What is networking?
Networking is developing contacts for mutual beneficial relationships. Everyone is networking to benefit themselves, but it is important to think about how you can benefit the other person as well. It is important to build a professional network so that you can make appropriate referrals, get referrals, and possibly even partner with someone to provide a complimentary product or service.
How to select a networking event?
There are many types of networking events and each one has its own benefits and struggles.
Single Networking Events
Pros
- It is only one day and does not require a regular commitment.
- The price varies and it can be inexpensive or free.
- You might be able to get some quick business depending on your industry and who is at the event.
- Since everyone walks around at their own pace, you can spend as much or as little time with a person as you would like.
Cons
- Many people show up just to give out their own business card.
- It is difficult to get to know people that quickly to know if you can trust them or if the quality of the product or service is any good.
Speed Networking
Pros
- You can meet a lot of people very quickly.
- The price varies and it can be inexpensive or free.
- You might be able to get some business depending on your industry and who is at the event.
Cons
- Everyone is there to quickly give out a lot of business cards.
- It is difficult to learn about a person or their product in the few minutes that you have before moving on to the next person.
- Everyone has the same amount of time to speak with everyone else so even if the conversation is going well, you have to move onto the next person.
Networking Groups/ Organizations
Pros
- The groups normally meet regularly giving the members time to get to know each other and build a relationship.
- Some groups only allow one person per industry to decrease the competition within the group.
- It creates a network that you can count on.
Cons
- There is normally a high expense included with membership.
- Attendance is normally required at a certain percentage of the meetings.
Written By: Stephanie Dunaieff