Breakfast club networking

[hippy-chick]

a friend came in for her 2nd hopi ear candle treatment today, she is running a very successful biz but deciding to go it alone, and has joined a breakfast club and has invited me along (I can go twice for free).

the rules are you have to commit to attending every week (one day) at 7am, you pay £9 for your breakfast plus a joining fee which is nearly £600 for the year.

You get a couple of minutes to stand up, introduce yourself and what YOU WANT to get out of the networking, ie what type of business you are looking for (are you allowed to ask for only men with 6-packs!!!!).

You then hand your biz cards out to everyone and they will then refer people to you.

She said that they only allow one person from each profession, and so far there is an accountant, builder, solicitor, landscape gardner, etc, etc, one person does the bowen technique but no holistic therapists.

She's offered to take me twice as her guest and then I still get to stand up and talk and hand biz cards out.

Just don't know if anyone else has done it, but its def a scratch-my-back scenario.

 

[pure]

Well tbh my initial response is that £600 is very expensive to have 2 mins talk time and hand out a few cards!

You would probably get more contacts by standing on the street corner and handing them out for no cost at all.

Who does the £600 go to? And what is it for?

 

[hippy-chick]

hi Debs,
you meet up every week and their are always new people.

the aim of the group is that you network with each other, so basically what you do is refer people to you. that person is not only recommending you but acting as a guarantor for your professionalism.

its a group of business people that will help promote each other.

So, my friend will recommend an accountant that she has met through the networking, etc.

the money is to keep it exclusive so that you haven't got everybody wanting to join, bit like a club, but don't think they do handshakes or masonic stuff!!!

 

[pazzy]

One of my clients dad keeps on asking me to go to a breakfast club...

And I just dont fancy talking about myself and getting really embarrassed - I dont need the work that much...and 7am - what are they nuts???

But any sort of networking is bound to bring in new contacts and new business - so its not a bad idea - just not for me.

 

[soriminah]

Good idea but I'm still confused as to the fee and the whole concept in general. If it's to keep it exclusive then who's pocketing the money - the person who started it? Or do they do advertising for the group with the money? What else do you get for your money apart from meeting other business people?
I don't want to sound negative but it sounds like an awful lot of money to hand out a few business cards for referrals from other people especially if they haven't used your product or service. Personally I would never refer someone to a business I've never had first hand experience with because if the person you refer has a bad experience than that can make you look bad for the reference - hope I made that clear.

 

[loubylou]

I would take her up on her offer of going twice for free and hand out your cards but i can say that i wouldnt be parting with £600 to go again

 

[pure]

Who does the £600 go to? And what is it for?

For me this is the key question.

 

[hippy-chick]

I think the majority of the money/fee goes to the hire of the room, as in 52 weeks rent.
The organisor will get some for admin, etc.

 

[oey]

I know what my new profession is going to be - setting up a breakfast club so each member can pay me £600 per year.

I would prefer to spend this £50 per month on advertising for new clients.

 

[hippy-chick]

he he,

I don't intend signing up for it, but would be up for goin along for my 2 freebies. I couldn't commit to attending every week at that time of the am, got son to think of.

 

[Zo Zo]

I have some experience of this type of thing....

When I started up, I went along as a guest twice, and I also got asked to 'sub' for 3 other members, so I actually went along a total of five times.

This type of networking is highly organised, and the leads passed between members are recorded to prove its effectiveness, and there is 'training' to enhance one's business skills etc and can work really well for some types of businesses however, I decided it was not for me because -

It is compulsory that you attend each week (if you are on holiday for have to get someone to sub for you, i.e. stand in for you)
It's expensive
It's a very male dominated environment
It's way too early in the morning

With regard to the cost, I would say for some types of business it is very worthwhile, for example, I sat next to a flooring guy one week and he had just won a contract worth about £20k, through the network. But if you are doing nails, you are more likely to get referrals worth £20 - £40, if you get any at all.

I am however, just about to sign up to a ladies networking group, that meets 10 times per year, that's once a month with the exception of Aug and Dec, and they meet for lunch 12 - 2, much more civilised

 

[hippy-chick]

thanks zo zo

when you went 5 times, did you get any referrals at all?

 

[oey]

I am however, just about to sign up to a ladies networking group, that meets 10 times per year, that's once a month with the exception of Aug and Dec, and they meet for lunch 12 - 2, much more civilised

Zo zo - hope you dont mind me asking how much have you had to commit financially to this ladies networking group?

 

[pazzy]

I think an all ladies type networking sounds much better...after all they are they are our target market,

Once they meet you - they will remember you more than just a business card.

 

[nailzoo]

do they promise to play re-runs of "the secret" after bacon and eggs?
someone is making quite a bit of money out of this......

 

[julesgems]

Hi

My hubby went along to one of these breakfast clubs - cost was going to be £900.00 per year. He has a carpet & upholstery cleaning business. He decided not to join and instead has put more money into advertising.

It's a lot of money you're paying out if you don't know where its going (apart from breakfast of course!).