How to become an entrepreneur through free business networking

By Michiel Van Kets

Quite a few people are dreaming of becoming an entrepreneur, but to take that first step is quite a challenge. The first thing you have to do is to come up with a good idea. This is probably one of the most challenging parts of becoming an entrepreneur, so the best thing to do and what is certainly going to help you is to always carry a notebook around in which you can write down things from everyday life that cause an inconvenience or anything that can be improved. Later, when looking back at your notebook it can often bring up patterns in why problems occur and how they can be solved. This will get your brain thinking exactly the way an entrepreneur’s should.

When you find an idea you like you need to do a lot of research to make sure that there is a gap in the market for your project and indeed that there is a real world need for your idea. The best way to do this is to search around the internet or pick up a paper business directory so you can check the competition out. You could also set up a very basic website and use Google Pay-Per click advertising to see how many people are searching for similar keywords to what you would use for your project. This would also let you know how strong the competition is. This is a very simple method of market research but you never know you may also get some enquiries from it!

One thing that makes entrepreneurial success easier is having a business partner who shares your business vision and has skills that complements your own, and which are necessary for your mission. Finding a one however, is usually not that simple. For example, if you have an idea to patent a new computer chip, then a business partner with connections in manufacturing, or skills in developing, would be a huge advantage. It is great if you know business people that can help you straight away, but most of us would not have these connections right from the start.

However, nowadays, especially because of the internet and free social networking sites such as Face book, MySpace and the newly released ThinkBowl, networking is much easier. Through avenues such as these one can search for business partners and join like-minded communities to find good corporate links. With free business networking websites like these you can also share your ideas and problems and receive feedback from the community, as well as blog about your projects, which is a great way to get both your idea, and yourself noticed (free advertising is great!)

Some basic procedures apply to all online networks and in particularly the business networks; for example to never expose too much about yourself to the general public (basic details are fine), but wait until trust is build up to eventually reveal more. The same goes for your business information. Make sure you only reveal the minimum unless your ideas are protected that is to say patents, copyrights, trademarks etc. Although every safety measure is taken by sites to weed out “scammers”, they cannot and will not guarantee for someone’s character to be protected, nor take accountability for ideas that are stolen etc.

When you look for a free business-networking website, make sure the one you select is relevant to yourself and therefore helpful to you (it is no good joining a network for B2B sales if you want to start your own garden centre!) Look for one with interesting site content, useful tools and a good-sized community (of course, a community with a hundred or so actual active entrepreneurs is a lot better than one with a hundred thousand dilly-dalliers!)

Networking websites work like real life communities. When you join one of them enjoy your activity and use it as an effective business tool. Remember, the users on the site most probably will have similar goals and will communally have a wide knowledge base, so do not be afraid to open up and discuss topics you think are important, ask for feedback or share opportunities. Again, it is important to remember to build up trust first.

When releasing your project or idea you should look for as many advertising sources as possible, e.g. internet, TV, paper, radio, flyers etc. If your budget is tight, you can usually contact local papers who will give you free advertising in the form of a one page story if your project is interesting enough. Remember to try and get a story in mind before contacting the journalist, if they don’t have to do too much work adapting the story they are more likely to use it.

When you have launched your project, keep reviewing it at regular basis and set realistic goals to reach at each of those points. All good projects evolve over time so do not just launch your project and think your job is done! Always be active and feed it, the money is not going to grow on your tree just because you planted it.

Finally write down things that went well and areas that can be improved on from your first project and keep them for future reference. Then get back to the drawing board and think up your next entrepreneur project!