When it comes to finding a job, finding a plumber or even finding a good deal at a local store, your network is one of your greatest resources. Your friends and family can often help you solve a problem or complete a project. But just what is that network worth to you? It may not be possible to put a dollar value on your connections, but there a few options for deciding just what your network is worth — and if it’s worth adding to.

Time is Money

Building and maintaining a network can be very expensive in terms of time — although it generally costs nothing in money, aside from an occasional lunch out with friends. You can generally coast on the amount of time you spend with your friends and family: your network won’t expand significantly, but you will have very valuable connections among friends and family. But if you’re expecting to need to draw on your network — like for an upcoming job search — it may be time to make an investment in your network.

Even a few hours can make a big difference in your network, as long as you have a plan on how to use those hours effectively. There are so many different ways to build a network that deciding in advance how you’ll use your time is crucial. You could attend local networking events or work on national contacts through social networking sites: your opportunities are endless, but your time is not. It’s crucial to weigh how you will invest your time, just as you consider your options when making a financial investment.

Focused Networking

When networking, you have the option of casting a wide net and seeing who you can meet. The alternative is to target some group specifically. If you were looking to change careers, for instance, you might want to meet as many people in your new career as possible — you could be looking for advice on where to start, industry connections and other value that such professionals have to offer.

Depending on who you talk to, each option is incredibly valuable. Having a very targeted network can really help you if you have a specific project in mind, while having more variety in your network means that you might see some more original ideas on how to achieve your goals and complete your projects.

Networks Versus Relationships

There is one clear indicator of value when it comes to networking: do you have connections or friends? If you have lasting relationships with the individuals in your network — if they know that they can come to you for help, just as you can go to them — they’ll prefer to have a relationship with you. But if you’re just aiming to build the biggest Rolodex in the city, your contacts really aren’t going to be so interested in helping you down the road. Building a relationship takes time, but it’s far more useful than just making contacts ever will be.

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