The Mortgage Daily

Most of us have come to the solid conclusion that networking is essential to the health of our business.  But according to Brad Finkelstein networking isn't all about the numbers. Many people believe the more networking they do, the more business they will bring into their office. This belief applies both in the physical and social media realms.

But according to one expert, it is time for a "networking reality check," because the quality of the people you network is more important than the size of your network.

"A network of 10 people who continuously work on our behalf, giving us business leads and career help, is far more valuable than 1,000 people who won't return our calls" says Randall Craig, author and president of Pinetree Advisors, Toronto. "Networking is more than just collecting business cards, adding new LinkedIn Connections or Facebook friends."

He provided some tips on building the quality of your network. First, " Fish where the fish are: Improve the quality of your network by attending events where you will find people who can help you. It could even be at children's soccer games or neighborhood BBQs."

Second, is to ask people you are just meeting for the first time open-ended questions. This, he said, helps you to understand their needs and to find out if you can create a mutually beneficial relationship. Also, ask people you know at the event to introduce you to the people that they know. "An introduction is an implicit endorsement, and highly valuable."

Finally, Mr. Craig said, "Within your network, add the most value to those who could help you the most. This could be done by sending them news clippings, introducing them to people in your network, or giving them business referrals; anything, so long as it is valuable to them. The more you deposit into your network bank, the more you can withdraw later."