5 W’s Of Networking

Girlfriends, What are the 5 Ws of Networking?

What is Networking?

Networking is not simply exchanging information between two parties, it involves establishing relationships who over time can become your friends and your business allies. They may be able to help you further build your business or advance your career. Likewise, you would be able to also provide that assistance for them. A good network consists of both give and take.

A network will provide you leads that will grow your business. These could be new prospects that are looking to purchase or refinance a home. They could also introduce a new business partner or even potentially a new team member for you.  A network could also provide information on what is happening inside your field.

Networking is a mutually beneficial relationship for all parties involved. Both parties should build, reinforce, and maintain a trustworthy relationship to further reach their goals.  It is a relationship where someone would do you a favor and you would gladly return the favor.

Who is in your Network?

It turns out you know more people than you think. Start with your family, friends, and neighbors. You can include alumni, past and present co-workers. Are you in an association or club? Think about all those members.  Do you belong to a gym or fitness center, go to a local coffee shop, or shop at a neighborhood store? These people are potential people and are part of your network. Are you involved in a church or religious community? These are even more people that you can add to your network.

These people are all part of your current network whether it is professional or personal. Keep a flowing and active list of the names and contact information in your network. Ask your contacts to introduce you to their contacts and keep that list growing. Remember part of networking is reciprocation. Opportunities are all around you. Always use an opportunity to network.

Now add all your electronic contacts from sites like LinkedIn and Facebook to your list. You can also use any discussion groups, blogs, or forums to network on the internet. This will help not only with potential leads but hot issues in your field.

Why Network?

Networking is important to a loan officer’s success in many ways. You can stay current with industry trends…

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