WTF! Walk The Floors - Episode #90 "The benefits of networking in hospitality."

Summary

This video features Michelle Klein and Stephanie Ledger discussing effective networking in the hospitality industry. They emphasize the importance of building authentic relationships over transactional exchanges. The conversation highlights strategies to excel at networking, including planning, targeting key people, and maintaining connections. They also address the differences in networking across industries and the value of starting early. The episode concludes with personal experiences and tips, encouraging viewers to cultivate meaningful professional networks that go beyond just exchanging business cards.

Takeaways

• 😄 Smiling is important when starting a conversation, especially in a virtual setting, as it sets a positive tone and helps in building better guest experiences.
• 🔗 Networking is defined as the action or process of interacting with others to exchange information and develop professional or social contacts.
• 🚫 Networking should not be transactional; it's about building relationships rather than just exchanging business cards or immediately going into sales mode.
• 🤔 Different industries, experiences, and age groups can shape one's perception of networking, and it's important to recognize these differences when engaging in networking events.
• 📈 Networking is crucial in the hospitality industry as it helps in career progression by opening doors, sharing opportunities, and getting support from decision-makers.
• 💡 Starting to build a network early in one's career is beneficial, even if you feel you don't have much to offer; your perspective and age group are valuable.
• 🎯 To excel at networking, focus 80% of your effort on expanding your network beyond your immediate circle, and only 20% on maintaining existing relationships.
• 💭 Be prepared and strategic about networking. Plan who you want to meet, have conversation starters, and be intentional about building meaningful relationships.
• 🔁 The cycle of giving is important in networking. Instead of just taking, consider how you can be beneficial to others before you ask for something in return.
• 🗓 Follow up after networking events to continue building relationships. Use reminders to check in after a certain period, share relevant information, or invite them to future events.

Q & A

What is the definition of networking as provided in the script?

Networking is defined as the action or process of interacting with others to exchange information and develop professional or social contacts.

Why is networking important in the hospitality industry?

Networking is essential in hospitality because career progression often hinges on your network to open doors, share opportunities, and promote your name among decision-makers.

How does networking differ across industries according to the speakers?

Networking in hospitality is more social and relationship-driven compared to industries like finance or law, where the style, setting, attire, and interactions can vary significantly.

What percentage of networking should be focused on people outside your immediate circle?

Eighty percent of your networking should focus on people outside your immediate circle to build a broader network, while twenty percent should be maintaining existing relationships.

How can someone excel at networking in the hospitality industry?

To excel at networking, one should be strategic, focus on building relationships rather than transactions, plan conversations, and continually follow up to nurture connections.

What are the four golden rules of networking mentioned in the script?

The four golden rules are: push past the fear of feeling awkward, be open to connecting with people different from you, be prepared and strategic, and always continue the cycle of giving before making an ask.

Why should someone avoid focusing solely on transactional networking?

Transactional networking limits the depth of relationships. Networking is about building meaningful, long-term connections rather than simply exchanging business cards or trying to close deals immediately.

What advice is given for introverts who find networking difficult?

Introverts are encouraged to push past their fear of awkwardness, plan conversations in advance, and focus on building meaningful relationships at a comfortable pace rather than forcing interactions.

Why is it important to network with people who are different from you?

Networking with diverse individuals broadens your perspective, helps you learn new things, and expands your network in ways that wouldn't happen if you only connected with similar people.

How should one follow up after a networking event?

After a networking event, it's essential to follow up by staying in touch through emails, LinkedIn, or sharing relevant information. Setting calendar reminders can help maintain the relationship without being intrusive.