June 6, 2007
Knowing Your Worth - And Acting on It
Guess what! I found another quality Network Marketing blog!
It may sound odd, but I like to find blogs that remind me of things I know (in addition to cluing me in to things I haven't learned yet). In this case the blog author points out that the limit on the income you can generate for yourself is mainly limited by what you believe you are worth. He then goes on to explain in part how our perceptions and beliefs affect our actions and results.
One further step to take with this knowledge and understanding is to decide what it is in your business is worth your time, and what it makes more sense to hire out. Are you worth more than $5 per hour? If so, then why are you doing $5 an hour jobs in your business?
Let's say that you have a goal of making $150,000 per year in your business [tag-tec]network marketing online[/tag-tec]. Tony Rush suggests this amount in his "How to Know What You're Worth" post and it actually works out well for my example. We'll assume a hypothetical work year of 50 weeks (take two for vacation - woo hoo!) and figure that works out to $3,000 per week.
Continuing with the fallacy of the 40 hour work week, your time would be worth $75 per hour. In another perspective, that's $600 per day. Or even $1.25 per minute. And once you get rolling with your business and a good [tag-tec]network marketing training[/tag-tec] program you will work fewer than 40 hours per week (sometimes much less) and so your time becomes worth even more.
Now, what are you doing in your business that you could hire out for less than $75 per hour?
If you're working a lot more in the "on ground" aspect of your network marketing business - that is you're doing presentations and follow-ups in person or by phone - then those are not things that can easily be hired out. In fact, as your "on ground" business grows that is some of the stuff that you will be training other "on ground" people in your business to do. If you take orders by phone and do other customer support activities for retail customers, then that is something it would be worth your time to outsource.
When you get more into [tag-tec]internet network marketing[/tag-tec] you will be able to automate or oursource more of the business, freeing you up to explore new markets, make connections with new people, and support your business associates.
The thing about doing an internet business, is that the number of things you do to support it can creep up on you. First you need to build and support a web site (much easier if you use a blog). If you want people to see your web site, then you need to either advertise or otherwise make your blog more visible on the web.
Writing and distributing articles is just one technique used for "getting the word out" about your web site. Let's assume you're really good at writing articles and it only takes you about an hour to write a quality 600 word article on a topic related to your business.
That's worth $75, right?
Now you need to distribute it to various article directories. Being optimistic, that will take you about another hour depending on how good you are and how many directories you want to submit to.
There goes another $75 of your time.
So that two hours of your time cost you $150. That's not even including the loss of productivity during that hours that could have been making money instead of spending time.
The upshot of this example is that you can find people who will write and distribute that article for much less than $150. It would be more like $30 to $50 for a really well done and researched article. You can even get shorter articles for around $5 if you don't care as much about the quality.
So the point here is that if you want to earn the income of a CEO, then it starts with having a CEO mind set. The CEO does not deal with the minutia of the business. The CEO manages the business and guides it to profitability and makes sure the corporate goals are met (like profitability, social responsibility, etc).
You can get a free introductory course to more of these concepts by going to this site, which is the gateway to a strong foundation to network marketing on the internet.





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