6 Reasons Why Not To Run Business Networking Events
Here are 6 reasons why not to run business networking events which you should think about before investing your time and energy. I know many people who are attracted by the prospect of making large sums of money only to find that just as with any business their time is quickly consumed, the thriving networking events they imagine do not materialize and they have little to show for the time and money invested.
- No good reason to run a networking event
Many people get carried away with the idea that they can run a networking group but actually have no good reason – if there are already networking events that service your needs, if you don’t get personal satisfaction from the process or if you already have a business which makes you money why would you want to do it yourself?
- Running networking events is becoming increasingly competitive
There are many networking groups, clubs and events out there so do you research to ensure that you really do have a viable business proposition and are offering something unique in the market place.
- Running successful networking events involves hard work and experience
Be under no illusion that running networking events is easy and doesn’t require hard work. Like any business if you are going to be successful you have to put in the hours and be focused on producing a great end result. Many people run networking groups alongside other businesses and then find that their focus shifts and their primary business suffers - this is the biggest reason in my book why not to run business networking events.
Also I have seen business owners attempt to run their own events only to find after the first event there was more involved than they expected and decide it is not worth the effort.
- Running business networking events involve costs
If you run an event then you have to book a venue, generally guaranteeing a minimum number of attendees. Even if you don’t get the expected numbers through the door you still will probably have to pay your venue the costs of room hire or catering…unless you can negotiate a flexible deal with them. Then there are the costs of marketing your groups…after all how else are you going to get people to attend?
Then there are the costs of your time…time spent marketing the group, preparing for the event (taking bookings, preparing guest lists and name badges, chasing for payments etc.)
- People do not attend…even if they say they will
One of the most frustrating things I found when running events was that many people would book onto events and then not turn up. In time I found that I had to always allow for this in my booking arrangements with the venue to save being saddled with costs of non-attendees.
- Getting it wrong costs more than just your time and money invested
What so many people fail to realize is that doing something outside their usual area of expertise can seriously damage their reputation if they get it wrong. I have seen accountancy firms and IT companies run their own events…and do it badly, and I am left wondering whether the way they have run the event is a reflection of how they run their core business. If you are not able to offer the same standards in your networking as your main business then don’t do it.
If after having read all of the above about why not to run business networting events and you're still not phazed - well maybe this is your ideal career path?
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