In the NRG research into business networking conducted a few years ago the findings included the ways in which building trusted relationships through networking reduces your risk in doing business. Perhaps the more obvious ones were the benefits you get from having more people looking for opportunities for you and good honest feedback about your business.
Another one was the business intelligence that your network contains. A great example of this for those operating in the UK is the results from NRG member and Skillfair founder, Gill Hunt, for their 2010 UK Consultancy Fee Rate Survey*. This was her biggest ever survey so the results are pretty definitive. Rates by specialism, sector and region.
As Gill says "You can use this information as a guide when buying or selling consultancy and freelance services - day rate isn't everything but it gives you a place to start and confidence that you're in the right area."
I am also pleased to report that NRG members get 11% more than the average!
*Full results published here.
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