Statista estimates that business networking is a $2b+ per year industry in the US. The Harvard Business Review, The Wall Street Journal, and others have written about the benefits of networking groups. It sounds like a great thing to do; you pay a few bucks and commit to a meeting a month, and they will curate for you the perfect environment to create relationships that will bring you new business and great success.
Not so much. You can learn everything you need to know about organized networking reading The Onion:
Yes, I plagiarized the title because The Onion hit it right on the head. Networking events are forced and uncomfortable, and infrequently allow you to develop meaningful relationships that yield the promised results. It's true that some report a great experience with their networking group. For everyone who reports having a good experience, many more come home with little to show for their efforts. And for those who believe they are benefitting, could they be using the time and money in a more rewarding way? Typically, yes.
While network groups may not be a great idea, networking is a must. Building professional relationships is key to your success in any field, but it is vital in law practice. If you want to be a valued counsel, people need to know you and your work, want to work with you, and want to refer others to you.
How can you network successfully without the assistance of prepackaged networking groups?
-Work hard to maintain your current relationships. Breakfast, lunch, dinner, drinks, or even just a phone call; keeping in contact is key to maintaining relationships. During normal times I tell clients that they should be out to lunch every single day. Even during Covid, there are opportunities for personal connection; figure out the ones that work for you and start scheduling them.
-Be an excellent connection to have. Ask questions to learn how you might be helpful to your contacts, and then find ways to help them. Thankful people can do wonderful things for you, and others will notice that you watch out for your friends.
-Think long-term. Sure it would be nice to add Jeff Bezos and Tim Cook to your professional circle, but that is not realistic. Don't focus on making contacts with people who can help you today; instead, find intelligent people who understand relationships. They will elevate to positions that will be helpful to you down the road.
-Connect people that you think can help each other. Taking two friends out to lunch or drinks to connect can be a great help to others. Even if you are making email introductions to people, be sure that they are meaningful and follow up to make sure that they are connected.
-Branch out through the people you already know. It is OK to ask your contact to introduce you to people that might help you. Let people know what you are trying to accomplish and the kind of help you need, and you will be surprised how much assistance you will receive.
-Host events. Buy a few drinks or dinner, and you put yourself in a great position to set the tone, pick the attendees and shape the outcome of a relationship-building event. If you know your audience well, it doesn't have to be super corporate or very expensive- I have hosted a card game in a hotel suite with a professional poker player that was an out-of-the-park home run, for example.
Relationship building is not something you can buy; you must earn it. Be sure to put in the work, as it will be rewarding professionally and personally.
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David DePietto is the founder and CEO of NexFirm. He can be reached at ddepietto@nexfirm.com.
Credits:
Adobe Stocks