The Power of Networking
Regardless of what industry you’re in, networking is a vital skill that every professional should master. On a sunny afternoon in June, 150 of Bay Street’s biggest power players and influencers arrived at The Citizen bar in Toronto to take part in the first Network Wednesdays event series, sponsored by Bay St. Bull. Drinks were had, business cards were exchanged, and two keynote speakers (and past Bull cover features) were present to drive home the message about the importance of networking.
First up to bat was Somen Mondal of Ideal Candidate. Speaking about the importance of hard work and keeping an open mind, he shared an anecdote about the time when he chased down a guy in a Ferrari to ask him how he had become successful. He laughs about it today, but the story serves as a reminder about the importance of listening to others.
Long-term success for Somen wasn’t as much about what he was after, but rather about acquiring the skills and ideas needed in order to get there.
Michael Hyatt, Chairman of Bluecat Networks, was next. He took a different approach than Somen, turning his focus to bigger trends in the business world, in particular how the pace of networking, and society’s engagement in general, has entered a hyper-drive state. He spent time talking about two crucial concepts that every entrepreneur and businessman should keep in mind when starting a company. First, the importance of doing one thing well. In business, success is rarely achieved in big jumps, but rather, small and consistent steps. Second, don’t rely on hope.
It’s your business to know your business. As such, you have to understand the math and approach everything with a plan. Michael then entered into a discussion about the future and how we’re on the brink of a new golden age of innovation.
With computing power becoming exponentially stronger, the path the artificial intelligence (AI) is being paved. And combined with the Internet of Things, Michael predicted that we would soon see huge changes in every profession, including medicine, law, banking and energy. New technologies, like the Tesla battery for instance, will forever change the way we consume energy. Technological change isn’t linear, it’s exponential Michael reminded the audience. The world is changing faster than ever, and we’re all along for the ride.
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