Business Networking for Startups
Clients and investors. These are the two main reasons why startups hang around business events non-stop. In overcrowded business ecosystems, valuable contacts make the most of ROI for startups. Now imagine you could generate more connections in one event than many companies manage to establish in their entire lifetime. Participating in speed business meetings is the best way to expand your professional contacts, raise awareness, and find sponsorships and first clients because such events set networking as their primary goal.
Business networking: Definition
Business networking is a form of interaction between company owners, investors, and clients that focuses on the establishment of mutually beneficial relationships. For startups, business networking events represent the opportunity to introduce their products/services to their target niche, attract an audience, or build a team of talented professionals.
The benefits of business networking
A speed networking format is a smart, value-generating channel if you want to promote your startup. Check out the core perks of business speed dating:
- Presence. Ensure that your business is visible by building your personal profile at industry-related networking events.
- Expansion. Generate new contacts and referrals, expand into foreign markets, or establish partnerships at startup networking events.
- Exchange. Knowledge and expertise are treasured resources for any fresh startup. Networking opens up space for sharing experiences and learning new things.
- Stay current. Tech progress is fleeting, and to get through the door into a target industry, startupers have to keep pace with the market trends.
Speed networking instructions and rules
Launching an event in which every guest enlarges his/her list of contacts is possible if everyone has a well defined goal. To magnify startup achievements, set up clear instructions for speed networking:
- Define the format. The conventional format of business matching for startups includes two groups of participants; one of which is stationary and the other rotating. Based on your audience and goals, establish the format and the length of dialogs to clarify the rules.
- Provide instructions for an “elevator speech.” Meaningful interaction starts at home. This is the rule for all startupers who aim to build business connections through speed networking. Set the guidelines and encourage the participants to develop short pitching speeches before the event to be ready for a constructive dialogue when the time comes.
- Sabotage business cards. Although many business people can’t stand the separation from a stack of business cards, digital networking has long ago gained an upper hand. Enable the use of event apps at your speed networking event to allow convenient sharing of personal contacts and presentations in few clicks.
- Follow up. Digital data gained from business networking provides startupers with a great tool for network expansion. However, sometimes the connections might be lost due to the lack of time or ineffective follow-up interaction. To enhance communication, organize a thematic meetup for startups a month or two after the event. This way, startup owners get a second contact with prospective clients and partners or can simply have a friendly chat with their new contact personas.
How to set up online business speed dates
Neither a secret nor a wonder is that the most of startup exploration happens online these days. Setting up an online business networking event has many advantages including greater outreach, flexibility of presentation of digital data, and the absence of communication barriers.
Start the process by selecting a platform for contest management. Since online business networking has to be targeted, you should filter out irrelevant participants. An automated software will help you set up a pre-pitching event online with which you’ll evaluate submissions and shape the right audience.
Do your research about the target industry and advertise the upcoming event online to attract investors. To magnify results, you could also target potential sponsors through email marketing.
At the next stage, shape an agenda and a schedule for networking. To make it work, you have to provide participants with the schedule of their private matching sessions as well as their shared discussions.
Lastly, evaluate the results through follow-up interaction. As an option, you could send the contacts or digital presentations of the participants via email or retrieve analytics that reflect the startup ideas that generated the greatest buzz at the event, etc.
Business networking for startups: The best tips for organizers
Depending on the format and size, your business networking event can be quite a headache. However, if you stick to the end goal and craft a well thought-out organizing plan you’re out of the woods. Check the following life hacks for the organizers of networking events:
- Involve a connector. Especially at in-house events, it might be difficult to start a dialogue, find the right person, or control the length of their speeches. This is why you should think about involving a connector who introduces people to each other and manages the schedule.
- Cater to local. Many investors and startupers who show up at the networking events are interested in growing their business ecosystems on the local level. Consider this issue when creating the schedule to ensure that local connections are on the list.
- Automate the process. The use of an automated platform for event management as well as an event app will make your life easier. Simplify pre-pitching submission, send notifications through the integrated platform, and foster connections online.
Conclusion
To expand your professional network and raise funds for your startup, there’s no better place than business networking events. To harvest the maximum benefits from speed business meetings, the organizers have to set up a smart event schedule, build thriving communication, and simplify the operational processes. Get started with Judgify to grow your events for startups online.