx
Nov 13,2017

Business networking is essential for all entrepreneurs. It is the key to business expansion. It helps a business to create contacts within the industry with suppliers, distributors, incubators, mentors, lenders, etc. Having contacts is always beneficial as it comes in handy whenever there is a need. For instance; an entrepreneur of XYZ company ordered cloth material in bulk from a wholesaler, but the order is delayed, then if the entrepreneur has the right contacts, he/she can order it from some other dealer, but if he doesnt then he/she will have to wait which may delay its own distribution process and the whole supply chain cycle will be disturbed.

Some people may find it difficult to interact with strangers and lack what it takes to approach someone. But being an entrepreneur it is necessary to build the skill of communication as only this can unlock more opportunities to build clients, increase its sales, find financial support, etc.

There are five ways through which an entrepreneur can build its own network. Lets see:

  1. Business Exchange (BusinessEx.com)

    Business Exchange has simplified this networking issue as well. The portal offers a platform to create your own profile and interact with business professionals like incubators, mentors, venture capital firms, businesses, startups, lenders, brokers and investors to build your own network. This is a marketplace for business professionals. For an entrepreneur, it is essential to have connections with above-mentioned business professionals as they are the sole way to success. To create your own network, you can register onBusinessEx.

  1. Be active on social media

    In the present scenario, the social media is considered as an ocean of networking opportunities. There areplatforms like businesses, LinkedIn, Facebook, Twitter, Instagram, etc which has created a place where you can find the suitable business professionals and interact with them easily to create your own network. Over 3.58 billion internet users are there worldwide and these portals have made it possible to interact with anyone you wish to. The barrier of distance is not an issue anymore. So being active on all social media handles can majorly solve the issue of networking.

  1. Events and Conferences

    Every now and then events and conference happen in India which discusses a specific topic in a particular industry. So if you really wish to network to expand your business network, then these conferences are the best source to connect with high profile people of the industry you are catering your business in. These events also help to gather guidance and knowledge from industry experts besides building contacts. To know when and where these conferences take place you need to be active on social media or have some contacts with public relation agency or media people.

  1. Approach VCs and Incubators

    Approaching venture capitalists and incubators can solve the half of the networking problems there itself. These professionals help an entrepreneur to build contacts within the industry and help them in funding as well. They have contacts with business professionals in all industries so they are the best source of networking. But the difficulty came when you will have to choose a suitable venture capitalist or incubator; well this problem solves BusinessEx where right business professionals will contact you once you register your business on the platform.

  1. Explore in your own circle

    This is the easiest and fast solution to do networking. You just need to contact the persons you are in touch with and seek help from them to explore their network. This process will expand your network and is in comfort zone. But to approach a large number of people you will need to do the above-mentioned solutions.

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