There is an invisible line that good businesspeople cross when they transition from survival to success. And getting over that line is the most common reason most people work in the first place.
When anyone starts out, the line may seem pretty far off. And there’s no magic million-dollar formula for getting there. But there is one thing that can speed up the journey drastically: Networking.
It’s not just a business buzzword. The world is built on interaction. Any business exchange requires a connection between two or more parties because no one can work in a vacuum. And as author and entrepreneur Keith Ferrazzi once said, “The currency of real networking is not greed but generosity”.
Networking is a two-way street. In trading and indeed any other business, referrals are not a mutually exclusive moneymaking opportunity; they are symbiotic – in other words, they work for both parties.
This is where that generosity becomes extremely important. If you go into any interaction with an agenda that is purely one-sided, you are unlikely to establish a rapport or mutual trust. So, you won’t have created any kind of relationship. All you will have done is complete a transaction.
As a leading international broker, CM Trading is built entirely on relationships. Clients who open trading accounts with us gain access to an intuitive trading platform and they learn how to trade from people who have been doing it for years.
Secondly, if a client refers a friend or family member to us, they get commission while their connection gets a new way of generating income for themselves. That is a purely symbiotic relationship in action.
What’s in it for me?
Perhaps what we should be asking whenever we enter into an exchange with another person – business or otherwise – is, “What do I have to offer or contribute to this interaction?” If the answer is “nothing”, it’s time to re-evaluate.
Whether your business is plumbing, selling, cooking, banking or anything else, the same principle should apply. You can only build successful relationships based on an exchange that is positive from both sides.
As a plumber, providing professional service is likely to get you more referrals. As a chef, taking pride in your output will bring more people to your restaurant – and so on.
The art of trust as leverage
You may say, “Networking is all good and well. But what if I’m not a ‘people person’?” Perhaps you feel that you are “charismatically challenged” or find it hard to interact with people on one or more levels.
Well, you don’t necessarily have to step too far out of your comfort zone. Everybody needs to start somewhere. And a space of trust is about as good a place as you’re going to get.
Any creative writing teacher will tell you; writers are always encouraged to write about what they know.
It makes their writing more plausible and relatable. Similarly, if you stick to what (or who) you know from a business networking point of view, your “story” is more plausible and believable, too; because trust has already been established by both parties and you are in familiar territory.
So, growing a business starts with tapping into the resources you have at hand. Friends, colleagues and family already share common ground with you. And they are more likely to take any opportunity you offer them at face value without doubting your authenticity.
The connection and bond of trust that exists already also increases the chance of your business growing exponentially, as the people you know refer you to others you don’t know. Business growth through networking may be a slow burn at first. But it’s worth waiting it out, because the more trusted relationships you build, the more will follow.
The learning curve never ends
“We must learn to live together as brothers or perish together as fools.” – Martin Luther King, Jr.
The art of networking is not just about financial gain and business growth. In fact, that’s not even the most important part of it. Our greatest teachers are the normal people we encounter on a day-to-day basis.
Any exchange of ideas between two or more people at a time creates evolutionary thinking. As individuals caught up in our own spaces, we lack the capacity to truly see things from the perspective of others, even if we are able to empathise with them. And sometimes, it takes someone else’s fresh vision to point out the things we are unable to see.
Being open to other points of view keeps your mind agile and makes you more adaptable. Besides, others would probably like to hear your thoughts as well.
Everyone is welcome
Trading in forex and shares is on an upward curve in Africa. And the key catalyst to bringing new traders into the market is referrals. It’s all about who you know. And that truly applies in the literal sense when it comes to learning how to trade successfully.
Networking is the basis for everything we do in our business lives. And in order to increase our ability to make more income, we have to tap into the people we know. By doing that, we can help them make more income, too.
The sharing of ideas and welcoming of others into our world is the beginning of our journey to crossing that invisible success line. And, who knows? With the right people in your corner, you may just cross it sooner than you think.
To get started on your own personal networking and trading journey, head over to CM Trading’s official website and open your live trading account today!
OPINION PIECE FROM CM TRADING CONTRIBUTOR: DANIEL KIBEL, FOUNDER AND DIRECTOR CM TRADING – 13 FEBRUARY 2020
: MyPR Guest PR
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