Years ago I learned that there is a dramatic correlation between the size of a quality networking group and the number of referrals which are generated by that group. The fact is, the addition of new members brings an increase in the likelihood that any given networking group will be successful.
Groups under 20 people do not generate as many referrals (proportionately) as do groups over 20 people and the math proves it. If you have a group of 16 people, that group has 256 connections (16 x 16). However, a group of 32 people has 1,024 connections (24 x 24)!
In a network, the number of relationships leads to a number of possible business referral connections that is a squared multiple of the actual number of people in your network. I call this ratio of people in a group compared to the total connections that are created, the “Squared Connection Effect.” Hence, the quantity of people you build networking relationships with truly makes a difference in the total number of connections and inevitably the amount of referrals which can be generated from your group.
So as you begin to build your own network of referral relationships, keep in mind that the more the better! The bottom line is that the more connections you have (based on quality relationships, of course), the more referrals you can generate. The math is pretty significant and consistent.
Is your networking group currently positioned for success in regard to the number of people belonging to the group? If not, what are some things you might be able to do this week to help your networking group grow?