Thrive In Any Economy

What is the economy like in your city? In our city oil and gas is big business. A few years ago the price of oil dropped dramatically and it still has not really recovered. This impacted thousands of businesses and hundreds of thousands of people lost their jobs in our province. Large companies cut out most of the Middle Management, leaving Upper Management to do more with less, and the workers on the bottom in a disarray. Many small businesses who had not been networking were wiped away.

Imagine that you owned a catering company in this scenario. You were always so busy creating your product and looking after your staff that you did not bother to attend the big client picnics in the summer. You never joined a networking group either because business was good and you did not see the need for it. The day came when the cuts were made. The Middle Manager who was hiring you to come and do the catering was suddenly gone. Upper Management was now sending someone to Costco to pick up trays of food and you were out of the loop. It did not take too long for you to go under in this economic disaster.

How Does Networking Help?

Networkers meet together and they feed each other leads. In the tough times this is essential to staying alive. In the good times networkers take every opportunity to practice networking. They go to the client picnics personally. They shake hands with the owners and the Upper Mangement. This means that they are hired back sooner. As soon as it becomes impracticable to pick up sandwhiches because one person is doing three people’s jobs, they are now looking for that caterer again, and if you were a wise networking entrepreneur, you are back in the big leagues in no time.

Are you worried about the economy in your city? There is less to worry about when you are connected. You are favored by many and everyone knows your name. That is good for business!

Inside a powerful network we also do not tend to listen to the doom and gloom of economic forcasting. Most people will read the news and tend to believe whatever they read because it is the NEWS! But is that accurate? Or is it someones opinion. Those who are out networking have their boots on the ground where business is being done. They are encouraged and empowered by one another.

At The CIBN we have many small groups that meet weekly in person, or online, and guess what we find out? The Real Estate agents are still selling houses. The Mortgage Broker just got a deal done. The Spa is still selling memberships. The home builder is often so busy he can barely making it to the meeting. What we have discovered is that positive and forward moving people tend to band together. If you want to be one of them, you should join a live or an online group as fast as possible.

Networking Changes Things

80% of all businesses fail in the first 5 years of business. 80% of all businesses also do zero networking. There is a direct correlation between those numbers. Those who network, tend to not go out of business. We know this for certain because in our first 8 years of doing business in one of the worst recessed economies in the world where there were 6000 businesses failing around us every year, and our city was going through a 40% vacancy rate of commercial properties our CIBN Members were not going out of business. We had hundreds of Members from 2013 to 2019 in Calgary, Alberta Canada and we did not lose a single participating Member to business failure in that time.

Why?

First of all, we had created our own economy. Our Members used each other services and they promoted one another to their clients, their friends, their families and their social media contacts. It is really hard to die of starvation when someone keeps slipping bread under the door.

Secondly, the Members learned from The CIBN how to do many things that caused them to increase their own income. The Social Media Boot Camp showed them how to get customers online without buying expensive ads. The Links & Leads Boot Camp taught them to always be ready with a sales contract, and how to use that to get a sale more regularly. They learned to set goals and achieve them at Quarter Launch. All of these training events and courses in the Video Portal changed their bottom line.

Thirdly, they learned from each other. The business coaches in the network gave out fabulous tips in their one minute infomercials and during their 20 minute presentations. They shared valuable, game-changing information and many of the Members began using coaches sooner in their business career than they would have otherwise. The bookkeepers in the group encouraged them to start looking after their business diligently and consistently and they gave them the tools to get it done easily. As a result we did not have businesses going out of business because Revenue Canada shut them down. The Mortgage Brokers and the Financial Planners taught them how to make more effective investments, spend less on fees, and keep more money after taxes. Many of them now own three or more investment houses which cost them the same in mortgage money, but puts them in the top 5 % of income earners in the country!

As we network together we learn about things that work. We miss out on the costly mistakes that don’t work, and we have a fantastic time with a great group of people as we do it. Networking changes lives. It has certainly changed the lives of our Members!