BNI – A social business networking platform par excellence

by Steve Fisher on Sunday, August 9th, 2009 | No Comments

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Let me be clear about this before I start – I know of a lot of business owners who realize the importance of referrals, but don’t know how to go about generating referrals. Why – Even I have been found wanting here. Some of us even do it unconsciously, but never do we know the inherent strengths of good business networks.

A latest survey done extending during the period of the Sub prime crisis, when companies were busy filing for bankruptcy, revealed that about 80% companies who had good business networks and realized the importance of networking for business, came through unscathed. And as on date, they are sitting pretty, almost on their way to the top!

Networking groups can be of various kinds – Social, Emotional, and of course, business networking groups. In terms of your company generating business seamlessly, nothing works better than business networking groups. And this is where, BNI, a business referral organization, plays a very important role.

I had the opportunity to attend a session in one of the chapters of BNI, and in no time, I knew – Heck, why didn’t this happen to me before? The moment I finished my cup of coffee, I was subjected to a slew of conversations with people, who expressed their desire to do business with me. In about 15 minutes time, I could have 10 new business cards with me. And as I write, I have already booked appointments with 2 of them. Need we say anything more!

The meeting itself was so business-like. Everything, every proceeding and every event was timed to the second. The meeting gave the opportunity to the members to share their needs of business referrals, and to my surprise, the entire forum actively participated and by the time the meeting ended, almost 90% of the referral needs were answered.

The statistics session during the meeting was probably the most intriguing. And here is what I could assimilate.

Total BNI Chapters across the globe – 5300

Total Members across the globe – 140,000

Referrals generated across the globe – 56,00,000

Business generatedd in the referrals – $2 Billion (Did we hear someone say, Economic Recession?)

I know that Facebook, Twitter, Linkedin are all attractive social networking tools (And I have seen their effectiveness, as I have been using them for quite a while now). But in this world where every second matters, BNI Business networks deliver at a rapid speed.

Realising the importance of networking for business may not be enough. Taking up the cudgels and participating in it may serve you well. And as you give out your referrals and seek referrals from other members, you may as well smile your way to the bank.

Article author, C Vishwanathan having expertise in Financial Services, Internet Marketing, Healthcare and Legal Affairs. You can reach the author at cvishwanathan@1pointstop.net.

Visit the website of BNI at www.bni.com, for more information

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