BNI & The Power of One: Detailed Summary of Episode 766 - "OK, Who Gets the TYFCB Now?"
Introduction
In episode 766 of the BNI & The Power of One podcast, host Tim Roberts delves into a nuanced aspect of BNI membership—tracking "Thank You for Closed Business" (TYFCB) when referrals span across different chapters. Released on December 2, 2024, this episode addresses the complexities that arise when BNI members facilitate relationship-based referrals between peers in separate chapters, ensuring proper recognition and credit within the BNI system.
Listener Submissions
The episode begins with Tim acknowledging the valuable listener submissions that shape the content of the show. He encourages members to continue sending in questions and topics via bnipowerof1.com, emphasizing the interactive nature of the podcast. Tim mentions, “[00:39] ...I think we're going to wrap up the ones I do have in the queue though here in the next week or two, so keep them coming in.”
The Listener's Question: Clarifying TYFCB Across Chapters
The primary focus of this episode centers on a question from Sharon in California, building upon a previous Golden Goose referral podcast. Sharon seeks clarification on how to track TYFCB when a BNI member (Member A) makes a relationship-based referral that connects two BNI members (Member B and Member C) from different chapters. Specifically, she inquires:
“Can you please clarify how you'd keep track of thank you for closed business when a B and I member makes a relationship-based referral and connects 2B and I members to each other, say in different chapters?”
Understanding Referral Tiers
Tim provides a comprehensive overview of the referral tiers essential for understanding how TYFCB should be tracked in such scenarios. He recalls the tier system from the Member Success Training:
- Tier One: Member to member within the same chapter.
- Tier Two: Referrals made to members outside one's chapter.
- Tier Three and Beyond: Subsequent referrals generated from Tier Two connections.
Tim clarifies, “A relationship based referral is in tiers, if you remember the tiers from your member success training. Tier one is member to member inside the same chapter...” [02:30].
Tracking Thank You for Closed Business
Delving deeper, Tim explains the practical challenge of attributing TYFCB when multiple BNI members are involved across chapters. He outlines a scenario where Member A refers Member B to Member C, leading to mutual business between B and C. The critical question is: who receives the TYFCB credit?
Tim proposes a solution:
“If you know me, I'm... Recognition is one of our core values. Recognition is important... So if I was member A, I would never even track or care what member B and member C were doing with one another. I would just be happy I made a connection.” [05:00]
He suggests that the original referrer (Member A) should receive credit for the Tier Three referrals that emerge from the initial Tier Two connection. Simultaneously, Member C can also receive TYFCB credits for direct business transactions with Member B, provided these transactions occur within different chapters.
Practical Example
To illustrate, Tim presents a detailed example:
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Initial Referral:
- Member A (Chapter X) refers Member B (Chapter X) to Member C (Chapter Y).
- This action constitutes a Tier Two referral, recorded in both Member A and Member B’s POMS reports.
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Business Exchange:
- Member B and Member C begin exchanging referrals.
- When Member C closes a business deal with Member B, say worth $5,000, TYFCB is recorded in both Chapter X (credited to Member A) and Chapter Y (credited to Member C).
Tim emphasizes the importance of distinguishing between mere suggestions and actual referrals. He states:
“It only counts if that's an actual referral that you did originally. Not a suggestion, not a hey, did you ever meet this guy?” [12:15]
This ensures that TYFCB is appropriately attributed based on genuine referral actions rather than casual introductions.
Conclusion and Tips
Tim wraps up the episode by reiterating the significance of accurate tracking and recognition within BNI. He warns against potential abuses and underscores the necessity of meticulous data management to preserve the integrity of the referral system.
He concludes with actionable advice:
- Ensure Referrals are Genuine: Only track TYFCB for referrals where there is a clear, business-oriented introduction.
- Utilize POMS Reports Effectively: Properly document referrals in the POMS system to maintain transparency across chapters.
- Foster a Culture of Recognition: Embrace BNI's core value of recognition by giving credit where it's due, thereby strengthening member relationships and business growth.
Tim encourages members to continue submitting questions and participating actively to maximize the benefits of their BNI membership.
Notable Quotes
- Tim Roberts [00:39]: “Welcome back to BNI and the Power of One podcast... keep them coming in.”
- Tim Roberts [05:00]: “Recognition is one of our core values. Recognition is important... I would just be happy I made a connection.”
- Tim Roberts [12:15]: “It only counts if that's an actual referral that you did originally. Not a suggestion, not a hey, did you ever meet this guy?”
Final Thoughts
Episode 766 provides invaluable insights into the mechanics of referral tracking within BNI, especially when navigating the complexities of multi-chapter interactions. Tim Roberts adeptly addresses Sharon's query, offering clear guidelines and practical examples to ensure that members can effectively manage and benefit from their referral networks. Whether you're a seasoned BNI member or new to the organization, this episode equips you with the knowledge to optimize your referral strategies and uphold the principles of recognition and integrity.