BNI South West Midlands blog

Did You Know that Men Network Differently to Women..?

Wed, 11 Apr 2012 12:54:00 GMT

Last week saw a tremendously positive response for the ‘Business Networking and Sex’ presentations in Chester and Bridgend - sponsored by our good friends Referral Institute in Birmingham.

Most of us have heard the phrase ‘Men are from Mars and women are from Venus’ – there are hundreds of books out there that attempt to explain the psyche and reasoning behind the different sexes and how they behave.

Similarly, there is a lot of advice and information about how to improve networking and referral skills

Business Networking and Sex takes a unique approach to the ‘men are from Mars and women are from Venus’ argument by analysing the sexes in a networking and referral environment.

The book aims to provide some innovative advice as to how men and women can get the best out of networking with each other when it comes to business.

The content digs deep into the understanding of both men and women on referrals and networking, and explains the VCP process in detail. It’s hugely important in the world of business to understand where woman and men are similar and where they differ – in reality everyone wants the same outcome but males and females have different ways of getting there. The book outlines where we can gain some simple understanding that in turn will allow us all to be more successful in our networking and referral when working with the opposite sex.

Well worth a read, so see how you can improve your networking success...

Caption Competition

Fri, 29 Jul 2011 15:46:00 GMT

Caption Competition - what is the Monkey saying here..??? Please post your entry and the 4 best entries will receive free tickets to one of Jenni Henderson's Referral Institute Seminars. (Keep it clean. please...! )

£38,000 - and growing

Sun, 19 Jun 2011 16:52:00 GMT

We’ve all experienced it in the business world – you join a business networking group or participate in a networking session and come out disappointed because your business seems to be no further ahead than when you joined the organisation. However, this is not the case with the combination of BNI and Referral Institute – and they have the results to prove it.

Birmingham, UK (June 2011) –There is a misconception among many businesses regarding the concept of business networking. There is also a wide variation in the quality of business networking groups and what their members gain from them. “Business Network International in the Midlands area is all about the 4 M’s of BNI – “Members Making More Money”.

Bottom line is that professionals join BNI in pursuit of increasing sales and attracting new clients via referrals into their business,” says Peter Sylvester, Executive Director of BNI South West Midlands and Franchise Owner at the Referral Institute in Birmingham.

“BNI is an organisation of professionals to sell through, not an organisation of professionals to sell to”.

Last year, the average value of business passed by members on the region was £6,400 but as a result of the intensive focus on building increased value for members, that same average value has now risen to £38,100 – and is still growing..!

The notion of business networking has been misconstrued by many business professionals. Many of them are under the impression that business networking is all about making a sale or direct prospecting, meaning shaking hands and passing out business cards. But this is not correct.

In his blog, Dr. Ivan Misner, Founder and Chairman of BNI and NY Times bestselling author says, “If you are going to networking events hoping to sell something, you’re dreaming! Don’t confuse direct selling with networking. Effective networking is about developing relationships.

Dr. Misner says, “You go because networking is more about farming than it is about hunting. It’s about developing relationships with other business professionals. Sometimes you go to a networking event to increase your visibility, sometimes you go to establish further credibility with people you know, and sometimes you may even go to meet a long-time referral partner and do some business. In any case, the true master networkers know that networking events are about moving through the VCP Process™ and not about closing deals.”

This philosophy, along with givers gain®, is the foundation on which BNI was built and establishes a new trend in business networking. Not only does BNI provide unique opportunities for networking, it also offers state-of-the-art training and education on the proper ways to use business networking to increase revenue and grow a client base.

Peter Sylvester has expanded on this tradition by growing the number of chapters of BNI SW Midlands. Sylvester purchased BNI South West Midlands from the former owner in October 2009 and after a period of planning, has seen the numbers of chapters grow to 16, and the number of members increase to over 300. And the average business value increase to £38,100.

So this truly is a case of both Quality AND Quantity - Quantity (of members) and Quality (of the business passed between them). That’s a REAL double whammy..!

BNI sets a new trend in business networking by having a demanding acceptance process which includes the completion of an application, inclusive of references which are followed up on.

There is also an interview process for incoming candidates because BNI believes that it is important for members in a chapter to surround themselves with the best of the best. After all, members are putting their reputations on the line when they make referrals to their best client or to a friend or family member.

What makes BNI and BNI SW Midlands unique is that each chapter has only one member representative from each industry which shuts out any competition and allows for effective business networking. If business professionals want to join BNI South West Midlands they are encouraged to start a local chapter to help businesses in their geographical area grow their business through referral based marketing.

Those that take on leadership roles potentially enjoy making more money, having more fun, and have the advantages of personal development which is all rooted in higher Visibility, Credibility, and Profitability i.e., the VCP Process™, amongst their members and the region. BNI South West Midlands’ members can also participate in state-of-the-art training in business networking at the Referral Institute in Birmingham where Jenni Henderson is the Franchise Manager.

Not many businesses can say that they have a one-stop location for business networking, professional advancement through training, and sharing of ideas. Most people simply turn to a friend or spend a great deal of time trying to find the answer on the Internet. BNI SW Midlands allows businesses to grow despite the economy while saving time and lowering costs on advertising that may or may not work.

About Peter Sylvester and Business Network International:

BNI is the largest business networking organisation in the world and offers members and prospective members the opportunity to share business referrals or initiate a local chapter of BNI.

Peter Sylvester is the Executive Director for BNI in South West Midlands UK and Owner of the Referral Institute in the Birmingham region.

Peter is sought out as a local, national and international speaker on the subjects of marketing businesses by referral and organisational development.

Prior to beginning his career as an entrepreneur, Peter worked for Harley-Davidson Financial Services International Inc, establishing 17 joint ventures around the world

Visit BNI South West Midlands at www.bni-swmidlands.co.uk or Referral Institute at www.referralinstitutebham.co.uk .

My wife's shopping exploits...

Sat, 28 May 2011 11:45:00 GMT

Someone asked me the other day about the merits of radio advertising.

This is always a difficult one, and it's not just about radio advertising - so what has that got to do with my wife's shopping antics...?

Having a marketing plan and a budget to support it is absolutely vital to ensure that the business gets VISIBILITY.

However, knowing your precise target market - and ensuring that you are visible into THAT target market - is the key to ensuring that it is money well spent.

The important thing to remember is that YOU DO NEED TO SPEND THE MONEY, but you also need to be sure that the spend will get you the visibility in the RIGHT target market.

I always find that it is best to NEVER MAKE AN IMPULSE BUY - just do what my wife does when buying a new dress. See what you want when you go into the first shop, but then traipse around Solihull for four hours, looking in every shop to make a comparison, have a coffee, and then either go back to the first shop she visited and BUY (safe in the knowledge that you have done the comparison and are happy) - or GO HOME, with purse firmly closed..!

I suppose that's why BNI works so well - the chapter members carry out the quality check for you, and save you the time traipsing around the marketplace. They take you straight to your target market...

I wonder if there is a BNI member who can help Janice with her shopping exploits..?

Do you go to the Gym..?

Sat, 28 May 2011 11:10:00 GMT

A good friend of mine, Phil Berg, mentioned the other day that he regularly visits the gym, but the expected weight loss / muscle building didn't seem to be happening.

"What do you do when you are there..?" I asked.

"Oh, have a cappuccino, and take in the scenery whilst eating my pastry" he said.

We both looked at each other any laughed..!

We both realised that going to the Gym is a little like going to a BNI meeting. Think about it

Does joining a gymnasium get you fit ?                 NO
Does going to the gym get you fit ?                         NO
Does using the machines etc get you fit ?               NO
You have to go to the gym regularly and use the machines correctly

Joining the gym gets you access to the machines
Joining BNI gets you access to a highly successful product

Going to the gym doesn’t do anything if you don’t do anything when you get there
Going to BNI doesn’t do anything if you don’t do anything when you get there

Using the machines won’t get you the maximum return …

if you don’t use them correctly

Using BNI won’t get you the maximum return …

if you don’t use it correctly

You need to go, go regularly, and do the right things when you are actually there ...
only then, will you get your maximum return on investment !!

Food for thought - or is yours a cappuccino..?

If you would like to have a coffee with Phil, catch him at www.reachyourgoals.co.uk

Prompt payments - not all BNI members are idiots...

Sat, 28 May 2011 11:28:00 GMT

A BNI member told me the older day that he had done printing work for a number of his colleagues in his BNI chapter, but had not chased them for payment - he said " It didn't feel right..! " The consequence was that he had some invoices which were still outstanding after 8 months.

When I had recovered from choking on my bacon and egg, I felt obliged to point out the error of his ways - and tried not to tell him that he was being an idiot..!

CASH FLOW problems caused by bad and late payment is the biggest cause of business failure in the UK.

Most businesses that fail do so because they run out of cash not because they are bad businesses or lack the potential to be profitable.

Late and bad payment is not a new problem but it has been exacerbated by the recession and is a major problem for many businesses. But it is a problem that should never occur within the BNI member family..!

At BNI, being supportive and acting professionally & ethically to fellow members is at the core of the BNI code of ethics. And it is great to see so many cheques in payment for services being passed across the table at BNI meetings across the country each and every week.

Non-payment of an invoice is considered a major breach of those ethics, and puts the member at risk of instant removal from the chapter

Meanwhile, officials from the Department of Business, Innovation and Skills are touring the country trying to get companies and organisations in both the private and public sectors to sign up to the prompt payment code by visiting www.promptpaymentcode.org.uk

Paying legitimate invoices promptly from fellow members, and non-members for that matter, is something that BNI members should all be doing – but it is worth knowing about the payment code.

It is not just the right thing to do but could be the difference between survival and failure for BNI members. That’s why the BNI South West Midlands region is signed up to the code – and is proud of it..!

Are Business Plans just for "Bankers"..?

Sat, 28 May 2011 11:29:00 GMT

A good friend of mine, Mike Belham, recently made a great blog on his website. This is what he said...

"My nature is to be a thinker and a planner. I need a road map of where I want to be and how I intend to get there. My friends and colleagues whose nature is to be a ‘go getter’ can find this a bit frustrating.

When planning my own business, one of the first things I did was to write a business plan.

To many the writing of a business plan is something you are forced to do when you need to raise capital from your bank manager, but I strongly recommend you to write one if you haven’t already.

Here are some key components to a business plan:

What is your business about?

What service/product do you sell?
Who are your competitors?
Why would your customers buy from you and not your competitors?
Set some business goals
What is in it for you

Know your customers

Who will need your product or services?
How would they look for your product or service?
Do you need new customers for each sale or will you get repeat customers?
What do you estimate the average order value to be?

Your business Finances

What are your monthly overheads (All your expenses that exist whether or not you get any sales)?
What is the cost of each sale?
How much do you need per month?
Work out the net income per sale (your sale value minus the sale cost) and divide the combined cost of your monthly overheads and monthly wage by your net income per sale. This will give you a guide to how many sales per month you will require to break even.
If you want to invest in new equipment or premises then divide the cost of the investment by your net income per sale figure to work out how many sales would be required to finance the investment.
By adding the number of sales required together you can set a minimum yearly target.

Your marketing plan

You should now know who your customers are, what they need from you, how they might find you, and roughly how many customers you need to find. Your marketing plan should include:

Methods for reaching those customers
How you intend to track results from those methods
A plan with dates and milestones against which you can measure progress.

Don’t be afraid to change and amend your business plan

If you find that bits of your business plan are not working in the real world then you need to take a fresh look, fix it if you can, and try something else if you can’t.

Changing your business plan is not an admission you got it wrong, but it is a vital part of nurturing your business to full growth.

Don’t keep it in a locked drawer

I strongly recommend that you gather a small group of close friends around you from the business community who are willing to help and advise you. They are always a good starting point when seeking advice on my business plan.

I have tried the paid advisor route and do have some excellent professionals who I would recommend to anyone, you can find links to most of them at here: http://www.truelight-services.co.uk/links.htm

WISE WORD INDEED, MIKE...

Social Media

Sat, 28 May 2011 11:31:00 GMT

As you may have noticed, over the past couple of months BNI has delved into the world of Social Media – and it has proved extremely successful. Here at BNI South West Midlands, we like to ensure we put the member first, and this is just another way of doing so.

We did have a reasonably slow start – but now we have over 90 followers on Twitter, over 80 friends on Facebook, and 60 people following our Facebook page. This week though, following the release of the updated Facebook ‘groups’, we are seeing people across the region swapping details and finding our new experiment extremely useful. Here’s to hoping this continues.

For those who don’t know Social media websites very well, it is simply a myth that you can only use these sites for personal use! Setting up your own business page can increase visibility by such a massive amount – here are some Facebook facts:
•   More than 500 million active users
•   50% of our active users log on to Facebook in any given day
•   Average user has 130 friends
•   People spend over 700 billion minutes per month on Facebook

Admittedly, this is worldwide, and everyone can tell that you aren’t going to receive business off every single person on Facebook. But if you already have the contacts and target market, what better way than Social Media? You’ll probably find a lot of your contacts are using Facebook, Twitter and LinkedIn now to try and increase business. Regular, interesting updates can really capture a reader’s attention and attract them to your business. So, if you’re already on Facebook or Twitter, but aren’t following us, why not join us?

Twitter: @BNISWMidlands

Facebook: Add Bni Swmidlands to be invited to the group.

Not yet on these sites? Don’t hesitate to contact me through the contact number or via e-mail at tom@bni-swmidlands.co.uk if you need any tips or help setting up – I’d be delighted to help.

Tom Knibb

Culture

Sat, 28 May 2011 11:41:00 GMT

IT is worth remembering that BNI is an acronym for Business Network International!

As this implies BNI is an international business, indeed, it’s a global business working in every corner of the world.

Those of us who travel on business or on holiday will be aware of the different cultures in different countries and of the need to be aware of this in our dealings with people.

It is well worthwhile keeping this in mind especially when we are talking to potential new members about how BNI membership can help them.

Taking a business across borders makes it important to be aware of cultural differences and sensitivities.

A comment that can often be heard about BNI is that it is ‘too American’ and we have to be mindful that BNI has its origin in the United States.

Whilst we share many things in common with our friends ‘across the pond’ there are some cultural differences. By and large Americans are brasher, more outgoing and ‘in your face’ than us more subdued Brits.

There are also people who are put off by the term chapter because of its somewhat Masonic connotations.

As BNI operating in the UK we need to reflect the culture in which we operate.

We must stay true to the universal principles that make BNI a global success but be mindful of local culture in our presentation and style.

The cost of Networking...

Sat, 28 May 2011 11:44:00 GMT

AS business people we are called upon to make choices almost every day of our lives in which different considerations need to be balanced.

Much has been made of the current high level of national debt. It is not desirable for individuals, business or countries to be saddled with excessive levels of debt.

On the other hand it is important to keep the issue in context. The level of national debt half a century ago when Harold McMillan as Prime Minister was telling us that we had “never had it so good” was 150% of GDP – considerably higher as a proportion of national income than it is now.

We are not out of the woods yet but if the fragile signs of a recovery are sustained then a sigh of relief will be called for because had it not been for large scale government interventions not only in the UK but all around the world then a very serious recession would have turned into a deep global depression.

The implications of this would be huge for all of us and future generations – put in this context high levels public borrowing provided there is a credible plan to deal with it may well prove the lesser of two evils.

Looked at this way a cost can easily and with justification in certain circumstances be seen as an investment.

BNI membership should be seen in the same way - as an investment rather than a cost and it is an investment that has helped many businesses to survive the downturn of the past two years.

The most obvious and tangible return on investment is the contracts and orders that we win as a consequence of our membership. But the benefits go beyond that and if we put a price on the training then the business case becomes even stronger.

Perhaps just as important are the intangible benefits that come from the support and advice that we get from fellow members. It is hard to put a price on being around supportive and like-minded people.

Working well BNI members are more than an extended sales force – they really can be the Board that we otherwise cannot afford.

A good customer is like gold dust and should be treated as such.

Sat, 28 May 2011 11:45:00 GMT

ONE of the first things that any marketing student will learn is that it costs on average eight times as much to win a new customer as to retain an existing one.

A bit like football where it is easier to stay in a division than it is to win promotion.

The message for businesses is very clear and even more so in troubled economic times – do everything that you can to keep your existing customers. A good customer is like gold dust and should be treated as such.

Working within BNI we should regard our fellow members as valued customers with whom we build long term relationships to mutual benefit.

The great differentiator of the BNI is that our networking is relationship based in contrast with other networking groups which are much more akin to one night stands.

It has been said that businesses are either product or customer led. In simple terms a product led business has a product or service that it then tries to find customers to which it can sell.

On the other hand a customer led business makes real efforts to discover what its customers want and sets out to meet that need.

There are no prizes for guessing that it is the second kind of business that can expect to do best.

We live in a world that is full of businesses that fail despite providing an excellent product or service that no one seems to want to buy.

As the saying goes – there is no point in having the best white shirts in the world if no one wants to buy white shirts.

Growth is the entirely laudable objective of most businesses but this should come on a solid foundation.

Expansion that leaves behind its existing customers and leaves them unhappy is a recipe for failure.

Toyota will pay a heavy price for leaving millions of unhappy customers as a result of a bid for growth that has left its core values or reliability and build quality on the hard shoulder.

To get the best out of BNI we remain faithful to the core values of “givers gain” of “farming rather than hunting.”

Access to Finance

Sat, 28 May 2011 11:48:00 GMT

Even at the best of times many start up and even successful businesses find it very difficult to get loan finance to support growth or support cash flow.

The ability to get funding is proving even more difficult in the current economic climate but there are alternatives that are worth considering.

In the first instance it is always best to talk to a mainstream lender such as one of the High Street banks and your first port of call will be to speak to the bank member in your BNI if you have one.

If this is not successful consider speaking with one of the funds that exist under the umbrella of the Fair Finance Consortium.

The Fair Finance Consortium was set up by the regional development agency Advantage West Midlands to help businesses that need funding but that the traditional funders have for whatever reason refused to support.

There are various funds, know as Community Development Finance Institutions (cdfi’s) covering the whole of the West Midlands and offering loan finance ranging from as little as £5,000 to a six figure sum.

Finance for the funds comes from Advantage West Midlands and also from the European Regional Development Fund. The funds also borrow from the commercial market including the banks and also reinvest the profits they make on loans.

Loan finance from a cdfi will not be right for everyone but it can be a good way to fund growth and support cash flow.

For more information visit www.fair-finance.net

£5.5 million worth of business

Sat, 28 May 2011 11:30:00 GMT

BNI South West Midlands has had a fantastic 2010, during which we have received a prestigious award for adding member value - and now we are finishing on another HIGH ..!

The latest figures show that the average value of business passed amongst our members has risen from £6,129 in April to £18,499 - THREE TIMES MORE IN JUST 9 MONTHS.

It seems that BNI is a GREAT place to be during a recession..!

Congratulations to all members for this exceptional performance - 2011 is going to be really good..!

Royal Spa Business Referral Meeting 12th October 2010

Thu, 14 Oct 2010 10:02:00 GMT

Notes from the Royal Spa chapter of BNI. A weekly business referral meeting in Leamington Spa, Warwickshire.

A fresh and lively meeting, although the early mornings are becoming darker, it's testament to the drive and ambition of the members that they were there and in fine spirits soon after 6.30am.

Announcements included the business passed in the chapter, year to date has passed £140,000. A great total, and the target for the chapter is to push this beyond £200K by the end of the year. If you think you could benefit from a share in the business passed between members in Leamington Spa, then do get in touch and come along to a meeting.

There was again a healthy number of referrals passed at the end of the meeting, some great opportunities to look out for in the coming weeks and months. We appear to be well on our way to achieving our targets. On that note, chapter director Tim Latham presented the chapter with our overall targets for chapter growth, membership retention and business passed for the coming six months of the new leadership team.

Although challenging, all the members agree that setting our sites high is the best approach. With John Cleary monitoring the KPIs of the group we certainly hope to be on an upward curve to success.

Our thoughts are with Tony Herbert of print2please, who is currently in hospital for an operation. Our thoughts are with him and we wish him a speedy recovery.

Rowena Wilson www.rowenawilson.com gave our ten minute presentation today about her make-up and cosmetics consultancy. Rowena trained at the renowned London School of Beauty and Make-Up and London College of Fashion, she has become a M.A.C Pro and member of the Freelance Hair & Beauty Federation but, more importantly, a trusted advisor on cosmetics to many women and businesses in the fashion and beauty industry.

Rowena is dedicated to making brides look and feel their most beautiful on their wedding day. Her experience in photographic make-up and use of top brands such as MAC, Chanel and Bobbi Brown will ensure that the photos always look fantastic.

"Its important for your make-up to enhance your natural beauty and complement the day's theme and so I always recommend a make-up trial where we will try different products, shades and looks. On the wedding day I will arrive at your venue in good time and will work seamlessly so that you can relax and enjoy these special moments, all the decisions already taken care of."

If you are getting married abroad, or would prefer to do your own make-up, Rowena can provide a special wedding day make-up lesson.

For more information about Rowena Wilson and how she adds value to her clients, please visit www.rowenawilson.com

Cheltenham business group has made a flying start to the year

Tue, 09 Feb 2010 10:21:00 GMT

The Cheltenham Business International Group calculates that it generated £150,000 of business between its 30 members who meet every Friday morning at The Hatherley Manor Hotel.

“We are generating thousands of pounds of business every week within the group which is making a real difference especially at a time of recession,” said Jenny Stewart, Director of the Group that has been turning contacts into contracts for 10 years.

“Despite the tough economic situation we estimate that our group was responsible for around £500,000 of business last year.”

Every morning of the week in cities, towns, villages and hamlets all over the country businessmen and women are stretching out to fiddle with the alarm and resisting the temptation to grab an extra hours kip or cuddle time!

They are part of an international sales initiative that has taken the ‘art’ of networking to a new level and is turning contacts into contracts for thousands of businesses.

Business Network International (BNI) is a global phenomenon that has taken on an enhanced importance as businesses and organisations look to innovative ways to win orders under the cosh of the global downturn.

The principle behind BNI is one of ‘givers gain’ in which businesses work together to share contacts and leads as part of a joint sales force.

Unlike many networking organisations a BNI group works within a structure, which brings members together for breakfast one day a week for a business sales meeting.

Each group is made up of up to 50 professional and trades people in which only one member can represent a particular activity.

Supported by an ‘earn and learn’ programme is which training is given members get to know about each other and use their contacts to share contacts and business opportunities.

Meetings begin at 7am and follow a set agenda that means they are all over in 90 minutes leaving members free to for the business day. Each member of a group has the chance to make a short sales presentation and the climax of each meeting comes when referrals are shared.

“It is a proven formula for success that has been refined by experience over many years,” said Peter Sylvester, who owns the BNI franchise in a large area of the south and west Midlands.

“It enables a group of people to work together as a collective and provide a joint sales force. It requires commitment and is not a quick fix but works on the basis of building relationships between businesspeople where there is trust, understanding and mutual support.

“Compared with other marketing activities BNI is a highly cost effective way of winning work that also results in long term business relationships and friendship.

“The recession has forced many businesses to review their marketing strategy and this has provided an opportunity for BNI.”