Professional Networking Group Breakdown
Hi All,
Professional networking groups are an effective way to generate new business, refer leads to others, and generally network with local professionals. But they can be intimidating if you do not know much about them. We are breaking down professional networking groups, how they work, what to expect, and how to tell if it is right for you.
What is a professional networking group?
A professional networking group is a curated group of professionals that meet on some regular basis with the set goal of networking, most often for referrals. This group is often vetted by profession and requires membership fees. There will also usually be a regular meeting schedule. A professional networking group may be a local group or may be a chapter of larger national or international professional networking group.
How do professional networking groups work?
Typically the president (or otherwise designated person) will open the meeting with any new business and introduce any visitors. Then you go around and do a brief 30-second elevator pitch style introduction of who you are, what you do, and what is an ideal referral for you.
Next, you are given the chance to pass your tips. Then one member has a chance to give a presentation about their business. This helps the other members of the group learn more about them and what types of referrals they might be looking for.
How do I know if a professional networking group is right for me?
First, look at how much your fees are and how much one warm lead could earn you. For most attorneys, this would be one or two referrals. But if you are in an industry where it is going to take a lot of referrals to just break even, you want to be certain that joining a group makes financial sense.
Second, make sure you visit a few different groups and that they are made up of professionals that would likely refer work to you and that you can refer work to. For an attorney, some of our best referrals come from attorneys in other practice areas.
Benefits of Professional Networking Groups:
Regularly scheduled networking with the intent being business generation.
Collaboration with other professionals.
Professional development opportunities, such a speaking engagements.
Enhance your networking skills.
Have a great day!
Haley & Amy
Photo by Christina @ wocintechchat.com on Unsplash
Please keep in mind that your jurisdiction will have rules of professional conduct that you must follow. This discussion does not focus on the any such rules, including the rules from the jurisdiction where we practice. Rather this is a discussion of tips we have found helpful in managing client expectations in our own experiences. This should not be taken as legal advice.
We make absolutely no guarantee, expressed or implied, that by following the advice you will make any money or improve current profit, as there are several factors and variables that come into play regarding any given business or career. Primarily, results will depend on the business model, the conditions of the marketplace, the experience of the individual, and situations and elements that are beyond your control. As with any business endeavor, you assume all risk related to investment and money based on your own discretion and at your own potential expense.
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