Learn Then Earn

Apr 29

Learn Then Earn
This entry is part 3 of 4 in the series Mentors.

You’re busy. Well, here’s a news flash, so is everybody else.

Most top network marketers and company executives rarely work “on” their business, instead they are always working “in” their business.  They are so busy putting out fires, that they can’t put up a firewall.  The problem is that to truly keep growing, you must be able to be more strategic and differentiate yourself from others consistently.  You need to carve out the time to work “on” yourself, and “on” your business.

According to Audiotech.com, very few traditional companies do what’s needed to be successful, as 600,000 of them go out of business every year. Over 75% of the products launched every year fail. 38 corporations fell off the Fortune 500 in 2009 alone and only 71 of them from 1995 are still on it.

Just like there are traditional companies that do succeed, there are also networkers that are thriving also.  So why do some networkers thrive while the majority fail to make money?  How do they differentiate themselves?  I believe that Audiotech’s analysis of Fortune 500 companies applies to network marketing leaders.  “They are run by entrepreneurs and executives that consistently consume the right information and act on it.”

  • The average CEO reads about 60 books a year, 60x what the average person reads
  • Bill Gates read 30 books on one recent vacation
  • Warren Buffett credits his success to spending the majority of his time reading business books, periodicals, and company annual reports

It is clear, titans of business read much and often.  Top networkers must also do the same.  The problem is that most new network marketers are out of the habit and frankly do not have the drive that the world’s top performers do to hold themselves accountable to learning and reading. Leaders in networking spend many hours teaching people to do the following things over and over:

  • Teaching of a distributor’s why
  • Name List building
  • How to sponsoring someone new
  • Basic performance metrics
  • Basic understanding of product or service
  • Basic understanding of compensation plan

The problem that newbies and advanced leaders face is significant loss of information after it is presented.  Worse, just because it is taught, there is no guarantee that a newbie will act on what is taught.  How often does a newbie need to be reminded to make a names list before it is done?  Usually more than twice and many new marketers never make a list.

Network marketing training usually comes in a huge blitz.  Many times it is done on a big weekend with thousands of other networkers.  Everybody gets all jazzed up, their is a great feeling of value after huge doses of information is dumped on already loaded down minds.  Within days, information is forgotten and very little sticks.  This is where mentors come in.

Information dump training is better than nothing.  However, if you want lasting results you must have continuous follow-up and accountability.  Truly eager proteges will listen to a mentor and do what is recommended.  The proteges who want to succeed will allow a mentor to congratulate them as well as correct poor performance, even if the correction comes much more frequently than the accolades.

Top leaders can only effectively mentor 10-12 proteges at a time if it is done manually.  Having built large groups I know that I am guilty of being spread way too thin and spending less and less time with the ones I thought were the future leaders.  As a result, my company has created automation tools that will help a mentor automate the learning in smaller chunks.  We have created an accountability system that tracks daily activities.  As a builder I was always curious before my 4 hour drive if my “future leader” was really doing the small things each day that lead to large results.  I typically did not know until I drove all day if I was going to find an empty prospect meeting.  In addition to automating the bullet points above that help a protege start correctly, we also have created a way to track daily activities such as:

  • Business building – contacting, inviting, etc
  • Downline training
  • Time spent planning and reading
  • Upline or mentor contact

To be a leader and profitable in network marketing, new marketers must learn more.  Leaders must automate many of their activities so that they can spend quality time with the networkers actually doing the daily activities needed to grow.  When constant training and accountability is loaded into an automated system that frees a mentor to spend belly-to-belly time with those actually doing the right things great things will happen.

When frequent and even daily training is actually implemented correctly, the benefits to an automated daily training system will result in:

  • More time for leaders
  • More time to spend with achievers (future leaders)
  • More time to live life
  • More time to keep sponsoring
  • More time to have more time

You want to earn more money?  Well, help your people learn more.  You will need to learn to hold them accountable.  You will need to have bullish desire to stick with accountability.  The benefits are too big to ignore.  You may be able to take a vacation without worrying your business is going to burn to the ground.

Series NavigationAccountability & Distributor Pain PointsHolding Proteges Accountable

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