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Networking is one of the most critical activities a business owner can engage in, regardless of the industry or size of the business. While having a solid product or service is essential, the relationships a business owner cultivates often determine the longevity and growth of their venture.

Networking is not just about exchanging business cards or attending events—it's about building authentic, mutually beneficial relationships that can lead to opportunities, partnerships, support, and knowledge sharing, something Steve Mantione of BGM Financial says is vital.

“It’s about connecting and making connections, whether it's social, or professional connections,” he says, referring to the importance networking has in his line of work. “You can't establish a trust relationship without actually connecting with somebody.”

One of the most immediate benefits of networking is access to new opportunities, something that will be explored at the Chamber’s new Speed Connections event Nov. 26 at Galt Country Club.

Networking opportunities could be in the form of clients, investors, suppliers, or even strategic partners. A well-networked business owner is more likely to hear about industry trends, market gaps, and potential collaborations before they become public knowledge. These insights can give a business a competitive edge.

Personal connections

Additionally, many deals and partnerships are formed not through cold calls or online forums, but through personal referrals and informal introductions, noting that people are comfortable conducting business with those they know and trust, a philosophy shared by both Steve and Cambridge Chamber of Commerce President and CEO Greg Durocher.

“Nothing will replace face-to-face personal contact. That's the way to really get to know someone,” says Greg. “You get to understand their interests better.”

Steve agrees, noting while Zoom and other virtual platforms became a necessity during the pandemic, their popularity as a networking tool changed in the aftermath.

“There will obviously continue to be a place for virtual platforms since it allows you to connect with people remotely all over the world, essentially,” he says, noting the nuances of a face-to-face meeting differ from a virtual one.  “I think that people are realizing that virtual meetings are not the be all and end all. We are, after all, humans, and we respond better to personal connections.”

Keep networking going

To create those connections, consistent and thoughtful networking is required to help a business owner build their personal and professional brand. The more someone shows up in industry circles, contributes to conversations, and provides value, the more likely they are to be seen as a credible and trustworthy figure in their field, something Greg says is imperative.

“The most important is it to keep it going,” he says. “And if you go to an event, whether it's a networking event or a function of some sort, and people recognize you because they saw you at last week's or last month's event, that's really, really important because all of a sudden now you visually become recognizable.”

Define your goals

Greg says being engaged by attending such events regularly is key to successful networking.

“Seeing you piques the interest of people who will start thinking, ‘I'm going to go over and say hi to that person because I saw them last week or last month’.”

In terms of in-person networking events, Steve also recommends defining what your goals are prior to attending. 

“You’re investing your personal time to go to an event so make it worth your while,” he says. “You’ve got to know what you're there for, because once you know what you're there for, then you can sort of guide your interactions based on what it is that you want to achieve.”

Networking puts entrepreneurs in touch with others who have faced similar challenges or are currently navigating the same terrain. Through peer-to-peer learning, or simply engaging in thoughtful conversations, business owners can gain insights that help them avoid costly mistakes or discover more efficient ways of working. 

Ensure you offer value

“Networking is as much an art as it is a skill. It really is, and the most effective people at networking, they're not just good at collecting contacts. They're like masters at creating meaningful and memorable connections,” says Steve, adding listening to others helps strengthen those connections.

“There is an the old saying, ‘We have two ears and one mouth’. We should listen twice as much as we speak. The people who are good at networking, they're the ones that attend an event to be bold and to be curious, but not in a way that makes them obnoxious. They offer value before asking for anything.”

 At the Chamber’s Speed Connections event Nov. 26 participants will be given the opportunity to meet potential clients and collaborators and sharpen their ‘elevator pitches’ while exchanging new ideas and solutions. Click here to learn more

New and emerging network trends 

Hybrid & micro events

Big gatherings are still around, but there’s been a strong move toward smaller, more curated events (often regional micro events) as well as hybrid events that combine in person with virtual components.

VR/AR / immersive networking spaces

Virtual Reality (VR) and Augmented Reality (AR) are stepping up as ways to make online networking more engaging. Rather than simply video calls, businesses are exploring spaces that mimic real world conference halls or social lounges.

More use of technology 

As networking gets more virtual and hybrid, there’s more reliance on tools to ensure connections don’t fall through the cracks. This includes platforms for virtual networking, apps that help manage follow ups, match making, scheduling, and automated reminders.

Focus on quality & intentionality

There’s been a shift from “attend as many networking events as possible” toward being selective: choosing events, networks, or groups that align with your business goals (clients, partners, mentors) and where you’re more likely to build meaningful connections.

Wellness / experience-based networking

There’s increasing interest in combining networking with wellness or lifestyle experiences (e.g., walking meetings, run clubs, “nature walk and talk,” etc.), creative social gatherings, or interest based micro communities. These settings allow more relaxed, authentic connections. One example is “rucking meetings,” combining walking with networking.

Data, analytics, & AI 

Business owners are using data more to guide who they network with, how often, and through which channels. Predictive analytics or AI‑powered matching can help identify high‑value connections, suggest people to reach out to, or help optimize event attendance.

Diversity, inclusion & community led networks

A trend toward forming or participating in networks that are more inclusive: by industry, background, identity, geography. Community driven groups (smaller, focused, interest-based groups) are becoming more prominent.