If you are in Network Marketing, you need to understand that it’s a numbers game and that you can improve your odds of success with an understanding of how the Law of Averages works.
How many of your prospects will say yes to what you have to offer whether it’s a product, service, or the business?
According to personal development expert Jim Rohn, the Law of Averages says that if you do something often enough a ratio will appear. If you talk to 10 people and 1 says yes, your ratio is 1:10. Once the ratio starts, it tends to continue. So if you talk to 10 you’ll get 1. Talk to 10 more, get 1.
As you improve your skills in talking with people and get more experience, your ratio will improve. In the beginning of your network marketing career, you will make up in numbers what you lack in skills. Your ratio may be 1:15 or 1:30, but as your skills improve, so will your numbers.
Here is something that Jim Rohn did in his network marketing business and how he used the Law of Averages. When introducing his family and friends to his business he’d say something like “I’ve got a new business that I would like to share with you. I’m getting about 3 out of 10 people that join the business and I don’t mind that you just come to the meeting and be one of the seven. You’re my friend you’ll do me a favor. It’s not important to me that you like it, it’s not important to me that you buy, it’s just important that you listen.”
This invitation totally took the pressure off his friends and prospects. This strategy was one of his keys to his success. As you start introducing your business to others, know your ratios and start keeping track of the number of people you speak to and how many of them end up becoming a customer or joining your business.
Again it’s a numbers game. As of this writing, one of the highest paid professional Major League baseball players will get paid over $30 million this season. Currently his batting average is .294. This means that for every 10 times he steps up to the plate to bat, he gets out 7 times. 7 times out of 10 he is out…but gets paid over $30 million!!
So the more you fail, the more you’ll get paid!
Remember, network marketing is a serious business so you need to continually work on your skills.
As you talk to more people, you will get better and so will your averages.