Networking is important for growing businesses and finding new opportunities. It allows you to meet new people, learn from others, gain exposure for your business, and develop important contacts and relationships. Some key tips for effective networking include preparing an elevator pitch that clearly communicates who you are and what you do in 30 seconds or less. It is also important to work the room, introduce yourself to groups of three people, listen more than you talk, and follow up with new contacts within 24 hours. Networking events provide a way to build relationships and discover connections between people that can lead to new business opportunities and future growth.