Networking beyond digital connections

In an increasingly complex, diverse and often faceless business environment, building relationships becomes more important than ever. Networking isn’t new ... but in a “VUCA” world it’s more important than ever.

VUCA stands for volatile, uncertain, complex and ambiguous and describes a business world that is constantly changing, one that depends on layers of factors and issues beyond any one area of expertise. Past successes are no longer adequate predictors of future success; old ways of operating fail; and constant innovation is key.

Business success today depends upon being responsive rather than reactive, open to information rather than locked into any one way of thinking, collaborative rather than autocratic.

There are many types of different networks: online and offline, industry associations and chambers of commerce, events and meetups. Online networks can offer you a worldwide platform, but physical meetings still matter. As Hubspot reports: nine in 10 people still say that small meetings are their favourite communication method; and nearly 100 per cent of people say face-to-face meetings are essential for long-term business relationships.

Business networking benefits include:

■ New clients: Meeting others can obviously lead to new customers, potential clients and referrals from those you connect with.

■ Potential partners: Networking can help you discover potential affiliates, partners and allies for future joint ventures.

■ Logistical help: People with more or different types of experience can help you to run your business more efficiently or connect you with vendors, suppliers and others that can improve your business functioning.

■ Leadership mentoring: A strong motivator for top leaders and influencers to network is the gratification they get from sharing their experience and knowledge. Altruism is a potent drive you can well benefit from.

■ Problem solving: It is part of human nature to help others and to problem solve. If you’re stuck, reaching out to others is a good way to begin a mutually beneficial relationship.

■ Keeping informed: The world moves far too fast to keep abreast of all the changes, innovations, regulations and happenings that can impact your business. Networking gives you eyes and ears.

■ New insights: Learning how others are running their businesses or hearing about innovative practices and inventions can spark “Aha” moments that can catapult your business into the future.

■ Visibility: Attending networking events builds your reputation and keeps you in the public eye, especially in terms of influencers, movers and shakers.

■ Confidence: The more you learn the more capable you become. The more people you know, the more resilient you become. The more you network the better you get at it.

The benefits of a strong network are exponential. There is real truth to the saying: “Your network is your net worth”.

Customers, referrals and leads are only the tip. The real value in building connections lies in inspiration and innovation and staying on top of changes within and across industries.

■ Oksana Tashakova is founder of Quid Pro Quo, a business networking platform.

By Oksana Tashakova