In 1989 a lead group was founded as an informal assemblage of business professionals meeting together at a local coffee shop to exchange leads and develop their businesses through the power of networking. As the group grew in size and reputation, The Business Exchange was founded with a goal of providing professional business people in other Northeast Ohio communities with a successful vehicle to grow their businesses, as well.
Jeff Zemito, a financial planner at Skylight Financial Group, became a member of the Independence chapter of The Business Exchange in 2000, and by the following year eighty percent of his business was a direct result of his membership in the networking organization. Impressed with the effectiveness of The Business Exchange, Jeff made an offer to purchase the company, and in 2004 became the company's new owner. We met recently with Jeff and Vice-President Amy Ryan recently, and listened as they outlined the services and benefits provided by The Business Exchange;
The Business Exchange is the only business development and networking organization in the Cleveland area that's locally owned and operated, and has a full-time staff member dedicated to the success of the organization and its members. We have chapters in ten Northeast Ohio communities and meet weekly in a non-competitive setting with a goal of helping members grow their businesses through qualified introductions and referrals. Although we are a for-profit organization, all of the marketing dollars we receive are re-invested back into the company to ensure our members' success.
We've modeled our business on a concept called the Prospecting Hierarchy. Our members realize that a name and a telephone number is not a referral, it's just a lead, and there's only a twenty percent probability of turning a lead into new business. We encourage our members to turn those leads into introductions by setting up a meeting with all three parties, increasing the probability of gaining new business to ninety percent. Through business coaches brought in on a quarterly basis, we train our members not only to ask for better qualified introductions, but also on methods of giving more effective presentations.
Since purchasing the business, I've hired Amy to work full-time handling the day-to-day activity of The Business Exchange. We've revamped our web site and marketing efforts, in addition to striving to build the company as a community based organization. Our members are ethical people, good individuals looking to help each other grow their business. We've received a great deal of positive feedback on our marketing efforts, and our membership retention rates are the highest we've ever experienced. We currently maintain strategic alliances with eight local Chambers of Commerce.
Our members meet in a non-competitive atmosphere, meaning that each chapter includes only one member from each profession. With some networking organizations, you may find anywhere from several to many insurance agents, mortgage brokers, or financial planners. At The Business Exchange, we limit participation to one member from each profession so our entire focus is on you, your business, and the type of referrals your seeking. All the other members of the chapter will help you grow your business, knowing that every member is also helping them grow theirs.
We provide our members with a weekly newsletter that keeps them up-to-date with what's happening in the community, their chapter, and with other people's businesses. Our newsletter is an interactive feature of our web site, and when we spotlight a member or are discussing a particular business, we include a link that will take you directly to that member's web site. In addition, we have member-to-member benefits in the form of discounts that members can offer to other Business Exchange members.
The Business Exchange has been a proven business development and networking organization since 1989. We invite you to give us a call, attend one of our weekly meetings as our guest, and discover how the power of networking can help you grow your business.
If you're interested in growing your business on a weekly basis and building relationships with other like-minded business professionals, call Amy at The Business Exchange today and don't forget to tell her The Advocate sent you!
