It's Not About What (or Who) You Know...

Here’s a true story.

An English language lecturer came from overseas to teach in a Malaysian university for six years. At the end of his contract, he went back overseas, only to return to Malaysia two years later to start his own business. To advertise his consultancy services, he compiled a data base of human resources personnel from the recruitment ads in the New Straits Times and sent out 350 introductory letters.

From the 350 companies he contacted, do you know how many contracts he got? Just one. But, that didn’t mean he was idle during his first year of business. Other contracts came to him through people that he knew, and through people who knew people that he knew, and through people who knew people who knew people that he knew.

You’ve heard this saying before: It’s not what you know, it’s who you know. Here in Malaysia especially, knowing people is the foundation of your business. And that’s why networking is one of the most important business activities that you can invest your time in.

Networking is all about expanding your sphere of influence. It’s about knowing who to turn to when you need help, and being available for others who need help from you. It’s your best method of finding out what’s available on the market, and your most cost-effective way of marketing yourself.

Networking is done many different ways. Companies sponsor social gatherings, for example, to expand their own business networks. Some organizations exist for the purpose of networking. Local and international chambers of commerce are set up to network business locally and overseas.

Networking is also done individually, and having a personal network of friends and business associates is an indispensable way to keep your name known in the business world.

Networking is more effective than advertising because people like to do business with others that they know and trust. Finding out about your products or services in an advertisement is one thing, but finding out through word of mouth is better.

Building an effective network requires time and sometimes, a bit of assertiveness. But in the end, it all pays off. After all, business success is ultimately not about who you know, but who knows you.