Most Mistakes Made By Entrepreneur During Networking

Many aspiring entrepreneurs feels the utmost importance that is their networks, the more they have the greater that have in their success.

Lets imagine that you want to build a beautiful garden behind your home. You walk around town finding the prettiest and colorful plants you can find. Coming back home tired but satisfy with your collections. The next day, you bought more plants and you keep repeating the next day. Question now is, how many of the flower you gotten would survive by the end of the season or even the end of the year?

Just like flowers, we need to care for them just like we have to care for our networks. The more connections you have, the less time we have to care for even some of them. Therefore, we need to determine the right amount of connections we can take care for a certain amount of time.

We each have our own limits for a certain amount of capacity. While they vary, researchers believed that  we cannot handle more than 250 relationships. In order for us to accommodate more relationships, we create an organization with employees thus more hands to care for them.

In a working environment, people gets away with their opportunistic behavior without facing some sort of consequences. Research shows that having a large network can end in disaster. With that in some mind, you need to work with  people that you know very well and trust so well. This is why people in emerging markets, often operates in a disclosed hard-to-break-into groups. This group, enforces particular rules onto their group members that is difficult for them to disclosed some information about their business. If you can trust your connections to draw up a good deal, you are expanding you networks.

Here is what you can do in order to network much efficiently:

1. Sow your seeds strategically. 

Don’t venture out too much or stay close to the people you are familiar with. Its best in the entrepreneurship’s view the best working relationship are in the middle. Not too close, but close enough for you to work with in the future.

When designing your garden as mention before, with the adequate number and varieties that you have in your garden, you as an entrepreneur need a network with diversity group of friends. With that much, not only you have access new connections and resources but also new markets and opportunities.

2. Encourage cross-pollination.

Your network is made up of several other networks. You are probably at the center of some of those networks and probably the fringes of others. You are at the center if you are the main individual who other people in your network interact through. While it does have its advantages, it brings together people across various networks which is important as an entrepreneur it is a required skill. The ability to become the bridge to connect between networks the better chance you will have them to work with you. And your ability to identify the problems and opportunities that follows them in one of your networks will prove to bean asset for them.

3. Think variety, not quantity.

Obtain a likeness to network with people who are unique in their own way, either they have skills, knowledge or even humor. The first step in building your own networks is to identify individuals that are different from you but complements what you are lacking in. You don’t want your people to be so similar that your resources does not match what you’re asking for or too far different that you cannot be on the same page with each other.

It is also important to take notice of other people’s needs and manage a profound impression you leave on them. Focus yourself on managing the important relationship and let them inform about yourself to those other connection. Therefore you ultimately be in a better position in your much now broader network.

Source: Entrepreneur is a Business Angel Network accredited by the Malaysian Business Angel Network (MBAN) the official trade association and governing body for angel investors and angel clubs in Malaysia. We strive to bring entrepreneurs and investors in Asia to fuel the startup ecosystem. 

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