I Want to Start a Business Networking Group

Isn't this similar to local Chambers of Commerce networking events.  Our area holds monthly "Business after Hours" social events for members and others and the meetings are typically held at a different business each month. 

I have never heard of smaller networking groups (we are pretty rural here) but it sure seems like a great idea! I am curious to hear more.

Gina- I was a member of BNI ( Business Network International) for over 25 years. If you are going to be in one, it is easier to start a new BNI group if your position is taken in a current one. I also have started my own groups and it is NOT easy and very time consuming. I quit BNI after all of those years the day that I started getting more listings from sitting at my computer networking on Active Rain in my pajamas and with no makeup on than getting dressed once a week to go to BNI, pay all the fees, the gas, the parking, the drive, etc, and of course playing the politics that goes along with it all. Never regretted my decision that I made about 2 years ago:) Katerina

I joined a new networking group last year through our local Chamber of Commerce called "The Ideal Network Club".  It was created by Mary Kurek, author of "Who's Hiding in Your Address Book".  Mary has some wonderful ideas and you can find her here on Activerain: Mary Kurek.  Check out her blog: 

Five Ideal Networking Tips for Business and Career Success

I actually attended a lunch today to talk about joining a networking group.  The premise is the same as LeTip and BNI, but this was PRE.  You meet once a week, lunch or breakfast, with one person being represented for each profession.  This was a start up group and there were only 6 of us.  I decided against joining because the time commitment of once per week seems a little daunting to me.  Also, the group was comprised of a Realtor (presumably me), a real estate attorney, a personal coach, an accountant an insurance salesman, and an commercial lendor.  Aside from the real estate attorney, who I have already referred some business to, I couldn't see myself in a position to refer the others.  I was thinking of trying to form my own group with the service providers that I recommend anyway, i.e., my plumber, my electrician, etc.  The rules of the group today were a bit too structured for the way I work my business as well.  You must come every week or send someone in your place.  You must bring guests.  You must refer two people each month (this one made sense).  I would have a hard time recommending someone that I haven't used or who hadn't been used successfully by someone I trusted.  And again, the time commitment of once per week, a luncheon, seemed way too much time.  I have a friend who is in Le Tip and another in a BNI group and they are both very pleased with the results and they do meet weekly, for breakfast.  Not being an early morning person, a breakfast group wouldn't be my thing.

I often think of this, but haven't started or joined one because frankly my referral to someone is going to be based on personal experience - I fear giving bad referrals. So much as I over the years have created my own network, small, but I can sleep at night :)

I am a member of BNI and while the fees seem high you do get a heck of a deal for using their systems. 

Also the *I* stands for International.  I have had some international referral opportunities due to member loyalty and the "keeping it in the family" mentality.

The floodgates will open when they unleash their new social networking tool soon.

Contact your local BNI director and ask if you can form your own group and get on the leadership team.  That will help curtail your costs for at least a year.  That will also give you the opportunity to get your preferred vendors "in" stat :)

Oh, and I love my 7 AM breakfast cuz I am an early bird like that!

I would go with the mornings at 7:30 or 8am and probably BNI or something real similiar. I used to be in BNI...it worked but decided to move on and not in one now. 

I am a member of BNI and I recommend having many businesses involved not just RE only.  Most importantly though is to just respect the work of whoever is involved considering you are the one who will be referring them.

Gina, I was in a good networking group a few years ago that splintered off but I work with key members still. Ours is a small town and we didn't want a large group:

Broker

Web designer

Boat salvage/rescue/mechanic

Insurance agent

Contractor

Auto mechanic

Beauty salon owner

Local politician

We met for breakfast once a month... same restaurant

Hi Gina~ I have been considering getting in a new BNI group in this area.  (There is already one, but it is full, so we are starting up another one)  I for one, would much rather meet at lunch time, but will do whatever the group chooses.

I was part of a networking group like this and we had a carpet cleaning, jeweler, cleaning service, insurance, etc... the group ended up having to disband because everyone started acting like kindergartners! "He hasn't give me a lead in a month", "She always gives leads that are bogus just to pass a lead".

I was yelled at by the mortgage person because I didn't like the way he did business and therefore could not refer people to him...

Be careful when you set it up because it will be mostly Ma & Pa shop companies and people and they'll need their hands held.

We started a marketing group (was featured on GMA) by inviting all the Realtors and mortgage people, then florist joined, builders etc. It was for one hour every Friday from 8:30 to 9:30 sharp. All Realtors could present new listings only and if time permitted we would allow old listings. Realtors would make flyer packs and pass them out. We had sponsors that would pay the $100. for the room and other sponsor would bring something to put in the drawing. We would have a money pot that would get as high as $1000., sold tickets for a $1. .50 went into the pot and .50 went to pay for the room if we didn't get a sponsor which never happened so we started having breakfast served.

Throughout the responses I see "BNI", and I've been to a number of these meetings with or for someone.  I've seen first hand how well they work for the members.  They build strong relationships and can be a great referral base. 

Most of the BNIs have only one of each type of business in it so that they don't compete against one another, so sometimes it's hard to find a group. 

There is a website that I've found a group looking to form.   Go to www.meetups.com .  You can find like minded people wanting to do the same networking.  On this site you'll find groups by regions / town / community or subject matter - who want to meet to discuss just about any topic.   If you find or even try to start your core values aligned you've got the makings of a good group.  The BNIs are great inpart due to the fact that the members who are paying to be there, want to be there and they value that.  

Hope you can pull together your group, and if these tool helps in some way. 

I think it depends some on where you live, but in CA I've been a member of 2 different ones.  The good thing about breakfast, you meet before your day has had a chance to get away from you.

One of the groups had about 100 members in it.  It was one of the more expensive ones.  The downside is it's expensive, the upside is that anyone who's paid the money to be a part of it is committed and will probably show up.

If you're going to go through the effort of putting this all together, it's probably only fair that you target businesses that are in a position to send leads to you.  In other words, your loan officer, appraiser, home inspector are folks that often don't meet the client until they're working with a Realtor, you trickle leads to them.  An attorney, accountant, hairdresser etc may have clients who share with them a desire to buy or sell and would have referrals for you.

In my experience, the groups are organized around 2 individual businesses sharing what they do to the group each week and a "pass the hat" for leads.  Some ask that you throw a buck in the bucket if you show up without leads and that money is sort of a slush fund.

I'd be looking in other networking spots for folks to be a part of the group.  Those who show up to Chamber Mixers, are part of groups like Rotary and Kiwanis often understand the value and power of networking.  Today you might also finds some good candidates on sites like Facebook.

Good luck.

Gina,

I am so not a morning person (which is why I'm on Active Rain at 1am). But, I've found mornings are so much better. You get up early, get a jolt or two of coffee, and hit the ground running.  You leave your networking meeting all jazzed up, though you will usually be dragging earlier that night.

The alternative (lunch) requires more time out of the usualy business workday. Even if you're okay with that, most people you want to invite won't be; and it seems more people are morning people (though I guess that's what I'd find at breakfast networking groups).

One local investor here in DC has a real estate investor networking group, and they meet monthly, 10pm on a Monday night, often going until 2-3am.  It may work for some, but I can't see most people being able to survive that. I went once, I'm a night person, so what right?  I was completely useless the next day.

_Claude