The One Year Millionaire

Welcome back to the ‘ONE YEAR MILLIONAIRE‘, in this issue we are going to look at “business networking” and how it can help you build your online empire! Business networking is a method of marketing to create business opportunities through social networking of like-minded individuals.

If you are doing business online and you haven’t started networking then you should quickly start because there are many great advantages to doing so. Business networking gives you or your company a larger range of potential clients, potential supporters and potential partners. With that being said, there is just so much potential with well-rounded business networking!

There are three basic types of business networking and they include: online business networking, general business networking and exclusive business networking. I will explain very briefly each type but will go into detail with online business networking because we are focused on making money online!

• The first type is General Business Networking.
  This is also sometimes called face-to-face networking because you generally will do this in person. This is said to be one of the best because you have the potential to build greater business relationships because you get to spend time with them in person and socialize. In General Business Networking it is not uncommon to make real friends. I attended a business networking event where I met a like-minded person who I now see very often. We both have our own separate businesses and we are likely to work with each other on future projects. That is the reason that many people prefer the idea of actually getting to know someone that you will do business with because you can build trust and build a solid partnership!
• The second type is Exclusive Business Networking.
  This is a prestigious network. This can occur in networking communities where they will only have one representative from each different industry. This gives each individual a monopoly throughout the community for their specialized service. For example: only one person can attend the networking events that sells telecommunication services; therefore, he will be the only one that can promote within that industry and likely work out agreements with other companies. With this kind of network, each member values their position but various networks each have their rules of membership, etc.
• The third and final type is Online Business Networking.
  A growing number of businesses are using social networking websites to build greater business relationships these days. The internet just makes it that much more convenient to find a suitable partner or client no matter what it is that you have to offer. Business Networking is done online so you can do business with companies in other continents. This is also helping globalization become accessible to businesses everywhere.

In the next issue of the ‘ONE YEAR MILLIONAIRE‘ I am going to expand on the subject a little by giving you a great list of social networking sites that you can use to promote your business on the internet.