Business Networking for Success and Company Growth: Part Two

Networking groups are run and operated by People. I know. Hard to believe and it’s true. And people differ as much as the patterns of a snowflake. Fortunately, I’ve been able to determine certain similarities in the way groups are run. So in this course, we’re going to break down the different formats for Networking Groups which will help you to identify which kinds of groups you’ll want to attend and how to maximize your participation within those groups.

As the name implies, open networking formats are open. Typically, you just show up, check-in or register, and then start networking. Often times there will be loud music and alcohol of some type. A business After Hours networking event fits right into this category.

The effectiveness of open networking formats are really up to you.

If you're good at working a room, then the open networking format just might be your thing. If you're shy, hesitant, or not very outgoing, the open networking format can be intimidating.

If it's a monthly networking group, you'll see clumps of people or cliques. These are people that attend the events every week and got to know each other. So now they all hang out and just catch up with each other. Sometimes the cliques are purely social and just a potential waste of your time. Other times, getting into a clique is how you can get some business done. Again, it all depends upon you and the clique.

The one thing I don't really like about these kinds of networking events are that they're usually held in a social location like a bar or night club and they're usually really loud. This means that instead of talking to people, you're yelling at them just to be heard. Then again, if you like a good party, this might just be up your alley.

I love these type of networking events. O.k. not really. This is where you show up to a networking event and the moderator of the group things they're all powerful. You do exactly what they say and when they say it or you can leave. The group is all about them and only them and you're just there because they said you could be there.

Well, o.k., maybe it's not that bad - sometimes.

Seriously though, at these networking events, you arrive, check-in and then the moderator starts speaking. They may allow introductions of members and guests, and then they speak some more.

Usually there's some kind of topic which the moderator discusses or there's a guest speaker which comes in and talks about it. Either way, you come, you go and you don't get to talk much or mix and mingle much.

Why should you attend an event like this? Because you want to hear more about the topic or more from the speaker. It's usually not really a networking event even though it could and probably should be. Most people that I've talked to that have attended these kinds of formats don't usually return to the group though.

At this kind of networking event, you usually get there, check-in, do a little informal networking, then sit down and listen to a speaker who will then attempt to sell you something at the end of the presentation.

What they sell you could have tremendous value to your business or just be a complete pile of cr@p. Unfortunately, it's difficult to tell sometimes until after you've bought the product.

The truth of the matter is that over half of the products out there are horrible and the speakers are only out to make a dime. This unfortunately gives a bad name to those speakers who actually want to provide value to people and deliver a good product.

The best thing you can do is to see if you can do your research on the speaker before you attend the event and see what kind of reviews they have.

Keep in mind though that for every 1 person that complains, 10 - 20 people or more who have had great experiences said nothing. So if you see a bad review from one person on several different sites, then that just may be a disgruntled person for some reason and not truly represent a clear picture.

If on the other hand you see several complaints about the speaker from several different people on several different websites, then take note. There's a reason they received all those complaints.

These events are great if you're looking to learn a new skill or about a new technology, advancement, or strategy. Some people might call this a training event or a workshop versus a networking event though.

Here again, you'll typically show up, check-in and then listen to a speaker or trainer discussing a particular topic. Topics could range from business and technical to social and recreational. Either way, your expectation is to go and learn something, not really do a ton of networking and socializing.

If there is networking or socializing, it's typically done before and/or after the event in an informal manner.

As with most things, there are pros and cons to this type of group. It really just depends upon what you’re looking for at a networking event.

Mastermind groups are small networking groups - typically 6 - 8 people who get together and discuss what they're working on, the challenges they're having, and get feedback from the other members.

Everyone usually gets about 10 minutes to talk about everything before you move on to the next person. In addition, meetings usually occur every week or every other week.

This kind of event is absolutely planned out and can be extremely powerful when done properly. When not run properly, it could be a colossal waste of time. It’s important to find one where all the participants are playing full out and want to make something happen.

Some mastermind groups are free while some require an investment of thousands of dollars. Many of them have some kind of qualifications and most of them are by invitation only.

Speed networking is an experience that everyone should do at least once! Similar to speed dating, speed networking is where you get 2 - 4 minutes with someone to discuss your business or life. Half of the time you talk about yourself; the other half, the other person gets to talk.

For example, if you had 4 minutes, you'd talk about yourself for 2 minutes and then when the moderator yells, "SWITCH!" the other person talks about themselves. After 4 minutes, the moderator will yell, "NEXT PERSON!" and you move on down the line to talk to the next person using the same format - 2 minutes for you, 2 minutes for them.

Speed networking is a great way of getting a lot of business cards and if you're good at identifying connections which may result in further synergies, it's a good way of initiating a conversation.

Unfortunately, it's not really enough time to get to know someone.

The Oscar type networking events are typically some kind of formal awards ceremony followed by a big party and drinks! While it doesn't have to be an awards ceremony, there is usually some kind of presentation or show.

These kinds of events typically tend to be annual type events or industry specific events. Many community service groups have these kinds of events as do professional associations. It's a great way to recognize those individuals who have contributed something or achieved something within their industry or group while having fun and meeting new people.

The only drawback of attending an event like this is that the show or awards portion may drag on and on and on and on. See if you can find an agenda before you attend and hope that they stick to the agenda.

Billion dollar deals have been made on the golf course. There's something to be said about a bunch of people hanging out in an informal atmosphere talking about stuff. Some networking events are just that though - hanging out somewhere getting to know other people.

I run a networking group where we meet every Wednesday for lunch somewhere at a different restaurant. I’ve been hosting it for over 10 years now and have met some great people there as well as picked up a client or two. We typically have between 4 - 6 people at these networking lunches and we just sit, eat, and talk in order to get to know one another. It's a great way to get to know people in an informal manner. We also answer burning questions and have a topic of the week. Remember, people like to do business with people they know, like, and trust.

This is obviously fairly straight forward. For every set format there is, there's always a mix of different formats. The only way to find out how a group is run is really to attend it and experience it for yourself. You may like some and you some you won't. Just go and find out.

Remember, 80% of success is showing up.

What’s your ideal group format? If you had to run a networking group on a regular basis – say monthly, how would you run it? Write down what you think the ideal networking group format would be and how you would run it. Now see if you can find a group that matches your description.

How to use social networks to find your ideal clients and partners.

Chaffee organizes three Meetup groups. He talks about how he grows his groups.