The Official BNI Podcast

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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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