Business networking

Business networking is a marketing method by which business opportunities are created through social networks of like-minded business people. There are several prominent business networking organizations that create models of networking activity that, when followed, allow the business person to build new business relationship and generate business opportunities at the same time. Business Networking International (BNI) for example, is one such organization.

Many business people contend business networking is a more cost-effective method of generating new business than advertising or public relations efforts. This is because business networking is a low-cost activity that involves more personal commitment than company money.

As an example, a business network may agree to meet weekly or monthly with the purpose of exchanging business leads and referrals with fellow members. To complement this activity, members often meet outside this circle, on their own time, and build their own "one-to-one" relationship with the fellow member. As these relationships strengthen, the exchange of business increases.

Business networking can be conducted in a local business community, or on a more larger scale via the internet. Casey Turton