Absolutely, Yes. Absolutely. Network Marketing’s gift is that it can be worked part-time and the money to be made is substantial.
How are you in math? Relax. You don’t have to be very good to get this. Have you ever heard of the 80/20 rule? It’s an important distribution phenomenon that shows up in our lives over and over again (not just in network marketing). Pardon the history lesson, but it helps to understand what’s going on.
The first observation of the 80/20 distribution was made by the Italian economist Vilfredo Pareto (1848-1923). It came about when he realized 80% of the land in Italy was owned by 20% of the people. Why do YOU care? It turns out that this disparate 80/20 distribution shows up lots of places, yes, including network marketing. But, hold on, don’t jump to conclusions.
Another really smart guy Dr. Joseph Juran (1904-2008) working with Pareto’s observation recognized a universal principle that he called the ‘vital few and trivial many.” That’s important. Because if something is a universal principle, that means it happens everywhere and all the time.
This is Why Network Marketing Can be Done Part-Time
What does it mean ‘vital few and trivial many?” Basically it means that 20% of what you do (think vital few) in your network marketing business will make you 80% (trivial many) of your money. Simple. You’re dealing with ‘cause and effect.’ Only 20% of what you actually do in your business will cause the effect you want, i.e., a profitable business.
In other words, eighty percent (80%!) of your success will come from you doing very few things. Period. That’s why network marketing can be done part-time. Eighty percent of your success will come from doing very few things. The trick is to know what few things (and if you want more money) to do them often.
Right now you should be screaming – What things!
What are the best things for you to do to make your network marketing business a success? Is it being on another training call? Is it re-writing your script? Is it being on Facebook? Is it practicing – again – just to make sure you’re perfect when you do talk to someone? Is it straightening up your office? Should you be training your team? Calling your recruits to motivate them to go to work? How do you know what to do?
Your Pay Plan has the Answers
The answer is in your pay-plan. What do you get paid for? Without even looking, I can tell you, that you get paid for selling product. How do you get paid for selling product? You get paid by collecting personal customers. But there’s more!
Where is the really big money in your pay-plan? Think LEVERAGE. In addition to getting paid for your ‘personal’ customers, you also get paid on every customer that belongs to someone on your team. So, at least indirectly, you get paid when you recruit. When you recruit (think cause), those recruits get customers. Your recruit gets paid and you get paid (think effects).
John D. Rockefeller said it this way, ‘I would rather earn 1% of a 100 people’s efforts than 100% of my own efforts.” Leverage. Your pay plan is loaded with it.
Over and Over Again
What’s the message to you? Think: Team Building. Think: Recruit.
Now let’s go back to Prado for a moment. Why do you think 80% of the wealth is typically held by 20% of the people?
I’ve been in the network marketing industry a business coach for more than 20 years. I’ve been an entrepreneur for more than 40 years. This is what I’ve seen. People who build fragile businesses find something that works but they only do it once or at most a few times. Then they look for something else to do.
People who build strong businesses find something that works and they do it over and over again.
Formula for Part-Time Success
Spend 80% of your time doing what will grow your business. What is that?
Show. Your. Plan.
Don’t have someone to show your plan to.
Ask. Someone To. Look.
Do you want to be one of those 20% who makes 80% of the money in your company? Show your plan 80% of the time you work! Don’t have someone to show your plan to? Ask someone to look. Do these ‘trivial few’ things 80% of the time you work your business and watch them create your substantial paycheck.
Who knows in the part-time you work your business you may actually be one of those 20% who makes 80% of the income in your company.
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