professional networking key to business … networking – key to business procurement it ......
TRANSCRIPT
PRESENTATION BY:GIRISH NARANG
VICE PRESIDENT – LEGALMERGERS & ACQUISITIONS
RUIA GROUP
Professional Networking –Key to Business Procurement
Itʹs not what you know ‐ but who you know ‐ that makes the difference.
What is Networking?
In simple word ‐ ‘Interaction’Developing and maintaining contacts and personal connections with a variety of people who might be helpful to you and your careerImportant aspect of career management since it helps you keep abreast of:
Professional opportunitiesIndustry trendsSources of professional/ technical expertise that you can utilize
Why Network?
Just pretend that you are a businessman and you have an assignment for which you require a professional. Which of the following would you be most eager to meet and discuss the task:
(a)a person whose name is in Company’s database;(b)a person who has mailed you his credentials; or (c)a person recommended by one of your employees/ friendsNo doubt, you would choose the last person as he is the one you can trust upon. All the other applicants are unknowns.
The Wall Street Journal reported recently that 94 percent of successful job hunters claimed that networking had made all the difference for them.Sixty to 90 percent of jobs are found informally ‐ mainly through friends, relatives, and direct contacts.Mark S. Granovetter, a Harvard sociologist, reported to Forbes magazine that ʺinformal contactsʺ account for almost 75 percent of all successful job searches. Agencies find nine percent of new jobs for professional and technical people, and advertisements yield another 10 percent or so.
How Effective Is Networking?
Does It Works?
If you are wondering why a busy professional would take the time to meet you remember:(1) The average person enjoys helping others, and information and advice are free to give (even when jobs arenʹt); (2) People enjoy talking about themselves, their ideas, and their opinions (and do listen to them sincerely);(3) Every now and then, people enjoy a break in their daily routine; and finally, (4) Most people are not so busy that they donʹt have a free half hour sometime during a week.
Networking Essentials
The art of networking has several essential aspects:Meeting people who can be of help to youCollecting and updating contact info, like phone numbers and e‐mail addressesKeeping in regular contact with those in your networkThanking people for their helpHelping others when asked
Where can you Network?
Oh No, it’s not correct that you can network only in formal professional events. You can network while in:
1. Client Office2. Social gathering like marriage (but not your own)3. ICSI Events4. Over a phone call5. In a flight (one of my favourite)
Whom to Network with?
Friends, of course (what else they are for)Friend’s friendsFamilyNeighboursDistant relativesContacts in your client organizationsSeniors and subordinatesFellow Consultants & Advisors
At a Conference:‐ Come out of your comfort zone, don’t just stick to your friends
‐ You success in networking depends upon how many new contacts you make at a professional gathering
‐ Ensure that you meet the people whom you met earlier, so that they also remember you
‐ Talk about the topic after a session, or talk about the food while in the buffet queue
How to Network?
How to Network?
For a personal meeting:‐ Call/ email the person with a polite request for a meeting explaining the reason to meet
‐ If he tells to follow‐up later, make sure that you follow‐up on requested date
‐ Reach well before time at meeting place/ office‐ Be sure about what do you wish to talk to him about – at your stage it would be good to ask him how should and in what expertise should you move in your career
‐ Don’t take too much of his time, half an hour should be maximum unless he seems willing to discuss further
How to Network?
In a social gathering:‐ Approach the person whom you wish to network with and greet him with a hand shake
‐ Tell him briefly about you and let him know if you like something about him
‐ Talk about something relevant to the situation‐ Ask him for his business card and offer him yours in return‐ Thank him and leave with a smile – don’t stick for long if he seems to be busy with others
While Interacting
Get maximum information about the person if you have fixed a meeting with himDon’t be late for a meeting; if you are running late, inform the other person and apologize Let others speak, don’t just keep talkingEnsure that you have gained enough rapport before asking for a favourDon’t expect instant payoffs – networking is a seed which needs time to ripen
Online Networking
Online networking tools viz. LinkedIn and Emails are quite handy to initiate networking with someone.‐You can find how a person or someone in a specific organization is connected with you‐You can display your expertise and experience on your profile, so that other can know about you‐Many organizations/ search agencies look at the online profile of prospective candidate before calling him‐It’s a good tool to find friends and acquaintances whom you have lost contact with‐Ensure that you have a personalized email and preferably a website as well – it costs quite little but makes a big impact.
Online Networking…..Do’s & Don’ts
‐ Online networking tools must be used in a professional manner, so that it doesn’t seem as if you are spamming people
‐ The best way to connect with someone is to send an email, either simultaneously or before you send him the request for connecting
‐ While requesting to connect, ensure that you tell him why would you like to connect with him
‐ Remember that connecting online is a starting step of networking with the other person, not an end. Once you are connecting, you must keep in touch with your connections to maximize the benefits of networking
Where to start with?
Start with Conferences, Seminars, Business Chamber meetings, etc. to network with other professionals and busienssmenMake sure who are your neighbours, they might be working in good companiesKeep in touch with your relatives and family friendsKeep in touch with Council members and ICSI staffAnd remember, any person you meet in life can be of importance
