How to Build Your StartUp Networks

VenturX
9 min readJun 14, 2021
Networking

“It takes a village” is a parable that applies not only to raise a child but also to running a business. No business in history has ever been able to create products, sell them, improve on them and manage interactions all on their own. Networking is essential in order to grow your business. Now we will discuss two very important networks, the informal network and the formal networks. Informal networks are grown by having good customer relations, this network is created through word of mouth from the consumer. Formal Networks are networks that are built through the effort to engage with other business leaders and this is critical for any startup, as working with other entrepreneurs significantly increases the rates of success.

Finding and Networking with Customers

Customer Expectations

Customers are the lifeblood of any business, nothing can survive without them. However, startups are always struggling with how to find them, especially the first few customers are some of the most difficult to find. In order to find those first customers, most founders opt to work their personal networks, however, at the same time you need to work on building up an online presence. Today everyone has some form of social media and being where they are is vital to get those clicks and traffic for your business. Once you have your first few customers you can begin to expand by managing your informal network. This period can be seen as a maintenance and growth period for the company.

LinkedIn Networking

This failure is quickly causing many startups to shift their attention from solely focusing on their product to better serving their customers. Serving the customers to their expectations is critical as their feedback will be important for growing your informal network of customers. More than 65% of all customers believe that a business’s customer service needs to improve or dramatically become faster.

Some groups even speculate that in the next few years 90% of businesses could be competing based on their customer

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VenturX

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