The Downsides to Joining the WRONG Networking Group 

While there are many benefits to joining a networking group, there are also many downsides to joining the wrong networking group.  How many clients have you gained based on referrals from family, friends, or business contacts?  Depending on your industry and your ability to work your pre-existing network, the answer to this question may be high. 

Networking groups typically allow business professionals to build valuable relationships both within and outside their industries.  These connections can provide many benefits including establishing you as an authority in your market.  Here are some networking group statistics you may find interesting! This doesn’t mean every networking group is right for you.

How do I Know if a Business Networking Group is Right for Me?

Picking the best networking group for you is essential for career success.  Asking yourself the following questions can help you determine if a networking group is right for you:

Can I commit to the time?

Some networking groups meet weekly while others meet bi-monthly or monthly.  The question you are really wanting to answer is whether or not you can commit to the networking group meeting days and times.

Can I commit to the rules?

Some groups have more relaxed rules and expectations than other groups.  While there is nothing inherently wrong with this, we find that having systems and rules in place actually helps the members make more money while holding them to a higher standard.

How long have the other members been a part of the group?

While every group is going to have new members, talking and visiting with some of the more senior members may be beneficial.  You can ask them why they’ve chosen to stay for so long, what value they’ve received from it, etc.

Are there industries like mine in the group?

If you are thinking about joining a construction-based networking group, but your business is tutoring kiddos, you may want to rethink joining that networking group.  Sure, you may get some referrals, but it may not be worth your time and money to join.

Do I have the same target audience as the group or at least some members in the group?

One of the things we do in We&Co is find out a potential member’s target audience and invite them to visit a Huddle that has the same target audience.  Naturally, we make sure there is no industry overlap in the Huddle we invite them to.  We don’t want two realtors to join the same residential real estate group!  We would love a realtor to check out a networking group with a P&C insurance professional, a mortgage lender, a title company, a home inspector, etc.

Do I have a friend in the group?

While you may not have a friend upon initially joining, it would serve you in the long run to make a work bestie.  Not only does this boost morale, but referrals are more easily passed between friends!

What’s the value?

I’ve been to groups that act more like a social club than a professional network, and I’ve been in groups that are 100% pure business.  A better question would be “what value do I want to get out of the group and does this networking group provide that value?”

Do they pass a lot of referrals?

Personally, I love being a resource for other professionals.  I pass a lot of referrals to colleagues, friends, family, and other professionals.  However, ensuring that I, too, receive referrals is also important.  I have a business and I want to make sure I stay in business!

What is the culture of the group?

Each networking group and chapter has its’ own culture.  Is the culture in alignment with what it is you are looking for in a networking group?

Are the group’s values in alignment with my own?

I’ve experienced a lot of different networking groups, and ensuring your values are aligned is critical for success.  Do you conduct your business in a way that is legal, ethical, and moral?  If so, joining a group that doesn’t uphold this may hinder your career success and growth.

Are there other members in the group I can refer to regularly?

We all want to be of value and ensuring that you can bring value to the group is essential for your long-term success.  This is integral in finding the best networking group for you and your business.

Are there systems in place to ensure accountability?

There are several different types of networking groups, and I have found that for me personally, the best networking group for me has systems in place that keep me accountable.  I want to pass a minimum number of referrals every year, I want to be of value, and I want to reach my goals.  Finding a group that has this is an important part of my success and the success of the group!

What are the costs to join beyond simply the membership fee?

Joining a networking group means taking into account time cost, meals (if applicable), coffee, gas, and time out of the office.  What are ALL the costs of joining a particular networking group?

How big is the group?

Some professionals want to join a group with at least 50 or more members, and others want just 5-10 of their ideal referral partners that they refer to regularly.  It’s up to you and what you want!

After answering these questions, you can more readily decide whether a networking group is right for you or not.  The cost of joining the wrong networking group can cost you more than time and money, it could cost you relationships too!

The Downsides to Joining the Wrong Networking Group

• The wrong networking group can cost you time and money! 

Exorbitant expenses, membership fees, travel time, and gas can start adding up if you aren’t gaining anything from the group.  Not to mention the time you could’ve spent focusing on IGA’s or income-generating activities.

• The wrong networking group can create bad blood between you and other members of the group.

I was part of a networking group for a while and made a business connection in that group that actually stole money from me!  As a single mompreneur, I already had enough challenges, but having someone flagrantly steal from me was confirmation enough that I didn’t have any business being a part of that group.  I’ve even been a part of a group whereby a gentleman solicited me for sexual favors!  That group was obviously not the right networking group for me!

• The wrong networking group can also create an insular effect.

I’ve been a part of groups that discourage passing referrals to people outside of that organization.  While I understand the logic behind this is to make the members more successful, I also believe in passing the right referrals to the right people in the group.  If I have a client who needs a particular product or service, and I also know this client won’t get along with a person in my networking group, I’m not going to pass that referral to them.  I’ll connect them with someone who matches their personality and who will feel comfortable working with them.  There are groups, however, that discourage this.  I am a firm believer that the fit must be right for you, right for me, right for us, and right for all.

In summary, there are many downsides to joining the wrong networking group which is why finding the right networking group is so important.  After all, it makes sense to maximize our time and money.  If you’re interested in seeing if We&Co is a right fit for your business, read on!

About We&Co and The We&Co Huddles

We&Co is a professional co-oping & professional networking business that was founded in Springfield, Missouri in 2020.  While there are many professional networking groups in and around the United States, We&Co focuses on creating small industry-specific groups with five to ten professionals who all have the same target audience but offer different products and services.

In essence, professionals come to us when they want to save time while making more money.  These industry-specific groups are essential pods of professionals surrounded by their ideal referral partners.

These small groups of referral partners (called “Huddles”) meet up twice a month for an hour and talk strategy on how to become that one-stop-shop for their clients.  If you are a professional who is interested in joining or launching your own We&Co co-op (or “Huddle” as we like to call them), feel free to shoot us an email at info@weandco.org and a representative will get back to you shortly!