This is a rebroadcast of episode 374.
This week Dr. Misner shares one of the biggest weeks ever in BNI, from the BNI Professionals of Bellaire chapter in the BNI Houston West region. This chapter passed $1,132,087 in closed business in one week!
Director Consultant Louis Sokol explains that this was accomplished through strong but small power teams in constant communication. Four members of their group are commercial trade members and $1 million of the business listed above was commercial business, but this was not just one big sale. What increases referral power is increasing interaction between members.
If you belong to BNI Professionals of Bellaire, we’d love to have you share your experience of generating so much closed business in a week.
Brought to you by the Networking for Success YouTube Channel.
Complete Transcript of BNI Podcast Episode 374 –
Hello everyone and welcome back to The Official BNI Podcast brought to you by NetworkingNow.com, which is the leading site on the net for networking downloadables.
I am Priscilla Rice, and I am coming to you from Live Oak Recording Studio in Berkeley, CA. I am joined on the phone today by the Founder and Chairman of BNI, Dr. Ivan Misner. Hello Ivan, how are you and where are you?
Hi Priscilla. I am actually in Austin, Texas this week, talking to you from my place in Austin. I have an amazing story, just an amazing story that was shared with me by Louis Sokol, a Director Consultant in the BNI Houston West region. It is about a chapter that passed 1.1 million dollars in business, in closed business in one single week.
Wow. That is impressive.
It is the BNI professionals of Bellaire Chapter of BNI Houston. A big shout out to them. I don’t know. Maybe we have had something bigger than this, but if we have, I don’t know about it. It was one of the biggest weeks I have ever seen for a chapter. I am really truly impressed with them. I thought I would share with you what Louis shared in terms of how they did that because I think it’s a great story.
By the way, he starts off- he published this press release BNI news brief at BNI.com. His comments start with the exact number as verified by the chapter vice president was $1,132,087 in thank you for closed business in a single week again by the BNI professionals of the Bellaire Chapter, which is a chapter that is about six years old in the Houston area.
He talks about the fact that they did this with small strong power teams. I think this is so important to understand, that chapters with really strong power teams really have an opportunity to generate a lot of business. Maybe not a million in one week, but they really can focus their efforts.
He shared that the chapter was reasonably small a couple years ago and they understood that they had a lot of opportunity for growth and they started the growth process in their chapter with a real simple exercise. Each of them looked around and were asked what one or two people were missing from this group who would make [them] incredibly successful if they knew they could refer [them]?
So you ask yourself, “Who is missing who could refer me that would make me more successful?” That is where they began in this process. The bottom line is that they answered that question and then found those people when the new leadership team took over in 2013, they put a similar question out again: Who do you need to add to the chapter to get the most value out of it? Then they encouraged each person to have a minimum of two or three primary referral partners or power team.
That is how they did this. They had a pretty strong commercial trade set of people in the chapter and those trade referrals, of course, have a tendency to do higher ticket value items. That was a large part of their success.
So their emphasis on the power teams is what got them to a one million dollar thank you for closed business in one week.
Can you let us know a little bit about how that broke down? How did they make that $1.1 million?
Louis talks about doing a number of things that helped to make that happen. Constant communication, he felt, was key. Utilize email, text messages, connect with each other as frequently as possible. And the reason for that is to make sure that everyone knows what projects you are working on, what projects they are working on and then constant communication and then meetings with one another. Then effort to fill existing power teams to make sure that all of the professions in there, if possible, had people who could support them.
Okay. I just wondered- did they sell a big property? Is there something specific about- how do you generate $1.1 million in a week? That is what I want to know
Yeah, that is a great question. I really think it kind of was a journey, not a destination. I know that within a year, their group added four commercial trade members and they had closed projects totaling about $500,000 but I think it was a continuous effort over a long period of time where a lot of projects kind of came together roughly within the same time frame.
So it is not just one big job that closed. It was a whole series of things. Frankly, I have seen that- although not a million dollars in one week. I have seen that with a lot of groups, that the numbers consistently go up which is one of the reasons it is so important to track the thank you for closed business because if you can look at how you are doing on a month to month basis- and by the way, that really does vary, you know, seasonally, depending on what time of year. In some professions, the numbers might go up. In others, it might go down.
You can look from year to year and see a trend, and if that trend is going up, then you are going in the right direction and that is clearly what you saw with this group.
So the message for everyone listening is to really learn how to develop your power teams in your chapter. I would love to have any members from the BNI professionals of the Bellaire Chapter to share here in these comments some other things that you think helped make this record-making week for a BNI chapter. I would love to hear your input. Share with us, everyone, in the comments section what you observed in helping to make this happen.
That’s it for today, Priscilla.
Okay perfect. Thank you so much, Dr. Misner. Well, I would just like to remind the listeners that this podcast has been brought to you by NetworkingNow.com, which is the leading site on the net for networking downloadables. Thanks for listening. This is Priscilla Rice, and we hope you will join us next week for another exciting episode of The Official BNI Podcast.