Motivation and Metrics
I have much more to talk about with regard to advertising, but I thought we would take a break today. And that is what you need to do sometimes because you have to enjoy your life. We get so busy beating our head against a brick wall in business that we do not realize we still need to be social, we need other activities, and generally we need to do things we enjoy. If you cannot both live your life and run your business, you will not be someone that people want to be around. It might also be a good idea to avoid business talk in social situations, where we are getting away. Note that we sometimes use social situations strategically for business, but there is a time and place for this.
It can be hard to stay motivated and getting away is one thing we can do to remain motivated to keep pressing on with our business. It is tough going day after day networking to build your business and have nothing happen. I am sure you ask yourself whether this is worth it or not. To determine whether it is worth it, perhaps you measure by looking at sales per contact or new distributors per contact. Personally, I would set the bar a little lower. How many contacts are you making? Of these contacts, how many act interested? You can use this to gauge warm leads per contact. If you are getting any warm leads at all, you are doing pretty well and you should pat yourself on the back.
If you are getting no warm leads at all, perhaps your demographic profile is a bit off. It might be a good idea to look at this and make adjustments. Are you contacting enough people? If your demographic is good and you are contacting these kinds of people, at least one in ten should show some interest. If you are contacting random people, your ratio may be as low as 1 in 100, which can be very discouraging, so make sure to contact the right people.
Metrics is about measuring, as we were measuring warm leads to contacts. We can also measure many other things and try to improve these measurements. However, remember that we want to sponsor the right distributors not just anybody, so we need to do things properly to make sure the right people join. This may mean that only 1 in 100 contacts join but that is ok. Better one hard working distributor than a bunch of drop outs or MLM junkies.
One thing about selling product that you probably need to know. Once you have a lead that wants or needs your product, you need to ask for the sale. I like something like this: If you buy today I can offer you a 10% discount. This creates a little urgency and offers a bargain to the customer. Closing a sale is important in selling but the opposite is true in sponsoring. People will sign up in their own time and you should be there when they have questions. They need to want to do the business, so let them sign up when they are ready.