BNI ? Pros, Cons, Indifference?

[Brendan]

Saw this in another thread...
BNI seems too cultlike to me. Too much homework.
Anybody else?
Id like to find out how effective it is.

 

[ChiknNutz]

I don't belong to BNI, but I have been part of LeTip for about 4 years now. We get a lot of business from it and have made very close friends with several in the groups. Find a local chapter and check it out.

http://www.letip.com/

 

[zmatalucci]

I'm in BNI, and I have pulled a decent amount from it. You do get some BS as people pass inferior referrals so they have the numbers up. I'm pondering re-signing as every Thurs. at 8am puts a damper on the days workflow. We will see!

 

[3dsignco]

I think it it is viable in the larger cities. We have a smaller one here that not a BNI and I alredy knew everyone that joined.
I have seen them try to start up a group here a few times and just to watch them flop.. Dues seem a little steep.. Almost reminds me of a pyramid scheme.

 

[thesignexpert]

Saw this in another thread...
BNI seems too cultlike to me. Too much homework.
Anybody else?
Id like to find out how effective it is.

I've been involved in BNI for almost 8 years now and generate a significant amount of business from the organization. Every year, my membership fee is paid within 2 weeks and the other 50 weeks is spent making easy sales from the referrals I get. It's kind of hard to argue with results like that.

As for it being "cultlike" or "too much homework"...? I'm not sure how you are getting that impression unless it is simply the contrast between an informal type Chamber mixer versus a structured / agenda type meeting. The BNI system is setup with a (relatively strict) agenda which is designed to get the maximum benefit from a set limited timeframe. Also, the organization is designed to encourage "relationship selling" which requires time and effort to build relationships with others in the group. Think about it, if you are thinking about referring your mom to a Financial Advisor wouldn't you want to REALLY know the guy?

Anyway, if spending a few hours a month building solid relationships with people , who will be looking for whatever type referral I want, nets me a bunch of good sales. I'm in.

That's my two cents for what it's worth.

Tim Evans

The Sign Expert .com
"Practical Help for Sign Professionals"

Pro Sign and Graphics
"A Pro Sign made Easy"

 

[Letterbox Mike]

Tim's advice is spot on. BNI is alot of work, but you get out of it what you put into it. It is not an informal, casual or social networking event, it is a serious numbers driven group and most of the members are serious about making it work. That's why they have fairly strict rules about referral quotas, missed meetings, etc.. We are a member of one BNI group that meets every thursday morning, and get a little over $300k per year in sales from it alone. It is our single largest income source by a very wide margin. We only have one salesperson (my wife) and 50-75% of her time is spent with BNI leads, the rest is chamber and other local organizations, and traditional cold calling. It's very, very effective if you work it hard, but you will flounder if you're not agressive with it.

 

[Gino]

Another vote for ThesignExpert's advice.

We’ve belonged to quite a few of these organizations over the years and the kind that are easy to work and are lenient on your missing meetings or your one on one’s are the programs that fail. If you don’t…. or don’t want to play by the rules, don’t mess it up for others that are sincere about their work and livelihood. In our area…. the LeTip people and PRE groups are a joke. Nothing more than a bunch of ‘Hen’ parties. Been to some meetings and belonged to some and I can’t trust someone that has excuse after excuse after joining something breaking all the rules, although knowing the rules going in. BNI is truly a great organization. My wife also… is big in our local BNI.

 

[Air Art Girl]

I personally cannot commit to once a week meetings. Been to the meetings to check out the group, know most of them but the time thing is just too much for me.

 

[Letterbox Mike]

To add to what Gino said, not to say anything about LeTip or PRE as a whole, but in our area we experienced the same thing while trying other groups out... Seemed like alot of part timers selling Mary Kay or air cleaners when they have the time between soccer practice, balet lessons and cookign dinner for the neighborhood's kids, and if they made one in three meetings that was good. They tend to attract these types of businesses, and work well for them, but there's typically a reason most "real" or big businesses send salespeople to BNI. Our group has 22 companies in it, and half of them are over $5m a year in sales, two are over $100m and one is over $250m. There's a reason they're there, so look closely at the members of the groups before you join and pick one that lines up with your business.

 

[wildhock]

Tim's advice is spot on. BNI is alot of work, but you get out of it what you put into it. It is not an informal, casual or social networking event, it is a serious numbers driven group and most of the members are serious about making it work. That's why they have fairly strict rules about referral quotas, missed meetings, etc.. We are a member of one BNI group that meets every thursday morning, and get a little over $300k per year in sales from it alone. It is our single largest income source by a very wide margin. We only have one salesperson (my wife) and 50-75% of her time is spent with BNI leads, the rest is chamber and other local organizations, and traditional cold calling. It's very, very effective if you work it hard, but you will flounder if you're not agressive with it.

Insignia,

You do $300,000 just on BNI referrals?

 

[Letterbox Mike]

Yes. We have the largest commercial realtor in our area in our group, we end up selling half of their clients signs. One of the larger development companies is also in the group. As is a commercial construction company, a commercial insurance company, a commercial vehicle fleet leasing agent, and a commercial loan/lease officer for a major bank.

 

[Bogie]

Okay... WTF is BNI?

 

[Letterbox Mike]

Business Network International

http://www.bni.com/

 

[cartoad]

We have a new chapter opening here, but I already belong to a slightly less structured tip group. We get several tips a week, some real good, some weak. Have a UPS store in the mix, so we all have at least one tip. Tips seem to improve the longer you are with it. Being a small organization it is sometimes quite difficult to be at the meetings so for me less structure is very good. Overall tip groups are very good for your business.

 

[Doyle]

I joined a similar group a couple years ago and bartered my way in, turns out they needed a banner for their open house night. But anyway, the group I was in was not large enough to really justify the time I spent at the meetings (they were held at lunch hour every Wed.)..... and the meetings always conflicted with my schedule. There were only like 10 members of the group.

The only conflict that I had with this group is that there are members from many different trades, caterer, realtor, insurance guy, attorney, etc and I had a hard time sending them leads when I already had good customers in these trades that I would send the referrals to first.

For instance, I have a long-time customer who runs a huge catering business. He is a great customer, and anytime someone needs a caterer, I will send them to HIM. But in the referrals group, there is another caterer.

All in all, I think the groups are great and worth every penny of the dues you pay. Networking is one of the main ingredients to your businesses success, and that is what these groups are for. What have you got to lose????

 

[Bogie]

The local sign franchise is one of the seven members in my local group...

Already stopped in the place, asking what they'd charge for laminating stuff, and turned out they only had a 30" lamintator (tm Dale). And they didn't seem too interested in using it either.

 

[gabagoo]

I used to belong to one in my area and it was OK although I have to admit that standing up in front of the same group to tell them what you do every week felt awkward for me. In a large city like we are in a lot of the referals were just to far away to be able to compete competitvely for pricing. After about 6 months I kacked out. It's not for everyone. The one aspect I was really not happy with was the way they would try to bring you in, everything is hush hush almost like those multi level marketers. Come out for breakfast I want you to meet some people...blah blah blah. Hey be up front and tell me what its all about or take a hike!!! I still get people trying to get me out to those meetings. Next are those barter companies....don't get me going on those!~~~

 

[Bogie]

I can deal with informal barter networks - been trying to locate a plumber to deal with some stuff who needs some vehicle lettering...

 

[Brendan]

Im glad I asked....interesting perspectives and I see that for the most part, the market area has a big impact on your success. I am in a relatively small market here. Not tiny but small.
I do agree that it is work in = work out. I wouldnt commit to anything I couldnt give 100%. I am the chief cook and bottler washer with my company so the commitment is difficult.

 

[Signsforwhile]

Old thread, but it's the only one solely about BNI.

We just joined. Looks like it will be a lot of work, but seems like the more you give, the more you get.