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Building Relationships for Effective Networking

Luke Versweyveld
Founder
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Building Relationships for Effective Networking

On the latest episode of the Backseat Startup Podcast, we had Guillermo Fernandes on the show. Guillermo is the Founder of Blockpliance, a platform that allows users to easily understand source-of-funds for crypto addresses and quantify their transactional risk. A Reddit user was worried they committed a "Founder Faux Pas" by asking for investor introductions. Guillermo and I provided our thoughts.

The Power of Networking

Networking is a vital part of building and growing your professional or personal life, and it's all about building relationships. Whether it's through friends, family, or even social media, successful connections come from strong relationships. With the advances in technology, it's easier than ever to build global networks and meet people from all over the world.

But, for many people, the thought of starting a conversation with someone new can be intimidating and bring on feelings of social anxiety. This can increase if you're slow to hear back from people. If you don't get an immediate response, don't take it personally. Many people are busy, and your message may have simply been forgotten or lost track of.

Maximizing Success with Follow-up Strategies

When following up with someone, a rule of fives is recommended. Your initial contact plus four follow-ups maximizes the chances of being remembered and reduces the chance of reaching out at a bad time five separate times. Thoughtfully constructed messages can increase your success rate in getting responses. When following up, focus on specific advice or help rather than just reconnecting.

Networking with Investors: How to Ask for Introductions

Asking for introductions to investors is a normal part of the process. There's no need to apologize or feel awkward. If you don't receive a response, follow up politely and reschedule if necessary. Investors are busy, so it's important to be patient.

The Double Opt-In

If someone offers to make an introduction, they usually reach out to the person they're offering to introduce you to before getting back to you. This is called a double opt-in and it's important to be respectful when making introductions to investors. It's best practice to ask for permission before making the introduction.

Anxiety can be a factor when engaging in social interactions related to investments. If you don't hear back from the person offering to make the introduction, it's possible that the person they offered to introduce you to declined. Reach out again if necessary, as this is often part of the process and shouldn't feel weird.

Until Next Time

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Luke Versweyveld
Founder of Startup Founder Daily and Flintworks. Husband, lawyer, and vino ­čŹĚ