Networking For Start-ups

Article Source - www.startingabusinessinireland.ie
Author - Tricia Murphy - TiG Alliannce


Tricia Murphy runs the TiG alliance, which has over 15 years experience working with companies and individuals to refine their networking skills. For more information on course details or to make a one-to-one appointment, call the TiG Alliance on 01 406 9517



What is Networking?

We’ve all seen it - the person who commands the room at a function. Handshakes, nods and warm greetings abound. They seem to know everyone! How do they do it?
More often that not, it can all be down to effective networking, the art of discovering and using connections between people. We all know other people so we all have a network. However, effective networking means moving outside our own immediate network and tapping into new networks, perhaps far beyond the scope of our own.


Networking is very much an acquired ability, which with proper training and practice can be learned and developed.


Why Networking?

People buy people so if you develop the right contacts and relationships, success will follow. The old cliché “It’s not what you know, it’s who you know” still holds true. I feel it should be refined to read: “It’s what you know and who you know” because once you have a viable ‘what’, effective networking can provide the ‘who’. Networking is a communication skill available to all that demands little or no monetary investment, requiring only time, persistence and skill. It could be the best business investment you make this year and is especially valuable in a start up situation.
How can networking help you develop your business?Networking can help to win new business both immediately and in the long term. Networking at its most fundamental level involves informing people about your business and tapping into their network of contacts who might require your services.


Networking is also a valuable method used to gain advice from other professionals or suppliers. This may involve receiving advice from people who have been in a similar start-up position. Before you begin, networking goals should be set so that your valuable time is maximised.
Identify key players or organisations within your industry. Which organisations do you join? How much time are you willing to invest? Chose carefully where you want to spend that time and spend it well for the best results. Remember that for effective networking “the more you put in, the more you get out”.


The next step is to ensure that you develop a database and keep it up-to-date. Every new contact should be treated as a potential business lead and should be entered into your database along with any supplementary information on them to help you track and build relationships.
Remember, your database is your most important information source so ensure you have a back up just in case.


Do your Research!

Conduct research on government resources and grants that may be available to you and contact the necessary agencies. Speak to your local Enterprise Board. Join local networks such as Chambers of Commerce, where networking is encouraged as an effective means of doing business. Consider training on how to network effectively.


Are there any alliances you can build with companies in a related field who may want to sub-contract your services? Try to think of any potential opportunities to link with other companies for mutual benefit.


Finally, remember to nurture your network. Look after your contacts and they will look after you. Think of your network as a fundamental resource for success, treat it with respect and enjoy expanding your network and your business!


Five Basic Networking Tips
1. Refine your networking skills by getting one-on-one coaching or attending a tailored, corporate training programme.
2. Lead by example - pass on contacts, newspaper clippings, etc. that you think might be of interest to someone else in your network. Make sure you follow up after you have passed a contact along to see how it went.
3. Shake hands and make eye contact. Be confident and welcoming without being too OTT and set yourself a goal of meeting a certain number of solid prospects at each event.
4. Practice a 30 second ‘commercial’ on your business – you need to be able to explain succinctly the core elements of your business and outline the types of ‘leads’ that you are seeking.
5. Follow up, follow up, and follow up in a timely and appropriately persistent manner.