Networking is crucial to be successful in business. Mariyana Loz
, managing director of Dominant Worldwide
, however recommends carefully selecting networking partners in order to use this tool effectively.
Many entrepreneurs are building big networks and believe that the larger the size of their network, the greater will be the chance of success. Managing Director of Dominant Worldwide, however explains that this often is a false conclusion. She believes that smaller networks can be more effective than a huge amount of connections. Research from University College London reveals that people’s cognitive capacity is limited to handle no more than 150 to 200 relationships. In order to manage further connections effectively, additional help is needed (entrepreneur.com). “Networking and building connections are very important for business success and growth, but people should carefully choose contacts they can cultivate, see a specific advantage in selecting this person and be able to give something back,” says Mariyana Loz at Dominant Worldwide.
Research by the University of Edinburgh shows that superficial ‘friending’ with everyone, people we went to high school with, someone we met on the street or at a colleague’s barbecue for example, can quickly become unmanageable and stressful (entrepreneur.com). Mariyana Loz at Dominant Worldwide recommends an article by Punit Arora on Entrepreneur.com, on how to grow a professional network effectively.
A valuable network consists of a variety of different groups of contacts. Diverse networks do not only provide access to people and resources, but also new opportunities and markets (entrepreneur.com). “It is more about variety and quality rather than focusing on quantity,” explains Mariyana Loz at Dominant Worldwide. It is recommended to network with those who have something unique to offer, knowledge, skills, entertainment or introducing someone to contacts relevant to their business idea. Furthermore, entrepreneurs are required to identify their own unique skills in order to find people who are different, but complementary (entrepreneur.com).
Networks are composed of several groups, from school to the neighbourhood to sports and business partners. The most important networking skill for entrepreneurs is to bring people together across various networks (entrepreneur.com). “By helping people to build a bridge between two connections, you create chances that others may help you,” says Mariyana Loz. Managing key relationships and letting the word-of-mouth from other connections keep an entrepreneur in a positive light, can certainly be advantageous and increase opportunities in business. Thus, it is so important to determine the optimum number of connections that is comfortable to handle (entrepreneur.com). “With fewer relationships, entrepreneurs have it easier to get the maximum results of their networking efforts and this is what it is all about,” summarises Dominant Worldwide’s managing director Mariyana Loz.
Press release distributed by Pressat on behalf of Dominant Worldwide , on Tuesday 16 July, 2013. For more information subscribe and follow https://pressat.co.uk/