Networking for Entrepreneurs - Entrepreneurship 101

Networking for Entrepreneurs

MaRS Entrepreneurship 101January 21, 2015

Presented by: Andrew Yoshioka President, Sanbonki Inc.

www.sanbonki.com @ay_sanbonki_inc

http://www.sanbonki.com/

How can networking mitigate these from happening to your venture?

2Wednesday January 21, 2015 Entrepreneurship 101 - Networking

http://fortune.com/2014/09/25/why-startups-fail-according-to-their-founders/

https://www.cbinsights.com/blog/startup-failure-post-mortem/



Why do other people go to networking events?

• Business development

• Investment/Investor relations

• Corporate development

• Validate ideas/Market research

• Find partners/co-founders

• Find a job

• RELATIONSHIPS

• Deliberately came to hear your sales pitch!!

..

Wednesday January 21, 2015 MaRS Entrepreneurship 101 - Networking 3

4 Steps to Network Like A Pro

• Remember that networking is a two-way street

• Understand the business of those in your network

• Prioritize your network

• Don’t burn bridges

www.inc.com/rhett-power/4-steps-to-networking-like-a-pro.html?cid=sf01001

http://www.marche-restaurants.com


http://www.inc.com/rhett-power/4-steps-to-networking-like-a-pro.html?cid=sf01001

http://www.marche-restaurants.com/

Avoid these three mistakes

• Misunderstanding there is a pecking order

• Asking to receive before you give

• Failing to specifically state your value proposition

https://hbr.org/2014/02/three-mistakes-to-avoid-when-networking/?utm_campaign=Socialflow&utm_source=Socialflow&utm_medium=Tweet

http://www.marche-restaurants.com


https://hbr.org/2014/02/three-mistakes-to-avoid-when-networking/?utm_campaign=Socialflow&utm_source=Socialflow&utm_medium=Tweet


• Bluetooth Low Energy

• Low-power sensor hub

• Pattern-matching accelerator

• 6-axis accelerometer/gyro

• Open source software

http://www.wired.co.uk/news/archive/2015-01/07/intel-curie-quark-chiphttp://www.theverge.com/2015/1/6/7505423/ces-2015-intel-curie-module-wearables

• “Intel's Curie Module lets anyone build wearables the size of a button”

• “…gets you pretty far along towards a product”

How are you describing the product?Features vs. Benefits

Intel CES 2015Intel CES 2015


http://www.wired.co.uk/news/archive/2015-01/07/intel-curie-quark-chip

http://www.theverge.com/2015/1/6/7505423/ces-2015-intel-curie-module-wearables

Get a social bank account –and make deposits!

• Asking for an introduction

• What will they say about your company?

• How will you get them to describe it the way you would want it described?

http://www.inc.com/adam-fridman/why-p2p-marketing-is-the-key-to-everything.html?cid=sf01001

http://www.marche-restaurants.comhttp://www.meetup.com/medtech/photos/


http://www.inc.com/adam-fridman/why-p2p-marketing-is-the-key-to-everything.html?cid=sf01001


http://www.meetup.com/medtech/photos/

Expanding your relationships

• Create your network from scratch

• Volunteer

• Talk to strangers

• Search out potential collaborations

• Reach out before an event

http://www.entrepreneur.com/article/229440 Master Your 'Mingle-Ability': 5 Creative Ways to Network


http://www.entrepreneur.com/article/229440

Corporate development

• Ask others about their story, LISTEN!!! Warm them up to you

• Build your network before you need it

• Follow-up, every time

http://www.entrepreneur.com/article/239123 Build a Network That Will Be There When You Need It With These 3 Tips





Effort allocation/opportunity cost

• Networking at trade shows

• Business groups (B.o.T., meetup)

• Hackathons/Startup events

• Speed Networking

• Pub nights

• Social media

What are your Benchmarks of Success for these tactics?

http://convention.bio.org/


http://convention.bio.org/

Social media connections

11Wednesday January 21, 2015 MaRS Entrepreneurship 101 - Networking

• Social media platform etiquette: Twitter vs F/B vs Linked In

• Conversations are a gateway opportunity

• Keep in touch

• Reach beyond the screen– Familiar elevator pitch

– Open to any opportunity

– Be yourself

– Go out and introduce yourselfhttp://www.entrepreneur.com/article/240721 A Startup's Guide to Professional NetworkingYahoo!, President & CEO


Follow your plan/metrics

Sanbonki Inc. metrics:

• JAN2012 Peel RIC, LSO volunteer, 80 connections

• JAN2013 Two collaborations, 180 connections, most business via long time connections

• JAN2014 – DEC2014 90% of repeat business from new customer segments since 2012, 4-5x sales2012, 628 connections



http://www.inc.com/christina-desmarais/7-networking-tips-for-introverts-extroverts-and-the-socially-awkward.html

http://www.inc.com/christina-desmarais/7-networking-tips-for-introverts-extroverts-and-the-socially-awkward.html

Compiling a network (example)

[L-R] Nadia (CCRM & BTA volunteer), Anne-Claire (Wyatt & BTA volunteer), Stefano (Axela), Nathalie (Six Degrees/OBI & LSO volunteer), Rene (Weston Brain Fdn), German (Regxia)


How can networking mitigate these from happening to your venture?

15Wednesday January 21, 2015 Entrepreneurship 101 - Networking





Networking for Entrepreneurs

MaRS Entrepreneurship 101January 21, 2015

Presented by: Andrew Yoshioka President, Sanbonki Inc.

www.sanbonki.com @ay_sanbonki_inc

QUESTIONS?

http://www.sanbonki.com/

Five-minute blogs to read

http://www.inc.com/diane-gottsman/10-tips-for-your-next-networking-event.html

http://wwwbusinessgrowthstrategies.ca/2148/networking-waste-time/

http://www.inc.com/peter-economy/10-habits-of-remarkably-powerful-networkers.html?cid=em01014week52c

http://www.inc.com/rhett-power/brighten-your-season-with-these-6-holiday-networking-tips.html

http://www.inc.com/kelsey-libert/5-networking-tips-extroverts-can-learn-from-introverts.html?cid=sf01001

http://m.fastcompany.com/3038750/strong-female-lead/the-secrets-to-successful-networking-from-the-most-connected-women


http://www.inc.com/diane-gottsman/10-tips-for-your-next-networking-event.html

http://wwwbusinessgrowthstrategies.ca/2148/networking-waste-time/

http://www.inc.com/peter-economy/10-habits-of-remarkably-powerful-networkers.html?cid=em01014week52c

http://www.inc.com/rhett-power/brighten-your-season-with-these-6-holiday-networking-tips.html

http://www.inc.com/kelsey-libert/5-networking-tips-extroverts-can-learn-from-introverts.html?cid=sf01001

http://m.fastcompany.com/3038750/strong-female-lead/the-secrets-to-successful-networking-from-the-most-connected-women

http://money.howstuffworks.com/business/professional-development/10-networking-tips-people-hate-networking.htm

http://www.entrepreneur.com/article/239476 Stop Leaving Networking to Chance

http://www.entrepreneur.com/article/239340 The 10 Most Important Steps to Becoming a Master Networker

http://blog.tdsbusiness.com/tips-advice/4-simple-ways-to-motivate-your-network-to-give-you-customer-referrals/

http://www.entrepreneur.com/article/239307 Don't Let These 5 Excuses Stop You From Networking

http://www.entrepreneur.com/article/237961 The Power of Building Offline Connections in a Digital World



http://money.howstuffworks.com/business/professional-development/10-networking-tips-people-hate-networking.htm



http://blog.tdsbusiness.com/tips-advice/4-simple-ways-to-motivate-your-network-to-give-you-customer-referrals/



http://www.entrepreneur.com/article/238257 5 Tips for Authentic Networking in a Co-Working Space

http://www.entrepreneur.com/article/228151 How to Get More Out of the Time You Already Spend Networking

http://www.entrepreneur.com/article/233549 An Expert's Guide to Steering a Conversation

http://www.entrepreneur.com/article/233808 Strategic Networking and How to Make the Most of Your Evenings

… and a 53-page review by Rotman and Harvard professors:

http://hbswk.hbs.edu/item/7528.html The Contaminating Effects of Building Instrumental Ties: How Networking Can Make Us Feel Dirty







http://hbswk.hbs.edu/item/7528.html

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