Recording Keeping For your Business

The small business owners I work with often ask me how they should keep track of their receipts and records.  Seems like the paper can get out of hand, and before you know it, you have mounds of paper and you don’t know what to do with it.  I’m told that many of my clients spend days, if not weeks, spreading out all those receipts on the dining room table before they come in to my office for their tax appointment – sound familiar?  Ever had that overwhelming feeling you get when you don’t know what to do or how to do it – but that there ought to be a better way?

There is – recordkeeping for your business doesn’t have to be rocket science.  In fact, if you are a sole proprietor, or self employed, you can use any recordkeeping system that works for you.  The main thing is that you are able to back up the totals that you use for the income and expenses on your tax return.  One thing I know – the better your recordkeeping, the better your tax deductions!  Make sure you don’t miss any write-offs.

Some people can simply separate their receipts into stacks by category and add them up.  If it seems better to write things down, you can record the receipt information on spreadsheets – either manually using ledger paper or on your PC using excel or a similar spreadsheet program (I prefer the electronic spreadsheet)  – in fact, I have a simple excel spreadsheet I’ll send you via email if you request it.

If you have a larger corporation entity or if you want to use an accounting program like Quickbooks Pro, you can try to go it alone or find an accounting professional to help you.   There are many benefits to using a program to record the activity as your transactions happen, instead of having to go back and re-create the records after the fact.  Handle the paper only one time for the best efficiency in recordkeeping

What better time to create a great recordkeeping system than now as you close out one year and start a new one?  For more recordkeeping ideas, email me and I’ll be happy to help you get a simple system that works for you.

Submitted by Debra Schill, CPA.  Join me online at www.AfterBusinessPlanning.com – because it’s what you do AFTER your BUSINESS PLAN that matters most.

Think Outside of the Box

Connect Your Networks

Visitors are the life blood of any membership organization, and the same holds true with BNI.  Unfortunately members have a very limited view of who to invite to their meetings.  Let’s take a look at who and how to invite others to your network of people.

Who…..don’t limit your invitations to only people whom your think might be interested in joining your group. The purpose of having others in the room goes beyond having them join the group.  Every time a guest is in the room and they have the opportunity to hear each member talk about who they are looking to meet, what they do and how they want to be connected.  Every guest has contacts and connections that may be valuable to your fellow members.

Have you thought about inviting any of the following people to your group?

The Superintended of your school system, the principal of your childs school, a person on the police force, fireman, or president of your company, and executive at a local hospital, nursing home, the executive director of a not for profit?  Think outside the box.  Each of these people have organizations that may have needs your chapter members can fill.

When inviting others to your meeting, simply ask them if they would like to meet fellow members of the local business community.  I always tell people that I would love to introduce them to a group of people whom I know and trust, would they be available to meet with me on such and such day and time.  I do not ask them to join, I simply let them make that decision.  After all, BNI sales itself.

Everyone who walks in the room does not have to be a potiential member, they can just be a potential referral source.  Part of Givers Gain is giving your contacts and your members the opportunity to meet each other.

Happy Networking,

Hazel M Walker

First Impressions

Recently several of our chapters had the opportunity to learn what the old saying “You never get a second chance to make a good frist impression” really means.

After visiting a local chapter a couple of visitors called my office to let me know that they had indeed visited a chapter and that they were not interested in join that chapter.  Here is an excerpt from one of our visitors emails. 

Your group was great when I visited, however, since I visited on my own, no one really reached out to me before the meeting started.  Everyone seemed to be in their familiar zone or talking to those they knew.  I have no problem with that, as I meet people very easily and made my way around.  However, there was a time I was standing their alone as I did try to ‘break into’ the inner circle.  It was much more hospitable afterwards, after people heard about me and from me……….It makes it a pretty open playing field for myself, as I get to visit others with no conflicts. 

Add to that, we had visitors tell us they were concerned when the chapter had numerous people absent, 3 showed up late, and 2 left the meeting early.  Needless to say, they too wanted to visit other chapters.

Are you reaching out and talking to the visitors?  They do not know anyone, they do not know the process, they are looking to get involved.  Problem is many of you get to know each other so well, you start talking to one another and forget that there people in the room who don’t know anyone.  You think that someone else is talking to them and someone thought that anyone could do it, ultimately what happens is nobody does it.

So here is the question you need to ask yourself after each of your BNI meeting…….”If I were a visitor here today, would I be impressed with the way this meeting was run and would I submit my applications?”  Be honest. 

Each member is a visitor host, treat the visitors like royalty, potentially they could be a source of future customers for you or for someone else.  Wouldn’t be better if they were in your chapter?  Follow up with them, let them know that you were pleased to meet them, and stay in touch!

Money is Tight – I can’t Afford It

“I can’t afford to join BNI when money is so tight.” Have you heard this comment lately in your region? As this question has been sent to Support Services with a “How do I respond to this?” we wanted to give you our take on this issue.

 

As the economy gets tighter, business professionals must decide where to spend their marketing and advertising dollars. BNI is the absolute best use of those limited marketing funds. For an initial investment of $430, you get a YEAR of a sales force made up of networkers who are actively promoting your business in the community, looking for referrals, passing out your business cards and generating qualified referrals, not “leads.” It’s about leveraging your time and money. How much does one print advertisement cost in your local market?

 

Prospective members may have the misconception that they come to BNI to sell to the people in the room. While we will, of course, buy from them, that is not why one joins BNI as those referrals are limited in scope. It’s important to communicate to visitors, “You join BNI to educate other business professionals on what your business is, how to find you referrals, who a great client is, and to open doors to contacts you otherwise would not have had the opportunity to do business with.”

 

We have a proven, structured organization with a culture of education woven into the very fabric of our organization. BNI is the most successful business referral organization in the world!  It’s a privilege to be accepted as a member. If someone cannot see the value, then they perhaps are not the right fit for the chapter. Sometimes a money argument is really a non-money issue in disguise – in other words, I can easily say money is tight and I can’t come up with $430 when what I actually mean is there’s no way I’m getting to a meeting at 7:00am every Thursday!

 

Let’s talk about the “latte factor.” We aren’t willing to renew for $330 and build these business relationships at a cost of $27.50 per month, yet we’ll spend $70 a month buying just one Starbucks a day or to pay a cable bill? A two-year membership is $510 – that’s only $21.25 a month! I know it may not matter to your members, but it is interesting to point out that in some other countries in the world, BNI participation fees are more than double those in the U.S.

If you always do what you have always done……

If you keep doing the same thing over and over what do you get?  The same exact thing that you have always gotten.  So take a look at your BNI membership, how is it working for you?  Are you doing the same thing over and over?  Does it look like this?

Get to the meeting right on time and talk to a few people about the weather, take a seat in time for the meeting and whisper to the person next to you while the reports are being done.  After all they have nothing really to do with you right?

It’s time for the the referral request, and you have no idea what you want to say so you are busy thinking about what you are going to say instead of taking notes on what the others are asking for.

It’s your turn and you cannot think of what you want, so you just ask for anybody who wants anything you happen to sell.  Now, its time for the 10 minute presentation, and the member is telling you how to make a widget, so you crack joke, whisper to your neighbor and check your blackberry.  When it is time to pass referrals, you well….. you have a few testimonials, a lead, and maybe a one-to-one to turn in.

Does any of this sound familiar?  You can’t join BNI sit back,  do little and think that it is going to work for you.  You have to put some work into it.

Get to the meeting early and meet the guest, take notes when others are speaking, pay attention to the speaker, prepare you referral request in advance, pass referrals not leads and put yout testimonials in writing.  Lead the way, don’t wait for it to happen, make it happen.

Change the way you are doing things for different results!

Best of Luck,

Hazel M Walker

Who have you helped this week?

Networking done well is about helping others.  Giving, sharing, and connecting.   

Zig Zigler says that you can have anything in the world that you want when you help someone else get what they want.

 

At the end of each day I spend time reflecting, wondering who I helped today.  Was I able to have a positive impact on their life, their business, their success?  Helping others is the essences of great networking.  When you put others first, you are practicing the highest form of networking and using Givers Gain.

 

Here are five ways that you can reach out and help a fellow network member.

 

1.  Invite someone – the next time that you are invited to an event, ask if you can invite a guest.  Each of us know 250 people that others do not, we are invited to events that others may not.  When you invite a person to go with you to the event they will have the opportunity to meet new people too.  Networking is more fun in pairs.

 

2.  Forward an article or information that might help them solve a problem or give them an idea for their business.

 

3.  Introduce someone to your network.  Have a catalyst event that will allow you to introduce a new person to your network. 

 

4.  Offer to distribute information for them.  Let a network member know that you are more than willing to hand out their information to your friends, family, clients or network.  It’s a little thing, but can be a big help.

 

5.  Be a sponsor of an event.  Many people serve on boards, volunteer, or host events.  Most are looking for sponsors to help them with the event.  Not only will this help the network member but could be helping a charity at the same time.

 

Sometimes help is as simple as a smile, a connection, a good word or some advice.  At the end of the day, ask yourself, who have I helped today.  

Get Outside Your Chapter

Recently I have noticed that chapter leaders are promoting that their chapter members go out and visit other BNI chapter in the area.  What a great idea!  Especially if you are in a profession that is not represented in another BNI chapter, you can meet other fellow members and tell them about your business.  Taken one step further you could schedule a one on one and beginning the relationship process with other people.  By doing this you will build a powerful Rolodex that will bring value to your members.

On the other hand I often hear members say, “But I’m a Real Estate Agent and all of the chapters have a Real Estate Agent, why would I want to visit.”  Actually that is a very good question, and here are some very good answers.

You will meet people who have professions not represented in your chapter and maybe you can use their services or know someone who could use their service.

You will meet people who have professions not represented in your chapter and you could ask them if they have associates they could place in your chapter.

Just because all BNI chapters run the very same agenda does not mean they do not do something different.  You could take a great idea you liked back to your chapter.  Take the Indiana Business Network that meets on the Northeast side of town, they have taken the Green Thank You idea and printed up their very own version that they use to track one on ones.  Every time a member does a one on one with another they turn in a Yellow One on One Score Sheet.  Great Idea, one you could take back to your chapter.

Maybe you will walk into a chapter and realize that no one greeted you and you felt awkward, and you realize what great Visitor Host your chapter has and why it is so important. 

Regardless of the reason you visit other chapters, there are some common courtesies that you need to remember.
 1.  You are a guest in the chapter, act like a guest.
 2.  You are only allowed to visit a chapter 2 times in a six month period.  Do not
       destroy your credibility by becoming circumventing the BNI Policies.
 3.  If there is someone in the group that does what you do, you may not do your
      regular commercial. Instead, ask for a referral for your chapter.
 4.  Never Ever try to recruit a visitor from a chapter you are visiting. It’s their
      visitor, you will have to get your own.
 5.  Remember to wear your name badge.
 6.  If you pass a referral, put the pink slip in their basket.
 7.  Be On Time and Do Not Leave Early

Visiting other chapters can be a great way of growing your contacts, developing your chapter and your business.  Have fun, and remember what your mother use to say, “Mind your manners.”

Happy Networking

Hazel M Walker

Are You Linkedin

Recently several BNI members have gotten on Linkedin and connected to me.  This is a great way for us to be able to share connections.  As a result of members signing up and getting involved I have been able to make several connections for them via introductions on Linkedin.

Here are a few things that you should remember Before you ask for an introduction……..

• Tell Why you want to be introduced.
• Make sure that your profile is complete
• Make sure it is one of MY 1st degree connections, very rarely will I make the 2nd degree connection.  I might, but I need to be very clear about what you are wanting before I will ask my first degrees to connect you to their first degrees.
• Follow up with me after you have made the connection, let me know if it worked for you.

Also, if you are on Linkedin be sure to write recommendations for each other.  Here are a few tips for the Recommendations.

• Make sure that you write a recommendation that tells  what your results were of having done business with that person.  “They are nice and have a great attitude” will not build a business persons credibility.  Instead, let people know, “I saved money and got the best results ever, we realized an 80% increase in profit, while only realizing and 12% increase in sales.”  Now that is a recommendation that sells.
• Don’t ask someone to write you a recommendation if you have never done business with them.  I am often asked to write recommendations for people whose product or service I have never used, I just know who they are.  I cannot write an effective recommendation.  On the other hand if you have served in the capacity of any of our leadership team member in a chapter, I am happy to write a recommendation.
• Be kind, if someone writes you a great recommendation, either write one for them or thank them very much for the recommendation.

I look forward to seeing more of you on Linkedin!

Hazel M Walker 

How do Your Visitors Feel

I have had several visitors tell me that they did not feel comfortable in the chapter that they visited.  They were not greeted, few people spoke to them and no one ever followed up.  

How are visitors treated when they visit your chapter?  Are they greeted at the door, given a name badge, introduced to other members of the chapter or followed up with? 

The most important people who walk through the door of your chapter meeting are your visitors.  Each visitor knows on average 250 that you do not know.  They may well have your dream referral in their blackberry, the last thing you want them to do is walk out of your chapter and never darken your doorway again.

What should you be doing with your visitors?

• 1.  Visitor Host should be at the meeting 15 minutes before your meeting starts.
• 2.  Every visitor should be greeted and given a name badge
• 3.  Ask them for 2 of their business cards so that you can follow up and have the president introduce them.
• 4.  Introduce your visitors to your fellow members, don’t leave them alone.
• 5.  Thank them for visiting and follow up with them after the meeting.

Visitors pass many referral, visitors know many other people, and visitors carry the message of your BNI chapter to others.  Treat your visitors like gold, it might be in their Rolodex.

Hazel M Walker

 

 

SHARING BNI

One of the things that I love about BNI is the Sharing that takes place.  Members share their time, their knowledge, their contacts, and many other aspects of their businesses and lives.  Based on the concept of Givers Gain, members are encouraged to become active in their Sharing by remembering this simple acronym. 

S = Strategic relationships, BNI chapters are made up of one person per profession, each person who joins develops strategic relationships with each other. By not allowing the competition to join the same chapter, BNI members develop strong strategic partnerships with their fellow members.

H = Helping each other create success is one of the core competencies of any BNI chapter.  They know that it takes the support and help of each other to the create trust needed to build each others businesses.

A=Accountability to each other.  From attending the weekly meetings to following up on the referrals they receive, members understand the holding each other accountable creates unparalleled success for everyone in the chapter.

R = Referrals, unlike any other organization BNI members pass high-level referrals to one another.  BNI members do not sell to one another; they introduce one another to connections and contacts. 

I = Inviting, guest to share in our success and to create success of their own.  BNI members understand the value of growing their chapters and growing their businesses.

N = Network to connect.  BNI members understand that they must network.  Being members and participant in a variety of organizations allows members to help one another in developing referrals and connections for one another.

G = Givers Gain, every BNI member understands the philosophy of Givers Gain.  They understand that you get business by giving business.  Always looking for ways to give to one another BNI members not only know the Givers Gain Creed, they practice it daily, in their chapters and their lives.

 Happy Networking,

Hazel M Walker