Above: Minister of Industry, Small Business development and Rural Development, Denis Kellman (right) and BSBA President, Mrs. Celeste Foster.
There is a need for small businesses to engage in business networking to drive more opportunities for entrepreneurs. Denis Kellman, Minister of Industry, Small Business and Rural Development, made this point in an address at the annual Awards Ceremony of the Small Business Association, last weekend.
“One of the returns on your investment or the benefit of networking is opportunity,” the Minister told those gathered at the Lloyd Erskine Sandiford Conference Centre. “Opportunities for joint venture, partnerships, client leads, business or assets bought or sold and even employment are discovered through business networking,” the Minister explained.
Noting that business networking is the process of establishing a mutually beneficial relationship with other business people and potential clients and/or customers, the Minister said: “The key to true business networking is the establishment of a mutually beneficial relationship, which is more than the often touted occasion where you shake hands and exchange a business cards.”
Mr. Kellman told the function that it is also more than the occasion where one simply moves from person to person exchanging business cards, without taking the time to build a relationship with the person or people.
According to the Minister, “the highly effective networker will take the time to cultivate a rapport since it may take some time for people to feel comfortable with offering you a referral. The most important skill for effective business networking is listening, and that is your best advantage.”
He continued: “Engaging this skill allows you to better understand the needs of the other person or persons, which provide insight into where opportunities for business may be found. Focusing on how you can help the person you are listening to rather than on how he or she can help you is the first step to establishing a mutually beneficial relationship.”
Kellman remarked that other benefits of business networking are the advice and assistance which can be accessed. “Business networks can provide you with free advice that under normal circumstances would leave you with a big hole in your bank account from having to pay consultants for the information,” he added.
Adapted from The Barbados Advocate
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