SID17769-BSBREL401-task1.docx - Assessment Task 1 1 Explain the concept of networking and discuss five(5 benefits of networking(20 words for the concept

SID17769-BSBREL401-task1.docx - Assessment Task 1 1 Explain...

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Assessment Task 1 1. Explain the concept of networking and discuss five (5) benefits of networking. (20 words for the concept & 50 words for each of the five benefits) Networking is about connecting with people, building and nurturing relationships, sharing information, tapping into the hidden job market, learning about career opportunities, pooling resources and expanding your contacts. Networking is about connecting with people, not collecting people. It is truly a life skill whereby you build, nurture, and maintain quality mutually-beneficial relationships over your career and your lifetime. 5 benefits from Networking : Common Information. Networking is great for sharing ideas and knowledge. Whether it’s asking for feedback or discussing your point of view, it will help you expand your knowledge and allow you to see things from another perspective. Prospects. It’s natural that networking will result in opportunities. The thing you will not know is when or how they will materialise. Whether it’s a referral, offer partnership or request for your service or product, it is important to be ready to seize opportunities when they come along. Networks. Remember you are not just gaining exposure to the people in the room, you are building connections with their network too. If someone they know has a need that matches your business, if you have made an impression, you will likely get a referral. Confidence Building. By regularly networking, and pushing yourself to talk to people you don’t know, it will help increase your confidence. This is an important attribute as a business owner, because your business growth is dependent on talking to people and making connections. Boosting personal profile. Being visible and getting noticed is a big benefit of networking. By regularly attending business and social events, people will begin to recognise you. This can you help to build your reputation as a knowledgeable, reliable and supportive person by offering useful information or tips to people who need it. You are also more likely to get more leads and referrals as you will be the one that pops into their head when they need what you offer. 2. Describe three (3) methods an employee could use to establish and maintain business relationships to develop business opportunities. Develop Patience. Get comfortable hearing the word “no”, over and over and over again. It will build your character and make you tenacious about your business. Be Nice to Everyone You Meet. I had a boss once who used to say “be nice to the people on the way up because you never know when you’ll be meeting them on the way down.” The world is getting smaller all the time. Don’t burn any bridges and be genuinely nice to everyone.
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