Gordy has Jeff Saunders with "Lady Baba does Promo!" on this week's episode of Tucson's Stars of Networking. They dive into the pros and cons of BNI as Jeff uses his expertise as a heavily involved member himself. Reach Jeff Saunders at jeff@ladybabadoespromo.com and (520) 419-5882
Networking has long been acknowledged as an essential activity for business professionals and entrepreneurs. Among the various networking organizations that exist globally, Business Network International (BNI) stands out for its structured and result-oriented approach to business referrals. However, like any organization or strategy, there are both advantages and disadvantages to being a part of BNI.
Importance of BNI:
Structured Referral System: One of the defining characteristics of BNI is its emphasis on a structured system for giving and receiving referrals. Unlike more casual networking events or meetups, BNI meetings operate on a set agenda where each member gets the opportunity to present their business and ask for specific types of referrals. This structure ensures that members are consistently provided with opportunities to promote their services or products.
Diversity in Professions: BNI chapters are designed to have only one representative from each profession, ensuring a wide variety of industries and professions within each chapter. This not only reduces competition but also broadens the referral base for each member.
Training and Development: BNI offers a range of training resources to help members improve their networking and business skills. Workshops, seminars, and online resources are available to members to enhance their capabilities.
Pros of Being a Part of BNI:
Regular Business Opportunities: The format of BNI guarantees that members meet frequently, ensuring a consistent flow of referrals. For many members, this results in increased business opportunities and revenue.
Professional Growth: Beyond just referrals, BNI provides a platform for members to practice public speaking, leadership skills, and sales pitches. Over time, this can lead to personal and professional growth.
Credibility: Being part of a recognized global networking organization adds a layer of credibility to your business. Additionally, BNI’s code of ethics ensures that members are held to high standards of professionalism.
Support System: BNI offers a supportive environment where members can seek advice, collaborate, or even form business partnerships. This camaraderie can be invaluable, especially for small business owners or solo entrepreneurs.
Cons of Being a Part of BNI:
Time Commitment: BNI requires a significant time commitment. Weekly meetings, combined with one-to-ones and other BNI-related activities, can be taxing, especially for business owners already strapped for time.
Membership Fees: There's a cost associated with joining BNI, and for some small businesses or startups, this can be a deterrent, especially if they're unsure of the ROI.
Pressure to Give Referrals: While the structured referral system is one of BNI’s strengths, it can also be a drawback. Members might sometimes feel pressured to give referrals, even if they aren’t of the highest quality.
Limited Representation: The one profession per chapter rule can be a double-edged sword. If your industry is already represented in a local chapter, you may have to look elsewhere or wait for a vacancy.
Rigid Structure: While many appreciate the structured nature of BNI meetings, others might find it restrictive. Some professionals prefer a more relaxed networking environment.