By Alan Sartain, master business coach and certified coaches’ coach.
I joined BNI in December of 2003, shortly after I started my business coaching firm. Truth be told, I was very lucky.
The group that I joined was a small but dynamic group. Other than coaching the owner of a recruiting company that joined just before me, I did not make much from BNI in my first year. I would stand up, do my 60 second commercial and ask for a random assortment of businesses that I thought I might be able to coach.
So much for savvy business coach marketing!
A 15,625% ROI From BNI Business Coach Marketing Over 9 Years
In just over 9 years, I have eclipsed the $1 million mark. In addition to my time, I’ve invested $6,400 in BNI fees and room dues. That’s a 15,625% ROI. Not a bad investment from this particular business coach marketing strategy.
How did I generate the business? First of all, I track all of my leads to the root of the referral. Some of my BNI leads are fourth-generation referrals that track back to BNI. If you are not doing so already, I suggest that you track your leads to this level of detail. Much to my surprise, $384,833.34 in revenue was directly from business owners that passed through my BNI group over time. Another $267,660 in revenue was from referrals and a PR article that I placed in the local business journal about my first BNI client, the recruiting company. $218,547 was generated from seminars that I put on in conjunction with the CPA firm in my group and BNI referrals to outside businesses generated $59,825. Finally, $72,410 was generated from other BNI chapters, including $58,515 from my optometrist who attended a seminar that I put on with an AFLAC Sales Manager that I had met while visiting another chapter.
If you want to generate a million dollars from your BNI, do what I did:
- Choose the right chapter (OK, I got lucky), but make sure that the CPA, financial planner, business attorney, banker and business broker are excellent referring partners.
- Givers gain. Without a doubt, Ivan Misner, Founder and Chairman of BNI, was right. Over the years, I have given at least 2:1 referrals compared to what I receive.
- Get involved in leadership early and often. I became Secretary-Treasurer within my first year and have held every position on the leadership team.
- Turn your BNI-based clients into raving fans.
- You are in the business of business growth. Show your chapter that you can put your money where your mouth is. Be exciting, memorable and fun with your 60 second spots.
- Do at least two one-to-one (Dance Cards) per month.
- Visit at least one other chapter per quarter. You never know with whom you might make a connection.
Networking is just one of the seven top business coach marketing strategies we recommend at Coaches’ Coach. Check out all seven in our system HERE. Enjoy!