Episode 962: Time and Money (Classic)

Summary

Podcast Summary: The Official BNI Podcast – Episode 962 – "Time and Money (Classic)"

Date: May 27, 2026
Host: Dr. Ivan Misner
Guest: Shirley Towne, BNI Midlands SC Executive Director
Episode Theme:
A classic episode focused on how BNI transforms the use of time and money for business professionals, contrasting traditional advertising with the value of intentional networking and referrals.

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Episode Overview

Dr. Ivan Misner, founder and Chief Visionary Officer of BNI, talks to Shirley Towne about the true return on investment of BNI membership. The episode centers on two of the biggest concerns for prospective members—time and money—and explores how thoughtful participation in BNI yields far greater dividends compared to traditional advertising methods like Yellow Pages. Shirley shares her journey from big ad spends to thriving through referral marketing, while Ivan provides strategic insights into maximizing BNI participation.

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Key Discussion Points & Insights

Shirley's Shift from Yellow Pages to BNI

• Shirley recounts her experience investing $5,000/month for years in Yellow Pages advertising for her ADT franchise, describing it as profitable for only about a year ([02:37]-[03:00]).
• When the effectiveness of Yellow Pages declined, she sought a more sustainable method and found BNI.
  • “[BNI] totally replaced… what I wanted it to do. In two years, I was at the level of what my highest level was when I was doing the Yellow Pages.” —Shirley ([03:00]-[03:37])
• Shirley reflects on her nervousness attending her first BNI meeting and how the chapter has since grown exponentially.

The Time and Money Objection

• Shirley identifies the two main hesitations for potential BNI members: the commitment of time and the annual cost ([04:24]-[08:23]).
• She reframes BNI as the best possible use of time and money for a business professional:
  • “There’s no better use of my time or my money when it comes to BNI.” —Shirley ([04:24]-[06:00])
  • She encourages members to treat their BNI meeting as they would their “best customer.”

Dr. Misner’s “$5,000 Membership Thought Exercise”

• Ivan challenges listeners: “If a BNI membership cost you $5,000 a month, how would you be participating differently?” ([03:37]-[04:09])
• The aim: push members to bring more intentionality and intensity to their participation.

The Value of One-to-Ones and Relationships

• Shirley emphasizes that one-to-ones (dedicated networking meetings with individual members) are where she builds genuine referral relationships ([06:00]-[08:23]).
• Ivan echoes: “The meeting is amazing…but when I connect with an individual on a one-to-one basis, that’s how I learn to be a better referral partner.” —Shirley ([06:00]-[07:30])

Return on Investment

• Shirley contrasts paying for cold leads (Yellow Pages) with warm referrals (BNI):
  • “It’s crazy to think I was paying $5,000 a month just to get leads...when I get a referral from BNI, it’s a personal introduction.” ([07:30]-[08:23])
• Most BNI members break even on their membership investment within a month or two.

Addressing the “No Time” Objection

• Shirley asserts that BNI is the most productive use of her week, both in networking and personal fulfillment ([08:45]-[09:37]).
• Dr. Misner highlights the supportive nature of BNI: “You may be in business alone, but you don’t have to be, you do not have to be alone in business if you’re in BNI.” —Ivan ([09:37]-[09:45])

Networking vs. Traditional Sales

• Ivan compares networking to “farming, not hunting,” saying that while direct selling and cold calls might work, networking is inherently less stressful and more rewarding ([09:47]-[10:57]).
  • “I know how to cold call. I did it long enough to know I don’t want to ever have to do it again for the rest of my life. Does it work? Yeah, it can work. Although I think it's getting harder…” —Ivan ([10:58]-[11:19])
  • “And I think if someone finds it fun, they have an emotional issue.” —Ivan ([11:19]), with Shirley agreeing humorously.

Final Takeaways & Setting Expectations

• Dr. Misner insists on setting realistic expectations: “It’s not a get rich quick scheme. It’s about building relationships, so it’s going to take time, but that time pays off over time.” ([11:46]-[11:56])
• Shirley urges BNI members to be upfront about the time and money commitments with visitors so they can attract solid, long-term members to their chapter ([11:28]-[11:46]).

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Notable Quotes & Memorable Moments

• “If a BNI membership cost you $5,000 a month, how would you be participating differently?” —Dr. Ivan Misner ([03:37])
• “There’s no better use of my time or my money when it comes to BNI.” —Shirley Towne ([06:00])
• “When I get a referral from BNI, it’s a personal introduction. Somebody's already said this is the person you need to speak to.” —Shirley ([07:50])
• “You may be in business alone, but you don’t have to be...if you’re in BNI.” —Dr. Ivan Misner ([09:37])
• “It truly is about farming, not hunting.” —Dr. Ivan Misner ([10:31])
• “I know how to cold call...I did it long enough to know I don’t want to ever have to do it again for the rest of my life.” —Dr. Ivan Misner ([10:58])
• “It’s not a get rich quick scheme. It’s about building relationships, so it’s going to take time, but that time pays off over time.” —Dr. Ivan Misner ([11:46])

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Key Timestamps

• [02:37] – Shirley discusses $5,000/month Yellow Pages investment
• [03:37] – Ivan's $5,000 BNI membership participation challenge
• [04:24]-[08:23] – Shirley reframes time and money as the top objections and biggest reasons for BNI
• [06:00]-[07:30] – The value of one-to-ones
• [09:37] – Ivan on business support and camaraderie in BNI
• [10:31] – Networking is “farming, not hunting”
• [11:46] – Final advice: set expectations about time, money, and relationship-building

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Practical Tips from the Episode

• Treat your weekly BNI meeting as you would your most important client appointment.
• Prioritize one-to-ones to build deep, mutually beneficial referral partnerships.
• Calculate your BNI return on investment based on real, personal introductions and referrals, not just the cost.
• Be upfront with prospective members about the commitment required and the nature of the payoff.
• Remember, the value of BNI compounds over years, not weeks—patience and consistency are key.

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Additional Resources

• Shirley’s region: bniofmidlands.com
• Dr. Ivan Misner’s audio programs: meisneraudioprograms.com (promo code IVAN5O)

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Summary:
This episode is a must-listen for current and potential BNI members struggling with time and money commitments. Shirley and Ivan break down the direct, compounding value of BNI, urging intense, intentional participation and highlighting the irreplaceable power of referral-based networking over more costly, impersonal methods. The underlying message: If you treat your BNI membership as a pivotal investment, the returns—both financial and personal—can far exceed your expectations.

Transcript

[A]

Hello, this is Priscilla Rice and I'm coming to you from Live Oak Recording Studio. This week we're going to have a rebroadcast of one of our earlier classic podcasts. We hope you enjoy it, and thanks so much for listening. Episode number 730, Time and Money.

[B]

You're listening to the official BI podcast with BNI founder and chief visionary officer, Dr. Ivan Meisner. Stay tuned for networking and referral marketing tips from the man who's been called the father of modern networking, along with suggestions and insights into getting the most from your membership in the world's largest networking organization, bni.

[A]

Hello, everybody, and welcome back to the official BNI Podcast. I'm Priscilla Rice and I'm coming to you from Live Oak Recording Studio in Berkeley, California. And I'm joined on the phone today by the founder and the Chief Visionary officer of B and I, Dr. Ivan Meisner. Hello, Ivan, how are you and where are you?

[B]

I am still zooming all over the world doing a lot of events. I've done a lot of live podcasts. India. I did a couple of clubhouse events. Breakfast for Champions. I did a clubhouse. And I actually, I popped into a Northern Virginia chapter to give an award because they created the Ivan Award, like the Oscars, except it's called the Ivan. And so I had to just drop in and congratulate them on the first winners of the Ivan Award. And that was the Northern Virginia chapter with Leslie Hutchinson. So been going around.

[C]

That sounds great.

[B]

Today I have back a guest who's been on once before, Shirley Towne. Shirley also in the past has owned and operated an ADT home security franchise for 16 years. She joined BNI in 2014 to replace the business that she lost from the Yellow Pages. I want to hear a little about that Shirley. And she never looked back. Shirley's been an executive director in the midlands of South Carolina for four years, and she doubled her region in the first two years. She's launched 20 chapters. Shirley was named BNI USA Director Executive Director of the Year in 2020, and this is her second time as a guest on BNI Podcast. Shirley, welcome back.

[C]

Thank you. I'm excited to be here.

[B]

Tell me about that $5,000 a month you spent on.

[C]

So we spent 5,000 every single month. We did it for probably five years. It took us a while to get to number, you know, the first page in the Yellow Pages. I was so proud. But it was only profitable after that for like a year. Hung on to it, you know, but the cause just dwindled and I needed something to replace it, because that's how we made a living.

[B]

Yeah.

[C]

And so, you know, I heard about being I, and I kind of invited myself and yeah, went to the chapter. There were 36 people there. I stood up to speak and my voice cracked like I was five years old. I was so nervous. It was nothing but a bunch of suits, just a few women in the room. That chapter today is now 150 members. So definitely is more intimidating now than it was then, for sure. But, yeah, fun stuff. But it totally replaced BNI did what I wanted it to do. In two years, I was at the level of what my highest level of what I was doing when I was doing the Yellow Pages.

[B]

Well, we're going to talk a little bit about the concept of time and money and how it applies in your B and I membership. But here's an interesting question I'd like to pose to the listeners because I think you know the answer, Shirley. If a B and I membership, the Yellow Pages cost you $5,000 a month, if a B and I membership cost you $5,000 a month, how would you be participating differently?

[C]

Oh, golly, can you imagine the intensity?

[B]

Yes. And it doesn't cost that much. So maybe we should be participating intensely so that we can be making that kind of money. And that's your topic for today. So let me hand it over to you what the major.

[C]

You know, Ivan, it is the topic. But when you put it like that, my goodness, my intentionality should have been even more than it was. Anyway, that. That is. I mean, I guess on some level I knew it because obviously I wrote that check every month. But when I think about that, it's just crazy to think about. But yeah, that's exactly it. You know, I started. I started being the visitor. I started sitting in on visitors days, on the visitor orientation. And every time I did, you know, I could tell the hesitancy to join was over to two major items, Time and money. Our limited resources. We all have limited resources when it comes to time and money. And so you do want to be a good steward of both of those. And I don't know, it took me. It took me maybe six or seven visitors days to realize that every time I heard the objection of time or money, it just dawned on me, isn't ironic, because those two reasons are the reason why I do BNI today, six years after that whole Yellow Page saga, seven years actually going on seven years, is. Those are the reasons I do it. There's no better use of my time or my money when it comes to bni. So when I'm talking to visitors, I say that I was like, I just like to get it right out and say most of you are thinking, is this a good use of my time and money? And you know, those are the two hesitations or the considerations that we hear. And I want to address both of those because those, you know, seven years later are the reason why I do bni. There's no better use of my time and there's no better use of my money. Obviously, you know, what's the investment of time. So I always want to lay that out and say, you know, we've got this 90 minute meeting. A very smart person once told me that if you treat B and I like your best customer being I will become your best customer, block it off on your schedule and count it as, you know, like the time with your best client. So I think that was a big mindset change for me. But you look at that and you just think about the use of your time. And then obviously in BNI we like to have what we call one to ones. And Ivan, as you have said a million times, that's really where the magic of B and I happens. The meeting is amazing and I always learn a tidbit here or there, but when I connect with an individual on a one to one basis, that's how I learn how to be a better referral partner. I learn, you know, who their golden goose referral partners are, you know, who can I connect them with that will feed them for life. So those are the two major time commitments is the meeting and the one to ones. And those, those are the times that I enjoy in my work week. And those are the most productive times of my work week. And then when I look at the investment in B and I, I think Ivan said it well, I mean, you know, it is such a small investment for, for most of us, it's, you know, obviously under $1,000 for the year. And it's just crazy to think about the fact that I was paying $5,000 a month just, just to get leads, because that's what those were. They were leads. You know, they were calling two or three other people out of the yellow pages. But when I get a referral from bni, it's a personal introduction where somebody has already said this is the person you need to speak to. So I would, I would dare say that when you think about the use of your time and your money, there's no better use than then. Then be an eye like you're not going to find anything that will compare to it. And you know, you just want to think about what you do as a profession and how many referrals it's going to take to break even. And you know, most of, most of our members do that in a month or two.

[B]

Yeah. So you know, what do you say to the people? I mean I got a thought on this but I'd like to hear what you say to people who say yeah but it takes out, you know, it's a 90 minute meeting and then if you're, if it's in person, I've got to drive to it, I got to drive back and you guys phone calls and oh my goodness, then you want me to do one to ones, you know, what do you say to those people?

[C]

Yeah, I say that you'll learn that there isn't a better use of your time. Where can you go and, and you know, knock out a meal and hang out with like minded individuals that are really kind of in the same position that you are. Yeah. Is that, you know, business can be lonely when you're an entrepreneur and when you hang out with other people that are going through what you go through, it's very uplifting. But you also, where else can you hang out with 20 or 30 people or 40 people, whatever your chapter size is that are going to be out there intentionally looking for opportunities for you? I mean I think about social media, you somebody asked for, you know, somebody to take down a tree and you look and there's nine or 10 recommendations and they're all BNI people. You know, it's like we dominate social media when it comes to that kind of stuff.

[B]

Yeah, you may, you know, and you may be in business alone but you don't have to be, you do not have to be alone in business if you're in bni.

[C]

Absolutely.

[B]

I think that's so important. And I tell people, look, you know, no matter what it's going to take your time. It takes time to build a business. You're going to spend time cold calling, you're going to spend time going out and you know, maybe talking to your existing clients to get referrals. You're going to do advertising. I've got nothing wrong with advertising but advertising costs money and oh, how do you make the money? Well you make the money by spending a lot of time doing direct selling. And so to me networking is so much easier than direct selling. And it's a great use of your time because it is, it truly is about farming, not hunting. And when you're Direct selling. You're out there hunting?

[C]

Yes. Yeah, 100%. I knocked on a few doors in my ADT business, and I will tell you, it was not fun. But coming to BNI was fun.

[B]

Yeah. Look, I get it. I mean, I started BNI because of that. A lot of people don't know this, and I think I mentioned in a podcast many years ago, but one of my initial clients, I was hired to train a marketing department how to cold call.

[C]

I remember that.

[B]

I know how to cold call. I did it long enough to know I don't want to ever have to do it again for the rest of my life. Does it work? Yeah, it can work. Although I think it's getting harder. But it's just. I didn't find it as fun. And I think if someone finds it fun, they have an emotional issue.

[C]

They do. They're sick.

[B]

There's something wrong.

[C]

Yeah.

[B]

Any. Any closing thoughts, Shirley, on the time and money aspect?

[C]

No, I think. I think that when we're talking to visitors and we want them to be a part of our network, we just have to be very upfront with them about those two things. And if we do that, you know, I think that we can definitely get them in our room and they can be the best referral that you could give to your chapter.

[B]

And I think it's good to set expectations, too, and say it's not a get rich quick scheme. It's about building relationships. So it's going to take time, but that time pays off over time.

[C]

Yes.

[B]

Yeah.

[C]

Very well said, Shirley.

[B]

Thanks for being back on BNI podcast. I appreciate it. And your region and website is bni ofmidlands.com b n I of midlands.com. thank you so much, Shirley. I appreciate you.

[C]

Thank you so much. It's good to. Good to talk to you.

[B]

Over to you, Priscilla.

[A]

Okay, that's great. Thank you both. That was great information. This podcast is sponsored by MeisnerAudioPrograms.com these audio programs will provide you with the tools and the inspiration to powerfully enhance your B and I experience and help you boost your business. So check out the great material available to [e-mail] and use the promo code IVAN5O for 50% off of all the audio programs. And all of the proceeds are going to go to the BI Foundation. Thank you so much for listening. This is Priscilla Rice, and we look forward to having you join us again next week for another exciting episode of the official B and I podcast.