Today’s Tasks: Use the commission calculator to determine how much money you would be making as a Silver Executive and what you would need to do become Silver in six months.
What she said really resonated with me. My story is a little different. I did not become a consultant and then have amazing success. I became a consultant and was really excited and then two people came to my party, my single brother and my next door neighbor. That was it. Neither was really interested, neither scheduled a party. It was heartbreaking. After the astounding failure of that party my kind sister in law hosted a party for me. One person came. Yup I was off to stardom. I worked for several months before I had a break through and had a couple of successful parties. As soon as I had that breakthrough my business took off. I hit mentor, director, executive, and silver executive; within 6 months.
And that’s what I want for you. I want your business to be wildly successful. I want you to have so many people wanting to be consultants and wanting to host parties that you have a hard time keeping track of everyone.
Looking back I could have had my break through much earlier. But I made two major mistakes. Today we are going to talk about the first mistake and we’ll talk about the second mistake a little later.
I didn’t understand the commission plan and what it meant for my business.
I’ll let you in on a little secret: I’m bad at math (oh, and spelling too). My enroller explained the commission plan to me 3 times before I even sort of understood how it worked.
Not taking the time to understand the commission plan right at the start was a huge mistake. The biggest mistake I made.
Once I understood how consultants got paid I was able to understand how to best spend my time in building my business.
Today we are going to focus on the commission plan. You are going to download the commission calculator, and figure out what you need to do to become a Silver Executive. Since you are figuring this on the commission calculator, you will get to see what you will make as a Silver Executive (if you are already silver figure it out for Platinum).
Today’s Notes
- To download the commission calculator click here. You can also find this on the website by going to consultant materials → training → Commission Calculator.
- The commission calculator is an Excel document. If you don’t have Excel on your computer you may have trouble opening it.
- I have imported it as a Google document. Before you can edit this document you will need to log in with a google account and make a copy. To do that go to File → Make a copy (remember to use the Google documents menu NOT your web browser menu)
- When using the calculator you fill in the yellow highlighted squares ONLY. It is set to calculate the values automatically.
- The first yellow column on the left is labeled YOU. This is because everything in this column is what you are doing. Your down line numbers go in the right hand column.
- On the average # sales/ party I find it easiest to put in 1 sale and then in the Average $/Sale I like to put in my party total.
Rank Advancement Chart: You will need this to figure out what you need to hit each rank.
Your Personal THRIVE Q Payment | Monthly Personal Sales | Monthly Team Sales (You + 3 levels) | Rank | Your Team Earnings | ||
level 1 | level 2 | level 3 | ||||
$50 | $0 | Consultant | ||||
$50 | $1,500 | $3,000 | Mentor | 1% | ||
$50 | $2,500 | $10,000 | Director | 2% | ||
$100 | $3,500 | $25,000 | Executive | 2% | 1% | |
$100 | $4,500 | $50,000 | Silver Executive | 2% | 2% | |
$150 | $5,000 | $100,000 | Gold Executive | 2% | 2% | 1% |
$150 | $5,500 | $200,000 | Platinum Executive | 2% | 2% | 2% |
Today’s Worksheet
This video will walk you through how to use the commission calculator. Be sure to watch it full screen so you can see the numbers.
Here are the numbers I used in the video
YOU | Downline | ||||||||
#Consultants on 1st level | # of Parties/ week | Average $/sale | # of $100 Qs? | #consultants on level 1? | #consultants on 2nd | # of Parties per week | Average $/sale | # of $100 Qs? | |
Demo | 6 | 1 | 900 | 48 | 3 | 1 | .5 | 450 | 12 |
· Download the commission calculator.
· Enter each of the scenarios below into the calculator. Record the totals.
· Decided how you are going to spend your time and write it down.
· Remember your goal is to figure out how you can hit Silver Executive in 6 months.
YOU | Downline | Total | |||||||||||
If I focus on: | # of Consultants on 1st level | # of Parties/ week | Average $/sale | # of $100 Qs? | # of consultants on level 1? | #of consultants on 2nd | # of Parties per week | Average $/sale | # of $100 Qs? | Commission per month | |||
The Q | 6 | 0 | 0 | 48 | 2 | 0 | 1 | 30 | 24 | ||||
Party Sales | 6 | 1.5 | 800 | 0 | 2 | 0 | 1 | 650 | 0 | ||||
Number of Parties | 6 | 4 | 300 | 0 | 2 | 0 | 2 | 325 | 0 | ||||
Recruiting | 12 | 1 | 1000 | 12 | 6 | 3 | 1 | 500 | 6 | ||||
How am I going to spend my time? | |||||||||||||
When you have finished come back and post a comment telling up what you learned.
3 comments:
Thank you so much for doing this! I have been a consultant for 1 1/2 years now. I have had good months and bad months. Just like everyone. My problem is that my husband is a truck driver and gone all the time. He is trying to transfer into the shop so he will be home every day. My oldest can watch my kids while I do parties but she is so burned out I hate having her watch them. I do no more than 2 parties a week when I have them. For me to hire a baby it really adds up. What tips do you have? Like I said, once my husband is home every night he will watch the kids. but that will be another 2 months.
Jamie, it sounds like for the next 2 months you need to have fewer parties. So make sure you prep your host so that the parties are awesome. If not currently coaching your hosts here are some strategies: 1. Within a week of scheduling a party arrange to meet with her (or talk on the phone) at the meeting talk to her about what she wants out of the party, have her bring her guest list with her, have her start a wish list, talk to her about letting people know through facebook and e-mail. 2. Follow up with her the week before, two days before, the day before, and the day of. 3. Make sure she understands how to take orders before the party. Give her a sample letter to e-mail to friends and family that might not be able to come. 4. After the party follow up with her and with the guests.
Be sure to spend your time at parties wisely. The Q is your most important sale. Take some time to practice your Q presentation (we will talk more about all of these ideas in later tasks). Once you have it down try videotaping yourself and then watch it.
Are you sending out e-mails about the sales to you current customers? Letting them know about the sales or events can really boost your sales--don't just forward them the flyer send them a short e-mail with a clickable links, prices, and why you like the product.
Use this time until your husband is home more often to really sharpen your skills. Become the expert on our products, on how the home party system works, on being a consultant and on training your team. That way once he is home you will be ready to explode.
You will be amazing.
Wow! Just Wow! Thank you thank you thank you. I signed up as a consultant, 7 months ago, had to have major surgery and now, I'm getting back on my feet and ready to rock this!
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