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Tip of the Day Seek Professional Help

Seek Professional Help - For most of us our days are busy enough and trying to plan an investment strategy is beyond our means of understand or our time requirements....

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Affordable Small Business Marketing Strategies

Posted On: 2006-04-24Length:

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You've tuned in to another installment of the Duct Tape Marketing Podcast. Always chock full of simple, effective and affordable small business marketing tips, tactics, and strategies. And now here's your host, America's most practical small business marketing expert, John Jantsch.

Hello, welcome to another edition of the Duct Tape Marketing Podcast. This is your host, John Jantsch, and my guest today is Dr. Ivan Misner. He is the founder and chairman of B&I, Business Networks International, as well as a New York Times' best selling author. Sometimes been referred to as the father of modern networking. Dr. Misner is one of the leading experts in business networking and referral marketing. So welcome Ivan, thanks for joining me.

Thank you. It's great to be here.

Where are you calling from today, I know you do get around the globe occasionally.

I do. I'm actually at my home office, or home location in business here in southern California.

All right. Well we're having southern California like weather here in Kansas City, Missouri this week, so I'm not as envious as I sometimes am. So tell me, for those folks that, amazingly, have not heard of B&I, just, how would you describe what B&I, am I saying it right, Business Networks International?

Singular, Business Network International.

Business Network International. Just briefly describe what that is for somebody who might not know.

Sure. B&I is a referral organization. We allow one person per flavor to join one of our groups, so there's one lawyer, one CPA, one banker, one chiropractor, one travel agent, one florist. They get together every week and their primary purpose is to pass each other a referral. It's not a service club, or a, you know, a social organization, both of which are good groups to be in, but that's not what we are. We're a referral group. We get together every week and help one another generate business. Last year the organization passed 4.4 million referrals worldwide that generated $1.7 billion that with a B, $1.7 billion worth of business for our members worldwide. Now, John, just so you know, that's the same as the gross domestic product, $1.7 billion, is the same as the gross domestic product for the country of Lichtenstein. Ok. It's a small country, I know. But still, it's pretty cool that a group of business people can get together every week and through word of mouth, generate as much business as a small nation in the world. That just blows me away, the power of networking and word-of-mouth marketing.

That is awesome. So, break it down even farther. How does it actually work at the, I think you called it, chapters. So every city, so how does it work at that level?

We have 4,300 chapters in 27 countries. We just opened our last country recently, Taiwan. The chapters meet every single week, so we have 4300 meetings every week around the world. And it's pretty structured. It starts out with open networking, people mix and mingle. Then the formal part of the meeting starts, and people one at a time give a 60-second introduction on who they are and what they do, first the members then the visitors. We do a little administrative stuff, then we have a speaker. The speaker is always a member to talk more about...

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China: A Concise Profile, 2014 Case Solution said:

I can't say a lot in regards to this thought, yet it's really intriguing exchange surely.

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Definition of the Day Distribution Plan

Distribution Plan - a distribution plan is a plan executed by mutual fund companies. The purpose of the plan is too collect and assesses fees to shareholders of the funds, to offset expenses. The expenses could be for advertising costs or sales incentives (rewards for good behavior). The distribution plan...

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