Not as much Money in your Check?
Eileen gives helpful advice to those whose MLM income has dropped to help them come through their slump with success and lessons learned.
money, check, financial freedom, success, income, MLM
Chiropractor in Chesapeake
Copyright 2006 Dr. Eileen Silva
I know . . .You thought you’d joined the “dream team” and found what you were looking for. However, just when you began to make some real money after days, months, or even years, of serious effort, and you thought you were on your way to that famous financial freedom, your production took a nosedive.
It’s time to investigate:
Did the qualification change? Did the entire compensation plan change? Did any key leaders quit? Did you experience customer service problems like back orders or defective products? Has any major, identifiable problem triggered the drop? Do you still “love” your deal? Are you prepared to re-build? Can you still enthusiastically recommend the program without reservation? Have your upline sponsors experienced the same thing before? If so, what did THEY do to turn it around?
My husband, Taylor Hegan, and I have identified two kinds of “slumps.” One kind builds character and teaches lessons, and the other signals that the end is near. Sometimes, people brag that they have done nothing in their business for a long time (after a death or illness, for example), and they are STILL making big money. What they are failing to consider is the long term cause and effect of work ethics. Generally, when the work load shifts, the “slump” takes a few months or even years (in a mature business) to occur. Conversely, sometimes you invest heavily in your business and no measurable results occur for months.
When your business “slumps” in the first year, (It is not a question of, “Will it?” but rather a question of, “When will it?”) it is a learning phase, and you need to regroup at the moment you realize what is occurring, determine whether your mentors are experiencing the same thing, and seek expert advice. The “slump” may merely indicate your need to find new leads, enhance your craft mastery, and pursue personal development work. Perhaps you need to get a more noticeable benefit from your program yourself so you project as a better “product of the product.”
It is difficult to market a speed-reading course if you read at a snail’s pace yourself and your product has not improved your reading. It is difficult to build a weight-loss business if you are overweight in spite of applying your products. It is difficult to build a huge organization in a lead-generated program if you can’t convert your leads because they are lousy (why would anyone else want to buy them?).
If your slump is self-induced, you can both overcome it and benefit from it. I developed valuable business talents as a result of blown opportunities and botched business proceedings. I remember flying cross-country early in my career to do an all-day training for 300+ people and finding a total of 3 people (including the host) present in the auditorium. I felt that I had wasted money and time, but I recovered, and as a result of turning that scenario into a useful lesson, I haven’t repeated it.
If a fatal problem with your company caused your slump, (Remember when news came out that the “Phoenix Cookie” had 12 grams of fat and was an illegal, misrepresented product?) then you need to run, not walk, the other way.
If the slump is the result of overwhelming, insurmountable forces beyond your control (a regulatory attack on your compensation plan, removal of your lead product from the line, or your star distributor’s termination), then it might be time to explore other networking options.
One thing’s for sure! Part of the natural business process is learning how to turn a slump in a surge. Buff up those skill sets! In the process, you will go from accidentally building a business to designing an income stream that you can earn from home . . . on YOUR terms. If your checks are getting smaller, take a good look at your slump . . . It definitely holds the key to success for you!