How to build a worthwhile Professional Network

“It’s not what you know, but who you know”. Whilst ‘the old boys network’ is not what it used to be and perhaps doesn’t even exist in its’ old guise there is still much to be gained from building your own network of business relationships.

We think a professional network is a “group of people who are willing and able to help each other in their business and professional lives”. Your job is to make yourself a part of such a community – this is what this guide is all about: building a quality network that will benefit you in your professional career.

Importance of building a network

Networking should be about making and building mutually beneficial relationships and viewed as a career skill by both individuals and firms.

A quality network of contacts can help with referrals and introductions, not only for you but also could be useful for your colleagues, clients or other contacts that may need help or advice in a specific area.

Building and developing a network of quality contacts should be viewed as an investment of time, not simply something that you ought to do for the sake of it or because everyone else does.

The main aim of building a network should be to get to know a wide range of people across a broad spectrum of sectors/ roles, even seniority that you can begin to get to know.

Relationships are essential in the world of work; your network is solely built on relationships that you have with people. Once the foundations are in place, potential opportunities will naturally follow. People do business with people that they like, know and, most importantly, trust.

Benefits of building a network

The ultimate aim is that contacts approach you with potential opportunities or reach out to you for advice. If you are seeing this happen, this is a good sign that your network is built up of quality contacts who are right for you.

You have a pool of people from an array of sectors and backgrounds who you can contact when you need help with a problem or could help a client with an issue or requirement.

Your contacts provide you with a route to be introduced to their network which can open up further opportunities and conversations. These contacts can ultimately be of use to your network of contacts.

A contact should last a career and your relationship with someone grows as you both progress. It is important that you stay in contact with people and have personal contact details as you don’t know what opportunities may arise as people develop their career.

How to build and maintain a network

It is one challenge to build a network and second challenge to maintain it.

Here are few simple steps to help you get started :

• Rule number one: identify people who can help you and then make sure you give them more than you take off them. Our belief is when it comes to networking you should give, give, give before you take. You need to be in the black in the relationship bank account!
• Describe yourself quickly and concisely - getting your message across quickly, including all key info is essential. Perhaps consider 20-word pitch that encapsulates everything in one sentence.
• If you are helpful to someone either through an introduction or a piece of advice, you will begin to establish the foundations of a relationship. Individuals will be more inclined to reciprocate in the future.
• Trust and reputation are vital for building a contact. Relationships are built on trust, offering help when you have offered help. Remember that your reputation follows you everywhere and networks interlink with each other.
• Relevancy and targeting are essential. Be strategic with your selection of networking events, target events that are in your sector or aimed at a sector that you would like to work in.  Remember it is an investment of your time and your firm's time.
• It is important to know when something isn't worthwhile and STOP - it is time for you to look out for new networking events.
• Networking online - today's business environment is now digital. You can network online through platforms such as LinkedIn with a professional personal profile you can make connections with key people online. This is great way to build your personal brand. 
• Bring your contacts online - When you meet new people send them a connection invite through LinkedIn or drop them an email. This makes it easier to stay in contact and keep up-to-date with what each other are up to on a regular basis.

Helping others in your network to build their own

If you speak to a senior individual in your firm, it would be useful to understand how they have built a network through their career and the benefits.

It is important for senior accountants to guide those setting out in their careers through the do’s and don’ts of building a quality network.

Sharing experiences will be useful for those looking to begin to create a network, helping them understand the importance and the benefits.

Taking trainee accountants under your wing and taking them along to events and helping them with a few introductions. They will be able to see first-hand how to have a conversation with someone they don’t know, how to present yourself and your firm.

Learning how to create and maintain a professional network should be seen as an investment of time from both you and firms.

Ultimately, a quality network of contacts will lead to better and more prosperous long term business relationships that are mutually beneficial for both parties.