Business Networking: An Underlying Source of Profit

There are many ways you can market your business, the most effective of which is building business networks. As the word suggests, networking indicates creating new contacts and communicating with other businesses which may or may not be in the same industry as yours. However, one cannot truly understand the value of networking until witnessing its benefits first-hand.

Sharjah Media City (Shams) hosted its first gathering on New Media Trends and Opportunities, where a group of the companies registered within Shams got together to participate. On several occasions, companies were exchanging their cards and engaging in lengthy talks about their businesses and the possibility of collaboration at some point in the future. Even companies with the same business activity conversed with each other and shared their visions for their respective projects.

Building relationships with other business groups helps you build presence in the marketplace. Due to the growing number of entrepreneurs as well as its strategic location, the UAE has become an ideal place for companies to establish relationships. Business- persons from various industries, regions and cultures converge to the UAE to grow their network.

Networking events and gatherings are usually underestimated. Unlike what many think, the primary purpose of a networking event is not selling your products and services, as much as it is to go home with connections and partnerships that will help your business in the long run. Networking will not only open doors for you, it will also clue you in on what’s happening in the market; a lot can be learnt from the smallest event.

For most networking events, there is no criteria for the profile of the attendees, as long as they share their enthusiasm for entrepreneurship. The circle you will be mingling in doesn’t have to be of the same field. As a matter of fact, networking is even more powerful when you are in a room full of people with different areas of expertise. You learn more from those who are different from you than those who are similar.

Lastly, networking doesn’t end when the event is over. If you are keen on maintaining the relationships you created during the gathering, you will have to keep in touch with the businesspeople you met. See their business cards, do some research and email them as a follow-up to the conversation you had during the meetup. A stranger you meet at an event might just be valued business partner or client in a matter of weeks!