The Power of Strategic Networking in 2024: When Who You Know Becomes Your Most Powerful Asset

Here is a powerful truth that most people only get to learn a little too late: Your Network is Your Net Worth.

But that isn’t just a catchy slogan. Rather, it is a fundamental principle for success in today’s interconnected age. The statistics speak for themselves:

  • LinkedIn, the professional networking powerhouse has over 1 billion users. That’s a staggering 12% of the entire world’s population that has discovered the power of networking.
  • While unconfirmed, it is reported that nearly 54% of jobs in the U.S. are filled through networking or referrals. Nearly 70% of jobs asked for referrals.
  • Referred candidates boast a 2x to 5x higher chance of getting hired, compared to other applicants.
  • Aptitude Research notes that 84% of organizations prefer referred candidates s it can cut down costs and improve the quality of the hire.
  • 50% of candidates surveyed by Aptitude Research said that in-person events gave them an ideal opportunity to network (More on the Lillian Ngala Network later in this text)

There are many other stats that prove strategic networking isn’t just a fancy fad. Building strategic relationships is no longer a luxury – it’s a necessity.

But What Exactly Is Strategic Networking?

This goes beyond collecting business cards and attending crowded events. At the Lillian Ngala Network (LNN) we believe it’s about **cultivating meaningful connections with like-minded individuals who can support your growth and aspirations**.

So, how do you know that your network is effective? To answer this question, let’s give an example for context. If you are a graduate of an Ivy League institution like Princeton, Harvard or Yale, you are nearly assured of getting hired even before you receive that glistering piece of parchment called a degree. But, it’s not essentially the degree itself that gets you into the doors of a Fortune 500 company almost instantly, or even the prestige associated with the name. Rather, it’s the powerful alumni network of these schools.

Strategic Networking
#LNnEvents #StrategicNetworking

Quality trumps quantity for any network. A recommendation from a Harvard or Yale alumni instantly screams “effective” and “great hire”. Many professional networks lack diversity and depth, limiting their potential. Even if you didn’t graduate from an Ivy college or worked in a Fortune 500 company, you can still leverage the power of an open network such as #LNN.

What Type of Network Should You Join?

This really depends on your end objective. Let’s use the #LNN model to understand how your network can look like:

  • Strategic Networking hub: This is ideal for anyone looking to give their professional profile a boost. That could be an entry-level person fresh from campus, or a senior manager looking to transition to the C-Suite.
  • Mentorship Network: This is especially tailored towards more youthful professionals – those still in high school or campus. AT LNN, we take it a step further an offer peer-to-peer mentorship, career coaching, and even entrepreneurial mentorship.
  • Centered Leadership Network: Beyond building a professional profile, you might find yourself falling into leadership, either as a passion, or as a natural transition. Leadership networks allow you to connect with other great minds. The aim of leadership network is to help grow your awareness, enhance your emotional intelligence, and even build collaboration. Ultimately, you will be better equipped to lead effectively and inspire those around you.
  • Executive Coaching Network: Your objective in joining a professional network like LNN might be to bridge a skills gap that you have, or even to update your current skillset. Through leveraging the experience of coaches, business leaders, CEOs and professionals at their peak, you too can join the ranks of the greats.

How Can You Strengthen Your Network?

It’s simpler than you might think. That might include creating a LinkedIn account and starting the journey of forging connections. If your job has a professional company network then don’t pass on the opportunity. Contribute to teambuilding events, attend seminars and other niche sessions targeted at your profession or those at your career level and beyond.

Don’t be afraid to cross boundaries and make introductions beyond your network. Connect with individuals from different functions, levels, or geographical locations to expand your influence and strengthen overall connections. Attend once-in-while, high-level events such as the upcoming #LNNEvent at Serena Hotel, Nairobi, on March 6th, from 5.30 – 9.30 P.M. We’ll be drawing in some of the top minds from across the county and country for some amazing discussions and exchange of ideas.

Upcoming Strategic Networking event
#StrategicNetworking #LillianNgala

Remember, your network is an asset to be cultivated, not collected. And the “who’ in your network literally becomes an asset that you can leverage. By fostering meaningful connections with diverse and supportive individuals, you unlock the power to advance your career, gain valuable insights, and make meaningful connections beyond the workplace. See you at Serena Hotel on the evening of March 6th!