Networks are more than just social groups – they’re a fundamental tool for success. Getting ahead in business, and life, requires a strong network of diverse individuals and relationships. This blog post discusses the importance of networking to not only feel connected but also to get ahead.

What Are Networks?

A networking event or networking website is a site for the exchange of business cards, contacts, and messages and for developing professional relationships. Networks can be seen as a type of community – people with common interests coming together to form a group.

A network is an interconnected group of actors who are connected in some way. Generally, the term refers to social networks and online interactions. There is also a physical sense in which a network can refer to the structure of electricity or computer hardware, with nodes (electrical conductors) and lines (connections between nodes).

When networkers don’t know the people in their own network, they are at an information disadvantage and don’t have access to the resources they could share with one another.

Why Should Executive Women Have Strong Networks?

There are many good reasons why women should have strong networks. A study conducted by the Harvard Business Review found that this yielded a 35% increase in revenue from networking relationships over 10 years. Additionally, 73% of people surveyed said that those who had more social capital were happier than those with less social capital among their friends and colleagues.

Networks: More Than Just Social Groups

It’s summertime at the wine bar, and six women have found themselves sitting around a table on an outdoor patio after work hours, glasses of wine in hand with their business cards strewn across the tabletop as they engage in conversation about anything but work. It may sound like an odd way to spend their time, especially when working mothers are usually worn down by 9 or 10 p.m. But this conversation is actually happening at will because these women are part of a network.

When you think about a network, you may imagine it as consisting of people who all play the same social sports team or belong to the same book club. But that’s not how business networks work. Networking is an activity in which you take steps to get to know and interact with other individuals – people who have similar goals (such as making money) and are actively in pursuit of them.

Women who have joined a professional business organization say they do valuable contacts and receive support and advice. “Networking has been the most important thing I have done to establish my business and improve my reputation in the industry,” one member said. “It’s also given me access to key decision-makers I couldn’t have reached otherwise.”

The Power of Networks for Success

Networking can help you move forward in your career and build a solid reputation, regardless of whether you’re working for yourself or a corporation. It can help you get an edge on professional challenges, including:

• Obtaining your dream job
• Gaining exposure to potential clients or employers, or business contacts in the industry
• Trading up from one employer to another (even when the economy is bad)

When it comes to finding work, networking is one of the most productive things you can do. While job boards will only allow you to post your resume and hope for the best, networking allows you to meet and discuss your goals with many different people. Wouldn’t you sooner talk about work with a fellow business professional than over the dinner table?

Networking also offers benefits for your personal life. You probably already know how to network to make new friends, but that skill can also help you achieve your other goals. For example, if you want to start a family, get pregnant and raise children, you can use your connections to find playgroups, babysitters, and other people in the community who share common goals and interests.

Tips for Networking Success

Once you understand how important networking really is, the next step is to get started. Here are some tips and strategies to help you build a strong network:

• Participate in events that interest you and connect with as many people as you can. It’s important to meet new people and show genuine interest in them so that they want to help you out when the opportunity arises.
• Be smart about who you talk with – don’t just grab anyone’s business card because he or she works at a big company or owns their own business. Remember that networking is about making connections and finding people who can help you reach your goals.
• Be sure to follow up with your new contacts after any event – it only takes a few minutes to send an email, phone call, or letter the following week saying how much you enjoyed meeting him or her.
• Remember that people go to networking events to make more contacts and develop relationships – if they care about you, they will want to keep in touch with you as well.
• Try to meet new people in different ways. For example, you may want to network by joining a business networking group – but you could also join a sports team to meet people who are in your naturally competitive business. Or, instead of going to your university alumni association events, you could try to network through an alumni organization that focuses on your industry of choice.

What are Obstacles to Networks?

There are many challenges to building a network. Some of the most common challenges include:

• Not being clear about what you are looking for in a relationship and how you will benefit your contact. For example, do you want to get a job or learn more about a topic? Don’t be afraid to ask for favors – just make sure that you are offering something in return.
• Not asking your contacts for what you want directly. Instead, try to build your relationships gradually with others over time before bringing up any business-related topics, such as future job opportunities or client referrals.
• Not keeping your contact information up-to-date. Be sure to keep your profile on LinkedIn or another social network site updated with new information and new skills or projects you may have completed since you last connected with the person.
• Not following up with contacts when you’ve made a connection. A little bit of work goes a long way, so don’t be afraid to send an email to anyone whom you met at a networking event – even if it’s only to say hello and offer thanks for meeting them.
• Not having an online presence. If you don’t have a LinkedIn profile, create one. If you do have a LinkedIn profile, be sure to use it to its fullest advantage. You may also want to consider using other social networks like Facebook or Twitter to communicate with people who are important in your professional career.
• Not really being active in your chosen network. People may think they can just join a group, get their name out there, and expect that others will come knocking on their door – but that isn’t how real networking works.

Finally, some people find that networking makes them uncomfortable because they aren’t used to being around other professionals and building their connections.

Benefits – Why Is It Important for Executive Women to Have a Strong Network (Personally and Professionally)?

As women, we are socialized to value our relationships and connections with others by creating and maintaining lasting relationships. We are taught from birth to be in a relationship with another person, usually a man. The decisions we make as individuals within our relationships can have lasting effects on other people’s lives. Whether you are the head of the household or the woman working outside of the home, your interactions with others can make a significant difference in their lives. The ability to network is vital for both female executives and women at all different career levels.

When it comes to your business, building strong connections will help you meet new prospects and stay up-to-date on new technology that will lead to better results for your clientele or customers. Your network is your own support system, and you will be able to get the information you need directly from the source. You can tap into these people to get your name and business out there when you are starting or, conversely, when you have reached a point where word-of-mouth referrals are not generating enough new business to keep up with your success.

When it comes to your personal life, networking can help you with all aspects of your life. Building relationships, whether it is with a good friend or an executive at a large company, will help you make lasting connections that will last for years and offer support when needed.

Organizations have strengths and weaknesses and are affected by factors both internal and external to the organization itself. In terms of the organization’s internal structure, the way it is organized may inhibit or enable it to effectively respond to environmental factors. For example, in times of change, an organization with a functional organizational structure may be better able to react and adapt quickly because its functional areas can be separated and recombined. In contrast, an organization with a divisional-sized structure may find that its various departments cannot easily adapt to new external conditions.

10 Tips for Developing and Maintaining Effective Relationships and Networks

1. Practice the art of networking in a professional setting as well as in your personal life.
2. Develop a network of people who can be relied on to provide you with information and resources when you need them.
3. Be sure to develop and maintain quality relationships with all the people in your network: family, business associates, and acquaintances.
4. Call someone you have just met or just reconnected with to see how they are doing; ask them how they are, if they missed you at a function or event, etc.
5. Don’t be shy about telling people how you are doing and what you are working on.
6. Develop a special relationship with someone in the network to whom you can turn for assistance or advice where appropriate; find a person who is willing to act as a “go-to” person for you and would be happy to assist, advise or even share suggestions or ideas.
7. Be sure not to impose on your contacts or make them feel obligated to help you: it’s only polite. If they don’t want to, that is fine with you – just let them know that it was their choice in the first place!
8. Don’t be afraid to ask others for help, especially if you can’t think of a way to do something yourself: you never know who might have some great ideas!
9. Be sure to thank your contacts and connections for their help; it boosts their morale and incentive to continue sharing information with you, which benefits all.
10. Don’t be afraid to ask your connections to help make introductions or help you find new contacts.

By following these tips and applying them to your real-life professional and personal networks, you will be able to develop and maintain a network that can provide you with insights, resources, ideas, and assistance in both the short-term and long-term.

Networking, in all its forms, is a valuable and important tool for every executive woman. The most effective way for executives to the network is to remember why they joined your current organization in the first place and build your relationships from that foundation. Build strong relationships with people who can help you with both personal and business goals; the more open people are in sharing the valuable information they have access to, the more likely they will be to provide a reference for you when you need it.

By building relationships that go beyond just having on-the-job social interactions, executives will find that they are able to grow their networks and create opportunities for themselves as well as communicate and collaborate with others within their companies or organizations.

Now What?

If you are one of millions of women who are torn between helping your parents and pursuing long-term business goals to support your family, feeling burnt out, unhealthy, stressed, overworked, overscheduled, running on empty, and putting everyone and everything else above your needs – you are not alone.

Here is my “Clarity, Confidence, and Certainty – 6 Steps To Calm the Chaos” guide. I hope that it gives you some useful tips on getting some balance.

Sending you positive thoughts for more clarity, confidence, and certainty.

Stacey.

P.S. If you want to learn more about how I help executive women successfully balance these responsibilities, excell at high-powered careers and build strong plans for wealth, life and career goals, schedule a complimentary Clarity Session.