Once you become Business Referral Group for your city you should start generating referrals from 50+ other members in your group.
How much referral business should you expect to get from your 50 members local Chapter?
According to BNI®—one of the largest business referral network franchise companies in the world—a 50 members Chapter, on average, generates $100,000 referral business for each member.
So once you group will reach to 50 members, it should also generate $100K+ referrals from 50+ complimentary local homepro members.
As a group member, what should you do to generate $100K+ referral business from your 50 member group?
- Offer high quality service. Without high quality (4 or 5-star) service, no other member will feel comfortable giving you referrals. The best ways to measure the quality of your services is to use Net Promoter Score and make sure to maintain industry standard NPS.
- Spend 10 minutes a day to connect with one biz member on social media. Try to know the member's business using FORD (family, occupation, recreation, dreams) method and see how you can help him or her.
- Always keep in mind that the group purpose is to generate $100K+ referral biz for each biz member. So when an opportunity arises, refer biz to other members and try to find the ways to help group members to achieve their business goals.
- If your group admin arranges quarterly social meetings, try to attend them. This way, you'll able to meet face to face with your group members in an informal setting.
- If your group admin arranges yearly social meetings (Christmas, 4th of July, etc.), try to attend them..
As a group member, what should you do to generate 100+ clients every year from your BRG?
- Do all the above. Plus
- Have a daily lunch date with one of your top 50 referral partners. At lunch, use FORD (Family, Occupation, Recreation, Dreams) method to build deeper relationship.. That's all.
Note: The above 'daily lunch' method is based upon 86-50-1 method outlined in an ebook by Workmansuccess.com. Under this method, to generate 100 clients yearly from your 50 top people (your past clients, your referral partners), all you have to do is to allocate one hour daily on building relationship by doing various activities and & having lunch is one of the top acitives listed in the book.
Key benefits of BRG:
- Each member markets the entire group of complimentary businesses whenever they do work or make a marketing call on a homeowner or business.
- Other members act as your unpaid sales team.
- In coming AI disruption, having solid relationships with 50+ people will not only generate consistent business for you, it will also act as a shield to protect you and your business during the AI disruption.