Would you like to know the No.1 reason for Business Failures?
Poor or Zero Marketing. Period.
The No.1 reason for failure in business is no sales, no cash in the bank account.
Almost 95% of companies which gets started, close down within the next 5 years and only 5% survives and 1% succeeds.
When a small & medium size entrepreneur starts his business, he either starts out of his passion or pushed into entrepreneurship because he got bored with his corporate job. The job was not keeping him/her happy.
Out of sheer passion and excitement, they get up few clients first, make such bucks and get stuck afterwards.
Soon, they realize that they need a continuous flux of customers/clients for their business.
Though 100% of them agree, that they have to build contacts and relationships, very few work towards it. Majority end up in many networking events and start scouting for new clients.
“What % of business comes via referral?” – This one question I would have asked thousands of entrepreneurs and almost none has replied less than 50%
Yes, 50% – 100% of new business come through referrals. But hardly few have a proper system in place to generate these referrals in a systematic way.
BNI is the world’s largest referral marketing organization which helps business owners to generate referrals week on week, month on month and year on year.
Look at the photo below from the BNI HQ as of June 2016.
200,000+ BNI Members across the globe
I was recently training many Directors across India and asked them why they love BNI.
I was stunned by their answers. Here is the concise list of answers given by them.
1) I love the philosophy of BNI – Givers Gain Philosophy, because I live by it.
2) I love the Systems & Structure of BNI which helps me to adopt the same in my business
3) BNI helps me to meet new people every single week.
4) All of them are High-Energy, Like Minded People who want to succeed in life
5) I love the rules of BNI which helps me to focus
6) I like to give referrals and receive lots of referrals. I can see many happy faces when they get lots of referrals for their business
7) Getting early in the morning and start talking and doing business
8) The best forum to be vocal about your business, talk, share and teach other entrepreneurs about your business.
9) I love the sheer energy which gets exhibited in the meetings
10) This is the best place not only for business but also for personal growth & leadership development
11) Meeting Multiple Industry People in 90 minutes and get to select my best vendor team for my organization
12) I Love all the World-Class Training’s I receive for my business and self-development
13) Other members in the chapter are thinking and working for my growth & prosperity
14) All my problems can be solved – they are just one phone call away
15) BNI helps me to make a difference in the society by contributing to the welfare of other human beings
16) Copying the BNI system & business principles in my own business has boosted my business many a times.
17) I get pampered a lot and feel happy to receive all awards and recognitions
18) I Love when members give a gratitude notes(thank you for the closed business)
19) Truly, BNI is changing the way the world does business and I love my business getting better and better every day.
20) BNI helps us to grow together
21) The concept of Power Teams helps us win more business
22) Get new friends for life
23) Brings a positive change in others and helps to become a better person
24) BNI awakens, creates and develops leaders in the society. Your ability to make money is directly proportional to your leadership abilities and BNI helps me to become a better leader in my business.
WOW, that’s a pretty exhaustive list of reasons given by many BNI members across India.
Hey, are you an Entrepreneur and ready to handle more business?
Always remember, “What goes around, comes around”. Those GIVE Realize true Happiness in life.
Let’s live by the Givers Gain Philosophy!
By the way, Are you part of BNI?
Comment below why do YOU like BNI…
Please note: I reserve the right to delete comments that are offensive or off-topic.