Networking Buckets

A strong network is essential for success, but as I wrote in my last newsletter, not all relationships are created equal. The best connections are made with generosity and authenticity, but it isn’t always easy to decipher someone’s true intentions from an initial meeting. It can take multiple interactions in different environments before you can identify if you can trust this person and at what level of trust.?

What I have learned about networking, I have learned through getting burned numerous times. Using those experiences, I created my own internal system I like to call “Networking Buckets.” I use this technique as a way for me to sort my personal and professional connections in order to: gain clarity, determine who to trust and who I want to help, and how to spend my time.?

Here’s how it works.?

Bucket #1: “Family and Friends”

This first bucket is your most trusted bucket; your inner circle. ? Yes, these people are your family and close friends, but think of this bucket as the people you trust the most. This is the bucket to access for mentors, co-founders, advisors, business partners, relationships partners and professional connections who you count as personal friends. These relationships take a very long time to cultivate, and this is typically the smallest group. I like to say that these are the people you would invite to your baby’s baptism, child’s bar mitzvah or wedding.

Bucket #2: Trusted Business Professionals?

This bucket is a strong bucket with trusted individuals, but you probably wouldn’t invite them to your wedding. While these may not be your closest friends or mentors, research has shown that it is actually your “moderately weak” connections - people who aren’t a close friend or immediate coworker, but people who know and respect you - that are the most effective when it comes to helping you find new opportunities and make trusted and effective connections. This group strikes a balance between exposing you to new social and business circles, information, familiarity and overlapping interests so as to expand your personal trusted network.

This bucket includes people who follow through on their promises, mention your name in a positive light in rooms that you are not even in, and think of you often when an opportunity arises. These are people like:

• Advocates and supporters: Those who recommend you for opportunities
• Your most loyal customers: these are the people who trust your work, believe in you, and where you turn to for feedback on your startup, career, or business
• Investors, LPs: Trusted and honest investors for founders and funders??
• Advisors, mentors, coaches: Whether you are a founder seeking an advisor or someone seeking career advice, the people in this bucket are perfect for trusted advisors.

?

Bucket #3: Be Wary

Bucket #3 is where our initial connections start. If you have yet to determine if someone shares your values, is trustworthy, or if they’re even interested in being a part of your network, they belong here. Alongside these brand new connections are people who you have already vetted, but who have a mixed reputation or who did something to you or others that made you question their motivations, values, or intentions. These are also connections who didn’t have any follow through, or someone you helped who let you down.?

Whatever the cause, I call this bucket the “wary” bucket (my kids call it the “sus” bucket). If you do decide to engage with or help one of these connections, it’s a risk. They can either prove that they are trustworthy and that they value the relationship, or they can show you through their actions that you cannot or should not trust them. Remember, actions speak louder than words. Many of us choose to only see what we want to see. Work on this, because this is how we protect ourselves, our startups, our career, our relationships, and our network.

Can someone switch buckets??

People can switch buckets by making meaningful changes, coming clean, apologizing, or proving through actions that they are trustworthy. People in bucket #2 can move to bucket #3 if they engage in behaviors that go against your personal or professional values. Alternatively, new contacts in bucket #3 can quickly be promoted to bucket #2 by making important introductions or by providing helpful feedback. Bucket #2 connections who become personal friends or trusted mentors can also move up to Bucket #1 over time.?

Your time is extremely valuable, so continuously evaluate your roster of connections to determine if you can trust people and where and how to invest your time. These buckets aren’t an exact science, and it’s up to you to choose which bucket and why people fall into each respective bucket. This process has helped me tremendously; because people know they can trust me and my networks, I've proven myself to be a reliable person in business.?

Upcoming: Because March is Women’s History Month, my next newsletter will be a very special one.? I will be debunking the antiquated myth on how women are “supposed” to act, and learning to embrace our authentic, powerful selves.?

I have also been featured by The Girlfriend as an expert networker! If you want to learn more about my networking skills, check out this article here.

VENTURE INVESTING: Are you a founder or investor looking to connect, partner or collaborate? Let’s talk!?

SPEAKING ENGAGEMENTS: If you are interested in having me speak at your organization, university, conference, or event, email me at [email protected].?

CONNECT WITH ME: Make sure you never miss a newsletter issue by clicking the "Subscribe" button in the upper right corner of this page. For more tips and insight, connect with me here!? You can also follow me on social media: Facebook Twitter Instagram TikTok