In this episode of The Growth Equation, I sit down with Michael Preece, owner of BNAA Tasmania, to explore a different perspective on business networking, referrals, and long term business growth. Michael's journey spans more than four decades in business, beginning as a professional photographer before moving into sales and eventually building BNAA into one of Tasmania's leading relationship focused networking organisations.

We discuss why many networking groups get referrals wrong, how genuine relationships create stronger business opportunities, and why forcing referrals often leads to wasted time and poor outcomes. Michael also shares how BNAA contracted during COVID before experiencing significant growth as business owners rediscovered the value of face to face connection.

If you're a small business owner looking to generate better referrals, build stronger business relationships, and create sustainable growth, this episode is packed with practical insights.

What You'll Learn In This Episode

• Why the best referrals come from strong relationships, not pressure or obligation.
• How Michael Preece built BNAA into a thriving networking community by focusing on trust, education, and genuine connection.
• The surprising lesson a wedding photography business taught Michael about sales, communication, and understanding people.
• How COVID became an unexpected catalyst for growth and created new opportunities for businesses willing to adapt.
• The difference between transactional networking and relationship based networking—and why one consistently delivers better results.

Chapters

00:00 Introduction to Networking in Tasmania

02:08 Michael Preece's Journey in Business

11:09 Growth and Development of BNAA

14:52 The Future of Networking in Tasmania

17:46 Building a Digital Platform for Networking

24:59 Challenges and Rewards of Networking

28:49 Advice for Business Owners