“You have to build a network!”
What does that even mean? Everyone talks about the importance of building an online network, but why is it worth the effort? And even if you wanted to build some magical network – how do you build one that makes you money?
I’m glad you asked. Because it’s not only possible, it’s one of the BEST parts of being an online entrepreneur. You might decide to start networking for the financial benefits, but I promise you – the intangible rewards are just as valuable.
First of all – let’s start with the “why”. Because it always comes back to that, right?
Here are just some of the things the right kind of network can provide:
- Solid referrals (that’s the money part)
- Vendor recommendations (saving you loads of time and…money)
- Accountability and mentorship (saving you money on…therapy)
- Increase in brand awareness (ahem, *free* advertising)
- Information Sharing (saving you time and money)
I won’t lie. This type of network isn’t going to just appear overnight. Even if you join an amazing online community (hey, I have one of those!), you’re going to have to do some work to build a network that starts paying dividends.
The Foundation of a Solid Network
The foundation of a solid network is relationships. Sure, this blog is all about how to make money by building a network, so it might seem insincere to start talking about authenticity, but bear with me.
If relationships are the foundation, then we need to go back to the basics. How do we establish a healthy relationship? Friendship, mutual trust, respect, and a balance of give and take. It’s not about taking what you can from your online connections, it’s about giving, sharing, and then watching the same come back to you ten-fold.
With that in mind, let’s dive into how to start building these relationships.
Strategic Connections
If you’re ready to start building business relationships, it’s time to go on a date.
Yup, dust off your pick-up lines, because online coffee chats are all the rage now.
I’m only half-kidding. Some of my best online relationships began with one of us reaching out and asking if we could meet up for a Zoom coffee chat. No sales pitches, no agenda. Just two entrepreneurs getting to know each other, finding out what type of clients we both serve, comparing notes, and forging a new connection.
Now, it’s not going to benefit you to randomly start hooking up with any Joe Entreprenuer on Instagram. Take a strategic look at your target market, the skills you offer, and find other entreprenuers that serve the same market in a different capacity.
For example, maybe you’re a social media manager who serves online health and wellness professionals. You might try to make a connection with a graphic designer who serves health and wellness professionals. You may even share clients – but you are not in direct competition.
Join Online Communities
Online communities aren’t the only thing, but they are worthwhile if you want to increase your visibility in your target market. But similar to my point above, it’s not going to benefit you to join a super generic online community with 500k members. Extremely active, small, niched down, private groups are the holy grail.
If you’ve ever considered investing in a business coach or program, consider joining one with a private community. Every entrepreneur in that group paid to be there, and you’ll see a dramatic difference in the way they show up because of that simple fact.
Be Intentional
It might feel a little weird, but I highly recommend keeping a spreadsheet of your network connections. It doesn’t make you a stalker, I promise. Make a commitment to reaching out to a certain number of new network connections each week, and a certain number of online “dates” each month.
Thinking that all this sounds like a great idea will accomplish ZERO things. Put it on your calendar. Write it down. Make a plan and then execute it.
Give More Than You Take
Approach your new business friendships with an abundance mindset. What can you give? It doesn’t always need to be a referral! Share your information, and be generous with your time and your resources.
This might look like jumping on a thread in an online community to give advice about something you can speak to. It might be tagging a business buddy on Instagram and shouting out their new service. It might be jumping on Loom and recording a quick tutorial for someone, just to save them some extra time.
These actions will not only help keep you centered and balanced as a human being but will also allow you to establish that critical trust and respect from your peers.
Let’s bring it full circle – right back to the very first benefit I mentioned: Authentic relationships with online peers will result in quality referrals. And that’s how your online network can make you money.
