When you’re an entrepreneur in Direct Sales, it’s possible to receive an exciting high commission check one month, and see it take a deep dive over the next 30 days. I call this the money flow in your business and it’s one of the most important areas I emphasize in my coaching programs.
We are fortunate in direct sales to have multiple streams of income, and the more we’re aware of how to maximize those income streams, the more easily the money will flow every month.
When I first began my direct sales business, I had three children in private colleges and my contribution to the family budget was $2400 to pay my bills and keep everyone fed in college for the month. With every penny my husband and I made, we were barely making it to feed, clothe and pay three tuitions during that time, so I had to be extremely sure that I was going earn that $2400. I had recruited my first person, but I knew that income stream would take a while, and I had an immediate and urgent income goal that had to be met every month.
My compensation plan had a generous 40% sales commission. This meant to hit the $2400 income, I had to have personal sales of $6,000 for the month. Being new to this industry, I thought if I held 6 parties a month, I’d hit that figure easily. Well, of course, we all know about parties that
- Get postponed
- Not enough people attend
- Have low sales
- And yes, even, cancel!
That’s when I realized I had to get creative to hit my $6,000 sales goal every month. I developed a “money tool” and I still use it today in my own coaching business. It’s a very simple tool and I had so much success using this tool hitting my sales goal in the beginning of my direct sales career, I expanded on it over time as my income grew to the high 6-figure level.
This tool was simply tracking my income. As women and Moms, we know how to track things. We know how much we weigh, how many calories are in a cookie and how much it costs to feed a family of 4 every week.
I tracked different ways I could make sales to hit that $6,000 goal. It became a weekly ritual on the first day of every week to see how many ways I could get in front of women to sell an outfit. An outfit was $150. I knew I had to sell 40 outfits every month to hit my goal.
Here’s the key thing I found. What you track expands, just like the saying, “What you focus on expands.” So, I simply began tracking ways I could make sales every week to hit that important sales goal.
And today, that’s what I teach my private coaching clients. It’s one of the cornerstones of my coaching business. It’s one of the KEY areas we’ll work on in my upcoming “L.E.A.P. Group Coaching” program that’s being announced this week and launched on September 18th.
This week in a coaching conversation with a private client, she shared with me how excited she was to hit her minimums for the month using my money tool.
How much money do you need every month to contribute to your family budget? Now, begin to track the ways you can personally sell your products and hit that target. Once you pro-actively make the decision to track your sales every month, you’ll find more consistent cash flowing easily into your business.
I look forward to sharing this tool in detail in my upcoming “L.E.A.P. Group Coaching program.” If you’ve always wanted to work with a coach but needed an affordable budget, watch for my announcement this week. Be sure to sign up for the “Mymentorbiz Bulletin” here on this website to learn all the details.
Share a comment below if you have a tool that helps you keep the money flowing in your direct sales business.
I start my coaching sessions with Gale this week and am excited to learn about and use this tool!
Aloha Gale,
Very nicely done!
Here is a question so I understanding what you are sharing completely. I think of tracking as following what I have done before or what has been done before. Do you mean setting your monthly goal and then strategizing and planning ahead about who and where to pursue clients to reach the goal?
Thanks Gale as so simple and yet so effective. I do it now but now with this system will execute and teach/coach more effectively!
Carolyn Drummond
Director
Jockey Person to Person