Quote from Ali Scarlett on January 19, 2024, 3:51 am

Continuing:

The Issue with Networking (Continued)

The Networking Disconnects

We briefly touched on the networking disconnect in one of my above posts.

It was the example of everyone showing up to an event to sell something and, therefore, no one wanting to buy.

The solution to that was fairly simple: avoid traditional networking mixers since that's where that issue is most likely to occur.

However, there's another networking disconnect:

People would prefer to connect with people they already share mutual connections or work experience with.

It's understandable from a psychology perspective:

• There's common ground: which is especially strong in the case of having mutual connections since that's also a form of social proof
• There's ingroup/outgroup favoritism: since there's common ground, they may see you as similar to them which can trigger an unconscious favoritism toward you

However, it's pointlessly detrimental from a networking perspective:

• You connect with people who have nothing new to share: if you're in the same industry with the same work experience
• You deny yourself potentially great opportunities that result from (serendipitous) networking: which is where some of the best opportunities can come from. (Many of the greatest wins in life aren't planned, whether it's that beautiful girl suddenly crossing your path that you've never met or an amazing opportunity coming from someone you didn't expect.)

And yet, since most people are unaware of these networking pitfalls and their unconscious biases, they'll end up turning away people who reach out to them they feel they have little in common with.

That means that more than a few of your reach-out attempts will go largely ignored, especially on a platform where connection requests are more abundant than water, such as LinkedIn.

The Networking Limitations

There are both too few ways to network and too many.

Here's what I mean.

Fundamentally speaking, there are only three core ways to get a better network:

1. Network more often: more consistency opens more opportunities for exchanging value with others
2. Improve your networking approach: maybe your networking skills need to improve to get better results
3. Change your networking approach: maybe you shouldn't be doing reach-outs via LinkedIn and email, but hosting events or content networking

The issues with these three are:

1. Most people don't network often: so when you do the work of networking, you're networking with people who can't make good introductions for you (and may not even have a network themselves)
2. Most people have poor networking skills: see the first post in this thread
3. Most people don't know how to change their networking approach: whether it's making the change or deciding what to change over to

That third point is especially important because it's where we run into the issue of networking opening up into a multitude of possibilities:

Most people:

• Don't know about all of these possibilities
• Even if they did, don't know which one to pick
• Even if they did, don't know how to switch over to the one they pick

And that leaves us back at square one, networking with people who don't know how to network and have little value to add.

The Solution

In addition to the solutions we've already covered, the main solution is this:

Develop a high NQ

We could call it your "Networking Quotient." Develop a high "networking intelligence."

Once you understand networking better and combine it with solid power dynamics, you can position yourself as someone others want to connect with and most of the above issues go away.

Examples:

• Reach out to people with WIIFT in mind: that way, even if you both have nothing in common that you know of yet, they still have an incentive to accept your connection request and/or meet with you. Then, over that meeting, you can get to know each other better and build rapport.
• Network often anyway: so you can increase your opportunities to build your own network and go into rooms with more value to give than most of the other people there.
• Continue improving your networking skills: this points back to "becoming a competent networker anyway."
• Test different networking methods: then settle on the one that you find works best for you.

The Issue with Networking Groups

There are a few different types of networking groups, but let's focus on discussing the main two.

For professionals, there are job search networking groups; for businesses, there are referral networking groups.

Now, I can't speak for all the job search networking groups out there, but I can talk about the idea. The main issue with the concept of these types of groups is that:

• The career development resources are probably better than the people: since you're in a room of job seekers networking with other job seekers, none of whom have any real incentive to help anyone but themself (and who likely didn't join to volunteer to help others—they came for a job opportunity, not charity work).
• You're limited by the size of the group: if that's the only place you do your networking for a new/better job.

This also happens to be the main issue with referral networking groups:

• The top 20% of businesspeople get 80% of the referrals: even if there is an incentive program in place by the organization hosting the group. And when you're just starting out, it's hard to get into that top 20% without losing a lot of time and energy first.
• You're limited by the size of the group: if that's the only place you do your networking for receiving deals and referrals.

A brief snippet from the book, Masters of Networking:

Linda Macedonio: "When I was first introduced to networking, I had no idea how to do it. What interested me was the idea of forming relationships with other businesspeople and getting business through referrals. The good news: No more cold calls!

The bad news: Being basically a shy person, I didn't realize that I had to learn how to initiate contacts with strangers. I thought that by simply showing up at networking events, I was networking. The problem was that I was talking to the same people each month."

The small size of most referral networking groups is a bigger issue than most authors like to admit because many of them are writing books that market and promote their own "pay to join" groups.

Now, in a way, it can be an advantage that these groups are kept small for the businesspeople who join:

• If it provides "business exclusivity": for example, if a networking organization has multiple chapters (groups), only allowing one accountant per chapter to avoid internal competition with group members who offer the same service.
• If it allows you to be more visible in the group: which is often done by giving everyone the chance to present a brief 40-60-second commercial to the group each week.

BUT, if no one in the group is a fit for your offer, then you have to rely on them bringing you referrals from people they know.

And if most of the group is showing up just to wait for someone else to bring them business (and doesn't help you get any), then the referral group doesn't work for anyone there.

You need to be able to speak to more people so you're not relying on referrals from people who may not care to seek them out to give to you.

The Solution

Here are the main ones, in addition to developing your social, networking, and power skills:

Join Multiple Groups

I recommend joining at least three, so you have a broader pool of people to work with and receive value from (with the caveat that you should always do you due diligence to make sure the groups are good).

Network Outside the Groups

Don't rely on other people for your goals, take responsibility for your own career/business.

Quote from John Freeman on January 20, 2024, 8:55 am

Hello Ali,

I like (hope it's not a judge one, could you please tell me how to formulate it otherwise):

The graphics, very professional, clear, color on point, easy to read.

The new developments in the thinking around networking

The NQ concept: I feel you're starting to create your own concepts like Lucio did (the judge, etc.). I think this is helpful as you identified a "meta-skill" (like leadership is) made of several skills. So I think now the next step would be to identify the core skills to have a high NQ (if not already done).

The solution: makes sense. I think something that is to be solved for is for busy professionals. In my personal situation (healthcare professional), I still don't see (my responsibility) how networking in networking events could benefit me. So my question as a potential customer would be: is it for me? Who is networking for? If yes, how to do it in my personal case? So maybe, a plan based on one's situation and level, like learning tracks:

• Beginner entrepreneur: describing what it means for each category
• Intermediate entrepreneur:
• Advanced entrepreneur
• Student
• Beginner employee: then breaking down according to fields and what's the best ROI for each professions. For instance: for doctors it's professional/scientific conferences I think. Also at lunch at the hospital. Also I think considering when meeting randomly people from your field (I met an ex-colleague in the train and reinforced our relationship)
• Intermediate employee
• Advanced employee

So maybe networking events are for entrepreneurs only, I don't know. If not for who?

So basically maybe a plan for the most common situations so you can appeal to a larger crowd.

The idea would be to break down networking in: skills needed, target population and the according steps. Maybe also talk about Linked in. For instance:

Young professional in the service (as opposed to agriculture, industry) sector:

• Polish your LinkedIn profile: how
• Find conferences in your field: how
• Eat with people at the same or higher level at lunch: how
• When you meet randomly people from your field, network: how

Something like that and:

Young entrepreneur (is linked in as useful?):

• Find network events for entrepreneurs: how
• Meet people in your specific field: how
• When you meet randomly people from your field, network: how

Some ideas. Some you might have considered. Some you might have already implemented.

To be clear these are questions to consider, I don't expect an answer. I'm sure you understood. I think it's clear but written communication on forums being what it is I prefer to specify. At your service for more feed-back if you feel like it.

Cheers.