Most people understand that to be successful, they need to network. But
actually going out and doing it is another matter. People "are daunted by
the task and believe it requires inauthentic, uncomfortable behavior and is an
activity that is inconsistent with focusing on job performance,"
says Jeffrey Pfeffer, a Stanford professor of
organizational behavior, who covers the subject of networking as part of
his Paths to Power elective course. Too often, he says, people
view networking "as something that 'is not them' or that they could not
see themselves doing."
Too often people view networking as something that ‘is not them’ or they
could not see themselves doing.
But in a new e-book coauthored with Ross Walker, a
2005 graduate of Stanford's MBA program, they argue that networking ability is
not just important for career success — "it is also crucial for getting
things accomplished and making change inside organizations in both the public
and private sector."
The authors draw on Walker's experience, which was shaped by an
"ability to build relationships and an efficient and effective social
network," they write. Walker became one of the youngest members to serve
on the Stanford Board of Trustees; found a career in his chosen field of real
estate, where he has a successful real estate investment fund; has equity in
Hollywood nightclubs; and has a small ownership stake in the Oakland Athletics
Major League Baseball team.
While at Stanford, Walker had a reputation for being a big-tent person.
He planned events and themed parties that not only were entertaining but also
brought people together. These events naturally led to networks that would last
beyond his time at Stanford, but Walker's ability to make connections did not
stop there, says Pfeffer, who was so impressed that he wrote a case study charting Walker's networking
efforts.
They teamed up to write People Are the Name of the Game: How to Be More
Successful in Your Career — and Life. Here are some tips from the
book.
Time Counts
Research by University of Chicago professor Ronald Burt shows that
"being even one step removed from the person within the network almost
completely reduces the benefits to you," the authors wrote. "Simply
put, networking is not something that can, or should, be outsourced."
Find a Mutual Connection
"People are the name of the game — you must understand how to read
people quickly and find what you have in common," says Walker. "With
so much public information out there, this is easier to do today." You are
more likely to get a response from someone if you have already found a shared
interest or acquaintance in advance of introducing yourself.
Create a Robust Network
Walker was initially interested in working in the hospitality business,
and through his research learned that alumnus Chip Conley had founded the
boutique hotel chain Joie de Vivre Hospitality while he was still in his
mid-20s. When Walker finally reached out to Conley, the 1984 Stanford GSB
graduate had already heard of him. "I got hit by three different people
simultaneously saying 'you have to meet Ross Walker,'" Conley recalled,
according to the case study. "All of a sudden, you have him on your radar
in a big way."
Be Specific
CEOs are busy people and therefore are unlikely to respond to vague
requests or take on the burden of finding ways to help you. Help them to help
you by making a specific request. For instance, when Walker met Conley, he
submitted a brief one-page proposal to Conley in which he asked for an
internship and offered to work for the summer without compensation. The reason:
"Walker believed that you could not let high-profile executives think for
you. … [It is] better to give them something tangible to consider, because once
you've left their presence, they are not going to spend more time thinking
about you."
Be Diverse
Clearly, it is important to link up to the influencers in your intended
field. But do not underestimate the importance of "weak ties." It is
important to create a diverse network — diverse people, diverse industries and
diverse locations — even though these connections may seem remote to your
present career or contemplated future. Diversity can also help when seeking
funding for a startup.
Do What You Say You Will
"Do not overpromise and underdeliver, but instead, maintain
credibility by doing the follow-up work to always meet your commitments,"
the authors write. "In financial parlance, it is easier to exceed
expectations if those expectations are not completely over the top or in your
face." By keeping your promises, your reputation spreads throughout your
network. "The action of 'moving things from A to B' or following through
as promised builds a surprisingly rare reputation that can be leveraged in a
number of ways as it builds the confidence of others," write Pfeffer and
Walker.
Be Genuine
The co-authors say that the more you pursue your passion, the more
compelling your story will be when you share it with someone either by email or
in person.
Think Long-term
When Walker sought investors for a real estate fund he was creating, his
connections led him to a billionaire CEO in Silicon Valley, who asked Walker
how much he wanted him to invest. Walker suggested he contribute whatever
amount he was comfortable with. "Walker saw this first fund as building a
track record and, in the process, cementing relationships with people who would
be 'with him for a lifetime' once they had seen what he could accomplish and
gotten comfortable investing together," Pfeffer noted.
Consider Your Approach
"Crafting emails can be an art sometimes," Walker notes.
"I always take time to think of the subject line. I try to write something
there that reflects a connection. For example, if you are a student and you are
contacting an alumnus, I might write 'Current Stanford GSB Student Inquiry,' as
I know that most alumni enjoy hearing from current students for a number of
reasons."
Stay in Touch and Give Back
An easy way to keep in touch with those in your network is to send them
emails now and then, introducing them to people who will be helpful additions
to their networks. And, like Walker does, respond when others seek to add you
to their circles.
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