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Is Networking Important in Business

At Covve, we are passionate about helping people stay connected and build meaningful relationships. Organize your relationships with Covve`s personal CRM; Scan business cards with Covve Scan; Replace your paper business card with Covve Card and become a networking expert with our research-based networking courses. The meaning of the saying “no one is an island” has proven to be the reason why many of us have to make a collective effort to succeed professionally. For many people who have been successful in their careers, causes have largely contributed to the strong network channels they have created over time. Access to higher levels can be difficult in some organizations. This is where networking can introduce you to more experienced professionals. Being able to access their wisdom and career guidance is key to your future growth. Networking is more than just showing up at events or sometimes saying hello to another professional. It takes effort and commitment, so make sure you interact in a meaningful way. Discuss things that add value to your relationships, send them information you`ve found that you think will benefit them, praise them for promotions and new projects, etc.

This can be a great way to strengthen your business as a whole. Maybe you need a new idea from a different perspective on how to unleash creativity in your business. Make sure you log in regularly so you don`t get forgotten. The importance of networking cannot be overstated. But how can you improve your networking skills to ensure you connect effectively? These networking tips will help. Networking can increase your social well-being and help you make lifelong friends. You may be focusing on the professional side of the network. However, many friendships began at work or in professional positions. Networking often connects you with people who share your passions, interests, and career path. Meeting like-minded people in a business environment can not only give you a virtual Rolodex of potential resources, but also lead to lasting friendships. And let`s face it: making friends as an adult is definitely harder than making friends on the playground as a kid! A controlled experiment confirmed this: people in whom we evoked feelings of power found networking less repugnant and more willing to do so than people assigned to a state that rendered them powerless. Many companies, associations and schools offer valuable mentoring programs.

A simple Google search can help you find programs in your area that meet your needs. It`s a great way to learn from people and companies in our field that have a proven track record. Basically, the type of networking we`re talking about is meeting new people. However, what distinguishes networking from meeting someone by chance at a party is your intention. Many people assume that networking only makes sense during a job search. But the purpose of networking goes far beyond finding your next job opportunity. For example, when we examined 165 lawyers at a large North American law firm, we found that their success depended on their ability to effectively establish networks internally (to be assigned to selected clients) and externally (to bring business into the firm). Those who found these activities tasteless and avoided them had fewer billable hours than their peers. Building a successful business takes a lot of time and motivation, so it`s good to have a network of friends and co-workers from which you can draw energy and keep you going. By surrounding yourself with people who share a similar motivation and ambition, you are more likely to move forward as a group.

A key part of effective networking is getting you known. The premise is that the more people you meet, the more people will get to know and remember you and your business. You should take every opportunity to meet and connect with new people. Are you afraid of networks? That`s why it`s time to change your perspective. A personal or LinkedIn connection can be tied to a job that suits you perfectly. You can also ask for your help to pursue a project that you are passionate about. When people know what you`re interested in, they can help you find opportunities you might otherwise have missed. You might even find your next mentor or business partner through networking. Another invaluable benefit of networking is access to influential people you might otherwise struggle to connect with. Industry events often feature workshops led by big names in the business world and professionals from other parts of the world. You can leave an event with a few phone numbers of interesting people who can pitch new ideas to your team. These events also provide the perfect opportunity to meet face-to-face and connect with powerful people.

No need for cold emails or phone games. However, you can`t just show up at a networking event and magically expect to build a strong professional network. Here are four strategies to help you focus your networking efforts. “Start where you`re motivated to meet new people with common professional or personal interests,” Baikowitz advises. Think about what you`re passionate about and who you feel most comfortable with. This could include networking with your alma mater local, a community organization or a swim team. Baikowitz also suggests volunteering to find a new job or advance your career: While you don`t need to know exactly what to expect from every networking opportunity, it`s important to start each activity with a purpose. For example, you might attend an event with the goal of connecting with three new people in your industry or bringing a new perspective to share with your peers. Participants who remembered professional networking were twice as likely to write “WASH,” “SHOWER” and “SOAP” — words associated with cleanliness — than those who remembered social media, who were more likely to write neutral words like “WISH,” “SHANGER,” and “STEP.” In other words, while most participants viewed networking as positive for socializing and making friends, they viewed networking to enhance their careers as distinctly negative.

Their negativity wasn`t just dislike or discomfort. It was a deeper sense of moral contamination and inauthenticity. It may sound a bit Hollywood, but the business world is often more focused on who you know, not what you know. By networking regularly and pushing yourself to talk to people you don`t know, you`ll gain confidence as you do it. This is very important as a business owner, as the growth of your business depends a lot on talking to people and making connections. For example, if you own a restaurant and belong to a restaurant association, you can find out what are the latest employee management software or practices that you can bring back to your own business. It`s not just about who you`re connecting with directly – that person already has a network that you can access as well. So ask the right questions to find out if the person you`re networking with knows who you want to know! The next step in making networking more acceptable is to think about how your interests and goals align with those of the people you meet, and how this can help you build meaningful working relationships. Brian Uzzi of Northwestern University calls this the principle of joint activities. “Powerful networks don`t come from random interactions, but from relatively high-stakes activities that connect you to various others,” he explains.

(See “How to Build Your Network,” HBR, December 2005.) Many studies in social psychology have shown that people make the most collaborative and lasting connections when they work together on tasks that require each other`s contribution. In fact, research conducted by one of us (Tiziana) with Miguel Sousa Lobo of INSEAD has shown that this “task addiction” can be one of the greatest sources of positive energy in professional relationships.