In business today, one of the keys to long-term success in pretty much any field is effective networking. You might be enjoying all the business you can handle for now, but you're bound to lose clients over time.
Competitors steal clients, technologies change, and just like that, a business can cease to exist. If you're not paying attention to networking on a constant basis, you're falling behind.
Executives and company owners that actively network their services aren't necessarily out of the woods either. All-too-common mistakes can deny you networking success.
The Seven Reasons Most People Fail at Networking
In many cases, professionals -- even successful ones -- fail miserably at networking because they don't really know what they're doing. They make this task an afterthought or a second priority rather than a primary one.
Sound familiar? If you're failing at networking, it's probably due to one of the following errors.
1. Making Assumptions
Do you assume you know everything there is to know about networking? This is a recipe for disaster, because the process is fluid. According to this article by JMC Academy, 80 percent of jobs in the western world are filled as a result of word-of-mouth networking, and only 20 percent are publicly advertised.
If you're assuming you'll hear about a specific job opportunity or opening when it becomes available, you're going to be too late. Most of us learn much of what we know from doing, not watching. Stop making assumptions about what it takes to succeed and start putting yourself out there.
The best clients, top jobs, and most prestigious positions aren't always going to broadcast their name to say they have a need. Instead, they'll be constantly looking for partners and peers who can recognize their needs and respond to them.
Assuming opportunities only exist when they're clearly on the table is a mistake, so force yourself to be proactive.
2. Not Having Specific Goals
Quick: What are your networking goals? Do you have a concrete answer with specific discussion points? Every individual needs these goals to be successful.
They'll differ from person to person depending on the stage of your career and how many duties you currently have on your plate, but you need to establish a couple of short-term and long-term targets. For example, a freelance designer's short-term networking goals might be to add two new clients this month after attending an expo in Los Angeles. His long-term goals may involve securing a full-time position with a reputable design agency downtown.
In this case, the short-term goals might change. If he successfully finds two new clients at the expo, his short-term goal may advance to upselling the clients into completely overhauling their company websites. But that has no effect on his long-term goals. He still wants to work for the design agency downtown someday, and his short-term goal will enable him to build his portfolio and experience: stepping stones for helping him get there.
When setting networking goals, many successful people like to follow the SMART model. This acronym stands for Specific-Measurable-Attainable-Relevant-Timely. Your goals should meet each of these criteria if you want to maximize your return.
3. Generalizing Everything
During the process of networking, you have to acknowledge that you're one of many out there. You're competing against dozens, even hundreds, of other people seeking to accomplish the same things as you.
This means you can't afford to generalize your efforts. The more specialized you can make yourself, the more you'll stand out. Contrary to popular belief, most businesses don't want to know how many different things you can do. Instead, they want to know what one or two things you can do well.
Specialization is an attractive trait; you'll go farther by honing your skills.
4. Failing to Carry Business Cards
Don't listen to people when they say business cards are irrelevant for modern networking. Just because LinkedIn exists doesn't mean you can forget about this classic networking tool.
Business cards are extremely valuable in a virtual world because they're tangible. Sure, you can tell someone, "Add me on LinkedIn," but will they remember your name? If they do remember, will they take the time to seek you out online?
"A business card saves you time and makes you look professional," says networking expert Patrick Allen. "You're not fumbling around with a pen to scribble your e-mail address on a cocktail napkin, and you also give them a sense that this isn't your first rodeo."
That last point is key. In a networking situation, you want people to know you've been around. There's nothing attractive about being a newcomer. While carrying a business card may not automatically make you a networking veteran, it will help you avoid looking like a rookie. Sometimes that may be the most important thing.
5. Lacking Personal Branding
Personal branding is a key factor in professional networking. In order to develop a personal brand, you need to understand clearly who you are, what value you bring to the table, and what sets you apart from your peers.
By grasping which values and skills distinguish you and your operation, you can approach people with confidence and say, "Here's what I'm known for and I can use it to help you succeed."
Your personal brand doesn't have to be recognizable, like a corporate brand in the consumer marketplace. You just need to know it exists. This enables you to control your interactions, set appropriate goals, and avoid compromising your values.
6. Trying to Oversell
There's something to be said for being aggressive and having a successful mindset, but you also don't want to oversell in a networking situation. This is especially true if you're trying to establish an initial connection.
Networking involves building mutually beneficial relationships over time that enable both parties to accomplish their particular goals. If all you're trying to do is close a sale or gain the upper hand, sooner or later the other party is going to sense your self-seeking drive.
It's okay to go into sales mode when you network, but you have to know when to dial it back. Once you've built a solid relationship, you can move ahead to close a sale or make a deal. Overselling at the beginning will more likely prevent you from landing this opportunity.
7. Making Connections without Following Up
Finally, you may be failing at professional networking because you make connections but fail to follow up. Everyone's made this mistake; it comes down to being lazy. You meet someone at an event, hit it off, talk business, exchange cards, and part ways. You leave feeling like you've made a good connection and let three days, a week, or a month go by. There's been no attempt to reconnect and you've essentially lost a potential lead.
This is an egregious error, because you had already established the connection. If you're lucky, you can make up for it by sending a short note in an email, making a brief phone call, or setting up a lunch meeting. Don't let laziness kill your networking efforts.
Make Professional Networking a Priority
If you want to succeed in both the short and long-term, networking has to be a priority. It's how you grow as a professional, find new opportunities, and expand your horizons.
And though you'll hear a lot about more specific things you can do to be a successful networker in your industry, much of it comes down to avoiding damaging mistakes. Keep the seven errors above in mind and you'll do just fine.