Why you need a network

You can have the most innovative product, the best marketing plan and the most customer-oriented company on the block, but in business sometimes it’s who you know that really counts. This almost unquantifiable asset isn’t something you note down on a balance sheet or attest to when seeking finance, but a good network is one of your most valuable secret weapons. A coach or mentor can help you build one and here’s why you need it.

Advice

Whether you’re starting up, stepping up or streamlining your business, it’s imperative to have a team in your corner which you can go to for advice. These might be people who are pro’s at navigating government red tape, have successfully negotiated the media minefield or simply did something similar to you in the past, but they are willing to offer advice and help you get where you want to go. These are the types of sounding boards you can ring and ask: “Hey Jack, I’m thinking of modernising my printing equipment, what do you think of the latest computer to press system?”

Shortcuts to suppliers and services

Need a good accountant? Seeking a savvy staff member or simply looking for a better supplier? Your network is the shortest route to people who have a proven track record. They come with a quality assurance of sorts that indicates they know what they are doing, will do it well and possibly at a better price. This can save you weeks and even months of trial and error as you look around for the right person to suit your business needs, not to mention money in the long run.

Referrals

Arguably most important factor a network can give you is greater access and exposure to potential customers, whether that’s people within the network utilising your services or referring your expertise to others. As customers are the bottom line of any business, having greater access to them is always a positive thing.

How a coach can help

When it comes to what a coach or mentor may bring to the table, their network is a hugely valuable resource. An experienced coach or mentor will have built up a vast list of contacts and experts during their time in business, providing you with a ready-made network of people and customers at your fingertips.