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Networking Networking Presented by Soroosh Mohammad Ebrahim Fall 2014

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NetworkingNetworkingPresented by Soroosh Mohammad Ebrahim

Fall 2014

Definitions

• The seeking out and interacting with others in order to establish a relationship to achieve common goals.

• The active process of developing and managing productive relationships.

Definitions

• Networks have also been defined as a set of nodes of persons and organizations, ‘linked by a set of social relationships…, and an orientation towards mutual gain’ (Cooper, 2002).

Social Capital – A Definition

• “networks together with shared norms, values and understandings that facilitate co-operation within and among groups”

•“the personal contacts and social networks that generate shared understandings, trust and reciprocity within and between social groups”

Nature of Social Capital

• Bonding - refers to those ties between those people in similar situations like family, close friends and neighbours;

• Bridging - describes weak or new ties to like persons;

• Linking refers to ties to people in dissimilar situations- weak ties

Social Capital Critical to Business

• Successful entrepreneurship is about managing relationships with a range of stakeholders

• Knowing who are the critical stakeholders in your network and why

• What are these relationships & how are they maintained

• Business Networking a critical vehicle for building social capital in order to support new ideas

Networking -SOME RELEVANT QUESTIONS

• WHAT do we mean by networking?

• WHY what are the benefits?

• WHO is in our network?

• WHAT are our specific goals in relation to networking?

Why Networking?

• Entrepreneurial marketing has been most frequently associated with marketing activities in companies that are small and resource constrained, and, therefore, must rely on creative marketing tactics that make heavy use of social networks (Morris, Schindehutte & LaForge, 2002).

WHO IS IN MY NETWORK?

Networking

A NETWORK includes all those people with whom you have a relationship and who can help you achieve your goals.

Your NETWORK will change according to what particular goal you wish to achieve.

In addition your NETWORK will change over time as the people come and go.

What is a Network?

1. Your PERSONAL NETWORK is everyone you know! This usually ranges from 40-400 people, including family, friends, colleagues, suppliers, professionals, influencers and clients.

2. Your ACCESSIBLE NETWORK is everyone they know -1,600 to 160,000 people! Somebody there knows how to connect you to someone else who can help you penetrate other networks of interest to you.

3. Your DEVELOPED NETWORK is everyone you could get to know. Just one more step reaches 64,000 to 64,000,000 people! In seven steps you can reach anyone in the world. You can also set out pro-actively to meet certain people.

Practical Networking

• Step 1: List your key network contacts by constructing a diagram as follows

You

• Step2:Consider your map …. Ask yourself:

‘Who could really help me to deliver the plan/get the job done?’

Networking

Successful NETWORKING requires a considerable input of time and effort. You may not get immediate rewards but over time you will succeed.

You must make a contribution to your NETWORK such as sharing information and ideas so that there is a mutual benefit.

The 3 P’s for creating a power network?

• Preparation: Be prepared with your one minute elevator pitch.

• Purpose: Know your purpose in building your power network.

• Presence: Attend events. You have to have a physical presence and interaction as well.

• From the Successful Networking Strategies article

Where does networking take place?

• Social Clubs and Organizations• Professional Associations• University and Company Alumni Networks• Trade Shows • Social Events

What Can You Use A Network For?

• to find clients and referral routes to clients• to help yourself by helping others

• to find allies and collaborators

• to source suppliers and people to do things for and with you• to obtain market and technical information

• to have fun• to raise your visibility

• to share knowledge and research• to compare notes and ideas

• to share human company, express feelings and receive reassurance

• to turn dreams into reality

Tips

• You Are Your Greatest Asset • Set a goal to meet five or more new people at each event. • Try one or two new groups per month. • Carry your business cards with you everywhere. • Don't make a beeline for your seat. • Don't sit by people you know. • Get active. • Be friendly and approachable.• Set a goal for what you expect from each meeting. • Be willing to give to receive. Networking is a two-way street. • Prepare for networking events in order to maximise your

opportunity

Networking in an Interorganizational Context

From Tight Hierarchies to Open NetworksFrom Tight Hierarchies to Open Networks

Components of a NetworkComponents of a Network

AssetsPeople Groups

OrganizationsObjects

LinksRelationshipsTransactions

Flows

When assets get connected in a network, they can become more valuable than the

sum of their parts.

Industry & Occupational Industry & Occupational NetworksNetworks

Network = Cluster Four phases of industry & occupational

network/cluster development:1. Articulation

2. Activation

3. Acceleration

4. Assessment

Entrepreneurship NetworksEntrepreneurship Networks

• Peer learning occurs

• Resources are shared

• New ventures are explored

• Pitfalls are avoided

• Needs are aggregated

Entrepreneurship Network Entrepreneurship Network Case StudyCase Study

ACEnet provides a wide range of assistance to food, wood, and technology entrepreneurs in 29 counties of Appalachian Ohio.

ACEnet: Scattered FragmentsACEnet: Scattered Fragments

Began weaving the network by asking questions:• From whom do you get new ideas that benefit

your work? • From whom do you access expertise that

improves your operations? • With whom do you collaborate?

Scattered Fragments NetworkScattered Fragments Network

Creating a Network HubCreating a Network Hub

Kitchen incubator became a hub for restaurateurs and farmers

Hub-&-Spokes Network EmergedHub-&-Spokes Network Emerged

Creating Multiple HubsCreating Multiple Hubs

• Farmers market

• Outdoor café• Restaurant

association

Multi-Hub NetworkMulti-Hub Network

Core & Periphery NetworkCore & Periphery Network

The Appalachian Ohio The Appalachian Ohio “Salsa” Cluster“Salsa” Cluster

• 20+ boutique salsa businesses in region

• $700K annual sales among new businesses

• 350 gallons and 445 lbs of fresh and preserved foods delivered to the region’s food pantries annually

• ACEnet serves over 200 existing and emerging entrepreneurs each year

Four Phases of Four Phases of Network DevelopmentNetwork Development

1. Scattered Fragments

2. Single Hub-and-Spoke

3. Multi-Hub

4. Core/Periphery

Civic Network ContinuumCivic Network Continuum

TurfTurf

TrustTrust

TIME

Sharing Information

Acknowledging Exploring Cooperating Collaborating Innovating

You have to walk before you run

Adapted from Collaboration Continuum from ACT for YouthAdapted from Collaboration Continuum from ACT for Youth

Final ReflectionsFinal Reflections

Takeaways from this module? What did you find most helpful? What did you find confusing? What do you hope to implement? Other items?

Any Questions?

Thanks for Paying

Attention!