In this week’s show, Eric Worre talks more than minimum wage activity!
I have been mentored by a few different billionaires throughout my Network Marketing career. I sought out my first mentor and asked him how do I make more success for myself? I want to make a million dollars a year! My mentor said, “To make a million dollars a year you have to earn approximately $500 an hour in order to meet your goal. Is there a task you can do in your business that will earn you $500 an hour over time.” I said oh yes, in Network Marketing, there actually is.
If I am in front of a prospect and telling them my story, explaining the compensation plan, the product and sharing with prospects what I have to offer, then yes, that over time equals $500 an hour.
I admit that at the beginning I did not meet with that many prospects in order to make that much money! My life was busy with everything else. My mentor told me to write down all of the activities on my list that can be done by someone else, worth less than $500 an hour, and anything that does not jeopardize my family values. I said, “Wait, what? I can’t mow my lawn.” He told me yes, of course you can mow your lawn, but mowing your lawn is minimum wage activity. If you want to sell your hour for minimum wage and there’s a task you can do somewhere else that’s paying $500 an hour, then why would you do that?
Let’s say that minimum wage was $15.00 an hour. Every time you mow your lawn, you’re losing $485 an hour! I thought I was saving money by mowing my lawn, no, it was costing me money to mow my lawn. Take inventory on every single task in your life. For decades now, I have not done tasks for under $500 an hour unless it was something that I chose to do that help the quality of my relationships. We’re talking work here. I focus my energy on the highest producing activity possible.
Apply this to Network Marketing, make sure you are replacing that hour on something that is worth more than what you are paying for those small tasks. Now, this is going to be hard for some people! You’ve been raised to do things for yourself, but just understand that you are selling your life and potential on minimum wage activities. Do you want to take your time to help somebody else? Or mow your lawn? Do you want to help create a financial wall around your family that nobody can get to? Or mow your lawn? Do you want to be able to have an impact on somebody else’s health, wealth and entrepreneurial dream? Or mow your lawn? The thief of opportunity is the average persons’ to-do list.
Pretty soon another day has gone by, another week, another year! Use this principle as you grow your business and grow as an entrepreneur. Don’t sell yourself at minimum wage because you’re worth more!