How Much Should You Be Investing In Networking? (Hint: Time = Money)

Interview, Job Search, Networking, Resume and LinkedIn

You don’t have to look hard to find many, many opportunities to network and expand your professional circle. Some activities are free, and some require an investment of money. All will cost you time.

When you think about when you should pay to network, you should ask yourself: Is this something that is worth my time and money in helping me to get a job?

One big mistake people make is assuming that if something is “free,” it doesn’t cost anything. (Click here to tweet this thought.) But your time is valuable, and if you waste your time doing something that isn’t contributing to your job search in some way, you’re taking time away from something else that may be a better use of it.

No matter what, you will benefit the most from making wise choices, so take a look at the following questions. Your answers will help you to evaluate when to invest your time and dollars in networking groups, meetings and events for the best results.

For Groups With Membership Fees:

How many other members will I have access to? Are there enough other members to make this worth my while?

Are the members actively involved, and do they attend the meetings on a regular basis? There may be a large membership, but if you never see them, what good will that be?

Are the members from different business categories? For referral purposes and depending on your job search goals, you’ll want to evaluate if it’s better to join a group containing members from a variety of different industries or if it’s more optimal for you to have a heavier concentration in one particular business industry.

What’s the demographic profile of the other members, and how does this profile support my job search goals? Consider if the group members are in your target market or if they have access to your target market. Do they work at organizations where you want to work? Are they in the industries you’re targeting?

How often does the group meet, and are the meeting times convenient for me? If you aren’t going to be able to make the meetings, then spending money on a membership won’t make sense — plus, you won’t be able to build quality relationships that lead to potential job referrals.

Can I attend a meeting on a trial basis first before committing to the membership fee? You’ll want to see how the group members interact with each other. This will help you understand if the group is a good fit for your needs.

What’s included in the membership fees? Will you have access to other materials, contact lists, sponsorship opportunities and/or educational resources that could benefit your job search efforts?

For Networking Meetings and Events:

Is there a learning component, and what types of topics are covered? Are these topics relevant to your job search efforts? Even if there’s an educational component that isn’t of interest to you, it could still be worth your while if you can meet and have some quality conversations with the right people.

What’s covered in the program? Is there an action-oriented agenda? Nothing is more frustrating than going to a meeting or event and not getting anything out of it.

What differentiates this gathering from other gatherings? They may have a system or process that keeps the members engaged and active.

What’s included in the event or meeting fees? Meals? Learning? Contact lists?

What other costs should I be aware of? (Like parking and materials?)

How interactive and helpful are the other attendees? You can sometimes find out about a particular event or meeting by asking previous attendees about their experience.

Now, What About Social Media?

For job search purposes, the best place to be on social media is LinkedIn.

LinkedIn is a great way to do virtual networking and is essentially “free” from a money standpoint, but it can also be a time-sucker. Investing your time in social media can be well spent if you follow these tips:

Set a limit to the time you spend on LinkedIn and focus on what you need to be doing to enhance your job search.

Update your profiles to include a picture. No one likes to interact with some faceless entity. Your profile is your virtual handshake, and the first impression people will have of you is your picture. Having a picture makes your profile more personal.

Make sure you have a headline that grabs attention. Don’t just be “seeking new opportunities”; include something about what makes you different or how you help solve problems. Don’t get fancy, though. You’ll want to use works that people (especially recruiters) would use to search for someone like you.

Send out personal notes to your connections instead of mass communications that will most likely be deleted. This is something you should do on a regular basis and not just when you’re looking for a job. Building quality relationships takes place over time.

Keep an eye on your news feed to see what’s going on with your connections and interact with them. It’s as simple as “liking” a post or commenting on an achievement. When you engage with your connections, it keeps you top of mind.

Review job openings and if you find something that interests you, see if you can locate someone in your network who can help you or make an introduction to someone who works at that company.

Use your connections to help you penetrate companies you’re interested in working for and set up informational interviews. These interviews can be done on the phone or in person. Although in-person is considered ideal, some people may not be as willing to meet if it takes too much time, so by phone can work well, too.

In the End

Whether you’re investing time, money or both on networking, you have to focus your efforts on ways to get those interviews.

Don’t spend time going to networking events or pursuing LinkedIn without a purpose. Question your costs and benefits so you prevent worthless investments of your time and money for the best networking results.