In my last post, I talked about why it’s important to not get too possessive of a seat in a networking group. But there are often two sides to a story, and that’s true here as well.
I’ve seen groups try to split a seat too finely. Like multiple residential real estate agents who serve different jurisdictions. Can it work? Yes, sort of. But the problem comes when a referral isn’t certain of where they want to live. What then? Who gets the referral?
The classic situation is the financial planner/insurance seat. I’ve seen groups try to split this four or more ways. Again, it can work if all the members are true specialists, but that’s not common.
Most financial planners also sell life insurance, disability insurance, annuities and sometimes even group health. Many property and casualty agents also sell life insurance and do financial planning.
So on the surface, it might look like a good ides to split the seat. But the guy who gets the life insurance referral isn’t likely to refer the financial plan to the planner. Resentment ensues, and the group is caught up in nasty politics.
Think carefully before splitting a seat. Interview all prospective members and ask if they can and will refer each other. Dig deep and don’t accept a quick, “Sure. Of course I will.” Ask how and when. Create some scenarios.
Like I said, it can work. But it can also be a disaster. No group wants to deal with ugly internal politics. I’ve been there. It usually doesn’t end well.
