This is the fourth recession since BNI was founded in 1985. Over the course of those years, Dr. Misner has discovered that mindset has a lot to do with how well you can get through a recession.
During the recession of the early 1990s, Dr. Misner attended a networking event where almost everyone was completely fixated on how bad the economy was and how badly they were doing. To his surprise, however, he met a real estate agent who was having his best year yet because he focused on the opportunities.
That real estate agent had made himself a button that said “I refuse to participate in a recession.” (See Episode 48 and Episode 56 for Dr. Misner’s 2008 perspective on this story.)
That button and that conversation summed up a lesson that’s been repeated in subsequent recessions.
Get focused by your fear, rather than frozen by it.
Double down on your networking efforts.
Identify the growth areas in your industry.
If you focus on the problem, you become an expert on the problem. If you focus on the solution, you become an expert on the solution.
This episode is sponsored by Ivan’s Inner Circle. Become a founding member today!
Complete Transcript of Episode 669
Priscilla 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 BNI, Dr. Ivan Misner. Hello, Ivan. How are you today?
Ivan I am doing fantastic, Priscilla. I miss you asking, “How are you and where are you?” but I gotta tell you, it’s nice not having to travel as much as I have traveled. I think I’ve told you this, but I have 2.3 million miles on one airline alone.
Priscilla Wow. That’s, that’s a lot.
Ivan Yeah. So it’s been nice being able to stay home in Austin for a few months. But I wish I didn’t have to stay here because of what we’re going through. But, you know, I always try to help with the positive. So today’s topic is, I think a good one; it’s “I Refuse to Participate in a Recession”.
I started BNI in 1985, and since then I’ve helped navigate the company through three previous recessions. We’ve now entered our fourth recession since the mid 1980s. And having experienced four recessions now, I’ve discovered something along the way. I’ve learned that mindset has a lot to do with how one navigates a tough economy successfully.
Dr. Goulston and us, we talked about that in a previous podcast, and I think it’s so true. This first became really clear to me when I was at a large networking event during the recession of the early 90s, it was the first recession I experienced in BNI. And as I walked around the room in this networking event, it was an, I believe, a chamber function, I discovered the virtually the only topic of discussion was the recession and how bad things were for people. Almost everyone was completely fixated on how horrible things were.
It was incredibly depressing. I mean, it really was; it was the only topic of discussion. And I found myself meandering around the room when I saw someone standing in a corner. And I thought, you know, I’ll go talk to him, and I walked over and introduced myself to him and I asked what he did and he told me he was in real estate. And as he told me that, I prepared myself for this sort of onslaught of horror stories as to how bad the real estate market was in the state, I think I was in Connecticut at this event.
But instead, he said that things were really going well for him. And I was surprised and I said, “Wait, you said you’re in real estate, right?”
He said, “Yeah, I’m in real estate.”
I said, “The real estate market here has dropped significantly, hasn’t it?”
He said, “Yeah, it has.” and he had a little grin.
I said, “And you’re having a good year?”
He said, “Well, actually, I’m having my best year ever.” And I was shocked.
I asked, “You know, are you kidding me? Is this is this your first year in real estate?”
He laughed. He said, “No, no, I’ve been in real estate for more than a decade.”
I said, “How could you possibly be doing so well, given the economy?” And he said, “Oh, I’m not, I’m not wearing it.”
He reached into his pocket and he pulled out a big button. And the button said, I Refuse to Participate in a Recession! (big exclamation point).
I looked at him, and Priscilla, I said, “That’s it? You have a button that says, I Refuse to Participate in the Recession so your business is booming?”
He said, “Well, it’s not just the button.” He said, “It’s the attitude that goes along with it.” He told me, “You see, during difficult times, there are almost always opportunities that exist. And if you want to succeed, you have to focus on those opportunities.”
And now I’m really intrigued, he had me hooked. I said, “Okay, take me to school on this. What kind of opportunities can there really be right now when the real estate market has taken a nosedive?”
And he looked at me, Priscilla, and he said, “Two big ones.” He said, “First, there are real estate investors who buy properties to rent and lease. I’m going to them, sharing that real estate is on sale right now. And I’m saying to them, ‘Don’t be one of those people who come to me in a few years and say, oh, I should have bought that property, that duplex that you showed me.'” He said, “Let me show you this duplex now because you can get it at a steal today.”
He paused and he said, “The second, is first time home-buyers.” He said, “I’m going to them and I’m explaining that they couldn’t afford a home a year ago but they can today, because now the interest rates are down, the market is down. And so first time home-buyers who couldn’t afford to buy a home a year ago, could do it today.”
And he said, “I am selling more real estate than ever. While almost everyone, certainly in this room, is obsessed with the economy and the drop in prices. And yet I’m making a killing.”
And he actually pointed very, very casually at different people. He said, “You know, that’s a real estate agent over there. That’s a real estate agent. That’s a real estate agent.” He said, “Have you talked to any of them?”
I said, “Yeah, I have.”
He said, “Am I right?”
I said, “Yeah, all they’re talking about is how bad business is.”
He said, ” The cool thing about that is I’m gonna have half the competition next year than I have today. Because I’m looking for opportunities. All they’re doing is obsessing about how bad things are. And they’re not looking for those opportunities.
And he wrapped up by just talking about the fact that the button really represented the attitude, and the action that one must pursue when times are tough. So you start with the attitude and then you find the actionable things that you can focus on. He said he was okay with a recession because, you know, a lot of the competition is going to be gone next year.
And what I discovered from this, was what I’ve talked about multiple times on the podcast is people getting frozen in fear versus focused by fear. Most of the people in that room were frozen by fear. He was very focused. He recognized that the economy was bad, but he was focused by it rather than getting frozen by it, letting it scare him. I found that his is not an isolated story. I’ve seen this happen during all four of the recessions I’ve experienced.
Years later, I met someone who left his employment, years after the 1990 experience. He left his employment, cashed out his retirement money. He decided to become an entrepreneur. He started his very own Moving and Storage business. He literally began with one truck and a storage facility, with an office. He opened his doors. He was so excited to start his journey. It was early 2008.
And as he joined the ranks of entrepreneurship, the Great Recession came crashing down on him. He was devastated. All his hopes, his dreams, his cash were about to evaporate.
But he had a similar attitude to the guy that I was talking about that made the button, and he doubled down his efforts in networking. He immersed himself in networking groups, he joined a BNI chapter–that’s how I heard his story–to build his referrals. And at the same time, he integrated Self Storage programs into his business to help people who consolidated homes during this time period. This was one of the few growth areas during the recession; moving — not a growth area, storage — growth area, for people, particularly, who were consolidating homes.
The bottom line was that he also refused to participate in the recession. And while other people were frozen in fear, he was focused on solutions. He came out of that recession, larger and stronger than he was when his company went into it. And you can find him today with many trucks, not just one, many trucks and multiple locations around the United States.
Entrepreneurs have been hit with a double whammy right now. First COVID-19, and now a recession. What I know to be true is that if you focus on the problem, you will be an expert on the problem. However, if you focus on solutions, you can become an expert on the solutions. The solutions will get you through both the COVID-19 struggle and the resulting recession that we’re experiencing now.
A powerful mindset begins with the belief that you can find solutions to the current situation. Belief is that little voice inside you whispering to you about the things that can be, while everyone around you is screaming about the things which can’t be. The right mindset, along with a plan of action, will lead you successfully through these turbulent times.
I for one, Priscilla, am going out today and I’m making more buttons, because I made a lot of them in 1990. I’m going out, I’m making more buttons that say “I Refuse to Participate in a Recession.” And I invite you, the members, to do the same.
What do you think, Priscilla?
Priscilla Oh, I think that’s very positive, Ivan. And, you know, we all need that little bit of positivity and hope and forward thinking and it gives you something to look forward to if you can spend time looking for those solutions. And so I think it’s a great message.
Ivan Yeah, thank you. And you know what’s happened in the previous three recessions? This is too early to tell. But you know, what happened to membership in our previous three recessions, Priscilla?
Priscilla Did it grow? I’d imagine, right?
Ivan Yeah. And what’s funny is, for a little short period of time, people may say, “Oh, yeah, I can’t afford to, you know, join a networking group.” But that doesn’t last long because things don’t get better.
And people then start to say, “You know, I need to do something. And what we’ve discovered—COVID, this was a first for us, where we all learned together how to deal with this—but recessions, we got that. We know how to deal with recessions. Our memberships go up during a recession because you need your network more than ever, during any difficult time.
And so for people that you’re inviting into BNI, you want to say to them “No, no you can’t afford NOT to participate in a program like this, because this will help you get through difficult times.” Like that Moving and Storage guy, like that real estate agent that I talked about. These are important lessons for us that we can all learn from.
And you know that real estate story, I promise at a future podcast, I will do what I said. I’ve had many members asked me about the real estate business that I started before I started BNI. It’s still around today, Priscilla. I promise everyone, at some point I will do a podcast on my real estate investments. That’s it for today, Priscilla.
Priscilla Okay, great. Thank you, Ivan. That was very, very nice.
The sponsor for this podcast is Ivan’s Inner Circle. Go check out the great content available and here’s the address: www.ivansinnercircle.com. He has assembled a variety of interesting topics for you to learn about and also participate in.
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 BNI Podcast.
第666集 引薦人的5個級別(經典播客) 由於 "666 "這個數字對某些人來說意味著一些邪惡的東西,所以我們認為我們將做一個 "魔鬼在細節中 "的播客。 這個主題的細節非常重要,我們認為與數字有關的事情會很有趣。 我們保證,這個主題不是邪惡的。 它很詳細,所以要接受這部分。 米斯納博士曾一度概述了一個引薦的16個級別。但當他在寫第二版《 Networking Like a Pro 》的時候,他意識到他的級別應該與世界上大多數BNI引薦單上的5個級別一致。 這5個層次的介紹是累積起來的,在書中有詳細的闡述。 您分享了希望您的引薦夥伴聯繫的人的聯繫信息。 您還分享了有關與潛在客戶聯繫的人的其他信息(名片,營銷材料,網站)。 你給潛在客戶一個關於你所引薦的人的個人引薦信。 你打一個私人電話,安排潛在客戶和你引薦的人見面。 您可以在潛在客戶和您引薦的人之間進行面對面的介紹。 引薦的級別越低,將其轉化為業務的難度就越大。你的目標應該是給出至少是3級的引薦 引薦人的5個級別在《Networking Like a Pro》第36章。第二版中的第36章。你也可以在Misner博士的博客上閱讀更多關於它們的內容。 由Networking for Success頻道在YouTube上為您帶來。 第548集的文字記錄 Priscilla : 大家好,歡迎回到BNI官方播客,由YouTube上的Networking for Success頻道為您帶來,該頻道有Ivan Misner博士和其他許多網絡專家。我是Priscilla Rice,我從加州伯克利的Live Oak錄音室為大家帶來。我今天在電話中加入的是BNI的創始人和首席願景官, Ivan Misner 博士。你好, Ivan ,你在哪裡? Ivan : 嗨, Priscilla 。我現在很好,我在北卡羅來納州夏洛特的新的全球支持團隊總部,在BNI的全球總部,BNI大約一年多前搬到了那裡,這就是我本週的工作地點。 Priscilla : 很好,跟我說說引薦人的五個級別。 Ivan : 引薦的五個級別-多年來,我已經撰寫了有關引薦的各個層次的書籍。 我曾經將其分解,我認為這是商務引薦中16個引薦級別。 我在 《 Networking Like a Pro 》 第一版中縮小了範圍。 但是在第二...
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