In a pair of articles on the importance of networking in business, The Harvard Review at once lauded the necessity of businesspeople to attend and actively participate in networking events to advance their personal and corporate standing. In one piece, 78% of entrepreneurs agreed networking activities are crucial for success. The number may even be higher.
But not all networking activities are necessarily done efficiently and, lets face it, some of us are just not as naturally skilled at working a room. As a result, despite the best intentions, business leaders – even the most gregarious — often leave opportunities on the table at networking events by a lack of strategy, misdirected energy and – of course – “stirring their drink in the corner of the room, chatting with someone they already know,” says business school professor David Burkus, author of “Friend of a Friend: Understanding the Hidden Networks That Can Transform Your Life and Your Career,” whose Harvard Business Review article, “Go Ahead, Skip that Networking Event,” cited exhaustive studies by the Columbia Business School that reinforced the belief that most business leaders fail to exit their comfort zones when faced with opportunities to meet potential clients and business partners at networking events. According to the results of these studies, while 95 percent of the executives attending such events expressed a desire to meet new people, the average participant spent half of their time with the one-third of the event participants they already knew.
Clearly, making the most of networking events calls for some added direction, strategy and goal setting.
And for even those who do push beyond the boundaries of their comfort zones, the process can be exhausting. In a second HBR article, “How to Keep Networking from Draining You,” it was suggested that meeting fewer people at such events can be the best means of optimizing your energy, as long as that smaller circle includes the right contacts. “Networking is often seen as a quantity game: The bigger your network is, the better off you are,” wrote article author Jordana Valencia. “But if you’re already exhausted, trying to network with every interesting person that comes your way can backfire professionally.”
A key piece of advice shared: Make use of a networking partner who is knowledgeable about both your business and the industry and set a strategy beforehand. “This means that you can expend less energy and talk to fewer people, but still gather a large number of contacts at the end of the night, thanks to your partner’s efforts,” according to HBR.
Kay Segal founded Business Accelerator Team in 2015 with an eye on providing business solutions focused on accelerating revenue in the c-store, foodservice and B2B media industries. Kay’s vast industry experience stems from a variety of roles at CSP Information Group (now Winsight), Circle K Company, 7-Eleven, and Sky Chefs, where her combined experiences positioned her to offer diverse industry insight and a unique niche of services that help clients bolster profitability.
