Is my network, my net worth?

I've always been told that you always have to built your network. Because your network is also your net worth and like the saying goes, 'It's not what you know, but WHO you know'.

During my mid 20s, I've sort of pushed networking aside and really focused on the job at hand. To think about it, if you are working full time and trying to make a difference at work you'll probably put networking duties as the lowest priority. Yes, you'd probably go out on a Friday night to network socially but it's not something that I did actively with the hope to build my network = net worth.

So really, what is networking to me?

I'd like to term it as building professional relationships with people not only at your work place but also other professionals outside of your organization. Networking can be done over coffee, phone call, lunch/dinner or attending events.

In the past, it was easy to sort of measure your network. It's by looking at the size of your business card collection and it was a race to see who had more business card holders in the office. I still remember getting my personal assistant try to arrange the cards into different categories and it took her more than half a day to complete it.

I've asked myself why. Why is networking important, especially for those in a leadership position?

Ok. So I always look at this from two angles.

The 2 Angles

Internal networking - We are so fixated with building a network outside of our organization, we should always look at building a network within. I firmly believe that we should emphasis on building a solid working relationship in our workplace. It's easy when you are in a small organization, but once you go into a larger organization it becomes more difficult. Having a good grasp on organizational awareness helps you be on the pulse of what's happening within the organization and when you communicate with your peers, you communicate with intention and clear objectives. I mean, how many times have we said "that department has it easy, they don't really do anything....". That's of course a very bad example, but I've seen and heard it before.

External networking - It's about building a network of people who can bring value to you in terms of business, knowledge, passion and interest. Our lives are largely tied in to what we do, in our career. But your time in an organization is sometimes limited and you may probably move on. And when it's time to make a decision, those network that you have suddenly becomes super handy.

Also, for a generalist like me. The value of having others around me with different skill sets and knowledge, just helps me in a lot of way. I found that whenever I'm at a lost or in need of assistance, my network has helped me plenty. I mean, how many times have we shot out a question to a WhatsApp group when we are seeking a for a suggestion, quick answer to a burning question, or just crowd sourcing for an idea. And if you have built that sort of relationship with your network, most likely you will easily attain a quick response. Right?

SMART networking

Somehow these days, I've increased my network at an alarming rate and it all started during the pandemic. I remember back in the days where I was working in KL Central, and after work especially on Friday I'd go out to do some networking. Will pick a place to hang out and get a few friends who would also invite their own set friends or contacts to join in. And through that I managed to build my network. GREAT...so I thought. My networking session was active for 2 years or so, and I build a lot of good working relationships.

So when the pandemic came, the whole networking program was put to a stop. Virtual meets then became so prominent and despite the hesitation at first, slowly became the absolute norm. And guess what, these days a virtual meet is almost a precursor before even meeting someone in person. Is this bad? I don't think so, I think it's pretty cool because in the past when I met people face to face in the first instance, you might have met someone whom you would say 'meh' after the meet up. Now, virtual meets allow both parties to see if it's 'worthwhile' to invest in the relationship building indirectly.

So I am now on a baptism of fire - Lightning Networking

I've devised my own formula of networking and building valuable connections through virtual platforms. And it all originates from social media platforms. For me, the MULTIPLIER effect is of course, LinkedIn. I have complete access to a database of network whom I can reach out too, and also give them the opportunity to suss me out through my LinkedIn live events, virtual events that I host or through my posts/articles.

I mean, it makes complete sense right? If you want to connect with me, you'd probably want to know what I do, my values, my interests and passions etc. You can do that through FB/IG but LinkedIn is deeper, because it heavily relates to my own personal aspirations and career. More often than not, people are like me, they want to find those that can add value to them somehow or rather.

Letting it out

3 years ago, when it comes to networking, we'd have to brave ourselves to speak up, reach out and find a way on how to build that relationship. And when you are at a restaurant, sometimes it could be noisy and you just have to speak louder lol. It was the exchanging of business cards, dropping the occasional jokes (sometimes not occasional, just all the time), introducing team members or other friends, and agreeing to meet up again.

How has that changed now?

Like any normal networking session or when we want to build a new business relationship, it's all about finding similarities in passion, personality and values. So we can do that even before meeting up with our connections.

It's by putting ourselves out there by either reaching out through connections on LinkedIn, sharing your thoughts and ideas on a post or video, running a special virtual meet and invite people, or go live on social media to talk about what you do and much more. So at the very least, before you even meet your potential new network, they have a whole lot of information about you beforehand. And highly likely the person you meet, would be someone that could add value to you, or even the people you are meeting.

Ok. I know that, this doesn't replace the face to face meet up. I believe we still need it, but the through social media and virtual meetings, it just makes the whole process more precise and improved. It's like a filtering system that improves networking efficiency. Plus you can still have them connected to you on LinkedIn or FB, and don't have to meet up till we need to.

Network does help with net worth

I realized that in the past two years, I've amassed a new set of connections through LinkedIn and FB. And a lot of them it's either through me reaching out to them, or the other way around. I still will do the same, which is when I send out an invitation to connect, I actually write a message - just like if I'm meeting them face to face. That element should still be there.

And I realized that, through the new connections a whole lot of opportunity presented itself. It's really mind boggling at first, cause it gave me the chance to really build solid relationships that not only help build my own knowledge and expertise, but building my book of business. I think that's critical. Cause if you are just networking for the sake of networking, then perhaps the personal or business goal isn't that critical. For me, whilst I build that relationship, and if there's momentum and value, I think the business opportunity will definitely come.

Sometimes, through networking I am able to help out a client by connecting them to others whom may be of value, ie referrals. And trust me, I've been like a concierge the past few months pointing people to other connections whom I think could help our the person asking. Don't know, maybe that's me with my old General Manager hat on, always wanting to help and guide people.

So I do value networking, cause I truly believe that building your network does build your net worth. It may not just be about money, but the experience. Cause it makes it all worthwhile if your network sees value in making you their contact.

So, that's my take. Very rough, but I think it's something worth sharing.

So what do you guys think? Network = Net Worth?