NETWORKING

Considering how vast the business world is and how little expertise any one person is capable of amassing, one's worth can be approximated by the size (and quality) of one's network. In business, you are only as good as the people you know. It seems such a harsh, cynical statement, robbing each of us of the credit we deserve for our personal accomplishments. Yet, forming complex companies (as opposed to small businesses) requires knowledge, stamina, and capital in excess of what any individual can offer. People who know how to work in teams and leverage their networks are more likely to succeed than individualists.

Networking is more than just collecting business cards at cocktail parties. Networking means getting to know someone well enough to spot opportunities for collaboration when they arise. People have to identify each other's skills and needs.

For scientists, rumored to be riddled with social phobias, networking is far easier than they may imagine. The academic environment is a breeding ground for collaborations and new relationships. If you do not know any entrepreneurs or investors, ask your institution's technology licensing office to introduce you to a faculty member who may have such experience and/or connections. Conferences are about meeting new and old acquaintances, so spend time in the corridors mingling instead of just attending seminars. The people you meet may someday be your colleagues, investors, employees, advisors, co-founders, and competitors. When you finally decide to change career paths or form a company, it will be too late to start networking.

Knowing someone involves more than remembering their face and name. Well-networked people have the discipline to use a database to record not only contact information but also details about the person and the circumstances of the meeting (when/where/who else was there). They find opportunities to interact with the same people on multiple occasions. Like a finger-drawing on a fogged window, a network must be traced and retraced or else it disappears.