Is networking a waste of my time?

I spend a lot of my work week and even some of my evenings attending networking events. I justify this time away from my office and family because I am building relationships that could result in business. Some of these events are so much fun I sometimes feel guilty because it doesn’t even seem like I’m working. Other times, it is a task that I am just checking off the to-do list. Many times, I ask myself, “Is this worth my time, or am I just wasting time and money?”

Recently, I was attending my weekly sales training class, and the instructor asked us to write down our most important business relationships. By “important,” he meant most profitable. I wrote down my list of around ten names who were people I communicated with on a regular basis. This list included people whom I consider to be my closest referral partners, and many have become close, personal friends, too.

After I compiled my list, the instructor asked us to write down how we met them. I carefully wrote down how I met each of the people on my list. I was shocked when I read back over my list. As I scanned it, I saw a pattern. A pattern that surprised me. Most of the people on my list I first met at a chamber event. 

This revelation was shocking to me because I never took the time before to consider where my best relationships were first made. I have always wondered where the best place for me to spend my time is. I would often try different events to see which ones I enjoyed or where I met new and interesting people. I really didn’t have an algorithm to tell me where I should spend my time, and for me, it was just guessing. I would ask myself questions like, did I like the event, was it convenient to my office or where I live, are there people who attend I’ve never met, or do I already know everyone there? It never occurred to me to just make a simple list.

With this new information in hand, I now knew where my time and efforts should go. My company was already a member of two chambers, so I found their calendars and started prioritizing their events on my calendar. Instead of hoping it works and running myself ragged around the metro, now I’m networking with intention because I know I am in the right place. No more guessing which events to attend. 

I’m still a member of a networking group. I do find my membership to be a value of my investment of time and money. In addition to this group, I spend my other networking time at my local chamber events. Occasionally, I will throw in a special event that is not affiliated with the networking group or the chamber. It’s fun to mix it up occasionally, but most of my time is spent where I know I’m getting the most bang for my buck and time. 

Which networking event is the best investment of your time and money? If you’re not sure or want to check yourself, take some time to write down your list of referral sources and see where you first met them. Do you see a pattern like I did, and if so, what is it? I’d love to hear about the results of your list and where is your favorite place to network!