Minimize Your Networking To Maximize Your Results

Networking is a big part of having a business--but it can also be a huge waste of time and money. I know someone who was always off to a meeting of some sort, and then trying to get her work done at 2AM in the morning. Yet she was always complaining about not having enough time or clients.

Instead, you need to approach networking strategically. It's far better to be very involved in two or three groups than to hit 15 each month in a scattershot fashion. After all, time is money too.

If you're looking to make the most of your networking time and money, ask yourself three questions (and be honest!):

1. Does it have a room full of your best potential clients?

2. Does it have a room full of people who would be excellent referral sources for you?

3. Do you learn things you need to know and don't already know?

Knowing who your best potential clients are will certainly make the first question easier. But it means you have to STOP thinking that everyone can be a great prospect, if you can just educate them about the value of their products and services.

No! A great prospect is one that already understands the value of what you offer and is willing to pay for it--you just have to convince them to choose YOU. Similarly, great referral sources understand what you offer and frequently have clients looking for it.

Either way, if you want to maximize your networking time, THESE are the people you want to be in the room with! The others you can reach out to through broader marketing efforts like speaking gigs, social networking, or your ezine.

Finding the Right Rooms

Once you know who you're looking for, seek out association meetings or even local Meetups they may attend. Or get creative. A savvy financial planner targeting the newly retired began taking mid-day ballroom dancing classes. Not only was he the only financial planner in the room, regular classes meant his prospects got to know him and like him--making it much easier to trust him with their finances.

And remember--the networking doesn't have to just be ongoing groups. Obviously there's social networking, but consider seminars and conferences as well. If your best prospects are hard to find locally, your time and money may be better spent going to events they'll attend in droves.

As for the third question, sometimes the value of the information you receive from a group is well worth the time and money alone. But if the info is valuable occasionally--and the group is not full of great prospect or referral sources--cut the cord. Most of the time, you can attend an event here or there without being a member.

Less Can Be More

I'm not saying you should never join a group that doesn't fit these three reasons. There are certainly other good reasons to do so. But if you're looking to minimize your time spent running around to meetings and maximize your bottom-line results, these are the three to focus on. And I'm speaking from experience.

In the past year, I've trimmed my memberships down to two local networking groups--one of which doesn't even have dues. There are a few social networking offshoots I attend as well for personal and business socializing, but only two business groups that I go to every month. Both of which are solid yeses for at least two of questions above. Plus, they surround me with other business owners who "think big" to keep me in the right mindset.

The $1,000 I've saved on membership and meeting fees over the past year will certainly make it easier for me to attend more conferences and seminars this year (where my ideal market hangs out). And I'm already busier than ever.

Tracy Needham, founder of Compelling Communications, LLC, helps small business owners boost their business through compelling copy and marketing strategies that make the most of their time and money. Sign up for her FREE Special Report: The One Press Release You Can Write to Get Thousands of Dollars Worth of Free Publicity at www.compellingezine.com.