As a start-up founder, you might be familiar with networking. In businesses especially, what we have doesn’t matter as much as who we know. Because who we know helps people take a chance on us first. As most of our professional opportunities are the result of our connections, it is wise to bank on the potential of networking. While networking is essential to growing a venture, you can hit a roadblock if you stick to making connections with only people you know. What if we told you there’s a whole trail of connections you can benefit from, if only you got a little more proactive with tapping into those resources. The people you know, know other people, who know other people, and that chain of connection can give you entry into untapped spaces and opportunities for growth. Here’s how:
1. Not every relationship has to be close – The limitations of first-degree connections.
We often have this misconception that we can only talk to or ask for a favor from someone we already have a rapport. While it is often great that we can reach out to our pre-existing relations for personal or professional guidance, requests, or referrals, various research shows that only a handful of first-degree or close connections can actually help you out, especially in your professional ventures. This is tied to the risk and accountability that comes with referring someone you know. For instance, if you go to a close relative, friend, or former colleague, for a job referral, the chances are they might hold back from referring or even passing on a job opportunity because of the fact that their career might be at risk in case you don’t work out. Since they know you more intimately, they are aware of your challenges and weaknesses, and might not be willing to take on what feels like a very personal bet in front of their employers or business ventures.
2. People love to help more than you think – Leveraging the power of second-degree and third-degree connections.
You might have felt awkward asking a first-degree connection for a professional favor like a job referral or an investment pitch for your business. Let’s say you’re a start-up, and a first-degree relation is able to help you pool some funds, you still need to appeal to an investor with enough funding to spare. Here are where second-degree and third-degree connections trump first-degree connections. While someone in your closest network might not be able to help you first-hand, they can guide you to another known connection of theirs that can give you the opportunity you are looking for. The leverage here is that the second or third-degree connection would be curious enough to hear you out as well as comfortable enough to vouch for your skills. They would also feel better knowing there is no pre-existing relationship to jeopardize and it would be easier for you as well to take any constructive criticism that comes your way. All you have to do is build the courage to put yourself out there, and you might get surprised to see how many people actually like to help.
3. Levelling the networking playing field – Bringing 1:1 access to the top 1% of industry leaders with neonVest.
For someone at a corporate job or freelance role, networking and building beneficial professional relations can take place on social media platforms known for professional networking. One of the most current popular ways to build connections is through LinkedIn. Other apps include Facebook and Instagram, but their potential is limited too. For start-up founders, networking is a whole other ballgame. Founders looking for VCs often have to be consistently proactive in sending personalized emails, finding and attending conferences, and listing potential investors – all without guaranteeing any positive result. The entire process is unpredictable, exhausting, and time-consuming. Start-ups with no previous and credible connections to back them up might have a harder time getting through to VCs in the first place. To level the investor-startup playing field and give equal access to start-ups despite factors like their location, age, financial background, or other restrictive factors, founders are turning to neonVest. With neonVest, startups can interact 1:1 with over 500+ expert VCs from different sectors and corners of the world. Some of whom have reached/ funded unicorn-level valuations. You can get direct access to honest feedback, practical guidance, referrals, and even funding – all at an affordable monthly, quarterly, or yearly subscription price.
