Thursday, October 30, 2008

Networking.... The guide to unlimited power...

The word network is a most common but least understood word in our day to day vocabulary. Network is something which you built initially and later it builds you.

Let me begin with the definition of a network. Network is a cluster of entities bound together by a common purpose. We have the electric transmission network, which brings power to our households; we have the satellite communication network which brings home entertainment and telephone utilities. If we look around, we can actually see a network behind all successful systems.

All successful personalities for that sake are highly net-worth individual. It’s the secret behind building a fortune out of your life, because it awards the individuals involved, with power beyond our imagination. It is this latent power of networking that helps the rich become even richer.

Let me explain; suppose you start a cable TV operation in your town; you start of by providing connections to around 20 families in the first phase. Surely you’ll be able to sell the service at a cost which gives you a marginal profit. Now suppose you wish to expand the service to 100 families, the moment you go for it – you will be facing the strictest competition from big players like TATA SKY, DISH TV etc. You’ll not be able to match the quality/price provided by these giants and they may even reduce their rates of subscription, without suffering a loss, to throw you out of business.

Networking is a highly misunderstood word in our society. The reason may be because of the numerous ‘get rich quick’ schemes like the money chains and illegal pyramids. Factually speaking the power of networking is indescribable.

There is another fascinating twist about networks. Not only information but money also flows through it. Thomas Edison’s bulb would have been of no market value, if the electricity network was not well established. Edison actually exploited the power of this network to make his business grow. What Edison actually did was to take advantage of an already established network to sell his product. Edison was smart enough to utilize someone else’s network to build a fortune.

Networking is crucial for the growth and sustenance of any business. The same is true when it comes to building and sustaining personal relationships. The better your network of friends, the better will be your lifestyle. We all wish for more and better friends in our lives. We are all interpersonally connected and most often we may find that we’re better off as a network than as an individual.

Like the previous newsletters, this one also has an inspiration behind it. It was a small incident that happened while I was traveling home by train the previous week on someone else’s ticket bought from an agent. During verification by the TTR I was asked for my ID card. I had no other choice but to admit that I was traveling on a wrong ticket. I was fined Rs 550 and I found myself short of money to remit the fined amount. I started becoming tensed.

That was when the power of networking came to my help. I called up my friends who in turn called their friends and enquired who else was traveling by the same train. Fortunately after 15 minutes I got around 8 responses from different people traveling by the same train. I was about to get their help when a total stranger came forward to help me. But the important point was the information had already been passed on to many people within that short span of time. That incident really made me think about the power of networking.

I did not have the strongest network of friends, but my friend had, I could use his network to find a solution to my problem. Now, what do you feel, isn’t it possible for us to solve any problem through networking, just like Edison used someone else’s network to render a great service to our society?

1 comment:

  1. Balu.. with that train incident u might have learned 2 things: one of course the power of networking, second n the most important thing to take proper tickets while travelling...lol...

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