FM Walsh & Associates Inc.

Making the Best Use of Your Networks

You’ve heard it before, and you’ll hear it again – successful leaders and business owners leverage their networks.  Imagine having a big network of resources to tap into, and knowing exactly who you need to talk to every time you need to get something done.  So how do you build your network if you aren’t already there? How about starting with the first step today – taking inventory.

Here is a quick example of a networking model that I like to use.  It consists of 3 categories:

• operational
• strategic
• personal growth

Operational networks are people who can help you get things done more efficiently in the running of your business operations.  They could be your employees, your suppliers, your IT support crew, your bookkeeper, etc.  These are the people that can work with you in your current role – they can help you run a smoother operation and make your business more efficient.

Strategic networks are people that make you think bigger.  They ask the tough questions – are you moving in the right direction, are you focusing on the right priorities, etc.  These could be your advisory board members, your mentors, or industry experts in your field of interest, or a seasoned business owner.  These are the people that work with you on looking at the future.

Personal networks are often neglected in business discussions, but they do form an important role for your business.  They are often safe places for you to develop personally, and give you perspectives beyond your industry or business interest.  These could be people in your personal communities, alumni groups, or other professional organizations.   They are the ones that give you breadth and perspectives beyond your current environment.

Now list who you know in each category, and see if the list lines up with your networking efforts and your business goals.  For example, if you are looking to grow your business in new ways, do you have the right strategic networks in place?  If not, are you actively building networks in that category?