The Benefits of Industry Specific Groups

If you really think about it, it is incredibly rare to find opportunities to connect with other professionals in our industry where it doesn’t feel like we are competing with one another. The main culprit for this is the rampant scarcity mindset that plagues many beginning (and even more established) entrepreneurs and small business owners. The only way that industry based gatherings can truly unlock their potential and collective benefit is when they call for an abundance mindset from all attendees upfront. We want to call this out upfront, because if you have attended an industry based group before and our following list doesn’t resonate with you, our challenge would be to ask what mindset do you think people brought into that last group you attended?

When abundance is the disposition, these are a few of the major benefits we have seen from industry specific cohorts/groups and are already seeing playout in the two new ones that we have launched at Refinery46.

• Sharing New Industry Insights: Individuals gain valuable insights and knowledge about the latest trends, best practices, and emerging technologies happening in your field.
• Example: We recently dialogued about contracts at our Creative Cohort. Attendees were sharing with one another exactly how they had found success and failure in executing contracts with clients and sub-contractors. Pair this with bringing in an actual contract lawyer to guide the conversation and business owners walked away with priceless information!
• Creating Strong Referral Partners: Yes, we all want to go somewhere to find immediate clients, but these types of groups reward those who approach them like farmers, not hunters. Attend the events to participate in discussions, share your expertise, and increase your visibility and credibility with those in your field. Doing so will entice your peers to make referrals to you when it is appropriate for the client or when they can’t fit the work in. Knowing that they are referring someone who trusts them (their contact) to someone they can trust (your business) brings intangible value to them and tangible value to you!
• Example: Two one-man shop general contractors connected at our Home Services Happy Hour and have since been able to refer work to one another when people have requested services that landed beyond one’s scope but lined up perfectly with the other’s preferences.
• Reviewing Industry Specific Resources: Industry-specific groups often provide access to exclusive resources, such as training programs, research reports, and benchmarking data, which can help you improve your business operations and stay ahead of the competition. You can’t undersell the value of asking someone else what they charge for a service to gauge your own offerings.
• Example: Refinery46 has significantly benefited from being part of an international Coworking Space only Facebook group that shares leasing and membership data freely with one another to better identify annual trends. Additionally, our new private office construction came from a direct recommendation from our friends at Switchboard in Fountain Square as a way for us to diversify our office offerings!

If you are looking for a competitive edge in your business, shockingly, we recommend hanging out with your competitors and those adjacent businesses in your industry!

Go find a group or, reach out to us here at Refinery46 and let’s see if we can start one with you!

Interested in Attending a Refinery46 Industry Based Group? Check out the dates/times below and email Addison@Refinery46.com to get on the calendar invite!

• Creative Cohort – Every 2nd Thursday of Each Month – Alternating Times of 12:00-1:00pm and 4:00-5:00pm
• For businesses that operation in video production, animation, graphic design, motion graphics, marketing services, and web development
• Home Services Happy Hour – Last Thursday of Each Month – 4:00-5:00pm
• For businesses that are connected or adjacent to real estate, home services, construction, trades, and landscaping