企业家如雷竞技手机版何最大化网络分辨ase FundingNetworking can seem daunting, but every entrepreneur knows its power -- especially when it comes to raising funds.

ByKimberly Zhang

Opinions expressed by Entrepreneur contributors are their own.

Networking is a powerful entrepreneurial tool. Whether you're trawling for new clients or seeking to gain new skills, it can delivermyriad benefitson both an individual and a business-wide level.

Networking can help owners keep both themselves and their business at the forefront of their industry. It can also be a critical lifeline to find new investors during the startup and growth phases.

To help maximize your networking efforts, particularly if you're seeking funding and investments for your company, try these three tips:

1. Steer into virtual networking

In the past, networking was largely an in-person activity. However, in recent years, virtual networking has become both an acceptable and common way to connect with other professionals.

The recent public health crisis took that trend and gave all things virtual a steroid shot. Not only did the pandemic boost remote work, but shelter-in-place orders and social distancing mandates increased the need for virtual networking as well.

Some of this need has been met by industry behemoths like LinkedIn, Twitter and Facebook, each of which addresses various virtual networking requirements. LinkedIn provides professional information in an online format, while Facebook is great for group-centered communication and the sharing of information. Twitter provides up-to-date and breaking industry news. But these legacy platforms are far from the only games in town.

One platform taking a new angle on the making of virtual business connections is Upstream, which launched in October 2020. Rather than trying to outdo LinkedIn's "Rolodex" capabilities, Upstream's banner feature is theProfessional Ask. Whether you're seeking a new marketing manager or a seed round, you can put your request out there — and get a response. Entrepreneurs have found the platform an effective venue for raising funds.

Related:How Are Virtual Events Facilitating Community Building And Networking

From posting résumés on LinkedIn to joining interest groups on Facebook, there's more than one way to meet your virtual networking goals. Investigate your options so you can start making connections in search of funding and support.

2. Set clear networking goals

Speaking of goals, if you want to be effective in your funding-focused networking, you need to make a plan. This can help you tailor your networking efforts to help ensure they work toward luring potential investors on a regular basis. Some powerful networking goals include:

Focusing on quality connections

You should always value quality over quantity when it comes to your network. Bonnie Elliot of BDC's Calgary Entrepreneurship Centre recommends cultivating "the movers and the shakers" of the business world. It's these hyper-connected individuals who can steer you to the professional mentors and funding sources you need, not the 50 casual contacts you might make at some random event.

Polishing your delivery

Networking should never be a performance. It needs to feel natural and organic. However, asking for funding can make anyone nervous, so it pays to hone your delivery. Take some time to get your pitch straight. Weed out unnecessary details and practice being concise. Find the facts and statistics that truly matter. Get used to communicating both online and in person.

Identifying clear opportunities for your "ask"

You'll also want to learn to recognize what is a good opportunity to make your funding request and what isn't. If you're actively collaborating with a busy entrepreneur, that's not the time to interrupt your joint efforts to make your pitch. If you want to approach them about funding a new project idea, send an email or book an online office hour session instead.

While your ultimate objective is securing funding for your venture, recognize that some intermediate networking goals are a prerequisite. From whom you network with to what you say and when you say it, it's important to set goals beforehand.

Related:The 5 Golden Rules of Goal-Setting

3. Don't get discouraged

Networking can feel like a lot of work — especially when you're trying to recruit investors. You need to find the right tools. You also want to invest in the right relationships. Even if you succeed with those requirements, you may still find your attempts to raise funds too often meet with failure.

When this happens, remember that you're not alone. There are countless others who are in a similar situation to yourself. Like you, they are out of their comfort zone, looking to make professional connections that can be mutually beneficial in the future. If they can persevere, so can you.

Above all, resist slipping into discouragement. Lawyer turned entrepreneur Ryan Clements recommendsre-framing failureas education. If a networking attempt didn't turn out as you hoped, there are other contacts, other pitches, and other opportunities you can try. Evaluating what didn't work in one networking situation will help you do better next time.

As you set up virtual networking tools and devise strategies, guard your emotions against discouragement. The willingness to keep trying is critical. If you can do that, sooner or later your well-equipped, strategic, thoughtful networking attempts will yield financial fruit — and likely many other benefits besides.

Related:How to Take 4 Strategic Steps Outside of Your Comfort Zone

Funding for your venture won't fall from the sky, so you're going to have to do the hard work of seeking it out. Networking is a critical component of that search, and when you embrace these tips, you'll increase your chances of making it a successful one.

Wavy Line
Kimberly Zhang

Entrepreneur Leadership Network Contributor

Chief Editor of Under30CEO

Kimberly Zhang, president and editor in chief of Under30CEO, has a passion for educating the next generation of leaders.

Editor's Pick

We're Now Finding Out TheDamaging Results of The Mandated Return to Office— And It's Worse Than We Thought.
He 'Grew Up in Bars' and Was Drinking By Age 10 — But Entrepreneurs Changed His Life. Now a Business Owner Himself,He's Paying It Forward.
LinkedIn Changed Its Algorithms — Here's How YourPosts Will Get More Attention Now
'Focus Is Just as Important as Passion': How to Avoid雷竞技手机版企业家精神缺失症in Franchising
Lock
Kevin O'Leary Recommends This6-Step Strategyfor Making Money on Social Media
Lock
ThisMindset Shift Changed My Life— And Gave Me the Courage to Leave My Well-Paid Full-Time Job.

Related Topics

Franchise

How to Measure Franchise Success With Your Income Statement

When you master the income statement, you'll be well on your way to running a profitable business.

Business News

Guard Against Phishing Schemes With This Low-Cost VPN

Get a Lifetime VPN for your business at a low cost before Prime Day.

Growing a Business

We're Now Finding Out The Damaging Results of The Mandated Return to Office — And It's Worse Than We Thought.

Companies knew the mandated return to the office would cause some attrition, however, they were not prepared for the serious problems that would present.

Marketing

46% of All Google Searches Have to Do With Location, One Report Says — and Purchases Often Follow. Here's How to Boost Your Business' Visibility Locally.

Explore proven techniques and actionable tips to help you enhance your business visibility in your community and stay ahead of the competition.

Business News

Mark Cuban Reveals the No. 1 Way to Start a Business That Makes You a Billionaire

Investors aren't always the surest path to success.

领导

Some People Aren't Cut Out to Be Managers — And That's Okay. Here's What You Can Do Instead.

It is possible to climb the career ladder in other ways. All you need to do is be self-aware and look for career opportunities in other areas.