NETWORKING: A KEY SKILL IN BUSINESS DEVELOPMENT

In life no man is an island. When one reads about all the great entrepreneurs in the world, they did not achieve the success alone. They built a team round them. This means we have some lessons to learn from them. I have observed that successful entrepreneurs are good at networking. They strive to seek value from others. They also know that the more one helps others to achieve what they want they inevitably also achieve what they want. 

How come financial institutions with all their financial muscles have an umbrella association called Uganda Bankers Association? How come all manufacturers in Uganda have an umbrella body called Uganda Manufacturers Association? How come all the leading entrepreneurs in Kampala have a group called Kwagalana group. This is a lesson to every person that no one can live in isolation. Every person has something they can offer to the world. Unfortunately a number of people are shy to market their value to the public and they miss out. Coca Cola has existed for many years but it still markets its products. We live in a highly competitive market that if one forgets to share their value with the world they will quickly be forgotten. An Indian can come to Uganda with almost no capital but within one year they have built a successful company. Indians are good at networking and they support each others' businesses. This has been key in their success. We need to pick a lesson from them.

It seems our education system does not emphasize networking. From the early stages of education we are taught to compete with each other for grades. This competitive spirit permeates into society even after graduation and this many explain why the unemployment rate is high. Each graduate wants to do their own thing. Could this be attributed to a lack of trust in society? I have met a number of youths who even fear to share their business ideas because they might be "stolen". In the end these great ideas are not implemented because the youths did not seek for support.

Today organizations such as Equity Bank have innovative youth loans that have benefitted over 80,000 youths and these loans do not require capital. The question is how many youths have taken initiative to seek out these loans? I know of a group of university students who formed an investment club after graduation. Today it is a big company that is worth billions in investments. This investment club has even invested in real estate. Had these graduates decided to work in silos we would have missed out on their impact.

In a nation where over 70% of the population is below 30 years, we can ill afford to see them work in isolation. There is a lot of potential that is lost when youths work in isolation. Even government is looking for innovative youths who are working together for common good. Many organizations and industries can be formed if the youths put their differences aside and work together. 

HOW TO NETWORK BETTER

1.Join community organizations

2.Volunteer skills

3.Seek to add value 

4.be a continuous learner

5.Share your knowledge

6.Be humble

7.Have a curious mindset

8.Form a mastermind.


We all need each other. No man is an island. We need to inspire and encourage young people to set their differences aside and form groups that can help them to add value to the world.


For individual and corporate financial literacy trainings contact :

Phillip Kiryowa

Personal Finance Coach(CMA)

Master Trainer, Bank of Uganda

Founder, Advanced Empowerment Link

+256752615916

For Financial Freedom and Sustainable Enterprises



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