Keith Ferrazzi once said "The currency of real networking is not greed but generosity." Even in the current age of post-pandemic semi-separation that we still find ourselves in, networking is a fun and essential part of business at all levels. In the latest installment of Wharton’s incredible Nano-Tools for Leaders series, Marissa King, PhD and Professor of Management at Wharton has shifted the focus to the power of networking. In particular; networking with intention to shape your current group to unlock its potential.
Outside of peer advisory boards such as Vistage, current research shows that the vast majority rarely if ever works on our own networks. Shameless promotions aside, almost no one makes adjusting their personal network a priority. In most cases, however, these groups can have a profound effect on mentorship, promotions, pay, etc., so it seems like they are worth the investment. Here, King points out that less can be more. The quality of your connections far outweigh the quantity of numbers in that digital Rolodex.
The first step in making your network intentional is identifying the type of network you have:
Expansionists (larger groups, influential): create value by connecting contacts to one another, but are at risk of generosity burnout.
Brokers (diverse groups, collaborative): create value by building bridges between contacts that would not otherwise happen, but are at risk of having to mediate disagreements that may arise between very different industries.
Conveners (smaller, closed groups, supportive): create value by connecting only those they support and trust, but are at risk of becoming monotonous echo chambers.
Once you have identified which type of network you exist in, the next step is to consider that answer in relation to your current needs and career stage. Keep in mind these categories are by no means mutually exclusive. As King points out “you can call upon different parts of your network depending on the situation”, so combine them or switch fluidly between them as you see fit. Check out the full article here for a deeper dive and to read up on some real-world examples of how leaders put this nano tool into action.