A network as your most valuable asset.

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Whether in socializing or business,a network of contacts or businesses is more often than not the most valuable asset you have,asset in the sense that you can use your network to advance different interests including making money.A network is also an asset in the sense of being a support base as you pursue such interests as politics or issues related to influencing individual or public opinion.A network does not exist outside of yourself,instead you are part of it and you need to add value to it,so that the other members of the network are also benefiting from your being part of the network.this is not to say that relationships should be a transaction,rather to point out the necessity for relationships to be mutually beneficial if they are to last and be of value to both parties.Indeed as you build your network,part of the process is droping non productive relationships,as they are a liability that will drag you down.For clarity,the network being described here is a network of people,either for socializing or conducting business,or pursuing any other interests where having such a network can be of help.

Identifying who should be part of your network.

This is probably the most important part of the dynamic process that is building your network,dynamic because it’s not a fixed process or formula but changes with the changing circumstances.In the case of a social network,you need to cultivate relationships with people you are comfortable with calling your social acquaintances,because of a metric such as pursuit of similar interests or being workmates.such relationships have to be nurtured to maturity,a skill that is more of an art than a science.A mature relationship is one that can go through challenges without breaking,with a principle of sticking together no matter what.For business,it’s more straightforward,in that your business network is the people you do business with,or help you in your business endeavors.Remarkably,majority of the most important people in your business network will have first been friends,or in your social network.socializing is one of the best ways to create or spot commercial opportunity.You need to be conscious of which network you are creating and who needs to be part of it so as to spend time wisely in cultivating desired relationships.

Building your network.

Whether social or business,openness and clarity helps build trust in your network,an important part of it being that if there is trust in your network,it’s a useful and reliable network.You need to speak freely and be precise in what you want from your network to make everyone comfortable with associating with you,but in such a way that you don’t come out as dull and blunt.For instance,there are those in your network to talk to about issues you can’t talk to other members of your network,something you need to figure out early in advance.You also need to be reliable,with information as well as in keeping your word.This builds confidence in the network,because remember,you are part of it and will be confident working with other members of it if you are a reliable member of the network,as others will be too.

Working your network.

You should not confuse your social network for your business network,although in practice some members of your network will be part of both.This is because wrong use of a network can kill it,which is why it’s said don’t mix business with friendship.You should also avoid taking advantage of your network,as nobody likes to feel used,and there will be blow back.You should take time to consider the interests of every member of your network and how those interests are served by any use you intend to make of the network.You need also to make everyone in your network feel important to you,and valued,as then the network is going to prove more useful.You could do this by asking for their opinions on issues affecting you or consulting them before making consequential steps in business or social life,or sharing with them opportunities that come your way.You should see your network as a fragile asset you own,that needs to be handled with care to continue giving you returns.

Challenges with your network.

Such challenges could take the form of stalled business projects in the case of business networks or even bad blood because of gossip in the case of social networks.whatever the case,challenges are opportunities to reevaluate the network itself and ask yourself whether you are comfortable with it as it is or you need to change it by introducing new people or removing some.This is because networking is a dynamic process that changes with changing circumstances,and as an asset,your network as it is can and does expire in value,which is why you need it changing with circumstances,to remain a valuable asset.there are friends you need to drop and new friends you need to have,just as you need different networks for different businesses.

Lastly,you need to invest time in networking,by being available for business meetings and birthday parties,as well as spending money on your network,like in gifts or helping out a friend when in need,or investing your personal resources in joint business ventures.You should appreciate the value of a network as the diversity of it’s members,which you can tap into for your social and business well-being.

Author:Lion Mambo.

Published and distributed by:Fortune magazine.

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