Usually, when we embark on a new project that we wish to launch and boost, we seek the guidance, support, and influence of people that might find useful and relevant to the business we're running. But one quest that most entrepreneurs and business owners face is how to network effectively.
In our quest to assist hyper-growing startups, we came across the dilemma of whether networking is still a thing nowadays. And our answer to this question is always ‘YES’. When it is skillfully implemented, networking will help your startup progress and offer you a competitive advantage at each phase of its development.
What is Business Networking, Anyway?
The most common perception of this concept is developing connections with everyone you know in a business setting. But this is not the right definition, it goes beyond that. Business networking is the course of founding an equally valuable connection with other corporate individuals and potential consumers or clientele. It is a notion that encourages you to meet other startup holders, potential contractors, or other experts who have professional skills that might support you while you thrive in your hyper-growing startup. Networking offers you an array of professionals that range from competitors to customers and enable you to present your startup vision to them, expectantly to attain their services, guidance, skills, or links. Expanding your associations as a startup holder and aiding others offers you more than just increasing your potential customers or producing recommendations. Business Networking supports you in recognizing possible partnerships, joint ventures, or innovative ranges of growth for your hyper-growing startup.
How Can You Benefit From It?
“If you want to go fast, go alone. If you want to go far, go with others”. According to the Oxford Economics statistics, business professionals disclose that they will lose 28% of their corporation if they halt networking. Therefore, bringing networking into your business set to benefit from it seems like the right choice. Here are a few tips to fashion a business network and benefit from it to a large extent. Let’s get started:
- Use Social Media Effectively
Cutting-edge technology has empowered us in many ways. The influence of social media is exceeding with each passing day. It is only fitting to use LinkedIn, Facebook, Twitter, Pinterest, and Instagram to increase the online presence and build a strong business network for your hyper-growing startup. Post engaging content about your startup, avoiding self-promotion, being professional, and joining conversations related to your business, will all be very effective approaches to building your online network. According to the author of Socialnomics, Erik Qualman, “Business doesn’t have a choice whether or not to do social media, their choice is how well they do it.” Investing in your social media presence means strengthening your reputation.
- Have a Strategy
Don’t be impulsive while developing your business network, it won’t help, instead, develop strategies to up grow your networking game. Design and formulate your networking tactic, be clear about your business idea, know your target audience, develop inimitable communication strategies, be aware of your surroundings and market ups and downs, and reach out. These tips and tricks may help you to build your networking strategy.
- Pitch Perfect
While building a network and developing connections, having a great business pitch always comes in handy. A perfect pitch can bring appreciated corporations to the table and help leverage your positioning. Once you are out there you will realize business pitches can occur in an extensive diversity of settings. The main tip: be smart with your choice of words and audacious with how you approach your audience.
- Get Out of Your Comfort Zone
Being in the same setting repeatedly for the fear of failure will not bring any connections to your start-up. It is always important to try new incentives and take the risks because that’s how you learn and prosper. Be ready to network everywhere, at an event or a coffee shop.
- Follow up
It is a meek yet vital step in your networking progress. The time and resources you spent connecting with someone new will not benefit your startup if you avoid the follow-up afterward. Don’t send long and heartfelt messages but use social media platforms like sending LinkedIn connection requests with a professional massage to ensure your interest.