
One of the reasons most cited for not starting a startup is lack of network, particularly by those at the beginning of their careers.?
I agree that your network is important and invaluable, but we find that founders seem to struggle to efficiently develop and then use their network. Networking events suck Networking isn?t about events. Networking events enable high frequency, low quality interactions. Maybe you get a business card or a couple more LinkedIn connections, and maybe every now and then you find a new opportunity, but this is un-strategic and typically has a poor time spent to success ratio. Networking is about creating a small number of high-touch connections and leveraging them to build your network.? Put simply, it?s about creating trusted advisors who are willing to open up their contact books to help you out. Even if you do meet someone at a networking event, you?ll need to get one-to-one time with them to develop a relationship.? It?s far more efficient to ask your existing network for targeted introductions to the people you want to meet and then spending one-to-one time with them. The people you want to meet aren?t at networking events Good advisors and investors can be instrumental in helping early stage startups to succeed.? But not all are created equal and it?s likely that the advisors you want to work with have a full diary already. It?s unlikely that they?ll be spending time at random networking events and if they are, they won?t be actively finding new mentees. To be able to access high quality advisors and investors you need a warm introduction from your existing network.? Imagine if instead of putting 3-4 hours into a networking event, where you have brief interactions with lots of different people, you put that time into building relationships with your existing network. The deeper the connections with your existing network, the more likely you are to get high quality introductions from them. Read more tips about better networking:- 4 ways to generate more referrals from your network
- Why business owners need to think of both online and offline networking
- Why you suck at networking ? and what to do about it
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