Networking is a concept most people don’t give serious thought to — but in today’s economic climate, it can and should be an important part of your business plan.
When we think about networking, the tendency is to think about it in the realm of forging relationships in order to promote new positions for ourselves or new business for our company. There is nothing wrong with that outlook, but it just has to be said… there is plenty wrong with the way many business women think of and conduct their networking. (Business card anyone?) You may recall, my New Year resolution was to improve the ROI on my networking, here is how my understanding of networking has evolved so far:
There’s our operational network
These are the people and groups that help you do your day-to-day work. This group is not necessary in order to do your work, but it is important to work together with this group. In my business, I consider those in my operational network as “collaborators” in the best sense. For example, I recently brought in a graphic designer as the client required a brand new logo and colour scheme for their business and by doing this, I could offer a fully integrated service. In other words, we work together for the overall success of the client’s objectives, which in turn promotes our individual success.
There’s a developmental network
Those in your developmental network are your trusted advisors, mentors, friends and those you go to for advice and use as a professional sounding board. We become members of associations to gain access to educational resources. I know that in my world, those in my developmental network have definitely helped me grow as a manager and leader.
And, finally our strategic network
While the first two networks aren’t necessary to growing your success, people we place into our strategic network definitely are. The strategic network involves those you gather around you as you develop your future business objectives. These are the forward-thinkers who will assist you as you tackle new frontiers. These are the people who will challenge you, but they will also back you and ensure that you step confidently. These are the ones who will say why not try… Understanding these three parts of networking means I now organise my development and strategic networks primarily through web, podcasts, iTunes, skype, email and voice calls with my mentors. And of course, the coffee catch-up. I don’t need live events for these networks. Have a good look at the quality of information available through many business associations in their online resources. Yes, often you need to become a member, but many are under $500pa (these costs generally are a valid tax deduction). As for live events, I have even reduced my time there too! Yes – its not a typo, I have reduced the live events I attend for business and at the same time have grown my business. How? Being selective about the functions to attend. I really look at the timing of the event, the agenda and sounding out the event through my network. When I do attend, I have far more focus on the connections I want to make, what it is that we have in common and what to discuss with them. The four areas I now focus on in an event are:
Quality over quantity
Taking the time to get to know the person sitting across from me. I have found that the other person will learn a lot more about me too, and will now know what will be a good relationship or partner for my business.
A Giving Attitude
Attending events with the intention of offering whatever help I can
This has led to more than one venture. Also, the recipocal is that I must be prepared to share what help it is that I’m looking for in life and/or business.
Everyone has a business card — highly successful business people have two!
You can’t attend an event these days without doing the business card shuffle. But, I found that spending the time sincerely talking to people I now receive the ‘other’ card – the one that has their direct contact details.
Networking reinforces your personal brand
You undoubtedly recognise that a big part of your job is to be an ambassador for your company and your personal brand — both inside and outside the office. A savvy entrepreneur gets clear on the reputation and values she wants to cultivate and then works hard to demonstrate them every day.
I know that as a woman business leader and entrepreneur, I must network… if you are committed to being successful, then understanding networking and doing it well is essential.
