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Why is Networking so important?
Home » Careers » Networking » Why is Networking so important?Posted by Your Guide on October 12, 2005 4:14 PM
We hear time and time again that networking is key to being successful in the business world, but many may wonder just what makes networking so important. Consider this as it pertains to job searching: At any time, about 80 percent of all available jobs are not posted in the classifieds or on job boards, according to BH Careers International, a New York career-management firm. And 60 percent of people surveyed by BH said they got their last job by networking, according to the Wall Street Journal Online article “Experts Offer Their Tips for Fruitful Marketing.”
Also consider this information about business referrals from Ivan Misner, a New York Times bestselling author and founder and CEO of BNI, the world’s largest referral organization. As part of his doctoral work at the University of Southern California, Misner conducted a thorough study of referral generation amongst members of a business development network or referral group. His study found that the longer an individual participated in a business development network, the greater number of business referrals the person received. Misner said that in fact, the likelihood of receiving 100 or more referrals nearly doubled with each year of participation.
Misner says the following in his article “Do Referrals Happen by Coincidence?” on www.entrepreneur.com: “When it comes to networking, ‘luck’ is where persistence meets opportunity. There is no coincidence about repeat referrals. It comes from the day-to-day activities of building relationships. Although it can't be measured as easily as tracking cold-call ratios, the results are dramatic and almost never coincidental. Repeat referrals happen because you've laid the groundwork through professional relationships.”
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