What is a false step that new entrepreneurs often take at networking events and what should they do? Because?
These answers are provided by the Young Entrepreneur Council (YEC), an invitation-only organization made up of the world’s most successful young entrepreneurs. YEC members represent almost every industry, generate billions of dollars in revenue each year, and have created tens of thousands of jobs. More information at yec.co.
1. Focus too much on yourself and your business
Often, when it comes to setting up your own business, it’s easy to get caught up in your own world. The advantage of networking events is that you can expand your network and learn from others. However, none of this happens if someone is so focused on themselves and their own business. Take the time to listen, ask questions, and learn about other people’s business. This will help you by default.
– Nic DeAngelo, Saint Investment Group
2. Do not take initiative
I have seen many new entrepreneurs who will ask for a meeting or a call but will never take the initiative. If you think the party can help you achieve something, don’t expect them to step in. Take the initiative and write an email or dial their number. If you keep waiting, the wait will never end.
– Josh Kohlbach, Wholesale Suite
3. ‘Connection’ instead of connecting
I hate the phrase “network events.” Don’t connect to the network – connect! “Network” is basically exchanging business cards, which will be lost in a bag or drawer. To be successful in such events, you should try to make fewer and more meaningful connections. Find out what someone is passionate about, what they are doing, what they really care about, and then build a relationship from there.
– Ashley Sharp, Dwell with Dignity
4. Lack of a clear goal
A false step that new entrepreneurs often take is not having a clear goal about why they are at the event. Many people arrive and get lost because they do not know who to approach and what to say. Instead, have a plan. Make sure you know who your target contacts are and what you want them to say. This will help you focus your attention and make the most of your time there.
– Blair Williams, MemberPress
5. Hit the competition
I never understood why new entrepreneurs go to events just to spend half the time hitting companies that also operate in their industry. This is not a good way to build partnerships, sell your product, or show an optimistic brand personality. Instead, I would like more people to attend networking events, focus on their brand, and bring positivity to the community.
– John Turner, SeedProd LLC
6. Do not provide evidence
New business leaders want to tell potential customers and partners at networking events about their product or service; this is normal. However, many people do not have tangible evidence to prove their claims. You can’t tell people that your product will help them grow their email list by 2000%, for example, without at least a success story or data that proves your point.
– John Brackett, Smash Balloon LLC
7. Hurry up the sale
Make meaningful connections because you never know when you’ll need someone to work with along the line. Befriend them; don’t just rush the sale. You’ll find that often the only deciding factor for any investor or partner is, “Do I like them?” You’ll spend a lot of time with someone, and if you don’t know their core values, this misalignment can lead to potential losses.
– David Chen, GTIF Capital
8. Explain to others what they want to hear
During networking events, you will see many new entrepreneurs telling established professionals what they want to hear. There’s nothing wrong with doing a few compliments, but overdoing it won’t get you anywhere. It is much more impressive to express your skill set and show others what you bring to the table.
– Stephanie Wells, Great Shapes
9. Waiting for others to approach you
One of the biggest mistakes new entrepreneurs make in networking events is waiting for other people to approach them. They don’t realize that not reaching out to people makes them seem uncomfortable. Instead of waiting for other people to approach you, be proactive and approach other people first. Introduce yourself, ask about your business, and provide business contact information.
– Syed Balkhi, WPB beginner
10. Brag about yourself
You shouldn’t brag about who you are and what you do. This is sure to turn people off quickly. Take the time to find out who they are and what they are doing. People love to talk about themselves. Let your guest speak first and what excites them. Then go with your presentation.
– Mary Harcourt, CosmoGlo
11. Let the social aspect get in the way
I think new entrepreneurs (and honestly experienced ones too) can often be distracted at networking events with general socialization and joy and will forget the purpose of why they are at the event. Often, these people can interrupt what may be a crucial meeting for someone’s future. Entrepreneurs, on the other hand, need to remember that socializing is okay, but this event has a deeper purpose.
– Salvador Ordorica, The Spanish Group LLC
12. Make exaggerated claims
It is a mistake to say that there is no other product or service on the market like your product or service. When a new employer says something like this, it’s an instant warning that they have no experience. Pie-in-the-sky claims are a quick fix for experienced entrepreneurs who are more interested in actual data and use cases than talking about an untested product or service or an exaggerated claim.
– Jonathan Prichard, MattressInsider.com