⚡ Get All Content for 20% Off ⚡

How a Networking System Can Help Save Time -- And Get More Results To get more out of networking, consider tracking your efforts. Learn how a simple system can make a big difference.

By Ivan Misner

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

How a Networking System Can Help Save Time And Get More Results

The old saying that we "treasure what we measure" -- and vice versa -- turns out to be highly relevant in networking.

In a survey I conducted of 12,000 people, most of the respondents who credit networking for some of their success said they maintain a system for measuring the dollar value of their networking activity. Conversely, most of the respondents who said that networking played no role in their success had no system for tracking any monetary gains from their participation in networking groups.

Related: To Develop Your Network, Target Your Market

The survey asked about using systems in multiple ways:

  • Do you track the business you get from networking?
  • Do you have a systematic approach to following up with people?
  • Do you have a systematic approach to staying in contact with people?
  • Do you have a system to track the money you make?

In each case, people who used systems generated more business. This clearly indicates a correlation between implementing systems and getting results. The more systematic you learn to make your networking, the more productive you can be.

In a world where the news media regularly reports the latest sports scores, stock market numbers and the weekend's top-grossing films, wouldn't you think business networkers would just naturally track how much they're getting from their efforts? Yet in the survey, more respondents said they did not have a system than said they did. And more women than men said they didn't have a tracking system.

While systems for following up, staying in touch and tracking results are key to networking success for both men and women, they're especially vital for women. Because of family and other responsibilities, many women have fewer hours to spend networking and need the productivity benefits of a system.

Related: The Esquire Guy's Rules for Small Talk (Video)

What should you track with your networking system?

  • The organizations you belong to and the results you are getting from them.
  • The time you spend networking and working your network.
  • The amount of money you've made from networking.
  • The people who are sending you referrals and how much of your income they're responsible for.

You also need systems for following up with the people you meet, staying in touch with your network members, rewarding your referral sources and helping your referral sources in return.

There are many ways business people reward those who send them referrals: A female consultant sends bouquets of flowers to men, an owner of a music store sends concert tickets, and a financial planner sends change purses and money clips.

Here is the key point: If you develop and use good systems, they will enable you to get better networking results in much less time and will free up more of your time for family and personal life. The upfront investment in developing and implementing your system will enable you to spend much less time going out to find new people for your network and more time working with contacts you've already established within your network.

Related: 7 Tips for Networking

Ivan Misner

Entrepreneur Leadership Network® VIP

Bestselling Author

Dr. Ivan Misner is a New York Times bestselling author and co-author of the bestselling book, Networking Like a Pro (Entrepreneur Press 2017). He is also the founder and chief visionary officer of BNI, the world's largest referral marketing and networking organization.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

The Remote Side Hustle a 43-Year-Old Musician Works on for 1 Hour a Day Earns Nearly $3,000 a Month: 'All From the Comfort of Home'

Sam Ziegler wanted to supplement his income as a professional drummer — then his tech skills and desire to help people came together.

Business News

Costco CFO Reveals Uncertain Fate of $1.50 Hot Dog and Soda Combo

CFO Richard Galanti reveals that the price will stay the same — but only "for a while."

Business News

The Most Unexpectedly Popular Side Hustle of the Decade Has Low Startup Costs and High Markups

A new report shows that vending machines are a popular investment — and the industry is set to grow up to $3 billion by 2031.

Marketing

Ever Wonder Why Certain Websites Rank Higher Than Yours? This SEO Expert Reveals The Secret to Dominating Search Results

It's often the smart use of SEO, now supercharged with AI, particularly in keyword optimization.

Business News

AI Is Impacting Jobs. Here Are the Gigs Affected the Most, According to an Analysis of 5 Million Upwork Postings

The researcher said in the report that freelance jobs were analyzed first because that market will likely see AI's immediate impact.

Leadership

Former Interrogator Shares 5 Behaviors Liars Exhibit and How to Handle Them

Five deceptive behaviors to look for and how to respond to those behaviors when you encounter them.