Networking: beyond the business cards.

• Author: Paul, Ken

You return from a CPE program and begin to empty your pockets. As you toss out a couple of receipts and some change, you also find several business cards. The problem is, you can't remember who the people are or why you have their cards. You vaguely remember having conversations with these individuals, but you can't match the card to the person for the life of you. Not knowing what to do with the cards, but fearful to just throw them away, you toss them in your desk drawer with the other hundred cards you've collected. Could it be there is more to networking than just business cards?

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While exchanging business cards is key to making new contacts, the act alone is not "networking." Rather, business cards simply provide the information you need to build a relationship with someone you have met. Relationship building is the essence of true networking. In fact, the term networking is often overused, and actually has a negative connotation in some circles. This is largely due to a common view that it is a shallow act of self-promotion, or simply a way to win new clients. While there is obviously nothing wrong with winning business from someone you meet at a conference, networking is more about the formation of mutually beneficial and sustainable relationships, and building social capital.

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Social capital is not a new concept. It is a term used to describe the often overlooked resources that lie within one's business, professional and personal networks. Social capital is the "who you know" that will help you to excel in your career. The term pops up repeatedly in the works of authors who focus on expanding professional networks. The theory itself surfaced in the mid-1980s, but has been continually developed, and is the topic of Wayne Baker's Achieving Success through Social Capital. While certainly not the final word on the subject, Baker does illustrate two key points to successful networking:

1) Examining and building existing networks.

2) Developing and utilizing personal and professional contacts to build social capital.

Examining your own networks and then figuring out how to expand and use them is the first step to better networking. Once you have accomplished this, you'll need practical ways to implement your plan. Here are suggestions for improving your networks and useful tips on how to actually do it.

Looking in the Mirror

The first step to better professional networks is to take a look at your existing networks. "A simple approach could be tapping into your colleagues' contacts," states John Rosan, CPA, vice president and manager of public funds for Fifth Third. "Relying on your co-workers or just people you know to make that initial introduction and help...