NETWORKING FOR PROFITS

One of the most common "rookie mistakes" business people
make is confusing the act of exchanging business cards, or
handshakes, with effective networking.
Networking is not about how many people have your card. It
is about how many people know you, value what you do, and
feel comfortable referring their friends and colleagues to
you. 
This is such a critical distinction that it’s difficult to
over-emphasize it. Over the years, I have heard dozens of
professionals and business people say that they joined a
service club or professional organization "but it never did
any good." When I ask them to tell me how they actually
spent their time at the meetings, they usually say they
attended, tried to be friendly, exchanged business cards
with lots of people, and greeted as many people as
possible.
When I ask how many referrals they made TO the people they
met, I often get a blank look. When I ask about how many
luncheons or follow-up phone calls they made, there’s
silence. When I ask if they served on a committee or as an
officer, the most common answer is "No."
Networking is about bonding and building connections. It’s
about building trust. It’s about building a mutual
relationship that benefits both parties.
Think about how many people the average physician,
attorney, stock broker or salesperson contacts in a year.
If your attorney knows and understands the value of your
business and feels comfortable referring to you, he or she
might make dozens of referrals per year. 
Think of networking as the art of building a solid, long-
term alliance with a circle of fellow business people. A
circle of a dozen can be worth a million dollars a year in
referrals. It’s not the number business cards, it’s the
quality of the relationship that counts.
Build your network in terms of solid, reciprocal alliances
that benefit each member of your "quality circle."