Laura Kakolewski

Arrive early. Be Prepared. Wear something memorable. Have a firm handshake.

Recognize these phrases?

These are just some of the common practices that we all know and memorize when trying to get the most out of any in-person networking event.

Each year at the National Arts Marketing Project Conference, I am reminded that networking is both a powerful tool and advantageous activity; some of the most exciting activities the conference offers are the stellar networking events. And the activities in Louisville this year are sure to follow suit.

The conference’s networking events provide attendees with a platform to constantly engage and share fresh ideas while getting to know their colleagues from different sides of the country.

What’s more, they allow attendees to cultivate career-long benefits and create a lasting image of colleagues’ talents as well as their own. And because they’ve been so successful in the past, this year we have carved out even more time for even more networking opportunities in which all conference attendees will be able to participate.

And now with the rise of social media, the word “networking” is no longer exclusive to in-person, face-to-face interaction. The arena of what used to be reserved for face-to-face engagement has expanded to the digital world, having strengthened and expanded beyond its prior capacity.

With the fusion of the internet, networking has now become networking on steroids.

While planning for the 2011 National Arts Marketing Project Conference, you can imagine that I have been thinking about how face-to-face networking has merged with the digital world and become something larger.

So, if this impact is here to stay, then the NAMP Conference should begin flexing its networking muscle now by providing an online networking forum for attendees and presenters to connect digitally prior to arriving in Louisville – like right now!

The solution?

By joining the 2011 National Arts Marketing Project Conference Linkedin Group, you can begin networking, exchanging knowledge and ideas, and connect professionally RIGHT NOW, before engaging with each other on a deeper and more personal level in November.

Whether you are looking for a colleague to share a taxi from the airport to the conference headquarters with, or if you are a first-time attendee seeking advice on which sessions to attend, think of our Linkedin Group as an open forum for YOU to engage with others that are registered and headed to Louisville: Americans for the Arts staff, speakers, and colleagues from across the nation.

Our presenters have already begun to spark the discussion on the group site, so join in!

See you online, and in Louisville!

*Arts Watch is the bi-weekly cultural policy publication of Americans for the Arts, covering news in a variety of categories. Subscribe to Arts Watch or follow @artswatch on Twitter to receive up-to-the-minute news.

2 Responses to “The Power of Networking (from Arts Watch)”

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  2. Neil Ramsay says:

    The Power of Networking. A perspective from Principles of Financial Management: By Neil Ramsay M.S., MFP a Financial Management Professional & Educator.

    This example focuses on networking opportunities for college students; however, the principles apply across various networking opportunities.

    #1. We know from our capital budgeting studies. Present value of a future return (cash flows), is raised by lowering the risk (r) associated with the ability to obtain those future cash flows, or future value. We understand this from the equation…

    PV = FV /(1+r)^t

    … and the relationship (higher r results in lower PV and vice versa). Risk is designated by an interest rate or (r).

    Assuming that the Future Value (FV) of a college education is the job obtained as a result of the degree or investment in education. We can then imply that utilizing the college environment/network to increase the likelihood of landing the desired job (required return) will lower the risk of not achieving the return desired. Another way we can look at it, networking by joining school organizations, professional campus chapters, making professional connections with your professors and fellow students may increase the probability of job placement upon graduation with the degree.

    Engaging in campus networking activities as a college student maximizes the potential returns; thus lowering the risks associated with your investment in college education. We assign lower risk by lowering (r). Using the equation PV = FV /(1+r)^t a lower (r) results in a higher PV.

    We can reasonably now argue:
    Value of Your College Investment Today = Desired Job and Salary / (1 + risk in investment)^t

    This results in a sound strategy (NET PRESENT VALUE (NPV) determination of making a capital budgeting decision) to realize the current position of:

    Value of Your College Investment Today > Actual Cost of Your College Investment.

    #2. FV = PV (1+R)^t

    We know that we may increase our FV by increasing the market return (R) on our investment all else remaining equal.

    We know that we may increase our FV by increasing the Value of our College Investment Today (PV) all else remaining equal.

    We know that we may increase our FV by increasing the length of time (t) we continue to receive our required return (R) on our investment all else remaining equal.

    Based on our statements made in #1. Utilization of college campus networks available as a college student will increase the probability of our Desired Job and Salary, denoted by assigning a higher return (R).

    We established in #1 that these networking activities can provide us lower risk of not achieving our desired return, and illustrated a raised Value of Our College Investment Today (PV).

    Understanding the relationship between Future Value (FV) and time (t), we can argue that utilizing campus networking opportunities could result in the faster placement in a Desired Job and Salary; therefore increasing the time (t) enjoying the desired returns. All else remaining equal: The greater the (t), the higher the (FV).

    Landing the desired job sooner will increase the future value, and result in a higher return on investment (ROI). “Think of it this way” Would you rather earn more $ than you make now p/year for 43 years or 38? You should realize that the sooner you make returns “better job and or more money” the better off you will be.

    #3 Opportunity cost associated with our college investment today is decreased when the activity we are engaging in today, has greater benefits to us than our next best alternatives.

    Networking professionally on campus with college professors, fellow students and in structured organizations has a potential payoff; demonstrated in #1 and #2.

    Therefore our alternative uses of time become less valuable when compared (all else remaining equal) to use of time on a college campus, utilizing networking opportunities for future desired job placement.

    “Think of it this way” Opportunity cost (it’s a type of expense) is lowered by increasing the value of the investment you have chosen versus those you have foregone; in this case, you chose to be a college student, and an “ethical” opportunity that increases the value of your investment should be ceased.

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