A few days ago I went to breakfast networking meeting. It is several months since I last went to one and I wondered how I used to get up every week at such an unearthly hour to get to my breakfast networking group. I now seem to have a job staying awake if I have to get up at crack of dawn or even before.
Just the same I have a long history of breakfast networking. Nearly a decade ago when I first started out with my own business I joined BNI. There were very few breakfast networking groups then.
I enjoyed BNI and although in my sort of business I didn’t get dozens of referrals unlike the florist who benefited from the “desperation referrals”, I did pick up some useful business, and most importantly one great referral which kept my wife and me out of the poor house.
BNI was good for me. Most of the members were fairly new business owners, but one of the important rules was that we were supposed to refer a particular type of business to a member of BNI rather than a business owner we knew elsewhere. We were not supposed to belong to any “rival” group. There was also some quality control via the membership committee in that they followed up on referrals and made sure that if we got business we delivered the best service we could. I am sure we did in the group, being mindful of our own reputations.
Being a member of BNI was not cheap in terms of upfront outlay. With joining fees, annual membership and the meeting costs including breakfasts we paid out about £1,400 (S2,200 in today’s money) or so in our first year and £1,000 annually thereafter. It was worth it though in terms of business.
Falling from grace
I enjoyed BNI while it lasted for me. However even an easy-going chap like me ultimately fell out with the franchise owner. Never mind.
In more recent years I enjoyed other breakfast groups. I have been a serial (not cereal) breakfast networker. I even ran a group for a while, but nowadays there are so many groups meeting at 7 or 8 o’clock in the morning. Unlike the group I ran, most are not run on the BNI principle of exclusivity where there is only one of each type of business in the same group.
There are also many “free” groups which do not even have formal membership. This means that people tend to belong to a number of groups and are torn between members of different ones when it comes to referrals. Maybe they are so confused they never give any and forget the important tenet of networking, which is helping others.
In my most recent breakfast networking I did not find it very profitable. I met some nice people, but because of the sheer number of groups and divided loyalties, I think the age of profitable breakfast networking is over. Except maybe for those who swallow hard and stump up for BNI.
I would love to know what your experience is as a current or former breakfast networker? Does it still work for you?