networking ENTREPRENEURSHIP
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Transcript of networking ENTREPRENEURSHIP
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7/30/2019 networking ENTREPRENEURSHIP
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NETWORKINGAdapted for Class Room Discussion By: Sharad Kamra
Designed By
RAJEEV ROYAssociate Professor & NEN Faculty LeaderXIMB
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Chapter Objectives
Rajeev Roy, XIMB
Entrepreneurship
Oxford University Press, 2008
To understand the concept of networking
To appreciate the dimensions of entrepreneurialnetworks
To know how to build a network
To understand how to manage your network effectively
To appreciate the importance of projecting the rightimage
To understand how to set up the right infrastructure for
networking
To enumerate the benefits of effective networking
To list the principles of effective networking
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Definition
Rajeev Roy, XIMB
Entrepreneurship
Oxford University Press, 2008
The entrepreneurs personal network has been
defined as, the relationships or alliances
which individuals develop, or may seek to
develop, between themselves and others
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Dimensions of a Network
Rajeev Roy, XIMB
Entrepreneurship
Oxford University Press, 2008
AnchorageWheres the focal point ? DensityAt what speed? To how many people? RangeHow many direct contacts? Type of contacts? ReachabilityHow far, How easy the accessability? BrokersHow extensively networked, connecting the
two Networks
ContentReason/s behind relationships IntensityStrength of the Bond, degree of honour
Durability- Satisfaction &length of relationship FrequencyHow frequently do you meet, contact,
interact
DirectionBalance of Power, flow of requests &Favours
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Starting & Managing Networks
Rajeev Roy, XIMB
Entrepreneurship
Oxford University Press, 2008
Characteristics of people in your network:
Competency
Dependability
Helpfulness
Networking Activities:
Proactive Networking Initiated by you
Reactive Networking Initiated by others
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Make up of Your Network
Rajeev Roy, XIMB
Entrepreneurship
Oxford University Press, 2008
Current suppliers, customers and channel members Other people from the industry including your direct
competitors Bankers, financiers and others from services sectors
which are closely related to your line of work Government officials, policy makers and administrators
whose work is related to your business Colleagues from your past work places Customers, suppliers and other business contacts from
your past work places.
People you know from meeting of alumni associations Other knowledgeable competent professionals from
other walks of like
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Size of the Network
Rajeev Roy, XIMB
Entrepreneurship
Oxford University Press, 2008
More number of people in a network results ina bigger range but can result in lesserintensity.
Bigger networks will be harder to control.A search for more people to add to the network
can lead to a relaxation of standards.
A larger network will lead to prominence of the
extroverts in the network
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Strengthening the Networks
Rajeev Roy, XIMB
Entrepreneurship
Oxford University Press, 2008
Adding New People Attend Conferences,
meets, Seminars, be a part of Netowrking
Lunches, Dineers, High Teas etc.
Removing People Stop Communicating
Organisations that enable you to Network:
CII, FICCI, ASSOCHAM, TiE, NEN, Other TradeBodies, Unions, Alumni Associations & meets
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Project the Right Image
Rajeev Roy, XIMB
Entrepreneurship
Oxford University Press, 2008
Your appearance should be professional
Do what you have promised to do
Be prompt in returning calls and replying to
emails.
Refrain from talking bad about people
Dont reveal your flaws
Dont complain or make excuses for yourfailures
Remember to do this all the time.
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Other Networks
Rajeev Roy, XIMB
Entrepreneurship
Oxford University Press, 2008
Tap into other peoples networks:
People you know but choose not to network
with
People you know but have not got around to
having a networking relationship with.
People you dont know
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Aproachability
Rajeev Roy, XIMB
Entrepreneurship
Oxford University Press, 2008
Approachability will conflict with our busy lives
and will interrupt our activities.
Lack of approachability will signal the end of
meaningful networking.
Being curt or less helpful when our contact
catches us at a busy time sends a negative
signal.
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Infrastructure for Networking
Rajeev Roy, XIMB
Entrepreneurship
Oxford University Press, 2008
Address
Phone (land line)
Email
Mobile phone
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Benefits of a Network
Rajeev Roy, XIMB
Entrepreneurship
Oxford University Press, 2008
A stable source of accurate information
A source of sound advice
A network will help spread good word of mouth
During times of crisis, contacts can be relied
upon to lend a helping hand
A network leads to introductions to members of
other network
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Best Practices
Rajeev Roy, XIMB
Entrepreneurship
Oxford University Press, 2008
Establish a relationship with people muchbefore you need them
Understand what you can do for others
Attend conferences, trade meets, socialevents, etc, and meet people
Dont talk too much when you meet people
Find common points of interest
Do not contradict others unless you can makea convincing case of it
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Best Practices
Rajeev Roy, XIMB
Entrepreneurship
Oxford University Press, 2008
It is good to come across as a well read
person with a broad range of interests
Remember to carry a lot of business cards
with you all the time
Keep using the network.
Ask for favours because people like to be of
help