What You Know, Who You Know or Who Knows You?

You may have heard the sayings “It’s not what you know, it’s who you know” and “It’s not who you know it’s who knows you”. Network in enough circles and you are bound to hear this said – you may have even quoted it yourself. However, we have a different view.

You see it is the combination of what you know, who you know and who knows you that leads to successful and profitable networking, connections and business relationships. Without each of these three elements you will not be connecting at an optimal level.

It is about ‘What You Know’...

If you do not know your industry well, if you are not confident in your product or service and you do not know how to connect effectively with people, I guarantee you will not get very far with your networking or far in business for that matter.

In order to connect with influential people, generate referrals and have profitable relationships you need to establish your expertise and credibility so people are confident you can deliver. Ask yourself would you do business with or refer your clients to someone who has little knowledge of their industry and no confidence in their ability?

It is about ‘Who You Know’...

The whole point of networking and connecting is leverage, yet many people try to do everything on their own. You need to know the right people to call on, whether it is to ask for a favour, a referral or advice. Unfortunately we have found that most people either feel uncomfortable using their connections or they have not built enough rapport to ask for assistance.

Remember it is the people you know and the key connections you make that can lead to a continual stream of business. Build in time to maintain your current business relationships as well as form new ones.

It is about ‘Who Knows You’...

It is important to be known in the business community, high visibility and credibility can massively grow your business. When you are well known you are more exposed to business opportunities, high calibre people want to connect with you, you can charge more and you get to choose who you do business with.

A word of caution though, we see many people spend all their time in trying to be well known, they are ‘serial networkers’ that get so caught up in meeting people that they forget to follow up and establish relationships with the people they have already met.

So the next time you are making connections, remember to focus on all three of these areas. By doing so your networking will be more effective and you will have more profitable outcomes.

Do not be deceived to focus on only one of these areas combine the three and watch how much richer your networking will become.