I have also found most networking (of any kind) to be an inefficient use of my time. At most events, I always had a little voice in my head saying things like,

I have also found most networking (of any kind) to be an inefficient use of my time. At most events, I always had a little voice in my head saying things like, "Instead of being here, I could be building <x>," or "What could possibly come out of this discussion?" I'm also frustrated because so many events don't have my prospects, but "people who know people who know people who may know a potential prospect of mine". I have taken a totally different approach. It's really simple and maybe even counter-intuitive. Hear me out: Be excellent. Better yet, be very excellent. In everything you do. If my customer doesn't think I'm their best vendor, then I have failed. This applies to everything. In the work that I do. In the products I supply. In the fun their people have with me. In the "outside their box" thinking about every project. In the communication. In the failsafe processes of doing business (Yes, I double check that some has double checked.) In thinking 2 steps ahead of them. In being a trusted partner in that part of their business. In pristine ethics (Don't underestimate this one; one slip neutralizes everything else you've ever done.) When I conduct business this way, I become a magnet to those who need my services. I call this "passive networking". I spend no time networking, no time marketing, pay no referrals, and focus completely on my customers. They know and appreciate this. When one of their colleagues mentions a concern at their networking meeting, their Tech Club, their restaurant, or in a discussion with their vendors and customers, they think of me. When they care about the people they know, they want the best for them. I always want to be thought of in this way. IMO, this is the definition of totally efficient marketing. I know it sounds awfully old school and like a cop-out, but doing everything I can to make myself a magnet is the best thing I ever did for my business. So instead of wasting 99% of my time with strangers, I spend it directly investing 100% of it in people that already matter.