Networking Strategies for Entrepreneurs
December 12, 2019
Both starting a small business and ensuring its success requires a ton of personal investment. But that investment isn’t just limited to cash—you’ll also need to invest your time, energy, and attention into promoting your company and building a professional support system. Business networking strategies are the best way to start in on this intangible, but crucial, investment.
Realistically, your reasons for business networking will shift during the life of your company and your career as an entrepreneur as will your networking strategies. As a small business owner, you might want to network to publicize your product or service, find a mentor, establish yourself as an expert within your field, seek investors for business financing, discover opportunities to invest in other businesses, or simply connect with other professionals in your industry.
Whatever your professional goal is, walking into a trade show, conference, or any other business networking event at which you’re expected to mix and mingle and impress and schmooze and sell your vision and convince people of your awesomeness can be… a little overwhelming.
Deep breaths. You’re far from the first person who’s felt a little stressed out by the prospect of developing business networking strategies.
Before you head out to your next networking event, consult this list of business networking strategies provided by small business owners and other networking pros. By following these tips, you’ll be better able to promote your business, create real and lasting connections with other professionals, and even have fun while you do it.
What Are Networking Strategies?
When it comes down to it, networking strategies are simply taking a strategic approach to making professional connections and contacts. But it’s about more than simply meeting someone and exchanging business cards—those connections have to be fostered and turned into business relationships.
Remember that people who are networking are looking to have a business relationship that’s mutually beneficial; they don’t want to feel like you’re using them or taking advantage of your connection with them. It can be a sharing of information or skills. Small business owners can find it especially helpful to network with other small business owners so they can learn from each other’s mistakes and save time and a headache while they’re at it.
Business Networking Strategies to Set You up for Success
Try these networking strategies next time you’re at an event—or even when you’re just at your local coffee shop. After all, you never know what connection might lead to your next big opportunity.
1. Take every opportunity to meet new people.
“The most important lesson I’ve learned in networking (and which I wish I’d known years ago) is to take every opportunity possible to meet new people. Don’t dismiss a single soul—you never know who you’re talking to, who they might know, or how they might be able to contribute. As my father always told me as a kid, ‘It’s not what you know, it’s who you know.’ That statement has proven so true, especially in a business networking setting.”
—Lori Cheek, founder and CEO of Cheekd and Networkd
2. Focus on how you can help.
“People often go to networking events seeking individuals who can help them. But I think this is the wrong approach: Networking is all about helping others. Engage in meaningful conversation, share your interests, and see how you can offer your resources to the other party.”
—Anayet Chowdhury, cofounder of ArgoPrep
3. Go alone.
“I find that it’s best to go to networking events alone so you’re forced to talk to new people. I also think it’s wise to do your homework in advance. If the attendee list is publicized, make note of who you’d like to meet beforehand.
It may seem scary to go on your own, but remember that everyone is there for the same reason—they all want to make new connections. So don’t be shy; just walk up and introduce yourself! The only thing you have to lose is an opportunity.”
4. Don’t forget your business cards.
“Never, ever leave home without your most essential, ‘old-school’ networking tool: your business card. Even in the digital age, business cards are still the single fastest way to share who you are, what you do, and how you can be contacted.”
5. Be sure to meet people in other industries, too.
Sticking with what you know has its place, but meeting people from other industries can be highly rewarding for your business and career. We’re an ed-tech industry, but we’ve recently invested in and partnered up on amazing projects in the entertainment industry after meeting impressive individuals at networking events.”
6. Outline your objectives and target networking audience.
“In the early stages of my business, I was fumbling with networking and obtaining leads. But then I thought: I have a business plan and a marketing plan—so why not draft a strategic networking plan? I outlined my objectives, my target networking audience, the type of events I wanted to go to, and a budget. I encourage anyone, especially those going through a career transition, to create a networking plan. It’ll help you navigate that new environment with purpose.”
—Michelle Ngome, founder of Line 25 Consulting
7. Network with your customers.
“Put yourself wherever your customer is, whether that’s networking in person at trade shows, or virtually through online forums or social media. Either way, connect with your customers on their home turf and hear them out on their pain points. That way, you can better design your business or service to solve those problems.”
—Erica Wassinger, cofounder of The Startup Collaborative
8. Ask for introductions.
“People you already know can be the best resource for meeting new people in your industry. I typically send an email to 50 to 100 people already on my list, bcc everyone, and just write from the heart—I ask for feedback, make announcements about my business, or just plain catch up on the latest thing I’m working on. And always end your note with an ‘ask.’ I shamelessly plug that I’m looking for funders, product developers, and word-of-mouth referrals. So far I’ve yielded all three, just by emailing my existing network.”
—Orion H. Brown
9. Be kind.
“Prospective customers and jobs can come from anyone, anywhere, at any time, so always be on your best behavior. Focus on making friends with people before you need them for their connections—you never know who is in, or will be in, a position to help you out down the line.
A few other networking tips: Remember to bring plenty of business cards, don’t try to monopolize anyone’s time, send follow-up notes to the best prospects, and don’t get into political discussions with people you don’t know!”
—Paige Arnof-Fenn, founder and CEO of Mavens & Moguls
11. Listen more than you speak.
“It may be tempting to get as many words in as possible, but I’ve found it’s a much better strategy to focus on the quality of your words, not the quantity. That way, everything I’m saying is worthwhile, and, more importantly, it lets the other person fill the empty space. People are much more likely to remember an engaging conversation than a single thing that someone told them.”
—Jerry Haffey Jr., president of business development at Ambrosia Treatment Center
12. Connect on non-business topics.
“It’s much easier to build successful business relationships when you connect with people on a deeper level than simply business.
Most successful networking experiences I’ve had began with topics that weren’t work-related at all, like hobbies or book recommendations. Even when at a business event, be willing to share what you’re truly passionate about.
Once you establish common ground, you can build a strong network of friends and experts in diverse fields. With that common ground, you’ll feel comfortable asking for advice when you need it, and you’ll be happy to offer your advice in return. All in all, networking is about building trust, and giving as much as receiving.”
—Rune Sovndahl, cofounder and CEO of Fantastic Services
13. Make the first move.
“When I was just starting out, I reached out to anyone and everyone who would take a few minutes to share their story with me and listen to my pitch. It was so helpful for me to get an idea of what it’s like to be a business owner, and I received some excellent feedback on my business model and product.
When I reached out to those experts and small business owners, I was straightforward about my inexperience and my desire for help. I think my honesty made people even more willing to chat with me and share their advice.”
—Ally Compeau, founder of Woof Signs
14. Don’t expect immediate gratification.
“Don’t get discouraged if you don’t meet people who can immediately help you. Many of the most valuable network leads I’ve gathered came from people who remembered me, then later introduced me to people they knew who would be beneficial for my business.”
—Orion H. Brown
“There’s a saying in business that ‘People do business with people.’ It’s important to remain professional at networking events, but you should try to approach everyone with a kind and informal attitude. People may be slightly put off if you’re overly formal or stiff. And everyone there is looking to make new connections and gain valuable insights from each other. So, eventually, something will naturally come up in conversation that you’ll find relevant and useful. (This is especially likely if you researched the attendees in advance.) Just relax, enjoy the event, and the right insights will come your way.”
—Steve Pritchard, HR consultant at AngloLiners
“Nervous? Keep on networking. Socializing is like a muscle; the more you do it, the stronger your socializing skills become.”
—Jason Patel, founder of Transizion
18. Focus on building relationships.
“Networking should not be mistaken for the face-to-face version of a ‘cold call.’ Instead, focus on building relationships and adding value to those relationships. Whether you’re just meeting someone or following up with an existing contact, ask yourself the magic question: ‘How can I help you?’ By making it about them and not you, you’re more likely to build the trust needed to sustain a working relationship and add value to those relationships. Ultimately, you’ll get as much as you give.”
—John Baker, chief technology officer, DeployBot
19. Keep in touch.
“Following up is absolutely key in networking. Boomerang on Gmail lets you schedule emails and set reminders in case people don’t respond to an initial email. If you just met someone and want to keep in touch with them, schedule an email that asks how they’re doing, and offer a chance to meet again when your schedules free up. This keeps you from writing emails in real-time when time is of the essence. It’s a big time-saver.
Also, connecting on LinkedIn is a no-brainer. Don’t have a LinkedIn? Take 30 minutes to create a profile. It’s free.”
20. Schedule time to network.
I hear the excuse that there’s no time to network from many women. They can’t go out for dinner or attend networking events after work most nights. My answer is to schedule time on your weekly calendar for a coffee or lunch and then reach out to people to meet you during the workday. Be strategic about which evening events are worthwhile for you and try going to one or two meetings to assess if that organization is one that will expose you to new people.
By Yaseen Amod of Ideasvoice SA