Networking groups can offer valuable help

Effective networking is a powerful way to grow virtually any business.

You can build relationships on your own, join a networking group or a chamber of commerce. Being a member of a group provides efficiencies and economies of scale you cannot duplicate on your own.

Tucson boasts a plethora of networking opportunities, but which group will produce the greatest return on your networking investment?

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SCORE asked Melissa Ross, operations manager at Tucson Business Club, a local networking group, for some insight. Here is what we learned:

• When comparing various networking options, you cannot determine the group’s value by its size or cost. Many of the smaller, less expensive groups will outperform larger, more expensive ones.
• The value of a networking option cannot be determined based on the professional level of the members. A large group of executive-level decision-makers may not generate as much value as a small group of midlevel employees.
• The true value of a networking group comes from the ability of its members to leverage their connections outside the group, and use those connections to create opportunities for each other.
• That is why a room full of well-connected, lower-level employees with strong referral skills will generate more business than a room full of CEOs who are not as skilled at creating opportunities. This also explains why a low-priced group can outperform a very expensive group, and why a small group can easily run circles around a large group.
• When you join the right group, it will generate streams of business and opportunities that cannot be duplicated with most other forms of marketing. People trust recommendations from people they know.
• When you join the right group for your business, you will see higher closure rates, lower client-acquisition costs, higher profit margins and exponential growth.
• Join more than one group. By joining more than one group, you connect with more people who will promote your business. The more people who know about you and refer business to you, the better.