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Legit vs shady: BNI, Grant Cardone
Posted on 10/3/18 at 7:41 pm
Posted on 10/3/18 at 7:41 pm
BNI sounds like a decent proposition for small businesses, but sounds somewhat cultish in their practices (MLM feel with legit businesses).
Grant Cardone is some baw from Lake Charles who joined Scientology and does a lot of cold calling, as per his YouTube.
I’m not a businessman, but both seem a little shady in their own way. Any businesses people want to weigh in?
Grant Cardone is some baw from Lake Charles who joined Scientology and does a lot of cold calling, as per his YouTube.
I’m not a businessman, but both seem a little shady in their own way. Any businesses people want to weigh in?
6
Posted on 10/3/18 at 7:54 pm to Ric Flair
BNI is way too cultish for my tastes. They force referrals and you have to show up every meeting.
I did another networking group that was more laid back. Also not a huge fan.
I did another networking group that was more laid back. Also not a huge fan.
Posted on 10/3/18 at 9:34 pm to Ric Flair
I like watching Grant Cardone speak. He has a lot of good points but I don't really get involved with BNI or his Cardinal Capital.
He's really smart when it comes to multifamily units though.
He's really smart when it comes to multifamily units though.
Posted on 10/4/18 at 5:17 am to AUtigR24
I checked out a BNI meeting and said no thanks.
Posted on 10/4/18 at 6:17 am to Ric Flair
Was a bit too intense as a casual observer, but can't argue with the measurable results for members. LC is very "it's who you know" so I can't knock it, but membership doesn't appear overly selective (fad products, Scientology per your post, etc).
Posted on 10/4/18 at 6:23 am to Ric Flair
Didn’t know he was a Scientologist but it makes sense now that you say that. Seems very driven and successful at multi family and capital in an over the top kind of way.
Posted on 10/4/18 at 6:32 am to Ric Flair
I’m in a BNI group. It probably helps that I was in the initial meetings before it was ever a group and that I have known 1/3 of the group since high school. It’s definitely not MLM. It’s a referral based group with each group having exclusive member types - one CPA and one commercial realtor for instance. Now, it can be cultish and I am not a huge fan of all the rules but I understand why they are in place. It’s worked out for me and then some re ROI. It’s not even close really but in my line of business I can quadruple the yearly fee with one transaction (real estate title work). And the people in my group closely related to me do very well (realtors, bank, mortgage broker). We really have a good group of people. I could see being in a BNI group that wasn’t nearly as productive.
This post was edited on 10/4/18 at 6:34 am
Posted on 10/4/18 at 9:26 am to Ric Flair
I am a big fan and understand the concept of referrals. A significant portion of my new business comes from referrals - probably 80%.
But that is because over the years I have cultivated good relationships with attorneys, bankers, etc, and I have done good work for my clients. So when people need my assistance, people in the market think of me.
However, in no way are any of those relationships "exclusive". I refer to multiple attorneys, multiple bankers, etc, all based on the situation at hand. And the same in reverse. I know the bankers, attorneys, etc that refer work to me, also refer work to others, and I am completely fine with that.
What puts me off about BNI, etc, is the whole concept that you are supposed to refer business to a provider just because they are in the group. Now, if I was in a group, I may get to know the commercial banker, for example, over time, and realize he/she is solid, and eventually become comfortable sending clients their way. But it's going to be because I got to know them over time, not just because they are in my group.
However, like others have said... I think BNI is very much dependent on the group. Some are better than others.
But that is because over the years I have cultivated good relationships with attorneys, bankers, etc, and I have done good work for my clients. So when people need my assistance, people in the market think of me.
However, in no way are any of those relationships "exclusive". I refer to multiple attorneys, multiple bankers, etc, all based on the situation at hand. And the same in reverse. I know the bankers, attorneys, etc that refer work to me, also refer work to others, and I am completely fine with that.
What puts me off about BNI, etc, is the whole concept that you are supposed to refer business to a provider just because they are in the group. Now, if I was in a group, I may get to know the commercial banker, for example, over time, and realize he/she is solid, and eventually become comfortable sending clients their way. But it's going to be because I got to know them over time, not just because they are in my group.
However, like others have said... I think BNI is very much dependent on the group. Some are better than others.
Posted on 10/4/18 at 11:03 am to LSUFanHouston
quote:
What puts me off about BNI, etc, is the whole concept that you are supposed to refer business to a provider just because they are in the group. Now, if I was in a group, I may get to know the commercial banker, for example, over time, and realize he/she is solid, and eventually become comfortable sending clients their way. But it's going to be because I got to know them over time, not just because they are in my group.
This is spot on and we actually emphasize that in our group. I have to know you and have confidence in your ability to provide the services. Just because you have joined the group doesn't mean I am referring anything to you. And likewise, I don't use certain service providers in our group myself. If I have a long standing relationship and think the person providing the services currently are as good or better then I stick with what I know.
In my line of work I would lose business if I referred everything to one or two people. So I can't strictly hold to the exclusivity BNI would prefer. However for the people in my area of work (realtors, bankers, mortgage brokers) you couldn't find a better set in a BNI group. It really is group dependent.
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