The Official BNI Podcast

Episode 239: Bigger Is Better

January 18th, 2012

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Synopsis

Today Linda Macedonio, Executive Director of BNI Rhode Island/SE Mass, joins Dr. Misner to explain why bigger is better for your BNI chapter.

In one region of Massachusetts, the average of the top 5 chapters was over 50 members and the average business generated per member was $34,000. The average size of the  bottom 5 chapters was 19 members and the average amount of money generated per member was 12,000.

Chapters that double their size consistently triple the number of  referrals in their group.

So why does this work? It has to do with the 80/20 rule.

Chapters with fewer than 25 members spend 80% of their time inviting and recruiting new members just to stay alive and only 20% on building relationships and passing referrals. Groups with more than 25 members can spend 80% of their time on passing referrals.

Larger chapters also have more and stronger power teams, so one referral can go to multiple people.

Let us know how much business your chapter is generating and how big it is.

Brought to you by Networking Now.

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Published In: Getting The Most From BNI | Special Guests
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Discussion: 8 Comments

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Episode 236: Behaviors & Credibility

December 21st, 2011

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Synopsis

Scott Simon returns this week to talk about how to cultivate business relationships in your BNI group.

To paraphrase Stephen Covey, you cannot talk yourself out of a situation you behave yourself into without far greater consequences. So here are some guidelines for behaving your way into visibility and credibility in BNI.

  1. Showing up early
  2. Being prepared
  3. Dressing professionally
  4. Talking about business during open networking
  5. Passing quality referrals
  6. Following up on referrals you receive
  7. Attending Member Success Program and advanced training
  8. Givers Gain mindset
  9. Inviting visitors
  10. Productive one-to-ones

Many people don’t understand how important the MSP training and the one-to-ones are. The people who do the most one-to-ones are the ones who are making the most money. (See episode 191.) But the most-overlooked behavior is probably showing up early, which shows how much you care.

Nine behaviors that destroy your credibility are

  1. Arriving late, leaving early, or not showing up at all
  2. Unprofessional or unprepared sales presentation
  3. Wearing yesterday’s clothes
  4. Airing your grievances during open networking
  5. Wasting your referral partners’ time with leads instead of quality referrals
  6. Not following up on referrals
  7. Poor service quality
  8. Having no visitors
  9. Trying to sell to members and guests

Too many people use networking as a face-to-face cold-calling opportunity, and that is not the way to build a powerful personal network. Remember that even though everyone wants to buy, nobody likes to be sold to.

The most surprising behavior among BNI members is not following up on referrals.

Brought to you by Networking Now.

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Published In: Special Guests
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Discussion: 5 Comments

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Episode 235: Working Smarter, Not Harder

December 14th, 2011

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Synopsis

Scott Simon of the Metropolitan St. Louis BNI, who manages more than 100 BNI groups, joins Dr. Misner to help show BNI members how to work smarter, not harder.

Here’s some important background information:

  • According to Stephen Covey, who spoke at the BNI International conference this year, trust is an economic driver. It speeds up the sales process. (See the book The Speed of Trust for examples.)
  • Most companies spend almost all their money on traditional marketing and advertising when a small fraction of that money spent on networking would get the same results. (It takes 200 cold calls to get an appointment.)
  • 98% of businesses rely on referrals, but only 3% have a strategy to get them.
  • Since most people know about 1000 people, joining a BNI group with 24 members is like having access to 24,000 people.

An examination of chapters in Scott’s region showed that participation in BNI yields an average of 1 new customer per 5 hours invested versus 1 new customer for every 32 hours expended using traditional methods.That makes BNI membership 6 times as efficient as cold-calling—and a lot more fun, too.

Brought to you by Networking Now.

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Published In: Marketing | Special Guests
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Discussion: 2 Comments

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Episode 229: Branding Recognition Ideas

November 2nd, 2011

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Synopsis

Bruce “Woody” Woodcock from BNI-IL Central joins Dr. Misner today to share ideas to increase your branding recognition. Many people join BNI without really knowing how to advertise themselves or what they do from a branding perspective.

You need to answer the questions “What do I do that keeps clients coming back to me? Who, what, where, why, and when?”

Identify three professions that you service and three people within those professions by name. What do you do for them? Reduce it to the ridiculous: if you’re available 24 hours, how? By phone? Land or cell? If you provide great customer service, how?

The more specific you can be about both what you do and who you’re looking for, the more referrals you’ll get.

Brought to you by Networking Now.

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Published In: Marketing | Special Guests
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Episode 224: The Value of BNI Connect

September 28th, 2011

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Synopsis

Kathryn Lodal from BNI San Diego joins Dr. Misner today to talk about her chapter’s use of BNI Connect. Members can share ideas and best processes, and can also use it for referrals.

People everywhere want to do business with BNI members. BNI Connect enables members from all over the world to refer business to you—but only if you fill out your profile with your contact information. Make sure that people looking for someone in your industry can find your address, phone number, website, and e-mail. You can also upload a photo of yourself and your business logo. The more complete your profile, the better your results will be.

If you don’t know how to fill out your BNI Connect profile, ask your local Executive Director.

Brought to you by Networking Now.

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Published In: Online Networking | Special Guests
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Discussion: 6 Comments

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