Growing Your Network Doesn't Have to be Hard - SWI #6

Read time: 3 mins

Here's a stat you should know:

85% of new opportunities come from your network.

If you want to accelerate your business, you need to maximise these opportunities.

But networking can be a waste of time if you don't do it well.

Today we're sharing our Network Equation to help you do it more strategically and effectively.

Let's get into it:

 

There are 3 key levers to be aware of when it comes to your network:

1. Size:  Having a network big enough to regularly identify new opportunities for you.
2. Quality:  Having people with influence or authority in the companies or field you want to grow in.
3. Connection: Having strong, supportive and mutually beneficial relationships, so that the people in your network care about and actively support you.
   
   

We like to think about it as the Network Equation:

LIKELIHOOD OF OPPORTUNITIES = SIZE * QUALITY * CONNECTION


You need to have all 3:

• Small size? You're limiting the opportunities your network can provide.
• Low quality? You have acquaintances that can't support your business goals.
• No connection? You haven't helped people care enough to go above and beyond to support you.
  
  

 HOW TO INCREASE YOUR OPPORTUNITIES USING THE NETWORK EQUATION

 

1. To grow the SIZE of your network

1. Take it seriously: Put in the time and schedule a weekly slot to focus on growing your network.
2. Find your tribe: We know it can be scary to engage new people. Joining groups with similar values and interests is a great way to start.
3. Leverage your existing network: Talk to people you already know about your goals and ask who they know that you should be connected with. Bonus: ask if they're willing to introduce you.
   
   

2. To improve the QUALITY of your network

1. Connect with people who are ahead of you: Reach out and ask to learn from people who have the success you want.
2. Get the right mentor and advocates: Ask someone in your company with influence and decision-making authority if they'd be willing to mentor you and advocate for you when opportunities arise.
3. Improve your access to the right people: Don't be afraid to ask for introductions to new people or sit in on meetings that you otherwise wouldn't be exposed to.
   
   

3. To CONNECT with those in your network

1. Always add value: Aim to support and help people in your network with no expectation of getting anything in return.
2. Go below the surface: Get to know people on a personal level by showing genuine interest in who they are and what they care about.
3. Be transparent: Don't operate with a hidden agenda. Be clear and direct about how you can help each other.

Bonus idea:

Most people don't worry about networking until they need or want a new job.

This is like trying to withdraw from an empty bank account if you haven't invested along the way.

You need to make sure the funds are there when you need them the most.

For the action-takers: 

1. Self-assess the health of your network using the equation above.
2. Schedule 15-20 minutes a week to build your network, so it's there when you really need it. 
3.    Learn how to network more effectively    at one of Steve's upcoming virtual round table events - there are 4 sessions to choose from next week only.
   
   

By attending, you'll learn to:

1. Maximise your network opportunities through the Network Equation
2. Start implementing right away with actionable tips and strategies
3. Increase your network immediately with likeminded attendees
   
   

To join, choose a session time that suits and we'll send you the details.

Thanks for reading!

Speak soon,

Lynne and Steve

TLDR 

• There are 3 levers to use your network to help accelerate your business: SIZE, QUALITY, & CONNECTION 
• Figure out which part of the equation needs focus on - this will change the tactics you use to grow and enhance your network.
• Don't wait to build your network - invest in it now so it's there for you when you need it.
•    Learn how to network more effectively    at an upcoming virtual round table event hosted by Steve.
  
  
  

When you're ready to accelerate your business, here's how to ask about working with us:

We offer coaching & mentoring to support leaders to build confidence and achieve their goals, and are developing business-building courses coming soon.

Find out more here.