No matter what type of business you have, you will always have “competitors”. As we would all love to live in a perfect world where our businesses and services are the only offered, in today’s economy you aren’t simply competing with businesses in your area but business all over. When a consumer is making the decision of whom to do business with, they will feel more comfortable doing business with someone they trust, and therefore relationships matter. Clients can tell the vendors that work together often or socialize outside of the event industry. We all know the phrase “it’s not what you know, it’s who you know”. However, we’re a true believer of community over competition 100%! Not to mention, there is enough business for us all and we can’t do them all…it’s good to know others in your community that you can recommend when you are booked. So why not get connected with other vendors and network?
Build Relationships- Building relationships creates business in the future. When networking and meeting other business owners, establishing what it is your company offers and its vision will help create new avenues for business. Networking is a means for a business to tell their story. Utilizing networking socials to introduce your business and products can expand your client base. “Word of mouth” has become the top marketing tool in building clientele. If you are not telling your story and explaining what you do, your business could remain stagnant. Be strategic in planning where and how you spend your time. Select the functions and programs based on the most impact and effectiveness. You do not have to be everywhere all the time, but you do have to make choices to maximize the time you have.
Networking opens the doors to many beneficial avenues. When collaborating with people from your industry, you are bound to get talking about what has been happening. This provides a great opportunity to hear what trends are occurring, and areas in which others have been focusing on. It is also a great chance to understand the trends of your target market if you are attending for business growth purposes. Networking events provides you’re with the chance to connect with key influences and leaders in your field who could offer advice for growth in your company.
Networking events have been very beneficial to me. As I approach in the near future of entering my field of work, I have had the opportunity to learn and shadow many key influence’s in my career field. I have learned building connections with others with like-minded goals and objectives will benefit you and build a relation that will increase business opportunity.
~Riddim Hackett (KYAE Intern)