Building A Strong Business Network

Jubran Siddique, Founder and CEO at Zaryah Investment Company.

In today’s business world, building a strong network is essential for success. Networking goes beyond mere transactions and your contact list. Networking requires a focus on cultivating meaningful relationships through which businesses can gain access to collaborations, partnerships and joint ventures.

Networking is not just about immediate gain; it is about knowing each other well and cultivating trust and rapport. This shift in perception allows businesses to build deep, meaningful connections that go beyond superficial interactions. As Dr. Ivan Misner explains, “Networking is a marathon, not a sprint.” (Disclosure: I am a member of BNI, an organization Dr. Misner founded.)

Benefits Of Networking

• Access to opportunities: The connections you build can lead to introductions, referrals and recommendations that propel your career or business forward. For example, I found many of my best investors while networking, and I used that moment to share something that would help them achieve their financial milestones.

I’ve noticed that a common mistake individuals make during networking is they try to generate opportunities by selling to the room rather than through the room. In my experience, you always gain more opportunities when you use the room you are in for networking just to build your trust curve rather than using it as a cold-selling opportunity.

• Knowledge sharing and support: By connecting with professionals from diverse industries and backgrounds, you can gain insights and different perspectives. Engaging in conversations can spark new ideas, challenge your thinking and broaden your horizons. And the support system of like-minded professionals you meet can also offer mentorship and guidance during difficult times.

• Visibility and credibility: Attending events and conferences can help establish you as a thought leader. As you build relationships and establish your reputation, others may seek you out for advice and collaboration.

• Personal and professional growth: Through networking, you can develop essential skills such as relationship-building. It also pushes you out of your comfort zone and helps you develop a broader perspective.

Through networking, I was able to discover my true potential. As it is often said, “You are the average of top five people around you,” and “The people you spend the most time with shape who you are.” I was a complete introvert and never believed I could speak and mentor a crowd until one day, I met a friend at a networking event, and he told me how he felt I could be a good speaker and mentor. Today, I am a speaker in international forums, and that person became my business partner.

Important Points To Remember

Here are some key points that are crucial for successful networking.

1. It’s about relationship cultivation.

It is crucial to focus on building genuine relationships rather than solely seeking immediate gain. This approach not only brings in long-term business but also instills a strong culture within the business itself.

A strategy that has worked excellently for me—especially with high net-worth individuals or successful business owners who are difficult to establish a relationship with as they often aren’t able to share more than 30 seconds with you—is to highlight one of their struggles from their early days and relate it with your journey, and tell them how key it is for you to have them as a mentor. This allows you to connect with them and develop a relationship for the mentorship process.

2. Consider the VCP process.

The VCP process—visibility, credibility, profitability—is an approach to networking that was introduced by Dr. Misner. The process begins with creating visibility within your community. By actively participating in industry events, conferences and online platforms, businesses can increase their visibility and establish their presence.

This visibility then leads to building credibility over time as businesses consistently demonstrate their expertise and value. Once credibility is established, profitability follows as businesses gain the trust and confidence of their network.

3. Aim to balance tradition and innovation.

Something that I realized during networking sessions is that, except for a few people, the majority of people at networking events are looking to leave their comfort zone and break the ice.

What usually works for me is to go to networking events with a friend who works in a different industry and who understands me well. This allows you to cover the room faster and establish a trust curve. By networking in twos, you can also break the ice while you two are speaking to each other; you can also invite other single networkers to join you, making the ambiance more comforting for others and allowing you to create a FOMO effect.

I’ve also found it’s best to use weekends for networking and to balance this networking through doing some activities together like sports, welfare, training, mentorship, etc. Often, networking is more impactful when combined with an activity.

Strategies For Building A Strong Business Network

1. Go to industry conferences and events.

Events are an excellent way to connect with professionals in your field and establish rapport. I usually recommend LinkedIn or Google to search for trends and keep yourself updated with the latest events and conferences in your respective field.

2. Join professional associations and organizations.

Become a member of professional associations and organizations relevant to your industry or area of expertise. These groups often host events and seminars that can facilitate connections with like-minded professionals.

3. Leverage social media and online networking platforms.

I usually enjoy networking in online forums like LinkedIn, X (formerly Twitter), Instagram and Clubhouse. I engage by commenting on lives and posts regularly from the people I want to develop a relationship with.

4. Offer value and be authentic.

Building a strong business network is essential for professional growth and success, but it is not just about expanding your contact list; it is about enriching connections with trust, respect and mutual benefit.

Networking is not just about what you can gain; it is also about what you can offer.

Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?