NETWORKING HAS AN IMPACT ON INCOME
IT’S NOT THE QUANTITY OF BUSINESS CARDS YOU COLLECT; IT’S THE QUALITY OF THE RELATIONSHIP YOU BUILD.
In today’s economy, many of us are scurrying around trying to find that next opportunity—whether it’s a career change, becoming an entrepreneur, or looking at a franchise, we are all using our networking skills to find what it is we seek.
A new report was just released from Pepperdine School of Business in California. It’s called “Professional Networking and its Impact on Career Advancement”.
Statistics showed that networking effectively has a significant impact on income. The study segmented the “elite-professional demographic” with 58% between the ages of 39 to 60. In this study, earnings were substantially more than the national average. Most were in leadership or executive roles working full time. The respondents reported that their networks were the most impactful tool in identifying and securing jobs. Forty-six per cent sited networking as the first and most important step in the job search process.
I would argue that networking is first and foremost in any search—for a career change, to become an entrepreneur, or to start a small business. When you network you get work!
SIX VARIABLES IDENTIFIED AS CRUCIAL IN THE STUDY WERE:
- Willingness to recommend
- Depth of personal relationship
- Frequency of communication
- Frequency of contact
- Position or level of influence of those in your network
- Professional opportunities generated by your network
The social network LinkedIn was rated high when it came to public and private websites that they visited most frequently.
FIVE SKILLS IDENTIFIED THAT MUST BE TAUGHT:
- Learn to maintain ongoing contact.
- Proactively build relationships with mentors and advisors.
- Identify, research, and add new connections to your network.
- Gather meaningful introductions to key contacts.
- Evolve relationships from contacts to close connections.
If the study is reflective of our present economy, everyone must not only use networking effectively, they need to consider taking lessons to maximize their skills.
I am amazed at how many people I meet in my workshops and keynote speeches that don’t know how to network with measurable results. While there are all kinds of training programs out there, I can’t find one that teaches people how to use without abuse, that overworked word called “Networking”.
I facilitate events across the province called “Network to Get Work”. These events are geared towards helping participants find common ground with other attendees and to become comfortable building relationships without the need to sell themselves or their products. Too many times we see people exchanging business cards without any idea how to follow up profitably with each person they meet. I can’t stress enough that it is not the quantity of business cards you collect that is important, rather it is the quality of the relationship you built that will give you measurable results.
I use the RISE Philosophy. It is a networking strategy that never fails. R is for Rapport. You need to find out what you have in common before you start pitching your products or services. People like people who are like themselves; take the time to find out exactly what you have in common. Once you have established a rapport, you can move on to the next step which is I for Information. Take the time to share relevant and timely information about yourself and your product or service, but listen carefully first to what your colleague has to say. Your information should reflect his needs, not yours! Once you’ve completed the information sharing, you’re ready to move on to the next step which is S for Solutions. You’ve both got needs, and by asking the question, “How can we help each other?” you can begin to find exactly that—ways to provide resources, introductions and information to benefit both sides of this conversation. The final piece of this strategy is most important— it’s E for Ethical. Never make any introduction without permission, make sure the resources you share are public domain and not a private document. Using the RISE philosophy keeps you on track. You can monitor and measure the results.
For a copy of the Pepperdine Report or an overview of the RISE Philosophy send an email to: info@connectuscanada.com with “Pepperdine” in the subject line.
Donna Messer is an author, speaker, and coach. “Network to Get Work” workshops can help anyone in transition.
Her training programs are used in colleges and universities across the country. To reach her call 905-337-9578 or visit the website at www.connectuscanada.com
