RETURN TO NETWORKING STRATEGIES

Professional Networking Groups:
Can They Help Grow Your Business?
By Terri Mrosko

One of the best and most cost-effective ways to grow your business or find new business is networking. I have written numerous articles on the subject, as well as spent many years networking in my corporate career. A recent networking encounter led to an invitation to attend and possibly join a professional networking group.

If you're not exactly sure what I mean by a "professional" networking group, let me explain. This is a formal group meeting on a regular basis (usually weekly) for the sole purpose of exchanging referrals with other members of the group. There is a membership fee associated with joining, and from what I saw, it is usually quite steep. Annual costs I was quoted ranged from $200 to over $500 per year.

There are several national level groups of which I am aware including Network Professionals Inc. (NPI), Business Networking Intl. (BNI) and Cleveland-area groups like The Business Exchange and Cleveland networking.com. Turns out the very week I was invited to attend one, I received two more invites to two other groups.

Since I was in the middle of what I call my "networking blitz," I decided to accept the offers and attended three separate meetings in the span of two weeks. The concepts were all quite similar, with slightly different rules and regulations at each of the three meetings.

For the most part, I met some interesting, informative and helpful people at these groups. They were committed to their respective groups (a necessity because as a member, you are not supposed to miss too many meetings or you will be asked to leave). Some of the groups were a little more welcoming to a guest than were the others.

After one particular meeting, I left with several referrals, gave a couple of my own referrals and generally felt "energized" and ready to make some calls to make contact with potential clients. In almost every case, I followed up and in fact, even got some small assignments from one company. Some of the phone numbers I received were wrong numbers, and I admit, I did not go back to the originator of the referral to try and get another number.

While at first I thought this kind of group was exactly what I needed to grow my business, I decided to hold off making a decision to try and further evaluate and justify the necessity of my spending the money to join. I was told and as much "guaranteed" I would make back my annual dues in client work gained from referrals.

In between the time I made my final decision on whether or not to join, I spoke to others who either belonged to such groups or were previously associated with them. I heard both positive and negative opinions as I queried these folks and took it all in as I (yes) agonized over what to do.

So, did I end up joining one of these groups, you ask? The answer is no I did not. I made my decision based on my own personal evaluations and business needs at the time. My decision was not a reflection on the quality of these groups. The bottom line in my case is I feel I can make enough contacts on my own through some of the meaningful groups to which I already belong that did not warrant me spending such a large amount of money and time for the opportunity to give and get a referral.

I do believe the professional networking groups have their place, and I think many people can (and do) benefit from them. It just was not for me. I realized I could join two, three or even four other professional organizations that can help grow my career just as effectively.

Before you make an economic decision for your career or business, make sure you fully evaluate the situation before taking the leap. There was external pressure to join, to be sure, but I did not let pressure cloud my judgment or take any less time in my evaluation process. Especially when just starting out in your business or career, the cash flow may be tight and your time precious. Use both wisely.