By Mary Kennedy Thompson, CEO of BNI Global
I opened my first franchise in the ‘90s. During a recession. Fresh out of the Marine Corps.
Without any real business knowledge.
It was an exciting, thrilling, but also unnerving time. As I was navigating this new adventure, I attended a meeting with Business Network International (BNI). That decision put me on a course I never could have imagined. Through the other professionals I met, I learned processes that helped me become a better leader and manager. I learned financial principles that made me a better entrepreneur. I learned that the right connections help you win new clients. But the greatest thing this network taught me was that I wasn’t alone. I might have been in business for myself, but I wasn’t by myself.
Starting a new business invites questions—Will my business work? Can I handle the demands? Will I be successful? But a network can help you build consistency, confidence, and connections, especially during times of uncertainty.
Network to Grow
It’s lonely at the top. Uncertain times bring worry and stress. As a leader, you don’t have the luxury of going to your team and saying, “I don’t know how we’re going to do this.” However, you can share those feelings with other leaders.
As the CEO of my business, I can’t be my only source of information. I need to tap into the knowledge of other leaders so I can stay relevant, expand my perspective, and grow. Together, we can do amazing things. Many minds do better than one mind. When times are uncertain, I need great minds to help me with my business.
By joining the right network, you can work alongside great minds who can help solve challenges, provide fresh ideas, and more. Here are a few examples of the great minds you have access to in a strong network like BNI.
- Sales Team: When you have people who know, like, and trust you, they organically become your advocates. They talk to their peers, and when they see an alignment of services or partnerships, they make the introduction. It’s natural, authentic and more personal, which leads to a stronger chance of closing the sale. It also costs a lot less than hiring that sales team yourself.
- Mastermind Team: About 80% of the art and science of business is the same, regardless of industry. Think about it: The principles behind creating positive customer experiences, smart money management, smart human management, and great leadership are the same across industries. Tap into the ideas and expertise of the mastermind group in your network to analyze how they conduct business. Learn from their failures and successes.
- Crisis Mitigation Team: When times are uncertain or when things go wrong, your network provides access to people who can serve as your sounding board. For example, when COVID hit, I immediately reached out to people within my industry, people outside the industry, competitors, and business alliances to ask for advice about getting through difficult scenarios. Use your group to level set, share ideas, and create change.
The world of business is cyclical, so when you face uncertain times, surround yourself with people who can help you strategize ways to mitigate risk and navigate the uncertainty. Find out what solutions they tried, what the outcomes were, what they wish they would’ve done, or what you can expect in the situation.
Your network can also provide assurance and peace of mind that things will be okay because, after all, they’ve been through it too.
Network to Learn
BNI has grown every year for the last four decades. Why? Because we’re always evolving. I’m a fan of evolution over revolution, and I try to get 1% better every day. How does that translate in business?
You must think outside the business.
Here’s what I mean: At BNI, we make sure that we spend time understanding the economic environment, business landscape, and world of innovation, whether that means learning about digital transformation, AI tools, or the new theories and thoughts behind the technologies. However, amid this discovery, we never lose our core competency. We believe in traditions plus innovations. We keep the tradition of a strong meeting and what it does for networking, and then we add the innovation, like the BNI Connect member app. Businesses have to protect their core competencies to keep their competitive edge, but they must evolve to stay relevant.
The right network is full of people who show up, not just for business reasons, but for humanity reasons. Networking isn’t about dollars, it’s about time. When it comes to selecting a business network, spend time getting to know the people and processes so you can reach a level of comfort. You want to feel good about referring the business, and in turn, you want to trust that the business referrals you receive will have been done with the same thought and care.
The human connection is stronger than ever, buoyed by the ability to meet more people in more channels and from more places. Join a network to tap into that power. When you do, you’ll be able to give as much as you get.