Networking 101:
Types and Benefits of Professional Networking Groups
Over the course of my years representing businesses and business owners, I have had the privilege of interacting with a variety of other professionals from all kinds of industries and backgrounds. These individuals have greatly impressed me, not only by their broad range of knowledge and insights, but also by their willingness to engage in the local business community, exchange referrals, and generally help their fellow business people succeed. This is the world of networking – and when properly implemented, it can turn out to be a very powerful tool for practically any professional. In the first post of a three-part series, I would like to provide an introduction to the potential benefits of this form of interaction.
Networking can take many forms, from casual gatherings with a handful of colleagues to large, regular meetings of dedicated groups. Examples include:
- Strong referral groups – These groups meet on a regular basis with the primary goal of referring business to each other and helping other get more business. The most well-known is Business Networking International, or BNI, which maintains chapters throughout the U.S. and worldwide. BNI is example of a fee-based, industry-exclusive group, in which only one representative of each profession may join a given chapter, with regular attendance as a key requirement.
- Casual referral groups – Casual referral groups can resemble strong referral groups in their size, attendance, and regular meeting schedules. However, these groups tend to be more flexible about membership and attendance, allowing multiple members of a given profession to attend as they wish. An example of this type of group is a Chamber of Commerce. This fee-based organization operates in a setting where there are regular meetings, networking opportunities, and other functions. Although a Chamber of Commerce does not practice industry exclusivity, regular attendance is encouraged to obtain the greatest benefit and to develop relationships that will lead to successful networking.
- Service organizations – Service organizations include those national, regional or local groups that exist primarily to serve the community. Well-known examples include Lions, Rotary, and Key Clubs. Joining these organizations allows you to meet and interact with a wide cross-section of business professionals. Your prime purpose here, however, should be participation in the club’s service-oriented projects and events, with networking for your business as an afterthought.
- Professional associations – Professional associations give you a chance to exchange information, knowledge and referrals with others in your field or industry. In addition to formal national associations, you can often find Meetup groups and other industry-specific gatherings in your general area. You may even decide to host such gatherings at your own workplace.
If all this activity sounds like a considerable investment of time and energy, it is. But think about some of the things you can gain from networking, such as:
- Qualified referrals – When you network with other professionals, you’re educating them on your unique selling points and ideal customers. You might even end up providing services for them directly. The extra insight into your business means that they can genuinely recommend you to the right people, providing you with “warm” or qualified referrals.
- Professional collaborations – As you learn about the other professionals at your networking events, you may see opportunities to combine forces, collaborate on projects, and possibly even create package deals for your shared customer base.
- Community awareness – Your constant presence at networking events and groups raises others’ awareness of you, your business, and your brand. Additionally, the more you learn about what’s going on in your community, the deeper your understanding of it becomes. This not only allows you to be of greater service to your community, but it also makes you a more valuable source of information for your fellow networkers.
In my next “Networking 101” post, I will offer my thoughts on how to network as intelligently and productively as possible. Part 2 can be found HERE. Part 3 can be found HERE.
© 2018 Matthew W. Harrison and Harrison Law, PLLC All Rights Reserved
This website and article have been prepared by Harrison Law, PLLC for informational purposes only and does not, and is not intended to, constitute legal or financial advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice from an attorney licensed in your jurisdiction.
