Whether you attend a formal meet up group or you have developed a referral network on your own terms, you have probably thought about how your network would compare to others.
If you ask anyone who’s been in multiple business networking organizations, they’ll likely tell you that not all business networks are equally effective at creating business opportunities for their members.
The dynamics of a networking group are as unique as the members they are composed of.
Consider these three factors:
Size
The optimal size of a referral network is a hotly debated subject. In our blog, What is the Ideal Size for Business Networking Clubs? we took a look at Dunbar’s number.
Professions
What type of professions make up your referral network? While there are no definitive rules, professionals tend to come across certain referrals more than others. An extreme example would be an electrician, carpenter, plumber, and a venture capitalist. The tradesmen may not be as likely to refer clients to the venture capitalist as they do each other. You can imagine that this system can become quite complex with a group of 50+ professionals.
Personality
How invested in the referral network are the members? Are all of the members highly motivated and serious about each others success? Or, do the members view the referral network as just one more way to try and promote their services?
No two networks are the same. Sometimes the best way to ensure top quality members is to create your own referral system. Get out there and spend some time networking. Let the cream rise to the top, hand-pick your referral partners, and invite them to join your own private referral network.
Tags: business networking organizations, Referral System
