Much of today’s business is global, but the basics in relationship building and networking do not differ regionally or globally. Indeed, in the financial world they are the most utilized strategies for business growth.

Consequently, when local and area business owners ask how they can grow their businesses rapidly, we advise them to not discount the value of relationship building and networking. We point out that at Central Connecticut State University’s Institute of Technology and Business Development (ITBD), we concentrate on building strong relationships with businesses, chambers of commerce, professional organizations, state agencies, legislators and community leaders. We understand that, in order for relationship building to work, there has to be value in the relationship for each participant. We urge businesses to focus on the values they can bring to relationships.

For example, our recent success with the ITBD Executive Breakfast CEO Speaker Series resulted from relationships and networking at the New Britain Chamber of Commerce, Middlesex Chamber of Commerce and Metro Hartford Alliance monthly business meetings. ITBD successes this year in over 20 open enrollment programs were in part due to the Greater Bristol Chamber of Commerce and other Chambers that helped us fill programs to capacity.

Statewide, ITBD training activities rely on our relationships with the Capital Workforce Board in Hartford, The Workplace Inc. in Bridgeport, Workforce Alliance in New Haven, the Northwest Workforce Board, the State’s Department of Economic and Community Development, State Department of Labor, State Office of Workforce Competitiveness, the US/\C Connecticut Small Business Administration, Manufacturing Alliance of Connecticut, Connecticut Center for Advanced Technology, and Connecticut Light & Power.

Locally, ITBD’s Community Business Development Center relies on relationships we have built with the Mayor’s Office, the Consolidated New Britain School District, the local community, the National Business Incubation Association and the CT Business Incubator Network.

Our Conference Center relies on state agencies, community organizations, statewide and national organizations to rent conference rooms at ITBD. We rely on local vendors to provide food service during client activities as well. This center has brought in over 54,000 people to the ITBD facility in the last year alone.

ITBD as an organization relies on the relationships we have built with members of our State’s delegation in Hartford and Washington D.C. in bringing resources to our clients statewide.

These two techniques when deployed effectively are low cost to implement and have high returns on investment. The value in relationship building and networking in each of ITBD’s core businesses (conferencing, incubation, training and consulting) is very high and has been key to helping ITBD grow and build it’s reputation as a trusted advisor.

To learn more about how ITBD can help your business grow by building relationships and participating in networking opportunities, please call: (860) 827-7966

(Richard C. Mullins, Jr. is managing director of CCSU’s Institute of Technology and Business Development.)

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