The Power of your Social Network

Let me tell you a story with five examples. I hope it helps you realize the power of your network:

1. Leaving My Job

In spring 2006, a litle after the acquisition of the startup I had poured my heart and soul into was acquired, I decided to resign from a high paying job in the pursuit of a dream. I hadn’t quite made enough to just coast and with a mortgage a self employed wife and three girls, there was certainly fear. Before I quit, three people threw me a rope … two for great consulting gigs and another offered me a role as an Entrepreneur In Residence at a VC … to pursue some startup ideas.  I took the plunge.

What would it take for you to quit your job in the next six months to pursue your dream?

2. Launching a startup

You have to be crazy to do it … and you can’t do it alone. Which means you have to find other crazy people that share the dream. Through the VC and my personal network, we were able to bring a great team together, including advisors who opened doors we had no access to. We even got a well know law firm to take us on and set up the company, stock plan and everything ….. for no money. The team has morphed over time but each and every contributor along the way was crucial.

People will do a tremendous amount of work for no pay. Believe in common passion and dream, issue some stock and dole it out carefully, keep the team tight and you will move the yardsticks farther than you think.

Do you have the guts? The desire? The "I have no choice but to do it or I’ll be miserable forever" attitude? If so, you should do it but don’t do it alone!

3. The First Customer

Ok, well the first customer screwed us over. The bigger they are, the harder they screw you. The second customer was magic. A friend brought me to the launch of a new radio station and the whose who of the business community was going to be there. He knew I would appreciate it and possibly capitalize on it. After chatting with Richard Branson at the event (yes I can prove it) he introduced me to the head of a major festival and I pitched him on the spot. Three weeks later, we had a deal and we redirected the entire company into a new space …. which turns out to be very fertile and fun.

Do you have fiends that would do that for you? You probably do … don’t be afraid to ask.

Could you create such an opportunity for someone else? I bet you can.

4. Another Customer

I remembered a chanced discussion over beers at Podcamp Montreal last year and followed up with the individual about a year later. It turns out she was connected with a key person and she stuck her neck out to introduce me. It turns out the individual was incredible, very well connected and he actually pitched us to the board of directors of a major company (he’s on the board). Can you believe that? The led to a major deal for us and possibly more. Talk about luck! Or was it?

I hope you’re starting to get the picture. As you debate your marketing plan and list of features, business model and the other such things many of us do, don’t forget that business is ultimately about people, relationships and trust. Ask for help and give help freely. That is what is going to lead to success.

I’ve left # 5 for you to fill in (I have plenty more). Do you have an example to share where RELATIONSHIPS made a substantial impact on your busines?