The Official BNI Podcast

Episode 453: Relationships Are Currency (Classic Podcast)


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This is a rebroadcast of Episode 150.
Synopsis
It’s not the number of contacts you make that’s important, but the ones that you turn into lasting relationships. You’ll always get better results trying to deepen relationships with people you already know than starting relationships with strangers.
Here are some tips for creating closer connections:

* Give your clients a call. Find out how things went with the project. Ask if there’s anything you can do to help. Don’t ask for a referral at this time.
* Make personal calls to all the people who’ve helped you or referred business to you. Find ways to help them.
* Put together a “hit list” of 50 people you’d like to stay in touch with. Send them a card on the next holiday, then follow up with a phone call 2 weeks later. Then you can ask for a referral.

If you’re having trouble making calls, start with the people you’re at “Profitability” with in the VCP scale.
Dr. Misner recommends reading Stephen M. R. Covey’s The Speed of Trust for more on this topic.
Brought to you by Networking Now.
Complete Transcription of BNI Podcast Episode 150 –
Priscilla:
Hello everyone, and welcome back to The Official BNI Podcast brought to you by NetworkingNow.com, which is the leading site on the Net for networking downloadables.
I’m Priscilla Rice, and I’m coming to you from Live Oak Recording Studio in Berkeley, California, and I’m joined on the phone today by the founder and the chairman of BNI, Dr. Ivan Misner.
Hello, Ivan. How are you and where are you?
Ivan:
Hi, Priscilla. Well, this week I’m in Rhode Island and Boston meeting a lot of BNI members. I’ve had a chance to be up here before, and it’s a great group of BNI members, and I love visiting this region.
Priscilla:
Well, what are you going to share with us today?
Ivan:
Well, today I’m going to talk about relationships being currency, and when I ask BNI members how many times have you seen an entrepreneur, maybe even yourself, go to a networking event, meet a lot of good people, then leave and never talk to them again, right? It probably happens too often. It’s not because the entrepreneur doesn’t like them; it’s really because they haven’t had system to connect. It’s really a shame because new contacts are really where future business is often born, visitors who come to a BNI meeting or if you go to a Chamber event of some kind, it’s meeting those new people and getting into visibility that leads to the rest of your business.
It’s, I think, important to understand that you can’t be misled. It’s not the number of contacts you make that’s important; it’s the one you turn into lasting relationships, and there’s quite a difference. So trying to make ten cold calls and introducing yourself, that doesn’t work so well. Now, call five people that you already know and tell them that you’re putting together a marketing plan for the next year and you’d appreciate any help that they might be able to provide in the form of either a referral or feedback, you’re much more likely to get that. Better results are always in Door Number Two, they’re in that second option. So you want to go with people that you have relationship with and try to strengthen those.
So here’s a few suggestions on how to deepen the relationship with people you already know to the point where they might be willing to help you out in the future. Here’s four quick steps to moving you in that direction.
First, give your clients a personal call. Find out things went with the project that they’re involved in. Ask if there is anything that you can do to help. Don’t ask for a referral at that point; just make connection with them.
Second,
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