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Expats in Singapore referring business to one another

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mpld1979
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Expats in Singapore referring business to one another

Postby mpld1979 » Mon, 30 Aug 2010 3:14 pm

Hello folks,

I am in the process of setting up a business networking group where it is for expats based in Singapore with the aim of members referring business to each other. I would maybe arrange this once a month. Some of you may of heard of BNI (where members refer business to each other). My idea would be to get people together but it would be more informal and more social.

What are your thoughts on this idea?

Do you think its good or bad?

I welcome your views.

Marc
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Strong Eagle
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Postby Strong Eagle » Mon, 30 Aug 2010 3:40 pm

Possibly it is different in other businesses, but I find these things a waste of time in my line of business. People come to get referrals, not give them, or they come in the hopes that someone there will need their services.

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Postby mpld1979 » Mon, 30 Aug 2010 4:19 pm

Hi Strong Eagle,

thanks for your reply.

You said that in your line of work networking is not effective. What do you specialise in?

I think networking can be time consuming and sometimes you can walk away from these events with no referrals or leads.

However, from experience if you attend these events on a regular basis and your build up your relationships with other members, the business and the referrals will follow. If one is to join these events i think they need to be open minded.

You might go to an event and you may not come away with any business. However, someone else's services or products may be of great benefit to you. Potentially, such events can be life changing.....

I think one has to have an attitude of serendipity.

Who is your ideal client?
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Strong Eagle
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Postby Strong Eagle » Mon, 30 Aug 2010 5:08 pm

Who is my ideal client? The one with bottomless pockets and can sign the checks.

I do large scale project management. The people that hire me are at the C level or VP or senior departmental level. I've rarely ever seen these folks at 'networking' meetings.

If I get lucky I might meet someone more junior who knows of a project and is willing to introduce me to his boss.

But mostly, I get people coming to me for jobs, or to supply training, or some sort of software to help me out. What they don't have, and what they will never have, is the connections to the people I need to meet to close a deal.

Those networks take time to develop. Deals like I do are done on a trust and referral basis. I meet people through previous work done, referrals, sometimes a game of golf... in which business is never discussed.

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Postby BillyB » Fri, 03 Sep 2010 4:40 pm

Mpld1979 - I think its a good idea as I know BNI works particularly well in some Countries. But I can't help but agree with SE on the premise that I have attended these type of events in the past and found them littered with people only trying to kiss arse and win business, and very little useful networking actually happens.

Perhaps look at gauging some reaction on a site like LinkedIn and structuring the event in a different way. I.e maybe a round table or Q&A session on a topic of interest in your industry sector, rather than a drinking session disguised as a networking event.

And be careful who you invite - before you know it you will have insurance and financial advisors crawling all over it, fresh out of their mobile phone sales job in the U.K thinking they can manage multi million dollar portfolio's because they have done a mickey mouse international advisory qualification! Seen it happen with industry events in the past.

Good luck though - hope it takes off and I would be interested in attending if you opt to go down that route.

BTW - What is your industry?

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Postby jeffreyong » Mon, 18 Oct 2010 9:52 pm

Marc, you still setting up the business networking season?

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Postby Ask to receive » Tue, 09 Nov 2010 4:09 pm

I went to a BNI meeting few weeks ago and they charged $860 per annum. WOW....i am a young entrepreneur, that, to me is extra $$ with no guaranteed results.
However if you are still interested in this business, i suggest that you charge but give some returns so as to attract participants.
I would have joined if they promise a seminar or training skill monthly etc.
“Ask and it will be given to you ; Seek and you will find; Knock and the door will be opened for you.” Matthew 7:7


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