In
business
Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit."
Having a business name does not sepa ...
, entrepreneurial networks are
social organization
In sociology, a social organization is a pattern of relationships between and among individuals and social groups.
Characteristics of social organization can include qualities such as sexual composition, spatiotemporal cohesion, leadership, s ...
s offering different types of
resources
Resource refers to all the materials available in our environment which are technologically accessible, economically feasible and culturally sustainable and help us to satisfy our needs and wants. Resources can broadly be classified upon their ...
to start or improve
entrepreneurial
Entrepreneurship is the creation or extraction of economic value. With this definition, entrepreneurship is viewed as change, generally entailing risk beyond what is normally encountered in starting a business, which may include other values th ...
projects. Having adequate
human resources
Human resources (HR) is the set of people who make up the workforce of an organization, business sector, industry, or economy. A narrower concept is human capital, the knowledge and skills which the individuals command. Similar terms includ ...
is a key factor for entrepreneurial achievements. Combined with
leadership
Leadership, both as a research area and as a practical skill, encompasses the ability of an individual, group or organization to "lead", influence or guide other individuals, teams, or entire organizations. The word "leadership" often gets vi ...
, the entrepreneurial network is a social network not only necessary to properly run the business or project, but also to differentiate the business from similar projects.
Purpose
The goal of most entrepreneurial networks is to bring together a broad selection of professionals and resources that complement each other's endeavors. Initially, a priority is to aid successful
business launches. Subsequently, to provide motivation, direction and increase access to
opportunities and other skill sets. Promotion of each member's talents and services both within the network and out in the broader market increases opportunities for all participants.
One of the key needs of any startup is
capital
Capital may refer to:
Common uses
* Capital city, a municipality of primary status
** List of national capital cities
* Capital letter, an upper-case letter Economics and social sciences
* Capital (economics), the durable produced goods used fo ...
, and often entrepreneurial networks focus on providing such financial resources, particularly tailored to their membership
demographic
Demography () is the statistical study of populations, especially human beings.
Demographic analysis examines and measures the dimensions and dynamics of populations; it can cover whole societies or groups defined by criteria such as ed ...
.
Entrepreneurial networks may also become community involved,
endorsing reforms,
legislation
Legislation is the process or result of enrolling, enacting, or promulgating laws by a legislature, parliament, or analogous governing body. Before an item of legislation becomes law it may be known as a bill, and may be broadly referred to ...
or other municipal drives that accommodate their organization's goals.
Membership composition
*lawyers, various specialties
*scientists
*engineers
*
architect
An architect is a person who plans, designs and oversees the construction of buildings. To practice architecture means to provide services in connection with the design of buildings and the space within the site surrounding the buildings that h ...
s
*contractors/construction
managers
*
real estate
Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more genera ...
professionals
*suppliers
*government people or institutions
*partners
*high skilled employees
*clients or any other kind of social contacts that can make the entrepreneurial business (or project) successful
*
mentors
*
investors
See also
*
Social network
A social network is a social structure made up of a set of social actors (such as individuals or organizations), sets of dyadic ties, and other social interactions between actors. The social network perspective provides a set of methods for an ...
*
Business network
A business network is a complex network of companies, working together to accomplish certain objectives. These objectives, which are strategic and operational, are adopted by business networks based on their role in the market. There are two categ ...
*
Business incubator
Business incubator is an organization that helps startup companies and individual entrepreneurs to develop their businesses by providing a fullscale range of services starting with management training and office space and ending with venture c ...
*
Chambers of Commerce
A chamber of commerce, or board of trade, is a form of business network. For example, a local organization of businesses whose goal is to further the interests of businesses. Business owners in towns and cities form these local societies to ...
*
Service Corps of Retired Executives
External links
* {{cite web, url=http://www.inc.com/encyclopedia/entrepreneurial-networks.html, title=trepreneurial Networks, publisher=Inc.com, quote=an association of entrepreneurs organized, formally or informally, with the object of increasing the effectiveness of the members' business activities
Business terms
*
Social networks
Community building