<>

Have you ever noticed how the world’s tallest building is always built during economic boom and then a recession follows straight afterwards? Think of the Burj Khalifa and many other structures.

Economic trends are cyclical. Hence, tough times and boom times will continue forever.

During the good times companies do not tend to invest in marketing because they don’t need to – sales are good.

In tough times, they don’t invest because they can’t afford to.

The great thing about your network is, it is not effected by market trends it is there during the good times and the bad, always working for you. Well, it is if you develop it….

Start looking for those key relationships and develop them now. There’s never a perfect time.

The best time to invest in your network is NOW

Mike gives us his second tip from our trip on the mountain bike trail

<>

<>

In the last two weeks I have received two very interesting business cards.

The first had it’s email address spelt incorrectly and in fact the card wasn’t even of the person who gave it to me, it was their bosses. Apparently the boss didn’t network but was happy to send his staff in his place with his cards.

I received another card today from a quality certification body with a gmail address rather than a company branded email.

What are your thoughts on these subjects? Does it effect your perception of the company/person? Does it even matter?

please comment below

Matt Farr, one of my clients, the other day chuckled “Hey Phil, I still have you down as ‘Phil Business’ in my Phone.”

I had been introduced to Matt by my personal trainer, Santa. Matt was looking to open a business and be registered in Dubai (he arranges treks to Nepal). He was having all kinds of problems.

As it turned out, Santa realised that I had a large network, because I had been able to connect him to the right people for a few requirements he had had over the past year.

So when Matt was having problems setting up his business, Santa connected me to him. Over a number of months, I was able to help Matt with a few introductions and key connections to facilitate his business set-up.

He became intrigued as to why I was so well connected and ended up attending one of my Referral Institute programs.

Now Matt is one of my clients.

While it was not my first intention to sign Matt up as client (after all I didn’t know him), my initial intention was to help Santa. However, in a universe where ‘what goes around comes around’ I am really not surprised.

It is interesting, on reflection, that the whole thing started by me helping my personal trainer to get a quote to move his flat.

I have, over the years, set myself up as a gate-keeper (i.e. someone who has a large network and is willing to share and help others).

Gate keepers become a centre for a business. The “go to” person whenever you need something. Gate keepers are aware of all kinds of information; they support others and hence become a great source of referrals.

So I ask again… “How are you listed in other people’s mobile phones”?

As a BNI member myself one of things I have always liked is the incredible names many of the chapters have.

e.g. Legends, Kaizen ( continual improvement by small increments), High Flyers, Winners etc.

They “scream out” success, hope, high achievement, team, commitment, continual improvement.

The very elements that make a successful chapter

The names are very much a symbol of the dedication and focus of the members who first started the chapters. In a way just as the Pharaohs left us the legacy of the pyramids. If you have ever been part of a chapter launch you will know exactly what I am speaking of.

How are these legacy’s being treated, are the Pyramids being cared for?

I wonder how many members actually think about what their chapter name means. Do they live up to that dream of success?

I suggest any members reading this to have a think about the name of your chapter and ask the question.

Feel free to use this formula. It is a brief version of the Referral Pipeline calculator from the Referral Institute Referral Pipeline course. I use this for new BNI members to get their Mindset of giving, training and contribution from the start.

Use this when the Chapter President ( Chapter Director ) sits with the new members for their induction after being accepted into the chapter.

1 Imagine in 1 years time when your renewal is up . What is the amount you will have earned that will make you hand over the renewal fee immediately no hesitation?. Have they even thought about it? Get them to consider , membership fees, their weekly payment, their hourly rate for time invested. The profit to make it worth it. I normally want them to be about 170,000aed ( $46,500 ) +

2 Ask,How much is the value of 1 referral to your business average ( people will tell you they can’t do it because they have low and high fees. Reiterate AVERAGE )
a. Calculate number 1 divided by number 2 =number of closed referrals needed each year

3 What is your closing % . i.e from each 10 referrals how many will you close 1in 10 = 10% hence they take the value of 0.10 and x 2a above = number of referrals needed to hit their target.

4 How many weeks will they be at BNI 50 ? or 48?

a. Divide number 3 by 50 or 48 = how many referrals they need to receive each week

5 Here is the kicker- based on Givers Gain if they want to get 2 referrals a week guess how many they have to GIVE = 2 ?
( this may fluctuate depending on average business value and industry but the idea is the same )
For anyone who is concerned at this point remind them that BNI has training and support to help them achieve this as part of the membership.

If you want to see a more accurate calculator here is a link feel free to use or share it.
Good luck

When we are kids we are told to try an try again to get good at something. As adults we attend a training session once and think we know it all.

Doing any course twice, just like watching the same film twice will revile many new learnings and things we missed.

I suggest what ever course you attend whether Referral Marketing, networking, cookery or dance. Do it again.

Now back to my “Peter and Jane ” book:)