Enough with the Business Card Shuffle

Yesterday there was a great post on a local business news website (http://www.richmondbizsense.com/2009/11/20/guest-opinion-enough-with-the-business-card-shuffle/) and it generated the most comments I have seen on this site.

The gist of the article and ensuing discussion wrapped around frustration with the typical forms of networking being nothing more than an exchange of business cards and nothing deeper and more meaningful to develop an entrepreneur. And as the CEO/Executive Director of BNI (Business Network Int'l.) in Central VA and the Managing Editor of The Business Networker, I'd love to chime in on this topic - since I believe the author of this post is absolutely right.  Largely because most people define networking as "selling" (which it is not) and the true definition of networking is "connecting."

The comments following the post above ranged from networking is a waste of time to the internet (eg. social media) is replacing face-to-face networking. My comment is that it is not possible to find one group that fulfills both areas of business development and entrepreneur development - as they are very distinct arenas.

I've started a dozen companies over the past 20 years and I have yet to find a group that truly fills both needs at the level of excellence that I would like.  BNI is the local & world leader when it comes to structured, referral-based marketing (eg. networking); and BNI has also enabled me to develop many 'advisory' level relationships.  On the entrepreneur development side of the house, I have found mastermind groups or mentors to be most beneficial to me.  It's been my experience that successful people like to help/mentor those who will listen to their advice.

Dave Ingram (CEO of Capital TechSearch and Author of 15 Bedtime Stories That Keep Entrepreneurs Awake at Night - http://www.15bedtimestories.com/) is developing a group to leverage seasoned business advisors that may kick the entrepreneur development up a notch - email him at Chris@capitaltechsearch.com to learn more.

And while the focus of BNI is on building relationships to foster business development, it is very often an unintended consequence that entrepreneurial development is also created (similar to improved public speaking skills that come out of being in BNI) because more than 75% of BNI members are small business owners.  Since BNI'ers are a very giving group of people, the most successful groups also help eachother on the personal/professional development front - and they are in the trenches everyday as well.

I would also suggest that there are plenty of groups for budding entrepreneurs that may also be beneficial that have a mastermind group format - not to mention any one of a number of business coaches who can help provide some guidance.  A great resource is also Karyn Greenstreet down in NC who is an expert in the area of mastermind groups.

Or there's the idea of creating your own Advisory Board ... or the many local trade organizations that have structured mentoring programs as a part of their offerings ... or SCORE has many services for small businesses ... or Rotary is a great place to explore. And when your business starts to really takeoff (eg. $3M plus in revenue), I would recommend checking-out Vistage or the VA Council of CEOs.

Bottom line is that I look at these areas like medical professionals - when I need the best, I go to a specialist that is the best in his/her field (usually on the referral from my family physician).  I look at my business the same way ... BNI is the undisputed global leader in referral-based business development (my specialist in that area) ... I'm an active participant in a small business mastermind group (my specialist in that area) ... and I have have a business coach that is an expert in my business (my specialist in that area).  No one group can be a specialist in all of the areas critical to my success - so I seek the best in each area.  Surround yourself with the best of the best - any group out there that touts it can do it all is going to end up being a generalist vs. a specialist.  My thoughts for you to consider.