Business networking is very similar to investing in many ways. 

 
Networking like investing works best as a long term strategy. If you invest for the long term, and contribute regularly your chances for success increase exponentially, and so do your gains for that matter. It is extremely rare for anyone to double their money in 30 days or 90 days. Building a strong business network that pays dividends is also a long term strategy. It’s not something that you can work really hard on for 1 month and expect to get more business than you know what to do with.

The most successful investors are those who invest consistently over time. The same is true of successful networkers. They’re committed, and show up consistently over a long period of time.

Most good investors are diversified. They choose several different investments in several different industries to insure that if one of them should fail the growth of the others should more than make up for that one loss. Good networkers build relationships in diverse areas. They’re involved with their local chamber of commerce, an association group or two, and maybe a non-profit board or pure networking type group. They find that having a diverse network allows them to add more value for everyone in each of their individual groups.

Investors can increase their likelihood of success by doing their research. They learn all about the particulars of the companies they invest in. They look to understand the industry and the opportunities and threats they face. Networkers increase their likelihood of success and their value to other networkers by doing their research. They talk to those in their network to understand what they need, and what their challenges are. They constantly read to understand what’s happening in their local economy and in their industry.

Experienced investors know that there will be ups and downs, successes and failures, and eventually they’ll come out ahead. Experienced networkers know that economies change, people come and go, and over time as they build and solidify their relationships they will be successful.

Look at your networking efforts as a long term investment strategy. Network consistently over time with a diverse sampling of your community. Do your research, and know how you can add value to those you meet. Know that there will be set backs, and incredible surges. Do all of these things and your investments in networking will pay off.

Happy networking!