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TD Magazine Article

Master Your Networking Game

Use the CAPITAL system to get the job you want.

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Thu Aug 01 2019

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Companies fill as many as 85 percent of all jobs via networking. A 2016 LinkedIn survey reports that 70 percent of people were hired at a company where they had a connection. Those figures can be daunting for professionals who are trying to grow their careers or move up the ladder.

However, developing a system of outreach and regular connection that will last the length of your entire career is one of the most valuable things you can do. As an engineer and the founder of a company, I've used the power of my connections to grow my business, ask for help when needed, and take my career to the next level. Without the right relationships, I would not have become a chief technology officer of an enterprise software company, built a team, created a product, and been part of an acquisition soon after.

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Relationships are our most valuable assets, but maintaining them is a significant challenge. Although today's networking software can help, you also need a strategy to make sure you connect with people at the right time. As many professionals have experienced, opportunities can often fall through the cracks when they don't maintain relationships.

Human beings are social creatures, but they are also conditioned to distrust strangers. However, trust founded on common ground can serve as the glue that draws people together. People naturally tend to trust others who are recommended to them. In today's business climate, this is even more important.

The reputation advantage

People have three general advantages that are evaluated when they are looking for work: knowledge, skills, and reputation. In the past, having the appropriate knowledge was enough to get your resume noticed, but now that exponentially more information is available, this advantage is not enough. The skills advantage has also lost value because employers can find workers from anywhere in the world. But your reputation is uniquely yours and cannot be replaced easily. Your ability to build a deeper and more genuine relationship is your competitive advantage, differentiating yourself from others around you.

One of the most essential tips when looking for a job is to identify those you know in your profession or the field you're pursuing. These people can share advice, make introductions, and vouch for you when you need it most. However, most people don't know where to begin or how to elevate this process from being strictly transactional. I developed the CAPITAL approach to encourage professionals to be intentional about their business relationships. The system is designed to break down relationship marketing into seven key components: consistently execute, aggregate, prioritize, investigate, engage in a timely manner, add value, and leverage.

By building a system around those principles, you can dramatically increase how often and successfully you connect with the people who are most likely to provide the greatest benefit in your career development. Using this system, you can open fantastic opportunities by nurturing authentic relationships with people already in your sphere of influence. Rather than spending your nights and weekends networking (swapping business cards and otherwise fruitless endeavors), you can unlock the power of existing relationships and see exponential rewards.

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Make consistency a habit. Determine what goals you want to achieve in your networking. Is there a specific job, company, or industry on which you'd like to focus? While you can zero in on networking groups, the best way to make true connections is through people you already know. Don't let maintaining these connections be pushed down to the bottom of your to-do list.

Aggregate your network. Part of the problem in networking today is that your contacts are spread out. You likely have contacts in your phone, on social media, on business cards, and in email, and often you may have duplicate contacts that are old or incorrect. Spending the time to put all these contacts in one place may seem like an undesirable chore at first, but it is a valuable investment. Use any system that works for you to keep them in one place. Whether it is a spreadsheet, a customer relationship list, or other database, make sure your system is in place. The first step is to develop a process to change your networking habits.

Building successful relationships is all about creating good business habits. You are building a new muscle, and like working out, the key is to build a system and then apply it consistently over time. Put it on your calendar on a daily or weekly basis, and make sure you live up to the commitment you've made. This should be a time that you tune out all other distractions and focus only on these activities.

Find a way to reward yourself for your good behavior management system or physical platform (like a whiteboard or index cards); the important thing is that it works for you. Ideally, you will use a system that can update automatically as you email people.

Prioritize who can help you. Now that you have your contacts, it's time to go through the process of determining whom you want to make a priority. As you go through your network, consider who is a relationship versus a contact. Having someone's email and phone number isn't the same as having a relationship with that person. Which of these people is in your field of work or works at your dream company? Whom do you know well enough who would be willing to get coffee with you or catch up over a phone call?

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British sociologist and evolutionary psychologist Robin Dunbar found that human beings have a cognitive limit to the number of people with which they can maintain social relationships, generally around 150 people. When we place our databases in order, we aren't being exclusive or elitist; we are simply making the most of our time and abilities.

Investigate for better connections. Today, we can learn so much about people online, but we learn even more through our conversations and direct interactions. Also, we tend to care about the people who care about us.

The more you know about someone and can reflect it back to that person, the more you can deepen the relationship. Each time you interact with someone, make sure you capture the vital information, including personal details, where she is with her business, and the current status of your relationship with her.

Timing is everything. You should build your network before you need it. That means that you shouldn't reach out only when you need something. Setting up a regular cadence of conversation will keep you top of mind with your most important connections. The biggest barrier to doing this is often your own willpower, which is why developing consistent habits is so crucial.

Adding value helps keep you connected. The least valuable relationships are often the most transactional ones. Your contacts should want to hear from you, and that happens when you build positive associations—focusing less on transactions and more on shared interests. Putting in the effort shows you care. The truth is that most people don't really pay attention to another person's wants. For every interaction, focus on making it meaningful, relevant, and valuable.

Leverage to scale. Building a strong network isn't easy. However, as you build consistent habits, you will find that you can systematize some things through the use of templates and automation. The more that you can template, the more you can accomplish.

Outreach

So much of what holds people back when they are trying to network is simply getting started. We tend to take ourselves out of the game before we even begin. By creating a consistent and reliable system and developing your relationships, you will be able to ask for the introductions you need to get the job of your dreams.

Although you can't control how people will respond, you can manage your own behavior. If you follow these principles, you'll be more likely to experience better results from your outreach. Over time, these little points of connection can yield a big impact and bring you closer to what you want most.


Tapping the Strength of Your Network

Your existing network may be deeper than you think. Carefully consider each of your contacts, asking the following questions:

  • How many people have asked you for a referral in the past year? How many people are sending you referrals or job leads?

  • How many people in your network are important to you?

  • Name all your old supervisors, going back to your first job. How many of them would give you a reference?

  • Name all the people who sat next to you in your past jobs. If you reached out to them today for an introduction to one of their contacts, how many of them would do it?

  • Go through your connections on social networks. How many of them would you randomly text and invite for a drink, and how many would automatically say yes? If you were to ask them to give you $20, who would respond? What about if they asked you?

Now that you have a better sense of the strengths and weaknesses in your network, you can start putting systems in place to maximize the value of the connections that matter most to the future of your career.


5 Steps to Leveraging Your Network

1. Aggregate: Make sure all your contacts are in one place.

2. Prioritize: Determine who may be most beneficial in your job search by looking at where they are employed and the jobs they hold.

3. Stay in touch: Make contact on a consistent basis.

4. Add value: Be sure you are adding value and not just calling to ask for favors.

5. Be consistent: Build your networking habits regularly over time.

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