Hello all,
Anyone have any experience with BNI Networking groups. I’ve been asked to join one but part of me feels like it’s a scam. Anyone have any real life experience with one? Thanks!
Eric
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BNI = ?
[email protected]
I believe it stands for business network international. The site is BNI.com. It is basically a dedicated networking group that meets once a week and you pass referals to each other. Basically what most of us do everyday just on a more formal basis. That's all I know so far. There is some info in the archives if you do a search.
Eric
I was a member of BNI for a year or so.Good group overall. The problem for me was attendance requirements. Had to show or have a substitute to the meeting every week (lunch). I could not always drop what I was doing and go to the lunch.Did get a fair number of jobs and a few bogus leads.
Dan T belongs, I still need to call him about attending one of his meetings. I belong to A.M. Spirit, meeting is in the morning. I'ts worth it. A residential guy would make out like gangbusters. One of the things about groups like this is you have to participate & put yourself out there. I go to chamber events too even though I'm not a member. It takes time but pays off.
BNI (Business Networking International) is not a scam, but some chapters are better than others. I have been a member of a chapter in Huntington Beach for 3 years. I enjoy the weekly breakfast meetings (7-8:30am) which still leave nearly a full workday.
You don't say what your business is, so it's hard to say how helpful BNI might be for you. In my chapter, 30+ members generated nearly $750,000 of gross income for one another through referrals last year.
I am a handyman - easy for anyone to find referrals for me. Electrician in our group has gotten quite a few referrals too, as have termite guy and painter. Some chapters have a remodeling contractor. BNI has accounted for nearly 15% of my revenue the past two years, the rest came from Angies List, and referrals by friends and clients.
Check out the chapter's performance in terms of revenue dollars from referrals, what members are there who might be "power partners" for you - a good realtor, other tradesmen, insurance agent, etc. Don't be afraid to contact the BNI Regional Director to find out what chapter is the best in your area.
I was a member of one when I was in sales as an arborist. I am no longer doing that so i left the group. The contractor of our group had at least 3-4 referrals a month.
Like another poster said there were power groups such as the realator, insurance agent, house inspector, title loan and mortgage person.
A well run group will get you good referrals. We had a simple rule of no phone number no referral.
The chapters members are usually on the upper end of business sales skills, so if you give good referrals you will get good referrals and make sure you follow up immediately to build good will. Also if you become a member you need to put time in on the "one on ones" to meet the members and get to know them and thus better referrals.
It basically another sales tool to build your business and get good leads.
The ones in the morning are better for people in the trades because it can become difficult for midday meetings.
It may seem like a scam or a cult because of all the rules, but they are in place so you are not wasting each others time with bad referrals or inefficient meetings.
Steve
I was sniffing it out for my self a couple of years ago. In the chapter I was invited to the meetings were every tuesday at noon and often lasted a couple of hours. I decided that it was too difficult to commit to that kind of schedule. If my company was such that I was just managing the day to day operations from the comfort of an office and not be the laborer, carpenter, superintendent and CEO I could see doing it. But for this trunk slammer I would have been spreading myself too thin. Somebody suggested that the morning meetings might work better than a nooner and I would probably have to agree with that.
BjR
I saw this thread when it first came up but was in a hurry and forgot to answer it. I have been a member for 4 years. Our group meets 7:30AM till 9:00 AM every Tuesday.
The basic premis is that you are a member of a group and get to know other people who do business in other areas and so when you are asked who someone can call for lawn mowing, or car detailing, or printing etc. you have someone you know that you can recomend. We all struggle to find people to recomend that we feel comfortable with and this helps that situation.
I think our group is well suited for service type businesses and such but not so much for larger occasional purchases like cars, houses etc. We do primarily interior remodeling in the 3-30k range. A lot of bathrooms , some kitchens and general home repairs. We will do some light commercial general work like paint, ceilings etc.
Last year we did 90k in business that I can directly attribute to BNI. Most past years it has been in the 30k range. I have never done less than 10% of my gross. With the morning schedule I was able to go each week when I worked in the field, I just delayed the start of my Tuesday job and sent the guys ahead with directions on what to do. Like all networking situations you have to participate to see results. But is does work and for our company has been a real benefit. DanT
Eric;
Before I started my construction business I was in the computer industry and one of the organizations where I worked required participation in BNI and like minded networking groups. I found them to be cultish, weird and wasteful of my time. In my own business I don't go near them. I'm sure there are differences around the country, but it isn't my cup of tea.
John
Two of my guys are involved in it...they both say it is a good thing.
L
GardenStructure.com~Build for the Art of it! Decks Blog
I've been a member for 2 1/2 years and for me (remodeling/handyman type work) it's a no-brainer.They like to use the phrase "givers gain" meaning if you give the referrals you'll get them, but a better clearer way to think about it is that those 20-30 people that you meet with every week are like your sales force.If you give them clear indications of who and what you need - they'll give you referrals accordingly.For a on-man operation like I am, it is also helpful to put on the face of your business every Wed. am and "be your business". Makes you focus at least once a week on that end of it instead on getting too caught up on getting whatever job you're currently working on done at that moment.I've been in long enough that I always get a trickle of referrals every week or so and it's a good fit and a wise investment of time and money (costs between 250-330 per year + room dues of $15 month.It did sound shady when it was first brought up to me - but you get in there and realize it's just reg business folks all with the same goal of growing theirs and yours business.JT
You make some good points. I also should have mentioned that one of the things I like the best is talking with people who are in the same boat I am. Running a business can be a lonely road. All the decisions are on your shoulders and often you are trying to anylize stuff on your own.
At the BNI meetings I can chat about employee issues, days off, accountants, who has the best deal on trucks etc. with a number of people. For an hour and a half a week I have people who are in the same boat I am. Some times I need it, sometimes not. But a nice thing on those weeks when you feel overloaded by it all. DanT