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 [...]
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.
Synopsis Nielsen recently did a survey of how much people trusted different forms of advertising (see illustration below). Only four entries scored 50% or above: branded websites, editorial content, consumer opinions (such as reviews and ratings), and recommendations from people they know. 92% of people trusted recommendations from people they know–also known as referrals. Clearly, [...]
This is a rebroadcast of Episode 64. Synopsis This episode is based on a blog post Dr. Misner wrote. Successful networking isn’t about what you know, it’s about what you do. Ignorance on fire is better than knowledge on ice. The only thing more powerful is knowledge on fire. Networking is a skill that looks simple but [...]
Synopsis To be a good referral partner, you need to learn something about the person that you’re referring. If you know some of the following points about a person’s business, you can make a much better referral. It often takes at least a year to build up the kind of relationship that leads to really [...]
Synopsis Susan Goodsell, BNI Executive Director for BNI Riverside and San Bernardino Counties (and also a BNI employee who works on branding), joins Dr. Misner to explain why a good referral is in the eye of the beholder. All BNI members understand that a referral is the opportunity to do business, not a guarantee of business. But [...]
Synopsis Andrew Hall from BNI Sussex, who brought BNI to Malaysia, Hong Kong, and Taiwan, joins Dr. Misner on this week’s podcast. You need to have a rota of one-to-one meetings of your members. Your 60-second intro is static. A one-to-one is a conversation. It’s dynamic. Nothing opens out your business to your fellow members [...]
This is a rebroadcast of Episode 88. Synopsis Dr. Misner calls in from Hawaii to talk about how to share your success stories without bragging. Telling your success stories is vital to the growth of your business. Here are five ways to do this. Ask for written testimonials. (Write samples to help clients get started.) [...]
Synopsis Visitors’ Days are an outstanding way to bring measurable growth to a chapter. They are not the only way, but as a single technique, they can be one of the best. But don’t wing it. Use the BNI Visitors’ Day Handbook. Your local BNI director will be able to provide you with a copy [...]
Synopsis Dr. Misner received this question from a BNI member. (Keep those questions coming!) “I’ve reached out to my group to make a connection with the CEO of a startup company that I know I can help. So far, my members don’t have a connection inside the company. Other than a cold call, what would [...]
Synopsis A BNI member named Gary asked Dr. Misner the following question: I have passed a referral to someone on two occasions and they have not followed up on either. This happens to be someone in my own chapter. I am now wondering whether they actually want me to pass them more referrals or don’t [...]
Synopsis Dawn Lyons, co-author with Dr. Misner of the new book Room Full of Referrals, joins him on the podcast today to talk about assessing the value of your BNI Membership. BNI members get more from their membership besides referrals and business. This assessment tool helps members realize how they have progressed in their businesses since [...]
This is a rebroadcast of Episode 211. Synopsis This episode has its origins in a video for Entrepreneur.com. Everyone experiences fear of rejection. In Dr. Misner’s case, the overwhelming experience came when he was trying to persuade stores to carry his first book. He found himself afraid to get out of the car and walk into [...]
Synopsis Just a reminder that the new intro to the podcast was produced by Tony Wolfe. Stewart Emery shared a story with Dr. Misner recently about a billionaire CEO who used the same company cafeteria as the rest of the employees. Prospective buyers of the company wanted that to change if they bought the company. [...]
Synopsis A BNI member asked Dr. Misner how to combine attracting and retaining new members with passing high-quality referrals. There are three factors in this. System BNI works best when you use the whole system as outlined in the manuals. If you remove too many pieces, the whole thing will fall apart. Accountability How many [...]
Synopsis New podcast intro by BNI member Tony Wolfe. Special guest Mark Goulston joins Dr. Misner on the podcast today to talk about his new book, Real Influence: Persuade without Pushing. Lasting influence Go for great outcomes Listen past your blind spots Engage them in their “there” When you’ve done enough, do more If you can [...]
This is a rebroadcast of Episode 110. Synopsis Phenomenal reviews can convince you to go to an out-of-the-way restaurant. Written testimonials can do the same thing for your business. Consumers trust testimonials from other people more than they do your own marketing materials. BNI members can use written testimonials in several ways. Place written testimonials [...]
Synopsis Today’s podcast is a response to a new member’s concern that the current reporting system pressures BNI members into valuing the quantity of referrals they pass over the quality of those referrals. “I believe I understand what a good referral is and is not, but the temptation to stick a fellow BNI member with [...]
This is a rebroadcast of Episode 138. Synopsis BNI conducted a survey for the book Masters of Networking that asked business professionals what the most important traits of a master networker were. The most important trait was following up on referrals. Not giving them, following up on them. See Week 20 in The 29% Solution, “Follow Up Today,” for [...]
Synopsis This week John Meyer, U.S. National Director of Field Affairs for BNI and Executive Director of BNI Ohio, joins Dr. Misner on the podcast to talk about the Thank You for Closed Business (TYCB) system, which measures the business passed between BNI members. Why do we report closed business on TYCB slips? We want [...]
Synopsis The down side of BNI Connect is that it allows you to make connections and ask for business with other BNI members without a relationship. This amounts to spam–unsolicited commercial email. But it’s an easy mistake to make. A member wrote to Dr. Misner and said the following: “I used your website to reach [...]
This is a rebroadcast of Episode 206. Synopsis It would probably surprise you to know about some of the influential people that some of your fellow BNI members know. Don’t assume that just because someone works in an unrelated industry, that person isn’t a referral source for you. It doesn’t take a corporate executive to [...]
Synopsis Today’s topic was suggested by a BNI member who couldn’t find the topic covered in the podcast. He said “A member came to me with a referral, and said that if I did business with the referral, they would like a commission.” He was shocked; he had never heard of such a thing before. [...]
Synopsis A BNI member in the Netherlands asked Dr. Misner for a history of BNI’s Code of Ethics. There are 6 points to the Code of Ethics, which is meant to be a set of principles to address conflicts or complaints. I will provide the quality of services at the prices I have quoted. I [...]
Synopsis Jeremy Walsh, director of support for BNI Connect, returns to the Official BNI Podcast. If what Jeremy talks about is not available in your area, contact your executive director. If you don’t yet have a BNI Connect username and password, go to support.bniconnect.com and submit a ticket. New Landing Page shows you all your stats [...]
This is a rebroadcast of Episode 74, which originally appeared on October 1st, 2008. Synopsis Dr. Misner and BNI member Julien Sharp about how BNI can make a cross-country move easier. There are many ways BNI can help. Your local BNI chapter can help you prepare for the move through referrals to realtors, moving companies, etc. Joining [...]
Synopsis Mixers are a great way to network, and in particular a great way to bring people to your office. So in addition to attending mixers held by organizations like the Chamber of Commerce, BNI members should consider holding their own. Here are Dr. Misner’s tips for facilitating a great mixer. If at all possible, [...]
Synopsis A listener named David commented on an earlier episode to say, “Sometimes we feel obligated to engage with a bad referral from another BNI member even if the person isn’t a good fit. How do you deal with this situation?” First, if you’re giving a referral, remember that you’re giving away a piece of [...]
Synopsis Dr. Misner’s guest Michael Drew has helped create 74 bestsellers through his company Promote a Book, Inc., including some of Dr. Misner’s own. The topic of today’s podcast is his latest book, Pendulum: How Past Generations Shape Our Present and Predict Our Future, which explores the way networking groups like BNI are positioned to grow massively over [...]
This week’s episode is a rebroadcast of Episode 37. 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, [...]
Synopsis Dr. Misner’s favorite technique for inviting visitors to BNI is what he calls “We’re Interviewing.” Suppose your chapter needs a printer. When you meet a printer, explain that you’re in a referral group and say “We’re interviewing printers now to find the best printer in the area to give all of our business to. I [...]
Synopsis This week Dr. Misner brings Jeremy Walsh of BNI Connect Global Support back to share 5 power tips to boost your ROI with BNI Connect. Update your profile. Make sure all the information is complete and correct. This makes it easier for people to pass referrals to you. Print the Meeting Notes Report and take [...]
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