Big decision to make regarding netorking

[markyyyyyy]

Hi all,

I am running a sports massage / deep tissue massage business alongside my full time job in a health club.

I went to a BNI netork meeting as a visitor to see how it all works, etc, and have a decision to make.

It will be approx £1100 investment for the whole year to join the networking group.

Do you think i ill get a return on that investment through joining the netorking group? I am 22 years old, and it is quite a big investment if i don't get many returns from it in terms of referrals.

I am extremely keen to join the BNI as it seems a valuable tool for a business, but ill it for mine?

Thanks for your help

 

[lockyer]

I doubt you will see a return, I'd spend that budget advertising on the back of appointment cards at your local doctors surgery.

 

[Lee Jones Jnr]

For what is a low cost service such as massage I would not spend £1100 and a lot of time on networking, that said I have never been to a networking event as I feel that the whole concept is generally populated by utility resellers and other 'schemes', all of whom will be ruling the world within a year or two.
If you get the impression that you will recoup the costs and make a profit from the exercise then why not?
I would look for ways to spend your marketing/advertising budget which will see more immediate results.

 

[Michael-Bush]

I would recommend joining 4Networking.biz - join the forum and your attend your local group. A much cheaper alternative and I would say is just as good.

 

[Geoff T]

Just one for the "pro BNI" strain - for a change! - have you worked out the following:

Average charge you make in your business? So how many referrals would you need to get to recoup the financial commitment? Did the chapter you say you are keen to join have any/many members that have synergy with you? Are there in other words members who you can see being able to provide regular referrals (so you would join what's called a "power group" in BNI)?

If the last one is a yes, then in my opinion it's especially worth a go - you're already inclined that way, and the benefits from BNI can be worthwhile (and not just in referrals!).

You'll get people who will disagree with this - you'll never get a 100% agreement on anything! - but if you're of a mind, and the questions above give reasonable answers, then I'd say it's worth a go...

HTH

 

[FreelanceSEO]

Another vote for 4networking. As a new member you'd be eligible for the 200 days for £200 deal. Leaving you £900 to spend elsewhere

Feel free to join us as well, as we'll be running some local tele-networking events soon !

Good luck

 

[Geoff T]

I would look for ways to spend your marketing/advertising budget which will see more immediate results.

To add to my previous, Lee raises a very valid - and important - point here...

Networking - when done properly - is about building relationships with the people around the table, and this is not done overnight - nor are the rewards from doing it...

If you need a quick return on the investment, then look elsewhere... if you want to build lasting relationships with a group of people who will bring you quality referrals on a regular basis - then networking is the way forward IMO... but be prepared to invest time as well as £1100 to see the best return...

 

[FreelanceSoftwareDeveloper]

HOW MUCH!!!

Wow, I went to my first networking event this week and it was completely free, including a very nice buffet, a motivational talk from Richard McCann and even a free signed copy of his book.

There are excellent facilities here that exist to support local businesses and therefore have funding to put on events like this without any cost the to business owners rather than some kind of networking company.

 

[Geoff T]

HOW MUCH!!!

Wow, I went to my first networking event this week and it was completely free, including a very nice buffet, a motivational talk from Richard McCann and even a free signed copy of his book.

There are excellent facilities here that exist to support local businesses and therefore have funding to put on events like this without any cost the to business owners rather than some kind of networking company.

Just wondering... How often do the free ones happen?

 

[wecandobiz]

There are other options to BNI. Take a look at BRX, NRG Networks and Refer-On as they may operate in your area.

Also look at online options like our website, not as a replacement but something you can do alongside (and every day without needing to buy five different shirts!).

 

[Geoff T]

...(and every day without needing to buy five different shirts!).

????????? please explain!

 

[FreelanceSoftwareDeveloper]

Just wondering... How often do the free ones happen?

It was my first but I think it is every couple of months

 

[Geoff T]

It was my first but I think it is every couple of months

Which gives you 8 weeks to forget everyone you met while getting the freebie - and in BNI you'd have made contact with the same group of local business people eight times in the same period...

Which group do you think will have a better and more trusting relationship in eight week's time?

 

[Gillie]

Only thing I have found about the lock out variety where you have to give referals, is that when you first join - they are brilliant - but on the whole, they do dwindle off after a few months!

I take it you have been along to see what and how dynamic the other members are in this group? Do you think you will get anything from it, having seen how it works?

 

[adventurelife]

Have you already invested in an online presence? If not think a bit

Online presence delivers year in year out. These networking or notworking meets depending on your view do work but it is constant effort and cost and not suitable to everyone.

They do work though if you put the effort in. Just found easier ways to do it.

 

[Lee Jones Jnr]

To add to my previous, Lee raises a very valid - and important - point here...

Networking - when done properly - is about building relationships with the people around the table, and this is not done overnight - nor are the rewards from doing it...

If you need a quick return on the investment, then look elsewhere... if you want to build lasting relationships with a group of people who will bring you quality referrals on a regular basis - then networking is the way forward IMO... but be prepared to invest time as well as £1100 to see the best return...

The chap mentioned that the £1100 is a big investment at this stage for him (or her) which is why I assumed that a quicker return would be required for the outlay involved. Also as the OP is also working full time, the hours of chit chatting required may be less than easy to come by.

I think it is also important that you are of the right mindset. I doubt I would benefit much from networking events, as I just do not like the idea. Rightly or wrongly, this would hinder results.

 

[Paul Dean]

I'd give a thumbs up for Business Biscotti who offer FREE networking meetings. Not sure whether there's one in your area, but worth a look.

With regard to 4N being cheaper than BNI I doubt it. The starter deal is OK at £200 but you have to add the cost of breakfast at each meeting at £10, and the ongoing annual fee is £490 + VAT. It can add up. You're not allowed to attend meetings without paying for breakfast whether you have any or not by the way.

 

Lots of useful advice here. For my part I would add First Friday and your local Chamber.

I'm neither pro nor anti BNI - I'm quite sure it works over a period of time, but personally couldn't handle the full-on American approach, in particular having to ggive leads which just results in pointless quasi-referrals.

That said, £1,100 does represent a fair bit of marketing budget, so it's worth shopping around.

 

[Geoff T]

The chap mentioned that the £1100 is a big investment at this stage for him (or her) which is why I assumed that a quicker return would be required for the outlay involved. Also as the OP is also working full time, the hours of chit chatting required may be less than easy to come by.

I think it is also important that you are of the right mindset. I doubt I would benefit much from networking events, as I just do not like the idea. Rightly or wrongly, this would hinder results.

Fair points in all that - no arguments here...

 

[Geoff T]

I'm neither pro nor anti BNI - I'm quite sure it works over a period of time, but personally couldn't handle the full-on American approach, in particular having to ggive leads which just results in pointless quasi-referrals.

Not that "Americanized" in my experience, I'm sure it is in places (down 'sarf maybe), but it doesn't work like that up by me... and we are actively trying to withhold a referral until it's been "qualified" or "warmed up"...

That said, £1,100 does represent a fair bit of marketing budget, so it's worth shopping around.

another fair point...