Have you heard of the term "knowledge network." What does it mean, and how does it fit into your business networking efforts?

As a business owner, you need a constant supply of information to achieve success. You must stay aware of trends and issues and keep up with rapid economic and technological changes to become and stay competitive. Your "knowledge network," or what I call the information component of your network, consists of your most knowledgeable sources, the people who can provide you with the knowledge and expertise you need to run a successful operation.

You may have already discovered that it's next to impossible to keep up with all this information on your own. There is simply too much of it, and your own inclinations and time limitations steer you toward some kinds of knowledge but cause you to neglect others. You may be strong in marketing and business planning, but weak in technology and legal matters.

Fortunately, the knowledge you lack is always someone else's specialty, so you can turn to others for help. This is what you are preparing to do when you set up your network's information component--a web of contacts who know and understand what you must do to achieve success in your business and who have the experience to help you achieve your goals.

Step 1: Categorize your information or knowledge network members.

Step 2: Identify your information network members.

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