There are too many people attending too many networking events with too little return. Nobody gets paid for networking. We all get paid on the results of our networking. So do you stop to think about your networking ROI?

In my early days of networking, take a look at my stats over a two year period. I attended 126 business-related events, spent £3,485 on breakfasts, lunches, dinners and memberships, spent 284 hours (22 whole days) of contact time (pressing the flesh, swapping cards, shaking hands) and collected 987 business cards. Guess how much business I got in all of that time from my networking endeavours?

Nothing. Zilch. Nada. Rien. Naff all. Nil Point!

Felt like I was busy. Felt like there was always something happening. But in cold hard networking ROI, nothing.

For most people, the ultimate end-game of networking is new business, more sales, fresh customers and clients. But let's look at more easily defined, achievable objectives from a networking event.

What you're really looking for is an interesting conversation with either a juicy prospect, or a well-connected person who knows where to find those juicy prospects.

In networking terms, that should leave you with a business card and permission to follow up. You really want that one-to-one,  meeting or cup of coffee with a potentially profitable contact.

See, no business really gets done at a networking event. The sale is made, the synergy uncovered, the needs analysed, the networks explored and the gaps uncovered when you meet face to face some time afterwards. Away from the crowds, the noise and the pressure of a networking event.

So here's an idea. What if you skipped all of the networking and just went straight to the coffee? Tea and hot chocolate work well too in my experience. Your challenge now becomes:

Who can (and should) I be having coffee with?

In my writings and networking masterclasses, I teach 8 separate networking strategies to fulfil your business and personal goals. Central to all of these is working smarter, not harder. Networking less and not more. Adopting a strategy that plays to your strengths and not to conventional thinking.

So imagine you could identify 50 people over the next six months that you'd like to have a coffee or tea with. You'd like to sit down and explore potential business opportunities, networks, needs, synergies and contacts with. Imagine networking events hadn't been invented. How would you do it? How would you put together this hotlist or bubble pot of people you'd like to meet and get to know? There are two steps:

1. Decide who you want to meet with - target market, prospects, connectors, introducers, mavens, hubs, suppliers, providers, advisors, experts, VIPs, movers, shakers, influencers, leaders, coaches, mentors, gurus, thought leaders, thinkers, doers, customers, clients, consultants, prime contacts...
2. Think where you might find them - online networks (ecademy, linkedin, twitter etc), professional associations (organisations, clubs, societies, groups, trade associations, industry forums), word of mouth (asking people who they know), your database (previously met people, your business card box, your email list, your rolodex or mobile phone list).

Then simply connect with them (send them an email or pick up the phone) and suggest a coffee to do any of the following:

1. Explore a few business ideas...
2. Learn more about their business...
3. See who you might introduce them to...
4. Ascertain whether you can help them in any way...
5. Build a long term relationship or alliance...
6. Suggest a joint venture or business opportunity...
7. Get to know them...

A coffee is easy, quick, short, sharp, not too time-consuming and easy to walk away from. It's convenient, easier to deal with and quicker to organise than a networking event.

Let's finish with some maths. Let's say you attend 6 networking events a month. 3 hours each. That's 18 hours. Now let's add in follow up calls and meetings, say another 18 hours. Let's add 12 hours for research, inputting cards, travel and preparation. That's 48 hours, or two full days a month.

Now let's say you decide to network less - just drink more coffee!

You've got a list of 50 people you want to meet over 90 days. That's 17 a month, or 4 a week. If you park yourself in a decent cafe, a Costa Coffee or Starbucks for an afternoon, you can line up those one-to-ones in 5 hours. Minimum travel time - get somewhere close. An hour for each and 15 mins transition time between each one. Some one-to-ones can be less than an hour if you're focused and following a tight agenda. Let's call it 6 hours with travel. That's 24 hours a month, or half of your networking time.

The question to ask yourself is this:

Can I source the people I want to meet without going to networking events?

With a well-crafted email or compelling phone script, can you connect with people with enough interest, curiosity and value to make them keen to share 40 minutes with you over a coffee? Are you worth meeting? Are you prepared to save precious your time and try something a little more courageous. Do something a little different? My challenge to you is this:

Stop networking - just drink more coffee!