Michael Royal, our Senior Finance Specialist, is a member of BNI Powerhouse which is based in Altona VIC 3018.
BNI – some background and context
BNI is a worldwide referral network for business owners who are looking to grow their business. There are over 288,000 members across the globe and many of the members are business owners who are looking to grow their business.
As most of us know, small businesses grow their business by referrals from clients, and fellow business owners they interact with.
But referrals don’t just happen. A referral is only made by someone if they believe the referral is someone who delivers quality services on time and at a fair price. And, when some refers someone of quality, they are also seen in a favourable light as they become what is often known as a trusted business advisor.
In BNI, the referral process is known as Givers Gain. When I give something of value to my fellow members, in return I will receive something of value. A famous author and psychologist, Robert Cialdini, characterised this as the power of reciprocity.
This power of reciprocity ultimately as two important benefits:
- The emotional benefit of helping someone achieve a better result. This benefit is experienced by both the ‘referrer’ and the ‘referree’
- The financial benefit for the referree from the business they receive.
Interestingly, at a member level, BNI does not measure and track the benefit received but rather, they measure the benefit given as the emphasis is on ‘who can I help?’ not ‘what’s in it for me?’
The total emotional benefit? Immeasurable; the total financial benefit? Over USD$18B in 2021.
Quality businesses you know
Michael’s BNI Chapter, BNI Powerhouse, is looking for business owners in the following specific business categories.
There may be other good business owners you know so please don’t limit your thoughts to the categories listed below!
Real Estate / Property
✔️ Real Estate Sales – Commercial
✔️ Real Estate Property Management – Residential & Commercial
✔️ Buyer’s Advocate
✔️ Vendor’s Advocate
✔️ Furniture Removalist
Trades – Property, Business & Personal
Personal or Business Services
✔️ Business Broker
✔️ Immigration Lawyer
✔️ General Insurance Broker
✔️ Travel Agent