How entrepreneurs outside the inner circle can pierce

They are connected to networks that have an influence and can accelerate progress in business and career. Research shows that these connections offer a competitive benefit ready for employment – access to venture capital, business leaders, teachers and former distinguished students, interior knowledge and invaluable resources.

But what about entrepreneurs outside this inner circle-those of under-represented history, minority communities or regions far from these traditional power centers? Without the proximity of these prestigious networks, they are left in competition in a distinct disadvantage.

How can we fill this gap between privilege and potential?

In question, here is a concept called centrality of the network. The more central entrepreneur is located in a network of influential contacts, the larger social access and other valuable resources. And, of course, vice versa, strengthening the disparity for those who are peripheral locations.

Our study on aspiring entrepreneurs highlights the centrality of the network – why it is important, how it works and what can be done to overcome it. Led by Lehigh @ Nasdaqcenter, in partnership with Reedley College in California, the primary objective of the study was to determine how aspiring entrepreneurs, regardless of university pedigree, household income and ethnic origin, can have an equal opportunity to launch companies – in short, to level the playground.

We interviewed 250 students from the community college and 250 private students, who all expressed an ambition to continue entrepreneurship. Our study, based on previous research, compared the differences in the way in which the two populations behaved with regard to networking, private students representing high centrality and students of the community college with low centrality.

Our best point to remember: the gaps that exist can be filled.

Here, therefore, on the basis of our results, are the three main lessons learned:

First, stimulate your networking efficiency, defined as your belief in your ability to achieve the desired results by networking. We have found that students in community colleges are more than four times more likely (39% against 8%) than those of private colleges to present a low self-efficacy. These students perceive that network opportunities are less at their disposal, which leads to lower confidence. But an increase in efforts can lead to an enormous 25% increase in share capital, indicates our previous study.

High networking auto-effectiveness can be developed. To start, think small. Network your friends, colleagues and others you already know. Taking advantage of familiar relationships and parameters with low pressure will strengthen your networking skills, get small successes and strengthen your confidence.

Second, choose the right passion. We have found that aspiring entrepreneurs of community colleges display almost four times more than four levels of “obsessive passion” – a frequent network constraint, emphasizing the quantity of contacts on quality, which can lead to superficial and short -lived relationships – that their counterparts in private colleges (26% against 7%). . Our study shows that obsessive passion reduces the chances of establishing lasting relationships thanks to the networking of 17%.

You better move to the “harmonious” passion, characterized by an understanding of the way in which the work fits into your life overall. It values ​​the quality of contacts on the quantity of networking.

How to exploit the harmonious passion? Ask what motivates you to network first. Plan the networking activities that balance your personal and professional activities. Evaluate if the new connections demonstrate consistency, reliability and commitment. Network for opportunities that represent the promise of longevity and return on investment.

Third, keep an eye on the future. Busy entrepreneurs of community colleges are more than three times more likely than their private counterparts (17% against 5%) to focus on this, according to our research. But an orientation to the future can increase your networking results by 12%.

For the future – as if to imagine your presence during future commercial events – can expose you to opportunities that widen your point of view. To practice the “temporal future” networking, create a calendar and ask yourself key questions. What actions should you take to extend your network? What professional organizations should you join, what industry events should you attend and what individuals in your field should you connect?

So, if, as our research suggests, you believe in your networking capacities, adopt the harmonious passion and you focus on the future, you are practically guaranteed to network as a champion.

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