Networking is the original social media. A way for all professionals, accounting professionals for the purpose of our examples, to talk to other professionals to seek advice, guidance and compare stories (the good, bad and ugly!). It’s also been a way for clients to essentially advertise for you by networking with their friends, families, colleagues and people they meet to potentially recommend your services.
Networking is a powerful tool that is talked about constantly but generally seen as undervalued. In college, I heard all the time that networking is the key to success. But what exactly is networking? Where do you start? How do you know when you’re networking with the right people to push yourself in the direction you want to go in? While there is no exact formula for success when it comes to networking, there are a few things you can do that will allow you to stand out and make impressions that are sure to network you to bigger and better things.
What is networking?
Networking is the exchange of information or services among individuals, groups, or institutions; specifically: the cultivation of productive relationships for employment or business. It’s getting to know other professionals, on more than just a name-and-face basis. It’s about knowing who they are, what their niche is (if they have one), what their clients say about them and picking up your own general insights on the type of person and professional they are. Someone could be a slam dunk on paper but has a few kinks in person, and networking is where you really learn things like that.
How do you start networking?
If you’re trying to meet other professionals, just be yourself. Meeting new people can be difficult and a bit awkward at times; but just push through. Ask them where they are from, what they like to do in their spare time and other generally personal, without being too personal, questions. Doing this will allow you to build connections you didn’t realize you had.
Building these connections can help you gain more confidence in talking to other professionals as well. You’d be surprised how many similar problems people in the same industry have but don’t talk about just because they don’t want to seem like they don’t know what they’re doing. But in an industry like accounting, where new technology is coming out every day, drastically changing the way the job is done, I promise you, you are not alone.
How do you network with the right people?
This can seem like a kind of a trial and error approach at times. You will meet people that you have nothing in common with, and that’s totally okay. Or you’ll connect with someone really well that really can’t help you much professionally. Both of those connections seem useless, but they are definitely not. Networking isn’t about meeting only people like you or people who can help you succeed, it’s about meeting new people, getting your name and firm out there and showing other accounting professionals, advisors and clients what you’re about. Be yourself and talk to as many people as you can. Even if you don’t talk business, creating relationships with colleagues and clients (or potential clients) is a way for them to humanize you and in turn, trust the person that you’ve shown them you are.
You also want to be transparent in your successes and shortcomings. Obviously, you want to highlight your successes, but no one is perfect; and we shouldn’t pretend to be. Showing your struggles and your ability to problem-solve, adapt and move on shows growth and a transparent quality that is specifically important to clients when it comes to their finances and who to trust with them. If their business runs into a problem, they want to know their financial advisor can look at their problem, examine their options and give them multiple scenarios where you can advise them to adapt their business model to this issue. Showing your ability to grow in your training and learn from past mistakes and successes is very important in creating a network of trusted colleagues and clients.
Networking is such a simple idea but is much more complex in practice. I majored in Communication Studies in college and still have trouble talking to total strangers occasionally, but that confidence is what will make you stand out. That confidence is what will show your colleagues and clients that you are not afraid to go out of your comfort zone. And who knows? That random person who you thought was just a connection from a conference you met could end up offering you a job in five years. Networking is a powerful tool that can help you grow your firm and grow as a professional.