Internet and Network Marketing - Know Math or NO Money!
What a profound statement "Know Math or NO Money." I will tell you why I am writing this post.
Many times I see people get online and join a business opportunity and never, ever crunch the numbers of their companies pay plan. They don't have a clue as to what to do to begin earning the money they want. All they know is what the network marketing company has told them via the website, splash pages, their sponsor and what they have learned from a webinar they have attended.
It is up to the individual to do their own numbers crunching of the pay plan so they will know what their goal is for success in this business. Of course your company will tell you what they expect of you. They will even give you a plan to build your business and we all know they want to build the company up too. You must have your own plan so you will earn money using their compensation plan.
NOTE: It must be fair and win win for everyone and breakage in the pay plan benefits the company only.
Example: If you sponsor 3 then you have the potential to earn $150. What they don't tell you is that the people you sponsor have to duplicate.
It's all about duplication and having a system for training people to do so.
Let me get back to what I was talking about. You must know math and you must know how much you will earn for each person you bring into the business. When you determine the amount per person, now you can calculate your weekly or monthly income that you will earn when you sponsor someone into the business. Keep in mind it will be your short or long term goal. You must be realistic with your goal so it will be attainable for you. This is a mistake people make by setting their goals too high and when they don't reach it, they feel like they have failed. This is not the case, it's more likely they have set a long term goal.
At this point all that's required is to:
Plan, do, review and adjust your short term goal.
It is very important to do your due diligence and crunch the numbers of your network marketing company compensation plan. Take out the trusty calculator and go through it. Whatever type of plan it is: binary, matrix, uni-level, Aussie two up, and matching check bonuses.
All of these pay plans work pretty much the same and when you study them and know what's involved, you will be able to determine how many people you need to sponsor to make $1,000 a month or $100 a week. It's up to you and how much work you put in to reach your goal.
Always remember in any business opportunity you join, you need customers and business partners. If your business opportunity has no real product or service to offer people for their money, and the only way you earn money is by sponsoring people, it is illegal and a pyramid scheme. The Attorney General will shut it down sooner or later. You'll have wasted time and possibly lose your online reputation.
I am writing this post to make you realize if you don't know math (crunch your MLM network marketing company compensation plan), you will get NO MONEY!
Please, please, please take my advice and do your due diligence and crunch the numbers of your pay plan. This is one step you must do before you join any business opportunity. If you want to know how to find the right business opportunity then I recommend you sign up for my FREE MLM Training simply click the link below.
Free MLM Training and Home Business Mentoring
MLM Coach/Mentor with a servant's heart
Duplication is the key there Terri. A lot of businesses out there do not have the right training and some no training at all. So many people join businesses expecting to earn money immediately and do not want to put the time or effort into a business to build one. So many individuals will jump from program to program and still be in the same spot they were before. I admit, I was one of those at one point. I do agree to do your homework or you could lose many thousands of dollars over time. If a business is legit and you can earn you money, it takes time, persistence, patience and money to build one, and a good mentor to keep you going.
You're all the way right Bob. I had several mentors that were very helpful for me to learn how to be successful online in network marketing.
Great advice contained here Terri, and it bears repeating. I know from personal expierience just joining "Shiny New Object", without due dilligence is a recipie for failure. Many people struggled with math in school and give up just accepting they won't get it. Of course that's not true, you can always find help, if you can and do read you can learn anything.
It's difficult to imagine anyone embarking on a business venture without calculating beforehand how much money they expect to earn and exactly how they will earn it! Yet, as I have found over the years and as you so clearly know, many people do just that! Your article therefore, is a timely reminder to those people, in MLM marketing particularly, who neglect to do their simple homework. Let's hope that those most in need of the guidance, read your article. They sure will be the better off for it when they do!
There's nothing else to add to your comments. You said it right Tom.
Wonderful post and it makes a lot of sense. It is truly something to think about.
The more the numbers are calculated means that it is easier on your business.
Thanks for sharing this one.
Thank you John for your thoughts and it does make sense for all people to crunch the numbers of the compensation. Logical thinking is all it is.
I would like access to your E-book as well.
Done. Check your inbox John.
Excellent advice Terri and I learnt this from you some time ago. Thanks for sharing as this is something that everyone should know.