MAM
The power of networking in business and forging meaningful connections
Mumbai: Networking is a crucial skill for success in business. It allows you to build relationships, get introduced to new opportunities, and gain insights and advice from others. However, networking effectively goes beyond just showing up to events and collecting business cards. It’s about creating and nurturing mutually beneficial connections. Here are some tips on utilising the power of networking and forging meaningful relationships in business:
Focus on giving first, not just taking
The most effective networkers approach relationships with a generous mindset. Look for ways you can offer value to others through your expertise, connections, or support. Help make introductions between people in your network who would benefit from knowing each other. Share interesting articles, tips, or other useful information with your contacts. Don’t just look at what someone can do for you.
Build rapport and trust
Take time to establish rapport with key contacts. Get to know them personally beyond just professional titles. Build trust by being reliable, honest, and showing interest in who they are as individuals. Follow through on commitments you make and recommend others only if you truly believe there is a good fit. The stronger the rapport, the more willing contacts will be to help you out.
Stay visible and connect regularly
Don’t just reach out to your network when you need something. Maintain regular contact to nurture relationships over time. Periodically send updates on your latest projects, make phone calls to catch up, and connect face-to-face when possible. Look for opportunities to provide value to others along the way. The more engaged you are, the more likely your contacts will think of you when an opportunity arises.
Listen and ask thoughtful questions
When connecting with new contacts, practice active listening skills. Learn about their experience, interests, challenges, and goals. Then engage them with thoughtful, open-ended questions to uncover areas where you may be able to collaborate, make helpful introductions, or support them in other ways. Take a genuine interest.
Expand your circles
Look for opportunities to meet new people and add fresh connections to your pipeline. Attend industry events, conferences, and seminars that put you in front of different audiences. Engage fellow attendees before and after events. Follow up afterward to continue the conversation. Over time, you will organically build an expanded, diverse network.
Create win-win opportunities
The most meaningful connections are grounded in finding mutual benefits. When you successfully bring together the right people or resources, you add value for everyone involved. Brainstorm creative ways to generate these win-win scenarios that allow you and your contacts to help each other move forward. This could include job opportunities, speaking engagements, new client introductions, press exposure, funding connections, or beneficial partnerships.
In business, who you know is very important. But it’s the strength and reciprocity within those relationships that generate the greatest returns. Be strategic and thoughtful about cultivating your network. The more you can forged meaningful connections based on trust and generosity, the further it will take you.
The author of this article entrepreneur and RiSAA IVF and CEO Dr Saarthak Bakshi.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
