How Does Business Networking Mesh with a Trading Business? (Part 2)

As mentioned in my last post, I’m new to marketing probably somewhat because I find it hard to understand where it can fit in with my business.

In my previous career, one thing I always lamented especially when talking to colleagues was the lack of business education taught in pharmacy school. I worked retail pharmacy and one promotion above “staff pharmacist” was “pharmacy manager.” I knew other pharmacists who had opened their own pharmacies or were looking to do so. Whether managing a pharmacy or owning one, some sort of business savvy would have been useful.

Networking is certainly part of this savvy and without any business education I also had little insight into networking. My intuitive understanding of “business networking” was handing out business cards to a prospective customer in hopes of generating sales.

Fast forwarding to my current career, the lack of business training has left me befuddled about a potential role for networking in the life of a full-time trader. I’m not looking for customers. I buy and sell product on stock and option exchanges. I have no employees. I do run a business and I am an entrepreneur but I just don’t seem to fit the mold. What could I possibly gain from networking?

In an attempt to update my understanding, this website defines “business networking” as:

> …a skill and a low cost method of marketing that is used
> to build new business contacts through connecting with other
> like minded individuals.

The mention of marketing is of no help to me. Again, whether it be trader education, an investing newsletter, or tools for traders/investors, I am not selling anything.

The rest is more interesting, though: “like minded individuals.” With other traders I could develop or improve my business. With other traders I could share ideas and trading experiences. With other traders I could develop new strategies. With other traders, I could establish a foundation for accountability that I don’t have when working by myself.

Now we’re getting somewhere.