Starting a business, whether it’s based on technology, a new marketing concept or a product is always exciting. Once you have gone past the initial stage of developing your idea and clarifying what your business is going to be, you will have many business meetings.
The question is – How Can You Have The Most Productive Meetings?
There are 4 main categories of business meetings that occur when building a company. Focusing On The Specific Objectives For Each Type Of Meeting is key to getting the desired results.
Do You Prepare Differently For Each Type Of Meeting? Actually, not necessarily! There are basic steps to take when preparing for every meeting – Knowing The Objective is always the first step.
In The Entrepreneurial Stage There Are Four Distinct Categories Of Business Meetings. When you know what type of meeting you are going to – you can make the most out of it.
Idea Validation and Development
Depending on the complexity of the idea, most entrepreneurs will do some sort of research that will include meeting with people who are either in the field, potential customers, partners etc. The main objective of the meeting is to validate the idea and/or to get ideas on how to develop the solution/product or the business.
Develop Partnerships
‘Partners’, in the broadest sense, means anyone who can help you advance your business. These may be people whom you will have to pay, or they may be people/companies who will benefit from the partnership to develop their own business. Business partnerships always involve a business advantage to both sides of the partnership.
Fund Raising
You need money to run a business. Even if you are self-funding, you will most likely have a fund-raising meeting with your bank. One of the key tips for entrepreneurs when conducting fund raising meetings is to be focused on the objective –Getting The Investor To Trust You And Your Vision. Focus less on the details of how your idea works unless specifically asked.
Customer Development
Customers should be the core of your business – without them, you may have a great idea, but it’s not a business. Irrespective of the complexity of your business, the clearer you are on your specific objective for each customer meeting – the more results you will see.
Important! You may be meeting the same people for different types of meetings and you may have to change your objective if you see you aren’t going to get your initial objective. Focus on main objective and be flexible!
Published in Brooks - Keret Newsletter
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