NETWORKS

AND TEAMS
 TOPIC FOR DISCUSSION
The Power of Networks

The Value of Networking to Entrepreneurs

Ways in Doing Networking

Start Networking

Incubators and Accelerators

Networking to Build the Founding Team

Characteristics of a Great Founding Team

THE POWER OF
NETWORKS
THE POWER
OF NETWORKS
Networking is valuable to any business professional
but especially entrepreneurs. When starting out, an
entrepreneur’s network can open doors to critical
opportunities, knowledge, and support that can be
the difference between a venture that succeeds
and one that fails.

→
A STRONG
1 Practical Advice
NETWORK CAN
PROVIDE YOU: 2 Funding and Investments

3 Clients and Referrals

4 Support
FOR NETWORKING
SUCCESSFULLY, I BE PROACTIVE
RECOMMEND YOU TO:

BE GENUINE

BE INCLUSIVE
 THE VALUE OF
NETWORKING TO
ENTREPRENEURS
WHY IS NETWORKING
SO VALUABLE?
Simply put, networking means building connections with other professionals.
Networking should always be beneficial to both parties. The reasons why
networking is important to include a better reputation,
increased visibility, a stronger support network, improved
business growth, and more impactful connections.
Through these new relationships, you can make
progress on your career path quickly. When you
look at it that way, it's clear why networking is
such a powerful tool — for introverts, too.
HOW IMPORTANT IS
NETWORKING TO SUCCESS?
Through interacting with people, you will keep a pulse on the job market,
stay in touch with current trends, and meet prospective clients, partners,
and mentors. Besides developing and improving your skillset, networking
gives you access to the resources necessary to foster your career
development.
REASONS WHY NETWORKING
IS ESSENTIAL FOR YOUR
CAREER:
An avenue to exchange ideas
It makes you noticeable
Avenue for newer opportunities
Reassessing your qualification
Improves your creative intellect
An extra resource library
Support from high profiles individuals
Growth in status
Growth in self-confidence
Develop long-lasting relationships
WAYS IN DOING
NETWORKING
WAYS IN DOING
NETWORKING
Make a plan
1 Identify your goals before heading to
networking events. Map out what you
want to talk about and prepare your
business cards.

Get started Be active in your area

2 Start interacting with everyone to
learn what sorts of events your peers
3 Speaking with other local
business owners will help you
are attending. You should engage in learn about new marketing
conversations with the goal of methods and develop more
making an impression. opportunities.
WAYS IN DOING
Network everywhere
NETWORKING 6 Keep networking wherever
you go.
Attend events
4 Join several online communities.
Attending events can help expand
your network and it is a great way to
learn new things.

Follow up and follow through

5 Follow up on conversations, get in
touch with your connections. The
goal of networking is to connect and
maintain healthy relationships.
 START
NETWORKING
START NETWORKING
According to the research report made by the
Economist Intelligence Unit (EIU), for 78% of startups,
networking is absolutely necessary for entrepreneurial
success (Economist Intelligence Unit, 2016).

IMPORTANCE OF NETWORKING AS AN ENTREPRENEUR

Networking is a vital part of any business that helps an entrepreneur
create a healthy rapport with people in the industry, gaining important
insights from veterans and, in turn, helping them to scale heights in
terms of sales and prosperity as an enterprise.
THE 5 BIGGEST BENEFITS OF
BUSINESS NETWORKING
Opportunities
One of the most fundamental factors why networking is considered essential for an entrepreneurs.

Social Circle
It will eventually lead to a larger social circle and, in some circumstances, lifetime companions.

Connections
Networking makes it easier to establish a solid relationship and a good
connection with those in your business. These contacts will be extremely
useful in an unexpected time of need.
Confidence
Interacting with people with various personalities and backgrounds builds
your confidence, which is a very important part of your personality as an
entrepreneur.
INCUBATORS &
ACCELERATORS
 They typically serve multiple early stage
startups with companies representing a
wide range of disciplines. Incubators are
heavily focused on regional economic
development and funded through a
combination of public sources and private
grants. Strong relationships with regional
players at universities and venture capital
firms can help to further nurture a talent
pipeline that supports innovation and
regional prosperity. Though companies can
INCUBATORS mature out of an incubator after achieving
Incubator programs are designed for startups significant milestones, there is no set start
refining their business plan as they navigate or end date in duration for companies to
challenges from the idea stage through the participate. Many incubators also function
growth stage. as not-for-profit entities.
BENEFITS
(INCUBATORS)
Access to desk space, coworking space, or startup
studios.
Reserve conference rooms for meetings.
Collaboration and co-creation among participating
startups.
Structured support from mentors and industry
experts.
ACCELERATORS Companies may be accepted into the
accelerator through an application process,
Accelerators are specifically designed for and also the cohort could well progress
startup companies in the idea and growth through the program around each other.
stages. Startups chosen to take part will have The economic focus is on building the
a minimum viable product, possibly a portfolios of companies in each cohort and
prototype, and possibly pre-seed funding. supporting these companies in growing at a
Accelerators act as catalysts for rapid growth faster rate. Most accelerators cooperate
in startups by providing professional levels of with angel investors, venture capitalists,
promotion, education, and capital that seasoned founders, and industry experts to
otherwise take years to achieve oneself. advise and work collaboratively with other
Accelerators frequently have clear start and entrepreneurs. Startups could overcome
end dates, lasting no more than a year and common challenges in a shorter time period
generally between three and six months. including one mentoring.
BENEFITS
(ACCELERATORS)
Participate in a focused, disciplined program designed
specifically for your industry or sector.
Achieve key milestones while being mentored by
experts.
Build camaraderie with other founders who are at the
same business journey phase.
NETWORKING TO
BUILD THE
FOUNDING TEAM
NETWORKING TO BUILD
THE FOUNDING TEAM
Networking is essentially building relationships with
people. Not only does networking help you learn
communication skills, it can also open up new
opportunities for startup founders and their startups.
The first step to networking is putting yourself out
there. You can build connections through social
media, events, meetings, conferences, work, or any
place that has people. You can find connections
anywhere. The goal here is to build your network,
quality and quantity are both important.
 Builds trust

Fosters better
communication

Improves performance

BENEFITS OF Embrace diversity

among working teams
NETWORKING TO
BUILD THE Embrace diversity
among working teams
FOUNDING TEAM
CHARACTERISTICS
OF A GREAT
FOUNDING TEAM
 CHARACTERISTICS

2 4 6
Vulnera- Obse- Humor
bility ssion
(Brene Brown)
1 3 5 7
Growth Grit Respect Empathy
Mindset (Angela
Duckworth)
(Carol Dweck)
 REFERENCE

https://www.forbes.com/sites/steveblank/2013/07/29/building-great-founding-teams/
https://www.techstars.com/the-line/advice/the-seven-qualities-of-a-great-founding-team
https://www.bdc.ca/en/articles-tools/entrepreneurial-skills/improve-networking/business-networking-tips-entrepreneurs
https://www.forbes.com/sites/theyec/2014/07/28/how-to-network-the-right-way-eight-tips/?sh=7caea06e6d47
https://www.tycoonstory.com/entrepreneur/8-ways-to-improve-your-entrepreneurship-network/
https://www.linkedin.com/pulse/power-network-ines-adriana-olano?trk=articles_directory
https://online.hbs.edu/blog/post/networking-for-entrepreneurs
https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.interviewbit.com/networking-interview-questions/amp/
https://annarborusa.org/news/what-is-the-difference-between-startup-incubators-and-business-accelerators/
https://www.forbes.com/sites/federicoguerrini/2016/11/10/study-for-78-of-startups-networking-is-the-key-to-entrepreneurial-
success/?sh=408d301d4195
https://wealthdynamics.geniusu.com/blog/entrepreneurial-networking-what-it-is-why-it-is-important/
https://smallbusinessbc.ca/article/five-benefits-networking/
https://foundr.com/articles/leadership/founding-team
THANK YOU
PRESENTED BY GROUP 2