This is an edited response to a discussion of BNI on CoActive Network on 4/2/2007
I am a strong supporter of BNI AND I believe it takes coaches to the their next business level. It really puts front and center that coaching is your business not your hobby. BNI is a great sandbox to use Tony's expression.
Cheryl's comments about evaluating the type of members in a group before joining based on your own clientel is equally important. If you are a business coach and your clients need to be business owners and small corporations you need to make sure your chapter has enough B2B (business 2 business) members that can refer you. In my chapter we have unfortunately lost 3 key b2b members in the past three months (normal attrition for the most part) which is both a challenge and opportunity. The challenge being that my "main" perceived source of referrals has been reduced. The opportunity - I get to invite people I already know to come in and fill those positions or invite people who I'd really like to fill those positions. Note that I said perceived source. In the past 9 months of the 5 qualified referrals I received only one came from B2B members and it happened to be one of the B2B members. The rest came from B2C members (business to consumer): a Mary Kay rep, a realtor, and a roofer AND they were not the clients.
It really is a matter of trust and it takes time. If you treat your coaching like a business AND you take the time to build the relationship and trust AND you focus on giving more than receiving AND you continue to work on your own personal and professional growth - BNI is a great place to get clients.
Something else to consider. Remember that the financial value of a client is not just in the immediate sale. Lets say you charge $300 a month and $300 for your discovery session and you typically work with a client for 6 months. That sale is not $300, but rather $600 for the first month and continuous sales of $300 for the next 5 months. That one client sale is actually worth $2100. If you get just ONE qualified referral you have more than paid for your investment of money in BNI (typically under $600-900/yr including meals) AND if your business is really driven by referrals that ONE client will be a catalyst for your growth. If that one client then refers one more person you've doubled your income. Now what if you get 5 clients in a year from BNI members the immediate value of those clients to your business is $10,500? Is that worth your time & energy & money? Now add to that the fact those client's will also refer people, assuming you are good and continue your own development.
A week or so ago I commented on this site with a list of benefits of BNI and what you really need to know about being a BNI member as a coach. Go check it out. You can see my comments here or in the threaded conversation on CoActive Network here or by doing search for BNI on either website
Lastly, BNI is a lot of work. It does take a substantial commitment from you on a weekly basis. Prep, the meeting, 1-to-1 meetings, inviting visitors, and any leadership role you play. It is a real business activity. You are investing 2-3 hours a week of facetime in the marketing of your business. So my business coach question to everyone is:
What are you going to do with the other 5-6 hours you ought to be spending on marketing this week?
Do you have a hobby or a business?
Matthew Egan Rochte, a Coach for Coaches
CoachingIntentionallytm
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