Growing your Business

Reviewing Industry Rules = Good Business Practice

In our quickly evolving world, where rules can differ greatly from industry to industry, and from country to country, staying on top of your industry’s regulations is more important than ever.

As you know, BNI was founded on a set of founding principles, our Core Values, which guide us all within the organization. With our Core Value of Lifelong Learning, we encourage every BNI member to know what regulations in their industry may impact them, and to ensure they’re in compliance with those regulations.

As a global business organization, BNI believes that business leaders everywhere should set high standards of conduct, starting of course with compliance with rules and regulations that may be applicable to their specific industry. In fact, it is written specifically into BNI’s Code of Ethics Statement that any industry’s specific professional standards supersede ours.  So, for example, if you’re a lawyer, compliance with your respective Bar Association’s guidelines is imperative. Likewise, if you’re in the residential real estate field in the United States, you should understand and adhere to the Real Estate Settlement Procedures Act (RESPA).

From our perspective, knowledge of, and compliance with, applicable regulations is good business practice. It may make sense to spend some time each year reviewing applicable regulations within your industry and reflecting if your current operations are in compliance with those regulations.  And while getting expert advice can sometimes entail some cost, over time this can be one of the most important investments you make.

At BNI, our goal is to help make you more successful than you ever thought possible, and to do so using a set of Core Values that are as applicable today as they were when BNI first started 33 years ago.  We wish you much success and fulfillment along the way!

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