How to cultivate strategic alliances in the workplace

Ahead of the Women in Finance Summit 2024, Money Mentor’s Adele Martin said that a concerted effort to network with her industry peers led to multiple business opportunities.

“I’ve been in financial planning for 25 years. A lot of the opportunities that I’ve got came about because of those connections and relationships that I made,” Martin told ifa.

“It also means that if I want to bounce ideas off someone, I’ve got a close circle of people in financial planning and in the business world that I know I can reach out to.”

Martin initially attended a range of business networking events, including those hosted by BNI Australia as well as some specific to her industry. On top of this, she attended her association and university’s alumni and other local networking events.

“When I went to these events, I made sure I wore my brand colour, which is blue, because that made me memorable,” Martin said.

“I would always have a question ready to ask at the end of any sessions or presentations because that lets you be remembered. If you’re an introvert and don’t feel comfortable talking to everyone in the room, asking a question allows you to meet the whole room.”

Martin explained that these networking events spurred new opportunities. For example, when she established her first financial planning business, an accountant that she had met at a women’s networking event contacted her and offered to share her office space with Martin.

“She ran that event, and I’d told her that I’m starting my own business. This meant that I didn’t have to set up a reception,” Martin said.

“The rent was cheap. I could use her resources. I was able to start my business really easily.”

Martin advised women in the financial services industry to be clear about what they want to gain out of networking events, depending on the industry they are in, and find events that could help them achieve their goals.

“Are you looking for a mentor or peers? Are you looking for potential clients? Do you want to build your profile in your industry? Be clear on what you want because that’s going to help you decide where you need to go,” Martin said.

“For example, because I went to my university alumni event, I got invited years later to speak at one of those events to graduates. That was a great opportunity for finding potential financial planning clients.”

Martin also warned that attending every event could burn them out.

“Early on, I probably attended too many events, which exhausted me. I didn’t realise then that that’s why I was exhausted,” she said.

“You need to be strategic about which ones you attend. If you’re introverted, you might need to take some time for yourself after an event. You wouldn’t want to go into a full day of back-to-back meetings the day after going to a networking event of 200 people.”

Furthermore, Martin advised women to find mentors and coaches who have achieved their desired results and learn from them.

“Talk to mentors who are further along in their career or business than you. When I go to events, I make sure I’m surrounded by people who are smarter than me,” she said.

“Moreover, you may get to a point where it may be appropriate to pay for a mentor and have that professional relationship. I believe you should be respectful of other people’s time and knowledge.”

During her panel session at the Women in Finance Summit, Martin will provide practical tips on how women could capitalise on their professional networks to achieve their career goals and understand the importance of forging connections with industry peers.

To hear more from Adele Martin about how to cultivate strategic relationships in your industry, come along to the Women in Finance Summit 2024.

It will be held on Friday, 15 November at The Star, Sydney.

Click here to book your tickets and don’t miss out!

For more information, including agenda and speakers, click here.

This summit is produced by Captivate Events. If you need help planning your next event, email director Jim Hall at [email protected]