By Lou Sokolovskiy
The business world loves aphorisms. And few of those short and witty remarks have been as seductive—or as misleading—as this oft-repeated mantra: “Your network is your net worth.” Often attributed to Porter Gale, a prominent marker and author, the phrase reduces the complex discipline of business development to a simple equation: more contacts equal more value.
But this idea, while catchy, is dangerously incomplete. Networking is not a substitute for strategy. Companies that thrive in the modern economy do not simply collect business cards or LinkedIn connections. They build ecosystems of growth—where networking is one tool, but far from the only one.
Business development is not sales. It is not marketing. And it is certainly not just networking. At its core, it is a strategic discipline, designed to create long-term value by developing new client portfolios, identifying fresh revenue streams, and managing strategic partnerships. As Purdue Global notes, true business development professionals are not just lead generators—they are forecasters, project managers, and architects of growth.
Contrast this with networking, which—even at its best—is a tactical activity. Ivan Misner, the so-called “father of modern networking,” likens it to farming, not hunting: cultivating relationships patiently rather than pursuing quick kills. Important? Absolutely. Sufficient? Hardly.
The peril of overemphasizing networking is that it creates an illusion of progress. Endless coffees, conferences, and LinkedIn “connects” can feel productive. But without strategy, they are often just time-consuming detours.
Consider Juicero, the much-mocked $400 juicer company. It raised over $120 million from a glittering network of Silicon Valley investors, including Google Ventures. Yet all the relationships in the world couldn’t save a business whose product was redundant: Nobody seemed interested in paying $400 to buy a complicated electric juicer while there were much cheaper, easier-to-clean ones.
The problem wasn’t connections. It was strategy. Forbes has reported from CB Insights, 42 percent of failed startups die not from a lack of funding or networking, but because there is simply “no market need.” The AI hiring platform Ansaro collapsed for exactly this reason: its founders could not convince enough companies to change entrenched hiring practices, no matter how strong their connections.
In addition to being incomplete, networking without a robust strategy is costly. Studies show that the average cost per lead from in-person events and trade shows is a staggering $811, while, by comparison, SEO and retargeting cost as little as $31 per lead.
The bottom line? Networking matters. Of course, it does. But it is not enough. A full calendar of coffees and conferences can give the appearance of momentum, but without scalable systems, disciplined strategy, and a clear market fit, they become nothing more than time-consuming and costly endeavors. True business development is about building engines, not anecdotes. It’s about creating repeatable models for growth that endure long after the handshake. True, your network may open doors, but it’s strategy that keeps them from closing.
What do you think? Has networking been overrated in business development, or is it still the most powerful lever? Drop your thoughts in the comments below and make sure to subscribe to our free LinkedIn newsletter if you want more exclusive insights on strategy and growth.
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Sept. 2025
