Building and maintaining a professional network is a fundamental component of successful business ownership. The stronger your connections, the more opportunities you create in key business drivers such as development, innovation, and strategic partnerships. However, the old methods of networking—attending generic events, amassing a vast LinkedIn network, or handing out business cards like candy—are no longer as effective as they once were. Today’s focus should be on quality over quantity. In this guide, we explore how to leverage your network in ways that create genuine, mutually beneficial relationships.
In short, your networking efforts should focus more on quality and be less dependent on quantity. If you are a business owner who feels empowered by those high connection totals, but who lacks actual dynamic relationships with anyone on that list, it is time to learn how to better leverage your network.
LinkedIn remains one of the most powerful platforms for business networking. It provides an opportunity to identify and connect with potential strategic partners, customers, and industry leaders. But simply having a robust LinkedIn profile and an impressive number of connections does not guarantee success. Research suggests that up to 70% of LinkedIn users are passive, meaning that while your network might look impressive on paper, most of those connections may not actively engage with your content or support your business endeavors.
The real question is: how do you transition from a large, passive contact list to an engaged, active network? Understanding this gap is the first step toward creating a dynamic network that actively contributes to your business growth.
The real value of your network lies in the engagement you cultivate with each connection. Here are several insights on how to transform your network into a powerful asset:
Bombarding your network with sales emails or promotional LinkedIn messages can do more harm than good. Instead, focus on building rapport and providing value.
When you share insightful content or offer assistance without an immediate return, you encourage reciprocity. This value-first approach fosters trust and long-term engagement.
So you have a terrific list of connections on LinkedIn. You have a drawer full of business cards from the last ten conventions and trade shows you attended. You know a lot of business owners who could potentially have a positive impact on your company. The big question is, how do you engage them in a meaningful and impactful way?
The following are seven wonderful ways to engage your current network, foster connection, and create quid pro quo opportunities:
Creating a dynamic network is an ongoing process that requires regular attention and effort. Here are some additional strategies to ensure your network remains vibrant and productive:
Schedule periodic calls or meetings with key contacts. These check-ins can be informal yet consistent, ensuring you stay updated on each other’s developments and can offer help when needed.
Be proactive in sharing articles, white papers, and resources that might interest your network. This not only positions you as a thought leader but also keeps your connections engaged and informed.
Consider joining or forming a peer advisory board. Unlike traditional networking groups, these boards consist of business owners and CEOs who support each other in their professional journeys. This format provides a more structured and reciprocal approach to leveraging your network.
Remember, connection is the key to successfully leveraging your network. Connection is also a foundational element of a TAB peer advisory board. While substantially different from a networking group, a TAB Board is a team of business owners and CEOs who elevate and support each other in their journeys to success.