Thursday, July 21, 2011

How To Maximize Your Earnings

I talk to a lot people in the Home Business Industry and many are struggling.  Several have asked in many forums how I manage to succeed in every venture I launch.  I tell them it is a simple formula of understanding the business, believing in the company I represent, and understanding how to maximize my earnings.

I had 4 people respond to my fortune cookie advice and was shocked they do not understand how to read the pay plan and maximize their earnings.  They are grinding their wheels trying to "push" recruits into being as diligent as they are about prospecting and closing deals.

The reality is the 80/20 rule.  20% of the people will do 80% of the work.  In this industry there is a high burn out rate because it takes discipline to work from home.  It is too easy to be distracted, unfocused, and even a case of the jitters to avoid picking up the phone, or making the connections you need to market the products or service. 

You can do two things as a leader.  The first is encourage your team. 

It does not matter what company your in, all network marketing companies have similar pay plans and the experts know how to maximize their earnings.

Level 1 or Level 0 is always designated as YOU.  In this visual, the company is looking for trees of five to advance levels.  In most businesses there is an incentive to fill out the team structure whether it is a cash bonus, a higher pay rate for direct recruits, or additional residual income. 

In the actual payscale below reflects residual income only.  I want to keep this simple so we will just work with the numbers below. This example shows top money earned by Regional and National Directors.

How do you get there quickly when 80% of the recruits will never do what is required to fill out a tree hindering my efforts?


In the example below you need to recruit 5 people and each of those 5 needs to recruit 5 and so on to max out at the first level. 

My first objective is to recruit my "5".  So hypothetically I have one recruit in these states NJ, NY, AL, FL, CA.  Make sure your passing on your sign ups to people who are really working the business . Say I get another recruit from NY.  I may elect to make an introduction and sign up my NY recruit with my NY recruit training both of them to support each other.  By using this method, I am teaching them to fill out their tree.  This works assuming you see activity in the form of recruits your push to help them create their 5 will be good for the team.  You may give up a little now to your recruit, but your ultimate goal of being in the top earning columns will pay a lot more long term.


The other way of passing a recruit to fill out a tree is to run a contest.  Offer a recruit to the person who does the most 3-way calls, or the most recruits, or the first to close a deal.  Mix it up and keep it interesting to help keep the team engaged in money making activities.

Feel free to connect on Skype: grinwithin to discuss this blog content, or to get assistance developing a plan to maximize your company's payscale.