May 11
3
Going Out Of Business
Got your big-boy or big-girl pants on? Let’s go ahead and get the awful truth on the table right off the bat….
FACT: 99 out of 100 “home business” entrepreneurs will not make $500 this month.
FACT: 99 out of 100 “home business” entrepreneurs will not make $500 this YEAR.
FACT: 99 out of 100 “home business” entrepreneurs will not make $500 in their LIFETIME.
QUESTION: Where are you in those statistics?
For most people, the the “Going Out Of Business” sign is hanging on their door and they don’t even know it.
Here are some tips you can use to avoid being a statistic…..and how to crash the party at the top of the pay plan:
Tip #1: Have plenty of people to talk to
I will typically show my business to 20-30 people per WEEK. Most network marketers don’t do that in a year. Some, but not many, might do that in 4-6 weeks.
Where do you get these people? Doesn’t matter. They might be friends and family. They might be people you meet during the day.
The easiest way is to ATTRACT them. Just run some ads and invite your prospects to contact you for more information.
Think about it: would you rather talk to 100 people who have NOT asked for information on your business……or 100 people who HAVE?
I don’t care if your sponsor doesn’t do it that way. I don’t care if no one else in your company does it. Show your business to at least 4-5 people per day. You’ll probably wind up as the #1 enroller in your company
If that sounds really difficult, you’re going to find out how easy it is in Tip #2:
Tip #2: Use tools to leverage your time
When I got started in MLM back in the early 90′s, my sponsor had me sitting down and doing one-on-one presentations for prospects. I met people at the mall. I met them at coffee shops. I met them at restaurants. I met them in their living rooms.
And it worked. But the problem is that it’s horribly inefficient. I spent 40-60 minutes doing a presentation for ONE person….when I could have doubled my productivity by just having an extra prospect at the table. Hmm….if I had 4 people at the table, that would have quadrupled my effectiveness. What if I’d had 10 people at the table and I could spend 40-60 minutes doing a presentation for TEN people? Wow! Now, that’s leverage! I’m presenting to 10 people at once.
Oh, wait. What if I’m not that good of a presenter? What if I SUCK at presenting? Plus, how eager are my new prospects going to be to join my business if they think they have to sit around and explain this business to people all evening. In homes, in coffee shops, in restaurants.
Answer: they don’t have to. When I started plugging my prospects into a conference call or (nowadays) a webinar…..BOOM…..my income exploded.
Why? Because a.) I didn’t have to do the presentations and b.) Depending on how many prospects I invited to attend that presentation, I was showing my business to anywhere between 3-10 people PER PRESENTATION! And we did multiple presentations per day!
I think the most I ever had on a single presentation was 79 people. That one presentation put over $20,000 in my pocket in earned commissions.
Tip #3: Focus on income-producing activities
It is SO easy to stay busy. After all, there are lots of things to learn, aren’t there?
Search engine optimization. Designing websites. HTML/CSS. Setting up a blog. Writing articles. Making videos. Encoding videos. Uploading videos. Figuring out how to get Google and Facebook to approve your ads. Learning pay-per-click.
No doubt: you can stay really busy.
Here’s the problem: NONE of that makes money.
Think about it: there’s only a handful of things you can do in this business that actually contributes to earning an income. Here they are:
- Invite a prospect to a presentation
- Follow-up with the prospect
- Collect a decision
- Retail product
That’s about it. Anything else is secondary to that.
In other words, if you’re spending the lion’s share of your time doing ANYTHING but inviting prospects to a presentation and following up…..then you’re not focused on income-producing activity.
And there’s nothing wrong with doing those other things. But they are SECONDARY to the income-producing activities. You’ve GOT to prioritize your time.
So, again….I don’t care if all the “gurus” are telling you need to learn how to put HTML code on your website….or how to write 20 articles a week for SEO…..etc.
Save that stuff until AFTER you’ve called your prospects.
Tip #4: Choose a business that pays you what you deserve
Personal story: when I got started in this industry, I didn’t know anything about business. I was just excited because the people telling me about the company were excited. So, I got excited. I looked at the cost to sign up….but didn’t look very much at what I’d have to do to hit my financial goals. Heck, I really didn’t even have any financial goals. I just “wanted to make some money”.
Needless to say, after I’d been in business for 6 months, I was really confused why I wasn’t making more money. I’d been working my butt off. I had a good sized-team for six month of work. But I wasn’t really seeing the results I expected.
The average person in my organization was spending $100 a month on products. And I was earning about 5% commission on MOST of the people in my team.
In other words, all the time and effort I spent to enroll someone in my company was basically increasing my income by about $5 per month.
Or, to put it another way, if I wanted to earn a simple $1,000 income……the person I enrolled had to stay with the company for over SIXTEEN YEARS for me to earn a simple $1,000 on their purchases.
Oh, and we all know the argument, right? “Well, it’s residual income! You keep getting paid over and over for work you did one time!” And, “Yeah, but think if that person goes and gets three people who go and get three people who go and get three people…….those $5 commissions can really add up one day!”
Yeah. I know. Sounds great. Looks great on paper.
But when you consider that it doesn’t take any more time, effort or energy to earn – say- $1,000 as it does to earn $20…….then it begs the question: why am I not earning what I’m worth?
Residual income is great. In fact, I suspect that one of the reasons we all got involved in network marketing is because we love the idea of getting paid over and over for work done once. And we love the idea of getting paid for other people’s efforts. It’s called “leverage”.
But, I believe one of the biggest problems that keeps people BROKE in this industry is because they join companies that just…….don’t……pay……very…….well.
Learn to think like a merchant….not like a consumer. Don’t buy into the idea that you need to postpone all your financial success to some undetermined date in the future.
It’s fine to delay SOME gratification to the future….but not all of it. You’ve got bills you want to pay right NOW. You’ve got things you need to get done in the next 30 days. You don’t have time to Mickey-Mouse around with $4 commissions or $10 commissions or even $50 commissions.
Once upon a time, it took 3-5 years to make a decent income. Those days are OVER.
If you want to make $5,000 in your first 30 days….that’s possible. (It’s not only possible…it’s being done every month by brand new people in our company.)
Heck, when I made the switch from “nickel-and-dime commissions” to a business that paid what I was worth….I earned over $15,000 in my first 30 days. I hit $40,000 per month before the end of my first year.
THAT is what you deserve. THAT is the kind of income that’s possible for you right now. But you have to get out of the mindset of thinking that everything is supposed to take 3-5 years and that you’re supposed to be happy to earn small monthly commissions.
Plus, let’s be honest: the currency that we get paid in is DECREASING in value. Making $240,000 THIS year is going to have FAR more buying power than earning $240,000 in five years. You’re much better off to be in a pay plan where you can earn serious money NOW than to take your earnings in bits and pieces over the next several years.
CONCLUSION
Making a large income from home isn’t as difficult as most people think. But, to borrow a phrase from Wallace Wattles, you have to do things in “a certain way”.
You have to have the right mindset.
You have to have the right tools.
You have to have leverage in your work (not just the pay plan).
You have to be in a business that pays you a solid “now” income while you’re building that long-term residual.
I’ll say it again: making a ton of money from home isn’t as hard as you think. If you have questions how I do it….let’s talk! You can contact me through my website at http://www.tonyrush.com
To your IMMEDIATE success!
Tony Rush
http://www.tonyrush.com
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