BOULDER - If you're ever heading north on Highway 36 on a Wednesday morning and you see a pack of about 30 bicyclists huffing and puffing their way along the roadside, take note - that's not just exercise, it's a business meeting.

The riders aren't worried about their waistlines; they're much more concerned about their bottom lines.

They are entrepreneurs, venture capitalists, investors, accountants and lawyers, and they're all making deals on wheels.

Ed Messman, managing director of Hercules Technology Growth Capital Inc., a Silicon Valley-based tech venture capital firm with offices Boulder, started the biking group in 2000.

"It just seemed like golf networking events were everywhere, and there wasn't anything different. Boulder needed something unique," Messman said. "One day I realized just how many bicyclists Boulder has and thought it would be a good way to network. I wanted to create something new."

Whether biking and networking is new or not, Messman's group clearly has caught on.
"It was small and informal when I started it. (It was) about five people, and now we have about 100 riders," he said. "It was pretty viral, lots of word of mouth and e-mails. People started talking about this group that would get out and ride on Wednesday mornings."

Messman said between 30 and 40 show up every Wednesday at 6:30 a.m. between Memorial Day and Labor Day.

The group typically meets at Amante, a coffee shop in North Boulder. They ride for an hour, often north on Highway 36, returning to Amante breakfast for breakfast. Businesses take turns sponsoring the breakfast.

Messman said during the rides, bicyclists often talk business.

"I'll be riding along and look back and think, 'I haven't talked to him in a while, I need to check with him on this or that,'" Messman said. "Or someone's looking for a particular service and I say, 'Go up and talk to Bob in the bright yellow jersey.'"

Terry Malouf, founder of T. Malouf & Company, an executive search firm in Denver, frequently conducts business on her bike.

She doesn't actively pitch her company's services while biking; however, she does discuss pending or future engagements with clients.

"I also like to take notice of those who are a cut above and have backgrounds that sync with our clients' businesses," Malouf said. "They may be potential future candidates, and candidates often become future clients."

John Marcil, a corporate partner in the Boulder law firm of Faegre & Benson LLP, rides with co-workers and clients on Wednesdays after work during the summer.

"Well, it's not like we are carrying engagement letters in our jersey pockets," Marcil said. "Sometimes we talk about business, but it is primarily about getting some exercise, having fun and solidifying relationships. It also gives us an excuse to have a beer together afterward."

He added that Boulder is a "really special place" for cyclists.

"There are few places in the country where you can get dropped by a professional cyclist and an octogenarian in the same ride," he said.

Thomas Prehn, president of Boulder Sports Research LLC, a research firm that covers the cycling, outdoor and fitness markets, believes bicycling is growing in Boulder and Colorado, "from the mayor of Boulder to Gov. (Bill) Ritter, to even some of our congressmen in Washington."

Prehn said he commonly makes deals while on a bike. "Whenever I can ride and meet, it's great. Even with some of my staff. I would rather jump on a bike and have a conversation."

More senior-level executives are riding these days, Malouf said. "I find that many of my clients, prospective clients and active candidates are receptive to going on a business bike ride.

"Often these are very busy executives, and it is a challenge for them to fit some meaningful exercise into their day. If they can go on a ride, which is fast, and discuss business, then it's kind of a bonus for the day - sort of a healthy kind of multi-tasking."
But isn't networking hard - or even unsafe - while biking?

"Some places are safe to ride side by side and some are not," Malouf said. "I'm very particular about safety on the bike. I'm not the greatest at talking while riding uphill. If there is an unfinished conversation, we often conclude it after the ride at the coffee shop."
So, can biking replace golf as the ultimate networking sport?

Malouf said she has golfed, but hasn't done much business on the links. "Cycling is better for me because I'm better at it. Also, the teamwork aspects of cycling in a group are good for building relationships."

Avid cyclist Ray Keener, however, disagrees. "I'm a golfer and so a bit of a naysayer about networking on a bike. Golf is way better."