Developing Networking for Entrepreneurs

Many experts agree that people who have networking are the most successful people. Professor Bill Sahlman of Harvard Business School once said that, “All great companies—even those with iconic entrepreneurs—actually have a lot of other people involved and, without anyone, the company probably wouldn't be so big.”

Based on this statement, networking is considered as a very important soft skill for every business professional, especially entrepreneurs. Until now, the failure and success of an entrepreneur is also seen from the number of networks they have.

Benefits of Networking that Help Business

Developing a strong network can provide you with several positive benefits. This will also support the development of your business in the future. Here are some of the benefits of networking that can be obtained.

1. Advice from the Experts

Experienced entrepreneurs can share opinions based on their successes and mistakes.

2. Investation

Relationships with investors can generate capital to start and grow your business.

3. Client or referral

People in networking may be interested in your product or service or know someone who would benefit from your product.

4. Support

According to a University of California Berkeley study, 72% of entrepreneurs have reported having mental health. By having acquaintances with other entrepreneurs, you will find entrepreneurs who have the same problem, allowing you to get support from those who have been through the same thing.

Networking Tips and Strategies for Entrepreneurs

Developing networking is one of the strategies that are needed by entrepreneurs. However, it takes the right strategy so that you find good relationships to develop business potential. The following are tips and strategies that can be used to develop relationships for business people.

1. Find People Who Match You

One of the important things in building a network is knowing what kind of professionals you want in your network. This way, it will be easier to find networking.

There are a number of events, in-person and virtual group meetings that you can take part in. Consider seeking connections of various types, such as location, industry, demographics, job title, alma mater, shared interests, personal and professional interests.

LinkedIn can be a useful medium for identifying networks and interacting with others in the same industry as you. There are also several communities that offer live and virtual support and events.

2. Prepare the Pitch

When meeting new people, you must be prepared to explain your brand in a concise, concise, and clear manner. Meanwhile, situations and conditions when a meeting occurs are unpredictable, so it's a good idea to prepare several versions of the pitch. Make pitches that are one and three minutes long.

If the other person seems rushed, busy and uncomfortable, you can use a one-minute pitch. However, if the other person seems interested and has enough time to listen, you can use a three-minute pitch.

If your meeting is more casual, it will be easier for you to start a conversation and get someone's attention. Practice pitching often, so you're ready to make connections anytime, anywhere.

3. Curiosity and Confidence

The essence of networking is to form mutually beneficial relationships. You don't want to waste time, and energy in an uncertain and unprofitable relationship, so think about what the benefits of being in that relationship are.

Therefore, start thinking about the things you can learn and gain from your relationship with someone. Building and establishing networking is indeed far more varied than determining the benefits of each party. However, curiosity and confidence can allow you to build mutually beneficial relationships.

4. Bring a Business Card and Call

You never know when a networking opportunity will arise—whether it's standing in line at a coffee shop, on public transportation, or just hanging out with friends. Therefore, carrying a business card is one of the best ways you can develop networking in your daily life.

To build interaction, and keep the conversation going, don't hesitate to ask for their business card and call them. That way you will be memorable and the relationship will be stronger.

5. Dedicate Time to Maintaining Relationships

Building a network in the beginning will not guarantee the relationship will last long. To maintain it, you need to dedicate time and effort to maintaining the relationship. Some of the ways you can do this are:

• inquire via email, text message, or telephone
• meet regularly for coffee or meals
• sending greeting cards and parcels on holidays
• attend events they host and invite them to yours
• submit articles or opportunities that you think may be of interest to them and
• ask them questions as they arise

Although it looks simple networking takes time and energy, so the results will not appear instantly. For maximum results you need to continuously hone these skills.