Networking is an entrepreneur's most critical skill, from sourcing talent to discovering new avenues of innovation and financial resources, writes Covve CEO Yiannis Gavrielides

They say that the journey of an entrepreneur is a lonely one. It definitely shouldn’t be! Formal and informal relationships influence our decision-making as entrepreneurs. Our professional relationships and friendships are valuable sources of information and improve our connectivity to the world around us.

Researching and implementing strategies, navigating inboxes, and facilitating the growth of a business take up most of our time.

Outside of admin tasks, emails, and putting in the time for actual work, entrepreneurs, and founders need to make time to get out to meet new people and nurture their connections into long lasting relationships.

We suggest the following tools and tactics to optimise your time when networking.

Be selective

In Association with

Building strong relationships is about finding like-minded people, who align with your professional and personal objectives. Networking works best when the people in your network push you in the direction you intend to move. Spreading yourself thin by trying to increase the volume of connections in your network is draining, and oftentimes derails focus.

The proverb that ‘birds of a feather flock together’ is not a new approach but is often forgotten. Attend events within your industry, or ask for referrals from clients with whom you have good relations.

Create windows of opportunity to connect with others to share your ideas, ask for guidance, and offer your expertise. These are elements of building trust and nurturing a quality network.

Explore the unknown

Step out of your inner circle and challenge yourself to discover new opportunities. You’re always going to be ‘right’ when doing the same things, and being around the same people. It gets easy, and comfortable. Growth happens outside of your comfort zone.

Studies show that 97% of businesses access new opportunities through networking. If established businesses find success in this practice, then it’s a good sign that founders and entrepreneurs can use networking as a tool to explore unknown possibilities.

John Dore of LSE shares a strategy to develop new networks. In summary, Dore suggests assessing your network and identifying your accessible contacts. Reach out to them, even if it has been years since your last interaction. Rewarming your relationships requires you to listen, and make your contact feel valued.

Create a habit of reaching out to your accessible contacts, so that your relationships with them feel relevant and organic. This way, they will feel comfortable introducing you to people in their network.

Tools of the trade

Keeping information on your contacts is a must in maintaining meaningful and lasting relationships. Storing that information on an Excel sheet is outdated, and messy. LinkedIn is a great tool to find people and present yourself online, but it doesn’t help you manage and nurture your relationships.

Personal CRMs are the epitome of networking tools. They keep your network structured, create reminders to follow-up and stay connected, as well as enable you to make notes on your interactions with individual contacts.

Doug Lester, a renowned career strategist and executive coach, gave a masterclass on how to maintain and grow your network through a personal CRM. He discusses how he is able to keep conversations fresh, even with contacts he hasn’t spoken with in a long time.

The ability to recall personal information and maintain relationships is a skill that is nurtured with the right networking tools.

The networking hustle

Standing out among professionals is a challenge founders encounter. It could be at an event, where small talk runs rampant, and the spark of connection in conversation is sometimes lacking.

When networking online, leverage your social media and explore personal blogs and websites. It isn’t about promoting your resume, but about showing and telling people who you are, and what you’re about.

Exploring professionals’ personal blogs and websites can give you a better understanding of their personal brand, and what they believe in.

Networking opportunities abound

Opportunities to connect with people are everywhere, not just at events, or on social media platforms. Professionals have been connecting at the golf course for years, and discourse at the gym is common practice.

Networking can become a natural, purposeful, and exciting aspect of our lives that we can turn into a habit. It doesn’t have to feel overwhelming, or emotionally taxing. It is part of our genetic makeup, as humans, to seek out individuals who help us achieve our goals and desires.

• Yiannis Gavrielides is the co-founder and CEO of Covve, helping professionals grow and nurture their contact network. He actively supports entrepreneurship as a partner at Invelopment Partners.