One of the biggest mistakes many executives make is neglecting their business network. The constant refrain of “too busy” often leads to missed opportunities in forging strategic relationships. Executives fail to invest in networking, skip industry events, and don’t leverage tools like LinkedIn effectively. This lack of strategy can be detrimental, especially when the time comes to lean on your network for support during critical career transitions.

Networking isn’t something that happens overnight. It’s a long-term commitment to building industry relationships, nurturing connections, and establishing rapport with those beyond your immediate circle. It requires an intentional investment of time, effort, and follow-up. Yet, many professionals fail to approach networking with the necessary strategic mindset.

The Time and Effort Investment

To forge the kinds of relationships that pay dividends, executives must invest in their network. This investment involves:

  • Time: Attending events, setting up meetings, and engaging with people on a regular basis.
  • Follow-up: After meeting someone, it’s essential to maintain the connection by staying in touch.
  • Strategy: Identifying key industry leaders, corporate headhunters, and influencers outside of your current industry can open new doors.

Many executives fall into the trap of being “too busy” to nurture their network. When they find themselves needing support, whether it’s for a new career move or a business opportunity, the relationships aren’t in place. This is a common pitfall. Successful networking is about building those bonds long before you actually need them.

Expanding Your Circle of Influence

A well-rounded network extends beyond your immediate industry and role. To ensure your network works for you, consider the following:

  • Diversify your network: Establish relationships across industries, especially if you anticipate making an industry shift.
  • Build long-term connections: Relationships with corporate headhunters, for example, can take months or years to develop but are crucial for securing high-level roles.
  • Strengthen personal connections: Maintaining ties with friends and business colleagues is often overlooked, yet these connections can be just as valuable.

With the advancements in technology and platforms like LinkedIn, there’s no reason to let those relationships fade. Thought leadership posts, sharing industry insights, and engaging with your network on social media platforms are easy, effective ways to stay connected and on top of mind.

A Proactive Networking Strategy

So, how do you build a networking strategy that delivers results?

  1. Attend events regularly: Make it a point to attend key events—monthly or quarterly. Push yourself to go beyond your comfort zone and seek out gatherings you wouldn’t typically attend.
  2. Leverage introductions: Warm introductions are powerful. Consider how your current network can connect you to new people, and what value you bring to those relationships.
  3. Commit to follow-up: Networking isn’t just about meeting people—it’s about staying in touch. Follow up after every event or meeting to nurture the connection.
  4. Strategic positioning: Identify the groups or clubs where your target network members socialize or conduct business. Position yourself in these environments and actively engage.
  5. Deliver value: Networking is a two-way street. Think about how you can bring value to others before asking for anything in return.

The Long-Term Benefits

Over the years, I’ve made a significant investment in strategic networking. Today, I’m fortunate to have a strong business network and regularly touch base with key people. The rewards are undeniable—referrals, invitations to events, and opportunities to participate in powerful boardroom conversations. Every week, I receive at least ten invitations to high-profile events, and I’m regularly invited to join important discussions at board level.

But this didn’t happen overnight. It’s the result of years of building trust, delivering value, and fostering meaningful connections.

The Challenge

I challenge you to reflect on your current networking strategy. What is your philosophy on networking? Are you achieving the results you want from your network? More importantly, what steps will you take to build a strategic networking plan for the year ahead?

Start by identifying where you want to be and who you need to connect with to get there. Forge relationships, attend events, and use tools like LinkedIn to engage with industry leaders. Remember, networking isn’t a one-off task—it’s an ongoing commitment that will pay dividends over time.