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You're a business development professional who wants to grow your network. What's the best way to do it?

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As a business development professional, you know that networking is essential for finding new opportunities, building relationships, and staying relevant in your industry. But how do you grow your network effectively, especially when you're in the later stages of your career or approaching retirement? Here are some tips to help you expand your connections and leverage your expertise.

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Vernon Tay, RPh

Business Development | Business Strategist | Pharmacist | Healthcare | Regulatory, Digital Marketing, & Operations |…

1 Find your niche

One of the best ways to grow your network is to focus on a specific niche or area of interest that showcases your skills and value. This could be a sector, a region, a problem, or a trend that you have experience or knowledge in. By narrowing down your scope, you can position yourself as an authority, attract relevant contacts, and offer meaningful insights. You can also join or create niche communities, events, or groups that cater to your target audience.

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2 Be proactive

Another key to growing your network is to be proactive and reach out to people who can benefit from your services, advice, or referrals. Don't wait for them to come to you or rely on passive methods like online profiles or business cards. Instead, use various channels like email, social media, phone, or video to initiate conversations, follow up, and stay in touch. You can also use tools like LinkedIn, Twitter, or Clubhouse to find and engage with potential leads, partners, or mentors.

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Oliver Bergmann

CIO, CCO, Supervisory Principal
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Growing your network as a business development professional involves being genuinely interested in others. Attend industry events and engage in online platforms relevant to your field. Instead of just collecting contacts, focus on creating meaningful connections by offering help and sharing knowledge without expecting immediate returns. Follow up with new contacts through personalized messages. This strategy of giving first and building relationships on trust and mutual benefit will make your network strong and valuable. People remember generosity and are likely to support you in return, opening new opportunities for growth.

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3 Add value

One of the most important principles of networking is to add value to your contacts and not just ask for favors or pitch your products. You can add value by sharing useful information, resources, or opportunities; providing feedback, testimonials, or recommendations; introducing them to other relevant people; or offering your help, support, or guidance. By adding value, you can build trust, credibility, and goodwill, and increase the chances of getting referrals, leads, or opportunities in return.

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Vernon Tay, RPh

Business Development | Business Strategist | Pharmacist | Healthcare | Regulatory, Digital Marketing, & Operations | Prospective MBA Student with UIUC
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Adding tangible value is paramount in building a strong and lasting network within the healthcare sector. My experience as a pharmacist taught me this goes far beyond just dispensing medication. It was as much about personalized guidance and patient education as it was about having the most up-to-date knowledge. In business development, the same holds true. Don't just aim for contacts, aim to become a trusted source of information and insights. Share your knowledge on emerging digital health trends, relevant regulatory changes, or even practical tips for fellow professionals based on your own journey. It's this type of value-add that positions you as a go-to collaborator, not just a name on a list.

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4 Be consistent

Growing your network is not a one-time activity, but a continuous process that requires consistency and commitment. You need to maintain and nurture your relationships with your contacts by keeping in touch, following up, and providing value on a regular basis. You also need to update and refresh your network by adding new contacts, removing inactive ones, and reconnecting with old ones. You can use tools like CRM systems, calendars, or reminders to help you stay organized and on track.

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Vernon Tay, RPh

Business Development | Business Strategist | Pharmacist | Healthcare | Regulatory, Digital Marketing, & Operations | Prospective MBA Student with UIUC
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Consistency is key, yet it's perhaps the most overlooked part of network building. Like nurturing a patient-provider relationship, it takes continuous effort to maintain professional connections. Share relevant content, comment on others' posts, and engage thoughtfully in online discussions within your niche. Recognize though, that building a network isn't about immediate, quantifiable results – it's about gradual, consistent investment. Just as consistent adherence to a treatment plan yields better long-term health outcomes, steady efforts in networking nurture a well-connected sphere of influence that will prove increasingly beneficial over time.

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5 Be flexible

Finally, growing your network requires flexibility and adaptability, especially in times of change and uncertainty. You need to be open to new opportunities, challenges, and trends that may arise in your industry or market. You need to be willing to learn new skills, tools, or platforms that can help you communicate and collaborate better with your contacts. You also need to be respectful and supportive of the diverse needs, preferences, and goals of your contacts, and adjust your approach accordingly.

Growing your network as a business development professional can help you achieve your career goals, even when you're in the later stages of your career or approaching retirement. By following these tips, you can expand your connections, showcase your expertise, and create lasting value for yourself and others.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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You're a business development professional who wants to grow your network. What's the best way to do it?

1

2

3

4

5

6

1 Find your niche

2 Be proactive

3 Add value

4 Be consistent

5 Be flexible

6 Here’s what else to consider

Business Development

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You're a business development professional who wants to grow your network. What's the best way to do it?

1

2

3

4

5

6

1 Find your niche

2 Be proactive

3 Add value

4 Be consistent

5 Be flexible

6 Here’s what else to consider

Business Development

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