Can you imagine if your current income increased at 5% per month?
It would nearly double every year - that's exponential growth.
My 9-5 income grows exponentially too, although it's only about 3% per year, so it takes 24 years to double!!
Some of the successful people in this business are getting growth in excess of 10% per month!!
It's important for yourself and for anyone you introduce that you don't have (give) unrealistic expectations.
It's difficult to predict what any given person will be earning in say 4 years time. What we can do is illustrate generically how an income might grow.
For example, let's just say that I've just started and that I will get growth of 10% per month and that 3 years from now I'll be earning £4000 per month.
That means that 2 years from now I'll be earning about £1200 a month and in 1 year about £400 a month.
This is not meant to be an accurate illustration but it illustrates the point that at the end of year 1, I'm only earning 10% of the year 3 income and at the end of year 2, about 30%.
That is exponential growth.
In other words, it takes the same length of time to go from an income of £140 to £400 a month as it does to go from £1200 to £4000 a month.
The slow growth at the beginning leads to a lot of people giving up - make sure you and anyone you introduce understand exponential growth so they're prepared for it.
To your success.
Friday, September 23, 2005
MLM
MLM stands for Multi-Level Marketing.
It can also be known as affiliate marketing, network marketing or referral marketing.
Network and referral refer to the fact that we do business by talking (networking) with other people - sharing something we've found that we think they might be interested in.
Multi-Level refers to the most exciting element of the business - that we can introduce others to the business and they become part of our team. We then help those people introduce others and they also become part of our team and so on.
In return for the help we give our team, we earn a percentage commission on all the people in our team, whether they were introduced directly or indirectly.
This is what leads to exponential growth.
To your success.
It can also be known as affiliate marketing, network marketing or referral marketing.
Network and referral refer to the fact that we do business by talking (networking) with other people - sharing something we've found that we think they might be interested in.
Multi-Level refers to the most exciting element of the business - that we can introduce others to the business and they become part of our team. We then help those people introduce others and they also become part of our team and so on.
In return for the help we give our team, we earn a percentage commission on all the people in our team, whether they were introduced directly or indirectly.
This is what leads to exponential growth.
To your success.
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