Tweak Your Biz
How to Host a Successful Networking Event - Tweak Your Biz

Home » Growth » How to Host a Successful Networking Event

How to Host a Successful Networking Event

After over 30 years as a business owner, I’ve learned how crucial networking is for growing a company. If you host a successful networking event, you can gain customers and authority in your industry. But, hosting an event isn’t easy.

My second startup, Top Echelon, was built around recruiter networking. The problem was, I was losing recruiters just as fast as I was pulling them in. To build a steady customer base, I needed to earn the trust of my potential clients.

One veteran recruiter suggested I host a convention. To show my business idea, I had to get a large group of recruiters under the same roof. A networking convention would offer the opportunity to build relationships with potential clients and get the word out about my product.

My partner and I immediately got to work planning our first recruiter networking event. I had no idea how to host a successful networking event, but as a young, enthusiastic entrepreneur, I assumed that organizing a convention would be like planning a party. Boy, was I wrong!

How to Host a Successful Networking Event

Hosting a networking event can put a lot of strain on you and your wallet. But, if executed well, the event can be immensely beneficial to your business.

Preparing to host a successful networking event

Thorough preparation is the key to pulling off a successful networking event. The more you plan ahead, the faster you will be able to put out fires that could potentially ruin the event.

To prepare, first decide who will attend the event. Will you send out invitations or leave the event open to the public? Also, determine the number of people you expect to come. Even if the event is open to the public, you need to estimate how many people will show up.

Once you know the “who,” you need to figure out the “where.” The right venue is essential. Pay attention to the size, location, and cost. Be sure to reserve the venue in advance.

I ran Top Echelon from Ohio, but decided to hold the convention in Florida. I thought booking the event would be simple, but there were so many questions to answer.

Here are just a few of the questions I was asked from the hotel:

  • What kinds of meals will you be serving?
  • Are there any dietary restrictions?
  • Will there be enough protein at the buffet?
  • Will there be snacks?
  • Will you be paying for refreshments or will the guests pay?
  • Will you need outdoor spaces?
  • Did you plan an alternate option in the case of rain?
  • What kind of materials are you handing out?
  • How many rooms will you be using?
  • What kind of signage do you have?
  • When do you want to leave?
  • What are your security procedures?
  • Do you have shirts or uniforms?
  • Who is providing audio equipment?
  • What about audiovisual projection gear?

It was overwhelming trying to answer all those questions. But, overlooking details of your event could cost you. You have probably spent time creating a business budget, and the last thing you want is a mistake to push you over your limit. And, you don’t want your brand’s reputation ruined by a bad networking event. You’ll be thankful you crossed your T’s and dotted your I’s when your event approaches.

Budgeting your networking event

Budgeting is essential for a successful networking event. You want to impress your guests. But, spending over your limit could be an accounting nightmare for your business. If you don’t stick to a budget, the event might end up costing you more than the business you gain.

My partner and I cut it very close to our budget at our first convention for Top Echelon. When the event’s date came, we had no spare cash on hand and our credit cards were maxed out.

In one of my typical “ready, fire, aim” moments, I’d put the company on the edge of a do or die financial cliff. This convention was either going to be a smashing success, or it was going to smash us.

At the convention’s opening night, I walked out and introduced myself. As soon as I said, “Hello,” people started to heckle me. Then, a man very loudly ordered a shrimp plate on my bill.

I smiled and laughed along, trying not to let on that I was terrified. There was no room in my budget for a shrimp plate. I could not allow this plate to be the first of many shrimp plates. I needed to nip this in the bud without putting out the vibe that I was a stingy business owner.

I was on my toes for the rest of the convention. I learned that you need to be prepared for unexpected expenses when you budget a networking event.

When you create a budget for your networking event, you need to know how much you can afford. Make a list of all the expenses, no matter how small they might seem. Note which expenses are absolutely necessary for the event and which are extra.

Have a plan for handling unexpected situations. Think of the many variables that make up your networking event and determine which could potentially cost you more money. Though you might not want to think about it, prepare for worst-case scenarios. If possible, give yourself a financial cushion to handle these situations. This is where a business cash reserve can really come in handy.

What hosting a networking event can do for you

If executed well, a networking event can help your business gain customers. By building relationships, you can more easily convert potential customers into returning buyers.

At my first convention, I was able to get the attendees to bond with one another and understand my company. I turned the recruiters into friends, and as it turns out, it was a lot easier to win over friends with my cutting-edge business idea than skeptical recruiters.

Image: Blur event with people background


Tweak Your Biz is a thought leader global publication and online business community. Today, it is part of the Small Biz Trends stable of websites and receives over 300,000 unique views per month. Would you like to write for us?

An outstanding title can increase tweets, Facebook Likes, and visitor traffic by 50% or more. Generate great titles for your articles and blog posts with the Tweak Your Biz Title Generator.




Mike Kappel is the president of Patriot Software, LLC., which develops online accounting and payroll software for small business owners. He has also founded four other successful small businesses, and he is passionate about helping other entrepreneurs find their way to success http://www.patriotsoftware.com/

Similar Articles
Comments
  •  Hi Sarah

    Interesting piece, but when you say that Greenpeace “have turned away from their hippy roots and taken a step into the online world in their fight against the major oil company”, it doesn’t quite tell the full picture.

    Greenpeace were very early adopters in terms of social media and viral campaigns. For example, Dave Walsh from Wexford has been a web editor on their expeditions for over eight years now, sending blogs, photographs and multimedia back to base and around the world, often in dangerous conditions. See e.g. http://www.greenpeace.org/international/en/news/Blogs/makingwaves/dave/blog/9254/

  • Sarah – very well thought out and researched post. The tactics employed by Greenpeace seem right in line with the tactics described in Ryan Holiday’s book, Trust Me, I’m Lying.  It will be interesting to see if Shell decides to “take one for the team” and use the negatives to turn into some positive for them. 

  • Something exactly like this happened to the Chevrolet brand back in 2006, except for GM it was a real campaign that got a little out of control rather than a brilliantly subversive social message orchestrated by a third party. GM allowed the public to create commercials for the 2007 Tahoe using stock footage combined with user-generated copy. Some of the entries were less than flattering, to put it mildly. If I recall correctly, GM’s PR team acknowledged the negativity and then left it alone.

  • Hi Todd,

    Thanks for commenting. I think Shell will be following the same lines as the GM PR team, as they have acknowledged what is going on, but don’t seem to plan on taking any action – for fear it will only keep the Greenpeace campaign in the public space for even longer.

    Sarah

  • Thanks Warrren. Not familiar with that book, must give it a look!

  • Thanks for the comment. I didn’t mean to say that this was Greenpeace’s first foray into social media, just to say they had come a long way from their original ‘hippy roots’. Thanks for the link, will definitely check it out.

  • Thanks for your expert advice Ashesh – I’m still ios and don’t want to switch. I look forward to your next post and Happy New Year

  • perhaps a “9 reasons to swap to Android from iOS” post could follow to provide a balanced view? 🙂

  • oh, I spoke too soon, I see you already have a “7 reasons why Android is still better than iOS” article… albeit a year or so ago




Featured Author
Subscribe
© Copyright 2009-2017, Bloggertone LLC. All rights reserved.