Follow Me On
When we start a home based business, we should know how hard we will have to work to achieve our goals. Michael Dlouhy has taught us 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 juice is better than your medical plan!'
2. The word 'active' avoids discussion of attrition rates and the commitment levels of your team.
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.
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 your sponsor or upline or company rep support cannot answer the question, RUN! 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.
My Location: Owen sound, Canada