We all know that networking is extremely important when one is becoming an entrepreneur and is seeking to grow their business. Now by networking, we don’t mean sending out cold emails or LinkedIn connection requests, we mean actually getting out there and joining a community of Entrepreneurs. We know that many entrepreneurs are still not seizing the moment and networking so please check out the below reasons why networking is still extremely important for your startup success.
“Pro tip – do not pitch your idea to them outright; talk to them first and get to know what they are after; you might find out they are not interested in your startup’s industry, no harm no foul.”
You need investors
Most important of all is you will need investors for your new startup. It is possible you will not need investment at this very moment since you are in ‘bootstrap mode’, but in the near future you may require investment. Many of us have started our entrepreneurial careers by borrowing money from our friends and family, but sooner or later, it will become very awkward to keep asking, and most likely then not you’re going to need a lot more cash.
This is where Angel Investors come in. And here at Entrepreneurs Collective we know many Angel Investors that are very interested in new and exciting business ideas. From what we have heard most of the time, most Angel investors like to actually meet an entrepreneur through either networking events or through introductions. So, it will not be a bad idea to leave that shy attitude at the door and get talking with some investors. Pro tip – do not pitch your idea to them outright; talk to them first and get to know what they are after; you might find out they are not interested in your startup’s industry, no harm no foul. Build relationships with investors first, we guarantee they’ll become beneficial some day!
“Learning from other people’s past could really help you in learning what you should do in your future entrepreneurial journey.”
You need mentors
Mentors do not necessarily have to be Yoda-like jedis that are old and are battle-worn, however Yoda would be an ideal mentor! They can be, and often will be, young entrepreneurs that have been through the startup trenches and can really shine a light and advise you based on their past mistakes and accomplishments. Not all startups are the same, and not all journeys are similar. Learning from other people’s past could really help you in learning what you should do in your future entrepreneurial journey. Some mentors will be more formal and will be willing to advise you more professionally, and some other mentors will be more informal and will prefer to tell you their stories over dinner or some drinks. Regardless of which mentor you may encounter and come across, you will have to find them out in the wild through networking.
“Through networking, you will be able to meet many other entrepreneurs that may be facing the same challenges as you, and having that emotional support, knowing that you’re not alone, will be fundamental in keeping your eye on the prize.”
You need motivation
Motivation comes and goes for all entrepreneurs. As you will clearly see on your entrepreneurial journey, your life will start to become like a roller coaster, in which you have days where you will be on top and moments where you will be going downhill faster than it was to go uphill. Staying motivated and focused on your passion project is no easy task. And through meeting and networking with other entrepreneurs, you will be able to hear their stories (the highs and the lows). And most important of all, you will be able to hear how they surpassed their obstacles and stayed motivated – essential for success. Through networking, you will be able to meet many other entrepreneurs that may be facing the same challenges as you, and having that emotional support, knowing that you’re not alone, will be fundamental in keeping your eye on the prize.
As you can see, networking is critical to meeting all these people that can help you along your entrepreneurial journey. Be they investors to keep your business running, mentors that will guide you through the struggles, or fellow entrepreneurs that will support you and encourage you to keep going; they can all be found through networking.
Here at Entrepreneurs Collective we strive to build the best community of entrepreneurs and investors that can be found in the United Kingdom. We are very happy that we have a thriving community of Angels Investors, Mentors and many startups that are constantly engaging with each other through our various startup networking events and pitching competitions. If you are an entrepreneur that is eager to get networking and talk with investors, mentors, or fellow entrepreneurs, we invite you to attend our many networking events and become a member of the entrepreneurs collective.