Join one or more online networking communities.
No matter which community you choose, you need to participate in whatever way you can to best grow your presence at the site. Keep in mind that it's not enough to just join and have your name on the membership list. You have to focus on building relationships with the other members of the community. This is a new concept to some; others of you will realize quickly that you can develop real relationships with people you're meeting in cyber space. So be active in the community. Post topics on threads that deal with your area of expertise. Respond to others' postings on other threads if the subject is at all relevant to your area of expertise. Posting on relevant bulletin boards is a great way to gain visibility, which can lead to credibility and eventually new business. And the more you're seen, interacted with and talked about, the more visibility you'll gain on the site. One note of caution: Don't join too many online networking communities.
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Start a blog or write a regular column for a website or e-newsletter.
Online networking works best when you get plenty of "hits." If you can start a blog (basically an online diary) on one of the larger blogger sites or online communities, you'll create more buzz for yourself. As people read your content and become familiar with you, they'll feel like they know you and that's integral to the networking process. Becoming an expert in an area and writing regularly about it can go a long way toward building your online networking opportunities.
I recommend: Blogger.com

Develop an e-mail newsletter for your own company.
Create an e-mail database of clients, customers and friends, and send them regular content that drives them to your own website. Be sure that your newsletters contain content that has a broad spectrum of interest about your business. You might want to encourage clients and customers to contribute to your content. In doing this, you'll build stronger relationships with them, which in turn will help you increase the amount of referrals you'll receive.

Never forget that online networking is still about developing trust.
With online networking, the bottom line is still the same as with live networking. In order to drive business to your company by word of mouth, you must focus on developing real, personal relationships with people. Once you've established that foundation of trust, you'll feel comfortable referring people – and so will your network. The same hold's true with online networks, although it may take a bit longer to develop that trust over the Internet. Although there are no short cuts, technology has made it more convenient to connect with people. I cannot stress enough that those connections aren't terribly valuable if there isn't trust, respect and friendship being established.

Understand that online networking has its own cultural norms.
It's much easier to get "flamed" online than in face-to-face networking. Ex. If you were to ask a total stranger to do business with you in a face-to-face setting, it's pretty difficult for the stranger, because of cultural norms, to respond in an aggressive manner. Mind you, they're still not likely to feel comfortable with your request, but they probably won't act visibly upset. None of those cultural pretenses exist online, however, and people tend to be much more blunt when responding online than in a face-to-face meeting. With online networking, people feel it's easier to be more direct. The problem is that the response can come across as aggressive or antagonistic. So be careful whom you approach – build a relationship before you ask for someone's business. Online networking gives you breadth in your networking efforts. It allows you to broaden your reach to anywhere in the world. Just don't forget that trust and relationship building are still as important as ever.