Pros and Cons of Speed Networking

Today the working style has changed dramatically as completing day-to-day work is no longer sufficient to excel in your career. Now, along with office work, individuals have to socialize with their colleagues or partners to be fully aware of the latest trends. By having a strong, interlinked social network, a person can obtain information regarding job opportunities, ongoing business trends, etc. So, whether you’re a graduate seeking employment or a seasonal careerist, an expansive network would surely serve as a window of hope. 

Due to this, speed networking has been introduced to match the swiftness of this rapidly evolving corporate world. Speed networking or speed business meeting is a gathering or a seminar designed to promote and accelerate business relations. Participants of different occupational backgrounds get together on one platform to discuss corporate matters, exchange information, and share entrepreneurial ventures. 

Speed networking is typically referred to as a by-product of speed dating. It is because it exists in combination with business contacts and other trade links. Although the interactions are brief, if the interest is mutual, then a short meet-up turns into a date. Speed networking comprises of three basic arrangements that are as follows;

  • Round Robin
  • Station-based 
  • Group-based 

Among the three formats, round-robin is typically applied to conduct speed networking events. In this modality, the participants are seated in a circular arrangement and, each round is commenced on bell dings. Participants are supposed to give a brief introduction about themselves and their occupation followed by a quick exchange of contacts. This way every individual present at the round-robin meeting partakes one by one. Later on, the members of the meeting are allowed to socialize openly with corporate professionals they didn’t had a chance to interact with. 

So here are the pros and cons of speed networking:

Pros:

  • An individual can build cordial relations with people belonging to different sectors. This way one can have an insight regarding different trading formats. 
  • It is an effective way of sharing business goals with people of the same interest as well as meeting new investors.
  • Speed networking events taking place in colleges and universities serve as a career fair for young aspiring students. Through such events, they can set interviews with different companies and get internship or job opportunities. 
  • The concept of “speed networking” is currently being used by numerous organizations to host events like trade shows and all. Career fairs, job dating, chambers of commerce are some other events based on the concept of speed business meetings.   

Cons:

The drawback of this event is that the interaction between the two parties is very limited and brief. Due to this people are unable to converse properly with individuals showing interest thus reducing the number of opportunities. Since the given time is precise, the so-called organized event gets chaotic due to excitement created by the over-enthusiastic crowd. So if you are new to this kind of situation then extracting “essential information and data” may become quite challenging for you.