Does your networking work?
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Actually I think this is a very inquisitive question if you base your answer on R.O.I.
I think many of us look at "Networking" as an activity that's ambiguous at best, when as entrepreneurs we should look at the exercise in a more tangible financially economic way. If you think about the cost of travel to the event, parking, possibly an entry fee, and if there's a possibility to pay for a booth...what would be your Return on Investment after the event?
While I actually enjoy meeting new people (potential clients) in my line of work, I'm always saying to myself "My time costs me money, how much am I going to get out of this event"?
As business people R.O.I. is critical, and every activity (e.g. Networking events) should be considered costs and determining your profit margin will tell you if your participation was worth it.
Thank you so much for the post!
Great points! Think about what you are willing to put in (not just money) as well. Like reaching out to the new person or inviting attendees to coffee, for a tour of your office, etc.
Absolutely Elizabeth!