Choosing the Right Network, Part I — Quantity vs. Quality

No matter the size or type of business you’re in, even if you’re in transition, the following truths hold:

The better connected we are, the more likely it is that we will get what we want more often, and

We have a limited budget of time, energy, effort and money.

A growing number of businesses are becoming savvier these days as to choosing which Networks with whom they chose to associate.  Over the next several months, we will be examining some of the many factors that go into making their decisions.  This month, we will look at the Quantity vs. Quality of Contacts issue.  What I find is that most every Network, by design, supports only one of these strategies.  While some claim to appeal to both sides, rare is the Network that can pull off both with equal effectiveness.  Let’s take a look at these two standpoints.

The Quantity Argument

Proponents of quantity of contacts favor the “casting of a larger net” to get to a wider audience.  Networks that support this ideology typically run larger events featuring sponsors and outside speakers to attract a bigger crowd.  Those who favor these events prefer the diversity of new faces and choose to Network rather than feel they are forced to do so.  Added pluses are that there are no overt rules or policies, especially as far as attendance is concerned.  Organizations like Network Plus, SmallCompanies.com, speed Networking events, Chambers of Commerce and Local Business Associations tend to fall into this category.

Critics of quantity tend to view these organizations as a waste of time because it is more difficult to build appropriate business relationships and that the majority of attendees don’t seem to “get it” in terms of Networking skills.  Generation of meaningful referrals also take longer because the same people don’t always show up.  Additionally, the lack of structure of the events (with the exception of speed Networking) reduces the level of commitment that members have to each other.

The Quality Argument

Proponents of quality of contacts prefer to limit contact with a select group of high-powered, influential individuals with whom they have heavy, in-depth relationships.  The forum for these relationships happens within both highly-structured, regular meetings as well as one-on-one meetings between members.  Networks supporting this viewpoint often provide members with training to build better skills as well as stronger policies and structured meetings to ensure loyalty.  Organizations like BNI, LeTip, localized spin-offs of these organizations and the classic “good-ol’ boy” clubs tend to fall into this category.

Critics of quality of contacts view these organizations as overbearing, rigid and exclusive.  Members are forced into Networking as well as with those they might not like or trust.  The commitment level is sometimes viewed as extreme, especially in terms of attending meetings regularly.  Typical questions asked are “What happens when people change jobs, get fired or move away?”, “What if I have a pre-existing relationship with someone who is not a part of this Network” and “What if I don’t like the ethics of some of the other members?  Does this mean I’m stuck?”

As one who believes in balance through the bridging of several Networks to leverage one’s marketing dollars and time (Networking is a subset of one’s marketing strategy), I find that not everyone can be part of multiple organizations.  The question then becomes, which one to choose?  The answer depends upon who you are trying to reach.

For example, an independent associate of a Network marketing company may wish to reach as large an audience as possible to not only sell product, but to build a sufficient downline.  They may choose to join either a Regional Chamber of Commerce or visit local clubs for people in transition.  Quantity over Quality.

On the other hand, a mortgage originator may want to establish close, in-depth relationships with several realtors, title agencies, attorneys, financial advisors and banks.  Just two or three working contacts in each of those professions can provide a steady stream of referrals for years.  Quality over Quantity.

What Works for You?

I am reaching out to our readers across the country to email me with which of these strategies have served you the best.  Be sure to include your success stories as well as your profession and where you spend your time Networking.  Stories will be selected and featured in upcoming issues!

In part II of “Choosing the Right Network”, we will examine the “feel good” aspect of Networking.  Stay tuned!
 

Kovitz Enterprises, LLC
Connecting, Educating and Inspiring Business
18 Rockwood Road
Levittown, PA 19056
(215) 945-3411