Theories of Networking

In today’s interconnected world of conferences, social events and LinkedIn, associates and partners often struggle to expand their networks and wonder how to invest their time in network-building effectively. On the other hand, there are individuals known as “rainmakers” who excel in their work and networking. They effortlessly connect with many people, including those outside their industry, maintaining relationships with former clients, colleagues, and college friends. They make it look easy.

Understanding the dynamics and research behind networks can be incredibly beneficial. The right networks can help develop a robust business pipeline and drive innovation through collaboration with individuals from diverse backgrounds.

The Importance of Diverse Networks

Our natural inclination is toward forming transitive relationships—networks that include people similar to us, such as other lawyers for lawyers. A knows B and A knows C, and chances are B and C also know one another or went to the same law school together. However, transitive networks may lack connectors who bridge different groups, reinforcing existing beliefs and information. The tendency of individuals with shared characteristics to associate with each other, known as homophily, limits our networks’ reach, as connections overlap within the same industry. The phrase “birds of a feather flock together” demonstrates what homophily is about—Think of the cocktail party where all of the law firm lawyers tend to gravitate towards one end of the room, or the event where most of the women chose to sit down at the same table.

Research indicates that diverse networks are incredibly helpful during periods of economic uncertainty. Individuals with a wide range of contacts tend to fare better during recessions, underscoring the importance of network diversity in navigating challenging times.

Strategies for Expanding Networks

The pandemic significantly impacted our networks, causing them to shrink by double digits. This reduction has made job hunting more challenging, hindered career advancement, and increased groupthink in companies.

To counteract network shrinkage, one strategy is to reconnect with dormant ties—people we previously knew and liked but haven’t interacted with in a while. Dormant contacts can offer unique perspectives and opportunities due to their experiences since our last interaction. Reaching out to these individuals can lead to valuable advice and new opportunities.

Research also suggests that somewhat weak ties, as opposed to strong ties, may be even more likely to lead to job opportunities. Weak ties expose us to new information and connections outside our immediate circle, expanding our chances of finding new opportunities.

Conclusion

Our networks are potent assets that significantly impact our personal and professional lives. By understanding network dynamics, fostering diversity in our connections, and leveraging the strengths of diverse, dormant, and weak ties, we can enhance our networks and unlock new opportunities for growth and success.

This is especially crucial for lawyers developing business, as a strong and diverse network can lead to new clients, valuable referrals, and enhanced professional reputation.