A recent study analyzing 2 billion LinkedIn connections across 7,000 publicly listed US-based companies found a strong link between robust networks and valuable innovation patents.

Companies whose employees maintained strong industry connections consistently produced more scientifically and economically valuable innovations. This illustrates how modern technology can amplify traditional networking, leading to significant business outcomes.

“Networking is an investment in your business. It takes time, and when done correctly, it can yield great results for years to come.”

– Diane Helbig, internationally recognized business and leadership development advisor, author, and award-winning speaker.

While the advantages of collaboration are clear, many professionals often struggle to establish and maintain meaningful networks. Here’s what it takes to build a trusted network that fosters business success.

Going alone? Here’s what you’re missing

When faced with a problem, do you seek out someone who has already solved it, or do you try to figure it out on your own? While humans are naturally capable of independent problem-solving, innovation thrives when we build on the work of others.

Collaboration helps us avoid unnecessary mistakes and accelerates progress by leveraging existing solutions. Inspired by this, communities exist across almost all industries, offering invaluable resources and support. This includes Y-Combinator for startups, AIChE for chemical industry safety, and EIT InnoEnergy for renewable energy2. These groups all thrive because members prioritize reciprocity, often at little to no cost, for the benefit of all.

Ultimately, by tapping into the knowledge and experience of others, you can focus on creating truly novel solutions instead of reinventing the wheel.

The collaborative advantage: Unlocking opportunities through partnerships

Consider Nokia and Blackberry. Both companies were pioneers in mobile technology, yet missed the smartphone revolution because they focused on hardware innovation and failed to embrace software partnerships. In contrast, companies like Apple and Google thrived by leveraging the power of collaboration.

Another famous example is Apple’s collaboration with Intel. After Intel partnered with Apple to supply its superior processors to Apple’s flagship MacBook line, it laid the foundation for Apple’s growth and success in this market segment.

These examples demonstrate how strategic partnerships can unlock new expertise, resources, and markets to drive transformative business results for both partners.

Trusted networks: The real value of relationship

The true value of a network isn’t measured by its number of connections but by the quality of trust, mutual respect, and the willingness to collaborate within it. In this context, respect means appreciating the contributions and expertise of others. Reliability is the result of network members fulfilling their commitments on time. If the network members are willing to share, it creates an open environment where everyone benefits. These are the key ingredients of a successful trusted network and are vital to fuel successful businesses.

Whether your network is a reliable foundation for success also depends on how others perceive its values. Being associated with a network with questionable ethics or conflicting values could harm your reputation.

Consider business leaders like Daniel Ek, founder of Spotify, who used his networking skills to overcome resistance from major music labels to enter the music streaming business. Or, Richard Branson, whose ability to forge strategic partnerships has driven the success of Virgin Group’s diverse businesses. These leaders didn’t just build networks—they created trusted, mutually beneficial relationships that propelled their businesses forward.

How to build and maintain a trustworthy network

In the past, networking was often limited to face-to-face interactions. However, digital platforms have made it easier to build widespread, high-quality networks. Despite this change, the core principles of trust-building remain the same.

To move from a contact to a trusted relationship, offer something of value—whether it’s your knowledge, expertise, or access to your network. Trust grows when you reliably deliver on commitments, show mutual respect and authentic behaviors, and genuinely support the success of others. Seeking and providing regular feedback can further deepen these relationships and promote mutual growth.

Follow up with new contacts through personalized messages to reinforce the value of your connection. Maintain these relationships through regular updates, meetings, or casual check-ins, demonstrating your long-term commitment and reliability.

Another key aspect of networking is positioning yourself as a go-to resource. Offering help without expecting anything in return fosters goodwill and strengthens your network.

To further expand your network, conferences, seminars, and local business events can be excellent opportunities. Engage on professional social media platforms like LinkedIn to connect with industry leaders and specialists across the globe, share insights, and stay informed about trends.

Remember, trust takes time to build, but can be lost quickly through inconsistent or disappointing behavior.

Leverage your network for long-term success

In today’s competitive landscape, a trusted network is essential for success. Whether you’re seeking solutions, forming partnerships, or identifying new opportunities, your network can provide you with the support and resources needed to succeed.

Building a strong, trusted network requires time, effort, mutual respect, reliability, authenticity, and the genuine willingness to support others’ success unconditionally. Success is rarely achieved in isolation. By investing in your network, you are increasing your access to valuable insights, solutions, and opportunities that can propel your business forward.

A trusted network is an asset that pays dividends over time, enhancing both personal and professional success. The relationships you cultivate today can open doors to growth, innovation, and long-term achievement. So, take the time to build, nurture, and invest in your network—it’s one of the most valuable resources you’ll ever have.

References: 

[1] Li, S.X., Nagle, F. and Zhou, A. (2023). Mapping Organizational-Level Networks Using Individual-Level Connections: Evidence from Online Professional Networks. Social Science Research Network. Available at: https://doi.org/10.2139/ssrn.4555863.
[2] https://www.ycombinator.com/
[3] https://www.aiche.org/
[4] https://www.innoenergy.com/