Henry Wong’s Three Laws of Networking

Three Networking Laws

In the marketing world, they say it’s not about who you know; it’s about who knows you! As a real estate agent who relies heavily on my network to close deals in Brisbane and beyond, I’ve applied this statement to my entire career. You know what – it’s had a huge positive impact!

A turning point in my networking journey began when I joined the South Brisbane chapter of BX – Business Networking Reimagined.  It wasn’t long before I was made Member Experience Officer. In that role, I helped us become recognised as the Bx Group of the Year in 2023. We were officially the fastest-growing group in the whole organisation for that year. I’m really proud that I was voted ‘People’s Choice Member of the Year’ by my peers across the organisation, which includes over 2000 members in Australia and New Zealand.

These accomplishments didn’t just happen out of the blue. I worked hard at them and applied my networking skills to achieve them. Above all, I meticulously applied what I call my “Three Revolutionary Laws of Networking.” These three laws have been pivotal in expanding my professional network and helping my career take off.  I want to go over them in more detail for you today, firstly in the video below and then in a quick write-up.

Let’s go into a bit more detail on those three laws of networking:

1. Pay for Their Product or Service:

In the attention economy, the most valuable currency is attention. When I choose to invest in someone’s product or service it’s a statement of belief in their value that creates a powerful psychological bond. Paying for a service, be it a coffee from a local café or a full-fledged home staging service, opens up avenues for deeper, more meaningful conversations. It’s a gesture that says, “I value what you do, and I trust you.” This fosters a relationship where they’re open to valuing and trusting what I offer.

2. Refer Paying Clients to Them:

Nothing says ‘I believe in your business’ more than referring a paying client, which is why I’ve always strived to connect members of my network to potential clients. This not only helps their business grow, it also cements my reputation as a value-providing networker. Do this, and your network will begin to understand your referrals are more than leads – they’re opportunities. It’s helps a network turn into a thriving ecosystem where everyone benefits.

3. Identify Something of Value and Continuously Add Value: 

The third law is all about continuous value addition. When interacting with my peers I actively seek out what is valuable to them. It could be things like market insights, industry trends or personal development tips. I make a point to share relevant information, resources, or connections they will see as beneficial. I open that pipeline of information, and I keep the tap running! By doing this, you become a well of value to someone. You enrich their lives and become a valued ally in their professional trajectory. 

So to sum things up, these three networking laws have been my compass in navigating the world of business relationships. They’re more than strategies to me -they’re a philosophy underpinning how I nurture my relationship in this attention economy. I hope they can help you too – always remember, the key to effective networking isn’t just in making connections; it’s in making connections that matter.

Until next time, Henry.