Creating the perfect network
If you are starting a tech company, especially in a foreign market, your networks are what will get you ahead. You will learn from others mistakes and successes and connect to ideal advisors, customers, media, investors and service providers (lawyers, recruiters etc).
Here are three tips on how to network like a pro based on a presentation by Nathan Beckord at Foundersuite, software tools and templates for entrepreneurs including an Investor Search tool, the industry-leading Investor CRM to help manage investor relations. You can also hear his related podcast here (thanks to Nasdaq Entrepreneurial Center who provides resources to help entrepreneurs succeed).
1. Create list of at least 100 potential leads
Build your list of who you people you want to meet with. Here are a few relevant US websites: AngelList, LinkedIn, Glassdoor, Indeed, blogs, national papers, TechCrunch, Google search, FounderSuite, CrunchBase, PEHub, VentureWire, Conference Speakers, Quora, Medium, Pitchbook, Mattermark and if you are a Kiwi company reach out to NZTE, KEA and KLP, who all have strong networks in the US.
2. Filter for the “ideal person”
Focus on filtering for 50–75 direct leads based on competitors, similar industries, active in last few months (written articles/recently employed), sector and focus, geographic location (if relevant), reputation, cross check multiple sources besides their websites.
Start filtering your list by looking within your network on mutual connections through LinkedIn, AngelList etc., as you will be more likely to get an intro from a connection instead of spamming people. Americans don’t usually respond to cold emails/calls. Make sure to track your leads by using Trello, Google Docs, FounderSuite, KiteDesk, Insightly or another CRM. Then reach out to your connections and ask for an intro. If the person agrees, send a sample email the person can forward on to make it as easy as possible for them to make an intro for you (sample email here). Always make sure to follow up and thank the person who introduced you, so the person thinks you are serious and professional and will be more likely to make more intros in the future.
3. Set up meetings and follow up
Once you have set up meetings through mutual connections, make sure you have mastered your USP so it is clear what you offer and come prepared with a clear ask. In New Zealand, lots of people like to meet and get to know each other and it takes a few meetings before they get into the actual business. In the US, people expect within the first few minutes for an ask as they are busy. If you agreed on follow up steps, do it and follow up in an email on the agreements with due dates on both sides to have it in writing and set clear expectations. Make sure you follow up with an email within 1–2 days. To keep you and your business on the top of mind, send out bi-monthly or monthly update emails on your business to all the people in your network so they know about your progress and remember to connect and help you.
While this article helps you build a strong network, if you want to know what to talk about and how to converse like a pro at events like SaaStr (biggest SaaS conference with 10,000 SaaS professionals), check out Jon’s post with tips for someone who doesn’t consider themselves a natural networker.
