It wouldn’t be a healthy Friday without Cinco Bala. This weeks top 5 lessons, hacks and quotes I’ve been pondering, applying and battling.
For those of you who are new, this is a concept I took from Tim Ferriss. (This is just focused on MLM and online marketing) If you don’t subscribe to his newsletter. You should do it.
Lesson in Online Marketing: Money In vs. Money Out Is All That Matters – A 50% increase in cost per lead is enough to crush most people’s online businesses…
And that’s exactly what happened to us over the past two weeks.
In fact over the past 10 days we found out that not only was our reporting software WAY OFF in giving us proper data…
We found out that our overall cost per lead was about 200% higher than we thought!
That’s enough to bury most funnels in the red.
THE WORST part is that ON TOP of that is that our ACTUAL CPL was rising at an alarming rate and was 50% higher than it was the previous month.
It was a humongous mess.
How did we not catch it?
How are we still alive?
Cash is king.
More specifically – The funnel I’m referring to has such a massive return on ad spend that we didn’t even notice our cost per lead was actually 200% more than we thought.
In fact, once we crunched the REAL numbers and found out the above,
PLUS that our REAL CPL increased by 50%,
We’re STILL 4X return on ad spend…
So the ending (as of now) is quite happy.
However, I’d be lying if I told you I didn’t think about driving my fist through every wall I saw.
I’d by lying if I told you I wasn’t anxiety ridden for days.
But I would NOT be lying if I told you what I’ve said so many times before…
Money in versus money out is the only metric that REALLY matters.
I don’t care how many likes you get…
How many followers you have…
How many courses you produce…
How many people are on your team…
What your cost per click is…
What your click through rate is…
ALL I CARE ABOUT is…
Are you making more than you’re spending?
Now, we have to fix the problem we found. But the only reason we can fix it is because we have cash to operate.
Vanity metrics don’t matter and you can’t buy groceries with your “likes”.
Focus on producing valuable offers and not only will you be able to sustain yourself but you’ll be able to properly and FULLY serve your customers.
Lesson in Network Marketing: Pick The Right Company – Over the past week I’ve spoken with multiple massive earners in MLM who lost everything because of bad management or compensation plan changes…
It’s really sad to see. A corporation starts with an incredible product with the intention of changing people’s lives.
They need a method of distribution for their new product and they choose network marketing as that method.
So they build to $1,000,000,000 or bigger on the efforts of their reps.
The reps build the business and the management handle operations. It’s a marriage that makes this industry so special.
But like all marriages, it can come crashing down if one of the partners commits adultery.
Case in point – If the company decides to take their customer base (that the reps created) into the retail market…
Or they change the compensation plan…
Or they terminate top leader’s for “talking bad about the CEO” (real story)
What kind of business do you really have if the compensation plan can be changed with “30 days written notice?”
If you can get terminated from YOUR “own” business…
The truth is, so many reps in the industry are glorified affiliates.
Selling someone else’s product with no contract that actually protects them.
The rep trusts the company with their future but the company won’t trust the rep with theirs…
If I was in a romantic relationship and was asked to trust my partner but did not get trust in return,
Would I be smart to stay?
This is fresh on my mind because I’ve had multiple conversations this week with top earners who were making more in a month than the average household brings in all year…
Who had it ALL taken away because of bad management or comp plan changes.
So with that on my mind, I want you to read this “How To Choose A Company Blueprint” like NOW.
Forewarning – there is a pitch for our company at the end. You can disregard it if you want. I’m not trying to poach. I’m trying to save you the immense heartache that YOU WILL feel if you don’t do your homework.
Quote I Love: “Now is an inconvenient time to cry.” – Ashley Spear (In reference to needing to leave each other for a few days and both of us being sad about it. We wanted to cry but needed to crank out some work before a deadline. Quite funny.)
Bonus Lesson in Network Marketing: 6 Rules of Retention Part 1 – In response to the video from last week’s email on creating unity, I decided to make a 6 part video series on retention in MLM.
Retention has been the BIGGEST learning curve for me in the industry. It is MUCH easier to perform than to lead.
Thankfully I’ve had multiple incredible leader’s in my life that I was able to glean wisdom from.
I’m still a long way from Oracle level wisdom but I’m on the way and happy to share what I’ve learned so far…
This is video #1 and every few days I’ll release the next lesson. Subscribe to the channel and turn on notifications (the little bell) to know when the next one comes.
Split Test: Where Do We Live? – We’ve been living in Carlsbad, CA for the past few months (outside of random 3 week Mexico and Iceland trips) and we’ve been working out of a private office about 10 minutes away…
Well in November we rented a 4 bedroom house (for just Ashley and I) in the mountains in Temecula, CA where we plan to work from the house everyday with amazing views.
We saw a HUGE increase in productivity with the office as it gave us a place to mentally separate work from pleasure and provided a concrete stopping point each day.
But as we looked back on our different homes and working arrangements, we always worked where we ate or hung out. There was no real physical separation. So we really don’t know what it’s like to “properly” work from home.
Back when Ashley worked a corporate job we each had separate home offices that seemed to work well but we’ve never done it while we’ve both been full time.
So before we figure out how we want our work/life physical set up, we figured we’d try them out.
Hence, the office…
And the oversized house…
… In the mountains.
Want to join my team? Click here to discover how we recruit more reps in a week than other “top recruiters” will in 2-3 months…
WITHOUT talking to friends or family, WITHOUT postin’ and prayin’ and WITHOUT sending one single Facebook message.
(Oh and we make $650-$1750 profit for EVERY SINGLE new member that we sponsor.)