Want the cheat code to crack the startup game? Want to crack the game and learn how to network like a pro with entrepreneurs and investors? Worry not; we are here to help you. As a startup, you are pressured to ‘do things right’. We all know that networking can make or break your business. Here is our simple advice to help you ace networking to grow yourself and your startup.
Why is entrepreneur networking crucial?
Business can’t thrive in isolation. Networking is your superpower for attracting investors and people who might help you grow your startup. There needs to be a textbook guide to help you learn entrepreneur networking. You have to understand the basics and improvise as per the situational needs.
21by72 is organizing a Global Startup Summit in June 2024. It is a business networking opportunity for people from around the globe in Gujarat. Here, you can set up your stall for funding and networking, attend seminars, and watch insightful panel discussions. Get your spot or be a visitor to build your network because the network is your net worth!
One thing that you must remember is that networking means more than pitching to investors. Networking for entrepreneurs is connecting with like-minded people who can help them grow. It includes fellow startup owners, service providers, mentors, investors, and more. You never know if you’ll meet your future investor, partner, or a talented individual to boost your operations. So, keep your eyes, ears, and mind open!
A few networking advice for Global Startup Summit 2024
The following are some networking strategies and advice for connecting with like-minded people.
Determine the type of connection you want to build
Your startup caters to a particular industry and customer. Also, you can’t become a one-person army and win the war (business deal). It would help if you had a team (even a small one) to get your startup running smoothly. Similarly, you can network with all the individuals at the startup event. You need to identify those who seem closely relatable to your startup or have similar thoughts.
While you should mingle with as many people as possible at a startup event, you must choose only a few to build your network. For this, you can look at the list of people attending the event and identify the ones that fit your network. You can also find potential investors and network with them to forge long-term relationships.
Remember, you must understand and be clear about your networking agenda. Is it for connection building, resource procurement, or obtaining investment? Determining the intention will help you pitch better and lead a conversation skillfully.
Build relationships, not business deals.
Imagine walking around a party, and suddenly, someone starts bombarding you with a sales pitch. You are more likely to get annoyed and avoid them for the rest of the party. Startup events are no party, and neither is a private sales ground. It is an opportunity to find people to help you build your startup.
Start with a casual conversation first. Get to know each other and build a relationship. It is for you to connect with like-minded individuals, not necessarily your potential investors or partners. You can connect with them after the event and deepen your relationship. You will find a friend or person that adds significant value to your life.
Always start by helping others out. Please do so if someone is struggling or needs help, and you can provide support. It will add value to their lives, and you can become reliable. In the future, if the need arises, they will readily help you. Thus, before getting something, you must give it to them first.
Pitch the potential, not the product.
It’s a basic understanding that when you create a sales pitch, you list the benefits. Pitching the features alone is likely to fail. The customer wants to hear how those features will benefit them or how the product adds value to their life. A winning sales pitch addresses the customer’s needs rather than product features. Getting the investment works is like that. You pitch your idea and its potential to get them to invest in your startup.
Most investors will put their ROI first before the potential of your startup. Both are two faces of the same coin. A promising startup is likely to succeed, increasing its returns. So, you must show them how they will benefit from investing in your startup. Firstly, present the product’s value, its likelihood of success, and most importantly, the ROI. If you have launched an MVP (Minimum Value Product), you can use data to strengthen your pitch. So, pitch the potential profit, not the product.
Listen to them and remember them!
Most of you will attend this startup event in Gujarat with hopes of getting investment, partnerships, customers, and other gains. You want people to hear you out. So does everyone else attending the event. The key to being a good communicator and building a network is to be a listener.
We all like it when people listen to us intently. So, listen to the person and remember a few things about them (take notes if necessary). When you reconnect with them outside the event or even later in the event, you can strike up a conversation. It will give you a positive opening to build your relationship. This is true for any form of network building. When they feel valued, they will give you value.
Do not fake it till you make it.
Often, we assume that being perfect is what makes us approachable. On the contrary, being eager to learn makes us more approachable and relatable. It doesn’t mean showcasing your weaknesses or the threats your startup faces. It means you are showing that you learned something new that added value to your life.
You can let someone know if what they said or did inspired or helped you; you can make them feel valued. It fosters a good relationship and the potential to build business relationships. Accepting you didn’t know something shows your willingness to improve and adapt. It helps you build trust. However, be genuine about it. Fake enthusiasm can work against you as well.
Conclusion
Networking is the key to growing your net worth in monetary and value terms. By networking, you can build relationships with potential investors, partners, a friend, or potential customers. Thus, networking is essential when attending startup events in Gujarat or any place. Here, we have discussed a few networking strategies to keep in mind. First, start by listing people you want to network with. It helps you add valuable people to your network. Start with a casual conversation to set the flow of conversation. Give them some value before you ask them something. It helps you build a good first impression. When you pitch to your investor, highlight the potential of your startup, not the features of your startup. It’s more effective and gives value to your investors as well. You connect with fellow entrepreneurs and mentors by sharing how you relate to them or how they have helped you. So, network well when you attend the Global Startup Summit 2024 and lead your startup to success.
FAQs
1. Are there any startup events in Gujarat?
Yes. If you are an entrepreneur, business owner, or investor wanting to build a network, we have the perfect opportunity for you. The Global Startup Summit is a startup event where we gather for fundraising and building a network. Here, entrepreneurs and investors from around the world gather to talk, pitch, and invest. There are expert speakers and panel discussions to help new entrepreneurs learn things quickly.
Can any startup participate in the Global Startup Summit 2024?
Absolutely! Startups of any stage can participate in our Global Startup Summit 2024. If you’re looking for investment, you can book a stall to showcase your startup to potential investors. We have insightful speeches and panel discussions if you are eager to learn. You can learn and build your network to grow your startup.
Can startup events help in professional growth?
Yes. Networking events are places where you can learn from industry experts. There are speeches from leading industry folks and panel discussions on various topics. You can choose what suits your needs and listen to them. You can always ask the expert your doubts.
