Thank You For Closed Business (TYFCB) Notifications?
Members might ask WHY they don’t get a notification when another member thanks them for closed business. If fact, they might think it’s a feature that should be added to the BNI Connect System.
It’s a logical question and it makes sense that members might like to see it there and might expect to see it there. However, it won’t ever be added to the BNI Connect System in this way, as its exclusion is purposeful.
This is for several reasons: •Firstly, to keep who paid any money and how much confidential. This helps those in industries with privacy regulations to be able to record TYFCB. •For others, it can help members who are uncomfortable to share how much money they have made through BNI or what they have charged each member confidential. •In some industries, you might charge different clients different amounts and not want to share these charges with everyone else in the chapter or the member who referred the customer.
What Can We Do?
If members themselves want to let other members know via screenshot or an email that they’ve recorded the TYFCB (and the amount) from a referral, this can be a lovely way of showing your appreciation for the referral they gave you.
The new referral tracking system allows you to update a referral to say if you got the business or not. This notifies the member that you got business from the referral, this is an exciting notification to receive and then you also know that you can naturally expect to see an increase in your TYFCB total soon after you receive the GOT THE BUSINESS update, because the tracking system also prompts the member to load their TYFCB straight away.
How does TYFCB show on our member Dashboards?
It is easy to forget that when you record TYFCB, it doesn’t increase your own TYFCB total.
It increases the TYFCB total of the member that gave you the referral.
In true Givers Gain® style TYFCB recognises those giving rather than those receiving. It will always remain confidential unless you wish to disclose it yourselves.
However, your private revenue received number in the APP will increase, only you can see this total.
1. TYFCB is the amount of the turnover increase that the business receives from the referral.
2. TYFCB is GST Exclusive.
3. TYFCB can record those results from “Spinoff” referrals. In other words, an increase in turnover that results from being a member of BNI.
4. Ex-members cannot thank you for the business you give or continue to give them. They aren’t members anymore and don’t have access to our system. However, you can and definitely should record the business you continue to receive from them.
5. It’s best to keep up with recording TYFCB as you bill, invoice, or receive payment, whatever works best with your system. For instance, Xero allows you to “tag” a client as being a BNI client. That makes it easy to run a report monthly and record your TYFCB. Avoid members having to ask or chase you.