It might be helpful if we look at the definition of Networking and its definitions, as these can be very helpful in understanding concepts, especially in Networking where there are so many possibilities. Network
The Oxford English Dictionary (OED) definition of a (business) network is: "A group or system of interconnected things or people."
This is significant when we consider networking in its entirety – this goes way beyond regular meetings, one-to-one’s, follow ups or contacts.
The word ‘network’ first appeared in English around 1560. It meant, 'a netlike structure'. Through the years words develop and the meaning of 'a complex collection or system' is first recorded in 1839.
You probably will not be surprised to learn that these terms derive originally from the net used by a fisherman. The bigger and stronger the net, the more fish would be caught.
It is just the same with business networks. (The fish represents your aims, for example sales achieved, or new clients and prospects met.)
A lot of groups push the 1:1 meeting and record it on a table, but Networking goes beyond these meetings.
Effective networking involves building a strong well-connected network. This is the foundation of that elusive ‘Trust Based Relationships’ everyone in business is looking for.
If you view your network as a place simply to sell you goods and maybe buy some services your network will be weak. If you purpose is to help and give, your network will be strong.
To many this is counter-intuitive, but it works. Far too many people in networking circles don’t grasp that by helping and teaching and giving they will be so much stronger and as a result, much more successful.
Networker
The Oxford English Dictionary definition of a (business) networker is:
"A person who uses a network of professional or social contacts to further their career."
The word 'career' in the OED definition is somewhat limiting. In fact networking has for centuries been used in various ways to grow business. It is as well as personal careers, and to make all sorts of projects happen, regardless of the terminology.
There are many purposes to which the networking efforts are directed can be anything.
Principles of networking are finding and building helpful relationships and connections with other people.
Mutual benefit (or mutual gain) is a common feature in successful networking - and this is a powerful underpinning principle to remember when building and using your own networking methods. It is human nature, and certainly a big factor in successful networking, for an action to produce an equal and opposite reaction. Effort and reward are closely linked.
The expression - "You scratch my back, and I'll scratch yours" or “It is better to give than receive” are other ways to appreciate the principle of mutual benefit.
I am sure that all of you are aware of the saying "It's not what you know; it's who you know. That counts."
"Why would somebody want to know me?"
That question is loaded and there are many answers, however in networking the answer can be deceptively simple. People may do something for nothing for someone once or twice, but sooner or later some sort of return is expected. Or people will do you a favour and because you are networking it is just polite to ask “can I do anything for you?”.
This is the principle of reciprocity.
Reciprocity: this is the power of networking and applies where recommendation and referrals are involved.
You might like to ask yourself:
"Why would someone refer or recommend me?"
This introduces the vital aspects of trust and credibility and integrity. Remember the trust based relationship we arte looking for?
Would you refer someone you did not trust, to a valued contact of yours? Other people tend not to either. A simple rule of thumb is this. Ask yourself if you would refer this person to your mother? Yes do No or doubtful don’t.
Return or reward, or equity for effort does not necessarily have to equate precisely to the initial gesture. Importantly, reward is whatever should make sense to the recipient. Be honest when you were asked for directions and someone says 'Thank you' gives you a good feeling. It’s like that in networking, this simple act may be enough. To others something more tangible is required. It depends on the situation, the value of the exchange, and the individuals and relationship you have developed.
Business networking is practised by all sorts of people in work and business, especially through organized networking events and online services.
People who use networking come from all sectors of the business community. They can be employees, owner-managers - any role, any level, and any specialism. What they in common is they all want the same thing, more connections, which in turn will give them the opportunity to make more presentations.
Networkers can be buyers and/or sellers, not least because most people are potentially both: most of us want to 'sell' or promote our own interests, and mostly we are all capable of 'buying' or otherwise enabling the interests of others.
Particularly beneficial results can arise from networking when people's interests coincide to produce an effect greater than the separate parts. Networking can be a very helpful way to find such cooperative and collaborative partnerships - based on mutual interest.
A way of understanding this aspect is through the term synergy.
Synergy is a combined effect that is greater than the sum of the two, or more individual parts. The synergy between two providers, sometimes competitors can produce valuable new service propositions, enabling providers to work as associates or through more formal partnership.
Building synergistic connections can therefore be a good way for smaller providers to compete effectively with much larger suppliers.
So now we know, Networking works by connecting people. The benefits and effect are valuable and desirable, so look out for them, and try to build a network which contains many sorts of connections, especially where it strengthens your market offering.
Paul
Helping Real people do Real business through Real networking
