"The currency of real networking is not greed but generosity." -- Keith Ferrazzi
Subscribed
Networking is a crucial aspect of professional development, especially for supporters within a business environment. Supporters, whether they be employees, team members, or advisors, play an essential role in the success of an organization by connecting, sharing knowledge, and fostering relationships that benefit the company. The value of networking extends beyond mere personal advancement; it supports business growth, opens doors to new opportunities, and strengthens the organization's external presence. This article explores the benefits of networking in the business context, specifically for supporters, and offers actionable tips on how to network effectively.
Sources for this article:
Burt, R. S. (2000). The network structure of social capital. Research in Organizational Behavior, 22, 345-423.
Forret, M. L., & Dougherty, T. W. (2004). Networking behaviors and career outcomes: Differences for men and women? Journal of Organizational Behavior, 25(3), 419-437.
Higgins, M. C., & Kram, K. E. (2001). Reconceptualizing mentoring at work: A developmental network perspective. Academy of Management Review, 26(2), 264-288.
Ibarra, H., & Hunter, M. (2007). How leaders create and use networks. Harvard Business Review, 85(1), 40-47.
Mehra, A., Kilduff, M., & Brass, D. J. (2001). The social networks of high and low self-monitors: Implications for workplace performance. Administrative Science Quarterly, 46(1), 121-146.
As I attend the Association for the United States Army Annual Meeting this week, I am reminded of the network we have in the military. The meeting is three days of briefings, panels, and presentations from military, business, and contract personnel discussing all facets of military life. This year’s annual meeting focused on transforming for a complex world. Throughout the meeting, I bumped into people that I have served with, people that I heard of from respectable Soldiers, and even friends I made along my career.
In one of my encounters, I met up with a Soldier that worked for me and we discussed our new employment choices. We discussed ways to improve our business life and of course we laughed about what once was. Stories and merriment abound. It reminded me how important it is to network and how much we can benefit. It is more than just a morale boost, or bouncing ideas, but it is a connection that means everything to traveling through life. If you still don’t agree, let’s talk about the benefits.
Benefits of Networking for Supporters.
Increased Access to Resources and Opportunities
Networking enables supporters to access a wealth of resources, such as industry knowledge, partnerships, and new business opportunities. These connections often provide information about market trends, competitor activities, and upcoming innovations, helping to inform business strategies and decisions. Studies show that professionals who engage in networking are more likely to discover new career opportunities and industry trends earlier than those who do not (Forret & Dougherty, 2004). This early access to information can significantly enhance the performance of the business by keeping the team ahead of the curve.
Attending the annual meeting has opened many doors to possibilities that I have, or have not, even considered. I received several job offers, contract requests, and a lot of new ideas. I even ran into competitors to my business models, and contrary to what you might think, we were both more willing to share with each other than to cut each other out of the market. Networking at this annual meeting has generated a tremendous amount of opportunities. (Join up at ausa.org).
Conferences like these are one way to network and leverage external resources for problem-solving. There are many other ways to directly and indirectly use your network in this way. For instance, if an employee is faced with a technical challenge, they may reach out to someone in their network who has faced a similar issue. This collaborative approach not only solves immediate problems but also fosters long-term relationships that can be beneficial in future scenarios.
During one of my many run-ins with past Soldiers, we started discussing his product that he wants to sell to the Army. Throughout the conversation and reminiscing, we ended up discussing new strategies to get into the door. We hope that our discussions yield new ways to show the Army the importance of his system and possibly a contract. Setting his business up for a lucrative end. All beginning with us reaching out to each other and starting a conversations about tanks.
Enhanced Business Development and Collaboration
Networking is a vital tool for fostering collaborations and partnerships that support business development. When supporters engage with industry peers, they often share knowledge, best practices, and innovations. This can lead to collaborative projects or strategic partnerships that bring value to both parties. Networking also helps supporters understand the external business environment, including potential threats and opportunities, allowing them to adapt more effectively and contribute insights that support the company's strategic objectives.
I met a person who writes articles on military topics and publishes collective works for the military community. Although some of our articles overlap, much of it is military specific topics. He had several lessons learned on starting up his business that may help me. The best part of it all is that we can collaborate between each other and enrich each other's business. Improving and developing for the betterment of our employees.
This type of networking helps organizations remain visible in their industry. Supporters who engage in networking on behalf of their company contribute to the organization's reputation, helping to build trust and credibility. A strong network of supporters also enhances the organization’s access to talent, vendors, and even potential clients. I met people in all facets of life that I can support, hire, or collaborate on business aspects.
I was able to talk about my business and the articles I have written to many people at the annual meeting. I discussed opportunities to bounce ideas and enhance our writing with them. This will support building our reputations and improve my articles for you the reader. As the network benefits each other, we can even guest write or leave supportive comments. In the end is a collective work of writers and readers working to improve each other, my goal for The Davark Group.
Personal and Professional Growth
For supporters, networking serves as an avenue for personal and professional growth. Through networking, they are exposed to new ideas, mentorship opportunities, and diverse perspectives that contribute to their development. Mentorship and professional relationships gained through networking can offer valuable career guidance, foster skill development, and increase confidence in their roles within the organization (Higgins & Kram, 2001).
I met another officer I have served with who has built several successful companies. After talking about my goals he wanted to talk again and help me with my endeavors. Having the opportunity, even if it is just bouncing ideas off him, will lead to my development. I will be able to improve on leadership, business navigation, and avoid pitfalls that arise from any startup. His help will be beneficial to getting my businesses going.
Additionally, networking fosters self-awareness and emotional intelligence as supporters navigate diverse personalities and professional cultures. Learning how to build rapport, communicate effectively, and create meaningful professional relationships are crucial skills that enhance workplace dynamics and improve organizational success. When you are meeting different people from different cultures, you build a hard drive of acceptable behaviors.
The military has a strong culture and strict etiquette. Walking around as a civilian for the first time since I retired was awkward. There was a level of familiarity with meeting senior leaders and discussing certain topics, but I had to make a change on how I approached things. It took some work, but I was able to develop a way to discuss topics appropriately within this culture based on my status. This way in turn allowed me to have more conversations with people that may have not given me time when I was in the military. Learning to be more aware and how I can make it work for me to benefit everyone developed from this networking experience.
In much of the techniques that I worked on, learning to help others first was important to setting up that rapport. It does you no help to immediately talk about how they can help you. It is great to start with a reminiscing story or establish commonalities, but as you mold the conversation, start with how you can assist them in their endeavors. In some cases, just getting your foot in the door with fun conversation will take you farther in the future than trying to jump right into business. In the next section, we are going to analyze some networking techniques for our premium members. Join now to chat, discuss, and recommend topics you want to explore.
Leaders and Supporters is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
Subscribed
Continue reading this article in full at: https://open.substack.com/pub/thedavarkgroup/p/week-42-the-importance-of-supporters?r=385ucj&utm_campaign=post&utm_medium=web