Algorithm Newsletter
The Art of Networking: Part 1
I get questions all the time about networking. What groups are worth it? Which is the best? How much money should I expect to return from my networking investment? Is it all just a waste of time? What do I do when I am in them?
This is Part 1 of a journey we are taking together for the next three weeks talking about networking.
The Hickory Algorithm is a podcast and community hub dedicated to celebrating the stories, culture, and businesses that make Hickory, North Carolina - my favorite. Each Newsletter spotlights solutions, experiences, and a different perspective to help you, the small business owner with insights, inspiration and strategies for personal and professional growth.
Ever wonder if joining a networking group could unlock new opportunities for your business? With so many options available - like the Chamber of Commerce, BNI, or smaller local groups it’s important to find the one that fits your goals and style. This week we discuss The Art of Networking Part 1: Group Options.
🧐 What are Networking Groups?
At their heart, networking groups are organized communities where professionals come together to build relationships and grow their businesses. Whether you’re a solo entrepreneur, a small business owner, or part of a larger company, sales representative, networking groups provide structured opportunities to connect with fellow like-minded individuals who can help you reach your goals.
These groups can vary widely in purpose and format, but they all aim to foster meaningful connections. Some are focused on generating direct business referrals, while others emphasize education, mentorship, or to simply expanding your social circle.
Every Networking group has its own flavor but for the most part fall into one of these three categories.
📍Leads Groups - focus on direct business referrals
📍Community Groups-broader engagement and relationship building
📍Specialized Groups - industry specific or skill focused groups
Finding what is best for you may not be the best for someone else. As we progress thru you will see that “that’s not for me” or “that’s what I want” are what we are trying to figure out. These are good feelings to have. So, lets dive into this.
🧐 What is out there?
A lot. Like a lot. Shifting through the many groups in our area and finding which one is for you is quite a task. . So what is out there for networking?
Multiple Chamber of Commerce, in our surrounding areas. Catawba, Burke, and Caldwell all sit pretty close to our area and there are a couple business owners that go to all of them. Each Chamber has its own personality and flavors.
BNI, a national networking group that focuses on a formal structure.
HYP = Hickory Young Professionals, is a group aging from 21-40.
Networking groups can meet monthly, weekly, and have set times or kick back to socialize. Keep an eye out for on Facebook Events.
Below I break down each of the main 5 questions (Leads groups, Exclusivity, Cost, Events, and systems) I get asked when someone asks about networking groups in our area.
💪 = Strength of this program
⚠️= Weakness of this program
📍The Chamber of Commerce for Catawba Valley
Type: Community group.
Leads Groups - Every Tuesday, Wednesday, and Friday are when those groups but meet at different locations and different times.
Exclusivity- Each lead group allows one industry specific member, so for example, if you are a realtor and there is a realtor in that leads group than you cannot regularly attend.
Cost - Entry level to partner with Chamber is 400$ for a year and can climb based off the program that fits you. Costs link ➡️ Join the Chamber
💪 Events - First Friday Morning Brew is a networking juggernaut. Every month on the first Friday, the chamber will have an event sponsored by members of the chamber. 10 times a year this event happens and has a great turnout. Ribbon cuttings are another great way to network to new businesses.
February Friday Morning Brew Event Page ⬅️ Link
💪 Systems - A little of everything and a lot of what you may want. Chamber does an excellent job with veterans, community outreach with ribbon cuttings, Ambassador program, Friday brew, leads groups, social media presence are very good.
Is it worth it?
That’s for you to decide.
In its heart of hearts the local chambers are community groups that have many functions like leads groups, events, and great socializing avenues. Referrals are hard to come by sometimes because of the amount of partners in the chamber may cause an overlap looking from the outside in, when it comes to a leads group you want to be a part of.
The systems and events that the Chambers offer are second to none. Friday morning brew, can feel like you’re collecting baseball cards, not business cards, and leave you feeling a little bit like, it’s over already? Every minute counts when it comes to networking in such a large group of people. It can be daunting sometimes especially if you arrive a couple minutes late. I hear this a lot and they are right but in the grand scheme of the Friday Morning Brew, I wouldn’t miss it. Worst case you WILL see someone you haven’t seen in a month. Friday Brew is penned into my schedule every month.
Conclusion
I didn’t forget to add a ⚠️ weakness to the Chambers. The Chambers are an excellent starting point for any non trades businesses. Whether you are realtor, masseuse, marketing, sales person, painting, physical therapist, or just want to get around like minded people. The money investment may not return itself in the first year regardless of which entry point you fit into but, a great place to start dipping your toes into networking.
Type: Specialty Group
⚠️ Leads Groups - none.
Exclusivity- Ages 21-40 Group.
💪Cost - 60$ a year (last time I checked)
Events - Once a month events that have different locations can be found on Facebook. With their year highlighting with a Leadership Convention.
A Look at one of their event from this past Thursday
Systems - Remember when I said The Chamber has many systems? This is one. Not a lot of moving parts with HKY which can be good, or bad, depending on what you are looking for.
Is it worth it?
That’s for you to decide.
I am aged out of the group 🤣! The reason this isn’t just another division of the chamber listed above because even though, it is closely affiliated with the chamber but, mostly because the Hickory Young Professionals deserves their own mention when it comes to networking.
The times I went to one of their monthly events I found myself laughing, meeting people I wouldn’t have met otherwise, and a very good group that focuses on education.
Conclusion
HYP is a great networking group for young business owners. Fun group of people that prioritize seeing new people show up to their events. They do a great job making you feel welcomed. The focus on education with Lunch and Learns events around the area are worth checking out.
Type: Leads Group
💪 Leads Groups - Every meeting is a leads meeting.
Exclusivity- Only one of each industry, ensuring no overlap in group.
⚠️Cost - 1250$ a year
⚠️Events - BNI has events and since their corporate home office is in Charlotte, NC you can go to these larger networking events. Each BNI group has their own power team meetings and in charge of group growth.
Systems - Oh boy. BNI sits on a spreadsheet, the spreadsheet is shown every meeting. That spread sheet/score card is called the Power of One which tallies points from the one to one meetings you have with fellow members, bringing visitors, referrals given to fellow members, and members you got to join BNI. The Power of One shows which members that are most active and doing the system in BNI.
Is it worth it?
That’s for you to decide.
An international company that allows you to have zoom meetings from across the world. Their technology allows you to see the members in all other BNI groups and read their profiles. A great resource if you like help others.
You cannot join just to go to random groups. You can, but, you must have a home group. Attendance is required, rent to the building you meet at is NOT included so be ready to add another 40-100 bucks every month or two.
Conclusion
BNI can be an excellent way to network. I would recommend visiting one, it doesn’t cost anything to visit. After 2 visits, I believe, you have to start giving Ivan Miznor some cash and boy is it a nice sum. The common problem I hear is the mandatory weekly attendance. You are required to be there every week. It can feel redundant. The room is scripted and each meeting is the same. Which can lead to the room feeling stale and if a couple members are not dedicated to making the room grow each meeting can feel like you are wasting your time. BNI can also get heavily weighed down with sales reps. The Power of One report can be quickly discredited by the room causing even more stagnation.
BNI is awesome for trades but even more so for a realtor, mortgage broker, and insurance agents. Creating a beautiful business sphere ⃝ so as one person makes money in the group that can benefit the others. Realtor sells a house well, here is an insurance agent, and well of course you need a mortgage.
You can also create your own BNI group if there isn’t one that has a seat available for your industry.
Type: Leads Group
Leads Groups - Every meeting is a leads meeting.
Exclusivity- Only one of each industry, ensuring no overlap in group.
Cost - 400$ a year
⚠️Events - Unifour doesn't have a huge presence on Facebook with no events scheduled. The group does support each other’s events regularly but not a lot of outside of their room events.
Systems - Think of BNI but, breaking away and doing their own thing. Referrals are passed around the table and meeting is structured very similar to a BNI meeting. 60 seconds around the room, presenter every meeting, but with no corporate interference as to how you do things.
Is it worth it?
That’s for you to decide.
Unifour is structured as a BNI meeting. 60 seconds around the room. Referrals, are passed around with acknowledging of whom they are for telling you exactly which members are passing referrals.
The group has been together for quite sometime. Everyone is welcoming and I would recommend reaching out to President: Dustin Pitts to visit the Unifour Business Network. Their group meets at LifePoint Church Hickory. 2123 5th St NE, Hickory NC 28601 every Tuesday morning at 8:15. Rumor is there is a light Chic Fil A breakfast next week, just sayin.
Conclusion
It's hard to pick a solid 💪 with Unifour Business Network because they do everything above the line. This is a great start for joining a more structured leads group with 1/3 of the price a corporate entity in BNI. It’s formal enough with attendance but not being removed and keeping your money after two non visits. If you are starting out or want to dive in a little deeper and ready to try something for networking. This is a very welcoming group of networkers that show up to each other’s events.
What are your goals? What’s your schedule like? What is your budget? What’s your preferred style? All these questions YOU need to answer when looking for a networking home base. It’s YOUR networking journey.
We talked about having systems last week when discussing scheduling. Rooms are another important factor in your business. The rooms we include ourselves in are so import. The Rooms we put ourselves in is something I plan to dive deep into in the near future. If you feel a room isn’t a good fit for you then do not be afraid to move on from that group. You are paying the money so if you feel its not worth the time or money than don’t hesitate because its your business. Surround yourself with people that are trying as much as you are trying to get others business.
The large problem is a lot of networking groups feel very stagnate. Every week feels the same and if the group isn’t trying to bring in new people and make the room better than networking is going to feel just like that. Stagnate.
Many events can be found online featuring other networking opportunities and they should not be ignored. Don’t be afraid to leave your comfort zone a little to find the right fit for you.
“Networking is like the gym, the hardest part is walking through the door.”
Next week, we dial into Part 2 of the Art of Networking with Building Bridges which focuses on what to look for when building relationships, what on earth to do when at the networking event, and how to overcome the anxiety of going to a unfamiliar networking event. I hope, you found Part 1 of the Art of Networking to be helpful.
🚨Audio Pod 🚨
Link to the Weekly YouTube Audio Show ⬅️
#For #The #love #of #the #game this week for the Hickory Algorithm. We talk more about the Art of Networking, this newsletter, Strong Student Leadership program, and what I got my middle son for his birthday this weekend.
📆 Save the Dates! Well if you aren’t busy 📆
Events the Algorithm will be doing this month:
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New YouTube Music Playlist for the first of the year?
I grew up in the 90s, we burned cds and made playlist. It’s always a thing.
This playlist is gonna get a good run this month while cooking dinner.
Headspace - Playlist on YouTube Music <~~~~~ LINK
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