BNI

[djs]

The BNI structure is pretty easy to duplicate. They got it from somewhere, and others have copied them.

In general though, the name and the realization it's an organization helps lend credance to the fact its credible and it's easier to get people to join and take it serious.

It's somewhat like having a McDonalds vs having Jim's Burgers. Jim's might be a better burger, but McDonalds offers a known thing. Now, BNI is not McDonalds, but they do offer the help and guidance in making a successful networking group. That said, you can definitely do this without them.

Dan

 

[midwestbroker]

There was a local guy in KC that did a FREENI group that met every Tuesday morning at the same restaurant.

The problem with it was 90% of the people there were MLMers. So, after hearing how great pre-paid legal was, how drinking this vitamin thing was going to make me feel great, how diabetic chocolate was the next big idea, etc etc...I did not go back.

 

[Nttwrkz LLC]

You are so funny!

Unless it is a brand new BNI group, and you are the first Insurance person in the group, you are wasting your time. I have been in and out of many BNI groups, here in Atlanta, and I can tell you, even though I was the insurance professional, I found out that many of their "actual" leads were still going to someone who was no longer in the group, but still friends with many in the group.

You will get every diabetic, gout-ridden, gangreen, cancer-surviving, heart stroke rehabbing, shingled, depression medicated, anxiety-attacked, chemical-dependent, ADHD, Manic-Depressive, fybromyalgic, asthmatic, cataract-visioned, muscular-atrophic, cystic-fybrotic, downe-syndromed, and morbidly obese (wanting lap-band surgery) friend your fellow BNI'ers can think of.

The really qualified, wealthy friends will go to the guy or gal, who is no longer in the group, and it will be a very long time before you catch on.

The only insurance agents who actually stay in BNI groups are ones that are with agencies, who pay for their membership.

You are better off starting one of your own. Meet at a deli or IHOP to begin with. Call your local State Farm, Allstate, Century 21 or PrePaid Legal person, and tell them you are interested in starting a leads group. No fee to begin with, until you guys get organized and start to get at least 10 people attend on a regular basis.

Here's the Agenda:

30 Second Introductions: who you are, your company or product, what a good lead for you would be, and what type of businesses you call on.

Leads: a company you called on, who was not in need of what you provided, but showed interest in being called on by someone at the table. Pass the lead ONLY if you've already spoken to the business owner, and they know that someone from that industry is going to call them, and make reference to your name.

Presentation: someone in the group gets 20 minutes to make a mini presentation to everyone else. This helps you keep your "radar" up, when you are speaking to people throughout the week.

Go dutch treat. I have never believed in paying several hundred dollars to participate in something like this. If you can't find a diner or IHOP, see if a church can spare a room for an hour. Tell them you would like to open it up to members of the church, who want to grow their business.

Paying $500 a year for a card file box and three part lead paper is an absolute ripoff.

 

[Steve]

I have a different take on BNI. BNI is the biggest and most successful networking organization of it's kind in the world for a number of reasons -- Structure and training being two of the more prominent. There are many networking groups out there, and many of them can work well for different people and purposes, but BNI is different from the rest, and attempts to split from BNI and "make your own at the IHOP" fail at providing the referrals and consistency you can get from BNI.

DJS said BNI is more productive for a newer agent than someone in it for over five years, and I'd agree with that, but his take on the time committment is different than mine. 1 1/2 to 3 hours per week that can bring me one or two good referrals per week is time well spent for me. If your getting the "diabetic, gout-ridden, gangreen, cancer-surviving, heart stroke rehabbing, shingled, depression medicated, anxiety-attacked, chemical-dependent, ADHD, Manic-Depressive, fybromyalgic, asthmatic, cataract-visioned, muscular-atrophic, cystic-fybrotic, downe-syndromed, and morbidly obese" leads that nttwrkz is speaking of, your not directing your fellow members correctly towards the referrals (not leads) that you seek.

Is BNI for everybody? No way.
Does it work for those who work it? You bet.
Am I a member? Yes
Will I be forever? I will be for as long as the referrals come in at the right quality and the right pace.
Network marketing brings in the best quality client. It doesn't have to be BNI, but it works for me right now.

 

[theinuranceguy]

I have a couple of diabetic, gout-ridden, gangreen, cancer-surviving, heart stroke rehabbing, shingled, depression medicated, anxiety-attacked, chemical-dependent, ADHD, Manic-Depressive, fybromyalgic, asthmatic, cataract-visioned, muscular-atrophic, cystic-fybrotic, downe-syndromed, and morbidly obese clients....

Thank God Medicare Advantages only have one health question!

 

[fjman]

BNI has been working for me recently but not initially. It took a while to recognize the opportunities. Some very successful networkers are terribly unsuccessful people. If you identify the successful memebers, you have a green light to set up a meeting with someone that generally has good income and an open ear. If you have an open afternoon or morning (none of my prospects or clients care to hear from me at 7AM) go visit a local group and see if there is anyone you want to meet up with later. Sometimes I call up a buddy of mine and we visit a group together. I joined an established group that sucked and recently left it to help build up a new group. This has been much better and I've only been with the new group for about 3 weeks

Where in VA are you? If you're in NOVA, come visit my group and get a feel for it. Do I network with mary kay, prepaid legal-crapola and pamperchef people, generally no but never assume they do not know the people you DO want to meet or that their spouse isn't a successful professional. I mainly work with my banker, mortgage lady, realtor, attornies and call ALL of the visitors. I look at visitors as leads and the almost exclusive source of any business from my first group.

I've rambled on. Visit some groups and schedule meeting with teh members/visitors you'd like to meet. They will generally say yes and you don't even have to be a member yet. Good luck..

 

[Steve]

Do I network with mary kay, prepaid legal-crapola and pamperchef people, generally no but never assume they do not know the people you DO want to meet or that their spouse isn't a successful professional.

Good point. My group has the professionals (CPA, Dentist, Chiropractor, Attorney, Optometrist, etc.,) along with others who are great to network with, and our Mary Kay rep is a fantastic resource. She know how to find, qualify and provide excellent referrals. She is well connected, established and respected. It's not always the profession that they're in, but the "crowd they hang with" and the drive they have to be a great networker that counts.

 

[Bob_The_Insurance_Guy]

Steve,

I won't take your slant personally. I am glad BNI is working for you.

I do qualify what a good lead for me would be, but you have to remember, that there is pressure to provide a certain number of leads, or else you are "kicked off the island".

These people don't want to get kicked off, so they throw something my way, that qualifies as a lead, and they're off the hook.

I've actually found that going to Meetup: World's largest community of local Meetups, clubs and groups! - Meetup.com has worked better. There is no huge fee, and they meet regularly, and don't make you pay several hundred dollars, just for a file box and three-part lead slips.

You basically pay as you go. Every event has a entry cost associated with it. Either $10, $20 or $30, depending on the event location. Some are free. You are asked to bring a handful of cards to pass out, and a paper and pen to write with, mingle, network and have fun.

BNI, and their sister ripoff lead source, POWERCORE, are huge machines that bring em in like Amway.

First off, you have to pay $8 - $9 for a meal at the restaurant they meet at. Then, if you join, that's another several hundred. Then, there's the gas to get to and from, because you have to show up at every meeting, or have a replacement in your stead ($3.80 a gallon), just to get a lead for someone who only qualifies for a Mini Med plan, with your commission being $7 a month.

Then, if they want to have a "group outing", you have to pitch in for that - it doesn't come with the dues, in fact nothing does. When I asked them why I couldn't pay on a monthly basis to join the group, they told me it was to keep out the riff raff. In other words, I was only as good as my upfront money.

Niiiccee!

I went as a guest to one of the meetings, and was approached by a few of the members for leads, even before I joined. when I asked if I could get a lead from them, the response was, "Well, until you join, we really can't do that."

So, I need to pay you my dues, all up front. Pay for an overpriced meal, give you good, quality leads, that will make you hundreds, if not thousands, so I can get an uninsureable lead from you, but still have it count. It's amazing, a qualified lead I would have to give has to meet certain criteria (want, need, resources, etc.). But a lead for an insurance agent can be anyone fogging a mirror, and it counts!

BNI

Blowhards
Nearing
Ignorance

 

[midwestbroker]

A friend of mine who is a P&C agent invited me to some type of BNI open house thing next month. I told him I would check it out.

I belonged to a network group a few years back when I was captive with Humana. I did not get any sales directly from it, but I did get some referring brokers and with their referrals, I did get my money back out of it.

 

[Soaringagent]

I'm thinking about joining a BNI group, but think it's way overpriced. Where is that money going towards?