What is networking and doing business by referrals?

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Networking and doing business by referral are related concepts, but they are not the same thing.

Networking refers to the process of building and maintaining relationships with people in your industry or profession. It involves meeting new people, exchanging information, and cultivating mutually beneficial connections that can help you achieve your goals. Networking can take many forms, such as attending industry events, participating in online forums, or joining professional associations.

On the other hand, doing business by referral refers to the process of getting new clients or customers through recommendations from people you know or have worked with in the past. This can happen organically, where satisfied clients refer their friends or colleagues to your business, or it can be a more formal process, where you actively seek out referrals from your network.

While networking can certainly lead to referrals, it is not the same thing as doing business by referral. Networking is a broader activity that involves building relationships and establishing yourself within your industry or profession, while doing business by referral is a more specific tactic for generating new business.

In short, networking is a tool that can be used to develop a referral network, but the two concepts are distinct and require different strategies and approaches.

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