It’s polite to say Thanks!
Growing up, our parents tried to teach us good manners and one thing I was always taught was to say Thank You when someone did something for me.
What does saying Thank You achieve apart from satisfying a learned formality?
It encourages the person you are saying Thank You to, to continue that behaviour towards you and others. When we don’t say Thank You it can make the giver feel that you are ungrateful and/or unappreciative.
Why does saying Thank You work well at BNI?
In BNI, when we thank another member, we are making sure they know that the referral they gave to us resulted in business, was worthwhile and appreciated. We are saying Thank You, it was a great referral, and we are indirectly indicating that we would appreciate more.
Saying Thank You also fits well with BNI’s Core Value of Recognition.
There are lots of ways, informally, you can say thanks: by email, in person or by giving a small gift of appreciation. However, in BNI we formally do so by recording Thank You for Closed Business (TYFCB).
TYFCB is a defined metric that records a quantifiable level of business that a member has generated for other members. It helps us to work out how valuable a member is to the group. Recording of TYFCB assists us with BNI’s core value of accountability and of course it’s a great feeling to see TYFCB recorded against your name.
However, for it to work, the member who received the business needs to be “polite” enough to record it.
If you feel a member hasn’t recorded TYFCB for a referral you have given them, ask them if they have done it yet. If they continue not to, you are entitled to make a complaint to the membership committee.
TYFCB fun facts and tips
• It can easily be recorded through the BNI APP.
• TYFCB is the amount the referral has added to the sales revenue of your business (the invoiced amount). If you are an insurance agent or bank different rules apply.
• It excludes GST.
• You can also thank ex-members, for referrals of referrals (Spin offs or tier three referrals), visitors, Directors and across chapters worldwide.
• Record it regularly, at least once a month.
• The person you are thanking cannot see who thanked them or the amount you thanked them for, this is for privacy reasons. However, you can see in the app when your closed business increases and a member can email or tell you they have recorded TYFCB for you.
• TYFCB is a clear indicator to visitors that a BNI chapter generates real referrals and real business.
