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Hollywood producer Jerry Weintraub recently published a great memoir called When I Stop Talking, You'll Know I'm Dead that illustrates the power of the network. In it, he tells story after story about how a relationship, properly maintained, brought him further along in his business than anything else.
But people rarely tell you how to build a network, or how to maintain relationships, or what will matter on the way up. And they don't give you any shortcuts that you can follow, either. Me? I'm all about the shortcuts and the help.
Understand Dunbar's number
British anthropologist Robin Dunbar said you can maintain only 150 close social connections. This isn't a software limitation--it's a number culled from research that says we humans have a hard time keeping everyone top of mind. With technology, we are able to stretch that number, but it requires consideration and tuning to maintain your 150 and to grow.
The 150 people you spend most of your time communicating with are:
- Relatives
- Colleagues at the same company
- Customers or prospects served by that company
- Schoolmates from the good old days
- Geographic connections
It's easy to predict this, as most people network the same way. It's also a negative toward your potential future growth. Think about people who lost their jobs in the Detroit region. Relatives, colleagues, customers, schoolmates and geographic locals couldn't help one another, because they were all in the same boat. Let's fix that.
Be part of different 150s
There are many ways to consider whom you should stay in closest contact with. My take is that you should consider diversifying by location and by industry, for starters. One way to maintain a diverse and useful network is to branch out and then "feed" your network better. Let's start with expanding your network.
Pull out whatever you're using for contact management and look at the total sum of people you know how to reach. Can you find people via your networks who are in similar industries but different verticals? Maybe you sell houses. Find a real estate professional on the other side of the country, or maybe in another country. Start getting chummy.
Find people from different industries and connect. Our real estate professional could make friends in the local art community, then help artists place paintings in each house sold. Get the picture?
Deliver useful contact often
The best advice I can give you is to be helpful. There are two ways that I do this, and maybe you have others. First, I share useful information when I find it. If I see an article about the restaurant business, I send it to Joe Sorge in Milwaukee, who runs AJ Bombers and three other restaurants. If I've got something to share with Government 2.0 types, I'll tell Alex Howard, who covers the future of government for O'Reilly Media.
The second way I help is by connecting people together for business. Every time you can tell someone in your network that you have someone they should meet--and that meeting amounts to business value and/or money--it's a beautiful day for all. Be at the elbow of every deal.
Exercising our networks and connecting to important people are meant to be a part of our daily business rituals, not an add-on. It's work, but it's work that pays off.
This article was originally published in the October 2010 print edition of Entrepreneur with the headline: The Network Is Everything.
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Comments:
Yes, same here. It can be hard sometimes!
Business is relationships. I think Keith Ferrazzi's book "Never Eat Alone" states it best. Who you know is more important than what you know. Your network is your net worth. With technology you can expand your network, yet don't completely rely on it for virtual connections. Make sure you are meeting face to face, as referrals are always going to outweigh anything you can do online. I believe social media is a great thing, but have to admit as the generations get younger the "art of conversation" is being lost. It's time to invest in yourself and make sure you are brushing up on your people skills in order to move forward in life and in your career. http://growingforward.net
Be active in social networks and leave insightful comments on blogs, websites, articles, etc. Use the tools & resources that ARE available to you and DON'T let any disability get in your way!
They are great ideas. But, suppose you are someone, who for certain reasons (disability) has to work strictly online,then what do you do?
Thank you, Chris. As a talent agency, this gives us more ideas for reaching out and getting connected! Thank you! Obie
What a great article! This is helps out in a major way-- I think that people are constantly looking a starting point when building their network, and this article gives clear direction on that.
For those looking for more info about the "how to's" of networking, pick up a book called "Never Eat Alone" by Keith Ferrazzi. Another good on is "The Generosity Factor", by Ken Blanchard & S.Truett Cathy. Both are great books that will help you with networking and maintaining relationships for a better life.
I dont know how many times i'm reminding myself to stay connected; and be active in my current networks...thanks for yet another reminder!
I love how you started this article by talking about Hollywood. As a marketing consultant, I teach that marketing a business is a lot like promoting a movie. Very interesting article. Thanks, Bryant Jaquez www.geniusbusiness.com
My network of customers and referrals was my meal ticket in 1995-97, when I was selling in-home. The same worked when I needed my first real job. The same worked when I needed supplies and my supply Sgt. was holding them hostage. The same works today when I launch, need a favor, or want to offer a favor. Good stuff Chris.
Great article. I am personally beginning to experience how necessary a large, diverse network is. I really enjoy putting like-minded individuals in touch with each other and cultivating new relationships. In a world for everyone is out for themself, its good to be helpful to others. I still struggle with the frequency of contacts with my network. I am interested in ways to improve my communication. Check out out How To Make It Moments, a collection of resources and experiences of aspiring entrepreneurs and young professionals. www.howtomakeitmoments.com www.twitter.com/how2makeitmomnt
This is one of the most useful articles on this topic that I have read in a long time. Thank you Chris! These days people have 3 choices to improve their financial position - Start/build a traditional business, buy a franchise, or Build a Network. And Building a Network is so much easier with today's technology. Live With Intention, DrBillToth.com/blog
Chris, you take the phrase "think different" to a new level!
Chris, you take the phrase "think different" to a new level. I love this: "Our real estate professional could make friends in the local art community, then help artists place paintings in each house sold. Get the picture?" Thanks for helping us think different.... Best, Elaine