BNI 926: Hustle Stats

0:00It's Paul in America, make it count at the Ram Drive-in to Fall Sales event, make it powerful with our strongest Ram 1500 ever, make it move with the Ram Heavy Duty with an available Cummins diesel, and make it go the distance with a 10 year or 100,000 mile powertrain limited warranty. Hey, it's Kelly Rowland, you may not know this, but I have Exema, so I get how it can steal your time. But why let Exema take over when you can talk to your doctor about Epglyce? Epglyce, lubricism app, LBKZ, a 250mg per 2mL injection, is a prescription medicine used to treat adults and children 12 years of age and older, who weigh at least 88 pounds or 40kg with moderate to severe Exema. Also called a topic dermatitis that is not well controlled with prescription therapies used on the skin, or topicals, or who cannot use topical therapies, Epglyce can be used with or without topical corticosteroids.

1:05Don't use if you are allergic to Epglyce. Allergic reactions can occur that can be severe. I problems can occur. Tell your doctor if you have newer worsening eye problems, you should not receive a live vaccine when treated with Epglyce. Before starting Epglyce, tell your doctor if you have a parasitic infection. Pay partnership with Lily. Respect your time. Ask your doctor about Epglyce and visit Epglyce.com or call 1-800-LilyRX or 1-800-545-5979.

2:05Welcome back to B&I and the Power of One. Back with yours, show us missions. As always, if you have any questions, topics, etc., you'd like us to talk about. Go to B&I-PowerOfOne.com, leave it there. Today comes all the way from the Philippines. It says, I understand B&I's attempted or piloted or tested many activities in the past. Has it been proposed in the past for members to encode or monitor or track what is the equivalent to, quote-unquote, hustle stats in sports? There are the small actions that helped in closing or referral. For example, a B&I member connected to other B&I members, which resulted in closed business. I understand that if within B&I only the members who received the business and the one who needed the product service encode and connect. Another action is referring to suppliers, someone who a B&I member needs but is not considered a customer client. Appreciate your thoughts on these. This is a great question. I think the answer is we do. There are going to be little things that are nearly impossible to track in B&I connecting from a data point.

3:17But cut both your examples or our track. Then what I would call the hustle stats are what are the activities we control that produce the opportunities for referrals. That's where we use in our regions and right now nationally in the US. It's the PowerOfOne report. I know globally they're using a traffic light report. That's exactly what that's all about. What can we control with our habits, with our efforts that should be creating the opportunities for more referrals? Those are the hustles that's showing up. I'm just going to go off the PowerOfOne because that's our baby and what we use. We're tracking attendance. Are we showing up? Are we showing up consistently? We should be shooting for 90-95% or better attendance. In the PowerOfOne you get half a credit for a sub. Better to have a sub than be absent. Better for you to be there than either one of those two. Are we really consistently showing up?

4:23In the previous podcast we talked about discipline. This is where those things come into play. Then it is one to ones we're doing. Are we doing one to ones? Are we averaging at least one a week? I think you should be doing many more than that. I did many more than that. I've been training on the importance. It's the most important activity you can be doing. Are you at least disciplined enough? Are you consistent enough to be doing one a week? Yes, you're going to go on vacations and you're going to be gone. Good. Do two the next week. Do two the week before? Average. It's an average thing. We look at six months. Are you taking training? Are you getting CUs? Are you committed and disciplined to make yourself a better B&I member? That affects both sides. That doesn't just mean you'll be more efficient so you get more results, which is part of it. But it's also making you better and more prepared to find referrals for other people. And the more prepared you are and your weekly presentation the more you are actually listening when other people do theirs. We track, are you doing bringing visitors?

5:27Are you creating opportunities for you and the chapter by inviting? Bring new people to the room that can potentially do business with another member in the chapter or can do business with you or could join and pass business to everybody in the chapter. If the average thank you for the closed business in the last 12 months in our regions was about $68, $69,000 US dollars. So if I sponsor a member, if I send that and we track what you give, right? So it's going to go both ways. But if I sponsor a member on producing on average, $69,000 worth of closed business for my chapter. Not for any one person because that's going to get spread out, but that's a different way of looking at it. Right? Like, all right, if I bring a visitor and I sponsor a member, I've producing $69,000 in my region, $69,000 worth of business for my fellow members. So that's a hustle thing. That's creating opportunities. And then are you passing referrals themselves? That's the actual ultimate hustle stat. Are you actually producing results? And then comparing those with you, thank you for those business and make sure we're not just passing leads and we're actually passing quality.

6:39So I think those are the hustle stats that we are tracking. They didn't it's always been tracked in the palms report things like power of one and traffic lights and all that. Just give you a way to interpret the data better. So it gives you a score and a color and all that. So you can see, you know, I teach everybody with the power of one. It allows you to see two things instantaneously. Are you active enough to deserve the results? You say you desire an are you being effective enough in that activity? So because again, you could score super high on it, but not give results if your activity is high, but you're really ineffective or you're patting stats or what have you. So it's it allows you to see both of those now to your question. Those are actually tracked as well because those are actually referrals. So both your examples, right? You said, let's just go back to it. Being I member connected to other being I members results in closed business, if you made the connection, you made the referral. Let's just say I have a member in my chapter and they have a need for a product and service. And I know a member in another chapter that can offer that and I connect them.

7:50I'm passing the referral. The person who needed the product service doesn't get the referral credit. They shouldn't they didn't go find that member. They didn't, you know, go to that member and say, Hey, I need your services. If that was a case, then nobody made the connection. So yeah, I'm referring myself. That's a tier one. But in your example, I'm the tier two. If you're referring me, I'm not the I'm the referral. I'm not the referral passer. So if you referred me to another member who could help me, you should get the referral for that. And if there's closed business, you should get the closed business for that. Not the person who was the referral and paid the money, even though there would be an I member. So if that's happening, that's somebody grabbing credit for something that they really weren't responsible for necessarily. And then the other one is a referral, right there. There are two different types of referrals. You should be looking for and asking for and we focus 99.9% of our time on only one of them. And those are transaction based referrals. That's the first type transaction based referral. That is next customer next client next customer next client next customer.

8:56That's what we focus on all the time. But it's only part of what we can be asking for and so we part of what we should be asking for. The other type is called a relationship based referral, which is what you're recommending here. Where I get referred to somebody who may not be a next customer client for me, but is going to refer me to more customers and clients. It's the golden goose versus the golden egg. If you do that, that should be the referral. So again, I'm in your chapter. You refer me to somebody who's in my context here and they start referring me all kinds of business. You get a referral for the tier for that referral. And you should be getting the thank you for closed business for every referral that person passes me because you created that initial relationship. So and again, I don't think a lot of us spend time thinking about these relationship based referrals and asking for them. We just get focused on next customer next client next customer next client. I did a podcast. I have no idea the number years and years and years and years ago. But I'm sure it's searchable. I bet I can even search it while I talk right here.

10:03I use Apple podcast mostly. But so I'm just searching in Apple podcasts right now. So if I type in B and I hamster wheel. I better look him up. There it is. Okay. So, oh my God. We're going to have to redo this one. I bet. But if you want to look at it, it is B and it's my episode number 15. That's how long though. This was in 2013. But I remembered it. B and I episode 15. It is called Are You Stuck in the Hamster Wheel. And what we talk about in that it's a sure one. I'm not so what we talk about in that episode is this analogy of most small business owners being stuck in the wheel. And how do you remove the wheel and to give you the end result of it is it's through relationship based referrals. But you got to listen to that episode. So those are real referrals. Those are real referrals. Part of what you're asking I think is just a misunderstanding of how to track some of these things right. And some people grabbing credit for things that they're not shouldn't be grabbing credit for or not realizing, hey, I should be entering this and what's the end result. How does that get tracked.

11:18We do track the hustle results. It's one of the things that makes me and I different is that we track the hustle results. The hustle stats. And it's one of the things people fight about you and I weirdly enough it's because we're tracking the hustle stats right like the person who scoring really bad in the power of one doesn't want to track in that stuff. Because it highlights where they're not quote unquote hustling where they're not putting in the activity. And so it's kind of a it's a mirror. I love the people who tell me the power of one report doesn't work. It's like, no, it's like saying a mirror doesn't work just because you don't like the reflection doesn't mean it doesn't work. It works. But it does build in a bit of accountability, which is one of our core values for a reason. I will remind all of us. Sometimes I have to remind myself this too. None of us join B and I because we were just had too much free time. We were not having enough fun. We didn't have enough friends and or we just wanted another meeting on our books. Right. So we need to always remain focused on why does anybody join B and I and that is to grow their business grow their business and make it more efficient make it more effective make it more enjoyable by growing it through high quality referrals.

12:33And those don't just happen by magic and when they are happening that way we are relying on luck. And yeah, the bigger the chapter the luck you're going to get all those things, but they are reliant on discipline commitment training and focus all these things right. We got to be disciplined. We got to learn how to do it better. We got to be committed to it. It's work. It's why it's called network. There's a work aspect to it. And part of that is understanding, okay, where am I working really well? Where am I not right now and making those changes, which is why we track those things. And so yeah, I think I really appreciate the question. And hopefully they add some clarity to some things, but I do think we track it. And I would encourage you if you haven't been studying yours, traffic light, power one, whatever your region's using, study it. Really think about where you've been. Review the last six months. Have you been making improvements? Have you been stagnant? Have you been just doing the same thing over and over?

13:34But expecting different results and then more importantly, okay, what do you need to do differently starting today to create the results you really want? As always, preach it to all spread the podcast. Help me help more people. Leave a review. Leave a comment. All the things have a great day.