BNI’s fundamental core value is Givers Gain®. Givers Gain® is an attitude which supports the bringing of referral business to others which means if everyone has that attitude there is business to be gained by everyone (including ourselves). This has the effect of reversing the networking disconnect*. That said, if you feel you are giving, but not getting, it can become dispiriting.
So, this week we are looking at what BNI is really worth to you, and not just in financial terms but in all aspects.
Why did you join BNI?
There will be many answers, none of them wrong, but for most it will be to receive qualified word of mouth referrals that lead to business.
*The Networking Disconnect is explained in a previous Education Moment and BNI Podcast #179 The Networking Disconnect.
How do we measure financial success in BNI?
Another core value of BNI is accountability and part of accountability is recording TYFCB when a referral has turned into business. If you are a BNI Connect Mobile App user, when you thank another member, the value shows in your app as revenue received. You can easily see the last 12 month’s value and the lifetime value of your membership. As long as you have been diligent about thanking others for internal, external and 3rd tier business (referrals of referrals) you have received the Revenue Received number in the app will be an accurate reflection of the financial benefit you have received from your membership. Only you can see this number. Some members also track their sales related to BNI through their own CRM or accounting system by recording the source of business.
In addition, the chapter reports a total sum of TYFCB and an average annual “seat value” can be calculated by dividing the last 12 months by the number of members in the group. This can be a headline number reported in the meeting for visitors as a reason to join. However, it’s important to remember that it’s an average which means very roughly half the members will be getting more and half will be getting less so some members will be doing well and some poorly depending on where they are in the VCP process (and that they are staying BNI fit!)
What else do we get from BNI?
Again, there will be many answers but while many members join for the qualified word of mouth referrals, most remain as members not just for the qualified word of mouth referrals, but for the other more intangible benefits.
Sometimes we forget what they are and underestimate the value of our membership, so let’s take a moment to reflect on what other benefits our BNI membership offers us by taking another look at the form.
On it you will see many of the benefits members report gaining from their membership. Check out your scores, your before and after scores will help quantify the intangible. If you have scored yourself higher in the areas on the form since you joined BNI, then you have and will continue to benefit from your BNI membership, especially if you continue to work at being “BNI fit”.
Reference: Podcast 297 – The Value of Your BNI Membership
BNI Assessment Form: https://bnipodcast.com/wp-content/uploads/2013/02/BNI-Assessment.pdf
