A Social Network for Women in Business, Women Entrepreneurs, and Bloggers
You’ve probably heard people talk about the 80/20 Rule in network marketing. Coach’s newest blog post addresses this rule and helps you understand how to apply it in your YTB business. Read on for more, and be sure to leave your thoughts for Coach in the comments!
A great teacher a couple thousand years ago created an analogy about life that you can apply to your business. The analogy is that when you are planting seeds, some will fall in the path and be trampled. Some will fall into the weeds, where they will suffocate. Others will fall into shallow soil, sprout quickly and die out. Then, a select few will fall into rich, fertile soil and grow tall and strong.
We can apply this in network marketing. Take a look at your team. Some people on your team will try hard, but will quit soon after signing up for different reasons. Other team members will quit simply because there will be too much competition around them to where they won’t be successful. Others will go out and sell many travel programs the first few weeks, and then that’s it for them. A few team members, however, will establish a great foundation, continue to build their team, and be very successful.
John Maxwell teaches a concept he calls the 80/20 rule. This rule stems from the Pareto principle created by Vilfredo Pareto, an Italian economist. Pareto observed that 80% of income in Italy was received by 20% of the Italian population.
The translation into network marketing is that generally 20% of your people will do 80% of the work in your company. This can be applied to all aspects of life. I have seen it in the ministry, sales, network marketing and many other facets of life. Many times in networking we are trying to help everyone win. We will spend more time with the 80% that are struggling, instead of pushing our 20% of people actually doing the majority of the work.
We should focus our strengths on the people that want to work. Those that don’t might at a later time put something together, but until then, work with your people that are busting it everyday. Think about how many more travel program sales they could be making if you focused your efforts on them. John Maxwell says that if you focus on helping the top 20% of your people, you will increase your productivity by 400%.
John Maxwell also says, “Thinking ahead and prioritizing your responsibilities marks the major differences between a leader and a follower.” These are two very difficult things for business people to do.
You must always look to the future and do things in order of importance. With YTB, I am always focusing on helping more people and working towards becoming the largest travel company in the world. Set goals for yourself. Be realistic, but don’t set them too low. Challenge yourself. Maybe your goal is to become a Director. That is a great goal, and you should keep that goal in mind, but also set smaller goals. Goals like you will sell five travel programs a week or host two travel parties a month.
The second part of that is to stick to your goals. If your goals become too easy, make them harder. Continue to challenge yourself until you make that goal as Director. Then, reprioritize your goals to suit your new status.
Be proactive when you are looking ahead at your week. Focus your time where it is needed most. Remember your goals, and you will be successful. - Coach
Add a Comment