08.22.07
Success Ratios
Here is a simple insight that is the key to massive wealth. It will help you overcome the fear of rejection and failure. This understanding will enable you to easily power through slow times. It will allow you to set and accomplish your goals with serenity, confidence, and certainty. It is the one thing that will help you to remain objective, positive, and focused along your journey to success.
When I started in my own business 20 years ago, I received a powerful lesson from my mentor. We were selling self-improvement programs by Paul J. Meyer, and my commission per sale was $1,000. My mentor, George Choriatopoulos, explained the first part of the success formula like this: “Robin, training is essential. The more you learn, the more confident you will become, and the more money you will make. You have to attend our one week of training every single month.”
Well, I soon became the trainer, and I found that I was spending one week per month training other distributors without any payment. Logically, it seemed to me that if I was out selling for four weeks instead of three weeks, my sales would skyrocket. To make a long story short, when I stopped training, I earned less in four weeks than I did in three weeks. Why? Because my skills were so well honed after that week of training, even though I was presenting the training, that my sales were very high in the remaining three weeks!
The second thing George taught me was RATIOS. He said, “Robin, every person you see must give you five referrals. You know how to get referrals from your training. When you call the twenty people, you will get to talk with 17 of them. You will get 12 appointments from those seventeen appointments. Of those 12 appointment, only 10 people will be there, and you will sell two of them. Therefore your RATIOS are: 20:17: 12: 10:2. Each of those two sales will earn you $1,000 and you have to make four appointments every day. That means that each of those 20 referrals, divided by the resulting commissions from two sales, is worth $100 to you. The harder you work, the more you learn, the more experienced you become, the better your ratios will get.”
Guess what? It worked! At first, I was only selling one from every FORTY referrals, but as I became more experienced, my ratios improved, until I was selling every second person I saw. By constantly measuring my ratios, I was absolutely confident, and I could predict my income with great certainty. I knew exactly what I had to do to double my income.
If you know what your ratios are, you can simply increase your action and the law of averages will make you rich. Measure everything. Hone your skills. Jim Rohn knew that he would sell three out of every ten people he got to attend an opportunity meeting. He would tell his friends and referrals that he needed ten people to attend his meeting, that he knew three would buy, that he didn’t care who bought and who didn’t, he just needed ten people to attend his meeting! When you understand ratios, you realize it’s not personal; it’s simply a numbers game. Some will, some won’t, so what? NEXT! Every NO leads you closer to the YES, so just work the numbers.
Once you understand the power of leverage through Joint Ventures, you can use the power of ratios to earn great wealth, by running the numbers through other people and leveraging their time and efforts. The more people are exposed to an opportunity, the more will buy. Paul Getty said he would rather have 1% from the efforts of each of 100 people, rather than 100% of the efforts of one person. Once you create back-end income and cross selling to each transaction, JV’s can turn your understanding of ratios into windfall profits. This objective, rational approach to business can change the way you do business and make you rich, too.
I soon recruited salespeople to work for me, and then found other products to sell in addition to the self-improvement products. Then we turned sales positions into business opportunities and made $150,000 in six weeks.
Robin J. Elliott www.DollarMakers.com
