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Network marketers are always looking for new and improved ways to build their network marketing opportunity. The right activities will do that for you however how do you know which are the "right" activities unless you monitor what your results are?
Utilizing the "Plan, Do and Review" technique, changes to your marketing strategies will be based on the results you will achieve from Do-ing the Plan and Reviewing the results.
Ninety days seems to be the consensus on when the review process should be done although it can also be done monthly, weekly or even daily. However consistency is the key, over a designated period of time before the results of an activity will be realized.
The Plan - start with the end result in mind. Example: in 90 days your goal is to have 3 new business builders join on your front line. Plan what method you are going to do to connect with and present your opportunity to people. If your current results are a 10 to 1 ration (for example) then you already know you have to approach 10 people in month 1 to sign up one. A further 10 people in month 2 and another 10 in month 3. (If you are currently using a method of becoming friends with someone first and your ration is 25 friends to 1 sign up or 100 friends to 1 sign up then adjust your figures accordingly)
The Do-ing - Set your daily schedule accordingly. Do the activities you have chosen to find those 10, 20 or 100 prospects. Diligently. Every day. Discipline yourself that you will spend the hour, 2 or 10 hours a day to do whatever it takes to fulfill your scheduled activities (to get the results you want)
The Review - Of equal importance but the one most often neglected. The plan needs to be reviewed and analyzed to determine if the results you got were the ones you wanted. Your methods if you've worked the plan should bring you the results you've planned for. If not, change them - now !
For anyone who is familiar with snowy winters a stuck car may illustrate the point more clearly. The first plan of attack when you are stuck in snow is to rock the car, back and forth, revving it just enough not to spin the tires. If that doesn't work, you reassess the situation and shovel the snow directly in front of and behind all four tires. Back in the car and once again rock back and forth. Progress, but not enough to see you clear. Shovel some more, assess the situation, add some sort of material directly in front of the tires (floor mats work great) to give yourself some traction and voila you are out. The Plan (or goal) was to get out, you did the actions (without giving up) and you adjusted (reviewed) as you needed to. Your objective was met !
Network marketing is no different. Plan what you are going to do. Do what you need to do. Review to see if your activities produced the results you wanted.
If not - CHANGE something but do it now, don't wait until you've wasted a year or so of your life. Ninety days is as excellent time frame to consistently work on some technique to see if you are going to come up a winner. Every area of network marketing is open to the usage of the Plan, Do and Review technique. Whatever you want - plan, do and then review.
To your success,
Joyce Penner
www.joycepenner.com
Monday, April 27, 2009
Thursday, April 16, 2009
Thursday, March 12, 2009
If you're not moving product - you're not making money !
The heading says it all but if you'll allow me to expand a bit it might narrow the focus to what is important in building a large, solid business.
Truth - The only time you get paid in your business opportunity is when you move product. (True)
Truth - The only activities that are going to generate income is to retail and recruit. (True)
Take 15 minutes increments of your day and stop and ask yourself - is what I am doing right now either retailing or recruiting? Definitions: Retailing - talking to a potential customer about a product that will benefit them. Recruiting - talking to a prospect about your business opportunity.
Any activity that is not either retailing or recruiting is not going to generate any income for you.
As MLMers we have a tendency to get caught up in busy work and each of us can identify what those individual pitfalls are. Example: Writing this blog is not presenting my product nor my opportunity however I have categorized "red" and "green" light times. Eleven p.m. is a "red light" time as talking to people is not a possibility. "Green light" time is anytime I can talk to others. My day is scheduled around red and green light times.
Many, many people are fearful of talking to family, friends or their local market. If you are finding it difficult to tell people you are a network marketer think of yourself as an advertising agency for XYZ company. You are getting paid by XYZ company to tell others about your products (and some may want to make some money doing it). You are the advertising arm so do yourself a favour and go do your job - advertise your products.
Teach your team how to retail and recruit and they will be making money from day one. Last time I checked, 99.9% of people get into network marketing to make money and they are depending on you to teach them how to do that.
Move product - teach others how to move product and your financial success will be guaranteed. Anything less is a disservice to those who joined you, thinking you were going to help them achieve their dreams.
Truth - The only time you get paid in your business opportunity is when you move product. (True)
Truth - The only activities that are going to generate income is to retail and recruit. (True)
Take 15 minutes increments of your day and stop and ask yourself - is what I am doing right now either retailing or recruiting? Definitions: Retailing - talking to a potential customer about a product that will benefit them. Recruiting - talking to a prospect about your business opportunity.
Any activity that is not either retailing or recruiting is not going to generate any income for you.
As MLMers we have a tendency to get caught up in busy work and each of us can identify what those individual pitfalls are. Example: Writing this blog is not presenting my product nor my opportunity however I have categorized "red" and "green" light times. Eleven p.m. is a "red light" time as talking to people is not a possibility. "Green light" time is anytime I can talk to others. My day is scheduled around red and green light times.
Many, many people are fearful of talking to family, friends or their local market. If you are finding it difficult to tell people you are a network marketer think of yourself as an advertising agency for XYZ company. You are getting paid by XYZ company to tell others about your products (and some may want to make some money doing it). You are the advertising arm so do yourself a favour and go do your job - advertise your products.
Teach your team how to retail and recruit and they will be making money from day one. Last time I checked, 99.9% of people get into network marketing to make money and they are depending on you to teach them how to do that.
Move product - teach others how to move product and your financial success will be guaranteed. Anything less is a disservice to those who joined you, thinking you were going to help them achieve their dreams.
Intention + Mechanism = Results
Intention: Move Product
Mechanism: However you choose to do that
Results: The realization of your dreams !
Now go forth and be successful,
Joyce Penner
www.joycepenner.com
Intention: Move Product
Mechanism: However you choose to do that
Results: The realization of your dreams !
Now go forth and be successful,
Joyce Penner
www.joycepenner.com
Monday, March 9, 2009
The MLM business basics
The basics of building successfully in your network marketing opportunity are fairly simple. With the premise in mind that when the word "talking" is referred to it references "presenting" your MLM business to others. Not to be confused with making friends on social networking sites or a casual mention to your family and friends.
Number 1 - You need to be talking to people. You cannot confuse the activity of clicking on traffic exchanges, writing blogs, tweeting, making friends, personal development, organizing your desk with the Number 1 thing you need to be doing - talking to people.
Number 2 - You need to be talking to enough people. Calculate the number of downline you need in each of your "legs" to maximize your pay plan. Using your conversion rate (how many prospects do you need to talk to for each sign up) you can then determine how many people you need to present your business opportunity to each day, week or month.
Number 3 - You need to be talking to the right people. Business building activities do not include telling your 97 year old uncle who's deaf and blind that you have a wonderful network marketing opportunity that will give him the financial security he's always dreamed of.
Number 4 - You need to be talking right to people. Unless you want to live and breath the "sales" approach, learning how to talk to people is crucial. The speed, the tone, the actual verbage needs to be conversationalized and adjusted somewhat to who you are talking to. If you are normally a fast talker you may need to slow down. The "script" you use should be well thought out and presented easily in a conversational manner.
Number 5 - Talking too much to people. Human nature is such that network marketers have a tendency to tell someone everything they know. One young network marketer put it this way "I may not know much but I tell everything I know". Exactly the opposite of what he should be doing. Your network marketing company should have tools. Tools that explain the opportunity, the products, the compensation plan. Maybe there are webinars or recorded calls to send your prospects to. Use every one of those tools when they are appropriate. You are not or should not be the "guru" of your network marketing company. What you want is anyone to be able to duplicate what you are doing. Using tools trains, by example, that even the "newbies" can be successful immediately.
Network marketing is a business and should be treated in the same manner as if you have invested one or two million into a brick and mortar style of operation. A start up fee of $500 or less shouldnt' create the illusion that you can "play" at MLM. It is business. Pure and simple.
To your success,
Joyce Penner
Professional Network Marketer
Number 1 - You need to be talking to people. You cannot confuse the activity of clicking on traffic exchanges, writing blogs, tweeting, making friends, personal development, organizing your desk with the Number 1 thing you need to be doing - talking to people.
Number 2 - You need to be talking to enough people. Calculate the number of downline you need in each of your "legs" to maximize your pay plan. Using your conversion rate (how many prospects do you need to talk to for each sign up) you can then determine how many people you need to present your business opportunity to each day, week or month.
Number 3 - You need to be talking to the right people. Business building activities do not include telling your 97 year old uncle who's deaf and blind that you have a wonderful network marketing opportunity that will give him the financial security he's always dreamed of.
Number 4 - You need to be talking right to people. Unless you want to live and breath the "sales" approach, learning how to talk to people is crucial. The speed, the tone, the actual verbage needs to be conversationalized and adjusted somewhat to who you are talking to. If you are normally a fast talker you may need to slow down. The "script" you use should be well thought out and presented easily in a conversational manner.
Number 5 - Talking too much to people. Human nature is such that network marketers have a tendency to tell someone everything they know. One young network marketer put it this way "I may not know much but I tell everything I know". Exactly the opposite of what he should be doing. Your network marketing company should have tools. Tools that explain the opportunity, the products, the compensation plan. Maybe there are webinars or recorded calls to send your prospects to. Use every one of those tools when they are appropriate. You are not or should not be the "guru" of your network marketing company. What you want is anyone to be able to duplicate what you are doing. Using tools trains, by example, that even the "newbies" can be successful immediately.
Network marketing is a business and should be treated in the same manner as if you have invested one or two million into a brick and mortar style of operation. A start up fee of $500 or less shouldnt' create the illusion that you can "play" at MLM. It is business. Pure and simple.
To your success,
Joyce Penner
Professional Network Marketer
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