1 Networking “Networking is our “link” to each other & the world.”

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Networking

“Networking is our “link” to each other & the world.”

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“Networking is making links from people we know to people they know, in an organized way, for specific purpose, while remaining committed to doing our part, expecting nothing in return.”

Donna Fisher & Sandy Vilas

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The Value of Networking

What is networking? (extends beyond job search)

Why should you network?Information (inside, non-published)

Exposure (tapping the hidden job market)

Contacts (building external resources)

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Networking is not…

• Selling• Using people strictly for

your gain• Coercing or manipulating

someone to do what you want

• Putting friends, neighbors, associates on the spot

• Badgering people about your business

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Common B-School Networking Abuses To Avoid

• Problematic Pacing

• Poor Planning and Organizing

• E-Mail Informality

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Networking Facts

• Referrals generate 80% more results than a cold call.

• Approximately 70% of all jobs found through networking

• Most people you meet have at least 250 contacts.

• Someone you want to meet is only 4-5 people away from you.

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It’s okay to ask for assistanceThis is an indication of:• Strong self-esteem

• Commitment to the goal rather than the ego

• Willingness & ability to learn from others

• Wisdom to be inclusive rather than exclusive

• Understanding of the power of interdependence

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The Gift of Networking“Networking is a universal principle

that is in motion around the world—it does not depend on age, education, financial status, career path, or geographic preference.”

“Available to anyone and everyone, at least to anyone who is willing to consistently and extensively contribute to people through the mutual sharing of resources.”

“Anything you can think of that you have accomplished includes other people.”

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Job Security

Networking = Job Security

“By learning to network effectively throughout your life, you will create your own “luck” that puts you “in the right place at the right time.”

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Reciprocate

Networking is a mind-set based on continuing, mutually beneficial relationships.

You have to give to get!

2-way street

Networking is using your using your connectionsconnections to make to make connections.connections.

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The Iceberg EffectTraditional methods

80% of job seekers see only 20% of available job

opportunities

Networking

20% of job seekers see 80% of below-surface hidden opportunities Hidden Opportunities

YOU want to be HERE

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Exercise: Network Diagram

Fill In

YOU

Friends

Family

Alumni

Professional Assoc.

School

Past Employers

COM Faculty

Mom/Dad

Brother/Sister

Aunt/Uncle

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Where to Network• School• Work • Houses of Worship • Community Centers • School/Kid Events • Professional Associations• Family Gatherings• Organization/Club Dinners• Neighborhood Gatherings• Shopping “You can Network EVERYWHERE & ALL THE TIME”

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The A, B, C’s of Networking

“C” Contacts

• Customers

• Check writers

• Hiring Managers

• Referral to other “C” contacts

B

C

A“A” Contacts

• Already Know You

• Instant Rapport

• Referral to “B” contacts

“B” Contacts

• Bridge People

• Referral to other “B” and “C” contacts

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The A, B, C’s of Networking

A2 A3

B B B B B

C

“C” Contacts

• Customers

• Check writers

• Hiring Managers

• Referral to other “C” contacts

B

C

A1“B” Contacts

• Bridge People

• Referral to other “B” and “C” contacts

“A” Contacts

• 1 - Already Know You (FFA)

• 2 – Have “connection”

• 3 – Common “FIR”

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Hidden Gems for your “A” List

• Hairdresser• Real Estate Broker• Professor• Accountant • Attorney • Clergy • Financial Advisor

• Massage Therapist• Dentist/Doctors• Chiropractor• Alumni groups • Kid connections• Colleagues

Friends/Family/Acquaintances

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Finding Contact Information

Lookup.com

Switchboard.com

Infospace.com

Bigyellow.com

Theultimates.com

555-1212.com

Smartpages.com

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Networking Effectiveness

The most effective networking occurs in this order:

• Individual meetings• In-person events, conferences, seminars,

etc... • Telephone conversations • Voice mail • Snail mail • E-mail

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RTPMarketplace Networking

Council for Entrepreneurial Development www.cednc.org Research Triangle Foundation www.rtp.org Research Triangle Regional Partnership www.research triangle.org N.C. Department of Commerce www.exportnc.com N.C. Electronics and Information Technology Association www.nceita.org N.C. Biotechnology Center www.ncbiotech.org/ Microelectronics Center of North Carolina www.mcnc.org Raleigh Chamber of Commerce

www.raleighchamber.org Durham Chamber of Commerce

www.durhamchamber.org Chapel Hill Chamber of Commerce

www.carolinachamber.org Cary Chamber of Commerce www.carychamber.org

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Networking Tools

• Business cards • A pen • Clothes with pockets• A conversation opener/generator• A prepared infomercial

– Keep it short– What you can do to meet their needs

• A firm handshake• Direct eye contact and a smile

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Networking Steps

• Secure the meeting or call - Phone, e-mail or letter

• Prepare your 30 second infomercial• Your name and a couple of sentences that establish rapport and provide

highlights about yourself. Include a hook. i.e.; John Smith our mutual acquaintance…., or "I read about your expansion into XYZ market.”

• Assess needs based on information • "What do you feel is the No. 1 challenge in this area?" and "How are you

handling this particular issue?" The responses open the door for you to share specific examples of successes that align your strengths with the identified needs.

• Reiterate mutual interest • Close by reiterating the mutual interest and clarifying follow-up steps. Say

thank you.

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Conversation Generators

“Relates to something you have in common with the other person.”

“You always have something in common with any person—you are at the same event, work in the same office, live in same city, shopping at same store, etc.”

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Conversation Generators“How did you get involved with the….Organization?”

“I hear the speaker for today is an expert on…”

“Can you tell me a little bit about this organization?”

“Is this your first time here? Let me introduce you to…”

“One of my colleagues told me that this seminar…”

“I am looking for…Can you help me?

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How to Work the Room

• If you are entering a room where you don't know anyone, pick a small group to join or someone standing on their own for starters

• Use a conversation starter to break the ice • Choose your message and your approach carefully• Treat the people you are networking with as your

mentor or counselor, they will be as helpful as they can

• Treat it as a process of gathering information and find enjoyment in it

“It is better to be interested than interesting”

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Networking Practice

• Divide into pairs; assign 1st “Networker”, assign 2nd as “Recruiter”

• “ Networker” does the following (2 min per networking meeting):– Introduce yourself using your 30-second commercial– State your connection– Ask at least two pertinent questions (Recruiter may

role-play answers)– Close the meeting with appropriate next steps– “Recruiter” offers feedback

• Move to next “recruiter“

Situation: You are meeting recruiters (not hiring managers) at a career fair. You highly suspect they may have positions for people with your skills, interests and experiences…but you don’t know for sure. Your objective is to introduce yourself, understand whether there may be a fit or not and to establish next steps.

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Keeping Track

“Choose a method that works best for YOU.”

• Sales software-ACT http://www.act.com/

• Linkedin.com

• Notebooks

• Rolodex Methods

• Ask others what they use

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Managing Your NetworkDevelop a system of organization

Contact

Name

AddressPhone

Email

Source of Referral

Date of Last Contact

Topics Discussed

Follow-Up Date

Next Steps

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Upcoming Networking Events• Information Sessions (check newsletter/website)

• MBA Alumni & Current Students– Vaughn Towers: 6:00-8:00pm (Oct. 9)

• Wachovia Lecture Series (4:30pm/Nelson Auditorium)– September 20, October17 and November 5

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Career Beam

• Search Strategy– Networking Preferences– Confidence Check– Network Generator– Networking Questions

Complete These Sections

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Resources

• Fisher, Donna & Vilas, Sandy (2000) Power Networking: 59 Secrets for Personal & Professional Success. Bard Press, TX

• http://www.mgt.ncsu.edu/pdfs/career_resources/Networking.pdf

• http://www.mgt.ncsu.edu/pdfs/career_resources/Etiquette.pdf