Membership at Business By Referral, Brantford, Ontario

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Here is the question everyone should ask: You are in need of a professional. Who would you trust more: a business you chose at random out of the Yellow Pages, or a business recommended by a friend.

This question is at the heart of who we are at Business By Referral. We believe that Networking should be an integral cog in your business’s wheel to success.

In a recent US survey of more than 1,400 businesspeople, 88 percent of the respondents said they never had a college course that even covered the topic of networking. Yet, based on another survey of more than 2,500 businesspeople worldwide, 75 percent said they got most of their business through networking!

Networking, which can help you build word-of-mouth marketing, is one of the most important ways for entrepreneurs to grow their businesses, yet it isn’t taught in colleges or universities around the world. Despite that fact, according to a survey of business professionals, 82 percent of all businesspeople belong to some type of networking group!

The obvious question is, “Why?” Why does such a high percentage of business people place such importance on Networking? According to another survey conducted of more than 2,000 people throughout the United States, the United Kingdom, Canada and Australia, networking is about building your "social capital." The highest-rated traits in the survey were the ones related to developing and maintaining good relationships. It's about cultivating relationships with other business professionals. It's about realizing the capital that comes from building social relationships.

Successful businesspeople understand that networking and relationship marketing are more about "farming" than they are about "hunting." It's about building long-lasting connections with other professionals. This involves building deep networks strongly rooted in a bond or connection that is developed over time with other people. Among the most important connections are those with your referral sources, with prospects these referral sources bring you and with customers you recruit from the prospects. These relationships don't just spring up full-grown; they must be nurtured.

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