Your Network Is MORE Important In A Bad Economy
Thom Singer is the director of business development for vcfo, inc. He is also the author of three books on the power of business relationships and networking. He can be reached at www.thomsinger.com.
Have you heard? The international economy is not doing great. One cannot pick up a newspaper, read a website or hear a broadcast without stories about how the downturn in the economy is affecting everyone from Washington to Wall Street to Main Street and beyond.
People are scared. Businesses are assessing their credit availability and are avoiding making any large decisions until the first of the year. Hiring is slowing in many areas. Consumers are nervous about making big purchases, too, as they conserve cash - there is less money for businesses (vicious circle). Wall Street and Main Street are linked. The near-term outlook for everyone is bleak (I say “near-term because we should never forget that every down in the economy is eventually follow by an up-tick!) as everyone from the person on the street to our political and business leaders look for solutions.
So what does this have to do with networking? EVERYTHING!
If you want to recession proof your career you must have a network of personal and professional contacts that know and support you. Waiting to network until you are laid off or in need is a horrible strategy to protect your future.
All opportunities come from people. While a simple statement, it is one you must take to heart. If you lost your job tomorrow would you know where to start your search for your next career? Statistics show that most jobs are filled (directly and indirectly) through networking contacts. If your network is limited, you ability to discover opportunities is limited as well.
If you are concerned about how the economy might affect your future then it is time for you to assess your commitment to your business relationships. When you are in need and you approach people to make new contacts it is clear that you are in the game for your own reasons. However, when you are not seeking help and you establish a mutually beneficial long-term friendship, the other person will be there for you instinctively if your career gets sidelined. You will not need to sell yourself to others who already know about your unique talents.
You want to make sure that you establish strong business relationships before you are struck by any negative consequences of the faltering economy. To think that a “networking blitz” once you are in a bad spot will yield results is short sighted and plain wrong. Better to be an established and known contributor within your business community all along. If people know firsthand that you will be a great catch for any company, and that you will make them proud when they recommend you to others, then your phone will ring. If you are a stranger who is desperate, you may or may not get their assistance.
Establish the connections to the power of an extended network now, not later.
Your network is MORE important than ever in an uncertain economy!!!
Filed under: Guest Blogger, Uncategorized










Leave a Reply