Ideas to Extract the Best Business Opportunities from Your Network

Growing from a hopeful beginner into a successful businessperson will require more than just a desire to do well. You need an effective plan and the right resources to get you from where you are to where you want to be. One of the first things you can do is look at some of the people you know. Your current network contains a mountain of opportunity. Here are a few simple ideas for how you can get the most from your network:

Think beyond your direct sphere of influence

Chances are that your network is more powerful than you think. Your boss, your boss' boss, former bosses and others who have achieved higher positions than you are all outstanding resources to tap into. However, in addition to being strong connections themselves, they will also have their own group of peers who could be powerful assets to help you open doors and build your business. Sometimes it’s not who you know but rather who they know that will provide the best opportunities to your business.

Stay connected to your co-workers

People you have worked with share one major commonality: you come from the same industry. As you venture out on your own they can be a great resource to keep you connected to what is happening in the industry and where new opportunities may lie. They may also move on themselves and open new doors for you in the future. In some cases, they may end up becoming your future employees. Even an entry-level marketing assistant that you worked with before starting your company could end up developing the credentials necessary to become your company's future VP of marketing.

Make all of your relationships win-win

When you think of the people in your network, look for the opportunities where you can add value to them. The old adage of ‘givers gain” cannot be underestimated. You don't want to be perceived as a person who only asks for help from others but never gives back. This doesn't have to mean that you are making big moves for everyone you connect with. Doing relatively small things such as writing recommendation letters or informing people of opportunities will go a long way.

However, don't be shy about asking for favors

Although you don't want your network to feel like you're taking advantage of them, this doesn't mean that you shouldn't be using their help when you need to. Whether you are doing research, need a recommendation of your own, or just need some advice, don’t be afraid to reach out to those in your network and ask for help.

Don't be afraid to pitch what you offer to those in need

There may be a time that people within your network have a real need for your services. For example, if you are starting a marketing agency, and a member of your network is opening (or already running) a business, he or she will need some help marketing the new business. The key to doing this is to refrain from being overly pushy. Instead of being salesy, approach your pitch in a similar way that you would inform your contacts of other opportunities.

Ask for client references regularly

Members of your network are connected to your best future clients. In order to find the way to reach them, you will have to do a little bit of work. Instead of hoping that your network will be automatically inclined to refer you, ask them for references to potential clients. You can build a complete client list from scratch using this method.

Use what you have to get to what you want

Although you should always be building new bridges, the connections that you already have are invaluable resources for helping your new business grow. Extract business opportunities from them whenever you can and of course be willing to return the favor.

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