Embracing the networking skills for a start-up
Essence of networking for start-ups/innovators.
“Building a network is about building relationships that are both authentic and generous,” says author Keith Ferrazzi. In business, especially for innovators, startups and entrepreneurs, networking is a vital skill. If you are a good communicator, you can create enduring relationships with people. These qualities will make it easier for you to network with businesspeople from various industries and regions. That makes networking crucial for both new and established businesses.
Know the power of the network you make
Good communication does not necessarily mean you have to be good in speaking fluent English, It means having a positive aura, motivated and enthusiastic spirit inside of you to meet new people and genuinely learn from them, make connections with them which will dwell forever.
3 Takeaways from this blog:
- Make an effort to network whenever you attend a business event, but don’t disregard your local contacts because of the new connections you have made. Treat both domestic and international commercial relationships equally.
- Present your start-up as you would like it to be perceived by the public in order to build a foundation of trust in your commercial relationship. When you go to business gatherings, you should meet new clients, mentors, business partners, and investors and build more and more connections.
- A strong network and relationship are built on communication. So, soon after any business event you attend, get in touch with the new contacts. It can get you a lot of benefits that you would never imagine, like getting you mentoring advice, you can get to meet new investors, can build up your team to make it more stronger etc.
People engage with one another everyday, although they don’t realize it. The most important thing while engaging is that they tend to make connections with those people which are of their kind. I am not saying that this is something bad, but it is also not good at all. Like if we get connected to like-minded people, there would certainly be no growth. Our ideas will be of the same level, there would be nothing challenging.
Human Brains are limited to some extent of thinking due to some certain customs, regional, culture, socio-political grounds. This is why we should meet up and form relationships with those people who are different from us. This will help us to diversify our minds, see the world from a totally different perspective and get dynamic and creative. Same is the case with start-ups and already established businesses. They should always make connections with diversified and dynamic minds, which will help them in getting their idea converted in-to real product and eventually scale up their sales.
Should I tell the secret of successful start-ups and businesses? Well they are the ones who always stay proactive in building their networks. They start building their networks even before they start the business. Because, it helps them with an easy launch and smooth scaling up.
It is not only limited to easy launch and scaling up. But there are innumerable benefits of building connections from an early stage. Some of them are:
1. Personality Development
When we come together, we can make a world a different place, way better than it is. The capacity, the power can be diversified , and can become dynamic if human brains come together. We can uplift each other. We can learn things from others at which we are not good and vice versa. In this way, we can grow one another’s personality, increase psychological capacity and boost confidence in ourselves. Similarly, if we talk about Start-ups, they can build their profile, enhance them with the insights they can take from experienced personalities, bring confidence to their business and gain prosperity.
2. Opportunity and Ideas
When we say connections, whether with experienced or yet to start-up people. Everyone possesses different capabilities and talents. There is always an opportunity, if you work with an experienced person, she can provide you the insights of her rich experience and you can come up with an idea. If you work with a fresher, many unsolved issues will be dwelling in his mind. There are a lot of opportunities, but the thing is you have to make connections with the people to grab those opportunities.
Leverage your network and widen your canvas of opportunities
3. Mentorship and Advice
It is the best part which can come as a result of networking. Mentors are the people who have rich experience in the field you want to work in, which is why there is a lot to learn from them. Mentors can give your ventures, start-ups, or businesses new wings and take it to new heights. They are the best people from which you can take advice and avoid making mistakes which can otherwise prove very costly and dangerous to your company’s fate. This is why you should always be enthusiastic about making connections.
Over 70% of startups fail because of premature scaling. Shocking ? It is because start-ups don’t have the right guidance to start their journey. They are new on this path. The start-ups having proper mentoring grow 3.5X faster and raise 7X more money than those of non-mentored start-ups. That’s the power of a strong network.
The power of networking depicts it clearly that you should meet experienced individuals, who are most needed by your start-up, which can advance your business to next levels. You can leverage social media platforms or attend business events held throughout the world, follow up the leads, meet in person and catch up with friends to get connected and build your network.
You would never find any opportunities, the confidence, drive, exposure, relationships, and pre qualified referrals that you would receive from networking.
Note: The write-up has been taken from the newsletter released by IIITH
