4 Steps To Leverage Your Network To Build Your Business
You’ve probably heard the old adages: “your network is your net worth”, “you are the culmination of the five people you surround yourself with”, or “creating a board of directors will change your business”. While these may be cliché, I would not be where I am today without the network I intentionally built.
Over the past 5 years, my network has been integral to my success, and this didn’t happen by accident. If you’re a business owner who is looking to grow, you need a support system because it doesn’t happen alone. Here’s exactly how I built my network AND my net worth:
Audit Your Current Network
In order to build your network and grow your business, you need to assess your starting point. Get started by taking a ruthless look at your current company. When you’re looking at your current network, what do you notice about the type of relationships you’re nurturing? I like to think of the company I keep as social currency. If the only ‘currency’ you have with someone is shit-talking with them, that’s your (low) social currency. Use these questions to measure your current social currency:
Is it productive?
Is it about growth?
Is it caring?
Is it energizing or soul-draining?
Do these folks have the same lust for life and business as you?
Organize Your Contacts
Once you’ve assessed your current network, it’s time to get organized. If your current network consists of an ambiguous network of folks you’ve collected on LinkedIn, people you met once at a networking event and have totally forgotten about, and a few random high school friends, it’s time to get to work! Get your contacts all in one place by putting them into a spreadsheet. Here’s how I organize mine:
This spreadsheet is organized by the strength of each relationship. The strongest relationships are at the top, in the platinum category. The platinum contacts are my ‘unicorns’ because they are rare and magical - these are the people I trust with just about anything and they’re the first to get a call from me when I’m in a pinch. The next category is gold and the bottom is silver.
I recommend having at least 25 people on this list and if you’re like me, you’ll make it closer to 50. Now, you might be saying, ‘I don’t have that many people in my network!’. Make the spreadsheet anyway and use it to identify opportunities to connect. It’ll give you clarity about where to focus your energy so you’re connecting with people who are going to move the needle in your business.
Reach Out
Once you’ve identified the type of people you would like to connect with, it’s time to do the work. When I first started my jewelry company, MEND Jewelry, I contacted 4-5 people per day via email offering coffee and support. These were people in a variety of fields because I wanted to expand the business owners in my network. I can say hands-down, that this was the BEST thing I did to support my business’s growth. It was about accumulating great people. When you’ve taken the time to curate a successful support system, you find people really want to help you be successful, too.
Consistency is Key
Build some consistency to support your networking efforts. Review your top 25/50 spreadsheet quarterly and update it as needed. Nurture your network just like anything else in your business. Schedule meetings with your contacts regularly so you can stay connected and informed. Most importantly, you get what you give. If someone asks you for coffee, needs a referral, or wants some advice, help in any way you can.
You’ll know you’re doing this right when you’ve surrounded yourself with a network of people who challenge and encourage you. Make your business relationships mutually caring, or they won’t last. You are not going to get very far with networking if you’re only meeting with people because you want something from them. Ask how you can support them and be real about it! Networking is a two-way street, so even if you aren’t sure what you can offer someone, ask them. Make it clear you are here to support the people you connect with and your network will support YOU.
HI THERE, I’M JORDYN
Serial Entrepreneur | Speaker | Fractional COO
I’m on a mission to change the Fractional COO world by infusing a bold, honest, and fun approach into everything I do. When I’m not running my consulting business and other ventures in retail, I’m busy translating the hard-earned secrets I’ve learned into public knowledge. And I’m doing it to help fellow entrepreneurs and leaders save time and energy when it comes to creating a scalable and sustainable business. These juicy tell-alls are filled with anecdotes and actionable content, and come in the form of articles, keynotes, interviews, and podcasts. Because my goal as a speaker is inspire people to transform their businesses and lives.
