Business Networking Groups: Do They Really Work?

Business Networking Groups! Do they work, or not?

Way back in 2009 I posted a blog called 21 Business Networking Tips. 

Yes, I have been around that long and most of the tips are still applicable. 

Even my statement on using Facebook back then was advisable.

Now I am asked if Business Networking Groups work?

My answer is..sometimes.   

There are many business networking groups that do serve the people who attend every meeting and there are groups who will never serve anyone because…well…they suck.

What Makes for a Good Business Networking Group

What makes for a good Business networking groups are when:

1. You meet dozens of outstanding business people,
2. You connect afterward with a large number of them for one-on-ones
3. All the business people you meet immediately become a client or connect you to someone who within the week becomes a client.  

Of course, that is how you and the organizers of the business networking function expect the business network to work. 

The fact is this only happens about 1% of the time..so if all this has happened to you, consider yourself VERY lucky.

However, the fact that you made a profitable business connection had nothing to do with luck. 

The factors that caused the business networking group to work for you had to do with:

1. Where the function was held.  Could attendees find the place; was there parking next to the door and was the traffic to get there manageable?
2. Who was the host or hostess?  Was he or she at the door greeting the first attendee and made sure they felt welcome.
3. There was a handout given to you when you signed in telling you who was going to be in the room and what they did professionally?
4. Everyone in attendance took their business image seriously.  Dressed up their business attire instead of down to cargo pants and flip flops. Had their business cards and did not flip off the lack of having business cards as being “all Digital”.
5. Where the people you met who attended a few of the previous functions were helpful in pointing you to people who would be worth your meeting?
6. The host or hostess taking a moment to call the function to order, greet everyone and tell them what the agenda was going to be for the function and did not REQUIRE everyone to do their elevator speech.
7. The function being held in a quiet private room that had an open atmosphere so talking at a normal level voice could be heard.
8. Offering all types of refreshments.
9. Did the Host or hostess have a closing statement that told all who attended when the next event was going to be held?

All of the above are traits of a well run and well-organized business networking function.

What Makes for a Bad Business Networking Group

The functions that are a fail and end up as a waste of time and effort are where:

1. The location for the function not in a convenient part of the business community. Attendees could not easily find the location. Parking is not available or is located in a remote location. Traffic to get to the event was unbearable.
2. The host or hostess was not available to greet attendees or was late to their own event.
3. There were no handouts provided on who was attending so attendees were to fend for themselves to find the people they want to meet.
4. Most attendees dressed down to a less than business casual attire and did not take their professional image seriously. 
5. Over 90% of the business people attending the function have no business cards or had cards printed that were more for their design than their function of telling the person their name and title.
6. The people you meet who had been to several previous meetings were there for themselves and not interested in helping you find others they knew who would be of interest to meet.
7. The host or hostess opened the meeting requiring everyone in the room to do their 30-second elevator speech which usually took up most of the time for the event.  
8. The function was held in a tight public space with low ceilings or in a warehouse-type shared office space where the noise level is amplified by the hard surfaces.
9. The Evening event did NOT offer Alcohol beverages.  Offering no alcoholic beverages gives the function a VERY sterile atmosphere that will quickly divide the room or push those who enjoy (and can manage) adult beverages to leave early (if not immediately. Even alcoholics are uncomfortable being in a space where they targeted as to why to function not offered alcoholic beverages.  The function will quickly turn its focus who is drinking and who is not…no Business will be talked.

Other Questionable Types of Business Networking Groups

Only One Industry Per Membership

Then you have the functions that only allow someone from one industry to become a member.  These groups run about a 50-50 success rate. 

The ones that succeed usually have strong leadership and very defined segments of each industry in their market.  

The business networks that fail have a very broad definition of the industry they allow in the group.  Meaning that if the industry is Marketing there can only be one member in the group who covers all marketing when they actually only do print marketing and do not do video marketing. 

This puts the group at a huge disadvantage when it comes time to refer business to the person in the marketing industry that does not cover all marketing needs.

Premium Business Networking Groups

Paying to be a member of a business networking group is not a negative against the group.  Actually, depending on the amount for a membership fee, premium networking groups generally are able to maintain a higher quality of venue to hold their weekly or monthly functions.

What is negative for premium groups is when a business that pays for membership is never offered business referrals due to there being too many other members who are in the same industry.  Not obtaining enough business to justify the cost of the membership is usually what causes the premium group to fail.

Business Networking Groups Need to Evolve

With the onslaught of video and live streaming, business networking groups are going to have to evolve.  

LIVE Streaming a business networking group would be a smart direction to take the networking.  Streaming video would open up the networking to larger markets and to more tech-savvy businesses who have larger operating budgets.

Where business networking will go in the future will obviously turn back to its roots in doing one-on-one face-to-face meetings. 

This means..playing business golf could come back as a perfect way to make the time spent learning more about how you can help more profitable.

Let me know how I can help.