Avoiding networking with customers can significantly hurt a business's profitability. Executives reveal that stopping networking activities could result in losing up to 28% of their business. Trade shows are another effective way to network, where about 5-20% of new customers are found. Additionally, networking with vendors (48%) and prospects (43%) is a major reason professionals attend these events.
Pavitra Pradip Walvekar emphasizes, "In the startup world, networking is essential for survival. For founders, each new connection can lead to valuable resources, mentorship, and opportunities. Embrace networking, and you'll see your startup grow despite the challenges of entrepreneurship." Building partnerships through networking involves creating relationships based on trust, respect, and shared interests. Authenticity, genuine interest in others, and providing value are key to making meaningful connections on the entrepreneurial journey, adds Pavitra Pradip Walvekar.