Pro-Tip for Entrepreneurs: Networking is Key!

Guest post written by Holly McGowan, SCORE Dallas business mentor and workshop chair

Congratulations! You have an idea, and you are ready to launch a business (or you already have)! But when people build a business, there’s one crucial element that often gets overlooked: networking. Think of networking as your secret goldmine, waiting to be tapped. It’s not just about collecting business cards; it’s about building genuine connections with people who can make a real difference in your entrepreneurial journey.

Why is networking so valuable for new businesses? Let’s break it down:

1. Open Doors to New Opportunities

Through connections, you can:

• Discover potential clients and partners: Network with people in your industry and beyond. You never know who might be looking for exactly what you offer.
• Gain access to valuable resources: From industry experts to investors, your network can provide you with mentorship, guidance, and maybe even financial backing.
• Stay ahead of the curve: Networking keeps you updated on business trends, competitor activities, and emerging opportunities.

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2. Boost Your Credibility and Visibility

In the early stages, building brand awareness is crucial. Networking helps you:

• Establish yourself as an expert: By actively participating in events and discussions, you position yourself as a thought leader and build trust with potential customers.
• Get your brand out there: Word-of-mouth recommendations are still the most powerful marketing tool. Your network can spread the word about your business and amplify your reach.
• Build a positive reputation: Strong connections can vouch for your professionalism and reliability, making you a more attractive option for clients and collaborators.

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3. Foster Collaboration and Mentorship

The entrepreneurial journey can be lonely and challenging. Your network provides you with:

• A supportive community: Surround yourself with other entrepreneurs who understand your struggles and can offer encouragement and advice.
• Mentorship opportunities: Learn from seasoned professionals who have walked the path before you. Their guidance can be invaluable in navigating challenges and making strategic decisions.
• Collaboration potential: Partner up with other businesses to expand your reach, share resources, and tackle larger projects together.

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So, how do you start building your network as a new business owner? Here are some tips:

• Be present and active: Attend industry events, conferences, and workshops. Join online forums and communities related to your niche. If you’re not in the mood to go, go anyway!
• Focus on quality over quantity: Build genuine connections with people who share your values and interests. Don’t just collect business cards; nurture relationships.
• Offer value first: Don’t just focus on what you can get from your network. Be willing to help others, share your expertise, and offer support.
• Leverage social media: Build your online presence on platforms like LinkedIn and Twitter to connect with professionals in your field.
• Follow up and stay in touch: Regularly connect with your network members through emails, phone calls, or even coffee meetings.
• Remember, networking is a marathon, not a sprint. Give it time and effort, and you’ll gradually build a valuable network that can propel your business to success.

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Building a strong network takes time and dedication, but the return on investment is immeasurable. By actively engaging with your community, offering value, and fostering meaningful connections, you’ll unlock a wealth of opportunities and support that will fuel your business growth and propel you toward entrepreneurial success. So, get out there, start building those relationships, and watch your business flourish!

Remember, your network is your net worth. Invest in it and reap the rewards!

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Upcoming Events for Entrepreneurs

Networking Reception
Tuesday, January 23, 2024 from 6:30-8pm
Haggard Library
Register here

Plano Public Library and SCORE Dallas are hosting a networking reception on January 23 that you can attend for free.

• Make connections with other entrepreneurs and a variety of business-serving organizations.
• Learn about free SCORE business mentoring and workshops, monthly Team Up for Entrepreneurial Success meetings, services available from Plano Public Library
• Visit with funding sources about how to open doors for investments and loans.

Questions? Contact Kristin Linscott at klinscott@plano.gov

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SCORE Dallas Business Mentoring
Thursdays at Schimelpfenig Library
By appointment – 214-987-9491 or email Don Walter at don.walter@scorevolunteer.org

Connect with a SCORE Dallas Mentor to receive free small business advice. Highly successful and experienced business professionals and entrepreneurs serve as SCORE mentors, delivering valuable, timely and practical advice on every aspect of business. This is a free service for start-ups or existing businesses.

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Team Up for Entrepreneurial Success (TUES)
Tuesdays from 6:30-8pm at Haggard Library

Monthly meetings offer opportunities for networking, problem-solving, access to resources and coaching with SCORE Mentors, subject matter experts and Plano Library staff. Group discussion follows a brief business-focused presentation. Upcoming topics:

• February 27 – Intellectual Property, Copyright and More – Register here
• March 26 – Credit Card Processing – Register here
• April 23 – Financial Options – Register here

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Gale Entrepreneurship
Friday, February 16 at 3pm
Virtual – Register

Use the Gale database for research assistance in starting or growing your business. Sort information needs for business planning, starting, funding or management. A recording will be available on the library’s YouTube channel.

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Roadmap to Business Startup Success
Thursday, February 29 at 6:30pm
Davis Library and Virtual – Register

Don Walter, SCORE mentor, reviews the steps that need to be followed to successfully launch a business – from the genesis of the idea through the legal aspects, competition research, financing, marketing and launch.

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Create Your Elevator Speech
Tuesday, March 19 at 6:30pm
Haggard Library

Communicate who you are, your idea or how you can benefit a company or organization in a way such that any listener can understand it in a short period. Learn how to design your speech to get a positive response. Presented by Andrella Thomas with Capital One.

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Digital Presence: Elevate your Brand Online with the IT Factor
Tuesday, April 2 from 6:30-8pm
Parr Library

Enhance your brand’s digital presence and establish a solid foundation to drive success in the online world. Explore the core elements that power a strong online identity and gain valuable insights into the foundational principles that contribute to business growth. Established businesses and start-ups welcome. Presented by SCORE Dallas mentor, Nicole Wallace.