Why is Reporting Important? AKA If it's NOT Reported - It Didn't Happen!

In this article, we are covering reporting which is very important to every member in BNI.  Everything is tracked, so if your activity, i.e. CEUs, 1-2-1s, referrals, TYFCB, etc. are not reported, they didn’t happen!  Every member is responsible for reporting their activity each week prior to their weekly meeting via BNIConnect or the BNI mobile app.  With the BNI Mobile App you can report as you go during the week.

These weekly reports roll up into monthly and yearly reports. This data provides valuable feedback to chapters on their performance as reported by the Chapter Traffic Light reports. In addition to the Chapter Traffic Light reports, the Palms data also provides feedback on the individual members via the Member Traffic Light Reports AKA Power of One Report.

Resources:  These documents are listed in the Facebook Group Notably Green in the 'Files' section Reporting Program V2 - Understanding what to report based on industry What is a PALMS Report Individual Power of One Report and Explanation of Being Green

So, why is reporting important? BNI was founded on structure, which is one of the major aspects that makes BNI different from other networking organizations. Being able to give the statistics for the organization is one reason many people in business want to become part of BNI. Our reporting shows a successful track record. Anyone who is part of BNI knows our philosophy is Givers Gain. I recently read an article that talked about many aspects of BNI and how reporting demonstrates you're a contributing member of the group. It was a very interesting perspective. Here is the link - A Practical Litmus Test to Givers Gain. BNI members commit to the Givers Gain® philosophy, whereby they work to give business to their fellow networkers, trusting in the principle of reciprocity for the growth of their own business. By measuring members’ giving of their time through meeting attendance and one-to-ones, their trust through referrals, their commitment to chapter growth through inviting visitors, and their commitment to personal growth through CEUs, the Power of One report serves as a litmus test for whether a member is committed to the Givers Gain® philosophy and shows their contribution to their fellow BNI Chapter Members. Does your Power of One report show your commitment to the BNI Givers Gain philosophy?

Here are some additional resources: BNI Tools:The Traffic Lights The Value of Evaluating Why is the Palms Report Important A Practical Litmus Test for Givers Gain Obligation or Opportunity - A New Mindset Please contact your Support Director for any questions. In appreciation, Annette Area Director

Power of One Explained

 

The Power of One report is published each month. The report is compiled from the activity that is reported in the PALMS report for the previous six months. The report along with the Palms report shows the activity of each member. The Power of One report shows by points and color the level of activity of each member with Green being an indicator that the member is doing the level of activities to be successful. 

Statistics indicate that those members who are green typically earn 6x more than members not in the green. These activities include One to Ones, CEUs, visitors, sponsoring new members, etc. and if done effectively and efficiently are proven to help members build their business, get more referrals, and make more money.

Reporting is key, because both the PALMS report and the Power of One report are a direct result of members reporting their activities. Members are expected to report their weekly participation activity via BNIConnect on a weekly basis or use the BNIConnect Mobile app.

Recognition is a Core Value in BNI. Green Buttons are presented to those members who achieve Green on the Power of One Report each month.  Doing the recommended activities will bring members more success and a better return on investment. The Power of One report is for the previous six months of a member’s activities.

The Power of One Report is presented to each member of the chapter each month along with the criteria for the Power of One, i.e. the activities expected and how the scoring works.

The goal for the region is for 50% of Chapter Members to be ‘in the Green’ and no members in Grey. BNI is a marketing system to help members build relationships which leads to the trust of the other members wanting to help each other succeed. BNI presents many opportunities and education to help members understand how BNI works. BNI works if the member works. Often members are actually doing the activities, but aren’t reporting their activity. These activities are a good investment of a member’s time, if done effectively, and will result in more referrals and more business for the member.

What are the activities?

• Attend Weekly Chapter Meeting.  Arrive on time and staying for the full 90 minutes and having a sub when absent.

• 1 Referral a Week

• 1 One to One per Week

• 1 CEU per Week

• 1 Visitor per Month

• Sponsor 1 new member per year

Refer to the article 'Secret Formula for Success' for a more detailed explanation of each of these activities and why they are important to achieve success in BNI.

If you have any questions about any of this information, please ask your VP or your Support Director.

Are you Earning Points or Chasing Points?

 

At the first of every month, the Power of One Reports are published. They are made available on BNI Business Builder and listed under Resources > United States > GA Northeast. Many members do not understand the 'Why' behind the Power of One reports. It was created to give members a quick way to understand the Palms data and what the data means. To understand if they were being active enough and efficient enough to achieve their desired results. In this video, Tim Roberts explains the why behind the report and what it measures. He also goes on to explain why the activities for the Power of One will net you more quality referrals.

The activities as outlined by the Power of One report gives you the 'success formula, however, you also have to learn to be effective when you do these activities. Sure, you can meet with another member and chit-chat about different topics and that's a great way to start the relationship, but it's not until the other member wants to help find you referrals that the reciprocal part of the Power of One kicks in. As Tim explains in the video, it takes meeting with those potential power referral sources and training them on how to find you the quality referrals you desire. Teaching them what to look for, listen for, and how to start a conversation that will lead to a referral for you. Another good video to watch is with Hazel Walker, who asks the question, 'Are you earning points or are you chasing points?' We all want our Power of One report to look good with as much Green as possible, but are we really doing the activities effectively and efficiently? And are we reporting our activity accurately? Keep in mind also, to some members this is a report of creditability. Think about it, do you want to pass a referral to another member with a red or grey Power of One score? Listen to what Hazel has to say -

If you have questions about The Power of One Reports or need help and support, reach out to your Support Director Consultant. Here are some additional resources: Why is the Palms Report Important? Podcast #446 Five Money Making Activities in BNI Podcast #653 Achieving the Power of One Podcast #586 Power of One is about relationships Definition of Insanity For previous articles refer to the Notably Green Blog. And join the Facebook Group - Notably Green I encourage you to access the podcasts via BNI Business Builder so that you show up on the Leader board for your Chapter and your area. To make it easier, you can also download the app to your smart device. It's available from iTunes and Google. Also, be sure and report your CEUs, 1 hour = 1 CEU. Let me know if you have any questions and how I can be of help and if there are other topics you would like covered.   To Your Success, Annette Mason Area Director Consultant

Secret Formula for Success

 

There really is no secret.  You already have the formula.  It's just a matter of learning how to be more effective and efficient.

What I feel is the issue for most new members, is new members come into BNI thinking that BNI is going to be the Be All - End All for all of their networking and referrals. They think they are going to get a ton of referrals right out of the gate. The referrals are just going to fall out of the sky miraculously.  And they seem shocked to learn it's going to take some work on their part to either learn how to network effectively and efficiently and to un-learn past ways of networking that were ineffective.

I attended a webinar a few weeks ago and heard an interesting statistic from the presenter.  He said it's usually about the 3rd year that most BNI member's referrals and revenue really begins to kick in.  This was one of those Ah-Ha moments because most members aren't willing to give it that much time, must less do the work involved to get to that level.  We've always heard that members who renew their first year, usually remain members for 5+ years. But most new members give up and decide to leave about six months in when they have really not put forth the effort to be successful.  Most business coaches will tell you, it takes 3 to 5 years to have a profitable business.  Why would you think BNI is going to be an instant windfall of referrals and business?

So what is the Secret Formula?

Members who are Green report 6 to 8 times more revenue than those members in Red or Grey.

You see, BNI tracks everything and according to the statistics, the Power of One is the standard for success.  But, it's not just about going through the motions of doing the activities, it's learning how to do them the right way and that takes time and practice.  You've heard the phrase 'practice makes perfect.'  When you're trying to learn a new skill, how many times does it take before you get it right?  And once you get it right, you have to keep doing it correctly in order to achieve the results you desire.

So let's go through each one of these and break it down as to how to get more effective and efficient.  

• CEU - Chapter Education Unit.  Learn More to Earn More.  Another interesting statistic.  Those members with higher CEUs typically receive more referrals and have higher TYFCB. BNI is a marketing system that teaches us how to build relationships in order to grow our business.  BNI provides all types of learning opportunities via websites, podcasts, webinars, BNI Business Builders, Advanced Trainings, Monday Mugs, Live Help Friday, books, etc.  It's up to us as members to take advantage of these trainings.  So where do you start?  Start with the basics.  Even if you've been a member for a while, it's always good to go back to the beginning for a refresher. It used to be that every member was asked to complete MSP, Member Success Program, every year when they renewed. Did you complete MSP, Member Success Program?  It always helps to have a refresher of the basics. Did you attend the New Member Next Steps Webinar?  What about the Passport to Success Program?  Did you complete yours?  Do you have a Mentor? Talk with your Chapter's Mentor Coordinator and get assigned to someone who would be willing to mentor you. Ask yourself, where do you need help?  Is it more referrals?  How to improve your weekly presentation?  How to improve your spotlight presentation?  How to invite visitors?  Search for these subjects on BNI Business Builder, BNIPodcast.com, BNIPowerofOne.com. Seek out the people who do these things well and have a 1-2-1 and ask them for their tips.  These members could be in other chapters. Seek them out.

• 1-2-1s = More Referrals. In order to receive referrals, other members have to get to know you, like you, trust you, and want to help you.  How do you achieve that?  1-2-1s. And not just one 1-2-1.  It takes meeting with other members over and over to really get to know them and their business and learning how you can help them find referrals.  Yes, the BNI philosophy is 'Givers Gain.'  We have to give in order to receive. It also takes learning how to do an effective one to one.  You see a 1-2-1 in BNI is not just a 'coffee chat.'  It is not a 'one and done.' To truly have an effective one to one takes some preparation.  It starts with completing and exchanging your GAINS profile with the member you are meeting with prior to your 1-2-1.  You can also use the One to One Planner.  I was just talking with a long time BNI member the other day about this subject and he said, "I have a one to one with someone about twice a month, because it means 2 to 3 referrals each time." This is the 'secret sauce' for receiving and giving referrals.  It is the developing of the relationships with strategic referral partners with whom you can leverage referrals for each other. Your 1-2-1s can also be with other members from other chapters as well as with visitors. And by all means, have a 1-2-1 with your Director Consultant and pick their brain on what it takes to be successful in BNI.

• Referrals - Members are expected to pass 1 referral a week. If members are doing 1-2-1s consistently every week and learning what to listen and look for, it becomes second nature to find referrals. When they take it to another level and get proactive rather than reactive, they learn how to start conversations in order to uncover referrals for their fellow members. The other way to bring referrals to your fellow members is to invite visitors and make introductions.  Listen to your fellow members.  Who are they looking to meet?  Ask your contacts if they know someone in that industry and invite them to network. Use this reason for the invitation, is that you have someone in your referral group who is looking to meet someone in their profession for the purpose of passing referrals.  That introduction could turn into business.  And to receive referrals, a member needs to build relationships and build their creditability.  So, what does a Power of One score of Red or Grey say to your fellow members? How comfortable do you feel passing a referral to a member who has a Red or Grey Power of One score?

• Attendance - 80% of Success is Showing Up BNI is not the like other networking organizations.  You are not just a name of a roster.  Another interesting statistic, is those with low absences get more referrals. To get results from BNI you not only have to show up every week, but you also have to participate.  Because how you show up, is how your fellow members think you show up everywhere.  What does that mean you ask?  Do you show up late?  Or are you on time or better yet early?  Your fellow BNI member does not want to give a referral of his best client to someone who can't even get to a meeting on time.  Are you prepared each week? Part of showing up each week is to train your sales team on how to find you referrals.  Do you have a good weekly presentation prepared that describes that perfect referral for you?  Perhaps it's a story of a client you recently worked with.  Or a testimony from a client you helped. Or an interesting piece of industry information your fellow members could use to help find you a referral.  Participation also includes being engaged in the meeting.  Focusing on the speaker, not multi-tasking, texting, etc.  And since we are on Zoom calls, are you on camera, in good lighting, etc.  Dressed for a business meeting?  Have a good setting or a virtual background?  No distractions?  And back to participation - What other duties have you taken on in your chapter?  Part of building creditability is being visible and volunteering to help in needed areas. This helps to build trust and shows you are a dependable reliable person.

• Inviting Visitors - I covered this topic in last month's newletter, i.e. the value of visitors and how to invite.  Click here to read the article.

You see, you have had the Secret Formula for Success in BNI all along.  

It is just learning how to execute the formula efficiently and effectively 

to be successful.

If you or your chapter needs help and support, reach out to your Support Director Consultant.

Here are some additional resources:

First Year of BNI is the Hardest - Dr. Misner

Learn More Earn More - Tom Fleming

Proactive Referrals - Dr. Misner & Frank de Raffele

80% of Success is Showing Up - Dr. Misner

Power of One - Visitors - Tim Roberts

For previous articles refer to my Notably Green Blog.

And join the Facebook Group - Notably Green

I encourage you to access the podcasts via BNI University so that you show up on the Leader board for your Chapter and your area.  To make it easier, you can also download the app to your smart device.  It's available from ITunes and Google.  Also, be sure and report your CEUs, 1 hour = 1 CEU.

Let me know if you have any questions and how I can be of help.  

 

To Your Success,

 

Annette Mason

Area Director Consultant