7515 Entrepreneurs Lounge: On Networking

Effective networking is an essential tool for any professional, in particular entrepreneurs. The 7515 Entrepreneurs Lounge is a lot about finding other people with the same aspirations, about sharing resources, and about developing our entrepreneurial spirit. In other words, the Lounge is a lot about effective networking.

An excellent resource on this topic is the podcast by the startuplounge.com cofounder Michael Blake. Next I summarize some of the ideas Michael discusses in his website.

Networking is a critical business skill regardless of what you do.
It is about building human resources that don't belong to your company
You build Social Capital for yourself and your company.
You can make resources available to you at little or no cost.
It allows you to find capital, customers, managers, help or advice. These resources can be bought, but through networking they can be available at the expense of time rather than cash.
Make a commitment to networking.
Don't be a 'social panhandler' where you expect to get things and benefits from others; think instead how you can offer something to others and make it your initial investment.
Take a genuine interest in other people.
What if you are shy? - You need to grow beyond your perceived limitations.
Get into the habit of small talking with other people for practice.
Prepare your elevator pitch.
Network with other entrepreneurs. They share the same interests, needs, and challenges.