Networking Creates Business Connections That Lead to Success for MBAs

Whether or not this is a true statistic isn’t important—rather it’s the concept that you can connect to virtually anyone in the world through the people you know. This means that every person in your address book, or your LinkedIn® or Facebook™ accounts offers the promise of connecting with almost anyone you want.

This is especially important for MBA students and recent MBA graduates. As you’re launching yourself into the world to pursue your business goals, other professionals may be your best source of new job information.

It really is who you know

People prefer to conduct business with people that they know. To make it easier, business people through the ages have set up organizations with members who had common objectives.

Whether we’re talking about yesterday’s guilds and trade societies, or today’s professional organizations, networking groups or chambers of commerce—they present a golden opportunity for today’s MBA graduate. Exploring networking and professional organizations could yield contacts that lead to career possibilities. In order to capitalize on all that networking has to offer, you must know the ropes.

It’s not just passing out business cards

First and foremost, networking isn’t about distributing as many business cards as possible; it’s about building relationships. Dictionary.com defines networking as: “a supportive system of sharing information and services among individuals and groups having a common interest.”

You’ll find networking groups range from casual to formal. At a networking event, you might meet businesspeople in similar or complementary professions who regularly get together to discuss business issues. Or, it could be a more formal arrangement with membership dues and required attendance, like the international networking group, BNI (Business Networking International).

To the uninitiated, walking into a room full of strangers with the intention of forming referral relationships can be daunting. Yet, when a seasoned networker walks into the same room, he or she sees new possibilities. How can an MBA student or recent graduate make the most of the opportunities that are presented at a networking event?

Prepare for networking success

1. Know who you want to meet. If your MBA concentration is finance and you’re looking for a job in the electronics or insurance industries, you’ll want to meet anyone who works in those types of businesses—preferably in a managerial capacity or in the finance or accounting departments. When you arrive at an event, ask the organizer to introduce you to a few people they know in the electronics or insurance fields.
   
   
2. Listen to the people you meet. Successful networking is really about building relationships. When you get to the point of having relationships with one another, it’ll be easier to get and receive referrals because business colleagues know who you are. That takes time and getting to know the people you meet.
   
   
3. Create a mini-commercial about your business. You’ll inevitably be asked, “What do you do?” It’s to your advantage to say something memorable. “I’m a recent MBA graduate looking for a position in finance” doesn’t inspire anyone to remember you. But, “My passion is creating a corporate culture where all employees are responsible for the health of the company’s financials” is far more memorable.
   
   
4. Look the part of a successful business person. No jeans, flip-flops or t-shirts. Dress as if you’re going to a business meeting, because you are.
   
   
5. Follow up. Keep in contact with the people you meet. If you promised to forward an article or send an email to someone, do it. This could be the start of a business relationship and nothing will stop that faster than not doing what you said that you were going to do.

Networkers say that when it’s done effectively, their associates provide more referrals than marketing and advertising, and at a lower dollar cost. Networking requires more of an investment in time.

Because you are starting a new professional journey, it’s worth your while to create mutually beneficial relationships to help you along the way. Start with your classmates and people who are already in your business circle to begin networking. To broaden your field, check your local Business Journal, professional organization or local paper for networking opportunities. Your early forays into the world of networking may not yield the rewards you’re looking for; but, keep working on building relationships. These associations will pay off for you in the long run.

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References

Dictionarycom, LLC, Copyright © 2010.

Business Networking International BNI®, Local Business – Global Network®.