Why Networking is So Important by Mel Feller

There are many benefits to networking but you have to remember that we are dealing with people. I will start with a reason that a benefit, which does not necessarily convert to Dollars, is that we cannot overlook the simple benefit of having friends in the business with no strings attached. We need to know someone has our back and that we have people who are there for us. It can be lonely when you work alone.

Mel Feller believes in Networking

Having someone who understands is extremely valuable on a psychological and emotional level. Your friends can chat to keep you motivated and cheery, are a sounding board for ideas, or will listen to you moan when you need it.

The most significant monetary benefit my network has brought me, and we are talking six figures from just one contact, is the opportunities they expose me to or introduce me to.

If you are not getting enough opportunities, then you need to build your network. Opportunities like joint ventures, client leads, partnerships, speaking and writing gigs, businesses or assets bought and sold.

We rely on our networks to advise us and keep us on track, and we give back to our networks in return. Give a lot and you have credit in the bank when you need to make a withdrawal. The better your network the more knowledge you can tap into. Remember, if you only get occasional advice from your network then you are in significant net profit from your efforts.

In addition, you become whom you associate with. This works in the negative, as any parent will have thought about while considering who their kids friends are or will be. It also works in the positive, if you surround yourself with the right people then the attitudes, habits, worldview, and associations will rub off.

There is a danger that some people will take from this that they should go out with a gimme gimme frame of mind. That is not what I am talking about. My hope is that you will see that while the impact might not be immediate, the compound effects of networking are significant and long lasting.

Therefore, to me there are several great benefits in networking both personal and business.