Here’s a quick lesson on how to use numbers and ratios to your advantage, especially in network marketing!
A very successful businessmen was telling my friend, Robin Elliot with www.DollarMakers.com, about how to have success with renting when many people quit because of terrible tenants.
The context was buying residential properties and having tenants rent them to pay down the mortgage. This is a risky business, since tenants are protected by the socialist laws and often rip the owners off, don’t pay, damage the homes, etc. He said, let’s assume that statistically, 50% of tenants are very good – they pay, they stay, and they look after the property. the other 50% are the “Tenants from Hell” – they don’t pay , they don’t stay, and they damage the property. How can we use this scary, imaginary statistic to understand how we can reduce risk over time?
Suppose you get twenty tenants in twenty properties. Ten are good, ten at bad (50%). So you get rid of the ten bad ones and replace them with ten new ones. Now, according to our hypothetical statistic, 50% of these new tenants will be great, and the other five will be bad. So you get rid of five. You now have 15 great tenants! So you get five new ones. Half of them will be great, half will be bad. So you kick the bad ones out and replace them… As you can see, over time, you clean out the muck and keep the good tenants, until all your twenty tenants are great.
This objective understanding can be applied to any business situation, particularly when it comes to employees, team members, and Joint Venture partners. If you build a sales team and half of them are losers, keep on replacing the scavengers and parasites with new people until you have the dream team. Most people quit so easily, it’s scary. They try one or two Joint Ventures, they don’t work, so they run home crying to their mommies. They join a business and within two months they’re whining that it doesn’t work. Weak, stupid, lazy, and dishonest people never succeed. Someone once questioned why I “couldn’t keep” my sales team members. I don’t keep parasites on my team. I told them, “I will keep replacing losers until I end up with a team of winners.” It’s a selection process. Some will, some won’t – so what? NEXT!
In Network Marketing, the same applies. Most don’t, some won’t, other’s can’t, no problem. Keep on recruiting and focus on the five percent that will be champions and make you rich, no matter how long it takes – just keep on keeping on UNTIL. Not “IF”, but UNTIL. WHEN. Offer people a good chance, give them the benefit of the doubt, allow them to try to prove themselves, and don’t take it personally when they can’t cut the mustard – just remove and replace. It’s a simple sorting process. Persistence and consistence always wins the day – the tortoise and the hare.
Success is by design, not by chance, and the ability to persists over time is the key to real success.
Thanks to Robin J. Elliott for this lesson, check out more information on what he helps people with at http://www.DollarMakers.com
To Your Success,
Brent Wehmeyer
http://www.BrentWehmeyer.com
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