We explain what networking is in business, what it’s used for, and what types exist. We also tell you how to network. Please read other MTV articles for more information. If you share it, it will be of little help to us.
What is networking?
In the professional and business world, networking refers to the practice of making contacts, that is, meeting other professionals and entrepreneurs with a view to future and potential investment and job opportunities. Other terms are also commonly used for this same activity, such as relationship marketing, business networks, or work networks.
The idea of networking is to expand professional networks (hence its name: net, “network,” and work, “work”), to gain acquaintances and potential strategic allies. To this end, entrepreneurs and professionals often meet at networking meetings, the purpose of which is to enable and facilitate social relationships between interested parties and to enhance the exchange of contact information, advice, and mentorship.
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Nowadays, it is possible to network digitally, thanks to applications and social networks dedicated to the professional field, such as LinkedIn and even Twitter.
What is networking for?
Most professionals and entrepreneurs agree on the importance of networking as a source of potential allies, employees or employers, and potential partners. This is because having a vast work network translates into greater strategic opportunities, a greater presence in the professional arena, and a more direct channel of communication between professionals.
Regarding specific purposes, networking can be used to:
- Find partners, investors, or employees for your business.
- Meet other professionals in the field and receive advice, news, and stay up-to-date on the topic of interest.
- Meet potential employers or receive mentorship from more experienced professionals.
- Establish connections with potential competitors that lead to strategic alliances.
Types of Networking
There are three types of networking:
Personal Networking
This is networking that an individual does on their own, outside of their current job, and is based on their social and interpersonal relationships. For an individual with a vast personal network, it will be easier to change jobs, start their own business, or obtain advice.
Strategic Networking
This is networking that professionals within a company or organization do, either with equivalents in other companies (horizontal networking) or with professionals in positions of authority (vertical networking), who are looking for opportunities for future professional development.
Operational Networking
This networking is used by a company’s employees to exchange knowledge and experience, increase their value to the company, and address its challenges from new and more efficient perspectives.
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How to network?
There are many different ways to network. Some of the main ones include:
Boosting your personal brand
To develop a more visible presence in the professional arena and promote your work beyond the office, you can print business cards, open and update profiles on work-related social media, or show up at events related to your area of work.
Developing social skills
To expand your contacts, it’s essential to meet new people, and to do so, you must socialize: attend after-office gatherings, participate in forums, and presentations. Knowing how to listen, communicate, and a good dose of leadership are key in this regard.
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Always be prepared
Opportunities should always be seized, and to do so, it’s essential to put in some personal effort: reflect on short- and medium-term goals, prepare an “elevator pitch” (a brief personal presentation) in advance, and always be clear about what you’re looking for at an event. Clear ideas allow for coordinated actions.
Continuously Update Your Network of Contacts
Whether it’s a digital portal or an analog address book, it’s important to stay up-to-date with your contacts. This means updating phone numbers, knowing where your contacts are, and staying on top of their achievements, movements, and initiatives.
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Be Generous When Appropriate
Humans tend to reciprocate affection and social relationships, which is why we generally respond with gratitude to the generosity of others. Having a grateful contact can make the difference when it comes to discovering an opportunity in time. That’s why it’s important to be generous with the information you share.
Join Networking Clubs
There are numerous organizations dedicated to networking among professionals and entrepreneurs. A quick search can update us on which are the most well-known in our area and which are most suitable for our professional profile.
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References
All the information we offer is supported by authoritative and up-to-date bibliographic sources, which ensure reliable content in line with our editorial principles.
- Networking on Wikipedia.
- What is Networking? on the European Postgraduate Centre (CEUPE).
- What is Networking and Why Do You Need to Do It? on the Columbia University Center for Career Education (USA).
- Networking Definition, Concept, Purpose, Types – concepto.de
