As a business leader, you will have been told time and time again that networking is important, but a surprising number of people don’t understand just how valuable a professional network can be. The value of a professional network isn’t just about who you can call when you need advice, or who you’re going to stick with at industry events, it’s about who proactively thinks of you when business opportunities arise.
Understanding the Value of a Building a Professional Network
A high-value network can open doors to capital, partnerships, talent and influence, and it’s an excellent way to boost your credibility in new markets or industries. It’s also a way to gain access to industry insights from those who have faced similar challenges to you, giving you a better chance at overcoming hurdles. When you’re uncertain of how to grow your business or what your next steps should be, a high-value network can act as a sounding board, helping you to make the right decisions. Plus, it’s also a way to increase your industry visibility through word-of-mouth advocacy and referrals.
What Makes a Professional Connection Valuable?
It’s not uncommon for business leaders to view networking as a numbers game, assuming that the more contacts you have, the better. But, that’s not always the case. The most valuable business networks are not built on volume or the number of social media connections you have. It’s much more important to build a network based on mutual benefits, trust and credibility.
- Relevant Connections – The most valuable connections are those that align with your goals, values or future business plans. It doesn’t matter if someone isn’t in your industry, but there needs to be a shared interest or compatible partnership there, something that makes collaboration possible. Decide if the other person operates in a similar or complementary industry, and if working together is going to be more valuable than working alone.
- Trust and Credibility – Trust is key in high-value networking and without it, you’re unlikely to gain any referrals, insights or introductions that actually mean anything. Trust comes from consistency, integrity and a shared history, so prioritise being authentic and following through with the connections you make. If you say you’re going to do something, do it. Follow up after your initial meeting and reach out regularly to continually build a relationship.
- Two-Way Street – The best professional connections are not one-sided, so focus on networking on a two-way street. When both of you bring something to the table – such as strategic insight, influence, resources or unique access to a new market – the connection is likely to be stronger, longer lasting and more valuable for both of you. That doesn’t mean value is always exchanged equally or immediately, but there should be a balance over time.
- Intentional Connections – Valuable networking connections don’t happen by accident, they’re intentional. They’re built through intentional engagement, not mindless LinkedIn scrolling and quickly exchanging business cards. If someone is consistently showing up in your circle, sharing thoughtful input or creating meaningful interactions, they’re investing in the relationship, and you should do the same.
Strategies to Build and Sustain a High-Value Network
It’s one thing to know what makes a network valuable, it’s another thing to actually build one.
- Add Value to the Network – Networking isn’t all take, take, take. You need to provide value to others and show that you’re someone worth connecting with. You can do this by sharing a relevant article, giving feedback on a recent product launch, celebrating the wins of others and asking business leaders to collaborate.
- Bring Others Together – If you want to master the art of high-value networking, you need to bring other people together. This makes you a valuable person to network with, someone who facilitates growth and helps others, not someone who’s only networking to benefit themselves. You can do this by introducing people in your network who you think should know each other, and letting them know why they should connect.
- Quality Over Quantity – There’s no point in having a long list of contacts, as it’s unlikely that they’re all going to be beneficial to you. Instead, curate your network based on quality interactions, shared professional goals, and similar values. Focus on people who you want to stay consistently connected with and prioritise them.
- Attend High-Value Events – High-value networking doesn’t happen at generic networking events or as part of the day-to-day workplace, it happens at exclusive, industry-specific events, such as those hosted by The Directors Box. These events put you in the same place as other business leaders, industry experts and potential partnerships. These are the types of people you’ll want to connect with.
- Always Evolve – High-value networking isn’t a ‘one time’ thing, it’s something that you need to constantly work on, improve on and evolve at. Your network should change as your goals change, so take a look at your network network regularly and see if it still aligns with your professional journey.
The difference between a good network and a high-value one often comes down to where and how connections are made. High-value networking happens in curated spaces focused on relevance, trust and strategic alignment, which is where The Directors Box comes in.
By hosting exclusive, industry-specific events for business leaders, The Directors Box creates the ideal environment for building meaningful connections. If you’re ready to elevate your network, surround yourself with peers and access exciting business opportunities, speak to a member of the The Directors Box team.
