Updated: Jan 7
Networking is all about building valuable relationships and a network that will work for you. As you embrace networking as a part of your business strategy, you also need to answer a few ‘why’ and ‘what’ of networking.
Sharing these important facts for you to keep in mind as you explore networking as an important tool for success and growth.
Facts #1: Everyone needs to network.
Whether you are a business owner trying to close a deal or a professional trying to land a dream job, you need to network.
Statistics tell us that you have 40% chance to close the deal if you have a business meeting in person. Also, 85% of positions are filled by networking but only 25% of professionals network. (Source: Hubspot, Marketing Expertus, 2020).
This is because relationships are the basis of any business deal or job placement. When people meet you in person and know you, they tend to trust you more. The core fact is people do business with people.
Facts #2: Everyone needs to learn to network.
Networking is about building long-term valuable relationships that will eventually help you become credible, successful, and influential.
To be a successful networker, you need to acquire the right strategic networking skills that include people skills, relationships skills, etc along with your professional competence. It is a long journey of personal development and refinement which requires continual efforts in order to fetch monumental results. Are you ready?
Hiring the right networking coach is a good idea. He will help you in your journey by showing you the correct path, giving you the knowledge and actionable tools to network strategically, and helping you save years of hit and trial.
Fact #3: Networking is different from selling.
The real art of networking lies in the fact that you can sell without selling. This process is opposite to usual sales practice.
It is about building relationships. First, you need to consciously build relationships before and add value to them before you even think they will buy. In fact, the most successful salespeople understand the value of relationships and they would not try to pitch before the client is ready.
Fact #4: Networking requires time and effort.
If networking promises you success, it also requires your long-term commitment, time and efforts. There is no overnight success here.
You don’t buy a product just by meeting someone over a 10-minute networking session. You need to invest time in relationships, nurture those, before it gets rewarding.
For example, you just met ‘A’ who is marketing insurance in a networking event. Would you just go ahead and buy insurance from him by meeting him once? In fact, if your trusted friend suggested that you should buy from ‘A’, then you might.
Business decision making is a complex process and networking makes it simple.
Fact #5: Networking is about quality and not quantity.
It doesn’t matter how many cards you give, how many people you meet or how many events you attend. What matters is how many people you spend quality time with and offer them value.
Your networking goal should be to meet and show interest in people even if you know fewer. Networking for success means having deep understating about people in your network and add value to their lives.
Ready to network? Just remember that time is the best investment for any relationship. If you are committed to investing your time in networking, I can promise you that it will never fail you.