Networking: 7 best practices to get the most out of it

Considering how much the market structure has changed, becoming more and more digital, efforts are focused on generating key connections. In this case, it is essential to have a networking strategy. If you are wondering how to make professional relationships within the sector in which you work, here we tell you the best practices of networking and its advantages, join us!

What is networking?

The term networking can have different meanings depending on the perspective from which it is being analyzed. However, in this article we will focus on explaining what networking is in terms of human relationships.

In this sense, we can define networking as an activity that consists of the exchange of information between two people who share common interests. From a professional point of view, networking can be established between professionals, as well as between companies or institutions that wish to build long-term relationships in order to perceive a mutual benefit from the creation of specific links.

To help you better understand how it works, here are some situations that exemplify what networking is all about:

  • The strategic alliance between two companies with the purpose of increasing their chances of winning a public bid.
  • Collaboration between influencers through social networks in order to nurture their respective networks of followers.
  • The association of two or more consultants to increase the professional opportunities available to them.
  • The collection of data from different departments of a company to prepare the offer letter of various services.

The importance of business networking: 5 advantages

The common practice of networking today is because today’s world of work allows people to build their own identity, which, in part, is determined by the type of connections that can be made and the difference they can make between having an average career and an exceptional one. 

Here are the most important advantages of practicing business networking and expanding your network of contacts:

Your network of contacts is strengthened

Attending networking events is one of the best ways to establish new professional connections. But it is not the only one. Today there are complete platforms designed to help you diversify your networks, for example, LinkedIn.

It is also possible to solidify your sources of contacts by attending professional events within the academic field. In reality, there are plenty of opportunities, you just have to know how to take advantage of them.

Increase your job opportunities

Whether in terms of representing your personal brand or your company brand, business networking offers you the possibility of accessing other job opportunities that you would not otherwise have known about. 

This is because many companies resort to co-optation processes or referral programs to carry out their recruitments instead of making them public. Likewise, company directors often attend events for the purpose of handing out business cards that can then be considered for partnerships or agreements.

You gain knowledge

Take networking as an opportunity to exchange knowledge and learn new practices that enhance your own professional experience. Therefore, it is important that you collect contacts that are active and interested in improving their knowledge, as this means access to new and valuable information every time you interact with them.

Improve your visibility in the market

Networking improves your chances of becoming known in the marketplace as an expert in your field and begin to have some notoriety and renown among professionals in your industry.

You can renew your projects and ideas

When you have enough contacts to establish a solid network, you will be able to use them as a source of inspiration and ideas for your own business. That’s where the importance of choosing your contacts wisely lies.

When you have access to different perspectives on a topic, it can be beneficial when it comes to innovating your own personal projects.

 

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How to network correctly? 7 best practices

After telling you about these advantages of networking, have we convinced you to start putting it into practice? If so, here are 7 best practices for success:

Networking

1. Set your objectives

It is clear that if you are considering networking, it is because you have plans to develop your own business or you want to revolutionize your professional career. Either way, it’s critical that you establish the goals you hope to achieve by networking:

  • Increase your network of contacts in the sector where you work.
  • Publicize your products and/or services.
  • Gain greater visibility on the latest market trends.
  • Find strategic allies in order to develop your projects.

2. Prepare yourself adequately

Networking events become more than just social gatherings where you have the opportunity to meet people. You see, it is important that you are well prepared in two ways:

  1. What questions do you ask the people you will meet and
  2. How you present yourself to them.

As a bonus, here are some questions you can ask:

  • What does your company do?
  • What is your current position?
  • Who is your audience?
  • What are the aspects that differentiate you from the competition?
  • What are your business/professional goals?

3. Don’t wait for the “right time”.

If you’ve mastered the art of making professional connections, you know that any time can be the ideal time to reach out and do it. Even if you’re not even actively looking for new job opportunities, stay alert and willing to meet new people. You never know who might turn out to be a strategic contact at any given time.

Constantly accumulating contacts and creating connections will be much more strategic for you than waiting for the moment when you need a new job or have to apply for a project and in your mind you don’t know who to turn to.

4. Make yourself known

We know that sometimes attending events where there will be a lot of people can be stressful and overwhelming. Especially when you don’t know many people in the industry and you may find the idea of attending these events just to connect with people unpleasant.

We understand that. But, in principle, something that can help you gain ground at the meeting and that will favor your profession and interests is to, to give you an example, talk to the organizer and, while he opens the event, introduce you to some people.

As we say, this way you will prepare the ground and there will be less awkwardness when approaching people.

5. Evaluate the connections you make

While it is true that at any networking event you can make all kinds of connections and maintain contact with the people you meet, not all the professionals you meet are suitable to be part of your network.

In that sense, we recommend you to take the time to get to know your contacts and understand the small details of their business. This will allow you to know what kind of partnership you can establish with them, so you will be clear about what you can offer them and what they can offer you:

  • Business management ideas
  • Supplier recommendations
  • Tips on how to act in the market

6. Show interest in what your contacts share

If you keep in touch with the people you networked with, through LinkedIn, for example, stay tuned to the things they share and show interest in interacting with them when the topic interests you or you want to contribute something to the discussion.

Believe it or not, a “like” can be worth more than any other gesture to show that you are on the same page as your contacts.

7. Optimize your network of contacts

Just because you have a network of contacts doesn’t mean you should grow it unchecked. The real goal of networking, remember, is to establish strategic connections. It is normal that at the beginning you cannot know if a contact will be useful to you or not, or if you can offer something in return.

However, as you get to know more about what your contacts do, what their resources, interests and capabilities are, you can prioritize their connections. It will be enough to keep in touch with the people you are interested in until they, by themselves, become part of your network of privileged contacts.

It is not superfluous to advise you not to be in a hurry to discard people who at first glance do not seem to be able to bring you much, in the end, you do not know how they can grow.

 

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What things should you NOT do?

There are some practices that are often confused with networking, but should not be done, as they can be counterproductive. Some of them are:

  • Pursuing or being pushy with others.
  • Distribute your CV massively, without criteria or strategy.
  • Demonstrating egocentrism, i.e., going on and on about yourself without listening to others.
  • Aim for elite contacts, who are recognized in the area. The big fish should be left for the end, growth is progressive.
  • Exaggerate or belittle your own abilities. You must find a balance in showing off your strengths and counteracting your weaknesses.

 

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We hope that after this article you will be more familiar with networking and have some fresh ideas to start implementing it. While this technique is not new, virtuality has given it great potential, making the possibilities more and more limitless: you can connect with professionals from all over the world without having to attend in-person events, just by connecting with a click from your mobile device.

Want to learn more about business trends? Subscribe to our blog at Gestion Direct where you will not only learn about networking, but also about digital tools and strategies to take your company to the next level. Also, you can get our digital tools to improve the daily management of your company, if you want to know our prices or request a consultancy, write us to gestiondirect@gd.eu and our experts will gladly assist you.

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