BNI and the Power of One

They say that the definition of insanity is doing the same thing over and over again and expecting different results.

That may hold true in some instances, but not in BNI.

In BNI, doing the same thing over and over again leads to success.

The Power of One

BNI founder Ivan Misner says, “Do six things a thousand times, not a thousand things six times. Success comes from being like a dog with a bone.”

It’s fair to say he probably doesn’t like that old “definition of insanity” saying.

Why?

“No chapter can reach its true potential without 100% participation from every member.”

Because in BNI, every member takes a few simple actions every day to ensure the success of their entire chapter.

Based on the enduring success of BNI over the last 30 years, we know that these five easy habits can almost guarantee profit – both for the individual and their entire network.

What are they?

·         Attend one BNI meeting each week

·         Make one qualified referral each week

·         Have one 1-to-1 meeting each week

·         Bring one visitor to the chapter each month

·         Complete one Chapter Education Unit (CEU) each week

BNI Meetings

Getting to one meeting a week isn’t much of a commitment – especially when you realize how much it can benefit your business. In just 90 minutes, you can educate an entire room about what you do, the products and services you offer, and exactly who you’d like to work with.

That’s more marketing leverage than any online ad, postcard mailer, or radio spot could ever get!

If you’re looking to grow your business, attending BNI is no-brainer.

Qualified Referrals

What is a qualified referral? It simply means that, based on what you’ve learned about your colleagues’ businesses, you pass them referrals for the customers or clients best suited to their needs – and they do the same for you!

1-to-1s

1-to-1s are where the magic happens! These face-to-face meetings allow you to get more in-depth than you would in a regular weekly meeting. Here, you can discuss business goals, products and services offered, unique selling propositions, ideal clients, and much more.

There is no better way to educate your sales force!

Visitors

Did you know that 20% - 30% of BNI business comes from visitors? Visitors are a great source of new business for the chapter, and have the potential to produce a solid, steady source of income for members. More importantly, visitors have the potential to become members themselves – and the larger your network, the better your sales force!

Chapter Education Units

CEUs are hands-down the easiest thing you can do to improve both your own business and grow your chapter. From podcasts, to blogs, to online classes, the options are nearly endless. Topics range widely, including everything from how to be a better speaker to how to invite visitors to your chapter – and for just minutes each week, it doesn’t make sense not to do it!

Givers Gain

Together, these five things equal “the power of one.” As you can see, it’s easy to be a productive, quality member of BNI. With just a few easy steps each week, you can ensure not only your own success, but that of everyone around you.

Is BNI Worth it for You and Your Business? Here’s What Members Say.

Every single week, all around the world, hundreds of thousands of business professionals go to BNI meetings to network with like-minded individuals. Why?

Because BNI is the single best way to grow your business through word-of-mouth marketing.

Case in point: In 2019 alone, BNI Somerset County generated over $8 million in revenue for our member businesses through referrals.

What is BNI?

For those who don’t know, BNI (Business Network International) is a professional networking organization that focuses on word-of-mouth lead generation. Members meet each week, where they pass quality referrals and help find new business for each other.

It creates an environment ripe for unparalleled business growth.

What Are the Benefits of BNI?

There’s a reason so many people (more than 270,000 worldwide!) choose to join and stick with BNI.

As a business owner, you know that you need to constantly work on your network and build new connections in order to succeed. It’s how business works – you can’t do anything unless you have a foundation of solid relationships with a variety of different people.

But how do you meet all those new people? Cold calling? Mailers? Just show up at their place of work, unannounced?

None of that sounds especially pleasant, but are there viable alternatives? Yes!!

BNI is the answer you’ve been looking for.

Founded in 1985 by Dr. Ivan Misner, the organization now has more than 9,400 chapters in more than 70 countries all over the world. In 2019 alone, 12.1 million referrals were passed through the network, which resulted in more than $16.5 billion in closed business.

BNI has had 35 years of consecutive growth, which very few companies in the world can say.

Best of all? In addition to your regular weekly meetings, BNI also offers the opportunity to visit other chapters, plus educational resources, workshops, podcasts, and more.

What Makes BNI Unique?

You’ve likely visited your local Chamber of Commerce or other networking events. You may even be a member of another organization. So, what makes BNI different from any other group or meeting you could attend?

For starters, BNI allows only one service professional per chapter in each specialty, so there’s no competition for referrals. That means that if you are a residential realtor, for example, you will be the ONLY residential realtor in your chapter.

“You have to make time for 1-to-1s and get to know people for BNI to work.” – Charlie Nuara, member since 2011

Next, members are expected to attend a chapter meeting once a week. Meeting on such a frequent basis ensures that those who join take their commitment to both the group and their fellow members seriously.

Lastly, each member is required to fully participate – that means giving a 60-second elevator pitch each week, passing quality referrals, taking part visitor’s day, and more.

The real key to success, though, takes part outside of the regular meetings. BNI encourages members to meet with each other on a 1-to-1 basis as often as possible. It is through these meetings that you can truly educate your teammates about your business and what you do, ensuring that you get exactly the type of referrals that you’re looking for.

What do Business Owners Say About BNI?

We’ve talked a lot about the rules and regulations and why we think BNI – but what do members have to say?

It’s the Best Advertising Money can Buy

Charlie Nuara, realtor at ERA Statewide Realty and Hillsborough Township fire commissioner, has been a member of BNI since 2011. He joined on a whim, hoping to meet new people and grow connections.

Since Charlie joined BNI, his chapter has grown from just 11 members to 25 – and it’s still growing.

Charlie Nuara - realtor

For Charlie, it’s been an integral part of his business, and today 20% - 30% of his profits come directly from BNI. He says it’s by far his cheapest source of advertising (and one of the most effective. Perhaps most impressively, the referrals he’s received have resulted in over $50 million dollars in real estate sold (and $350,000 in commission) in the last four years alone.

It Makes You a Better Businessperson

Lucy Sandler was a business newbie when she first joined BNI: She only had six months as a budding entrepreneur under her belt. Today, she’s been a member of her chapter for more than three years, and her business is thriving.

Lucy sandler - owner, house of blooms

Is that success due to BNI? At least partly. Lucy says that being a part of the group has given her invaluable insight into running a business. “It’s not just about networking,” she says. “It’s about having an endless well of business expertise to draw from. Without BNI, I would not have been able to run my business or sell my services as effectively.”

The Connections are Priceless

Roger Hill was in business for over eight years before joining BNI. Now, the ComForCare franchise owner gets more than 10% of his annual business directly from BNI – and he says it’s his largest referral source in the aggregate.

roger hill - owner, comforcare, somerset

Aside from revenue, Roger says there is one big reason he sticks with the networking group year after year: The connections.

On a personal level, he has used several other BNI members for products and services, including everything from dental work to hardwood floor restoration. He also uses several BNI members for business services and has referred many to his clients. All in all, he’s worked with over 40 other members of BNI – both from his chapter and others.

Thinking About Becoming a Member of BNI?

Come see us in action! Visiting a chapter (or two or three) can help ensure you find the right fit for you and your business – before you make the leap.

Here are a few things you can do to help prepare:

• Try out a few chapters as a visitor before committing. Doing so will allow you to get a feel for each group and its members so you can find exactly where you belong. As a visitor, you can attend a chapter meeting twice for free.

• Try to find a group where you DON’T know many people – this will ensure you get the most out of new relationship-building opportunities

• Know that you WILL have to do some public speaking – it’s how people get to know you and your business!

• Ensure that you have the time in your schedule to make weekly meetings

• Be willing to meet fellow members outside of regular meetings for additional networking opportunities (we recommend at least one 1-to-1 meeting each week)

• Be willing to pass (quality!) referrals.

Final Thoughts

Good referrals, passed through trusted business partners, are the key to growing your business. Each referral from a fellow member of BNI offers the opportunity to do business with someone who is in the market for your exact product or service. While not a guaranteed sale, the odds are much greater than with traditional marketing opportunities!

We’d love to hear the thoughts from current or former BNI members. How did the group help grow your business? Let us know in comments below!