Is It Worthwhile to Join a Networking Group?

Posted on 11. Feb, 2011 by in General

It doesn’t matter what you know, it’s WHO you know.

If you’re not getting your message out, no one will know your business exists. In addition to your standard advertising and marketing plans, networking face to face can very likely result in sales leads or job referrals. That’s not to say it will happen immediately. More likely you’ll need some time to meet people and start nurturing relationships with other businesses in your community. But networking and attending public events will eventually lead to name recognition.

One way to meet people is to join a local networking group; however, not all networking groups are created equal. Since your time is valuable, choose a networking group that is well established, meets regularly, and has a large variety of different businesses as members.

A good networking group should be more than just a group who meets for coffee every week. A successful networking group often has officers, follows certain rules or bylaws, offers guest speakers, and has a membership application process. While this might sound exclusive or cliquey, there are solid reasons for having these processes

Without officers and rules, the group will be stagnant, have no plan, and will be little more than a coffee clatch. Your time is valuable so the group should offer value, something you can use in your business, such as guest speakers or specialty programs, especially if you’re paying yearly membership fees.

A membership application process is important to keep a balanced group. Balancing younger members with older, more experienced members keeps the group from being too laid back or too frenetic. It’s also a way to confirm the applicant’s work experience and to see if he or she is actually good at their job. After all, if you refer a networking member to one of your biggest clients, you must have confidence that this member will complete the job well so you don’t look bad in the process.

One word of advice: once you join a group, members might be offended if you constantly try to elicit referrals and do nothing else to add value to the group. Yes, ultimately you want people to give you referrals but what are YOU doing for the other members?

It’s all about relationships and you have to give just as much as you take.

Jane: Keeping up with all the trends and developments in the property industry, changes in legislation that impact real estate investments, new services, tools and resources to streamline your operations, and new strategies to take advantage of changing market conditions can keep an investor busy full time. 

By joining a real estate investors networking group  means that you have an additional team of people who understand your goals and objectives and the methods you employ to realise these, who are keeping you updated with the relevant information, ideas and solutions that can assist you in managing your real estate investment portfolio. 

Don’t underestimate the benefits of networking!

Have a great weekend! Jane

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2 Responses to “Is It Worthwhile to Join a Networking Group?”

  1. Everyone who has ever networked or is networking should read this post.

    So many people at networking events go there to pitch their stuff but no one really cares about you or what you do. Not until they get to know-like-and trust you.

    And the easiest way to do that is just to have a normal, sincere conversation with me…

    Like Investing in Real Estate Properties, it takes time.

    Great reminder, Richard.

    Chung

  2. Jane

    27. Mar, 2011

    Many thanks for your comments Chung. You’re absolutely right, networking takes time, patience and a lot of perseverance. I like to think of networking as an opportunity to build real relationships, actively maintain them and give as much back as I receive. A happy and prosperous life is rarely a solo performance!

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