What is Strategic Networking? Our Definition…
A network strategy consists of your well thought-out intent for establishment and overseeing a network of partners and individuals in a way best designed to meet your common goals. It revolves around the considerations of HOW you will grow your network, in light of what you will do, and won’t do, to enhance your work with your goals. A proper and efficient network strategy acknowledges questions like:
What type of network are you establishing?
What is the network’s primary purpose, along with specific goals to evaluate progress?
How will the network be governed, informally or formally, and by whom?
What is the timeline for the network? Will it go on or end after meeting its goal?
How will the network’s membership be selected and managed?
The above questions validates the fact that strategic networking is a major factor of consideration in building and retaining valuable networks.
In addition, creating or being part of a network has costs: time, money, energy and other precious resources that could be spent elsewhere. If you aren’t carefully considering how to spend those resources in a way that maximizes your return on investment, your network approach could actually be very costly. Our research suggests that in extreme cases, taking a network approach with no concrete strategy could rob you of your collaborative advantage, leaving you less effective than you were beforehand.
