Time Is Important. Some People Wear It Round Their Neck
Time Is Important. Some People Wear It Round Their Neck
In yesterdays post Value Vs Price In Your Network Marketing Business I gave a list of usable ways to add value to your business by going the extra mile for your prospects and business partners.
Derek Alvarez an all round great guy and leader, check out his quality content at DriveTheLine.com. Derek made a great comment which I want to highlight today.
Derek’s comment was
“Great points, Dwayne.
You laid it all out there in an easily understandable manner.
My 2 cents? There are very few people who actually deserve one-on-one mentoring.
I only work one-on-one with people who are driven and meet me halfway — the rest can plug into the system.”
This is a very true statement and here is why.
80 / 20 Rule
I am sure you have heard of this rule. It is where 80% of the people in your business will do 20% of the work. The 20% which do the work will generate 80% of your business.
This rule isn’t something made up for network marketers, its a universal law and is in all walks of life and business. I can’t tell you why it is like that, but I can assure you it is.
As this is a rule which we can’t avoid it is better that we work with it as best we can.
Don’t Waste Time With Poor Network Marketing Prospects
That may sound harsh, but business, good business is maximizing all the quality components of your business which will make your business grow. If you are wasting time with poor prospects you are slowly killing your business. The key is to spend your time with good prospects!
Business does not stand still, if its not growing its dying!
How To Spot A Good Prospect
This is a general guide which I would like you to add to. I am drawing from my experience and from a few stories of other people experiences that I have heard, so if you feel I have missed out anything put your added value in the comment box. (Thanks)
Good Prospects:
- Have a need, a strong desire for change which they are actively hunting down.
- Know you, follow you and have a keen interest in what you do and what you can offer.
- Value results and benefits of what you have to offer more than the price. You will know this by the questions they ask e.g. How will this benefit me? How can I use this to help others? How much work will I have to put in before I start to see growth?….etc
- Are in a position to buy in the near future. If they are telling you they have no money, BELIEVE THEM. Leave them your contact details and move on.
- Have a good pool of contacts which they can refer you to or start to grow their business with.
You will be able to gather this information by asking the right questions and listening to their responses (you will be surprised how much you can learn from a person when you truly listen to what they are saying and how they are saying it).
People Don’t Value Your Time
For the most part you would of just recently met this person. They don’t know you and they definitely don’t value your time. People find it hard to value anything which doesn’t have a monetary value attached to it.
If they are not going to value your time YOU are the person who has to value it. Leaders (alpha networkers) do this by having webinars, seminars, hotel meetings for the masses (the 80%) and they only work with those who deserve their time (the 20%).
With this smaller group they will have one-on-ones and group sessions where they will mastermind a way for all parties involved to move their business further. This mastermind group has the potential to create massive wealth.
Feel free to research Mike Dillard and The Magnetic Sponsoring Team or Brian, Norbert and Todd from MLM Lead System Pro for proof of this way of thinking and working.
Spending more time with better prospects allows your business grow!
Here Is Another Tip
Spend 80% of your business time creating, getting, acquiring leads, customers, prospects and 20% keeping them.
Life, business and more to the point your network marketing business is a numbers game. The more numbers you have to play with the higher level of results you will achieve.
The typical pattern for a network marketer in their business is:
- Prospecting
- Presenting
- Closing
You Prospect to as many as you can. Some will opt-in for you to then Present what you have to offer to them. Out of those you Present to a few will be open / worthwhile Closing. Its called the Network Marketing Funnel
The more you have to put into the top of the funnel the more will come out the other end.
Here are some way to market your business for free, so you can put more in at the top of your funnel. Free Network Marketing Methods
Share Share Share
As always, share this with as many people as possible. The more that know this the easier our work as network marketers will become.
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Making Good Use Of Time
Dwayne
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{ 20 comments… read them below or add one }
I think this needs to be a number one goal. Listen then Sort. With experience you can read people quickly and either move on politely while being a professional (as you said leave contact info) then focus your time on the hot ones. If you take notes on prospects you can actually go back and review these to see who actually panned out for you and what were the similarities. You'll see a pattern develop for sure.
Hi Dwayne,
That has to be one of the best explanations of the 80/20 rule I have ever read.
Michael
Hey Dwayne,
You make some really good points in here. In my experience, the 80/20 rule is dead on in just about anything you do whether it be NM or something else. Man, this business would easy if the people who would really work the business would be walking around with name tags like “Business Builder” or “Next Mike Dillard” or something along those lines. The proof is in the pudding. Right?
See ya,
Eric McMillan
Twitter: Josh_Garcia
March 11, 2010 at 17:16
Hey Dwayne,
This is great that you are covering the 80/20 rule. If someone doesn't understand the 80/20 rule by reading this post they will want to work hard to make themselves in the 20% if they want to succeed.
Chat with you later…
Josh
This is very timely. Yesterday, someone opted into my Primary busienss autoresponder series. On the landing page it asks multiple questions about the person to get a good “feel” for them. One question was obvioulsy “how much money are you wanting to make?” She put $5000/mo. The next question is “do you have a debit/credit card?” Her answer, NO!
Point here: I'm only going to send her a quick courtesy e-mail and thats the end of it! She would be a waste of my time and energy. How many companies do you know that accept money orders, checks, or cash for product orders?? LOL
Sort and move on!
Twila
Hey Dwayne,
I'm glad I can be some inspiration, man! Thanks for mentioning me and my site, too.
This really is a good explanation of the 80/20 rule and what I love about the Internet is that we can set up systems to do most of the sorting for us.
Hey Josh
Knowing your numbers in business is very important. The 80/20 rule is a law that everyone should know just like the law of attraction.
Hey Richard
Its good practice to sort through your prospects and make sure you are working with the right %.
Sounds like you have it all sorted.
Thanks for passing by.
Hey Michael
Thank you. Its important that people know their numbers
Hey Eric
Ha, name tags. Good idea! I would love to see how people would describe themselves.
Hey Twila
The application form lie. A classic. The tell-tale signs are there. I am glad you know how to spot them.
Keep you eye on her though, you never really know who will surprise you.
Hey P.I. Alvarez
No problem for the mention, thanks for the inspiration.
Systems are great, that why we love the internet.
Dwayne,
I would definitely have to agree with Derek there. Meet the ones that want to work half way. If not you waste your time chasing “tire kickers”!
Great post my friend.
Wayne Vassell, signing out…
80/20 is my favorite and I remember when I first heard this.
Dwayne, it blew me away knowing this is how it is. It turns out it is. Whoa!
One of my other favorites, which you have here is “People Don't Value Your Time”.
My approach to this is I believe they have been called to me. Now it's my duty to appreciate that and deliver. So deliver away.
Thanks for delivering it Dwayne.
Jerome Ratliff
Great Post Dwayne,
I don't read too much from this end of the spectrum. Kind of like a page outa Black Belt Recruiting. I can guarantee that using these strategies you will have more free time, and in one year, you will have a larger team just from putting your focus on the right people.
Hey Wayne
Tyre kickers are the worst kind! I don't understand why they also want to waste their time.
Yes I agree with you and P.I. Alvarez meeting in the middle is great.
Hey Jerome
People really don't value you your time, they barely value their own.
Thank you for passing by and delivering your comment.
Hey Chris
I am still trying to make my content as usable as possible.
Black Belt Recruiting is a great course. If anyone wants it, let me know.
There are unfortunately a lot of people out there who simply waste your time when it comes to prospecting.
Its a matter of learning how to tap into the pool of warm prospects, and spend your time on the best ones, who actually show an above level of interest in this industry.
Apart from my little groan, a great post Dwayne.
Tyre kickers are part and parcel of the business learning how to professionally avoid them is the way to not waste your time with them. Have you heard of the G.A.P method?