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Your success as a business leader largely depends on your competence and confidence in the role. More than your capacity to lead a team, it’s how you develop new relationships within and outside your industry that complements every other trait you cherish as a leader. For this reason, networking is one area you can’t afford to set aside.
With the right skills and mindset, you can turn a simple conversation into a multi-million dollar deal or a casual meeting over coffee into a brand collaboration. While the capacity to network comes naturally to some, it’s still something you need to work on as you become responsible for your company’s growth and relevance. All it takes is knowing how to hone this component as part of your leadership arsenal. Here are a few tips to help you out:
1. Relationship-Building
For some executives, networking is part of a grand strategy for expansion. A company needs the support of other organizations within and outside its industry to thrive. Today’s leaders value authentic connections more than anything, so it’s important that you prioritize relationship-building.
Focus on sharing ideas and coming up with solutions with a potential partner, and not just building new income streams.This will put you in the right mindset and allow you to network without sounding sleazy or exploitative.
2. Initiate Conversations that Warrant a Follow-Up
The size of your network has little to do with your company’s future success or having the most Fortune Global 500 executives in your LinkedIn connections list. Building relationships with the right people matters most, so when you’re networking, take the following steps:
- Seek out like-minded leaders within and outside your industry
- Be intentional
- Remain open to other perspectives and insights
- Initiate conversations
- Avoid turning an interaction into a sermon or monologue
- Never begin your interaction with an elevator pitch
It’s only when you create a safe space for meaningful discussions that you can sustain another leader’s attention and make a follow-up meeting more likely. Send a friendly email or connect with them via WhatsApp. Always be mindful of their time, and never force your way into their calendar.
3. Nurture Your Current Circle
Your inner circle of friends and family members can serve as your starting point. This gives you access to new connections that are difficult to find on your own, even if it involves looking for an app development company. Another advantage of this is the level of support you get from your friends and relatives who can vouch for you. Your close association with them is crucial to helping you get started on your networking journey.
This makes it easier for you to secure funding, raise brand awareness, and even participate in exclusive events. Keep in mind that in some cases, relying solely on your inner network deprives you of the chance to grow on your own and creates a sense of dependence and misplaced privilege. Stay grounded and define clear lines between maintaining personal ties and building business connections.
4. Learn to Build Rapport
Complacency will cause your relationships to diminish in quality. While you may be active in seeking out new contacts, you should be just as enthusiastic in sustaining the connections you worked so hard to build. Remembering birthdays might seem basic, but it lets the other person know how much you value them.
Taking this to another level, invite them for coffee whenever they’re free and set aside time for them when you’re free. Over time, your interactions could evolve from having casual conversations over lunch to playing a golf tournament and picking out custom socks for the executive team. This commitment to rapport-building will eventually lead to signing partnership deals, collaborations, and possible overseas expansion to countries like Qatar or South Korea. It will take you a long time to get to that point, but the key is to be consistent and generous with your time and attention.
5. Focus on Finding a Mentor
More than just advocates, your purpose for networking should also be grounded in seeking a mentor within your industry. As a young executive, having a mentor who can walk you through familiar and unfamiliar challenges will pave the way for other skills to develop.
Never limit your activities to people within your age group, industry, or level of experience. Consider signing up for coaching programs in your industry or reach out to influencers who are open to mentoring startup founders and small business owners. Be sure that these personalities’ values align with yours. Otherwise, you would end up compromising on your vision and adopting someone else’s goals. A good mentor will understand your vision for your business and help you make the right decisions that will get you to where you need to be.
Endnote
The quality of your networks is a resource your company can’t live without. Knowing how to build and retain valuable connections will help your organization move forward.
