Networking groups can be a powerful tool for growing your business—but sometimes, the group you've relied on may no longer meet your needs. Here are a few reasons why you might find yourself outgrowing your current networking group:
High Member Turnover: If 45 to 50% of the group turns over annually, it's hard to form deep, trusting relationships that lead to meaningful referrals. Look for a group with better retention, and recognize that if members are leaving, there is likely a reason why—maybe the value just isn't there!
Annual Turnover in Leadership: Frequent changes in leadership can disrupt consistency and focus, making it difficult to build momentum and achieve group goals. The "next man/woman up" approach may not be the best practice for running effective networking meetings.
Lack of Accountability: A successful networking group holds members accountable for participation, follow-through, and results. Not every person in charge is comfortable leading and may apply the rules inconsistently. This can lead to problems across the group.
Outdated Practices: If the group hasn't updated its agendas or strategies, you may find it no longer aligns with modern business needs. Let's face it—running a business today is dramatically different from 40 years ago. Shouldn't your network evolve too?
Limited Networking: A group that does not encourage you to build the largest network possible may be limiting your opportunities for meaningful connections. Make sure your networking group embraces the same "abundance mentality" that most business owners need to thrive.
Stagnant Growth: Groups that aren't actively recruiting high-quality members may plateau, leaving you with fewer opportunities to grow your business. Ensure your group has a plan to bring in the members you need to make networking worth your time.
Too Much Focus on Quantity, Not Quality: Groups that prioritize the number of new members over engagement and meaningful connections may not deliver the value you need.
Inconsistent Attendance: Low attendance can diminish the energy and opportunities available at each meeting. If attendance isn't enforced, it affects your results. Consider joining a group where members are excited about the next meeting and its agenda.
Lack of Clear ROI: If you're investing time and money without seeing a return, it may be time to reconsider. ROI is not just about the fees charged; it's equally important to measure the time invested as a hard cost.
Changing Business Needs: As your business grows, you may need a networking group that matches your current goals and ambitions. Don't be afraid to try something new and explore your options. Any reputable networking group should let you "Try Before You Buy" and experience what they offer. If not, you might wonder what they're hiding!
Outgrowing a networking group isn't failure—it's growth! Evaluate your needs and find a group that aligns with your vision. At Network In Action, every business has an opportunity to try us out before deciding. We are proud of our "Try Before You Buy" offer, and typically, over 75% of our guests end up joining NIA. With our guaranteed ROI on every dollar you spend, you can count on NIA franchise owners to keep meetings fresh, membership growing, and networking efficient—all with once-a-month gatherings!