What Is Networking?

I encountered an article earlier that talks about “What Is Networking?” and here are some of it:

The ability to network is key to developing as a professional, locating new contacts and finding new business opportunities. Professionals in most industries can benefit from this skill and may develop lifelong personal relationships as a result of effective social practices. Understanding how to network effectively can help you expand your professional contacts and experience the many benefits associated with having a large group of contacts. In this article, we explain what it means to network, discuss its importance and benefits and outline the best ways to build a successful network.

What is networking?

Networking refers to socialising with the aim to increase business contacts, sharing ideas, seeking advice and finding potential career opportunities. Typically, professionals network by conversing with others, in person or online, to share information about their career or provide a service. The aim of these conversations is to form a relationship that results in positive development opportunities. Socialising in this way can be a mixture of developing personal friendships and business contacts.

The importance of networking

Professional development opportunities are key to helping you meet your main career objectives. Successfully expanding your network allows you to actively seek out more of these opportunities to gain new skills and industry knowledge. Having a good network also keeps you aware of the roles available in your industry. Maintaining awareness of the job market in your industry is important, as it allows you to seek more lucrative opportunities in other organisations. This is particularly beneficial if you've recently become unemployed and are looking to start a new role quickly.

Benefits of networking

Depending on your industry, building a professional network can have several benefits, including offering individuals new positions, finding new business opportunities or locating potential investors. Here's a guide to the four benefits of creating a professional network:

Boosts confidence

Confidence is a beneficial trait for candidates looking for leadership opportunities, as it allows leaders to interact with employees, delegate tasks, respond to questions and present themselves positively to other businesses. Attending network events, starting conversations with new people and discussing your industry can help you develop more of this confidence and allow you to develop personally and professionally. These activities can also help you overcome social anxiety or shyness around meeting new people, enabling you to form positive working relationships and approach work and collaboration with a more positive mindset.

Presents new business opportunities

Having an established network can provide new business opportunities. New business opportunities can refer to new roles, business partners, product ideas or gaps in the market that an organisation can exploit for financial gain. Expanding your industry contacts can create opportunities to converse with professionals who may provide you with new ideas or educate you on areas where your workplace can advance.

Creates industry contacts

Having a large and established network can help you develop a greater awareness of the various professionals and trends in your industry. This often helps in the recruitment process, as hiring managers may be impressed with your connections. They may deem you more likely to provide the business with more profitable opportunities due to your awareness of their competitors and potential business partners. They may also deduce that you take an active interest in your industry's progression, which is a valuable trait in candidates. Finally, it presents you as a personable and approachable professional.

Supports your social well-being

Having a large network can provide you with opportunities to develop personal friendships, in addition to professional contacts. This helps support your social well-being, which is critical to maintaining good mental health and developing social skills. Using your network to maintain your social well-being is especially beneficial if you work alone. It allows those who are self-employed, doing freelance work or working remotely to maintain healthy levels of socialisation while working independently. Developing personal relationships via a network can also present you with mentoring opportunities that enable you to develop useful leadership skills and contribute to your professional development.

Provides advice and support

There may be instances in your career where you require advice on a strategy or scenario at work. Your professional network can be a useful place to find advice and support for difficult-to-navigate situations, helping you develop better problem-solving and decision-making skills. With a good network, you can screen business ideas, pitches or responses before you send them to colleagues or potential business partners. This can help you minimise errors in communication, improve your confidence and bolster success.

Want to know more? Head on over to the full article here for more ideas and perspective. Afterwards, why not drop me an email to share your thoughts at [email protected]; or call me on 0467 749 378.

Thanks,

Robert