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Youve signed up to attend a conference or industry event, and when the day finally arrives, you probably experience some regret. Thoughts run through your head, such as Why do I have to go? I have too much work to do. I wont know anyone. I can make connections online. Sound familiar? Entering a room full of strangers or, worse yet, people in your field that you admire can make you feel like youre a kid again, walking into your first day of kindergarten. Its intimidating, but worth it because nothing replaces live connections, says Rebecca Grinnals, cofounder of the luxury wedding and event business conference Engage! Summits. You can’t put a price on the value of connecting with people meaningfully in personwe certainly saw that over the last five years, she says. Its a cliché, but your net worth is your network. In-person networking is more vital than it’s ever been in this age of AI and social media. While online connections are important and a good first step, theyre also limiting, says Kathryn Arce, Engage! Summits cofounder. You can miss out on the benefit of being connected to people, finding your group, and being inspired, she says. Everyone needs to be a part of something a little bit bigger. In-person events get you away from your office and computer. Theyre like fresh air for your soul. Your success will depend on attitude and planning. Here are five networking tips that will help put your nerves aside and open the door for meaningful connections with others: 1. Set An Intention Before the day arrives, decide what you want to get out of the event. In other words, dont come without a plan, says Grinnals. Some conferences will provide you with a list of attendees. Other times, there will be a Facebook page set up for the conference and you may be able to see the names of people in the group. If the event hasnt provided access to attendees, you can still review the speakers, workshop facilitators, and organizers. Then, identify three to five people you would like to meet and have a good conversation with over the course of the event. 2. Find a Warm Connection Once you have a list of people you hope to meet, research them on LinkedIn, social media, and news sites to see if you have anything in common that could serve as a way to connect. Maybe you both attended the same school. Or perhaps you share a friend or colleague. If you dont find a commonality, you can still use what you learn as a conversation starter. For example, if theyre from Philadelphia, you can ask how they felt about the Super Bowl. It helps to be more personal and genuine before you go into any type of business conversation, says Arce. 3. Be Genuine Theres a fine line between introducing yourself and promoting yourself and leading with an elevator pitch can be off-putting, says Grinnals. People often go to networking events with their chest puffed out, like a peacock, she says. They want to tell everybody, I’m a big deal in my market, or You should know me. That’s the wrong way to go about it. Nobody wants to feel sold to. Instead, be authentic and vulnerable. It’s better to come in and say, How’s business been? I’ve had a couple of challenges this year and don’t know if you’ve experienced it as well, says Grinnals. That immediately takes people a little off their guard and allows for a much more meaningful conversation and connection. You can also ask for advice. Instead of being another person trying to pitch their business, its refreshing and unexpected when someone says, I’m a big fan of your work. This is something I’m struggling with and wondered if you’ve got any advice? adds Grinnals. Everyone loves to be asked for advice. They don’t love to be asked for their business right off the bat. Offering help can also be a powerful way to connect. Sometimes people feel like, I’ve made an investment, and so I am just here to receive, says Grinnals. An easy icebreaker is, Is there anything I can help you with? Is there anybody I could introduce you to? The more you help other people achieve their goals, the more you’re going to feel good and have your goals achieved as well. 4. Be Open Its common to go into a conference focusing on what your return on investment needs to be, but this opens the door to leaving disappointed. Have a plan and a target list of connections but stay open to the organic meetings that can happen, too. People too often focus on the power players or the movers and shakers in an industry, hoping they will crack open a new opportunity or change you and your business forever, but thats not always true, says Grinnals. More often than not, it is the people that you least expect that you may be sitting next to on a shuttle ride or being seated next to in a session that actually turn out to be the most valuable people. Strike up conversations without expectation of what anyone can do for you, says Arce. There needs to be a nice balance of being open and letting things happen in the moment, she says. 5. Follow Up Its easy to leave a conference and move on with your life. However, intentional and thoughtful follow-up is the key to building your network. After the event, carve out time to reach out to interesting connections but be mindful of not spamming people. Take careful notes each day about who you met, says Grinnals. If you want to connect with the speaker, for example, you could send a follow up email specifically calling out something they said that was meaningful to you. If its someone you spoke with, recall a part of the conversation you remembered. Be specific, personal, and thoughtful, as opposed to just saying, It was great meeting you. Dont expect to go to one event and walk away with a lot of connections, answers, or business. Thats not the purpose, says Grinnals. The purpose is to start conversations with people and make initial connections, she says. Like anything in life, consistency is key. Plant the seeds and water them. Networking is a long game.
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E-Commerce
Just a couple of years ago, pundits were warning of streamings demise. From Netflix to Spotify, these companies were burning through cash. How could they keep operating? Now, almost all of the streamers have made it to positive profits. Netflix is the envy of the entertainment industry, while its underlings like Disney+ and Max have also turned around their losses. Last Tuesday, Spotify shares jumped 13% after the company announced its first full year of profitability. There are still stragglers, but on the whole, streaming has formed itself into a successful business model. Theres a lesson here: For emerging tech, theres value in patience. It took streaming over a decade to get it right, to effectively combine user growth and ad sales in a way that manifested profits. We should expect the same from all of our tech innovators. How streaming became profitable In the late 2010s, things werent looking positive for Netflix. Sure, they were making positive profits, but their debt was staggering. The company had amassed $15 billion in long-term debt by the end of 2020; compared to quarterly profits of just around $1 billion, Netflix seemed ready to capsize. CNNs headline at the time: Netflix is burning through cash. This cant last forever. Now, everyone wants to be Netflix. Their profit margin is now 22%, earning $8.71 billion last year in profits (from some $39 billion in revenue). Remarkably, the business is expanding. They added a record-breaking 19 million subscribers in the fourth quarter of 2024, mostly thanks to the live fight between Jake Paul and Mike Tyson. And their ad tier, which used to be a tiny subsidiary of their business, is now scaling rapidly. Its good to be in the business of Netflix. The smaller streamers, once the butt of Wall Streets jokes, are now reaching profitability. Max eked out its first positive profit of $103 million in 2023. Compare that to 2020, where WarnerMedia blamed their $1.2 billion in losses on investments in the streamer. Disneys streaming division, which compromises both Disney+ and Hulu, just reached their second straight quarter of profitability. In 2022, the division was losing the company over $3 billion. Now, Spotify has joined the club. For years, Spotify failed to put up positive profits. Their losses reached a peak in the second quarter of 2023, when Spotify lost about $256 million. The Wired headline from that year: Spotify is Screwed. Now, theyve reached a full year of positive profits. The virtue of patience with emerging tech The sheer scale of money lost made streamers an easy target. In 2020, when Netflix was saddled with some $15 billion in long-term debt, the company also had a marketcap of $238.89 billion. How could we so blindly trust a company that was burning through money? But these are long-term bets, and the bets eventually paid off. The same could be true for dozens of emerging tech fields of today. Look at AI. OpenAI, the golden child of the industry, lost $5 billion in 2024. And they keep taking on more money, most recently $6.6 billion in new investments and a $4 billion line of credit. How can we justify this? But AI companies (OpenAI chief among them) are betting on the future. AI might not be profitable now, but it will be. Its hard to trust OpenAI CEO Sam Altman when he makes these grand claims. But, if streaming is any indication, he could be right. The tech market demands patience; not just months of it, but years.
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E-Commerce
Its no surprise that artificial intelligence is transforming the way we learn, but it also has the potential to add a sprinkling of magic to on-the-job training. Turning the ordinary into the extraordinary is especially beneficial in the skilled trades. Were already seeing social media inspire the next generation of tradespeople, and AI-based learning programs can help attract, develop, and retain young talent. In the U.S., hiring for skilled roles, including electricians, industrial machinery workers, plumbers, and HVAC technicians, could be more than 20 times the projected annual increase in new jobs from 2022 to 2032. The current pipeline of skilled trades training cant keep up with the demand for workers, and a significant percentage of high school students interested in training programs find themselves on a waiting list. Employer investments in training and upskilling programs are critical in closing the labor gap. AI training requires a foundational knowledge We have already seen that AI is effective for advanced learning. It synthesizes information, translates it, and creates more personalized learning experiences. However, leveraging AIs power hinges on one critical ingredienta strong digital foundation. This is where many employers will fall short. They have traditionally relied on job shadowing, the occasional in-person classroom training, or limited online compliance training. Further, there is a common misconception that skilled workers will be able to learn in the field with an AI-enabled device as their primary means of information. These devices are useful for troubleshooting or serving as a quick reference tool, but they should only be used in conjunction with substantive foundational knowledge. The cognitive load while working makes it incredibly challenging to learn efficiently and effectively. Imagine being in a setting with safety risks, noise, and multiple distractions competing for your attention. At the same time, youre supposed to be taking in new information, acting on it, and retaining it. But, if that AI-supported in-the-field training was combined with a robust AI-driven digital foundational program, thats where the magic starts to happen. The most effective training takes place when employees have time to internalize the material, reflect on it, and review it. The need to pair AI with people A digital foundation that combines strategic assessments, core course material, bite-size learning, and digital simulations with real-world scenarios can provide the hands-on learning that is essential in the skilled trades. Whats more, all of this can be done in a safe, controlled environment. AI can communicate big ideas and take on the role of mentor, highlighting what is important, assessing skills, offering support, and providing insights into strengths and weaknesses. AI can serve as a personal learning guide, but it can’t provide emotional support and won’t replace people. Instead, great teachers will use AI along with digital learning to make their emotional interaction more useful. AI is advancing at a rapid pace, and many CEOs are asking themselves what their organization should be doing with AI and when to jump in. The answer is to jump in now. The consequences of not adopting digital learning will only get more severe the longer they wait. Learning is essential for every role and at every age, from the Gen Zers who are increasingly skipping college to existing employees requesting upskilling tailored to their specific needs. A digital foundation is the magicor missing ingredientthat lays the groundwork for CEOs to address labor shortages, reduce risk, and increase operational efficiency within their workforce. Doug Donovan is founder and CEO of Interplay Learning.
Category:
E-Commerce
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