SUCCESSFUL ENTREPRENEURS ARE NETWORKED

Networking can be defined as the act of developing and making use of the contacts acquired in the course of business for other purposes beyond the motive surrounding the initial contact. The ability to network is notably one of the most crucial skills or traits any entrepreneur can possess. An entrepreneur who is good in networking should be sociable, honest, encouraging, pleasant, a great listener or someone who stays in touch by following up. In business, networking goes beyond going out and meeting new people, rather it is a well planned plan with the aim of getting to know the individuals that will partner with you in business or introduce you to other potential partners. Various kinds of networking an entrepreneur could be involved in include casual contact networking, strong contact networking, community service, professional associations and social groups.

Reid Hoffman, the co-founder of the widely popular social networking site LinkedIn is no doubt a successful entrepreneur that understands the impact of networking. Hoffman being the man with the highest connections in Silicon Valley has been part of the team that created two of the most successful social networks, that is, LinkedIn and Facebook. Hoffman jointly founded LinkedIn which is a professional networking site and funds from this investment are what constitute the bulk of his fortune, Hoffman was also involved in the early growth of Facebook. He was quoted to have made the statement that a crucial asset for the success of any entrepreneur is professional network. Hoffman said he believes that the really key thing is to realize that relationships are like alliances and went further to say that networkers who are effective in the present times behave in a different manner compared to their contemporaries 20 to 30 years back. Hoffman is listed on Forbes list of successful billionaires.