Are You Getting Swindled at Networking Meetings?

If you are a business owner, entrepreneur, employee, or on a job search, you have likely attended a networking meeting. These mostly-casual events are great opportunities to meet your peers and build business relationships.

When I started my business in 2009, it fast became obvious that I needed to network. Not only did I need this to build my brand, I needed these events to step out of my comfort zone. In the nine years since, networking has provided a tremendous boost to my brand and taught me how to manage with my introvert tendencies. And while networking is highly effective—for the long haul—what isn’t covered is how to avoid getting swindled by other networkers. So get comfy and read the real-life, dark-side of my networking experiences and how to deal them.

The promise of recognition

At a recent networking meeting, I met up with someone I’ve known for a few years. Let’s call him, “Bob”. He approached me, asked what was new with my business, gave me a moment to answer, and then mentioned all the clients and projects he had in his pipeline. During this time he tossed out envious phrases such as “long-term retainer clients”, “5-figure referrals”, and “6-figure year end profits”. (Sounds like he has money, right?)

Then Bob mentioned he needed my services. Hooray! “Great,” I said, “Let’s discuss your project following the meeting so we can focus on your business and writing needs.”

Bob’s body language immediately changed. His eyes glossed over. His jaw dropped ever-so-slightly. A crease formed in his brow. He hemmed and hawed a bit before stating, “We can do that, but I’m hoping you’ll join our committee and like all the other committee members, donate your services. In return, you’ll get listed on the website as a partner.”

Solution: graciously thank your “Bob” for the offer, but state your basic program costs $XYZ. Mention that you can get started right away to ensure completion within his timeframe. Note: your “Bob” will turn you down so thank him and move on. Beware of other high stakes offers. This includes a clip to add to your portfolio, the promise of a “generous” commission when a high-ticket item is sold, or even a share in company stock.

Exaggerated success

Most people at networking meetings are just starting out, seeking a job, or are looking to expand their services. If what an attendee says sound too good to be true…then be wary. If a networker is truly sounding 6-figure successful, why is he trolling around a small, local meetup filled with hopeful entrepreneurs? Okay—this may make sense, a little bit. The business big-wig seeks fresh ideas and enthusiasm (and at this networking level, attendees definitely have both). However, be aware of those who feed off the desperation hidden just below the surface.

Solution: While you may be anxious for income, avoid undervaluing yourself. Know with certainty and confidence what you have to offer, the pricing for your services, and your processes. This tends to move the exaggerators on.

Brain-pickers

Networking meetings are full of highly knowledgeable people, eager to share their expertise—for pay. However, these events are also full of people who need your services and will do everything they can to get what they need from you—for free. They’ll express an interest in your services. They’ll ask about pricing and your process. They’ll say all the right things to get you excited. Then one or both of you will suggest an outside one-on-one meeting. This is where it gets dicey. At this stage, you are primarily getting information on their service needs and if you are a good fit for one another. The brain-picker will give herself away by cleverly asking for the secret recipe to your business.

Solution: Arrange the meeting by phone. That way you save time, gas money, and you won’t be a captive. Limit chats to 15 minutes. Near the conclusion of the call, offer a service package and then count the seconds as the brain-picker attempts an alternative approach. Remind her of your package and politely say farewell.

Membership networking groups

Beware the networking organizations that get fee-crazy. There are networking organizations that require a yearly fee, a monthly fee, and a meal feel. Additionally, some organizations require strict attendance, visitor requirements, and active referrals.

Memberships and cliques: If you find an organization that sparks your interest, then check it out. Beware, however, that these groups are very cliquey and unless you pay your membership and donate your time and talent, you won’t see a return on your investment.

Solution: These organizations typically allow one free visit. Go. Talk with members. If possible, talk with previous members. Get both sides of the story then make your decision.

The uneven barter

Barter is helpful during the early stage of business, but watch for those that skew the process in their favor. Another experience I had went as followed.

“Kristen, I like your business and concept and would like to collaborate with you. Are you interested?”

“What ideas do you have?” I ask.

“Have you ever worked with a business coach?”

“Yes, mostly through the SBA and SCORE programs.”

He dismisses them with a wave of his hand. “They are good but you need a real business coach. I’d like you to hire me as your business coach—at a 10% reduced cost—since I know and like you. Then I’d like you to write copy for my coaching programs that will build your portfolio, at no cost, during our coaching program which is 52 weeks long.”

He continued to sing the benefits of this “partnership” but I declined.

Solution: Avoid laughing in his or her face, decline, and don’t look back.

The legal fanatic

Let’s say a successful networking experience and follow up has developed a decent relationship. After some time, this person reaches out to you with a genuine request for work. Hooray! Until she requests a non-disclosure agreement, a contract that YOU PROVIDE, and a dedicated unit of time of free work to “make sure you are a fit”.

Solution: Leave the scene immediately. Spare yourself the terror of working with someone like this. And cross that person off your list.

Final notes

Networking meetings are a starting point. This is where you introduce your brand, identify your target market, build relationships, and connect. These meetings are also great opportunities to initiate your market research.

Explore the networking events in your area. Connect with people you meet, follow them and follow up. The focus is building a trusting, professional relationship. Then, with patience and persistence, your efforts will result in clients and referrals without the defeated feeling of being duped!

Kristen Edens

Image courtesy of Sira Anamwong at FreeDigitalPhotos.net