So asks Lulu after the meeting. Your friend hasn’t owned a business before but she’s excited about it. She can work it 5 hours/week.
What’s your answer to her?
If you choose 12 months or less, please comment and tell us below how you did that yourself, assuming you have, and your company.
WOW. This is a loaded question. It depends on many variables, one being what company you are in. The comp plan plays a huge part in the way I would answer this. The person also plays a huge part.
Roxanne Green
Another way to answer that might be telling Lulu how many regularly buying customers it takes to make $2000 a month. It might take 40, or it might take 200. Either way, I agree with Roxanne, it depends on all those things. And what is she willing to do for those 5 hours each week?
Time? I don’t know time. It depends on many things. Here’s what I can tell her. In my company you need 130 regular users of product on autoship to make $2000/mo. There will be bonuses etc on top of that, but this is the minimum your checks will add up to for the month.
How long will it take for you to get that many people? That’s up to you.
Lisa Dingel
Success
I agree with Roxanne, there are so many variables. We were earning that in 3 months… although maintaining it has been the interesting part! And then others in our team still haven’t got close to that.
I think a lot has to do with your choice of marketing methods and other resources, separate from the hours per week.
Cheers
Wendy McQuillan
http://www.myphotosforever.com.au
as much as i like network mktg. the odds are stacked against making major money in them.if you know that and go for it then you enjoy the ride….
Tom thats true with most company’s. But why take a chance with a company that has stacked the odds against you?
Good comments from all. As my lawyer says to every question I ask her … “it depends.”
5 hours/week isn’t very much. However 2 of the biggest variables would be:
1. What she’s selling. High ticket items with high commissions could earn her $2,000 her first month if she only needs to make 4 sales.
2. Who she knows. If she has a warm market of high-powered people, she just may get off to a fast start.
Bottom line is always: You get out of it what you put into it.
Barry Burns
http://www.mademillionsinmlm.com
Hi guys,
When it comes to the subject of money, It is all about choice.
I dont believe that there are any other variables than personal drive and good training from yourself to help anyone earn $2000.00 per month from month one.
The thing that I see most people dont understand is that the money we receive are directly linked to the amount of effort we put in to receive the compensation.
I didnt understand this and became a MLM junkie, registering in 8 companies in a year, looking for “the” perfect product or “the” perfect industry to magically fit into “the” general average or even mediocre clients taste, income and paradyme.
The one variable that stays constant in all mlm’s is that we ALL – no matter what company – can earn at least $5000 per month from retail alone.
BUT! Do we have a strong enough desire to do what it takes? are WE willing to change into the type of person who TAKES ACTION, Who believes in a) HIM/HERSELF b)are focused enough to stand by his/her dream, c)Truely KNOW and UNDERSTAND what the rewards are for the action they are taking.
The Biggest thing that Steals peoples dreams in MLM is the Dream they choose to accept themselves. Most of the programs and businesses that I joined over the last years focused on as many distributers as possible in the least amount of time. Great, it may have worked for the company, the top requiters and even some of the new learners. The fact remains that MOST companies I PERSONALLY joined sold me on a dream of GREED. I created the dream, unrealistic examples was kept under my nose to give them some money now.
And so… I would say that $2000 you can easily earn that in a Year, Six Months, Three Months, A Months, A Week, and perhaps depending on who you are… A day.
Let me first get to know you better and lets find out who you are. As soon as we found out who you are presently then, then lets work out a Plan that is
– Measurable
– Realistic
– Relevant to your needs
as well as daily action steps to make your Plan(Realistic Dream) come true.
Guys I hope this helps you. I know it will help Roxanne.
Blessings
Salmon from South Africa
Hummm, I put in 24 months.
I would assume she sticks with it for at least 6 months when she will have to get trained and convince herself that she can achieve that.
Since February, I’ve been focusing on our sleep aid, a $60/mo product. I make a minimum of $20 on it for RETAILING. Up to $25 max when I
order in bulk and ship myself.
In November I’ve been doing 2hr
of calls just for that 4 days a week. Each call session yielded
on average 1-4 customers for 1 monthly pack. On average 1.5 every 2hr. So that’s 6 customers a week.
I did that for 16 weeks now (holidays and time off factored in) and have a shipped a total of 102
packs so far. Some of those are reorders from the early months.
It looks like 30% are reordering and 18% agree to go on autoship
when I offer it to them.
So I have 14 autoships scheduled
and the rest is first time sales.
Nice thing now is that I start to
get calls from peole who’ve been
referred to me by happy customers
(I got 4 in March).
End of January I jacked up the price to $70 per pack. No reduction in sales AT ALL. So I make an extra 10 bucks and have more leeway to offer discounts on reorders.
http://www.SleepStamina.com
So all those numbers are increasing and I don’t know where it will settle. But it looks like the momentum is building and residual also comes from referrals.
My advice: don’t get hung up on autoships. Many people don’t want to get on autoship, no matter what the discount. So let them order when they want.
A linear extrapolation would say that 14 regular customers in 4 months will need about 24 months to get a 100. I don’t know what the attrition rate is after a year of use.
Of course I get about 4-6% from the
company’s binary that I haven’t factored in but it’s negligible.
My company has released a new product that is a still apatch
but it rejuvenates the whole skin.
I’m just trying it out more effectively now but I have setup
a site to make $90 for a 6 week
supply, so about $60/mo. And will market to affluent residents of SoCal by calling high end Realtors for referrals.
http://www.CelebrityBrilliance.com
Warmest Regards,
Yves Baggi
It can take anything between 84 years to seven days to get good at making customers – it depends on your effort. I guess making that amount of money will be dependent on how quickly you good. Nobody can tell it is up to each individuals’ dedication, effort and willingness to put in a lot of time.
My opinion
Tilly
http://www.bewell.co.za
Five hours really isn’t that much time each week. Maybe once Lulu sees some results she will up her hours and therefore her pay as well.
We can all do anything with a little hard work.
Nancy Carlson
http://www.perfectmombusiness.com
It all depends on how hard you are willing to work including going that extra mile to reachb your goal. Excellent time management, and the ability to stick with it are probably more important than anything else. Write up a plan and stick to it. Be willing to modify your approach daily to find what works best. Be fearless (do not be discouraged by NOs). Consider a “referral program” to obtain leads. All good stuff but you must be willing to do the work and eventually your business will grow. Good Luck and check out my site.
Wow
Now that is an interesting one and |I guess the answer will be different depending on who I am talking to.
How much sales, marketing or leadership experience do they have?
How many hours do they intend to put in?
I can then show them on average how long it takes people to hit that target with my company and tell them how long it took me to hit the target.
If the individual is looking for some quick money and they have no experience of sales, marketing or a big circle of influence which is where I was when I got started in the industry, I would help them understand there is a learning curve to this business hence they need to learn the fundamentals and develop the basic skills.
Once they have developed the skills, they can then set such productivity targets.
Thats my tupence.
cheers
DJ Sobanjo
http://www.lead2excel.biz
While anything is possible, if you take the average person w/ the average comp plan in NM, it’s goig to take them 2-3 years (more like 3) to create a fairly solid residual of $2K/mo ESP if they cn only work 5 hours per week. Yes, there are exceptions but those are not the norm. Truth is, if LULU is ‘average’, she will quit before she see’s even $1K/mo because average people choose to stay average.
“1. What she’s selling. High ticket items with high commissions could earn her $2,000 her first month if she only needs to make 4 sales.”
“2. Who she knows. If she has a warm market of high-powered people, she just may get off to a fast start.”
Not likely. That she would even ask the question, indicates that she is coming from the E or S quadrants. Unless she just wants some extra cash to send her kids to private school, the amount ($2000/mo is just about poverty level in most places) suggests that it is probably E, so she is not likely to have a warm market of “high-powered people”.
Birds of a feather flock together.
I would have to agree with Barry, it all depends and two huge factors are compensation and natural market. A large commission and a receptive warm market and she could do this fairly quickly.
I think however there is one other large factor, her focus and willingness to work. 5 hours a week is not very much and she would have to have a razor sharp focus to pull it off at all, let alone quickly.
In the scenario I envision the entire time would have to be spent in front of a prospect, not looking for one. So again w/o access to a ready market she would have trouble even in the best of circumstances.
In my company a person could be making $2000 a month within the first month on just two sales because of the large commissions. That is personal production however. To produce a residual income would take quite a bit longer but would be doable within about a year at that pace, assuming you marketed the entire program and got a few recruits along the way.
Again, super sharp razor focus, large natural market, and high commissions. Not very likely in most cases, but with that she could get off to a very fast start.
Michael
http://www.wlgweb.com
http://www.grmbeyond.com
http://michael.networkmarketing.com
Like everyone said, it all depends on a lot of variables. I think 36
months at 5 hours per week is very
optimistic.