How to grow your business network

08Dec09

Now that you already know why you need business networking for your startup it would probably be a good idea to grow your network of contacts . Here are a couple steps that will help you get there:

  1. Go out, meet people. Can’t really put it any simpler – you need to meet people face to face. It’s a web world, but people are social creatures and there is nothing more social than having a few drinks at 4am in a dodgy bar. Kidding, but seriously, check out meeting oriented sites like Meetup.com or relevant events on Facebook and LinkedIn – sign up to at least one event a week for starters, you can be more selective later.
  2. Be prepared. Get decent business cards, even if you’re just thinking about creating a startup. Make them meaningful, so people know who you’re after they get sober the following day (you can use MOO to get different graphics on each one of your cards). If you run out of cards, get a pen and paper to take notes or fire up your phone whenever someone gives you his/her details. Check the list of people attending before the event – look up those that you need to meet the most. Start the event by talking to them – they might leave early.
  3. Work the crowd. You never know how the person standing next to you might be useful. Or how you might help that person. Don’t wait, move around. Start talking to people for whatever reason – they are all there to talk to you anyway. That’s the sole purpose of those events.
  4. Get tailored information. When talking to someone don’t hesitate to steer the conversation in the direction that is important to you. For instance if you have a product for community managers ask people, how they manage communities of their companies/products. You have the right to be interested. If you’re not, you should switch the product you sell ;)
  5. Ask for leads. The person you’re talking to might not be the best contact in this company for you. But chances are (rather big) that he/she can advise you and introduce you to the right people. You’ll be surprised how eagerly people will help you. Also ask, who else should you talk to at the party, or in this person’s network.
  6. Give back. ALWAYS think of the ways you can contribute to other person’s business or situation. It might be by referring a business or service that might be beneficial or referring a contact/customer that might need the person’s services or products. Give, even if you didn’t get anything out of interaction – referring people makes your network stronger (if relationships are beneficial for both parties of course).
  7. Exchange cards/contact info. This is an important moment, because you need to be able to get back to the person. As obvious as it sounds, sometimes we don’t feel comfortable about asking for a card, especially if the other person is of a ‘higher status’ then we think we are. Be serious about it, give the card with proper emphasis and make it obvious that you expect one in return. If the other person is hesitant, ask for the card – usually after people have a couple drinks they forget about simple things like returning the courtesy.
  8. Follow up. No later than next day: send a ‘thank you’ e-mail, make introductions you promised (be sure both parties want them), deliver information you think will be useful to the person. To finish, store the information in a networking service like LinkedIn or Xing.
  9. Add your own step in growing networks – in the comments section please :)
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6 reasons why you need business networking for your startup

30Nov09

Because you do, no question about it. There are a couple areas where knowing people directly is a great help (random order):

  1. Partnerships
    You will need them at some point if you want to grow fast – be it your distribution channel, promotion partner or complimentary product provider
  2. Financing
    ‘We don’t invest in people we don’t know’ one VC told me once – enough said ;)
  3. Buying
    When you’re small, have no credit record, and you company is 10 days old it’s hard to get good prices, long term payment conditions and any form of exclusivity (which might be important if you’re claiming a ma rket niche)
  4. Promoting
    It’s a lot more efficient to call 3 friends and tell them you’re up to something new than distribute 1000 press release messages to industry bloggers.
  5. Hiring
    You can’t pay them enough. You can’t give them benefits. Your promise is sweat and blood. And possible defeat. The’ve got to like you to trust you :)
  6. Selling
    Chances are your product can be sold to enterprise customers, be white-labeled or bundled with something. It might not be your ultimate strategy, but anything that keeps cash flowing in is good at the beginning.

So even though you think that in this WebThingy you can Adwords your road to wealth, or Digg your product to fame – think twice. People are using your product. People spread the news about your product. People will make your product. Get to know them. Go, network.

If you strongly disagree – let it out in the comments.


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Social Selling

16Nov09

Now this title might seem a bit weird a couple years ago, when you really needed to be face to face with your client in order to make a sale. But today in the time of e-commerce, everything-as-a-service, virtual currency and goods it’s not so obvious anymore. Online businesses rarely meet their customers in person. Quite often (if customer is fairly satisfied with the product) they don’t even exchange a single word, except for the credit card details.

Thus said, customers didn’t stop being people – even if those people represent companies or organizations. How do you make contact with them then? You have e-mail, IM, blogs, Twitter, social platforms and other tools to help you – but do you really use them all? Probably not, and quite possibly you shouldn’t. Because what you use should really be contextual to your business, or rather to the way your customers are used to communicate. If you’re selling to people in their twenties Twitter will probably work. But if your customers are their grandparents you will have to stick to the old-school like phone or standard mail. In middle ages the best place to communicate with clients was being literally on the streets because that’s where they were. And you couldn’t send them letters, because most of them couldn’t read. That’s pretty much the same right now – they can read, they just don’t know how to get your message.

So if you’re running an online business make sure you let your customers communicate with you pre and post sales in the way that you really thought through and dedicate yourself to. Because if you put e-mail address on your website, and don’t respond to it people will be disappointed. And they will let everyone else know about it in their way: Twitter, Facebook or their local BINGO club. Also – make sure it’s a two-way and active communication. It’s not enough to run Twitter account to broadcast company promotions. You have to react to people’s complains or praise about your products. You should participate in conversations that are relevant to your business, even if they’re not about you.

Internet is ‘the street’ of today. Make sure you’re really on it. Because being social is not only about the buzzword – it’s about communication with people. Your people.


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