Networking Events - Are they worth it?

[reynoldsdigital]

I was called the other day by a salesman (one of around 10 a day). He told me about networking events in London and the cost had been reduced from £400 to £150 but only if you purchased TODAY! I didn't buy as I don't trust most of them but what I wanted to know is are there any decent networking events, what do you do, how much do they cost, I'm a web designer - whats the best type for me?

 

[Business Spy]

Hi

I think they can be useful... but for every great one you attend you are just as likely to attend about 10 that are useless! It's very much hit and miss..

The best ones (in my humble opinion!) are usually run by your local chamber of commerce... They do charge a membership fee but after that the cost of each event is relatively low.. I have been to quite a few in my area and come back with some contacts that have proved to be useful.

However, something I have found time and time again and it never ceases to amaze me is how people who work in a certain industry tend to go to that industry's event - for example, training providers tend to all flock to a training event - so they have little success looking for new business amongst themselves (their competition!) and they all end up preaching to each other about the same things.. They would have more luck going to a general HR or breakfast meeting where the company is more diverse if you see what I mean!

I think they do have their place... but I don't think I would spend over £100 to attend one unless I felt it was really going to be worthwhile!

 

I am inclined to agree with Bunsiness Spy. Additionally I would inherently mistrust anyone calling cold and asking for money now. £400 'real' price - unlikely!

Most of the established networking groups wil let you attend one or 2 meetings for free (or at marginal cost) until you decide to join. Chambers often run free events to entice members.

As to whether networking works -well it gives you the opportunity to put yourself in front of people in a business environment, so it can't hurt, can it!?

 

[adventurelife]

I go to less than one per year and I am very selective about which one I go to.

I never go just to met people or to pitch what I do, I go because I know someone else is there I want to meet or preferable several people. I always make contact before hand as well.

I prefer industry ones as a lot of our business and future business will come from partnerships with the industry. You can also learn a lot at a good one.

Next month I go to a week long network event in Quebec which is a substantial investment in time and money. I have two objective for the week. As always you never know the result until you do it but the pre planning is in place.

 

[Tregeor]

I go to BNI which costs £570 to join and then £400 per year, plus £6 per week but you do get your breakfast for that! Is it worth it? Well I've been a member since about June and I have earned the initial fee back in the work I've been passed through referrals. (I'm an Estate Planner)
Whether it is really economic in the long term remains to be seen but I've decided I will give it my best shot for a year and then see how it has gone.
I must say however that I do enjoy going along and meeting other business people. I am a sole trader so it is nice to have the opportunity to get out once a week and meet other people who are business minded. I have found it quite motivating.
There is a web developer in our chapter and he has been a member for over a year. He runs a pretty big business so he must have decided it is useful.
You can go along to your local BNI twice to see if it is for you. I would give it a go as you've got nothing to lose and I'm sure you'll get a warm welcome.

 

[findnetworkingevents]

I agree with fundingportal, try out a few for free and see which ones suit you, they are all completely different.

Some are completely informal, some the opposite. Some are mainly populated by smaller businesses, some by bigger organisations, so it depends on who your target customers are.

I think it is very important to give it time, many people go to one meeting, fail to make a sale and say it was a waste of time. It takes time to build up relationships with people so that they know and trust you.

Stuart

 

[get clever]

Our bespoke design business has been built entirely on the back of networking events. We've been a member of BNI for many years and recommend it highly. It's very important to try a few out though. Different networking groups are structured in a different way and suit different people and the type of business/trades represented can vary wildly from group to group as well.

 

[am:pm graphics]

Like others have said. Try a few different ones out..there are all kinds of networking events. Early morning, evening, walking events etc. The free ones can also be a good place to meet and make contacts.

Pauline

 

[yorkshirejames]

If anyone hears of any good, genuine friendly networking events in the London area, I would be interested in hearing.

I'm not interested in going to something that takes all morning and is very formal (like I've heard BNI is), however I would be interested in something low key and relaxed - perhaps either a before-work breakfast meeting or after-work beers.

 

[GRDCredit]

If anyone hears of any good, genuine friendly networking events in the London area, I would be interested in hearing.

4Networking is the place for you!

Principal advantage for me over BNI is that you are not restricted to attending one group. With the passport membership you can go to any of their breakfast meetings - upto 4 per week if you want to!

 

[Joe E]

Agree with GRD credit on this 4N is a very very good networking group. Unstuffy, no silly restrictions and you can go to more than one group throughly recommend.
http://www.4networking.biz/

 

[lspencer]

A lot of good advice here.

I would add that you do need to find events that you are comfortable with, but never make the mistake that they are just for socialising, go consistently and don't expect early results.

Be focussed - understand who your niche market is and how you can help them and PLAN the networking that you are doing.

There's a lot more about getting the best out of networking on the NRG web site - top tips, podcasts and so on.

If you're B2B you may want to look at NRG.

Our testimonials are on the web site.

Happy networking

 

[Shaun_Pearce]

Thanks for the information in regards to your services by the way - very helpful!

Back on topic...

I'm with GRD Credit & Joe E on this one. 4Networking.biz offers something different in my opinion.

Having the ability to come and go as you please is the way that I prefer to network If I'm being honest.

Consider visiting the forum and introducing yourself. The use of the forum is free and it will allow you to get a feel for the type of people who attend the meetings.

http://www.4networking.biz/forum/

If you then decide that you would like to attend a meeting then you can go to 2 of them completely free to "test the water" and see if it's for you.

Nothing to lose really...

With 195 breakfast groups across the UK, you really are spoilt for choice.

http://www.4networking.biz/events/find-your-nearest-group.htm

Some would say - "4N Rocks!" (Sorry Geoff, forgot myself there...)

Good luck!

 

[LocalBusinessChampion]

Whether or not networking events are worth it depends very much on your attitude and approach to networking. Some people attend events and stick to their comfort zone, speaking only to people they already know. Others use networking events as an opportunity to 'cold call in person', in other words they play a numbers game and just pitch their business to everyone they meet in the hope they will strike lucky. Out of courtesy, they might just ask what the other person does, without really listening or while looking around for the next 'victim'. Neither the meek nor the mercenary approach work very well!

If networking is to be successful, you need to go in with a positive attitude and a long term strategic goal of building your own trusted circle of contacts or referral network. You should seek to establish yourself as someone helpful and well connected, who is able to recommend reliable companies and regularly puts business people in touch with each other.

Building this sort of reputation and network takes time. The focus should therefore be not just on your own business, but how you can help those in your referral network, because each time to you help or refer someone, they will be more likely to return the favour. You're then effectively networking for each other, which is a great position to be in. There's immense power in a referral because of the trust factor when someone else recommends your services.

Having built my own business through networking, including BNI and Chambers of Commerce, I now run my own very social business networking evenings in Richmond and Twickenham which provide a good networking opportunity for local businesses, as we often have over 100 attendees. Our relaxed and informal approach is popular amongst business owners, as there's a huge social side to networking that is often overlooked. Running your own business can be lonely at times, and the support and ideas picked up from fellow entrepreneurs can be highly motivating.

My advice is to try them all, including BNI, Athena, 4Networking, Chambers of Commerce, thebestof, Business Link, etc. and then stick to one or two that you enjoy the most. Useful sources of how to find networking events are FindNetworkingEvents and MakeYourMarkConnect.

 

[Geoff T]

Being a member of both BNI and 4Networking, I don't think they're mutually exclusive, but then - up here - you have to make the best of what we have, which ain't much!

The other thing is that in my game, referrals are by far the best way to obtain business, so it's worth investing the time and effort into it - and I'd much prefer to get new business from people I trust.