Post lockdown condition made the entire situation dicey. Lots of people lost their jobs and did not find any hope to get back a stable source of income again. In such a scenario, especially unemployed people are turning towards business ideas.
By borrowing on taking start-up business loans, many people are trying to do something on their own. When we hear about start-ups, two things come to our minds randomly. One is a low budget, and the other is a small business.
Perhaps you have heard about Business Network International (BNI), which offers help to these small businessmen for achieving success. Although many merchants praise this organization for its contribution, we strongly suggest not fussing into this BNI. Before we begin the discussion about why you should not join BNI, let us know about BNI properly.
What is Business Network International (BNI)?
BNI is an international entity that comprises more than 270000 members and a total of 74 countries. Usually, this organization conducts a weekly meeting to consult on recent business trends and share with each other a few referrals. In this way, this organization wants to prove itself working for the benefits of every small-scale business organization.
The motto of this organisation is to help each small scale businessman and to generate new leads. In this way, by exchanging referrals, every entity gets the scope to increase the customer base. Moreover, such small-scale business owners also discuss practical strategies to beat medium-scale business entities.
5 compelling reasons for not joining Business Network International
After viewing the motto of BNI, it may seem like the most desirable organization ever for which you are waiting till now. But actually, the truth is quite different from what you think. For this reason, we are advising you to analyze these reasons twice before going to be a member of Business Network International.
- Due to expensive membership fees
Although the organization always dictates that it is working for small business owners, the membership is actually really expensive. Therefore, for small-scale business people, it is hardly possible to join this organization. If you want to know the membership, then please visit the official website.
However, here we are sharing with you the latest membership fees, which are nearly 450 pounds per year. Apart from the membership fee, there are many other hidden charges are also there. If you sum up all of them, then it will come to almost 1000 pounds per year.
2. Meeting are conducted every week.
Being a start-up owner, it is not easy to get some time to spend leisure. Even so many works need to complete single-headedly. However, it hardly matters for BNI. It fixes the meeting at every week where you must join.
Yes, it is a ‘must’ because it is the rule. Therefore, if you need to spend time just discussing and referrals, it may kill your valuable time. Therefore, if you think there is a tight schedule going on, it is better not to join BNI.
3. No necessity to join for e-commerce businessman
With the advanced technology, now everyone is trying to operate their online business. Therefore, e-commerce has become a trending business category right now. A businessman needs to invest low and get high assured returns, so it has become very popular.
BNI has limitations. It is not at all suitable for such online merchants. It is good for only those who are proceeding with traditional business ideas. The only reason is that BNI is not smart enough and unable to instruct technologically advanced business entities.
4. Not suitable for out of the box business
Usually, BNI guides better those companies which carry out their business by opening a physical shop. Besides, it does not bother to offer referrals to those sellers who do not belong to from traditional category. While start-up is always associated with new and out-of-the-box business ideas, BNI will become completely non-suitable for them.
For example, if you are running a business like make-up courses or nail art or tattooing artists, it is useless to join such an entity.
5. You must help others with referrals.
There is no other reason to join BNI if you do not want to earn referrals. Actually, BNI is the hub of exchanging such referrals where you, too, must contribute. Now, when referrals become necessary activity, then it is not easy to cope up.
Instead of spending money on BNI, you can strengthen your business base by looking for value investors. Besides, if you need a loan today on benefits then apply to a direct lender who will definitely lend you money. So, start looking for funds today and grow the business.