Monday, November 23, 2009

Networking Lessons from the Law of Contract

One of the first subjects I studied in Law was the Law of Contract. In order for a contract to be a legally binding agreement a number of distinct elements need to be in place:

1. Offer and acceptance
2. Intention
3. Capacity
4. Consent
5. Consideration
6. Legality
7. Possibility

These indicate that the parties have not just discussed a possibility, but have a definite agreement about a desired outcome and the specific things required by each to fulfill this.

There are great lessons to be learned from this in networking. Many people are not really getting the most out of their networking. They are just meeting people and hoping for the best. Success in networking is something that will remain a possibility rather than a probability.

Those that follow a structured and systematic approach to building trusted relationships do really well. They do the things they need to do for others in their network and those others will know what they need too.

It is a good idea to get together with your really good business contacts and find out if you can agree specific things to help you each achieve your business goals.

Dave Clarke
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