4 Rules for Managing Your Network 23 September 2009 AusBiotech Breakfast Tim Kastelle

Network Analysis Network analysis can describe all of these examples statistically It is a set of tools designed to describe the structure of networks, which consist of a set of nodes and a set of connections. Up to a point, the more connections you have, the better flows are (of information, for example) However, connections are expensive to maintain So managing a network involves trading off the cost of building links against performance

Network analysis can describe all of these examples statistically

It is a set of tools designed to describe the structure of networks, which consist of a set of nodes and a set of connections.

Up to a point, the more connections you have, the better flows are (of information, for example)

However, connections are expensive to maintain

So managing a network involves trading off the cost of building links against performance

Exchange Network ($)

Problem Solving Network (knowledge)

Medical Research Collaboration Network (knowledge)

Rule 1 – Don’t think ‘networking’,

think ‘network structure’

Friends – 111 Facebook Average ~ 100

Friends – 75 Facebook Average ~ 100

Friends – 1,320 Facebook Average ~ 100

Friends – 2,178 Facebook Average ~ 100

Rule 2 – Be a HUB

Problem Solving Network

Problem Solving Network

Rule 3 – If you can’t be a hub… QLD Medical Research Collaboration Network

… be a BRIDGE QLD Medical Research Collaboration Network

Links Venture Capitalists with people that need capital

First Tuesday Meetings in the Bay Area & London work well:

First Tuesday Meetings in the Brisbane didn’t work as well:

Rule 4 – Link to firms (people) that aren’t like you And so on…

4 Rules for Managing Your Network Don’t think ‘networking’, think ‘network structure’. Be a hub. If you can’t be a hub, be a bridge. Link to firms (people) that aren’t like you.

Don’t think ‘networking’, think ‘network structure’.

Be a hub.

If you can’t be a hub, be a bridge.

Link to firms (people) that aren’t like you.

The problem within firms…

Thank you! http://timkastelle.org