ASK THE COACH
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Keys to Successful Business Networking
By Dr. Ray Angelini
The Saratogian
February 3, 2004
Dear Dr. Ray,
I am starting a new business, and I have heard and read that networking is key to building business. I have already joined the chamber of commerce, and I am also considering joining a leads group. What else would you recommend?
— S.A. in Wilton
Dear S.A.,
Successful networking is about building relationships.
As in any relationship, it is far more important to give than to receive. Thus, your attitude toward your involvement in the chamber of commerce or the leads group will dramatically affect the success of your networking.
If your primary goal of building a network is to get something, you will fail miserably.
In order to be truly successful in your networking efforts, you must focus far more on giving rather than getting.
If you are committed to helping others achieve success, the results of your own networking efforts will be beyond anything you might imagine.
Building networks with this attitude paramount in your mind taps into what is referred to as the law of reciprocity.
Simply stated, the law of reciprocity says that the more we focus on giving to others without expectation of repayment, the more we ultimately gain. Reciprocity is a paradoxical concept, that is, the less we worry about what we will receive in return, the more we actually receive.
Successful people know how to tap into what is referred to as the "social capital" in their environments. Social capital refers to the networks we create and how we put them to use.
A growing body of research has shown that highly successful people achieve their success due to their ability to develop their existing social capital rather than their so-called "human capital."
Human capital refers to the knowledge, expertise, and experience we bring to a given situation.
Individuals who utilize their social capital effectively grow their businesses faster, get better jobs, higher pay and faster promotions. They also tend to be happier and more influential than those who rely solely on human capital to build success.
Thus, I would strongly recommend that you begin your networking efforts with an attitude focused on giving rather than getting.
If you do, your results will exceed your expectations, and the success you achieve will be magnified because you will have helped others succeed in the process.
