Importance of Recording TYFCB & How to Do It Efficiently
Discover why recording TYFCB is crucial for BNI Aurora members and how to accurately document different types of transactions in BNI Connect, ultimately enhancing chapter strength, fostering relationships, and measuring BNI ROI effectively.
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Presentation Transcript
BNI Aurora Education Moments
Why Recording TYFCB is Important 1. It Reflects Our Chapter s Strength The total TYFCB shows how much business we generate for each other + A higher TYFCB attracts new members, making Aurora stronger. 2. It Strengthens Relationships & Builds Trust When you record TYFCB, you acknowledge the value of the referral you received. This encourages members to keep referring you! 3. It Helps You Measure Your BNI ROI BNI is an investment recording TYFCB helps you track how much revenue you ve earned from your membership. If you're not recording, you may be underestimating the value of your BNI connections. 4. It Supports Leadership Reports & Chapter Recognition The LT uses TYFCB data to measure success and recognize top contributors. If we ALL record correctly, our chapter rankings improve.
How BNI Aurora Members Should Record TYFCB 1. One-Time Sales (Trades, Web Designers, Real Estate, Retail, etc.) If you complete a single transaction, record the full amount after the sale is finalised. Example: A web developer gets a $6,000 project from a referral Record $6,000 TYFCB. Example: A plumber completes a $1,500 job from a referral Record $1,500 TYFCB. 2. Recurring Services (Accountants, IT Support, Marketing, etc.) For ongoing services, record the first 12 months of revenue. Example: A financial planner signs a client for a $300/month investment plan Record $3,600 TYFCB ($300 12 months). 3. Real Estate & Mortgage Brokers Record TYFCB only when the deal is settled. Eg; A mortgage broker arranges a home loan for $500,000 and earns a 0.6% commission Record $3,000 TYFCB.
4. Professional Services (Lawyers, Consultants, Insurance, etc.) If it s a fixed-fee engagement, record the full amount. If it s hourly billing, estimate the first 12 months. Example: A lawyer secures a $8,000 contract Record $8,000 TYFCB. 5. Health & Wellness (Chiropractors, Personal Trainers, etc.) For one-time appointments, record the fee. For ongoing clients, record the first 12 months of expected income. Example: A personal trainer signs a client for $100/session, weekly for a year Record $5,200 TYFCB ($100 52 weeks).
How to Record TYFCB in BNI Connect 1. Log in to BNI Connect. 2. Click Enter TYFCB on the dashboard. 3. Select the member who referred you. 4. Enter the amount of closed business based on your industry. 5. Provide a brief description (e.g., "Website for XYZ Company, $6,000") 6. Click "Submit" done!
