Turn your network into net worth
The ultimate goal of networking is to interact with individuals who will help enhance your endeavours, says Pearl Maphumulo.
|||You have successfully registered that business, done the basic branding, pretty much have all your documents in check and have even gone the extra mile to print business cards.
So what now?
I’m sure that most of us have heard the saying, “your network is your net worth”. This is true, as a business person needs to be connected with other entrepreneurs, whether through business seminars, forums or even the most overlooked, social media. I have found that through my own personal journey pursuing business, social media have worked pretty well.
If you were to Google articles, tips and tricks on effective networking, you’d find a flood of “how to” remedies, but few, if any, mention the power of social media as a platform to grow your network.
Apart from the dictionary term we can all find on Wikipedia, it’s important to understand that the ultimate goal of networking is to draw and interact with individuals who will help enhance your endeavours; with statistics showing there are 1.49 billion users on Facebook, 304 million Twitter users and 364 million users of LinkedIn, all on a monthly basis, why would these be overlooked as possible platforms?
Many may say social media don’t have as much impact as personally meeting people. This is true for some, but many others have warmed up to the virtual world; in fact, most of the big opportunities that have come my way were through branding myself on social media and approaching certain individuals who I knew would refer back to my profiles to “check me out”. So I would always deliberately mention all my social media accounts.
I have been to countless networking gatherings and have met too many people to remember. I know that many who have met me have also forgotten me and have probably misplaced my business card. And I’ve made peace with the possibility that it’s now a coaster or gathering dust in a drawer.
When starting out in business, I read too many articles and listened to many individuals giving steps to effective networking, but I will tell you the real secret to turning a network into “net worth”. Simply put: build a relationship.
Let’s take as an example Nigerian billionaire Aliko Dangote, who many would see as a good contact. Now, imagine how many people send him emails or ask for his number to set up appointments because they have the world’s most brilliant idea for the Dangote Group?
The only way he could remember you is if the networking moved beyond just networking and you built a relationship.
One of the biggest mistakes we make is flooding our contacts with our hopes and dreams and how their money could help, without having found out what goals they have set, and seeing where your vision fits into theirs.
I believe highly in strategic networking where one strategically fits one’s plans into that of the investor. Being humble is key. Anyhow, it’s much more effective and grabs their attention better than selling your own idea to them.
And this very attention is just what you need to begin building that relationship. One needs to understand that when mingling with potential investors, you must come across as someone coming to give (value) and not take.
Happy networking!
* Pearl Maphumulo is a World Economic Forum Global shaper curator and business developer/manager.
THE STAR