The Globe and Mail: Sean Wise

The Globe and Mail: Sean Wise: "

Networking as a factor of commercial evolution

Only those startups with the skills to find the necessary elements of life will flourish. Just as a baby bird must forage for food or die of starvation, a startup company must likewise forage for key resources (capital, human talent and client traction), while still in its infancy. Failure to obtain these necessary elements of business is likewise seen by the capital markets as a sign that the entity does not have what it takes to grow into a dominant force in its ecosystem.

But how does a startup company with little or no capital gather the resources it needs to grow? The answer: Networking.

In the business world, an entrepreneur's ability to network can often determine whether the venture succeeds or starves to death. Often times, entrepreneurs do not realize the power that a strong professional network offers. Never are these skills more needed than when you simply cannot afford the necessary elements of life. During this 'bootstrapping' phase, you have no choice but to forage or network for them.

But how does one network effectively? What are the rules to networking? How can you get what you need when you simply cannot afford it? When it comes to networking there are many rules, but here are the four that I have found most effective:"