The Perils of the Bubble
Head down, fingers on keyboards, fire fighting – all things that entrepreneurs deal with and focus on, day in and day out. Getting actual work completed and things done is a fundamental tenet of business building and organization expansion. But what happened to the importance of networking?!
The problem with keeping your head down is that it’s a challenge to turn your head up. Do you understand the importance of networking? Develop and maintain an intimate knowledge of what is happening in your industry. This requires the scarcest resource available to an owner or entrepreneur or business leader – time.
It’s really easy to blow off that networking event in order to get something done. If you’re not careful, you will become so insulated that your competitive dynamic will shift and that will be perilous for your business. There will be a new competitor right next door, and if your focus is overly internal, beware.
Popping the Bubble simply means to get out of your comfort zone
There are things that you will do to effect a healthy balance between the imperative to ‘get stuff done’ and ensure that your knowledge of your competitive universe is current.
Just get out there: Networking Events
You’re tired of hearing about the importance of ‘getting out there,’ but there is really no substitute for these interactions. Be more judicious, of course. But topic-centric events will keep you apprised of external trends that will impact your business. Connect with the Pittsburgh Technology Council for monthly events that could spark new conversations.
Meet-up Groups can simply mean meeting over coffee
While a meetup group tends to be very domain oriented this is a great way to keep abreast of the most current happenings. So, get out of the office and share insights, and position yourself as an authority in your industry.
Build an Advisory Board sooner rather than later
This is often an underutilized resource that is available to business owners and entrepreneurs. At every stage of your business, you will have ‘gaps.’ These are areas where your knowledge and the collective knowledge of your business are lacking. This becomes very apparent as you are growing when what you’ve done in the past becomes less relevant as your business is growing. A three- to a five-member advisory board will plug organizational holes and help you stay on top of your industry.
There are never too many Digital Subscriptions
No one wants more emails. But, daily/weekly updates about who is getting funding, for instance, will help you stay on top of new competitors and where investment monies are flowing.
Lastly, share what you learn with your team, your board, and your investors. Communicating often. This will instill a continual learning mentality in your organization. And, encourages everyone to keep their periscopes up for external happenings.
Continue to read our blog and stay connect to Black Ice Strategies for insights that could help you with your business.