Evaluating Live Networking Opportunities
Ask any small business owner how they found most of their clients, and there’s a really good chance they will say it was through networking. This is especially true if you offer services, where people often want to get to know you before they will be comfortable doing business with you and/or recommending you to others.
If you live in a small town, your networking options may be limited unless you are willing to travel to a larger community, but if you live in a city, there are probably more networking events than you could ever fit into your schedule. In either case (or anywhere in between), you will want to make sure you are getting the most for your time and your networking budget. Here are a few things to consider when deciding which networking events to attend and groups to join.
How many times can you attend as a guest?
Most groups will allow you to attend at least once or twice before you must become a member. Take advantage of this to explore different groups and determine which ones are the best fit for your business.
Is it restricted to one member per business category?
Many networking groups are set up this way, so that there is no competition between members. This can be a great benefit, because ideally the other members will only do business with or refer business to you rather than a competitor from outside the group, and for many people, these groups become like an extended sales force. Others find this type of format too restricting, as they feel pressured to abandon the relationships they’ve already established in order to make referrals to other group members. Still others join these groups only to find that although they are giving lots of leads, they aren’t receiving any in return.
What is the timing and frequency of the meetings?
Most groups meet once a month, but some meet every two weeks or even every week. In order to form stronger relationships with other members, you’ll want to attend regularly, especially if your membership fee covers meeting costs. If you’re unable to attend every meeting, it may still be worthwhile to become a member, as long as there are other benefits associated with your membership fee, such as a website profile or supplier discounts. In the case of some referral networking groups, you are expected to attend every meeting, and if you’re not available, you need to send someone to represent you.
How much does it cost?
Membership fees range from no cost to several hundreds of dollars per year. Typically you’ll find that people who join the more expensive groups have more money to spend and are therefore more likely to be able to afford your services than some of the new business owners you will often meet at the lower priced events – but that is not necessarily true. When deciding whether a group is worth the membership fee, be sure to consider all the benefits that are included and how useful those benefits are likely to be to you and your business. For example, a membership fee that includes monthly seminars which don’t interest you or fit into your schedule may not be a wise choice for you.
You’ll also want to factor in the cost of participating in the networking events when comparing groups. Some organizations may have a relatively high membership fee, but include free attendance at events, whereas others may have a lower membership fee or even no fee to join, but charge a high price at the door.
How many people attend the events?
The more people there are, the more likely there is going to be someone you will want to connect with. This is not to say that the larger the crowd, the more beneficial the event. If you are introverted or shy, you may find a large networking event to be overwhelming and end up not talking to anyone. In fact, the fewer the people, the better chance you have of getting to know all of them.
What is the format of the events?
Does each person get a chance to do a 30- or 60-second introduction? If you’re not a good mingler, this may be the only chance you have to get your message out and to find out what other people do.
Is there a presentation? If so, does the topic interest you? Is it an outside speaker, or do all members get a chance to speak at different meetings?
Is there a meal? Will the food that is served be suitable for your dietary needs? Some people find that sitting down to eat with people helps them to relax and interact more effectively. Others feel that they would rather spend all their time networking and not eating.
I have to say, when I sat down to write this I didn’t realize the list would be so long – no wonder I often have difficulty deciding which events I will attend! There are probably other factors to consider that I haven’t mentioned here – if you can think of some, please share them!
