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

3+1 = Member Success

From April 2014

A formula for transforming your chapter.

By Dr. Ivan Misner

What is the one secret to success in BNI?  The one secret is... there is no "one" secret.  In order for members to be successful in BNI there are four things that a member and chapter need to focus on (three core concepts and one theme that applies to each of the three core concepts).

For members, these elements are:

1.   Quality
2.   Growth
3.   Engagement
+1  Stories

1. Embrace Quality

Quality is first on the list for a reason.  The process begins by being very selective about who you bring into a chapter.  You want quality business professionals who have a positive, supportive attitude.  You also want people who are good at what they do.  Effective networking is also dependent on the quality of the relationships that you actually develop in the group.  If your network is a mile wide and an inch deep, you won't be getting the referrals you expect.  Therefore, it is important to build deep relationships with your referral partners if you want to generate more referrals.

In order to ensure quality participation, there has to be accountability in a group. One of the strengths of a good network is that many of the members are friends.  One of the weaknesses of a good network is, ironically, that many of the members are friends.  Friends don't like to hold friend accountable.  However, BNI is not a friendship organization.  It is a referral organization.  Thus, in order to generate quality referrals - members must hold their fellow members accountable for their participation in a group.

If you expect the best from your members, you'll get it.  If you expect less than the best from your fellow members, you'll get it.  Why accept mediocrity when excellence is an option?  Accountability in a group will help you achieve excellence.

The last part of "quality" that is important to mention is the application of our core philosophy, Givers Gain®, in a chapter.  The more members who live this philosophy (particularly as it relates to referrals), the more successful a group will be.

2. Grow Your Team

Years ago I learned that there is a dramatic correlation between the size of a quality group and the number of referrals that are generated by that group.  Groups under 20 do not generate as many referrals (proportionately) as do groups over 20. The math proves it.  If you have a group of 16 people, that group has 256 connections (16x16). [See Diagram A] However, a group of 32 people has 1,024 connections (32x32)! [See Diagram B]   In BNI, critical mass for a group begins in the 20s (the average chapter size worldwide is roughly 24).

DIAGRAM A 


















DIAGRAM B

This multiple of connections gets even more interesting as it gets larger.  For example, if you double a group of 24 members to 48 members, that group goes from 576 connections to 2,304 connections (double the size - quadruple the connections)! In a network, the number of relationships (or members) leads to a number of connections that is a squared multiple of the actual membership. I call this ratio of people in a group compared to the total connections that are created the "Squared Connection Effect."  Hence, the quantity of members truly makes a difference in the total number of connections and inevitably the amount of referrals that can be generated in a group.

The bottom line is that the more connections you have (based on quality relationships of course), the more referrals you generate.  For decades, I have seen groups that are twice the size of other groups in an area generate several times more referrals than their smaller counterparts. The math is pretty significant and consistent.

3. Seek Engagement

Engagement involves a promise and an action. In order to achieve success in a group, the members must promise to support one another and take the actions necessary to fulfill that promise.

There are many ways that members can be engaged in a group.  They all begin with the group as a whole being immersed in a culture of learning. 

• Has everyone in your group listened to the BNI Orientation audio material?  
• Have they all gone to Members Success Program training?   
• Have many members taken it a second time (or more)?   
• Do most of your members listen to the BNI Podcast?   
• Do they subscribe to and regularly read SuccessNet?   
• Is your chapter participating in the BNI FastTrack program/60 Days to Success?   

The higher the number of members engaged in these activities, the more likely the entire group will be generating more referrals.  The reason for this is a shared vision of success and a shared implementation of that vision.   

Another way to be actively engaged in a group is to do regular and consistent 1-2-1s (meet with members outside the regular BNI meeting).  Over and over, I see that members who do regular 1-2-1s tend to both give AND get more referrals.

Lastly, are you and your members doing really good introductions every week?  The best introductions are ones that focus on breaking your business down to laser specific elements of your business.  Sharp-shoot your talks; don't shotgun them.  Each week, talk about one key element, product, or benefit of what you do.

According to Psychology Today, research has found that people who are "actively engaged" in a business environment are "43% more productive" than those who are not.

Furthermore, they state that engagement includes "regular dialogue, quality of working relationships, perceptions of ethos and values of the organization, and recognition." Does any of this sound familiar to what is done in good BNI groups?  It should.  There's research behind our recommended action for engagement, and it's critical to the success of members in a group.

+1 Share Stories

The last piece of the "3+1 For Success" is to tell stories. Listening closely to your member's weekly presentations will help you in telling positive stories about your fellow members.  Doing regular 1-2-1s will help you to tell stories when you give referrals.  Think about your many experiences and write them down.

A number of years ago I met Robert Dickman, author of The Elements of Persuasion.  He taught me the formula for a good story:

1. A story is a fact


2. Wrapped in an emotion


3. That compels us to take action


4. That transforms us in some way

The key here is that a good story compels people to take action, and this action transforms or helps them in some way.  I always try to re-live a story, not just re-tell a story.  Make it sound fresh and alive.  That is an important aspect of storytelling.

Can't think of a story?  Look here at SuccessNet.  There are a ton of stories here starting with the "My BNI Story" section.

Remember that facts tell, but stories sell.  If you want to build your group in order to generate more referrals, overlay storytelling on top of your efforts.  This is particularly true regarding the testimonials you give at a chapter meeting.

3+1 = Member Success
1.   Embrace Quality
2.   Grow Your Team
3.   Seek Engagement
+1  Share Stories

Understanding this formula can change your group in amazing ways.  Share with me what resonated most with you from these ideas and/or how you think you can use these concepts in your group.  If you've experienced success already from practicing any of these concepts, tell your story!  

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.