The Art and Science of Networking for Executives

Networking at the senior executive level is a lot about building the connections with the right people, at the right time, for the right reason. Whether you are a senior executive in transition or considering a new opportunity, a professional happily employed or consulting and looking for new partnerships and clients, or a recently re-employed businessperson after a challenging job search, it is increasingly more important for senior executives to build and nurture senior-level connections when considering your long-term career objectives and financial goals.

The thoughts and advice below were offered at the September 28 ExecuNet Silicon Valley meeting facilitated by FountainBlue CEO Linda Holroyd, with comments by Al Hulvey from Greetings Manager and the event participants.

Working Definition: Networking is: An Active process of building and managing productive relationships with all of your contacts (Professor Wayne E. Baker from his Networking Smart Book)

• Networking during transitions leads to:
• Paid better, promoted faster, new jobs quicker (Networking Smart, How to Build Relationships for Personal and Organizational Success, Wayne E. Baker)

http://ohcm.gsfc.nasa.gov/career/book05.htm, http://www.amazon.com/Networking-Smart-Relationships-Personal-Organizational/dp/0595007864

64% of jobs found by networking (Drake, Beam and Morin, http://www.DBMCareerServices.com)

68% startup money found by networking (same as above)

How is Networking Different for Executives?

• There are fewer events for executives only
• Successful executives have built a network for a lifetime; this could work for you, when someone favors you because of a relationship, or against you if someone else who may be less qualified gets chosen for a position because of a relationship
• More sense of reciprocity for executives
• Senior executives sometimes find it awkward to network with less junior people
• There are fewer executives in general.
• The executives are really busy and time is more valuable for them

Why is Networking for Executives More Important Now?

• The world is a more complex place. Having a extensive network helps busy executives better understand the trends and keep up with the times.
• The tenure for jobs is now 3.8 years, less for senior executives. This means that as many as 15% to 20% of qualified executives sit on the sidelines

The Art of Networking

• Everyone has his own style
• Reasons for a successful connection vary depending on who you’re working with
• Random chance is a factor
• Sometimes you find your connections in the strangest places!
  
• The Science of Networking
• Understanding your objectives and developing a plan will increase your probability of success
• The more you build your network, the more likely your network will continue to grow. The larger your network, the more likely you can leverage it to serve your needs, and that of others in your network
• The better you plan and prepare, the more likely you are to succeed

Five Keys to Executive Networking

1. Your Reputation Matters - Be professional, Be courteous and gracious, Be thankful, Be helpful
2. Know Your Objectives and Make a Plan to Achieve Them
3. Follow Through
4. Build on Successes. Networking is for life, not just for the objective you set for today
5. It’s Not All About You - Just as important as what’s in it for you is what’s in it for the other party