6 ways to effective networking for entrepreneurs
It has been a transformational spring for area entrepreneurs, underscored by Worcester's first “Innovation Month,” a welcome move by the city and pro-business organizations to incubate new businesses and accelerate their development.
It's a good time for local entrepreneurs to look locally for the support, connections, services and financing they need to start their businesses and move their best ideas forward. We're seeing this today as growing numbers of college students, first-time and serial entrepreneurs, lawyers, marketers, designers, angel investors and bankers are coming together to talk about doing business in Worcester.
While holding networking events for entrepreneurs is not new, those being held today are beginning to flourish. Here are six ways you can capitalize on this trend and make the most of entrepreneurial networking:
1. Set good goals.
Networking success used to be measured by the number of business cards you brought home from an event. Focus instead on building relationships. Talk to people. Make an impression. Then use the business card to follow up.
2. Practice makes perfect.
Networking events often feature “elevator pitch” and other short-form communication competitions to see who can express their business idea most succinctly and compellingly. Practice your pitch (present your idea, why it's important and what kind of help you need to move it along) in advance, whether you're competing or not. Even if you're “just networking,” you're really competing to make a memorable impression.
3. Listen and learn.
While you'll want to present your ideas succinctly, staying on point to maximize your time and that of your fellow attendees, spend more time listening than talking. Hear how others present their business ideas; learn from their successes and failures; and take time to understand what investors want from you to fund your idea.
4. Build your ecosystem.
The best networking events for entrepreneurs attract talent from the “ecosystem” you'll need to launch and grow your business. Take advantage of this to make connections with, and learn from, those in legal, technology, marketing and other key services. For example, a connection you make with a local videographer can save you some painful cold calling later when you need a video for your home page.
5. Think, follow up, follow through.
What did you learn at the event? What best practices should you make your own? Who did you meet? Who sparked your interest and may have more to share? Who can you help? Write down the ideas you come away with, build them into a plan that you keep evolving, and follow up with the people who interest you.
6. Stay social.
Enhance your networking through social media by joining business groups online and engaging with compelling companies and individuals.
The resources for launching and growing a great business aren't just “out there,” they're here in Worcester — backed by a supportive community — and ready for your use.
Kevin Anderson and Michael Aguirre are co-founders of VentureMeets, a networking group for Worcester-area entrepreneurs, and eOxity, a business-services exchange. Contact them at kanderson@eoxity.com or maguirre@eoxity.com.
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