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When you're starting a business you might feel alone.
You can have an idea that you have a good feeling about, or a product that you're passionate about or a service that has a genuine problem that can be solved. However, there is a time when you need people. You might need a co-founder, a designer, a developer, a mentor, a supplier, a partner or someone who is familiar with the challenge that you are facing.
Networking is where it's important.
However, this isn't only a networking of contacts or internet contacts. The real value is when a talk becomes beneficial.
There is the potential for a new connection to grow into a partnership. A discussion can turn into a (customer) discussion. This founder that you meet today may be an investor tomorrow.
The concept behind a startup collaboration platform is to provide an environment for entrepreneurs and professionals to meet, exchange thoughts and unlock opportunities for collaboration.
Networking Is More Than Just Meeting People
Suppose that there is a Founder, Riya.
She owns a small business selling home goods that are ecological. Her products are of fair quality but her problem is that she is not able to reach more customers. She realizes that she needs to make improvements to her online marketing efforts, but she doesn't have a marketing department.
At a start-up networking event, Riya comes across Aman, a digital marketer who is interested in working with growing businesses.
They begin with an innocuous chat.
Riya tells about her business. Aman describes his job. They share their ideas and agree to meet to talk about a collaboration.
A few weeks later Aman begins to assist Riya in her online marketing
It's now a networking opportunity that has turned into a business opportunity.
The importance of meaningful networking is that it's not about gathering contacts, but rather about building connections.
How Startup Collaboration Creates Real Opportunities
A strong startup ecosystem allows to connect a diverse group of people who have varying skills, experiences and objectives.
One founder might have a fantastic product, but may not have had a ton of marketing experience. Others may be more marketing savvy and require a good product to promote.
These individuals can benefit from connecting with each other.
Here are some of the opportunities that can be facilitated using a startup collaboration platform:
- If your goal is to start a business, you should choose a business partner.
- Finding the right people to join the team and team up.Meeting prospective co-founders
- While finding freelancers and professionals is not difficult, it will require a bit of effort.
- Identifying suppliers/ service providers
- Sharing business knowledge
- Exploring partnerships
- Finding potential customers
- Adopting the best practices of others.
- Getting to know startup events and communities
What is important is that they should be able to collaborate to address an actual problem between them.
Starting with a basic introduction to a business partnership.
Numerous business partnerships that have proven successful start without a proper proposal.
They start off with something so much simpler.
I'm going to ask you to tell me about your business.”
The discussion can result in another discussion. Then there's the little project, the trial, the referral or the shared idea.
If both sides value it in it, the relationship can develop.
A founder of a startup can connect with a web designer, for instance, in a web designer community. They might first go into it with a small website update and then if they are successful, they might hire the designer for the larger project.
Assuming the work was satisfactory, the founder can refer the designer to another business.
The client is obtained for the designer. The founding man receives a dependable pro. There's another business that receives a trusted recommendation.
Multiple opportunities are the result of one connection.
Why Startups Need the Right People Around Them
The founders tend to be very much preoccupied with funding, technology and marketing.
All these are important, but people are more important.
It's not possible for a Founder to be the expert in all things.
A good salesperson is essential for a technology start-up. For a manufacturing business a digital marketing expert might be required. If the app is new, it will require a designer and a content writer. If you are a small business, you'll need somebody who is knowledgeable of online advertising.
That is why it's important to work with others in order to get things done quicker.
Founders don't need to learn and do everything.Rather than learning and doing everything on their own, the founders can find those that have the skills.
Networking and collaboration is also a key element of India's official Startup India ecosystem. As of now, its platform emphasizes the links between startups, investors, mentors and other ecosystem stakeholders, and the BHASKAR initiative aims to facilitate the interaction and collaboration between the various stakeholders of the startup ecosystem.
What Makes a Good Startup Collaboration Platform?
Not all online links are good business links.
The best startup collaboration application should help individuals to connect with connections that are relevant to their start-up.
For instance, founders can locate people according to their interests and skills, their industry and/or business requirements.
The platform should also promote meaningful conversations, rather than unproductive promotional messages.
This may include or be followed by:
Founder Networking
Founders can connect with additional business owners and share experiences and discuss shared issues.
Business Profiles
A profile which is clear assists people to comprehend what a business does and what sort of collaboration it is seeking.
Collaboration Opportunities
Members are able to exchange partnership needs, projects, services and ideas.
Knowledge Sharing
Instead of attempting to solve all the problems, entrepreneurs can take advice from other entrepreneurs.
Business Visibility
Any startup or small enterprise can present their products, services and accomplishments to a particular group of people.
Collaboration Can Help Small Businesses Too
There is no restriction on the collaboration between startups and technology startups.
It can be beneficial for small businesses and MSMEs too.
Choose a local manufacturer who makes packaging materials.
Even if the business products are good, there might not be much visibility on the internet. The owner had the opportunity to get networked with a startup who was looking for packaging for their products.
The startup is given a supplier.
The manufacturer obtains a new customer.
Both businesses did not have to revamp their business model. Just found a way to collaborate.
One of the most important advantages of a connected business ecosystem: that different businesses can value added to one another.
How to make networking a real opportunity
It's not sufficient just to join a community.
For networking to translate to opportunities for business, concentrate on developing authentic connections.
1. Start With a Clear Introduction
Introduce yourselves, explain what you do and what you are doing.
Making for an easier introduction for the right people to understand how they can connect with you.
2. Do not ask for something right away!
This isn't just about requesting a favour when networking.
Get to know the steps of the other person's work. Identify commonalities or issues that can be addressed together.
3. Look for Mutual Value
The best partnerships are those that benefit both parties.
Ask yourself:
What do we have to give and what does this person have to give?
A solution isn't necessarily financial. It could be knowledge, skills, referrals, visibility, technology or access to a new audience.
4. Start Small
A big partnership is not necessary after a single meeting.
Do a trial project, referral, consultation or joint activity first.
Trust can be gained from small successful collaborations.
5. Stay Connected
It may take a while before a conversation turns into an opportunity.
Maintain contact with helpful contacts. Post updates, to congratulate on successes and stay on board the community.
Often the chance occurs months after the initial talk.
Digital Communities Are Changing Startup Networking
Conferences and other local business groups or contacts were traditional ways of networking.
The digital communities have enabled beyond-geographical connectivity.
A founder in Chandigarh can get in touch with a Bengaluru professional. An MSME in Delhi can find a possible business partner in Mumbai. A freelancer can connect with a startup that's looking for his or her abilities.
The increased access is part of the reason why digital startup communities are of growing use.
For instance, Digital Startup India aims to connect founding teams, entrepreneurs, MSMEs, professionals and more from the startup ecosystem to offer networking, knowledge sharing and collaboration opportunities.
Networking Is the Beginning, Not the Result
It's simple to believe that networking is about gaining literally hundreds of connections.
Numbers are not the key to business growth.
One appropriate link makes more sense than hundreds of random links.
The aim should be to journey through a simple journey:
Connection → Conversation → Trust → Collaboration → Opportunity
The founder you meet now could be your next customer, collaborator, mentor, supplier or founder.
It's for this reason that networking with startups doesn't have to stop at a connection request.
True opportunity occurs when people get together because they have a reason to.
Final Thoughts
It's not about building everything alone when it comes to building a startup.
The right people can help you learn faster, find customers, find a better product, solve a problem you may not be able to solve by yourself, and find opportunities that you may not have found by yourself.
A startup collaboration platform can help to create these links more easily, by putting together various participants of the startup ecosystem under the same roof.
However, the platform is just the beginning.
The magic is in the following moments after the connection.
Start a conversation. Share an idea. Offer your expertise. Hear another problem from a founder. Find a common goal.
This can be as simple as having a conversation that can get a good business relationship going.
Looking to make networking a reality? Learn about Digital Startup India and meet with the founders, entrepreneurs and businesses shaping the future of Indian businesses.