Advertising
Advertising

A 6-Step Guide to Networking for First Year MBA Students

A 6-Step Guide to Networking for First Year MBA Students

296747958_8c15e91e3f

    If you are a first year MBA student, especially if you are at a lesser-known MBA program, networking is going to be an essential component to landing your summer internship.

    Advertising

    Start Early

    If there’s any piece of advice that I would give first year MBA students it’s that your job search stats the day you start school, and if you are really a go-getter even before you arrive at school. There are several reasons you should start early. First off, the later you start, the less leverage you have when you talk to people. When you start later, people know you need something from them and are less likely to help you in the process.  Another reason you should start early is because getting in touch with people can often take time and an early start will save you from scrambling to get things done in a short amount of time. Effective networking as an MBA student is really about planning and an early start will help you formulate a plan.

    Informational Interviews/Research

    Informational interviews are REALLY important to your networking strategy. First off you may have certain impressions of the industry you want to work in and those impressions could be completely off. For example, when I started business school I was convinced that I wanted to work in the entertainment industry. After about 4 conversations with people in the entertainment industry, I realized I had no desire whatsoever to work in that world. Using informational interviews also enabled me to build a network of contacts at Harrah’s (an organization that didn’t recruit at my school) and get to the final round of interviews for the MBA internship program.  Here are a few things that you should keep in mind about informational interviews:

    Advertising

    • Keep it short and sweet, 15-20 minutes tops.
    • Have a list of questions about the company/intern program.
    • Find out what skills you need to develop during your MBA to get hired.
    • Send a copy of your resume to interviewee prior to the interview.
    • Don’t ask for a job.
    • Conduct multiple informational interviews (different perspectives will shed more light on the position and the organization).
    • Send a follow-up note thanking the interviewee for his or her time.

    LinkedIn

    At this point in your career, it’s highly unlikely that you don’t have a LinkedIn profile, and if you don’t, set one up right away. LinkedIn is an essential asset to networking. If you want to find recent MBA graduates or people who have completed an MBA internship at an organization that you are interested in, LinkedIn is a great way to connect with these people. When I targeted Harrah’s President’s associate summer program, I used LinkedIn to identify all of the current President’s associates at various Harrah’s properties and set up informational interviews with all of them.  Thanks to these efforts, when I had my first interview with the recruiter, I was so well-versed about the organization that the first round was a breeze.

    Alumni Networks

    Depending on where you go to school, an alumni network can be a huge asset. When approaching alumni keep the same tips about informational interviews I offered above in mind.  I would recommend you try to reach out to at least one or two alumni a week.  If you connect with one alumni every single month that you are in business school  (i.e. 2 years) and form a solid relationship, at the end of two years, you’ll have a network of 24 solid contacts who can help you.

    Advertising

    Networking Events

    With the current state of the economy there are so many networking events going on that it would be foolish not to take advantage of them. If you do a Google search for networking events in your city, you’ll find a list of events that occur on a monthly or even biweekly basis. I recommend trying to fill your calendar with at least one event a week. Try to make at least one solid connection at each event that you go to.

    Volunteer Work

    In Brian Tracy’s book The Luck Factor, he mentions doing volunteer work as one of the most effective networking strategies ever. While your immediate thought might be soup kitchens and homeless people, there are numerous opportunities to do volunteer work for organizations in your area of professional interest. The most amazing example Brian Tracy gave in this book was how his work as a volunteer for the chamber of commerce eventually led to a committee position, and ultimately connected him to many influential leaders in the community.  As a result of doubling his number of contacts, he doubled his income.

    Advertising

    Social Life

    Your social life can provide another tremendous outlet for networking.  Simply turning and saying “hello” to the person next to you at a bar or lounge can connect you to some highly influential people. As a result of doing this, I’ve met other MBA graduates, real estate developers, and other people who could be of tremendous value in my networking efforts.

    While each of these strategies is effective at different levels, be smart. Use the 80/20 rule and realize that 80 percent of your results will come from 20 percent of your efforts. So rather than trying to do them all and do them poorly, choose the ones that work for you and do them well.

    More by this author

    A 6-Step Guide to Networking for First Year MBA Students Back to School: How to Graduate from College with a High GPA

    Trending in Work

    1 15 Best Entrepreneurs Books to Start Reading Now to Be Successful 2 17 Best Careers Worth Going Back to School for at 40 3 Top 10 Ways to Lead More Effectively with Humor 4 Work Smarter, Not Harder: 12 Smart Ways to Be More Productive 5 15 Personal Goals for Work to Make You Stand Out from Your Coworkers

    Read Next

    Advertising
    Advertising
    Advertising

    Last Updated on June 13, 2019

    15 Best Entrepreneurs Books to Start Reading Now to Be Successful

    15 Best Entrepreneurs Books to Start Reading Now to Be Successful

    Knowledge is power, and you’re going to need a lot of it if you’re going to be able to steer your business to success.

    Without further ado, let’s take a look at the 15 best entrepreneurs books to get inspirations about success and grow your business.

    1. Think and Grow Rich by Napoleon Hill

      This book has been dubbed the Granddaddy of All Motivational Literature, and it was actually the first book that gave a prescription of what it takes to be a winner.

      Napoleon Hill draws from the stories of millionaires like Henry Ford, Andrew Carnegie, and Thomas Edison to illustrate the principles he put forth.

      Get the book here!

      2. The Lean Startup by Eric Reis

        A lot of startups end up failing, but many of these failures are actually avoidable. The Lean Startup provides a different approach that is now being adopted all over the world and changing the way that companies are developed and products are being launched.

        In The Lean Startup, Eric Reis describes what is required for a company to penetrate the fog of uncertainty in order to discover a path to a sustainable and successful business.

        Get the book here!

        3. The E-Myth Revisited by Michael E. Gerber

          In a revised edition of the 150,000-copy bestseller, The E-Myth, Michael Gerber refutes some of the myths that surround starting your own business and shows just how commonplace assumptions can end up getting in the way of being able to run a successful business.

          Gerber succeeds in walking the reader through the steps that occur in the life of a business, from infancy, through the pains of growing as an adolescent, to the perspective of the mature entrepreneur.

          Advertising

          Get the book here!

          4. Rework by Jason Fried

            Most of the business books that you get today will give you the same advice: draft a business plan, study the competition, look for investors, and all that.

            However, Rework shows you a more effective, easier and faster means of succeeding when running a business. By reading it, you’ll be able to know why some plans are harmful, why you don’t really need to get investors, and why you’re better of shutting out your competition.

            Get the book here!

            5. How to Win Friends and Influence People by Dale Carnegie

              This is one of the most successful motivational books in history, selling well over 15 million copies since it was released in 1936. The book is timeless, and it appeals to businesses, self-help startups, and general readers.

              Carnegie believes that a lot of successes come from an ability to communicate rather than having brilliant insights. In his book, he teaches how to value others and make them feel appreciated and loved.

              Get the book here!

              6. Outliers: The Story of Success by Malcolm Gladwell

                Through this amazing book, Malcolm Gladwell is able to take the reader on an intellectual journey through the world of ‘outliers’. He asks the question of what truly differentiates high-achievers.

                His answer to this question is that we tend to pay too much attention to what successful people are like, and less attention to where they are actually from.

                Get the book here!

                Advertising

                7. Rich Dad, Poor Dad by Robert T. Kiyosaki

                  This is the best personal finance book ever written. It tells the story of Kiyosaki and his two fathers; his real father, and that of his best friend (his rich dad), as well as how the two men helped him shape his opinions on money and investing.

                  It refutes the myth that you need to earn high to become rich, and it distinguishes between working for money and having money work for you.

                  Get the book here!

                  8. The Ascent of Money: The Financial History of the World by Niall Ferguson

                    Niall Ferguson, in this book, follows the money to tell the story behind the evolution of the word’s financial system, from the beginning way back in ancient Mesopotamia to the latest occurrences in what he had dubbed Planet Finance.

                    Fergusson also reveals financial history as the backstory behind our very own history, with an argument that the evolution of debt and credit is as significant as the history of technological innovation and the rise of civilization.

                    Get the book here!

                    9. Liar’s Poker by Michael Lewis

                      Michael Lewis landed a job at Salomon Brothers after getting out of the London School of Economics and Princeton within three years, he had risen to the rank of bond salesman, making millions for the firm and cashing out steadily.

                      Liar’s Poker is the amalgamation of these years — a look behind the scenes at one of the most turbulent times in American business. His book is Lewis’s account of an era where greed and gluttony were the order of the day.

                      Get the book here!

                      10. Drive: The Surprising Truth about What Motivates Us by Michael H. Pink

                      Advertising

                        A lot of people see money as the best motivator. Michael pink says it’s a mistake.

                        In this provocative book, he asserts that the secret to high performance anywhere is the need to direct our lives, to learn and create, and to do better by our world and ourselves.

                        Get the book here!

                        11. Getting Things Done: The Art of Stress-Free Productivity by David Allen

                          Outdated methods don’t work in today’s world. In this book, Allen shares some awesome methods for stress-free performance that he has shared with thousands of people all over the world.

                          His premise? That productivity is proportional to your ability to relax.

                          Get the book here!

                          12. The 7 Habits of Highly Effective People by Stephen R. Covey

                            In this book, Stephen Covey presents a holistic approach for overcoming both professional and personal issues. With insights and anecdotes, Covey presents a way to live with integrity fairness, service and dignity.

                            Get the book here!

                            13. The 4-Hour Workweek: Escape the 9-5, Live Anywhere, and Join the New Rich by Tim Ferriss

                              In this book, Ferriss dishes on the tips he has learned from studying the New Rich, a subculture of people who did away with the deferred life plan and mastered time and mobility to developed luxury lifestyles for themselves.

                              If you’re looking to make your way in this revolutionary new world, this here is your compass.

                              Advertising

                              Get the book here!

                              14. Delivering Happiness: A Path to Profits, Passion, and Purpose by Tony Hsieh

                                The CEO of Zappos shows how a unique kind of corporate identity can help deliver a huge difference in the way results are being achieved — by creating a company that values and delivers happiness.

                                Get the book here!

                                15. Losing My Virginity: How I Survived, Had Fun, and Made a Fortune Doing Business My Way by Richard Branson

                                  From Virgin Atlantic Airways, Virgin Records and V2 to Virgin Cola, Virgin Megastores and a wide array of other companies, Richard Branson is the rockstar billionaire that a lot of us want to be.

                                  Branson, however, did business by following a simple philosophy:

                                  “Oh, screw it, let’s do it”

                                  Losing My Virginity is an unusual, borderline outrageous autobiography of one of the greatest business geniuses in the world. Branson and his friends named their business “Virgin” because that was what they were — virgins at the game.

                                  Since then, he’s written his success rules, creating a global business that has no headquarters, no management structure no corporate identity as it were.

                                  Get the book here!

                                  More Inspirations for Entrepreneurs

                                  Featured photo credit: rawpixel via unsplash.com

                                  Read Next