Founding CEO of LoginRadius, a startup enthusiast and a board member. Helping enterprises secure billions of digital identities worldwide.
Making it big as an entrepreneur is not just about having a brilliant idea or a killer business plan. There’s one other thing that can make all the difference: Networking.
Networking is about building relationships and getting to know the right people. It can allow you to open yourself up to a world of unique benefits and find collaborators, partners and potential investors who can take your venture to new levels of success.
So, whether you’re a startup founder looking to make your mark or a seasoned entrepreneur seeking growth—it’s never too late for you to harness the transformative power of networking.
But how do you build connections that matter? As a CEO of nearly a decade, I’ve listed a few insights from my networking experience. Let’s start with the benefits.
Three Benefits Of Professional Networking
1. You can build personal connections with strategic partners, customers and investors. When you’re building a new business, it’s important to establish connections with people who can help you grow. By meeting and getting to know your partners, you can establish a solid foundation for future collaborations and business relationships. Also, by showcasing your expertise in such events, you can attract new customers and retain existing ones.
2. You can gain better access to hiring opportunities. Networking is about building connections and establishing relationships with people who will support your goals as an entrepreneur. By participating in industry-specific events, conferences and trade shows, you can meet professionals who can connect you with the right candidates. These connections can eventually lead to hiring like-minded employees and even talents for your management team.
3. You can build your personal brand as an entrepreneur. Professional networking provides a platform to develop and enhance your personal brand within your industry. By regularly connecting with professionals in your field, you can establish yourself as an industry expert and gain visibility among your peers.
How To Build A Strong Network: Five Strategies And Techniques
With networking, you have to build and nurture your business connections just like you foster your personal relationships. Here are the five strategies and techniques that have helped me over the years:
1. Participate in networking events.
One of the most effective ways to build a strong network is by actively participating in networking events and conferences. These gatherings offer opportunities to connect with like-minded individuals and industry professionals.
Most of us, at times, also feel intimidated by individuals with high-ranking titles or notable accomplishments. But you must remember that labels don’t define a person’s worth. Always approach networking interactions confidently and treat everyone as equals. The more you engage in genuine conversations, the more you can foster a comfortable and inclusive environment.
Also, pay attention to non-verbal communication like body language. Be mindful of your own, and similarly, observe the body language of those you’re networking with. This can help provide insights into their interest and openness of others to engage in possible networking opportunities with you.
2. Join local entrepreneur groups.
Getting involved in the local business landscape is another great way to expand your network and connect with like-minded individuals in your area.
You can join local business associations, get involved in advisory committees or community groups, attend expos and conferences or even host your own public events. Your local network has the potential to become an invaluable source of support and opportunities as your business grows.
3. Schedule dedicated networking time.
Remember, networking is about taking the initiative and making things happen. Start off by scheduling a dedicated networking time in your calendar.
For instance, you can block off a few hours every week to focus on expanding your network and use it to reach out to fascinating individuals recommended by friends or reconnect with colleagues you’ve always admired. Don’t wait for networking opportunities to come to you—make them happen.
4. Leverage technology for networking success.
Social media platforms like LinkedIn, Twitter and other professional online communities offer vast networking possibilities to connect with like-minded individuals and industry influencers.
You can also use CRM systems and contact management tools to organize and maintain your network. These can be helpful when keeping track of your interactions, scheduling follow-ups and ensuring that you stay connected with your contacts.
Additionally, you can use analytics and tracking tools to assess the impact of your networking activities. They can assist in monitoring things like engagement, responses and conversions.
5. Remember to give more than you take.
Networking is not just about what you can gain for yourself; it’s about building mutually beneficial relationships. Always look for ways to contribute value to others. I usually offer assistance in my community of leaders, share knowledge and make time to guide younger entrepreneurs.
Remember, by being generous with your time and resources, you establish yourself as a trusted and valuable member of your network.
The Two Don’ts of Professional Networking
Networking is not always about making the best connections. It’s a journey that teaches you to adapt to both successes and setbacks. Here are the two major don’ts that you should especially avoid:
1. Don’t put people on a pedestal.
Remember that everyone started somewhere, and even the most accomplished individuals faced challenges and setbacks along their journey. Instead of placing others on pedestals, focus on learning from their experiences and building genuine connections based on mutual respect.
2. Don’t let rejection discourage you.
Not every connection will lead to immediate opportunities or partnerships. I have always accepted that rejection is a normal part of the networking process and have used it as an opportunity to learn and grow.
As you embark on your entrepreneurial journey, remember that networking has the power to help you build genuine and meaningful relationships. Learn to recognize and appreciate the connections that come your way.
Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?
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