What is networking about, really?

Hello! In this material, we would like to talk about networking, one of the important skills for a career and life. Why might one need to keep a network of contacts? How to manage the network of various people? And what actually could you consider starting to build your network?

What is networking …

… by definition

Networking is a process of establishing contacts and exchanging information with other people for casual or professional purposes [1]. Networking also generally implies building relationships with the anticipation of future benefit.

… in fact

Networking is about building the shortcuts. Shortcuts to information, tools, or skills of other people. During the networking activity, one shares and finds out more about other people to build relationships. In the process, you discover and set up these shortcuts associated with others. Maintaining a network of various people helps you to access the knowledge and skills you could otherwise spend hours, days, or even years to obtain.

The impact of networking

There are a lot of reported opinions that building and keeping the network impacts professional activity.

Employment industry representatives agree that networking has a significant impact on an individual's career [2, 3]. There are fancy values between 30% and 80% describing the number of jobs that are occupied thanks to personal connection rather than as a result of the cold application. We (the authors of the article) haven’t succeeded in finding reliable data on the impact of networking yet. So, let’s agree that professionals generally consider building the personal network helpful, but keep in mind that this topic must be studied further.

For businesses, the networking means not only peer-to-peer relations but the communication with customers as well. The impact of such relations is clearer to observe.

For example, in a study of 50 manufacturing firms (Florida, USA), authors found out that the customers are the primary information source for competitive issues, such as product development and meeting customer mandates (including improving quality, delivery, and price). [4]

Two strategies of networking.

To answer the question on what to consider starting to build your network, we would love to share a model from a paper “Dynamic Relationship Building: Exploitation Versus Exploration on a Social Network” [5]. It suggests two strategies of networking.

Exploitation strategy focusses on building relations with people who are already in your network or somehow in proximity. For instance, family, friends, classmates, colleagues, etc.

Exploitation can be helpful when reliability, trust, and quick connectivity are crucial.

Exploration strategy seeks to build relationships with distant or less connected people, thereby exploring new areas of the network. This might mean going to events dedicated to other domains and meeting people there. Having occasional chats works well too.

Exploration is valid when broader knowledge or opportunities are preferrable, especially in open, dynamic environments.

These strategies can be perceived as somehow antipode, since one either builds a relationship with people they know, or reaches out further. Although, as with mutually exclusive strategies, the true mastery lies in their combination and picking the suitable one at the particular moment.

Whom to add to your network?

Deciding to be more mindful about interpersonal relations they build, one may ask: Whom to invite and keep in their network? There can be a general approach to follow. Let’s speculate about different options for picking your connections.

• a) Well, the simplest tactic is to choose “(good) people I like." If you are a reasonable, stable person, this shouldn’t get you into trouble. Surround yourself with ones you like to talk to, see, or hang out with, and that can be enough to live a good life. 
• b) The second one is a “profession-focused” approach. Evaluate your skills and resources, then match them with challenges you encounter in regular and professional life. For example, is there a good lawyer, technician, or analyst you trust and can consult right away? If some crucial expertise is missing in your network, it’s a sure call to fill the gap by knowing people out there. 
• c) Your circle can be built complementary at the activity level. Do you have someone to do sports with, go shopping, or go on a trip? Finding the companion for a hobby might not be difficult, especially if there are groups already. What’s important is to be mindful about your lifestyle and send “signals” outside to attract the fitting people.

Networking is about building relationships

To access another person’s shortcuts when needed, one has to build a relationship. That involves saying or doing something helpful at the moment when the person needs it. Or assuring that you would be around when the person reaches out to you. Then meeting their expectations accordingly. This is where the networking becomes the skill of management.

Generally, networking activity can be represented as ever-happening “exercise” you do about other people:

• What do you have? ←→ What the person needs?
• What do you need? ←→ What the person has to offer?
• Will you be able to meet their expectations? ←→ How likely are they to meet yours?
• Should this relationship be changed or maintained as it is?

These seem like a lot of aspects to keep in mind, but these are quite natural. So, the most important thing is to remember that a relationship brings something to you and another person, and it can be shaped by your own effort.

Conclusion

Networking can be treated as the exchange of information and ideas with others. The only difference with a casual relationship is that you are more thoughtful about what you are looking for in people. In other aspects, networking can (and should!) be genuine and intentional. Build your network and stay in touch!

Sources

1. Oxford Learners Dictionaries - Networking
2. LinkedIn - Eighty percent of professionals consider networking important
3. CNBC - Getting a job
4. Kingsley, G., Malecki, E.J. Networking for Competitiveness. Small Business Economics 23, 71–84 (2004).
5. Yan, B., Chen, Y., Liu, J. (2017). Dynamic Relationship Building: Exploitation Versus Exploration on a Social Network. In: Bouguettaya, A., et al. Web Information Systems Engineering – WISE 2017. WISE 2017. Lecture Notes in Computer Science, vol 10569. Springer, Cham. https://doi.org/10.1007/978-3-319-68783-4_6