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Ten Reasons Why Your Business Network Is Your Business’ Net Worth, And, How To Make The Most Of It?

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Ten Reasons Why Your Business Network Is Your Business’ Net Worth, And, How To Make The Most Of It?

The simplest definition of business is to sell or buy the goods or services. Though, It may define the trading style of the past centuries but now business is not that much simple.

One need to compete strongly to stay in the market, to be the best in every sense and above all being a part of business network is almost inevitable.

Joining a network is not at all about catching the bandwagon instead it’s a shield which saves you in more than a dozen ways.

In other words you can say that your business network is your business’ net worth. Hows and whys are discussed here:

1. Like Nokia Like Business Network… Connecting People

Business network works almost in similar way to the Nokia slogan “ connecting people”. People live in society to avoid isolation and same thing a businessman do by joining an already existing network or creating his/her own network. It serves as a platform to share the ideas and knowledge, to meet new ones, to guide them and get the guidance from the experienced ones. Find out more about how a business network enables connection among the business men here: http://www.forbes.com/sites/geristengel/2013/04/24/6-ways-women-can-power-up-their-businesses-with-networking/

2. Source Of Practical Information of Business Network

You can learn 100s of the tricks from a book to sell your service or product but only the information which you gained through market research can reveal that what actually the customers want. Loyal and trustworthy friends in a network offer this unique and 100% relevant information. Its better to find few trust worthy people instead of expanding the network to the endless limits.

3. A Realm Of Similar People With Similar Interests.

In “5-Star Business Networks” Vivek Sood, famous business writer, recalls that how he found a group of trustworthy and loyal people ready to share their ideas at Linkedin.com. You may find it interesting to read the whole story and his view point about how joining networks positively effects the business here. http://www.amazon.com/The-5-STAR-Business-Network-Corporations/dp/061579419X Same thing happens when you become part of a network. Joining a business network enables you to find people with common interests and goals similar to yours. Their knowledge and first hand information improves your understanding towards the business.

4. Makes Yourself More Visible Business Network

You may find it difficult to meet new people but in order to expand your business or to brighten your career it is highly recommended to make yourself as much visible as possible.

The easiest way to do so is to join a network where simply interacting with others can do wonders for you and your business as well.

Wisely chosen or created business network offers you the right place with the right people, to do the business.

5. Recruiting Platform: Business Network

No matter whether you need to recruit or to be recruited, in either sense business network can be helpful.

By making yourself visible in your network, you can easily be remained in the mind of those who are the part of this network.

Business network works like referral programme where the most visible ones are highly refered as well. Once you get referred or having a referral, respond positively. It will create more chances for you in future.

6. Refines Communication Skills. Business Network

When we discuss business networking, it also means communication between the two individuals.

This interaction helps in learning that how a team leader deals with the staff or how a businessman responds in a crucial matters and takes decision.

Business networks enable to learn the suitable human behaviour in various situations. Keep interacting with others because only the practice will bring perfection to your communication skills.

7. Refines Target Market

Every businessman goes for some market research to find its target market where the offered service or product is highly needed.

The loyal and trustworthy members of the business networks help in cutting down the research expenditures and directly targeting the refined market.

You may also share your knowledge to strengthen this bond because business network is all about mutual interests.

8. Your Network Is Your Personal Asset Too!

Remember that you are social being at first and to keep socializing is the basic need of any human being. Business network built on pure relationship is one of the most precious assets you have. So don’t hesitate in making strong relationships much more worthy than your business. For more information on the topic , please follow the link: http://www.cbsnews.com/8301-505125_162-28245723/10-reasons-why-your-network-is-your-biggest-asset/

9. Networking ,The Top CBM For Today’s Business

The concept of business rivalry is fading because the concept of business network has made it possible for the key rivals to sit on a same table or to connect via internet and discuss the common interest of each other and threats being faced .

Thus, business networking is working like confidence building measure for the two rivals. Not only the rivals, the two strangers connected through a network also start believing in each other because of the connection built through this network.

10. Business Network-A Multiplying Factor

Business network is all about mutual trust, which leads to cooperation and finally makes it possible to have a multiplying factor in each sense.

This mutual cooperation can lead to the joint ventures or increase in investments and much more. You only need to focus on strengthening your relationships with other members of the network.

Be loyal and trust them to get the same in return. For more tips you may follow the link: http://business.financialpost.com/2013/05/27/6-tips-on-how-to-get-the-most-out-of-business-networking/

Using the web for your business is an art and those those who are running their business from home, surely needs mastery because here the situation is quite different from the ordinary business.

Learn More Business Network

The guardian pays more light on the issue in the following link: http://www.theguardian.com/small-business-network/2013/feb/25/niche-business-networking-groups

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Copyright - These concepts, frameworks and ideas are copyright of GLOBAL SUPPLY CHAIN GROUP from the time of their creation. Do NOT copy these without permission and proper attribution.

Notes:

1. These ideas and concepts will be usually expressed by our thought leaders in multiple forums - conferences, speeches, books, reports, workshops, webinars, videos and training. You may have heard us say the same thing before.

2. The date shown above the article refers to the day when this article was updated. This blog post or article may have been written anytime prior to that date.

3. All anecdotes are based on true stories to highlight the key points of the article - some details are changed to protect identification of the parties involved.

4. You are encouraged to comment below - your real identity and email will not be revealed when your comment is displayed. Insightful comments will be featured, and will win a copy of one of our books. Please keep the comments relevant, decorous and respectful of everyone. All comments represent opinions of the commentators.

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ABOUT THE PRINCIPAL AUTHOR

Today, Vivek and his partners are among 20-30 people on the planet earth who have this deep understanding of supply chain systems, practices and tools. CEOs, COOs, executives and Boards call them in most challenging situations once they know the full potential of supply chain based transformations. Following are key milestones in Vivek's journey:

  • Started in 1983 as a merchant navy cadet at 18 years age, worked his way to qualify as a Captain – qualified to take command of any merchant ship, worldwide.
  • Earned a top tier MBA from UNSW at the top of his class.
  • Joined highly regarded strategy consulting firm Booz Allen & Hamilton, consulting to the CEOs, Boards and senior management of global corporations within Australia.
  • To learn and specialise in supply chain – against all odds, sought out the co-inventor of supply chain in Germany and convinced him to be a partner in his firm, GLOBAL SUPPLY CHAIN GROUP, launched in January 2000.
  • More than 500 successful blue chip projects with high impact business transformations in large corporations using the full power of SUPPLY CHAIN MANAGEMENT.
  • 4 Seminal and path breaking business books IN SUPPLY CHAIN MANAGEMENT – these are available in bookstores and universities and libraries worldwide.

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THE 5-STAR BUSINESS NETWORK

If you are deeply passionate about the world of business and supply chain networks as I am, and enjoy digging answers to critical questions that will help build and steer your business with wisdom, then join me. This book is a journey of exploration through the world of business networks that run along the veins of today’s commercial world.

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OUTPERFORM OUTSOURCE OUTPROFIT

The trend of outsourcing continues to grow unabated with the whole gamut of services, from simple to mission-critical tasks. There is not a single company on earth that does not outsource anything. It is not just about cost arbitrage, it is also a finer expression of division of labour at the organisational level. Like all leverage, outsourcing is a double-edged sword too. On one hand, it allows you to do more, faster. On the other hand, if it goes bad, it can easily kill your business. If you do not believe that is possible – you can google the Fox Meyer saga from the 90s and see for yourself.

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UNCHAIN YOUR CORPORATION

Businesses Are Chained By Unseen Chains. If You Are Looking For Ways To “Unchain Your Corporation” A Successful Business Transformation Is Required.

Successful Business Transformations Are Difficult, Yet Rewarding.

Business Transformation Is Fast Becoming A Question Of Survival In The Modern Globalised Era.

Modern Supply Chains Integrate Businesses And Economies Faster By Systematic Information Sharing From Internal And External Sources.

Companies Can Multiply Profits By Progressively Ramping Up Cohesion And Collaboration Of All Moving Parts In B2B Network To Achieve Tighter Integration.

4.3
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GREEN SUPPLY CHAIN – AN ACTION MANIFESTO

It is generally accepted that environmental consciousness is now changing to environmental proactiveness as organizations are discovering that it makes good commercial sense.

Boards are asking the management to review their policies related to environmental norms, not only to bolster their corporate social responsibility aims, but also because consumers are asking for greener supply chains

It is also widely agreed that consumers will increasingly prefer to buy more and even pay more for products or services provided in an environmentally sound manner.

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