Monthly Archives: June 2015

Bonus-rich but residual-poor?

Network Marketing provides two typical ways to make money: bonuses and residuals.

If you concentrate on the bonus money, the one-time payments for successfully coaching your group, you can make a nice income. Many times this is the figure people concentrate on while viewing the opportunity presentation and in the early months or years of their business.

But bonuses do not create a strong, work-when-you-want, steady income.

The irony is, one-time bonus income is more like a job paycheck. Work once, get paid once.

In contrast, the long-term income is what will set you financially free. It is created by customers (and distributors) purchasing and using your product, month after month. In your plan it might be known as “residual” or “percentage overrides.”

A Big Hitter once told me, “The bonuses are in the pay plans to get money coming in while you build the residual income. And time and money freedom come from a healthy residual income.”

Both types of income are important.

Both add to your bottom line.

Only one will set you free.

–LYnn Selwa, “The Rocket Science Coach” ™

#lynnselwa #lynnselwaTRSC #TheRocketScienceCoach #bonusincome #residuals #residualincome #networkmarketing #BonusRichButResidualPoor

The Rhythm of Perfectionism

sepia square Hand on drum

One of my personal struggles is with perfectionism.

As an engineer, being precise was an asset. Making sure– doubly sure– the numbers and analysis were correct could save a million-dollar satellite… or save lives for staffed missions. Plus, my continued employment hinged on how consistently and quickly I could be precise.

In contrast, in network marketing the mindset for outreach is  “good enough” and “just do it.” As motivational speaker T. Harv Eker is known to say, “Ready, Fire, Aim.”

Can you imagine I found it difficult to adopt the new mindset? And in some ways, I’m still dealing with that “perfection” mindset. It creeps into my business in subtle ways.

Do you find yourself saying, “I need more practice, more information, another training session, more time, a cleaner desk?”

That’s the voice of perfectionism talking.

It has a cadence:

Practice, practice, practice, practice, practice, practice, Do, Adjust. (and maybe hide for a while, if the Do-ing didn’t go smoothly)

Does that rhythm sound familiar?

If you have similar challenges, you have plenty of company! And you might receive some benefit from reading this post by Seth Godin.

In the 18+ years I have worked in the network marketing profession, I have learned to catch myself earlier and earlier, and change the beat to

Practice, Do, Adjust, Do, Adjust, Do, Do, Do.

Let it be OK to mess up a little in your presentation. It makes you more human and relatable.

Scared about messing up? Imagine your potential distributors are saying to themselves,

“If that’s their best presentation, and they’re making money, well I’m gonna be a ROCK STAR in this business by comparison!”

(you can stumble your way to success!)

Choose the beat of the MLM drum, and stumble your way to success if you need to!

–LYnn Selwa, “The Rocket Science Coach” ™

#lynnselwa #lynnselwaTRSC #TheRocketScienceCoach #networkmarketing #mlm #THarvEker #SethGodin #perfectionism #TheRhythmOfPerfectionism #drum #rhythm #StumbleYourWayToSuccess

Should you ask?

squarecrop numeral 9 number landscape no glare

I recently celebrated my ninth year with my current company. Many of my friends in other companies have offered their sincere congratulations.

In those nine years, I met distributors who market an astonishing variety of products and services. Makeup, financial products, pet food, legal protection, healthy coffee, weight loss aids, communication products, personal development, household cleaning and decorating, women’s clothing, gold coins, candles, essential oils. And more. I’m pleased that our shared profession is becoming more popular.

When asked to look at another business opportunity, I politely and clearly state, “This is the only company I represent, and I’m happy with my choice.”

Sometimes the conversation sours at that point. Some reps won’t respect that answer and begin to insist, “You can make a LOT more money in OUR company.” Or, “You HAVE to look at our video!”

Okay, I give them credit for expressing passion and confidence.

But is this an effective way to add team members?

Here’s the perspective of a Big Hitter.

–LYnn Selwa, “The Rocket Science Coach” ™

#lynnselwa #lynnselwaTRSC #TheRocketScienceCoach #mlm #networkmarketing

Personal vs. Business Investing

In many households we are taught, “Don’t go into debt.” Some media celebrities tell people to pay off their credit cards then cut them up.

That’s advice — good or bad —  for a person’s household (or personal life).

And as technically-trained people, our schooling has likely emphasized being quote “conservative” with our resources.

When it’s time to grow a business… what should we do? Do the same rules apply?

Entrepreneur.com recently published an article about common money mistakes. I suggest you check out Quote #3 from Lena Presley Gott.

(The lawyers make me say… I am not a professional financial adviser, and this is not provided as financial advice. Please consult with your adviser if you have questions. Invest and spend at your own risk.)

–LYnn Selwa, “The Rocket Science Coach” ™

#lynnselwa #lynnselwaTRSC #therocketsciencecoach #mlm #networkmarketing #residualincome #gooddebt