Finding a niche for business in the Edmonton region, where competition is often fierce, it can be tough for business owners to find ways to set themselves apart. The good news, according to Business Network International, is that way doesn’t always have to be new.
Promising community support, referrals and lessons from like-minded business owners, BNI recently opened a second chapter in St. Albert, the BNI Aggregate.
With 287 chapters across Canada, and more than 170,000 members worldwide, BNI is the largest business networking organization in the world. Yet, in comparison, its secret to success is relatively simple, says chapter president Shounak Mehta, a lawyer.
The network relies on word-of-mouth referrals passed on from one member in a chapter to another. And with only one entrepreneur per business category able to join each chapter, there is no fear of competition.
“It’s groups of people who all work with the same kind of client and look to pass on opportunities,” says Mehta.
Moving into the group, however, is a little more difficult, says Pat Stride, executive director with BNI Alberta North.
Becoming a member is similar to a job application. It requires an invitation from an existing member in the chapter, which is then followed by a formal application process including reference checks.
“Everyone in the group has to be invited by somebody else,” says Stride. “We don’t advertise. We are very active in the chamber (of commerce) and in the community. But people need to be referred into the group.”
Once an entrepreneur is accepted into a group, that position is closed. But if there’s an opening in another chapter, they can reapply, she says.
Memberships are popular, she adds. Another chapter recently had an opening for a realtor and almost 30 people showed up to get the position (every entrepreneur can attend two meetings before they are asked to submit an application).
“The seats are valuable,” she says. “If you want to be a part of BNI you cannot be part of any other referral group or organization and that is only to protect the interest of all members.”
Members are expected to attend each weekly meeting the chapter holds, and organize one-on-one meetings with members during the week, along with other events held throughout the year. The idea is to build personal relationships, which in return help their business get the referrals they need to succeed, says Stride.
The philosophy behind this is called ‘givers gain,’ following a belief that ‘what goes around comes around.’ An average chapter is able to generate over 100 referrals per month, which calculates to tens of thousands of dollars made by the businesses, she says.
“It’s really about the deep value BNI members get,” she says.
The BNI Aggregate group is St. Albert’s second chapter. The city’s first chapter was BNI Saint City. The groups meet on Tuesday and Thursday mornings. For more information, visit www.bnicanada.ca.
