Strategic Networking - The power of professional self-interest

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One of the topics of conversation that frequently comes up during conversations about career ladders and professional development is networking. I'm one of those who learned far to late in my career the power of strategic networking.

You may be asking yourself what is strategic networking? Networking is the activity of connecting and communicating in a non-hierarchical manner. It is generally accepted that there are two types of professional networks; functional and strategic.

The network I'd like to stress is very important to create and nurture is your Strategic Network. This is a group of colleagues whom you have come into contact with or specifically sought out because of their place in business. They likely have little to do with helping you achieve the objectives of your day job.

It's helpful to ask what do strategic networks provide? They expose you to areas of business inside and outside of your employer. This is something a functional network isn't capable of providing. Members of your strategic network include mentors who can sit on your personal board of directors. Your personal board should help you identify blind spots, reflect on your behaviors and accomplishments and expose you to new opportunities. The best relationships within a strategic network are when there is a strong 2-way exchange of the above benefits.

If you operate within a matrix organization in order to achieve your deliverables you are likely very familiar with a Functional Network. The individuals you connect with and attract to your teams to deliver on project objectives constitute a network by individual function. These too are networks of non-hierarchical relationships. We often refer to these as cross-functional teams - colleagues from diverse functions brought together to achieve a specific objective. This type of network is also referred to as Operational, (Ibarra & Hunter, 2007, HBR).

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One example of individuals within my strategic network are those with which I've done significant business with in the past. Our transactional relationship has long since passed and now we remain in contact out of personal self-interest and mutual respect. Just as with a long-time good friend, it's necessary for you to take an active part in keeping the relationship alive. As I reflect on the individuals in my strategic network it is true to say that these people are the most diverse and valuable of my acquaintances.

What are your experiences and thoughts on strategic networking?