Episode 102: “And the Survey Says…”

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.

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Episode 57: “Referral Marketing is a Risky Business”

Synopsis

Dr. Misner has just returned from the Canadian conference, where he had the opportunity to network with people from all around Canada.

Referral marketing is not the safest form of advertising. There are unique risks which are not an issue in other forms of marketing. When you give a referral, you give away a little piece of your reputation. That means you have to have confidence that the person you refer is going to do a good job. Therefore it’s important to have strong relationships with people you refer business to.

The fact that BNI has a membership committee in place to keep an eye on the long-term relationships within a chapter helps reduce the risks. And because BNI meets weekly, you can check up on referrals. It’s important to bring up any problems and give your fellow members the opportunity to address them and make the client happy.

Dr. Misner recommends the book The Speed of Trust, by Stephen M. R. Covey, (the son of the Stephen Covey who wrote The Seven Habits of Highly Effective People). Trust can save you millions of dollars in legal and accounting fees.

Be aware that building trust takes time—a good relationship can easily take a year to develop. And remember, referral marketing may not be the safest form, but it’s the most effective.

Brought to you by Networking Now.

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Episode 37: “You’re the Average of the 5 People You Hang Out with Most”

Synopsis

This week’s podcast was inspired by Jack Canfield’s presentation at the BNI International Conference in November 2007. If we really are the average of the 5 people we hang out with most, here are some things we should consider:

  • If we hang out with professional, successful people, it forces us to be more successful.
  • BNI’s Membership Committees need to ask whether a potential new member raises the bar for the chapter.
  • Network up: seek out networking relationships that pull you out of your comfort zone.
  • Open doors to people who have a positive attitude toward success.
  • Some of your associates may rate a “D” for “delete” if they bring you down.

Helpful links: Buffini & Company: Working by Referral

Brought to you by Networking Now.

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Episode 27: Less Is More

Synopsis -
In This Episode, Dr. Misner Interviews BNI Director Patti Salvucci On Her “Less Is More” Approach To Building Chapters.

  • Patti Has Built Over 100 Chapters With An Average Of 27 Members Each
  • Use The Practice of “Focused Inviting”
  • Only Invite People Who You Know Are The Best At What They Do
  • Ask Them To Do The Same In Turn
  • The Less You Say, The More People Will Participate
  •  [View the entire transcript of this episode]

    Episode 18: Why Introverts Can Be Great Networkers

    Synopsis -
    In This Episode, Dr. Misner Tells Us How Introverts Can Be Great Networkers, Including:

  • Information in Ivan’s book: Truth or Delusion?
  • Question: You Have To Be A Great “People Person” to be a great networker – Truth or Delusion? DELUSION!
  • A Good Networker Is A Great Listener – Extroverts Often Dominate Conversations
  • Introverts Are Better At Carrying-On A Conversation Than They Are At Initiating One
  • Must Learn Techniques For Introducing Yourself And Getting The Other Person Talking
  • Volunteer To Be A Chamber Ambassador Or A BNI Visitor Host
  •  [View the entire transcript of this episode]