Startup Networking: How Founders Find the Right People

How Founders Find the Right People

Aarav founded his company and believed the most difficult aspect would be to build the product.

He was wrong.

The good thing was that the product was ready. His site was up, his social media profiles were set up and he had a few initial customers. However, growth was beginning to slow down.

Aarav was in need of marketing advice. He wished to talk to prospective customers. He was also in search of someone who could offer him some insights into funding.

It was easy to explain: He didn't know the right people.

One night a fellow founder explained something to him which altered the way he viewed business.

Don't be afraid to meet the right people; you're not required to know everyone.

It was then that Aarav found out how important Startup Networking is.

What is Startup Networking?

Startup Networking implies that you build authentic professional connections with the individuals who can assist you with learning, problem solving, opening up opportunities or growing your business.

They may be:

• Other startup founders
• Expert mentors from industry and mentoring partners.
• Investors
• Potential customers
• Business partners
• Staff and creative people
• Incubators and accelerators

Startup Networking is not just about getting to meet hundreds of people and getting hundreds of business cards at an event.

It's about finding people that get into your story, share valuable insight and can be a part of your business journey!

India's official Startup India ecosystem also offers networking opportunities to allow startups to connect with investors, mentors, incubators, accelerators and other stakeholders. 

Also Read : How Startup Networking Opportunities Helped One Founder Grow

Why Startup Networking Matters for Founders

Just because a great idea is conceived, doesn't mean a founder can be lacking in knowledge, experience or connections.

Now think about a founder that has developed something useful, but not knows how to get the product in front of the customers.

There may be another founder who has a great network of marketing but lacks a good product.

They might be able to form a relationship that works for both companies through a discussion.

One of the largest benefits of Startup Networking is that.

A wrong connection can cause a founder to miss out on an insight that might have taken him/her several months or years to have on their own.

1. You Can Learn From Other Founders

Starting up a business can raise numerous questions.

Where can I find some paying customers?

Do I need to get someone to do the job for me or do I need to have it outsourced?

What is the proper amount of money to invest in marketing?

What are the best timing to seek funding?

Founders shouldn't have to go through each question individually - they can learn from others who have been in their position.

Sometimes, it takes less time to spend with another entrepreneur talking through your ideas and problems than to spend weeks doing research and making errors.

2. You Can Find Mentors

A good mentor is not your entrepreneur partner.

They can instead assist you to view your business from another perspective.

A founder might think that the product is the issue, whereas in reality it is the price or who is being targeted that is the issue.

This may be more easily observed by a mentor who is experienced.

There are also mentorship programs like MAARG, which Startup India has launched, which can guide and guide startups in various stages and in various fields. 

3. You Can Meet Potential Business Partners

There are times when a founder needs a skill that he doesn't own.

For a technology entrepreneur, it could be a value to have a sales background person in your team.

For a fashion entrepreneur, online marketing is something that might need a bit of assistance.

If a local business requires a technology partner to create its website or application, a technology partner is required.

These people can be connected via Startup Networking.

The aim is not to pick a partner up quick. The aim is to initiate discussion and find out if there is any real potential when it comes to working together.

4. You Can Discover Customers

Building relationships isn't just a matter of connecting with investors.

Your next customer can be from your network as well.

Assume that you are developing software for small companies. You can learn more about these issues from meeting with ten small-business owners than from reading articles on the Internet.

In the process of one conversation, you may find a problem that your product can solve.

You could come across someone else who is the owner of a business in need of what you have to offer.

Hence, it is important to have good networking based on relationships and not on selling.

5. There are Funding Opportunities to be found.

Many entrepreneurs associate the word networking with requesting investment money directly from the investors.

This is typically not the best way to do it.

The best way is to first get to know the people, their job and establish a business relationship.

As the relationship evolves over time, it can result in an introduction, feedback or funding opportunity.

For instance, Startup India Investor Connect has been launched to connect start-ups and investors for investment opportunities. 

Aarav's first Networking Experience.

Aarav went to a Startup event few weeks after his discussion with another founder.

Initially he was unsure.

Everyone seemed busy. Some were discussing money, others were discussing their businesses and Aarav didn't know where to start a conversation.

Then he didn't think about the things he could get from people.

Rather, he began with simple questions.

What's that you're working on?

How did you start getting customers?

What have been your greatest challenges in life?

Conversations commenced and were made easier.

He encountered a marketing consultant, another founder of a startup and a business person who was interested in his product.

One of those talks (It took a few days to happen) became his first business referral.

Everything failed to occur as Aarav pitched the best in the room.

It's because he began a real dialog.

How to Find the Right People

The #1 error in Startup Networking is reaching out to all.

Rather, first determine what you need now.

Do you need:

• Business advice?
• Customers?
• A mentor?
• A technical partner?
• Marketing support?
• Funding?
• Industry knowledge?
• Employees?

When you know what you're looking for, it's easier to find yourself the right people.

If you want to know how to run a business, it can help to connect with a few business professionals who already have experience running a business as opposed to hundreds of random business professionals.

Industry communities and/or business owners may prove to be more valuable if you are seeking customers.

The first step in good networking is for having a clear purpose.

Where Can Founders Network?

Startup Networking is possible in just about any place.

People can be met during startup events, business communities, conferences and workshops, online platforms, incubators, accelerators and professional social networks.

Sometimes it's not necessary to travel to a costly conference.

One of the easiest ways for a founder to get started is to join in with the relevant online communities and engage in discussions, or even attend free events or contact individuals about their work that is of interest to them.

The official Startup India ecosystem also offers platforms and initiatives around the connections of Startups with investors, mentors and other members of the ecosystem. 

Also Read : How Startup Collaboration Turns Into Real Opportunities

How to Start a Conversation

There doesn't need to be any complicated introduction.

This can be done with just a few words:

Hello, I'm Aarav, and I'm currently creating a platform for small businesses that will enable them to take control of their online presence. What are you doing?

Then listen.

Networking is not a race if you talk the most you win.

Individuals recall individuals who are attentive, ask questions and demonstrate a genuine interest.

Don't Ask for Too Much Too Soon

It's an easy way to break a new connection: ask for something straight off.

Suppose you meet someone for the first time and tell him/her:

“Do you know someone who invests in that type of stocks?”

This may be an awkward feeling.

Rather, have a discussion.

Find out more about what they do.

If you have something helpful to share, do so.

Follow up later.

When both parties perceive value in maintaining the relationship, it will grow stronger.

Follow-Up Is Where Networking Really Begins

One person's introduction is but the first step.

Send a brief message after an event, or conversation.

You can say:

Thanks, nice meeting you here today and interesting to hear about your work; stay in touch!

If you talked about a particular subject, make a reference to it.

This adds a personal touch to the follow up versus something automatic.

Small chats can develop into a great working relationship over time.

Build a Network Before You Need It

One of the most frequent pitfalls of founders is waiting to solve a problem.

If they are in need of funding, they begin to scour for investors.

When they are suddenly in need of employees, they look for them.

When sales have slowed down they seek out customers.

It's best to get in early when networking.

Maintain positive relationships during good times.

It is never too late for a conversation that you had 6 months ago to come in handy.

Quality is More than Quantity

It doesn't necessarily mean that if you have 1,000 LinkedIn connections your network is strong.

Ten people who really know what you do, can be more valuable.

Relationships are based on trust, communication and support.

The aim is NOT:

“What is the maximum number of people who can be reached?”

Instead, ask:

How many of the relationships can I have that are meaningful?

The Real Power of Startup Networking

Several months later Aarav's business was different.

There he met a marketing consultant who helped him to enhance his marketing strategy for customers.

The owner of the business, introduced him to another prospective customer.

The founder that he met there has become one of the business problems that he frequently discusses.

These things did not come about in one day.

However, one talk morphed into another.

And another.

This is what Startup Networking is all about!

Attending an event can lead to any or all of those things, or you can walk away with a new idea, a mentor, a customer, a business partner or just a better understanding of your own business.

Final Thoughts

Creating a startup can be a solo effort at times.

However, the founders don't have to solve all the problems by themselves.

Knowledge, encouragement, feedback, opportunities and connections by the right people can help make the journey easier.

Start small.

Speak with other co-founders. Join relevant communities. Attend useful events. Ask questions. Listen carefully. Follow up. Most importantly, concentrate on cultivating real connections, rather than gathering contacts.

Of course, sometimes, the next big opportunity for your startup isn't another tool, advertisement or strategy.

It could just be the right person, you haven't met.