BNI – Worth the time?

I was invited and attended my reasonably local chapter of BNI today. This is because the accountant who was in that chapter resigned.

It is rare of BNI accountant position to come up. Much to my expectations they were two other accountants there.

I liked the group but for me there is one major downside. The weekly networking meetings are at lunch time. Although the chapter is reasonably close to where I live. It is further away from my office.

As a result of attending this today, my day was really disrupted. I suppose I could work from home on Wednesdays. Wednesday is the day before the rubbish collection day for my mother. Her advanced age means I get the rubbish ready for collection. She lives fairly nearby my office. I could put the rubbish out early morning the next day.

The question I am asking myself is – is networking worth disrupting my day so much? If I decide to join and they accept me, what would I gain through joining them:

1) Possibly more business

2) Meet other people in small business. Good to meet people who are not my clients

3) I need to get out more anyway

4) Hopefully exchange of ideas

The reality is I would lose a day’s work or slightly less than a day’s productivity. That is a lot!

The cost to join in total is £654 + £10 door entry for lunch, making an annual fee of £1,174.

Other downsides of joining BNI are:

1) Need to attend every week or send someone else

2) BNI way of working

3) Chapter I am looking at has only 13 members. May be lunch time networking does not attract that many people.

I will give this some further thought.

4 thoughts on “BNI – Worth the time?

  1. I thought these events were usually held early in the morning.
    The money is made by the organisers of the chapter. I think there’s a lot better ways to make contact with 13 potential clients.

  2. I’ve been a member of BNI myself in the past. The theory is that you are selling through the room, rather than to it. 2/3 of your referrals will come from your power team – solicitor/ IFA/ bank manager etc. My chapter was very trades orientated and my power team wasn’t that great. I decided that for £1200 a year, I could forge really good relationships with bank managers etc, outside of BNI and spend the cash taking them to lunch 1-1. This approach has worked far better than the rigid BNI structure…plus I enjoy it more 🙂
    Why did the previous accountant leave?

  3. Hello Stewie

    Nice to see here! Thanks for reading my blogs and your comments.

    The previous accountant left because the afternoon time was not suitable for him.

    I will think further about BNI over the weekend. My concern is a group of 13 is just too small. I have doubts whether the group will increase in size significantly.

    I will post here which way I will go.

Care to comment?

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s