The State of The Industry

We are briefly interrupting our series on the Laws of Relationship Capital this month with something that has become a tradition here at The National Networker. Back in 2006 when TNNW was only one year old, I brazenly published the first of my State of the Industry Addresses, which was somewhat humorous as the thought of a networking “industry” was still foreign to many and to some degree existed mostly in my head and the heads of others. Another humorous aspect of the address was that I (a relative unknown) was doing it…why me? Because no one else had before. So once again, and without further ado…

(cue the fanfare, and please, no need to stand or clap)

My fellow networkers of the world, I am happy to report that the Relationship Networking Industry is growing more vibrant and stronger every day!

Now, I understand that there are those who are cynical and need proof for themselves; after all, in this day and age no one likes hype.

For proof, my fellow networkers of the world, we can look to the actions of mainstream corporations like Microsoft, Google, Facebook, News Corporation over this past year in acquiring (and attempting to acquire) social media. We ask ourselves why…

One of the reasons is because Millennials are leading the charge in utilizing social media and developing connections. Another reason is because according to Advertising Age Magazine, corporations spent over $1 billion on word-of-mouth advertising in 2006 and projected an even higher figure in 2007. We ask ourselves why…

Millennials, as well as their older counterparts are realizing that to survive in today’s world, it is crucial to build individual brands for ourselves. Social and business networking (or relationship networking) is the key to building one’s personal brand. In building our own brand, more opportunities await us. To help deliver such opportunities, both online and offline are a proliferation of networks and network utilities in which we can participate. These networks are typically started by those with an entrepreneurial spirit as well as those financiers who believe in their visions. Other networks in which we can participate have been around for some time, but represent enterprises of common interest, like the Rotary and Chambers of Commerce.

As a result, recruiters, sourcers and staffers also make use of such networks to find prospective fits for such corporations.

As a result, educational institutions, in their role to develop a workforce that can understand the changing demands of corporations in our transitional economy are developing their own initiatives based upon relationship networking. Look to the work of the Rochester Institute of Technology’s Social Computing Lab for further proof. I am happy to report that through the works of Dr. Susan Barnes of RIT, the first course in Relationship Networking has been submitted for approval by the Relationship Networking Industry Association (RNIA).

As a result, non-traditional, non-accredited education is also beginning to reflect the need for understanding relationship networking, which is typically delivered by coaches, trainers, consultants and others.

So what does this all mean? To me, my fellow networkers of the world, it means that our economy is transitioning and a new industry is emerging. Unlike other industries before it, the Relationship Networking Industry includes a rich, cross-section of stakeholders previously mentioned as well as people like you and me. Why so diverse? Because networking is about breaking down barriers and boundaries – everyone is a stakeholder in the Relationship Networking Industry.

And while these times are changing and can be quite wondrous, they can also be quite frightening…we, indeed, have some serious challenges ahead, my fellow networkers of the world.

The biggest challenge is to minimize the noise and confusion surrounding the growing opportunities to network. For the first time in our lives, we are truly kids in a candy store with unlimited supply of candy and unlimited money in our pockets with which to buy it. As consumers in this new world of overwhelming choice, we must make informed decisions as to where we will best spend our time networking. To avoid complete burnout and/or mistrust, we must take a stand now for a new common language to the way we network.

From the standpoint of those offering networking opportunities the challenges are to: 1.) monetize, 2.) distinguish themselves from the rest, 3.) utilize this common language and 4.) continually provide value. Without, these, such networks are being built upon shaky foundations, which will not endure the test of time.

Fortunately in this past year, I am happy to report the first major effort is underway to develop such a common language on which we can build the ecosystem of the Emerging Relationship Economy: RNIA and their Common Body of Knowledge (CBOK). Through the need to drive a seamlessly-connected Relationship Economy through the quantification, metrification, and proliferation of Relationship Capital we will create opportunities that have never before been seen: new jobs (much in the way the “webmaster” was created after the dot com revolution), monetization and meaningful connectivity.

I am happy to report, my fellow networkers of the world, that as you are reading this companies and other early adopters in support of RNIA and its initiatives are beginning to modify their business plans, products and services around RNIA’s CBOK as the ecosystem that is the Relationship Economy becomes more of a reality.

The rapid acceleration of this industry is leading to a revolution on a global scale. For those fellow members of humanity who currently exist in their own daily patterns of status quo, this will be a difficult time. For them, my fellow networkers of the world, we must reassure them that humanity has the ability to overcome any challenge. Through continual education and the building of strong support networks like Community Weaving and Freecycle we will enable those with the strongest hardships a means to overcome the turbulence.

For in the end my fellow networkers, the fruits of our labors will produce a world where everything we want will be the result of simply building the right network. Building the right network will be a matter of utilizing technology that already exists today, the new language we are developing and the understanding of the nature of Relationship Capital. The time it will take to produce such results will be considerably shortened. The people in such networks will be celebrated for their knowledge, skills, attitudes, backgrounds and experiences, no matter age, sex, race, religion, nationality, location or preference.

My fellow networkers of the world, I call upon you one and all, to ask yourselves some serious questions:

• Where do I fit in to this?
• How will I benefit?
• How will my children benefit?
• How can I help?

I call upon all networkers of the world who resonate with this message to lend a hand and choose to make the world a better place now. Let’s unite and work together to create a world where our children and our children’s children can be proud and live free. Why?

For the same reason U.S. President John F. Kennedy urged us to go to the moon, “Not because it’s easy, but because it’s hard.”

I wish you all an exciting, productive and prosperous 2008.

Next month, we continue with Part 5 of The Laws of Relationship Capital…don’t miss it.

The Emergence of the Relationship Economy

Relationship Capital is the cornerstone of the Relationship Economy, which RNIA defines as an “economic system in which Relationship Capital influences the production, distribution, exchange, and consumption of goods and services.” I am proud to have contributed discussion of the Ten Laws of Relationships Capital to the upcoming book The Emergence of the Relationship Economy, now out as an eBook and on March 1, 2008 in hardcopy. With a forward written by Doc Searls (of Cluetrain Manifesto fame), it is being considered a “must read” for anyone responsible for the strategic direction of their business. If you would like to purchase your own copy of The Emergence of the Relationship Economy, please click here.

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Levittown, PA 19056
(215) 945-3411

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