Two weeks or so ago I took part in a panel session on networking for CIOs. It was an interesting conversation, although it pretty much centred around event attendance and using social networking tools like LinkedIn. At the end of the session, as I reflected on what had come out of it, I was surprised to find that the concept of “networking events” continues to be appealing to many people.
I find networking events quite pointless and in fact a little unsavoury, and thought I should put up some arguments to why they are a waste of time for anyone looking to build a great business network.
The quality of the network
A great business network isn’t necessarily a large one, but it is full of people that are shaping their own worlds.
1. People with issues that need solving in their business, have no motivation to attend networking events – instead they attend knowledge-based events to help them find solutions. To them, networking could be a bonus, not the point of attending. My experience is that networking events are overwhelmingly attended by people with a “supplier” mindset, not “customer”. So you are unlikely to make interesting connections.
2. I have never met a senior executive or person of profile at a networking event, other than when they were presenting. Networking events are almost exclusively attended by very junior people. Since I have never met anybody that wanted to network down, rather than with peers or upwards, you have got to ask yourself “Will I meet the CEO there, or just junior sales staff?”
3. The most interesting and valuable opportunities I have ever come across have been with people completely outside my own area of activity. If you are an accountant, who only ever turns up to accounting industry networking events, exactly who do you think you are going to meet?
Your value and mindshare
A great business network is two-sided. You value people in it as much as they value you.
4. I own two shovels that are identical, because I forgot I already owned one when I needed a shovel. So a great networking connection is one where who you are and your value gets remembered the next day. Unfortunately networking events rarely generate that type of connection as the purpose is to meet as many people as possible – so that you increase your chances of getting lucky and finding an opportunity.
5. Networking events also tend to be very industry or location specific, so that your own value proposition tends to get hidden in the white noise of the event. For instance, would you rather be a lawyer at a legal function, or a lawyer at an event full of multimedia people looking to expand overseas?
Attributes of the secondary network
A great business network connects you to other great networks.
6. Just working a room looking for opportunities is a completely soulless activity. But not only that, it also means that you may miss out on tapping into the networks of the people you meet.
Something that’s wonderful to hear is “I need to introduce you to a friend of mine”. Those words don’t get spoken at networking events, because everybody is just too focussed on pushing their own message and desperately hoping for a win.
So my argument is that if you want to build a great business network, attend events from different disciplines where knowledge transfer is the primary goal, not just networking. Not only is it more effective, but a much more palatable way to live your life.
To read more Brendan Lewis blogs, click here.
Brendan Lewis is a serial technology entrepreneur having founded: Ideas Lighting, Carradale Media, Edion, Verve IT, The Churchill Club, Flinders Pacific and L2i Technology Advisory. He has set up businesses for others in Romania, Indonesia and Vietnam. Qualified in IT and Accounting, he has also spent time running an Advertising agency and as a Cavalry Officer with the Australian Army Reserve.
Smart Company is the leading online publication in Australia for free news, information and resources catering to Australia’s entrepreneurs, small and medium business owners and business managers.
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