I was fighting a tough battle in my first 2 years in network marketing until I learned one of the most important rules(80/20 Rule of Network Marketing) in the world.
It is 80/20 Rule of Network Marketing!
It is commonly known as the Pareto principle and is one of the effective rules about productivity in the world.
This theory was later found to be true in almost all areas of life!
80% of the world’s wealth is owned by the top 20%b
80% of our daily income comes from 20% productive activities.
It’s amazing how it applies to almost everything, but focuses on how you can use it to grow your network marketing business.
Basically, as it relates to your network marketing business, it states that 80% of what you do will be 20% of your results. The other 20% you do will account for 80% of your results.
How to apply 80/20 for successful network marketing business
The life span of your network marketing business will always be the same these activities you expect (talk to people), offers (talk to people you will find) and repeat (teach people who Want to connect with you).
So if your business is not growing the way you want it to, then take some time to figure out how you are spending your time. Are you too busy or are you just “busy”?
Make sure you do 20% of the activities that will make up 80% of your results every day. Of course…. And by continuing this style for 1-3 years … you will create a financial security that can achieve income freedom for you
The effectiveness of our time is a very important aspect if you want to build a great team in the shortest possible time. Let’s see how the 80/20 rule can be used to make the most of your time.
The greatest resource of this life is time. Time is our only precious resource. As you build our network marketing business, you need quality of time to grow our team as quickly as possible. The 80/20 rule is a powerful way to decide what activities you should spend your time on.
There are two types of activities in network marketing. The first set of activities is called income generating activities and the second set is called non-income generating activities. Let’s explain both sets, and give an example.
You read further here 80 by 20 rule for network marketing
Usually, whenever you talk to people outside your company about your product or opportunity.
Receiving customers in person or over the phone
Walk through the hot market and invite in person or phone
1 on 1 presentations, in-house presentations, and large group presentations
Calling to follow-up
Attend events with prospects
Non-income generating activities
In general, any activity that will not directly grow your business
Communicate with your team
Participate in events without prospects
Listening to training materials, watching training videos and reading books
Checking your dashboard office
Learning new skills
Now, you can see where I am going? When you really focus on non-profit activities, it is very easy to consider yourself “working”. Therefore, what we want to do is spend most of our time focused on income generating activities. Here is the general rule of thumb.
Spend 80% of your allotted time on income generating activities
For example, suppose you decided to devote 12 hours each week to grow your network marketing business, and you divided that time into 2 hours from Monday, Monday to Saturday. .
You want to spend around 96 minutes per day (80% of your allotted time) on revenue generating activities. With another 24 minutes, you can read for 10 minutes, reach out to key people on your team, and quickly check your back office(dashboard).
This small change will dramatically improve the quality of your time. Now consider whether your entire group is dedicating 80% of its time for income generating activities and 20% for non-income generating activities. If everyone in your organization understands the 80/20 perfectly. It can quickly start to increase your earnings.
If these activities are in the top 20%, it means you will be doing more of them!
The more you work on top 20% productivity, the more you earn.
The opposite is also true.
80% of your activity gives you only 20% of your income.
You should do at least one of them. So what activities do you think most people spend most of their time?
Your response is right. Its 80%.
But top 20% will take you out of your comfort zone, give you wrinkles on your seat, and is known to convert your phone income generating machine for you. Only if you give majority of your time
Am I saying that these activities(80% task) are not important? No! I am only saying that you should stop doing them altogether. They shouldn’t just take most of the day’s activities.
The more you do 80 activities, the less you earn.
So you should do less of them
80/20 Rule of Network Marketing for prospecting
20% of your prospects will be seriously interested in the business. The other 80% would not be interested. These are the 20% prospects that will help you earn the maximum income so you have to spend more time with them and less time with 80%.
This is why you need to know network marketing questions for prospect
Your goal should be “You can tell yes or no but tell me a s quick as possible so I can move on”
Go find the top 20% prospects that will give you 80% earnings in your business
80 by 20 Rules in Networking Marketing Duplication
Your 20% downline will make up 80% of your sales volume. Most MLM Distributors do not do much
Stop wasting time at 80% which contributes only 20% of your volume!
Time is precious and something you never get back so make sure you work with people who cater to your time and not those who don’t need your time.
When most of your downlines don’t do much, stop worrying. They shouldn’t do much. They are 80% which contribute to only 20% of your volume. You need to avoid being a victim of why people fail in network marketing businesss
Don’t waste valuable time at 80%, but you can still support them by doing weekly training and big events, but they are not worthy of majority of your time.
Focus on the top 20% which gives you 80% results.
So who are the top 20% you need to focus on?
Apply 80-20 rules for your customers and team members, focus your attention on active members or prospects
I guarantee that 80% of your customer product sales come from your top 20%.
Most of your customers (80%) contribute less (20%) to your revenue. The same way as your team members
So I must ask you which customers do you need to take care of?
Not all customers are the same!
Identify your top 20% and aim to serve them better.
80-20 rules in self development
We are fortunate to live in a time where you can learn anything you want.
But it can also be a curse.
Some of you may like to jump out of the book or read random things online.
It is also important to understand the 80-20 rule when it comes to your personal development.
20% of what you learn will contribute 80% of your income this year.
So what should you learn?
You just have to discriminate more with what you present towards other people.
If you are weak in prospecting, then invest majority of learning time on learning about prospecting in network marketing, if its about content creation go for learning on copywriting for network marketers.
80-20 rules for MLM success
The 80-20 rule has had the most effective effect on my professional and personal life.
I apply it to all my decision in my network marketing business.
Before I could anything, I always ask myself is this 20% work that will give me 80% results?
If yes, I will do it.
But if No, I will leave to find most productive activity necessary for my business
Apply it today and you’ll be amazed at the results.
Comment below and let me know how you plan to implement the 80-20 rule in your network marketing business.
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80R rules can keep things in perspective!