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How one founder built a successful startup through startup networking opportunities.
Rohan began his business with the impression that the most difficult was going to be building a product.
He was wrong.
The product was ready for use. He had an idea that he had been working on for months and had his website available. There was one thing, however; few people were aware of his business.
He was in need of customers, counsel, alliances and understanding of the startup building process.
It was at this time that Rohan learnt the benefits of networking opportunities that come with startups.
Initially, networking seemed like an easy thing for him to do. Familiarize yourself with people, exchange business contact information and discuss business. However, he quickly realized that it wasn't really about amassing hundreds of contacts when it came to good networking. The quest was to seek out the right people and have meaningful relationships.
He has a similar story to many first time entrepreneurs who are out of the box.
Why Networking Matters for a Startup
The process of starting up a business can at times be isolating.
A founder can have a great idea, but still have questions to ask about their marketing or funding, hiring, technology, customers or growth. It can be time-consuming to look for all the answers individually.
That's where opportunities for startups to network make a difference.
Connecting can share a way for the founders to meet:
- Other startup founders
- Potential customers
- The Mentors and the experienced entrepreneurs.
- Business partners
- Co-founders and collaborators
- Both investors and startup personals can utilize this to their advantage.
- B2B companies that are freelance or service oriented.
The official Startup India Portal itself offers a networking platform for startups to network with investors, incubators, accelerators, mentors and other startups.
When it comes to learning, sometimes a single chat can be more beneficial to a new founder than a lot of web surfing.
Rohan's First Networking Experience
Rohan's initial start-up networking event wasn't exactly a success.
He came to the event with the notion that everyone there would know one another. For the first couple minutes he just stood and listened to people talking.
Then, another one of the founders asked him a simple question:
So what is this new thing that you're building?
Rohan gave a few sentences explanation of his business.
The founder didn't become his customer right off the bat. However, he put him in touch with someone who knew his way around the world of digital marketing.
During that discussion, Rohan got a couple of tips from the conversation on how to approach his target customers.
It was a little bit, but it had an impact on how he started to think about networking.
He learned that it wasn't always about selling, it was about networking.
At times, it was related to discovering somebody who can assist him with taking the following step.
Networking is more than going to events.
Networking is a business event and shaking hands and exchanging business cards is all it entails for many.
It can be far more than that!
Startups can network today via online communities, startup groups, workshops, conferences, startup incubators, startup mentorship programs and professional sites.
For instance, Startup India ecosystem offers access to start up owners, investors, mentors, incubator and accelerators.
Networking is also easier for founders who don't have the ability to attend events on a regular basis, as they can connect with others online.
For instance, Digital Startup India convenes all the stakeholders of the startup ecosystem including founders, entrepreneurs, MSMEs and professionals for connecting, learning and finding opportunities for collaboration.
This doesn't imply a founder must head to the big city with startup hubs to get to creating beneficial connections.
What Can a Founder Gain From Startup Networking Opportunities?
After taking some time, Rohan began to notice some benefits of networking.
1. Finding New Customers
Not all of the networking is a product of a customer. However, it's important to tell your story to various individuals to find out who your product or service is really for.
Oftentimes another founder could have a friend within their network who is willing to vouch for your business.
2. Learning From Other Founders
A founder might have already encountered the issue that you're dealing with.
You don't need to ask them how it went and observe their experience, you can learn it all through asking them.
Discussions on the pricing, hiring, marketing or customer retention can provide you with some ideas that books and videos may not.
3. Finding Collaborators
Frequently startups have skills that they lack in-house.
Sometimes a designer is necessary to work with a founder. There is another that requires developer. There may be a need for someone else to be a Marketing person.
These individuals can get opportunities to work together through networking.
4. Meeting Mentors
A mentor of a good founder can help him or her see a problem in a new way.
Founders can connect with experienced individuals who are willing to impart their knowledge through networking events, startup communities and incubation programs.
5. Discovering Partnerships
Competition between two businesses isn't always a good thing.
They sometimes can do it together!
A website development company, for instance, could collaborate with a digital marketing company. A food startup might be able to work with a delivery company. There's a manufacturer in the local area that can link to an online seller.
Such connections can be beneficial to both parties.
Rohan changed his approach.
Rohan then went to a couple more events, but he ceased his efforts to talk to everyone.
Rather, he concentrated on some significant talk.
He always made a brief introduction for the event:
What does he do? Who does he help? What does his business do?
This facilitated discussions.
He also began to follow-up on people he met, rather than just save their cellphone numbers.
He kept those relationships alive with a short message that was, "It was great speaking with you about your business. Let's stay connected.
The next few months he was introduced to a possible customer by one connection. He was introduced to another freelancer by another. A third helped him to grasp a problem that he had in his marketing.
All these opportunities occurred over time.
They came about as a result of Rohan's continued development of relationships.
How to Find Startup Networking Opportunities
For the founders, the beginning can be as simple as it gets and not until a big conference.
Startup Communities
Participate in both startup communities, online and offline, to gain insights and inspiration from other founders and entrepreneurs.
Workshops and Events
Search your local area or the web for any startup workshops, founder meetups, business events or entrepreneurship sessions that may be available.
Incubators and Accelerators
Access to mentors, founders, programs and other participants of the startup ecosystem is a benefit of incubators and accelerators.
Online Platforms
Networking a startup doesn't necessarily need to be in person. Online communities and start-up platforms can facilitate connections between founders from all over the world.
Local Business Groups
Local entrepreneur groups, business meetups and trade associations are other resources that can help small businesses and startups.
The crux of it is that you should not be a part of all communities you can find. Identify opportunities in which people and conversations are applicable to your business.
How to Network Without Feeling Awkward
Networking can be awkward, particularly for the brand new entrepreneur.
No need to have a perfect introduction, nor an impressive pitch.
Ask some basic questions:
What is it that you're working on?
What was the beginning of your computer programming career?
Who are the types of customers you work with?
What is your main problem in the last few years?
Pay attention and demonstrate a listening attitude.
Networking is a two-way street. When you consider what you can do for others, consider what you can offer them as well.
The Biggest Lesson From Rohan's Journey
When it comes to startup growth, Rohan started to think that it relied primarily on having a great product.
Later, there he learned something that was important.
If it's a good idea, it will require people.
Individuals can turn into clients, mentors, partners, staff members, investors, co-creators or simply someone who provides you with the proper tips at the proper time.
Hence, networking opportunities for startups can be beneficial at any point of a business trip.
The number of contacts is not a major concern.
It's possible you'll only require a couple of real connections that develop gradually.
Have a conversation with them and continue the discussion.
If you are a new founder and haven't worked with others, you don't need to establish a large network of people to work with overnight.
Start With One Conversation
Become a part of a startup community that is relevant to your business. Attend one event. Get acquainted with another founder. Respect each others' opinions and ideas.
There's no telling where this talk will go.
Networking is more than just about who you know for entrepreneurs.
It's about the people you make a difference with and things you can do as a team.
Final Thought
Rohan's business just didn't get bigger after attending one of the magic networking events.
It grew due to his own presence, his contacts, his learning from them and his staying in touch with them.
If you're like many founders you may already have a new customer, mentor, partner, or great idea in your extended network.
In some cases, the first step to a solution is just to start the dialogue.