Why do most people fail in Network Marketing? They usually do not have a viable, working business plan. The majority of distributors in Network Marketing are part time people, yet have no idea how to set up a part time business. For many years I had a part time business that I worked in my spare time. Wrong, Wrong, Wrong. I had to learn the hard way that to be successful I had to set up certain days and times I would work my business, and stick to those days and times. So how did I set up a business plan that would work?
First I called a friend of mine that was already successful and asked her how she set up her business plan. Here is what she told me.
"Where do you want your business to be in two years. If you want to be earning $5,000 per month in residual income, you will need to figure out how many distributors you will need in your business to reach that income." For me that number was 175 distributors but will vary from company to company. Some will be as high as 10,000 distributors and the industry average is 1300. I had my numbers so what next? Her reply was "This is Network Marketing so you will only have to personally enroll about 12 distributors. There are 24 months in two years so you will need to divide 12 by 24." My answer was 0.5, so I knew that I would need to personally enroll 0.5 distributors per month to reach my desired income. Then she said "there are 4 weeks in a month so divide that number by 4." The result was 0.125 so I would need less than 1 distributors a week to be able to retire. Then she said " how many prospects will you need to talk with to get that 1 distributor?" Probably about 20 prospects. Her reply was "divide 20 by 7 as there are 7 days in a week." This worked out to 2.85. That's how simple it is, I only had to talk to 2.85 prospects daily to be able to retire in 2 years. Maybe your presentation is better than mine and you only need to talk to 1 people per day. The main point is to have a business plan and commit to that plan.
Donnie Norton
donniednorton@gmail.com
http://thefreemlmsuccessbook.com
Wow, How simple was that? And most people could do this in a couple minutes a day! Thanks for the post Donnie. You inspired me!
ReplyDeleteI love it great blog. I have to pass this on to my downline. What a great lay out. Thank you for posting this
ReplyDeleteSe you at the top.
Bernard Tritz
Donnie,
ReplyDeleteGood words. Simple, straightforward and it works. Thanks for sharing this needed information.
Steve DeVane
Your writings are looking very good Donnie and the information you put into this post is very useful. Thank you!
ReplyDeleteJayne Cambra
Donnie,
ReplyDeleteYou Blog article on Business plans and the need to have one to succeed is right on. Keep up the good work and best of luck in your business.
Edward Pena
As Zig Ziglar would say, a person without a "plan" is a wondering generality. So you must plan for success. Great job Donnie.
ReplyDeleteLive Limitless,
Ashley Bolivar
Thanks for this simple plan. We need to have business plans to succeed. This is something that people who operate home-based business often overlook. Great post!
ReplyDeleteALL I CAN SAY IS WOW! ! ! You broke it down to being so simple anyone who wants to retire in 2 yrs can..
ReplyDeleteThank you so much for the info...
Linda Britt