The Need for Speed

Commentary February 08, 2010 at 07:00 PM
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Speed networking, that is! From a fun standpoint, this is one of my favorite types of networking venues. It's based on the format of speed dating. I used to facilitate and run these speed-networking events – and even that was fun!

These networking groups are very selective about the people who sign up for their events. They don't want to have 14 financial advisors attending; that would defeat the purpose. But imagine attending a speed-networking event as a producer and connecting with a CPA, estate planning attorney, and banker who all understood (like you) the value of giving? Now that's not a bad blind date. There are usually 20 to 22 attendees at these events; if there are more, they're split into two groups.

Everyone at the event is prescreened to ensure that they're in different professions. You start off face-to-face, nose-to-nose, belly-to-belly with somebody. A bell rings, and you have five minutes to spend with each person — that's two-and-a-half minutes each — to talk about who you are and what you do (and with whom), and to collaborate if there is a fit and if you can help one another. You are not selling people on your services. You're selling them on what you do and the types of people with whom you are looking to work. If there is a great connection there, you exchange cards. After the five minutes are up, the bell sounds, and the inside row circles to the right. Now you are face-to-face with somebody else. And so it goes.

Within an hour-and-a-half, you have connected with 13 to 15 people. Sometimes food and cocktails are served. The time flies by, and it is a lot of fun, but by the end of the event, you are exhausted because you are "on" each time you meet a new person. It's like you're doing 15 takes of the same commercial. (Remember the movie "Groundhog Day"?) But you can walk away with 15 business cards, which can equate to 15 follow-ups, meetings, conversations, and who knows how many prospects. Sure beats cold calling.

Speed-networking events are a missed opportunity for a lot of networkers, and certainly for plenty of producers. Again, it's an untapped resource. You meet a lot of people, and you never know where it's going to lead you. You could even end up with a date!

Michael Goldberg is a speaker, author, consultant and the founder of Building Blocks Consulting.For more information or to subscribe to Michael's free online newsletter and blog The Building Blocks to Success please visit www.NetworkingForProducers.com or www.TheBuildingBlockstoSuccess.com.

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