7 Benefits of Networking for Productivity and Growth
“If you want to go somewhere, it is best to find someone who has already been there.” — Robert T. Kiyosaki.
The words ‘Network’ and ‘Networking’ are not new for you. Everyone is familiar with both terms. You not only use them but also live them.
Members of family, friends, colleagues and neighbors are your network and the beneficial relationship among them shows your networking.
If you desire your personal and professional excellence, I will suggest you aim for networking.
In this article, you are going to explore the importance and understanding of network and networking. You will also know the seven benefits of a powerful network. Keep reading; and in the end, you will find out how to derive the power of networking and why we love networks and do it.
What is a network?
A network is a group of interconnected people to exchange information and to develop professional or social contacts.
A communication or mobile or cellular network connects devices to make communications accessible and possible. In the same way, a personal network connects individuals for mutual development and growth.
What is networking?
Networking is interacting with others to exchange information and develop professional or social contacts. In other words, it is a process of creating a network.
It does not limit networking to direct selling agents, as some people think so. It is about sharing values and caring stakeholders. You will miss unleashing the power of networking; if you think it is for personal or professional gains, and nothing is in it for you. But the truth is different. It mutually benefits.
It is a more important element for personal branding, growing social contacts and professional excellence in the present era. Internet connections, social media platforms, and handy electronic gadgets make it easier to connect with individuals for professional usefulness and increasing social wellness.
What are the 7 benefits of a powerful network?
I love networking. As it benefits you in several ways, I recommend you the same. A powerful network operates as a foundation for your productivity and growth.
You will read here 7 benefits of a powerful network. You can memorize those 7 benefits using an acronym, which is NETWORK itself.
Here NETWORK stands for Net worth, Edification, Team-spirits, Wealth creation, Opportunities, Relationship with responsibilities and Knowledge sharing.
Let me summarize each point in a brief.
#1. Net worth:
Net worth is an accounting term. It is the net value of an individual or entity. You can calculate it by subtracting the total liabilities from the total assets.
Net Worth = Total assets — Total liabilities
Assets are those you own, and liabilities are those you owe.
Networking increases your assets and reduces your liabilities. Hence, it strengthens your net worth.
Tim Sanders said, “Your Network is Your Net worth.”
#2. Edification:
Edification is another benefit of networking. A strong network uplifts an individual in personal, social, and professional areas. Your networking team elevates you and supports you in going ahead in your life. You will give respect and will get it back. Hence, to edify provides you with credibility and recognition.
#3. Team Spirit:
As the network represents a group of people, it exhibits the quality of team spirit. Your talent, ability, and success depend on your teamwork. You cannot achieve the desired outcomes alone. A network provides you with its support and strength that brings you enhanced productivity and profitability.
Networking allows you to communicate with people from diverse backgrounds, knowledge fields and age-groups. It widens and influences your mindset and points of views. It, therefore, makes you understand the essence of team spirit.
To quote Henry Ford will show you why building team spirits is necessary for you.
“Coming together is a beginning. Keeping together is progress. Working together is a success.” — Henry Ford.
#4. Wealth creation:
When you are in any network, it will lead you to more connections; and help create wealth. Remember, people are assets. Humans are resources.
A network provides you with recent updates on the jobs and current marketing trends. It helps to arrange meetings with prospective clients, business partners, and corporate leaders. They examine and develop your mindset and skill sets. Hence, networking provides you with favorable consideration for wealth creation.
#5. Opportunities:
Networking creates several opportunities for you. It gives you the opportunity for career development, personal development, skills improvements like delegation, conducting meetings, presentations, speaking and teachability. It recommends your usefulness to other people. You can grab and also create opportunities.
#6. Relationship with responsibilities:
As networking associates with individuals, it builds relationships among them. A relationship without responsibility is impossible. Every individual of a network shares its accountability. If you take part in any networking, you can better understand your accountability part and carry on better relationships and responsibilities.
#7. Knowledge sharing:
In a network, individuals from diverse fields of knowledge come together. During interacting with them, you gain knowledge of the different areas. Knowledge sharing is a two-way approach. You also share your knowledge, experiences, personal stories, and expertise within your network. It educates, enlightens and provides insights for productivity, growth and success in every sphere of life. Knowledge sharing is a unique feature of networking.
If you ignore networking, you will measure your progress and growth in an arithmetic progression.
If you take advantage of networking, your growth will take the shape of geometric progressions.
You are already part of a digital network. That is why you have an account on Twitter and LinkedIn. You can do networking at your workplace and at your home.
“Networking is a lot like nutrition and fitness: we know what to do, the hard part is making it a top priority.” — Herminia Ibarra.
Will you go for networking?
Share your insights by writing a response!
Hope you liked this article!
If you liked this, please share this article with your friends. Also, check and support my other blog posts/Articles.
(This Article was first published on medium.com) (Above is a brief extract from my bestselling book, The Way I Learn.)