Two men standing on the street corner are approached by a business man. The business man presents them with this question; “Would you rather be given a hundred million dollars today or a penny that will double once a month for the next 48 months?” The first man chooses the penny, the second man says “You’re an idiot” and chooses the hundred million dollars. The businessman smiles and hands the first man a penny and writes the second man a check, then departs. 48 months later the business man asks both men to join him on cruise. As the men meet at the boat the man that chose the immediate return, the money, asks the man that chose the penny how much he’s earned. The man smiles and responds and says “$2,814,749,767,106.55”. The first man freaks out and says “That’s impossible!” By now the business man has joined the duo and says “That’s the difference between an asset and an immediate return. The asset might not have the largest immediate payout but over the long term, if your patient, it will continue to grow and have a larger pay out and a longer pay out period in the end.” This is a mentality many new business owners, especially network marketers, fail to grasp. Many business owners treat their business like a sprint instead of a marathon which this is. |
FLAWS OF A FAST MOVING SYSTEM While it is initially appealing to have a fast moving system due to the fast return of your initial investment, it can lead to total collapse of your system without the right maintenance. The flaw of a system starting out with fast growth, as opposed to slow and gradually increasing growth, is that the large number of new people into the system will lack training. With network marketing training is everything! A new member should be able to fully understand the company and products or services. In a fast moving system training is often neglected due to the rapid enrolment rate. This produces a large system of people that do not understand how the company works or the product or service being provided. In turn this creates a high drop-out rate or low retention rate. In order to create an asset a company must continually be growing and producing income. If people are leaving the system, the income and growth will halt.
HOW TO CREATE A NETWORK-MARKETING ASSET The first step in turning your network-marketing company into an asset is education. As soon as a new member is added to your system, they should undergo a training period. This will ensure that all members have a thorough knowledge of how the company works and of the product or service. A well-educated team is will produce better and stronger leads, thus producing a stronger system of members. A system of thirty people spreading correct information and recruiting with accurate information teamed with proven strategies will produce consistent growth and higher retention rates. This will, in turn, turn your company into an asset. It is much more effective to have thirty people working towards the same goal instead of one person single-handedly trying to build a business on their own. This is for two reasons. The first of which is that word of your products or services or opportunity will spread faster and faster as more people join the system. Second, the information being spread about your company will be more factual and in depth, giving your product, service, or opportunity the appearance of legitimacy it deserves and warrants.
LONG-TERM BENEFITS OF TURNING YOUR NETWORK-MARKETING COMPANY INTO AN ASSET As your company expands and grows with knowledgeable people, the less ground work you will have to do. This is because those thirty well educated people will be doing the same thing as you and creating their own team of well-educated partners doing the same thing as you. Through the law of duplication if each of those people only find a train one person per month your business will double monthly. Using the example of thirty people, the law of duplication, and a little simple math at the end of a year from those initial thirty people your business will be at 122,880 well-educated people. That is creating an asset; the company is experiencing consistent exponential growth and not going through periods of recession. There will be period of slower growth but not recession, this is because if one person falls off the rest of the company will grow cancelling out the weak point in the system.
ABOUT THE AUTHOR Justin is a member of the Mavericks, a collection of young network marketers working towards success. To find out more Justin, the Mavericks and his business check-out Start Building Your Asset Now
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