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Learn The Power Of Networking In 5 Minutes

By Ken Tan

Republish: EasyPublish™ Published: 15Sep2008 Word count: 955 Viewed: 254 time(s) Get Free Content For Your Site

I first heard this phrase ("Your Network Is Your Net Worth) from Robert Kiyosaki in his book "Rich Dad, Poor Dad". Then, many people started using the phrase again and again, as if it was a phrase from the Bible.

But I thought for a while, is it true? Does the extension of your network, simple reflected in your net worth? Or does the quality of your network determine your net worth?

I was curious. So, I ventured out to find the elusive answer through books, friends and eventually I stumbled upon a workshop. A workshop conducted by DU Advanced Toastmasters Club. Here is what I understand from the Singaporean trainer.

(1) What is networking?

Networking can be anybody. For example, the toilet cleaner, your child's friends or your friend's mother or even the waitress serving you could be your network. They may be the next one, who introduce you to the CEO, General Manager or Head Of Department ("HOD") of a company. If this is true, then in short, networking can be built by anyone, at anytime, to anybody. This simply means you have to be nice to everybody (smiling).

Networking also means sharing your competence with your alliances.

Network refers to someone, who knows someone, who knows someone, who knows someone, who knows someone. They may not be the someone doing the job for you, but that someone may open doors for opportunity to you when you're in need.

Networking is about being professional, it is about being connected, being involved and being interested in people.

(2) So, why should people even network with you?

There are only 3 reasons, why your friends network with you, now.

(a) Your POSITION

Just imagine this. If you are the CFO of a company, I bet you, that bankers, lawyers, partners of audit firm and the entire HOD will be begging to be in your network. For an obvious reason, you have the authority to deposit money into their banks, to appoint or engage them for certain services and also to approve their budgets. But the risk is, what if you no longer working as the CFO of the company? You have to think about it because nothing is evergreen.

(b) The INFORMATION you can provide them

The second reason why people network with you is because you have certain special knowledge, skills or experiences that they don't have. If you know all the gossips at your workplace, I bet you'll have more friends. Because, whenever your colleagues want some updates in the office, you will be the someone they are looking for.

Let says if you have always known to be a person, who poses high problem solving skills among your friends. And the next time your friends, have a problem, do you think it is more likely that they will look for you or someone else on the street? Do you think they will want to keep you as their close network over someone who has nothing to share? Think about it.

If you know the best place for food, the cheapest car repair workshop or even the best deals for online purchases, you'll definitely have an edge over your other friends.

(c) The CONNECTIONS you have

You know everyone in the town, all the top notch bankers, famous lawyers and even celebrities, you'll have more friends. Rather than investing hours and hours networking with hundreds of people, your friends could simply tap on the vast network you already have. The just need to know you and they'll have the key to access hundreds of your friends. Likewise, it will be the same for you too This is call 'leveraging' on each others network.

So, the most important question is which of the above do you poses? Position, information or connection? If you have all 3 of them, "Well done!" Your network should be extensive by now. If you have none of that, your network would consider limited.

But the latter is no longer a concern. Because, now you already know the three reasons why people network with you and guess what, many of your friends, don't even realize it yet.

If you already have a huge extensive network then, you can always expand it further. But if you have limited network, here are something you could do:

(i) make the most of your existing connections

Re-connect with them through off-line and online such as e-mails, social community site like www.myspace.com or www.facebook.com.

(ii) build your social capital

Find out the best eatery place in town, the cheapest flight tickets, the happening events in your area, the best lawyers, the most trustworthy contractors or the most reliably insurance agents. and

(iii) Creating new connection

A common networking session that I've attended often happens in this manner.

First, introducing yourself to strangers, then talking with them, asking them questions, knowing them, having drinks and then, eventually forgetting about them. Usually the last line is, "We shall catch up again someday". But the truth is, they never catch up. Maybe at the end of the conversation, they even forget about the person name.

Most people spend time SOCIALIZING, but they thought they are NETWORKING. Networking is about maintaining close contact through offering and sharing with other people your social capital, so that both can connect.

Here comes my thought. Expansion of network is crucial, but the quality of your network is even more important than the quantity. The simple fact is, if you lie down with dogs, you come up with fleas. If you network with positive and like minded people, you'll be positive minded as well. If you network with negative people, you'll turn negative. So, choose wisely.

Warmest regards, Ken Tan

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