The Virgin boss, Richard Branson shared tips on the why entrepreneurial networks are highly important. He believes that entrepreneurs are only as strong as the network they maintain.
Building and maintaining a strong, robust network is very valuable in laying the foundations of a business. Here’s tips from Richard Branson on entrepreneurial networks and why it is important:
1. Like-minded people thrive together
To learn and gain inspiration from, it is good that entrepreneurs surround themselves with like minded people. Things are not as smooth as one would like it to be in the beginning of an entrepreneurial journey and that’s when an entrepreneurial networks could act as allies to one another and offer support.
2. Non-like-minded people matter too
Spending time with those who are like-minded could help you thrive, on the flipside, by spending time with people who aren’t, could teach you a great deal where there is no observable crossover.
Glancing out of one’s circle or even industry could help one gain some lessons. You could try to implement some of the processes or methods of other industries that have proven well and adapt it to your own.
3. Technology and human touch go farther
While technology is a great tool to use for learning and probably building skills as well, the human connection that one shares with someone of repute or experience – to learn from – makes a significant difference. Taking advice and lessons learnt from someone who has been there, done that could enhance your own outlook.
So while you make use of technology to amass a lot of ‘how to’s’, interacting with real people with tried and tested experience makes for impactful training.
4. Strong entrepreneurial networks edge you on
Starting up a company can be patience-testing, tiring and stressful and requires a good capacity of mental strength. The support that can come from strong entrepreneurial networks help a lot and keeps the difficulties from getting too far.
Surrounding yourself with fellow-travelers on a similar journey makes it seem easier to surmount and there’s probably someone who can give you practical tip and personal support to pull you through.
5. Keep track of other businesses
It is important to keep track of other businesses, to watch and learn what they do and how. It gives you a better perspective of what’s out there and helps you think locally and globally.
Small businesses make a huge impact, irrespective of the sector and by watching what global players are doing there is much to be learned – and aspired.
6. Sharing goals to motivate one another
Sharing your success with peers and vice versa lends a certain bond that keeps you edging on. Sharing your goals with them creates a certain amity. Listening to your network’s stories and plans are inspiring and also put your plans in place.
Even if and when your startup builds into a big business, you never stop learning. Continuing to improve and evolve is what entrepreneurship is all about. The mental boldness to strive for a notch above in whatever it is you are involved in is what gives business owners the ability to seemingly challenge the world.