The cliché ‘it’s not what you know, but who you know,’ has been used for decades—perhaps far longer. We’ll never really know. But the idea is as universal and relevant as ever: With the right network, the opportunity for business growth, career advancement or personal achievement grows exponentially.

Leveraging our personal and professional networks has become more important throughout the pandemic. As everything from our regular supply chains and operating models to our ability to nurture in-person relationships have been (at least temporarily) disrupted due to COVID-19, business leaders have sought out alternative avenues to achieve their goals. Being able to contact people in the know for insights or strategic/tactical connections has been critical. Put simply, we can’t know everything. If we don’t have all the answers, finding the people who do—or who can point us in the direction of others who might—can mean the difference between success or failure.

Here’s a good example. Recently our team was in contact with a clothing manufacturer about expanding their brand across North America. Completely unrelated, the client mentioned that they wanted to shift the sourcing of key products from Asia to a different country of origin due to the high cost of moving freight from the Far East, namely shipping and tariff costs. That includes skyrocketing container prices that are making manufacturing in Asia far more expensive than in the past. In fact, it can now cost virtually the same to produce garments in the West as in markets such as China or Vietnam. The challenge: most brands have longstanding production relationships in Asia, but not in Europe or North America.

The client explained that they wanted to explore making their goods elsewhere, for fear of winding up with a backlog of orders that—even when manufacturing could be completed—were likely to be stuck in a west coast port awaiting distribution across the U.S. thanks to ongoing supply chain snarls. Based on our in-house experience, we understood that garment manufacturers in Europe are very efficient at landing goods and processing them through U.S. customs. We were able to connect the client to a few key contacts in Europe through our global production and product development service. In the end, the timing wasn’t right for the company to incur the costs necessary to re-establish their manufacturing country of origin. But they are planning to explore that opportunity in future.

The takeaway: networking is about having worthwhile conversations. It’s about talking to contacts, clients and business partners (existing or prospective) about their opportunities and challenges and offering to help however possible. But as a process, networking requires attention to detail.

Taking the time to listen

One of the most valuable lessons I learned over my time as a business leader at Bloomingdale’s was the power of having engaged conversations. Not scrolling through email or surfing the day’s news headlines as my team expressed their concerns or shared key performance metrics, but being engaged and really listening to what they had to say. That meant probing to find more information when necessary, asking why—or why not—and making sure they understood that I respected their expertise and their time. I wasn’t always good at it. Purposeful listening was a learned skill that took years to hone. When I did, I became a far better manager.

Similarly, effective networking with contacts means setting aside blocks of time to explore the goings on in their lives and how you might be able to work together. Sometimes it might just mean catching up and sharing pleasantries. At others, you could break bread (maybe virtually) and talk business, but never sign on the dotted line. By listening and learning about each other, you set the stage to build a stronger relationship over time that has the potential to lead to other engagements that might generate new personal or professional opportunities.

Give more than you receive

Generosity is essential to this process. Be prepared to give more information or ideas than you take when you network. Being the first one to offer to make introductions (when doing so makes sense) positions you as a helpful colleague. But remember, this isn’t about doing favours and then logging collegial debts to be paid back over time.

Just as conventional business-to-business advertising is now largely complemented (sometimes supplanted) by content marketing strategies that give insights away for free, you can take a similar approach. Freely share your insights and experiences. Inspire with your energy and encourage others to do the same. You’re playing a long-term networking game, so the object is to do good for those in your network rather than simply focusing on driving your own success.

Network with purpose

But you do want some success, too. That’s why it makes sense to network with those in your industry, along with individuals whose complementing experience and expertise can enhance yours. In the latter case, those individuals’ careers could be centred in a completely different sector and their personal interests could be drastically different from yours. That’s fine, because their diverse views and life experiences will help round out your perspectives.

Remember that networking groups can be beneficial if they’re comprised of individuals whose overarching goals are similar to yours. So, too, can engaging with your personal contacts on a more regular basis.

Lastly, be sure to specify objectives for your networking efforts and how achieving those targets will make you a better professional and a better person. Then hold yourself accountable. If you plan to contact 10 people a month, did you hit that target? Maybe the goal is to help five people by providing some kind of mentorship. Have you done it?

Your KPIs will be different than everyone else’s, but the benefits of networking will be similar—greater knowledge, better judgement and enhanced opportunity.

Scott Polworth, founder and principal, SFP Solutions

For strategic consulting assistance, contact a member of our team.