Business networking is not about the next full English breakfast and effective networking for your business can perhaps be achieved without ever attending an event.Break down the word 'NETWORKING' and you have some of the answers already.
Networking - identify a network of contacts and business influencers that can truly impact your business (eg they will buy from you, they will refer others to you, they have a synergy to work with you, they sell to the same market)
Networking - cast a net and capture your contacts with the objective to convert them from a nice to know contact to an advocate of your business
Networking - proactively work on building the relationships and making regular contact
Networking - if you get networking right, it can be the cost effective king of your marketing strategy