Speed networking that is! From a fun standpoint, this is one of my favorite types of networking venues. It’s based on the format of speed dating (talk about fun!). I used to facilitate and run these speed-networking events. And even that was fun! Speed networking groups and those that organize them are very selective about the people who sign up for their events. Everyone at the event is prescreened to insure that they’re in different professions. They don’t want to have 14 financial advisors attending; that would defeat the purpose. But imagine attending a speed networking event as a financial advisor and connecting with a CPA, estate planning attorney, and banker who understood (like you) the value of giving? Now that’s not a bad blind date.

There are usually 20 to 22 participants. If there are more attendees, they will be split into two groups.  You start off face to face, nose to nose, belly to belly with somebody. A bell rings, and you have five minutes to spend with each person—that’s two and a half minutes each—to talk about who you are, what you do and with whom, to collaborate, and if you can help one another. You are not pitching people on your services. You’re pitching them on what you do and with whom you are looking to work. If there is a great connection there, you exchange cards. After the five minutes are up, the bell sounds, and the inside row circles to the right. Now you are face-to-face with somebody else. And so it goes.

Within an hour and a half, you have connected with 13 to 15 people. Sometimes food and cocktails are served. The time flies by, and it is a lot of fun, but by the end of the event, you are exhausted because you are “on” each time you meet a new person. It’s like you’re doing 15 takes of the same commercial. (Remember the movie Groundhog Day?) But you can walk away with 15 business cards which can equate to 15 follow ups, meetings, conversations, and who knows how many prospects. Beats cold calling!

Speed networking events are a missed opportunity for a lot of networkers, and certainly for plenty of financial advisors. Again, it’s an untapped resource. You meet a lot of people, and you never know where it’s going to lead you. You could end up with a date!