Chuck’s MLM Weekly Wisdom # 68: December 23, 2015
Dear Network Marketer:
Welcome to this week’s edition of Chuck’s MLM Weekly Wisdom. I would like to take a moment and wish all of you a Merry Christmas. Enjoy the training.
# 1 The Numbers Don’t Lie
This business is a numbers game. It’s also a game of skill and strategy (and people skills), but the numbers are vitally important. You’re never going to sponsor every person you talk to. You’re going to have to go through a HUGE amount of prospects to build your team and also go through a bunch of distributors to find your leaders.
These are the numbers I’ve experienced in the industry. As a quick LEGAL DISCLAIMER, individual results will vary.
- Typically, I’ve found that about one in five people you talk to will look at a presentation
- About one in five people who watch a complete presentation will join your team to do the business
- About one in five people who join the business will do anything at all with the business
- About one in five people who do anything at all with the business will be fairly serious about the business
- About one in five who are fairly serious about the business will be a major rock star in the business and will build it really big
- Most top earners have 5 or fewer rock stars
So if you wanted to build your business big you would need to talk to 3,125 people to show 625 presentations to recruit 125 people to find 25 fairly serious people to find 5 rock stars.
If you talked to 20 people a day you could do this in about six months. If you talked to 10 people a day you could do this in about one year. And if you talked to five people a day you could accomplish this in a little less than two years.
It’s a numbers game. Work the numbers.
# 2 The 90 Day MLM Challenge
This is a friendly reminder about our 90 Day MLM Challenge that starts on January 1st, 2016. This is a “must do” challenge if you are serious about your network marketing business. You can be a part-timer; that is fine. But, you must be really serious about your business and want to build it big. The fee for participating in my challenge is $100. Part of that money is paid back in prizes.
This is for anyone from any company. It is a no recruiting zone and is also a no bitching and no whining zone. If you would like to learn more about it, and pay the entry fee, check out this page on my website. For about $1 per day, why not do something that can totally transform your business? I hope to hear from you. The registration deadline is December 31st, 2015.
# 3 What to Do When People Quit
Most of your team members will quit at some point. Attrition in this industry is anywhere from fifty to eighty percent per year, if not more. Anyone who says otherwise is lying.
You have to be mentally prepared that people will quit. People will disappoint you. Sometimes you will find someone with tons of potential, only to have them quit. Sometimes you will invest hundreds of hours in one person only to have them quit.
When it happens, it can be devastating emotionally.
What I suggest you do is this. First off, expect nothing out of everyone you sponsor, but hope for the best. Secondly, don’t ever hedge your future success on one specific person. Next, treat your people well and care for them as an individual. Finally, when people do quit, be nice and leave the door open in case they ever want to return to the business.
# 4 Book of the Week
The book of the week this week is “The Slight Edge” by Jeff Olson. My friend Tara gave me this book as a gift and I have to tell you it is one of the best three books I have ever read. I put it right up there with “The Magic of Thinking Big” and “Think & Grow Rich.” It is a masterpiece.
The theme of the book is that everything we do is either working against us or for us. Successful people are no different than unsuccessful people, except that they do little things every single day that move them closer to their goals. This gives them the “slight edge” and allows them to get a little bit better every single day.
This is a great book for anyone who is in a rut or simply wants to take their lives to the next level. Overall, I give it a 10 of 10 and consider it a must read. Order a copy here on Amazon.
# 5 Featured Podcasts
Here are a few podcasts I thought you might enjoy.
- The Easiest Way to Sponsor More People into Your Business
- The Two Most Important Questions to Ask Before You Join a MLM Company
- Your Daily Agenda Determines Your Success in MLM
# 6 Your Path to Success
Success never turns out exactly the way that you think it will. It is never a straight line. Instead, it is a bunch of zigs and zags, ups and downs. You take two steps forward and then three steps back. You build a small group and then everyone quits. You find a superstar and they leave for another company. You schedule a home party and invite 30 people and no one shows up.
Most people think success in our industry will be easy and smooth sailing. They expect everything to go exactly as planned. This gives them unrealistic expectations and normally leads to disappointment.
I’ve also found that most people overestimate what they can do in a year or two and underestimate what they can do in five to ten years. My advice for you is to set your goals, develop a plan, get to work, and be flexible. You don’t have to change your goals, but you might have to change your path or strategy from time-to-time.
Expect disappointment and struggle. Nothing worth accomplishing is fast, free or easy. Good things take time. Rome wasn’t built in a day.
# 7 Challenge for the Week
My weekly challenge this week is to do something nice for someone you don’t even know, without expecting anything in return. Buy someone a lunch, a coffee, pay for their groceries, or whatever else is relevant and within your budget. This is the season of giving. Why not give something and make someone else’s day?
# 8 Being Busy vs. Being Productive
This lesson might sting a little bit. I’ve found that nearly 90% or more of the people in our industry are busy, but not productive. In our industry, there are really only TWO activities that actually put money in your pocket. Those two activities are retailing and recruiting. In order to make those two things happen you must be constantly prospecting, presenting and following up.
No matter how much time you spend building your business each week, you should spend 90 percent of your working hours on retailing and recruiting. That lets you work smart.
What most distributors do is spend time watching YouTube, talking with their sponsor, attending calls, reading company literature, going to meetings, etc. Truth be told, none of those things are money producing activities. People end up tricking themselves into thinking they are working their business because they are busy with busy work.
As I see it, that’s just a way to get tired, burnt out and even frustrated. Work smart. Focus your time and effort on the productive work, retailing and recruiting, and your business will grow. Don’t do it and you will be busy getting nowhere fast.
# 9 How to Motivate Others
So, how do you motivate others? Truth be told, you can’t motivate anyone else to do anything, not permanently anyway. Sure, you can get people to an event, give them a pep talk, spend time with them, recognize them, or countless other things, but none of those things will PERMANENTLY motivate someone else. Those are all temporary motivators.
To put it in context, think about your company’s annual convention. People get there and are really excited. When they get home they are pumped up for a few days, maybe even a week or two, and then they revert back to their old habits and ways. That’s because their motivation doesn’t last.
As I see it, the most effective way to motivate someone is to give them something to lose. I personally believe that the fear of loss is the greatest motivator in the world. When people have something to lose, they will move mountains to keep it.
How do you give your team something to lose? You build taproot legs. You build depth. You grow a team under them as big as possible as quickly as possible, so now the person has something to lose out on. I learned this lesson from my sponsor Don Failla. He teaches that you motivate your group from the bottom up, not from the top down.
When someone on level 20 is motivated and productive, it automatically motivates everyone above them. Light a fire in the basement and watch the heat rise. Food for thought!
# 10 Featured Blog Posts
Here are a few blog posts that I thought you might enjoy.
- Failing Your Way to Success in MLM
- Be Accessible to Your MLM Team
- Investing in Your Own MLM Business
Once again, I wish all of you a Merry Christmas. I hope your holiday season is filled with joy, love, and happiness. If you have questions or need help with anything feel free to give me a call or send me an email. Talk to you next week.
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Chuck HolmesWebmaster, OnlineMLMCommunity.com
Phone: (352) 503-4816
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