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Episode 102: “And the Survey Says…”
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Synopsis
The national directors of BNI in the UK and Ireland surveyed 4785 members and came up with some great information.
- 44% of BNI members had been in their business for more than 5 years. 70% had been in business for more than 2 years. (Most businesses fail within their first 3 years.)
- 25% of BNI members are one-person-businesses; 54% have 2-10 employees; 22% represent companies of up to 50 employees. 75% of our members have employees who work for their companies.
- 89.3% of the members felt that camaraderie was important to their participation in BNI, and 90.3% were satisfied or extremely satisfied in this area.
- Based on the survey, 15% received more than £25,000 (US $34,000) in business in the last 12 months, and of those 6% received £50,0000 or $69,000, and 80% received at least £2000 in business just from BNI.
- 86% of all BNI members were likely to renew their membership. In actual fact, about 20% don’t renew because of factors beyond their control, so the average renewal rate is about 60%.
- 70% of the people who do not renew made less than £2000 in referral business. This shouldn’t be a shock, but it’s powerful evidence that the amount of business you generate affects your attitude about BNI.
You can read more details in SuccessNet Online, including the graphs that go with the statistics.
Brought to you by Networking Now.
Episode 76: “Empty Your Purse Into Your Head”
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Synopsis
Ben Franklin once said, “If a man empties his purse into his head, no one can take it from him. An investment in knowledge always pays the highest return.”
Most people only pay lip service to education. Dr. Misner is convinced this is the reason that 50% of businesses fail in their first three years. Success requires that you embrace a culture of learning and work on your business.
Action Item
Look at your financials. What have you spent for ongoing business education? How much time have you spent on free educational resources like this podcast?
If you don’t have a regular commitment to educational activities, go out and attend a seminar, subscribe to a podcast, or read a book.
If you go to Networking Now and enter the code “referralinstitute” you’ll get six months’ free membership.
Brought to you by Networking Now.
Episode 75: “Member Development 101”
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Synopsis
This week Dr. Misner is preparing for the book tour for The 29% Solution. Today’s podcast focuses on ways to grow a chapter, divided into “Referrals,” “Light Contacts,” and “Cold Contacts.”
It’s important to remember that cold contacts are not the best way to build a referral network—but feel free to invite anyone who calls you to visit your BNI chapter.
Member Development Handout
Suggestions for generating new members to a new or, existing BNI chapter—ranked in descending order based on perceived value.
Referrals
- Ask Influencers
- Ask BNI members (for core groups)
- Mail or e-mail people that you know personally
- 3rd party invite
- Personal contact
- Ask clients
Light Contacts
- Present the opportunity during a speaking engagement
- Present the opportunity to those you meet at networking events or trade shows
- Ask somebody who is cold calling you
Cold Contacts
- Create a website
- Make cold calls
- Mail or e-mail people you don’t know
- Put out an ad
Download a printable copy of these tips for your own chapter.
Brought to you by Networking Now.
View the entire transcript of this episode.
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