Thursday, August 21, 2008

Startup Tactics : Realizing the power of social networking


A lot of startups put all their energies in developing their products/services. They don't realize the power of social networks which can do wonders for them. Spending good amount of time to make world-class offering is a good move, but you can't do it at the cost of losing the opportunity of being networked. Being active in various forums help you to connect to multiple people with different skill-set and opinions. Ideally one founder of startups should be very active in all networking events. There are some inherent benefits of being part of such events/forums. I am listing here some key benefits :

1. You Learn : The startup founders should be keen to learn new things on daily basis. A lot of people start their venture pretty early and hence don't know a lot of business and/ or engineering aspects. Generally talking to people at good forums helps you to learn from their experiences at no cost. A lot of them are candid enough to share their real experiences giving enough food for thought. One should always try to get engaged with people of diverse skill-set i.e. suppose you are heading sales but start talking to a senior HR person, then ideally you should learn best HR practices, employee motivation, knowledge management etc. The knowledge gained from these forums should be shared among core group members. The whole idea of such events is sharing for growth of the eco-system. Even though a lot of people/companies come for some objectives but still provide good ground for learning new things.

2. You Grow : Being part of such events help you to grow your personal network. Even though internet is fast growing and people are using internet as a medium to grow social and professional network, but still the warmth and relevance of face-to-face meetings is phenomenal. Even a small gesture like bringing a glass of water or offering dinner plate to other participant helps a lot. A lot of places do have informal set-up and starting a conversation is very easy. Don't try to be pushy and aggressive and try to engage in a healthy discussion. If there is a group talking on some topic of your interest, feel free to join and throw your ideas and/or listen to others. The whole process helps you to grow your personal network and spread a word about your company. After developing some rapport and few meetings may come-up for help in some form or the other. You should also be genuinely ready to help others in best possible manner. A lot of times, only the knowledge transfer is more than enough.

3. You Spread : Apart from knowledge sharing and learning, these events bring good amount of people looking for good opportunities/companies. These events provide enough opportunity to spread word about your company and requirements. There may be some technical requirements or sales requirements or funding requirements which can be propagated . Spreading the word helps you to reach out relevant people at almost no cost. A lot of people are updated about your growth, vision and passion. Be passionate and truthful to others. This would help you to get good guidance, right people and visibility. A lot of times such meetings also result in revenue generation, but while attending such event don't keep that objective on the fore-front. It takes time to develop some and generate business.

4. You Brand : Such forums provide enough opportunities to carry out small-scale branding exercise. Try to get involved as a speaker, volunteer, blogger etc. If you get an opportunity to speak, then try to pass-on your company's message without being invasive. Don't make 50 slides about your company, but pass-on the vision and summary about your work. Interested people would try to touch-base after your talk and/or during networking sessions. Even during normal conversations, try to put across your visions in best possible manner. Be active and show high level of energy and enthusiasm. A lot of people would try to relate your startup with your personality. So, being a brand-ambassador spread-out the right message to attract potential customers, partners, investors, employees, vendors etc.

In order to make your venture successful, you need to attend such events. After all success is not so easy; you need to work really hard.

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