Are You Focused On Income Producing Activities?
Or are you busy running in 50 different directions like a chicken with its head cut off? If you’re like most people getting started in Network Marketing and trying to build a home business, the picture isn’t really clear as to how you should go about producing income.
I’m sure you have some great income producing activities, but most of them won’t generate income right away!
Let me explain:
Most people, myself included when I first got started, focused too much on the company products, the science behind it all, the compensation plan. How to do social media, building a blog, watching guru videos, studying this and studying that…
The next thing you know, a month has gone by and all of the so called income producing activities you were working on, didn’t bring in a dime.
Yes, having some basic knowledge of your product line and how the comp plan works is important. BUT… None of that is ever going to generate any income.
A lot of us when we just start out in our home business have a limited amount of time because we have so many other commitments to attend to. Like a J.O.B., our families, hobbies etc. Most come into network marketing as a part time gig in order to make some additional income. Especially in today’s economy. So if you also don’t have the time, you can seek services like virtual assistants to help you out in your business endeavors.
Well, if you’re spending all your time doing Non-Income Producing Activities such as the ones listed above, you are setting yourself up for nothing but frustration and disappointment.
Here Are My Top Three Income Producing Activities!
If you focus on these three things, 80% of the time, you will experience a lot less frustration and become successful in half the time.
1. Share Your Opportunity – Prospecting!
It’s as simple as this… If you are not talking to at least 3 people a day and sharing your opportunity, (5 or 10 would be better) then where will the income, come from?
2. Build New Relationships!
This goes hand in hand with prospecting. You have to build the relationship first before you can ever share your opportunity.
Get out and network! Hey these days you don’t even have to leave the house to network, although I suggest you do. There are meet-up groups going on all over the country in every city. Get out an mingle with people, if you’re the type person that shy’s away from socializing, then you need to break old habits, force yourself to get more.
Remember, your not going out there to sell anyone anything! You job at this stage is to build relationships.
If time is really limited then spend an hour a day on Facebook or Google + and start up some conversations with people. Friend the interesting people who are talking business and current events. You can join different groups on Facebook, get connected in forums, start to add value to the conversations going on there. People will take notice and start to look at you as a leader.
DO NOT, I repeat, DO NOT just start hitting them over the head with your new business opportunity. That should be the last thing you discuss. It takes a little time to build a relationship. Some build faster than others. It’s all part of the Income Producing Activities.
Lead with solutions, not your opportunity! You wouldn’t walk up to a complete stranger and ask them to marry you right? This is no different!
The Most Important Of The Income Producing Activities is… (drumroll please!)
3. The Follow-Up!
The fortune is in the follow-up as they say and it’s the most overlooked step in the process, for whatever the reason is.
Quick story…
The other day as I was working on a one of the long term income producing activities, putting together a few new autoresponders for one of my lists, an email came through. It was someone that had opted into my system because they were looking for information regarding how to generate leads online.
That person had just received an email of mine from my autoresponder about Domain Names and Autoresponders. (oddly enough)
Here’s what they had to say:
“Sir what do you want? I’m in college at the age of 48! I have no life anymore and I just want to finish my degree. I don’t think there is anything you can help me with!”
WOW – I thought to myself, how do I approach this one? Or do I just let it go? After all, they were the one that opted-in for this info… But sensing their frustration I decided to follow-up with them immediately. What did I have to lose?
My response:
“I apologize if there has been any misunderstanding. At one time you opted into my website looking for info regarding marketing online. At the bottom of all my emails you will find a link to allow you to Opt-Out so you don’t receive any mail from me”.
I do understand your frustration, I am 54 and a couple of years ago I had to reinvent myself too. I can relate to NOT having a life for a while.
You chose to go back to school, get a degree and most likely will work for a big corporation. I chose to build my own business and in the process, try and help those who are looking for ways to use the internet.
My first time around working for someone else didn’t work out so well, it’s even worse in today’s economy. Corporate America and its loyalties just aren’t what they used to be.
I wish you all the best in the world and hope you can take back your life very soon!
One final thought… At one point you were looking online for something. Perhaps a way to generate some additional income, I am assuming thats how you found me in the first place.
I don’t push my primary business often but thought you might find this intriguing”
I added a link to my latest video capture page and figured I would probably never hear from that person again; or worse, I’d get a really nasty email back!
Much to my surprise, 10 minutes later I received an email with an apology and their phone number saying… If you want to talk business, give me a call.
I about fell out of my chair! 95% of the time I can’t capture someone’s phone number with a direct call to action- LOL!
But if I hadn’t followed-up, who knows how this would have ended! This just proves the most important income producing activities end with the follow-up!
Richard Petrillo,
Connect with me on Facebook
Follow me on Twitter
PS: If you are new to generating leads online and want to build your MLM business the right way…
CLICK HERE For a Proven Formula That is Being Used by Thousands of People Just Like You, and Start Generating Leads Today!
PSS: Share this with your friends on Facebook & Twitter. Leave me a comment below with your Top Income Producing Activities!
Thanks Eruvwu,
I appreciate you taking the time to read and comment here!
All the best,
RichardP
I loved ready it and laughed at your initial reaction to the surprise response you got as I can relate.
Funny enough, I was just discussing income producing activity (IPA) with my team last Friday and it’s precisely as you’ve said it! It’s amazing how people confuse training or writing a blog as IPA. Thank you for sharing and all the best in the future Richard.
Sincerely,
Eruvwu.
Thanks Eruvwu,
I appreciate you taking the time to read and comment here!
All the best,
RichardP
Hey Oscar,
Thanks for stopping by and adding your thoughts!
I like what you’re doing, as long as you are being smart about putting blog links in different groups. You just don’t want to appear to be spamming.
Sharing each others posts is great! Forming a tribe of sorts and being consistent will really pay off in my opinion.
I look forward to reading your article and thanks again for leaving a comment.
Have a great week Oscar!
RichardP
I like your idea on focusing on income producing activities. You suggestions work as well with the traditional way of building our home businesses. With the Internet, we can be a little more specific in regard to the tasks you mention. Here is what I have come up with so far.
putting our blog links in social networking groups (Facebook, twitter, etc.)
purchasing ads
follow-up and broadcast emailing our lists
broadcast emailing our team
syndicating our blog posts
Talking to people online and off
Sharing each other’s post
placing ads
What do you think?
Hi Lynn,
You are so right, “taking action” is the key to success! I think we sometimes get distracted and lose sight of what taking action means. As much as I love to blog etc., in the short term, as you put it… phone to phone, social site to social site, engagement on a daily basis is the best form of income producing activities.
Thanks so much for always adding value to the site.
RichardP
This is a great reminder Richard. Setting yourself up for success takes action, each and every day. Whether that is face to face, phone call to phone call or social site to social site, interaction and engagement is a must.
When you put yourself out there, others get to know you, trust you and then buy from you. And glad that you brought up the point about follow-up. Another way to stay in front of your clients or customers can be a positive outcome and appreciate you sharing your story.
Hi Lynn,
You are so right, “taking action” is the key to success! I think we sometimes get distracted and lose sight of what taking action means. As much as I love to blog etc., in the short term, as you put it… phone to phone, social site to social site, engagement on a daily basis is the best form of income producing activities.
Thanks so much for always adding value to the site.
RichardP
Hi Mary,
Thanks for stopping by and leaving a comment. You are so right, we do get side tracked don’t we!!! I’m glad you have found some value here in your quest for keyword research knowledge.
Happy to hear you found me on BetterNetworker… I love that site! Great people and so much to learn there.
RichardP
Richard,
This is a really great article. I came across you on Better Networker and found my way here. I’m in MLSP as well, what a great tool and community.
We get so busy being busy, we can sometime forget to make any money. Income producing activities are key.
Your articles have been very handy in helping me in my quest to conquer keyword research. Thank you for sharing so freely!!
Mary
Hello Mary,
Thanks so much for visiting my site and leaving a comment. It’s nice to hear from a fellow MLSP member! How’s it going for you there? Are you building much of a team? I just visited your site, great stuff! Looks like you are going after some tough keywords… I did notice that you are not using any H1, H2, or H3 tags as well as Alt tags on your photos inside your post. That will all greatly increase your SEO.. The Alt Tag is basically naming your image with your keyword.
Thanks again Mary!
RichardP