Why Running Business Networking Events Is Perilous

You too may be thinking of running your own events – perhaps you think you can do a better job than those currently on offer or think it is a great way of avoiding costly membership fees. However think carefully before you jump in…here are some of the downsides you could encounter which will only serve to add you to thousands of networking non-starters already out there.

Too many people underestimate the costs of setting up, marketing and running events…and yes costs are involved. Soon you will find that the $500 dollars investment in a membership fee pales into insignificance against the lost revenue from your efforts in organising your own event.

Unless you are just running an occasional very low key informal event, organising networking events effectively can be hard work, especially if all the things that matter are in place i.e. events sufficiently well attended (which rarely happens without time and money spent on marketing) - most events that I have seen fail have been down to the organisers underestimating the work that goes into just getting people through the door.

Time also is taken up with the important details such as putting together up to date attendance lists, printing name badges, sending out reminders and confirmations to guests, booking and briefing the venue (and speakers if used) and ensuring people are in place and briefed to ensure the event runs smoothly on the day.

One of the biggest problem is people saying they will turn up for an event and then not, leaving bills for pre-booked refreshments still having to be paid for and the other guests disappointed with the low turnout. One way to avoid this problem is to have a system for pre-booking and pre-paying (which can be effectively done on-line) but of course requires an investment to set this up.

Many people run networking events alongside another business or two only to find that the work involved in running groups takes their time away from their main business. Also if you are involved in the detail of organising an event on the day you may find you have little time left to network yourself. Those people I have known to be most successful at running networking businesses have had this as their primary business and have tended to manage the events rather than get overly involved in the detail of running them.

Business networking is becoming increasingly competitive with ‘professionals’ maintaining the competitive edge. If you are thinking of ‘just playing’ with it then forget it. Your own reputation is at stake, and if your events are not a success then consider what this will do to your reputation.

Of course there are benefits to running your own events but you need to weigh up these against the hard work, time, money and commitment you will need to invest and if you do decide it is for you ensure that you take your time to learn how to do it successfully.

About the author

Louise Yates provides free advice on running successful business networking events and getting the most out of business networking events. Louise is also a trained business coach UK.