Selling part of your company is a lot like seeing your child walk off to their first day of kindergarten and start a life without you. It’s an important moment, a time for reflection — and a little terrifying.
Finding and then attracting the right investor can feel impossible, especially if it’s your first time raising capital…
Leverage your network. To begin the process, you’ll want to look to the people closest to you. Your circle often turns out to be a lot larger than you think when you add in your alumni networks, colleagues, relatives, clients and social media connections. Look for people who are involved in investments or have started companies themselves. Start the process of reaching out to them for ideas. If you don’t already, start having regular lunches and coffees with old friends and colleagues.
A distinguishing characteristic of self-made millionaires is that they network everywhere. Most important, they do it all the time–at business conferences, at the health club, on the golf course or with the person sitting next to them on a plane. This fact alone should motivate you to place yourself in situations where you can meet new people.
– Ivan Misner via Facebook.com (Click here to view original post)
Trying to maximizing opportunities by networking? Make sure you’re not caught out by these three common mistakes.
Mistake #1: Being “too embarrassed” to ask for help.
If you need help from anyone, make sure you ask! The concept of networking relies on the exchange of favors. At some point in the future you’ll be the one in a position to help.
Mistake #2: Not keeping in touch.
Truly valuable networks are not built overnight – which means that as time passes it’s important that you take the time to ensure you maintain the relationships with your contacts. If you don’t all your initial work will have been in vain.
Mistake #3: Not thanking people.
As we mentioned in point 1, the concept of successful networking relies on asking for and returning favors. Thanking people in an appropriate way is an important part of this equation. If you’re gracious when someone helps you out, it will strengthen the link between you.
As you go about building your network, give yourself a head-start by making sure to avoid these mistakes!
We came across a fascinating whitepaper this morning. Professor Julia Hobsbawm’s work was published by consultancy firm Ernst & Young and discusses the importance of networking in the business world.
As the way we live and work undergoes such vast changes, are you prepared to adapt?
Seattle, WA – Seattle-based relationship mapping firm IntellectSpace today announced that this Fall it will begin the beta-testing phase of a powerful new addition to its portfolio of relationship mapping solutions. The product – called Hubmap – will be available as an extension to existing Prospect Visual users who have been selected as beta-testers.
More than ever, networking is critical to an individual’s success in business. A strong contact network, also known as a business development network, where one person from every profession is actively seeking business from and for one another, can help create a virtual Main Street for businesspeople. It provides an environment and a system for a 21st century approach to the traditional model of doing business.
“In a professional setting, people like to have relationships with those that can help their careers or businesses. Be that person. If you assert yourself, it will invariably help both your network and your reputation.”
Seattle, WA – This week, IntellectSpace announced that its global database will now include more relationship data from Europe, the Middle East, and African countries. The database – already the largest existing one of its kind – is the basis for several IntellectSpace products, including its flagship relationship mapping platform Prospect Visual.
Recently, Swiss-based TE Connectivity announced that they had finalized an agreement to acquire Measurement Specialties for approximated $1.7 billion. In this post we’ll take a look at the two companies and the relationships that allowed the acquisition to happen.
TE Connectivity, Ltd. designs and manufactures components and products for across several industries including automotive, data communication systems, consumer electronics, telecommunications, defense, medical etc.
The acquisition of Measurement Specialties, a global designer and manufacturer of sensors and sensor-based systems is, according to TE Connectivity CEO, Tom Lynch, “a key part of our strategy to be a leader in the very attractive, high-growth sensor industry and adds nearly $40 billion to our addressable market.”
In a Press Release on June 18th, the company shared the strategic rationale behind the acquisition which includes using the combination of TE’s sensor business with Measurement Specialties’ leading range of sensors and sensor systems to establish a leadership position for TE in the otherwise segmented sensor market.
The Role of Relationships
For an acquisition such as this, an organization’s relationship capital can often play a crucial role. When companies are in the process of planning a merger or an acquisition, connections between key people can be pivotal when it comes to bringing the deal to the table and getting it closed.
Who made this deal happen?
An image taken from a Prospect Visual relationship report gives us a snapshot of some of the mutual connections between the TE Connectivity Board and Measurement Specialties Inc.
This Path Flow map gives us some insight into who may have helped the deal reach its successful conclusion.
Find out more
Click here to read the original Press Release.