Having a strategically planned professional network is vital to achieving career and company growth in an increasingly interconnected world. But when it comes to executive networking, quality surpasses quantity.
Regular networking is a key part of any top executive’s role, enabling you to gain new ideas, insights and opportunities through having an extensive contacts book.
However, my years of experience as a CEO, board member and sparring partner has taught me that the misconception that focusing on numbers of contacts, leads to time and money being invested with little impact.
What is strategic networking?
Strategic networking, opposed to regular networking, is more purpose-driven by cultivating strong relationships that can help you achieve your own professional and business goals.
A strategic professional network is therefore also one that helps keep you abreast of widespread developments, enabling you to stay ahead of the game and improve your competitiveness.
So, contrary to popular opinion, it is not necessary to maintain hundreds of contacts to achieve professional success. Instead, it is my firm belief that having several carefully-selected individuals is the secret to building an extremely effective and strategic network.
Here are the seven key individuals you should include:
1. The coach: the voice of reflection
Each of us experiences times in life when we feel uncertain or find ourselves in challenging decision-making situations. This is where the coach comes into play.
The coach is the person who assists you in critically reflecting on your thoughts and actions. They are an objective observer who can view your challenges from an external perspective, and helps you make clearer and more informed decisions.
In addition, a coach is someone who not only celebrates your successes but also views your failures as opportunities for growth. Through regular conversations and feedback sessions, you can accelerate your professional growth and continuously enhance your skills.
2. The mentor: who shares experiences
The mentor is someone who has already achieved the professional successes and societal recognition you aspire to. You can learn from their successes and mistakes.
A mentor offers trustworthy and personal guidance on your path to success. Through sharing their own knowledge and experiences, they provide valuable insights into best practices and proven strategies.
A mentor is more than just an advisor; they are a guide on your professional journey, who can help you set your goals and develop a clear strategy to achieve them.
3. The herald: offers credibility and reputation
The herald is your personal messenger who, due to their own well-regarded reputation, credibly conveys your messages and expertise within your target network. This can be particularly useful when trying to establish a presence in new industries or markets.
When the herald supports your name or ideas, it lends you significant credibility. Others are more willing to collaborate with you or invest in your vision when they know that your herald trusts you.
4. The mediator: the bridge to resources
A mediator is someone who possesses the necessary resources, contacts, and information you need to achieve your goals. This can include access to financing options, technical know-how and other key resources.
A mediator can also help forge strategic partnerships and identify business opportunities that you may otherwise overlook. They serve as your bridge to new opportunities and resources.
5. The industry insider: has knowledge and expertise
Up-to-date industry knowledge is crucial in today’s fast-paced business world. The industry insider has extensive practical experience and current information in the sectors critical to your professional success.
In addition to industry-specific knowledge, the insider can also impart the language and customs of the relevant industry. This is crucial for confidently navigating the wider industry terrain.
6. The visionary: provides new perspectives
The visionary plays a key role by inspiring you. They tell you what else is possible. They think ahead and encourage you to find new ways to solve your challenges through fresh perspectives.
The visionary is a creative thinker who helps you look beyond the obvious and develop innovative solutions, encouraging you to explore new ideas and take unconventional paths.
7. The trendsetter: always at the cutting edge
Staying up-to-date on trends and developments is invaluable to staying ahead of the game. The trendsetter is a trailblazer who is informed about the latest developments and trends in other relevant industries and sectors.
They can help you respond to trends early and seize opportunities emerging in new markets, with their understanding of the evolving landscape providing you with a competitive advantage.
Why quality matters for strategic networking
The importance of a well-cultivated strategic professional network of fellow executives should not be underestimated for its ability to significantly expand your professional opportunities and help you achieve your business goals.
However, you should focus on the quality of your relationships to open doors to new insights and the key domains of the economy and society that matter to you, instead of striving for hundreds of contacts.
The key individuals outlined above will significantly strengthen your network and offer you a broad range of resources, expertise and perspectives to drive your professional success.
Remember that your strategic network is not only about what you can receive from others, but also about what you can offer in return.
Invest time and energy in these relationships, and you will find that your strategic professional network not only grows but also increases in value – enabling both you and others within it to leverage opportunities and achieve your professional goals.
