Success Principle #16: Networking

“Networking is more about farming than it is about hunting.” – Ivan Misner.

Reflecting on my extensive 34+ years of Corporate and 5+ years of entrepreneurship experiences, I think, I have successfully cultivated a strong network of professionals and like-minded individuals. Presently, whenever I require assistance, I can swiftly connect with them. Commencing my career as an introvert, my journey over the past four decades has resulted in the establishment of a vast global network. As a leader, I firmly believe that networking skills are indispensable for success. In this chapter, I will delve into three distinct approaches to building relationships and outline the five key advantages of networking.

While there are different ways to categorize types of relationship building, the three important types-operational, personal, and strategic are commonly used in various contexts. Here is a brief description of each type:

1.?? Operational relationship building: This type of relationship building focuses on establishing and maintaining working relationships with individuals or organizations that are critical to achieving specific operational goals or objectives. These relationships are typically task-oriented and transactional in nature, with a focus on delivering results in a timely and efficient manner.

2.?? Personal relationship building: This type of relationship building focuses on establishing and maintaining strong connections with individuals on a personal level. The goal is to create long-lasting and meaningful relationships that are built on mutual trust, respect, and understanding. Personal relationships can be beneficial in a variety of contexts, including social, professional, and personal growth.

3.?? Strategic relationship building: This type of relationship building focuses on developing and maintaining relationships with key stakeholders, including customers, suppliers, partners, and investors. The goal is to create strategic alliances that can help organizations achieve their long-term goals and objectives. Strategic relationships are often characterized by a high level of mutual trust and a shared vision for success.

?The Key 5 benefits of networking are as follows:

1.???? Sharing Ideas and Knowledge:

Your network can be an excellent source of new perspectives and ideas to help you. Exchanging information on challenges, experiences and goals is a key benefit of networking because it allows you to gain new insights that you may not have otherwise thought of.

Networking enables individuals to connect with others who work in similar fields or share similar interests. Through these connections, people can share ideas and knowledge, which can lead to valuable insights and innovative solutions to problems. By exchanging information and collaborating with others, individuals can expand their knowledge and improve their skills, ultimately enhancing their professional and personal growth.

2.???? New Opportunities:

Networking can also open new opportunities for individuals. By connecting with others in their field, people can learn about job openings, collaborations, or other opportunities that they might not have otherwise discovered. Networking can also lead to introductions to influential people or organizations, potentially opening new doors and career paths. Networking is a great opportunity to learn about the business techniques of your peers and stay abreast of the latest industry developments. Networking is about sharing, not taking. It is about forming trust and helping one another toward goals. By doing this, you sow the seeds for reciprocal assistance when you need help to achieve your goals.

3.???? Create New Connections:

Networking allows individuals to connect with people they may not have met otherwise. This can include people from different industries or backgrounds, expanding one's perspective and providing access to new ideas and experiences. Creating new connections can also lead to new friendships, providing a supportive network of individuals who can offer advice, guidance, and encouragement.

?4.???? Increase Confidence:

Networking can also increase an individual's confidence. By connecting with others, people can build relationships and gain recognition for their accomplishments. This recognition can increase self-confidence, ultimately helping individuals to pursue new opportunities and achieve their goals. By continually putting yourself out there and meeting new people, you’re effectively stepping outside your comfort zone and building invaluable social skills and self-confidence that you can take with you anywhere. It helps to grow and learn how to make lasting connections.

5.???? Increase Visibility:

Finally, networking can increase an individual's visibility within their industry or community. By attending events, participating in online communities, and engaging with others in their field, people can establish themselves as thought leaders and experts. This increased visibility can lead to new opportunities and partnerships, further expanding an individual's network and potential for success. Being visible and getting noticed is a benefit of networking that’s essential in?career building. Regularly attending professional and?social events?will help to get your face known. I recall my supervisor once said, “More than your presence your absence is noted.”, so make yourself present in those networking events so that no one notices your absence.

“Your network is net worth.” – Porter Gale.