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Prospecting and networking are two different things. Agents confuse them, and it kills both their business and their social life.
I've been in BNI for 3yrs. IMO, they are certainly the best true networking group to join because its structured. Overall its been very profitable for me. To join is $650 the first yr, and to renew is $475/yr. Its certainly a commitment, but imo it can definitely be worth it. I've made 30x my cost to be a member this year already. Meeting time vary greatly really based on where the group meets. Most are in the morning hours, ours is 8:45-10am every Tues. I don't do FE, that probably wouldn't be as profitable as a being in a financial advisor or insurance agent position with BNI. The real value to me with BNI is the relationships and getting my name and brand out there.I found that the groups i went to were folks just looking to social and were lonely. LOL. They had no intention of buying anything. A lot of MLM scams etc..... BNI is probably the most professional group for networking but you have to get up at 7:30 am and you have to pay $700 or $800 a year... that money could be used more wisely for the amount of time you would have to schmooze to get any headway. Its better to buy leads and see strangers and move on..... better ROI for what we do. Just my opinion. I talk to the FE Cowboys that are slangin and bangin and rackin and stackin and going on every carrier trip known to mankind and non are in these networking groups... none
Of course they expect you to refer folks.... that's the reason for the group. And if you plan to be a giver of referrals you will get them in return. Some folks come in with a goal of getting referrals only or trying to sell the group, vs become a solid referral partner of the group. I've never tried to sell my group, its a plus if anyone in the group can use your services and if they get to know you and trust you they will use you - and they have.The thing about networking groups is: the other members there have the expectation that you are going to refer clients to them, as well as they to you.
I've always found it very difficult to truly come up with any prospects for the fellow members, and therefore didn't feel like I was being an authentic contributor to the group.
Your mileage may certainly vary. If you can actually deliver on your end of the bargain then it can be great. It can also be a great social outlet depending on the makeup of the members. I used to be very involved in the Chamber of Commerce and I found it a lot of fun and made great connections.
Other networking groups- not so much.