From afar, a group of businessmen will appear to be smiling and getting drunk on expensive wine; you might think they are just having fun, and some people will ask questions such as “how come they are not using this time to grow their businesses?” but that is exactly what they are doing. They are networking, and it is a crucial part of positioning your business for success.

Networking is all about meeting with other colleagues and business owners in a social environment to exchange ideas and contacts in view of possibly collaborating in the future. It is time well spent. If you engage in networking in the right places, you will meet important people, any of whom might become investors in your business in future, or provide critical information that you can use to stay ahead of the competition. It is true that networking can be used to discover important information about your competition. And with this information, you can make better decisions to grow your business.

The best places for networking

You can identify the best places to meet people related to your business field or other interests by searching for events online, joining social clubs that attract this group of people and attending seminars and functions hosted by the biggest players in that industry.  You can also meet with a group of like-minded entrepreneurs to organize these social meetings where interested people will come to share ideas and meet up.

Making the best out of a networking event

First, you have to know what your objectives are; do you need a sponsor, investor or are you trying to gather information?  Know what you want and go for it. You should also find out if people who have successfully achieved your goals are attending the event. Prepare insightful questions to ask them, so that you are ready whenever you get the opportunity.

Dress appropriately

You should follow the dress code so you can blend in easily during the event.

Find out how you can help others

It is not always about what you can get from other businesses; find out how you can help other businesses grow too. I can assure you that while you are at it, you will learn something useful.