Network may be your net worth

As we go through different stages of our lives, we often meet new people and sometimes lose touch with some. We also get promoted to different levels within the organisation and it becomes more important to build relationships outside your department.

Building a meaningful network in 2024 isn’t just about gathering contacts; although that is a start - it’s about building on this and creating genuine, lasting connections that go beyond professional transactions.

“ It’s about fostering genuine, enduring connections that resonate with shared values and not simply who you know but how well you know them.” John Checa

"It’s important to expand your network outside your current employer. That can be hard, but it’s worth making the effort. An external network that knows you well, and understands what you do and the business outcomes you enable, can be invaluable in your next job search. They might need someone like you, or be able to introduce you to others in their network.

So much business is done through networking. That applies to job-hunting too. I’ve found several roles that way, and personal introductions are my first choice when I recruit others." Paul Meredith

This approach is especially valuable for someone who may be between roles or new to networking. Drawing on insights from experts in networking and relationship-building, here’s a guide to cultivating a network that’s more than just a list of business connections — it’s a circle of true supporters and friends.

For me the true test is to look at the inner core of your network so for example colleagues who have become friends - anyone you regularly socialize with and pick up the phone to.

1. Broaden Your Networking Horizons

• A strong network is not limited to people you meet at formal business events. It includes connections from all aspects of life, such as parents of your children’s friends, neighbours, and members of local clubs. These relationships can feel more relaxed, making it easier to build authentic connections even if you’re not currently employed.
• Example: A parent you regularly see at school functions may share similar goals or have overlapping professional interests. These everyday interactions often feel more genuine and can help form lasting bonds. It is interesting though that seems some people don’t really always understand people in their group’s professional interests or even interesting perhaps even famous connections.

2. Emphasize Value in Relationships, Not Job Titles

• Adam Grant, in Give and Take, highlights that valuable networks are built by those who focus on giving rather than taking. When you’re between roles, this approach becomes even more relevant. You may not have a current job title to offer, but offering to share insights, introduce contacts, or even listen can be invaluable.
• Practical Tip: At networking events, start conversations by asking about the other person’s goals or challenges and thinking about ways you could help, whether by sharing a resource or introducing them to someone in your network. Focusing on what you can contribute helps you build trust and credibility, regardless of your current role. Paying it forward.

3. Understand Cultural Approaches to Networking

• Cultural nuances can play a big role in how networks are built. In some Eastern cultures, building personal trust is more important than diving into business discussions immediately. For example, in Japan, business often comes after several meetings focused on personal connection. By contrast, many Western networking events may prioritize business introductions and transactional exchanges.
• Practical Tip: Consider meeting with people several times informally, discussing shared interests or life experiences, especially if they come from a culture that values personal connections. This approach builds trust over time, helping you form more meaningful connections.

4. Create Serendipity Moments: From Spontaneous Encounters to Virtual Introductions

• Some of the most valuable connections happen by chance, and these “serendipity moments” can be actively cultivated. This might mean taking walks through popular business districts in cities like London, attending local events, or even starting with a virtual connection and arranging to meet in person later. Walking the Streets: Physically being in key areas, like busy cafes or industry hubs, increases the chances of spontaneous encounters. When you’re between roles, these moments can be invaluable for meeting new contacts and making introductions in a casual setting. Virtual-First, Physical-Later: Start by connecting online, especially on platforms like LinkedIn. After a few conversations, suggest an in-person meet-up if you’re in the same city. Moving from virtual to in-person solidifies connections and creates more memorable interactions.
• Practical Tip: After making online connections, ask if they’d be open to meeting in person. Even a brief coffee chat can strengthen a digital connection and help you build rapport.

5. Find Value in Knowledge-Sharing Communities

• James Currier explains that communities thrive when participants actively share knowledge and insights. Joining online groups or discussion forums, particularly those focused on your industry or interests, is a great way to build a reputation for offering value, even if you don’t have a current business card to hand out.
• Practical Tip: Contribute your experience or ask thoughtful questions in forums or networking groups. Whether it’s online or in person, sharing what you know and engaging in conversations helps establish your presence and demonstrates that you have valuable insights, even if you’re between roles.

6. Nurture Consistent, Genuine Engagement

• Keith Ferrazzi advocates in Never Eat Alone for staying in touch consistently and being a source of support even when you don’t need anything. Regular engagement is especially important when you’re between roles, as it keeps your network active and reminds people of your presence and willingness to help.
• Practical Tip: Set aside time each week to follow up with contacts. This could mean sending a quick email, congratulating them on recent achievements, or sharing an article they might find interesting. These small gestures build goodwill over time, making you a memorable connection.

7. Create Shared Experiences for Stronger Bonds

• Meaningful experiences create stronger connections. Reid Hoffman and Ben Casnocha discuss how working on projects together or participating in casual group activities can turn acquaintances into friends. Being between roles can make it easier to participate in group events, as you may have more flexibility.
• Practical Tip: Invite a small group of connections to a local event or organize an outing, such as a coffee chat or a volunteering day. These shared experiences build camaraderie and provide a foundation for deeper friendships.

8. Use Technology to Sustain, Not Just Start, Relationships

• Social media and messaging apps allow you to keep in touch with connections, even if you’re not meeting them regularly in person. Robin Dunbar’s research suggests we have a cognitive limit to the number of meaningful relationships we can maintain, so use technology to nurture key relationships thoughtfully rather than trying to keep up with everyone.
• Practical Tip: Focus on quality over quantity. Use LinkedIn, for example, to congratulate people on achievements or share relevant insights. A few meaningful interactions often lead to stronger bonds than frequent but superficial touchpoints.

9. Build a “Small Circle” of Trusted Contacts

• While a broad network is helpful, it’s valuable to develop a small core group of contacts you trust deeply. This smaller group can provide advice, support, and introductions that make a real difference, especially if you’re exploring new roles or fields. The picture is of John Checa Paul Meredith Dan Partridge and I at a Tech event. We have shared advice along with Wil Suthers and Dudley Peacock on a regular basis.
• Practical Tip: Identify a few people in your network with whom you have a genuine connection and make an effort to check in with them regularly. These deeper relationships offer more stability and mutual support than a wider but shallower network.

10. Navigating Events that Ask for Business Information

• Many networking events ask for a business email or current role, which can feel awkward if you’re in between roles. Instead of focusing on the lack of a title, reframe your introduction by emphasizing your skills, experience, or unique insights.
• Example: When asked, introduce yourself based on your expertise — “I specialize in financial strategy and growth for mid-sized companies” — rather than simply stating you’re between jobs. This shifts the focus from your employment status to the value you bring.

LinkedIn

LinkedIn has some neat features but suggest perhaps looking at other algorithms from similar businesses could help further – perhaps like a dating app. Feature development could include:

11. Matching on Compatibility of shared goals  - matching professionals based on shared business goals, industry experience so for instance rather than recommending a CFO talks to another CFO it could focus more on a founder or CEO seeking financial guidance or investors.

12. Data-Driven Personalization  - improved tailored experiences based on previous experience and skills to match with relevant business partners, advisors or mentors.

13. Proximity-based connections  - while we may most often work and therefore set our location in the City it is helpful to understand where we travel from and open up further opportunities for face-to-face meetings and serendipity moments.

14. Behavioural analysis – could use the information about who has engaged with your content or users to improve success for stronger relationships

15. Events – could recommend relevant industry events, meet-ups to develop more in-person opportunities.

16. Compatibility scoring for long-term connections – could this really work? Some people on paper who seem the least compatible forge long term connections. They provide balance. There may however be a common thread though perhaps communication style, growth ambitions or culture.

The Gold

Relationships like a sales funnel go through various stages of evolution. Transactional activities may not evolve into relationships – this can often be seen in an “agent” type activity.

Its only where there are relationships based on trust, purpose, values and shared relatable experiences that you have taken it to the gold level.

The borders between personal and work relationships get very grey. Colleagues become friends and vice versa and those relationships endure as Dr. Vince Tallent BA(Hons), FCMA, CGMA, MBA and Peter Harkin MBA would testify.

Final thoughts

Building a strong, supportive network in 2024 means going beyond traditional business contacts and embracing connections from all areas of life. By focusing on authentic value, creating serendipity moments, and fostering shared experiences, you can build a network that feels like a circle of friends. The borders between work and friendship become grey.

This approach is especially effective for those between roles, as it enables you to demonstrate your skills, offer support, and stay connected in ways that feel genuine and lasting. A diverse, well-rounded network will be there to support you, whether you’re between roles or at the height of your career. Both could be within a short time of each other.

The days of a structured and linear career path are less common. We need to stay curious, speak to many and find enjoyment along the way adding value to our and our networks net worth.

Feel free to reach me on LinkedIn or [email protected] and lets see where this journey goes.

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