5 Reasons why Executives Should Build Strong Relationships

By: Kara Stucky

“If you want to go fast, go alone. If you want to go far, go with others.” -African Proverb

 

Whether you’re a young entrepreneur launching your first business, an experienced professional working at a large multi-faceted organization, or a student who hasn’t quite stepped out into the working world, one thing holds true: building successful relationships will be the key to your future success. Have you ever wondered, “Why should I network?” Or “What’s the point?” Here are five reasons building lasting relationships is critical to your success.

  • You’ll Outperform Your Peers: According to HBR.org, “Executives who consistently rank in the top 20% of their companies in both performance and well-being have diverse but select networks...made up of high-quality relationships with people who come from several different spheres and from up and down the corporate hierarchy.”
  • A New Perspective: Stepping outside of your current industry and meeting new professionals who are in a different domain or sector than yours will provide you with a different outlook and a fresh perspective. Tom Farley, President of the NYSE advises that “networking is about collecting relationships with interesting or influential people irrespective of the immediate benefit of these relationships.”
  • What Are You Giving Others? Those who get the most out of networking, and who build the strongest business relationships, are those who are generous. Offer others your expertise or help before asking for something for yourself. If you help out others, by offering advice or giving a referral, you’ll be more likely to build long-lasting relationships.
  • Gain Confidence: Sharing your story with others will help you build  confidence in your own brand building.  Once you share your story, try to find common ground and connect with others. Don’t feel intimidated - Farley encourages that “often times people miss opportunities to network because they feel intimidated, particularly if the other person is more senior.”
  • New Opportunities: Fortune.com states that “sometimes it’s individuals outside your immediate network that end up offering the advice you need to propel your career forward.” So remember, that even if you aren’t looking for a new career opportunity today, the investment in others that you are making today, could help you out tomorrow.

Don’t spread yourself too thin when it comes to building these relationships and remember that authenticity is key.

Join us at our next Magnet event for the opportunity to connect with talented, young professionals in the Madison area. Hope to see you there!