Stop networking!!

You know how everyone talks about the importance of networking?

Today, I want to debunk the myth around networking

If you're a seasoned career professional who wants to grow to senior leadership roles within your own company, then you should NOT focus on networking

While it's great to have a lot of contacts, there’s something even more important for you….

Stakeholder Management

You see....

When it comes to climbing up the corporate ladder, it’s not important to know more and more people

What really matters is that you know the right set of people

And that’s not all….

The right set of people should know you

That, in short, is the essence of Stakeholder Management – a key leadership skill which can help you navigate your organization with confidence and clarity

What's the difference between Networking and Stakeholder Management?

First, let’s break down what networking and stakeholder management really mean

Networking is all about meeting as many people as you can

It’s like casting a wide net in the hope of catching some opportunities

You meet anyone and everyone, without any specific objective in mind

Networking is more random in nature

Stakeholder Management, though, is more strategic

It’s about identifying the key people within your organization who have a real impact on your work and your career, and then, building strong, meaningful relationships with them

Instead of spreading yourself thin, you focus on a few important individuals who can make a big difference

That’s why, if you want to grow in your career, you need to focus on Stakeholder Management more than on networking

During the early part of career, networking can help you connect with more and more people within your organization, who might help you settle down and find your way

But as you grow more and more senior, knowing more people will NOT help you

Knowing the right set of people will help you

Let’s talk about some of the benefits of Stakeholder Management

Influence and Support

As you climb the career ladder, your decisions and projects have bigger impacts

By managing stakeholders well, you ensure that you have the right support and influence to push your initiatives forward

These key people can become your advocates, helping to clear any roadblocks.

Better Decision-Making

Stakeholders often have valuable insights that can improve your decision-making

Engaging with them means you get access to important information and perspectives, which can make your projects and other professional endeavors more successful

Stronger Reputation and Trust

Building strong relationships with stakeholders enhances your reputation

When these key people trust you and see you as competent, they’re more likely to support your efforts

This trust leads to more opportunities and can help you advance in your career

Better Visibility

Creating visibility is a constant challenge for most of us

You do a lot of good work, but are you able to showcase it in the right forums?

In today’s complex matrix structures, it would be foolhardy to assume that everyone knows what you are doing

By engaging with the right set of stakeholders, you create more visibility for yourself in the right places

Long-Term Success

Networking might bring quick wins, but stakeholder management sets you up for long-term success

The deep, trust-based relationships you build are more sustainable and beneficial over time

These relationships are based on mutual respect and shared goals, which last much longer.

Bottom line:

It’s important that you know the right set of people

More importantly, the right set of people should know you

And that’s why, if you want to grow in your career, start focusing on Stakeholder Management, which can build a solid foundation for your long-term success

Start investing time and effort to build long-term trusted relationships with your key stakeholders

And if you want to learn how to master Stakeholder Management, then I would invite you to explore the next batch of our Global Executive Presence Mastery Program

In this program, one of the core skills we focus is Stakeholder Management. We will help you identify the key set of stakeholders in your company and how to build long-term trusted relationships with them. Interested to know more? Drop us a note

Till then

Stay safe and stay healthy

Harsh