So if you have been around for a while you will know of this theory. But I will go into today in some detail for the new people on the block.
The 80/20 rule is a way of measuring your success within network marketing and also a way in which to guide yourself and stay sane to a degree.
So let’s begin and I will show you how the 80/20 rule in network marketing applies to you!
This formula will relate to lead generation, team input, team success, retention. It belongs to them all.
So with lead generation you will need to know that 80% of your efforts will reward you with little of no return, but the other 20% will pay off big time.
With team members 20% of your team will do what they have committed to doing and 80% will meander, make excuses and fall by the wayside.
With call participation, 20% will be on the calls and 80% will have a dear Aunt falling terminally ill every time they are supposed to be on a training call.
Mentor calls, again 20% will be punctual, respectful of your time and on track whilst the 80% will miss your appointments, reschedule without notice or even worse justify their lack of activity in your time after doing nothing.
Retention, now this is a sticky subject. In most network marketing companies the 80/20 rule applies. You need to do some more of your due diligence and make sure you are signing into the right company and if so, these figures can rise significantly.
OK, so time to clarify that the 80/20 rule in network marketing is not actually a negative! It is actually a positive because if you know the deal ahead of time and know the numbers it will have less emotional impact on you. So part of the success formula in Network Marketing is removing the emotional connection to the outcome. If you are not all tied up in knots because Mary promised she would place her ads this week & somehow got way laid and did absolutely nothing, then it will all become so much easier for you in the long run.
So now you know how the 80/20 rule in Network Marketing applies and how it actually functions you will have the upper hand and the head start. This should save you at least 2 years of unexplained confusion within your lead generation efforts and how your team functions and reacts.
By John Hester