There is no need to explain why networking matters – it has always been one of the most essential elements of entrepreneurship and a main pillar of local and global entrepreneurial ecosystems. Networking does not end with showing up at every possible networking event you can possibly find the time to attend. By just “being there” you are not achieving much, if you don’t make the most of the opportunity you’ve been given. Networking is not just about “meeting people”, it is about establishing valuable long-term relationships.
Many entrepreneurs, especially first-time entrepreneurs who lack experience, make mistakes when it comes to networking. Even though some of these mistakes are not in any case crucial, they can lead to many unpleasant and unwanted outcomes, such as: building a bad reputation, lack of stable network, and especially – missing many opportunities. To help you avoid wasting your time and the time of others, here we will highlight some of the most common networking mistakes, which entrepreneurs make.
The inability to explain what you do
Many entrepreneurs go to networking events without being prepared to answer even the simplest questions about the work they do. If you are unable to explain simply what your startup is all about and you give confusing answers, how would you expect your interlocutor to be interested in your product or service? Always be prepared – practice your pitch every time you can, so you will be ready to shine when the right moment comes.
Loosing balance
Many entrepreneurs take the chance to impress potential investors at every possible networking event as the last chance they will ever have. They become too aggressive, which most definitely will push away the investors. Here it is important to mention that not every investor is the right investor for your business, so make sure that you do your research before you eagerly pitch every angel or a VC that you get close to.
On the other hand, there are many entrepreneurs, who prefer to stay quietly and just to listen to the conversation, without even to try to engage. Of course, you are able to learn much from just listening, but you will never get the attention that your startup needs if you don’t speak up. It is important to find the balance – to know when it is the right time to speak and when you should just sit back and listen.
Don’t just talk, listen!
It has often been said that entrepreneurs should pay a lot of attention to improving their communication skills. In the busy world that we live in, people rarely find the patience to actually hear what the others have to say. Many people spend their conversations preparing their replies without to pay attention to what the other person is actually talking about. Ineffective communication is the main reason why many business meetings don’t lead to anything fruitful. Don’t be impatient in your conversations, listen and then answer, and you will be able to see effective results from your networking.
