This story originally appeared on GOBankingRates

“It’s not what you know, it’s who you know” is one of the oldest sayings in business. Often, your ability to bring real value to your company hinges on how well you build and leverage your personal network of relationships. And when you aren’t doing a strong job of networking, you ultimately cost yourself, and your business, money.

Related: 21 Time Management Hacks Successful People Do Daily

Without strong networking skills, you might be missing out on the shared knowledge and tips about opportunities that simply aren’t available through normal channels. Be it a promising lead to a new business opportunity or a subcontractor who is more skilled than her peers, you can end up paying more and earning less if you’re not building the right relationships.

Click through to see how networking can be the first step in successfully climbing the career ladder.

(By Joel Anderson)

https://www.entrepreneur.com/slideshow/311944