Designing a business plan for your Network Marketing Business
This post was put up by a very good friend of mine Dan Putnam on designing a business plan for your network marketing business. Dan is going to break the steps for designing your business plan down into 3 parts. If you will try this out every month in 2010 you can watch your business grow. This allows you to see exactly what is working and what is not working in your current plan of action. This business really is not hard there are only 3-steps to building a business and if your business is not growing you probably need to work on 1 or more of these areas. The first step is prospecting check out the information below to find out how this works.
“How do you design a business plan for your Network Marketing Businessâ€
By Dan Putnam
The first step to success in any business is a rock solid plan. I have put together a monthly business plan for my Network Marketing business for over 10 years now and I think it is without a doubt the key to success. Let me explain exactly how I do it. First you need to understand the steps to building your business. You need to prospect, follow up, and train and you need to have a plan of exactly how you are going to do each of those three steps.
Prospecting truly is the lifeblood of your business and there are countless ways to prospect so I am not going to get into that. What you need to do for you business plan is list all of the strategies you are going to use for the month and the cost. I also put what I expect to get from each method and then track the results so I can use this information for my plan for the next month. The old saying “if you fail to plan you plan to fail†is so true, if you do not have an exact plan of action how can you tell what is working or if you are even headed in the right direction. Here are some examples that you might have.
HBC ad coop $250 should generate 25-35 leads and 4-5 sign ups
Pay per click $100 should generate 5-10 leads and 2-3 sign ups
Facebook free add 5-10 friends per day try to connect with at least 3-4 people per week 0-1 sign ups
Try to meet at least 1 new person per week in my local market 1-2 sign ups per quarter
Budget and Goal for the Month $350 goal 5-10 sign ups cost per sign up $35-$70
This is just a basic example you might have 15-20 different strategies or maybe only 1 or 2 but you need some way to track where you are marketing and how it is working. A very successful marketer once told me if you can consistently sponsor people in the cold market for $50-$75 you can make a fortune in this business. People will normally budget $100 or so for marketing their business and if they get results they will continue to market if they do not get results they will normally quit within 60 days. So it is crucial that you have a plan and you can track your success. At the end of every month I track my results and then decide what methods I will use for the next month. If you are not able to bring new people into your business on a monthly basis the chances of you making a good income is almost non- existent. I believe every 6-figure earner sponsors at least 1-2 people per month until they are making at least 100k per year. If you are not doing this get with your upline leader and find out what they are doing on a monthly basis. The goal of your prospecting plan is to create a constant flow of new prospects every month that are looking for an opportunity regardless if you sign anyone up.
The next step is Follow Up…. To be cont’d
To be long-term successful, you MUST have a marketing system for your opportunity. I love mine because it offers total training in the skills of working with people, so that you get better and better‚ and your people can plug into exactly the same system, making it far easier for you to help them.
If you are considering a career in network marketing, contact me for a link to my website. We want you to see what lengths we will go to help assure your success. Never forget the fact, that in Network Marketing, my success will always depend on your success. Take action and get started “Today!!â€Â Contact me by email at hunter645@aol.com or call 734-285-6792.
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Great Post,Herb 2010 here we come.
Bob