Something We All Should Ask Of Any MLM Company - The 10k Question
Read More: When we take a job or a salaried position, we know what our hourly wage or our annual salary will be before we start. If we buy a business, we will have projections and reasonable estimates of income.
Why is it that when we start a home based business, we don't even think about asking those questions? It would be like starting a job and finding out months later what we are being paid!
When we start a home based business, we should know how hard we will have to work to achieve our goals. Here is an excellent question to ask, The 10k Question:
"How many active distributors do I need in my business to generate a walk away residual income of $10000 per month?"
We like the question for several reasons.
1. It leaves out products. We don't get into discussions like "My long distance is better than your legal plan! My lotion is better than your potion!"
2. The word 'active' avoids discussion of attrition rates and the commitment levels of your team. Now it's just math.
3. The phrase 'walk away' makes us investigate our policies and procedures to make sure we can actually retire and pass our business on to our children's children. It also ensures that if we do take a break or vacation, our business will still be there when we come back, and our team will continue to be well taken care of.
4. The word 'residual' makes us calculate how much money we will make from retail or wholesale sales, not just from recruiting.
5. The figure of $10000 makes us think big. It's also fair to the company, as most or all of the commissions and bonuses will have kicked in by then.
If we started a job or bought a traditional business, we would know our salary or the income projections from the previous owner. When we start a home business, however, we rarely ask that question, and we should!
We worked for five years in a business and discovered too late that it was going to be almost impossible to reach our goals. We wished we had asked the 10K question before we started.
If you do not know the answer to that question in your present business, find out before you waste five years as we did.
If you are considering starting a business, ask the question. If your sponsor or upline or company rep support cannot answer you, run far and run fast!
If you'd like some help to calculate the 10K answer for your company, we will be glad to work with you. We can also help you analyze your company's policies and procedures to see if your business is protected for you and your family.
Start by downloading this free report.
We look forward to helping you any way we can.
Dedicated to your success,
Bob and Anna Bassett
519-371-1028
Skype bobbassett
bobandanna@togethertothetop.com
Views: 559
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Comments: 19 
About the Author: Bob and Anna Bassett
Member Since: 03/31/2009
I'm a Distributor For:: Vitamark International
Other Company: Together To The Top
Industry: MLM
Primary Web Site: http://www.TogetherToTheTop.com
Thanks Bob and Anna for
Thanks Bob and Anna for sharing this. This information is has power in it. Networkers need to know this info. At one time I wanted to know how many people I needed in my downline to create a residual income of $1000 a month. I asked my upline and she said " I don't know but it's a lot." I was stunned. Why didn't anyone tell me?? She didn't know herself. It is unfortunate that so many networkers don't know this answer. If you are reading this and don't know please find out, your future depends on it!
Right on Bob and Anna!
The deciding moment came when my upline pin earner backed up my math, and said he had 2500 active members under him when he reached the magic number. That was the day I walked. It wasn't easy, I'd invested 9 years of my life in that one.
Right on Bob and Anna!
The deciding moment came when my upline pin earner backed up my math, and said he had 2500 active members under him when he reached the magic number. That was the day I walked. It wasn't easy, I'd invested 9 years of my life in that one.
Right on Bob and Anna!
The deciding moment came when my upline pin earner backed up my math, and said he had 2500 active members under him when he reached the magic number. That was the day I walked. It wasn't easy, I'd invested 9 years of my life in that one.
Sorry for the triple...
Itchy finger!
Thanks Bob and Anna
the10k question is definetely a must
That is a good question but not the only one
There's an even better question to ask. How many people in the company are making $10K a month? I'm like Paul, when I realized there was nobody (even after 5 years) making that kind of money (hard working people too) in the last company I was with, it was time to do what Paul did and walk.
Now I can sit back and applaud when 8, 9 NEW people advance EACH month to the pin level that earns them $5K a month. Now that's a bandwagon getting involved with. Solid evidence that there are MLMs out there where people can make money immediately and the growth is limited only by your own actions.
Impressive.
To your success,
Joyce Penner
GREAT VALUE
Anna and Bob, wow your first article in awhile and its a WINNER. This is an excellent article, distributors need to know their P&P's. And you two are the "TOP GUNS" when it comes to knowing P&P's. Networkers, do yourself a favor and read your policy and procedures and if you ever need help get in touch with Bob and Anna Bassett, They are the best of the best without a doubt. Contact them, they will save you time and will help you. I can't emphasize enough, how important P&P's are. Anna and Bob great Article. Thank you for tremendous value.
Trump Network is 2700, I know a company 300
I get so many people in MLM that don't know the answer to this question. That is the benchmark for me in any company. It should be for everyone, Great Post
HOW MANY FOR 10K a MONTH???...IDK
I get so many people in MLM that don't know the answer to this question. That is the benchmark for me in any company. It should be for everyone, Great Post
Mine was around 4000.....
I walked.
Why do 4000 if you can do 400?
Great post Bob and Anna. This should be clear to everybody now.
Ciao for now, Rutger.
Perfect Benchmark
It's helpful to ask the same questions of all companies/opportunities so that we're comparing apples with apples... thanks for the detailed explanation of why this particular question is the perfect benchmark. :-D
What An Awesome Article!!
Great Education: There should be no question in the distributors mind when they sign up with a Co.THEY SHOULD KNOW how they will get Paid!
Thanks Bob & Anna for sharing this rich content and always Providing Value!!
10k Question
Hi Stefanie
No one told you because no one knew.
We have called dozens of rep support services with distributors who want to know. We have still not received a straight answer. In fact, one agent told us that "You can't figure that out."
You can be sure that the companies know exactly what they need to profit. You are right in asking what you need to do in order to profit and succeed.
Thanks for your comment!
Bob and Anna
http://www.togethertothetop.com
Five Years For Us
Thanks for your comment, Paul!
We spent five long, frustrating, stupid, expensive years with our first company, Excel. In 2004, we had just 60 people in our downline, most of whom we had sponsored ourselves. No one was working because no one was getting paid.
We were earning just $115 per month and it was costing us thousands to do it. Instead of paying down our mortgage, Excel helped us to double it and max out our credit cards once again.
The people who didn't join us, and the reps who left were smarter than we were, and we now say, "No Pay, No Stay!"
And you were far ahead of us, as you asked the question. For us, it wasn't until several years later when we heard the 10k question and went back to calculate the answer for Excel. We were shocked to come up with 10000 to 15000 people needed to generate $10k per month!
As Art Jonak says, "Is that a small number or a big number?"
As the answers we've collected range from 400 to 28000, that is a BIG number.
It was a relief to learn, though, as we could stop blaming ourselves for failing. Our real failure was not seeing how Excel had failed us, and how it would have been impossible to achieve our goals and dreams in that company.
Bob and Anna
http://www.togethertothetop.com
Us Too! And Then ...
Hi Joyce
That's exactly what we did too - sit back and applaud.
We found ourselves at the conventions applauding enthusiastically for the millionaires in the Armani suits and Rolex watches on stage, collecting their big cardboard checks, while we wondered how we were going to put gas in the van to get back home.
When we got tired of applauding instead of earning, we realized that it was indeed a bandwagon. We did all the pulling while the few at the top did all the playing. That music turned sour pretty fast.
Thanks for pointing out how companies like Excel will lure you with a promise and hope you are content watching a few others reach their goals at your expense. If the pay plan favors the few instead of the many, your growth is not limited by your own actions - it is limited by the small percentages paid by the company. The business model is designed for your failure.
Excel may seem like old news and not worth discussing six years after its demise, but there are still many companies operating today with the same business model, and still living out of the pockets of their reps.
That's why the key phrase 'residual' is included in the 10k question.
Thanks again for a great comment, Joyce!
We appreciate your insights.
Bob and Anna
http://www.togethertothetop.com
Legacy Income?
You are right, Therese.
If your policies and procedures allow the company to take it all away from you at any time, it doesn't matter how good your product or pay plan is. You are building on sand, and your kids may never see that legacy income you think you are building.
Thanks for the comment!
Bob and Anna
http://www.togethertothetop.com
Just enough truth to make it seem real
Bob, you're a smart guy and you know any company can take away your pay. They own the company, you are making commissions on the product you and your team move - that means you are a sales rep and you and I both know there is NO security as a sales rep in any industry today. So why perpetuate the myth that the company will pay your chldren's children? You can only hope and pray that the company stays viable, that it doesn't get sold, and that is not a very secure financial position to be in, is it?
Your assumption that it was Excel's fault and not your own is a whole discussion on its own. Read some of the very successful writers and you will learn you need to accept responsibility for every situation you are in - if you want to be a true leader that is. That's like you operating on someone to take out their appendix and then saying "it wasn't my fault that nobody told me I would kill the guy."
My applause is for those people, 8 or 9 consistently every month, advancing up the pay plan. Did you get that?? Normal everyday people just like you and me advancing up the pay plan. Eight, nine, sometimes 10 each month !!! That's when you need to look around and see how many are advancing in your company ! Three? maybe four IN A WHOLE YEAR. That's when you've got to question, can regular, everyday people increase their income?
You're a smart guy Bob and logic has to assert itself at some point.
Have a profitable day,
Joyce
Educate!
Education is so important and so many have no clue about this matter. I appreciate that you are out there educating and bringing this information to the fore front. It's vitally important to have peace about bringing someone on board with you, knowing they are joining a great company and can make some money.