The ABCs of Leveraging Networking Throughout Your Life
By Marty Latman
Founder, Latman Advisory Services
Many people think networking is something that should be done only when looking for a job. However, networking is much more than this, and should be used throughout your life.
We generally network to obtain “AIR,” or advice, information and referrals. Networking will improve your career and life by opening opportunities to you, help you gain industry knowledge, new skills and provide encouragement during challenging times. In addition, networking will provide you with introductions to others and helps facilitates the building of your reputation.
In short, networking will enrich your life during and beyond your career by helping you create friendships, giving you exposure to social experiences and providing opportunities for personal growth.
Networking is not a one-time event, and effective networking requires that you know your “ABC.” A successful networker will Always Be Connecting to new people and stay Connected to people already in their networks. To network effectively and successfully, there are certain approaches that you need to implement.
As a networker, you should realize that this experience is not about you. Instead, it is all about the other person. During your networking, you should talk less and listen more. You want to find a “common bond” to start your conversation. This bond is a shared interest, values, mutual relations or anything that both of you enjoy. It can be sports, cooking, children, books, etc.
During your networking, you want to be curious. Asking questions regarding the challenges being faced by the person you are networking with. What current projects are they working on and what are they looking to achieve short and long-term. Offer your assistance and ask how you can help them.
Can you provide them advice from your experience? Can you make introductions for them to other people? Offering your assistance will result in several benefits to the person you are networking with and should benefit you by people seeing that you are generous and resourceful. Additionally, the favor you offer now will generally be returned to you in the future. By connecting people to others, you are strengthening your own position in the network. By helping others, you get to feel good, too.
A question, which always comes up when people call me for assistance, is who they should have in their network and where can they find these people. I tell them that as a minimum, their network should contain the “Magnificent 8.” The “Magnificent 8” consists of accountants, corporate attorneys, corporate bankers, commercial real estate brokers, commercial insurance brokers, technology people, recruiters and career coaches.
These eight individual types know what is happening in the business world, problems companies are facing, knowledge of relocating organizations, knowledge of the employment landscape, the latest technology available and being used, and steps needed to overcome the issues of the day. Other people to add to your network can be located through various avenues, including family/relatives, friends, present and past business colleagues, college alumni, business customers and vendors, professional associations, conferences, LinkedIn groups, neighbors, volunteer groups, religious organizations, and people you see every day, such as the mailman, dry cleaners, pharmacist, grocer, hair stylist, and others.
Setting Goals -
As an individual, you need to ask yourself what do I want from networking. You may want career advancement, new clients, industry knowledge, new friends, mentors or something else. No matter your answer, you need to focus intently on building and maintaining your network. Do not approach networking randomly and without a plan. You should identify gaps in your networks, asking questions like: Do I have the “right” people who I want in my network? Do I need to concentrate on adding certain type of individuals to my network? Should I be attending more events where I can meet the people I want in my network? Am I spending too little time on networking? How can I leverage the people currently in my network to introduce me to others? Is my digital footprint helping me with my networking? How can I improve it? It is valid to ask yourself all these questions.
In today’s environment, LinkedIn is probably the largest database for professionals. A common question I ask professionals is how many Level 1 contacts they have on LinkedIn; and of these, how many do they connect with at least once a year.
Generally, the disparity between the two is quite large, where people have a lot of Level 1 connections but they rarely speak with them. I call this “just collecting baseball cards.” But there can be many opportunities missed by not leveraging the contacts you have on LinkedIn. To leverage your contacts you need to build a relationship with them.
This starts when they initially join your LinkedIn network.
Do you send thank you notes when a person joins your network? By thanking your contacts, you are taking the first step in building a relationship with them. To continue to build your relationship, you can send your contacts birthday wishes, congratulatory notes on promotions, awards, change of companies, articles which they may find interesting and other items to keep you top of their minds. As your relationships build, you can introduce people to other people and opportunities which you come across. As you build these relationships, the law of reciprocity will set in. People with be contacting you looking for advice, sharing opportunities and introducing you to others who can enrich your network.
Your network is a valuable tool and should be used and protected continually. In my opinion, at least 10% to 15% of your time should be invested in building and maintaining your network. It is worthwhile to review your network every few months to ascertain if you need to expand and refine it. As you work on your network, you will become aware of many opportunities, and establish a wonderful support system. Building a robust network does not happen overnight. It takes time and effort to become a successful networker. Every day, remember your “ABC” and the result of your networking today will benefit you in the future.
We generally network to obtain “AIR,” or advice, information and referrals. Networking will improve your career and life by opening opportunities to you, help you gain industry knowledge, new skills and provide encouragement during challenging times. In addition, networking will provide you with introductions to others and helps facilitates the building of your reputation.
In short, networking will enrich your life during and beyond your career by helping you create friendships, giving you exposure to social experiences and providing opportunities for personal growth.
Networking is not a one-time event, and effective networking requires that you know your “ABC.” A successful networker will Always Be Connecting to new people and stay Connected to people already in their networks. To network effectively and successfully, there are certain approaches that you need to implement.
As a networker, you should realize that this experience is not about you. Instead, it is all about the other person. During your networking, you should talk less and listen more. You want to find a “common bond” to start your conversation. This bond is a shared interest, values, mutual relations or anything that both of you enjoy. It can be sports, cooking, children, books, etc.
During your networking, you want to be curious. Asking questions regarding the challenges being faced by the person you are networking with. What current projects are they working on and what are they looking to achieve short and long-term. Offer your assistance and ask how you can help them.
Can you provide them advice from your experience? Can you make introductions for them to other people? Offering your assistance will result in several benefits to the person you are networking with and should benefit you by people seeing that you are generous and resourceful. Additionally, the favor you offer now will generally be returned to you in the future. By connecting people to others, you are strengthening your own position in the network. By helping others, you get to feel good, too.
A question, which always comes up when people call me for assistance, is who they should have in their network and where can they find these people. I tell them that as a minimum, their network should contain the “Magnificent 8.” The “Magnificent 8” consists of accountants, corporate attorneys, corporate bankers, commercial real estate brokers, commercial insurance brokers, technology people, recruiters and career coaches.
These eight individual types know what is happening in the business world, problems companies are facing, knowledge of relocating organizations, knowledge of the employment landscape, the latest technology available and being used, and steps needed to overcome the issues of the day. Other people to add to your network can be located through various avenues, including family/relatives, friends, present and past business colleagues, college alumni, business customers and vendors, professional associations, conferences, LinkedIn groups, neighbors, volunteer groups, religious organizations, and people you see every day, such as the mailman, dry cleaners, pharmacist, grocer, hair stylist, and others.
Setting Goals -
As an individual, you need to ask yourself what do I want from networking. You may want career advancement, new clients, industry knowledge, new friends, mentors or something else. No matter your answer, you need to focus intently on building and maintaining your network. Do not approach networking randomly and without a plan. You should identify gaps in your networks, asking questions like: Do I have the “right” people who I want in my network? Do I need to concentrate on adding certain type of individuals to my network? Should I be attending more events where I can meet the people I want in my network? Am I spending too little time on networking? How can I leverage the people currently in my network to introduce me to others? Is my digital footprint helping me with my networking? How can I improve it? It is valid to ask yourself all these questions.
In today’s environment, LinkedIn is probably the largest database for professionals. A common question I ask professionals is how many Level 1 contacts they have on LinkedIn; and of these, how many do they connect with at least once a year.
Generally, the disparity between the two is quite large, where people have a lot of Level 1 connections but they rarely speak with them. I call this “just collecting baseball cards.” But there can be many opportunities missed by not leveraging the contacts you have on LinkedIn. To leverage your contacts you need to build a relationship with them.
This starts when they initially join your LinkedIn network.
Do you send thank you notes when a person joins your network? By thanking your contacts, you are taking the first step in building a relationship with them. To continue to build your relationship, you can send your contacts birthday wishes, congratulatory notes on promotions, awards, change of companies, articles which they may find interesting and other items to keep you top of their minds. As your relationships build, you can introduce people to other people and opportunities which you come across. As you build these relationships, the law of reciprocity will set in. People with be contacting you looking for advice, sharing opportunities and introducing you to others who can enrich your network.
Your network is a valuable tool and should be used and protected continually. In my opinion, at least 10% to 15% of your time should be invested in building and maintaining your network. It is worthwhile to review your network every few months to ascertain if you need to expand and refine it. As you work on your network, you will become aware of many opportunities, and establish a wonderful support system. Building a robust network does not happen overnight. It takes time and effort to become a successful networker. Every day, remember your “ABC” and the result of your networking today will benefit you in the future.
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