How To Grow Your Income - Part 1

All right. The question that we were talking about, Tony and Shelley, is to grow your income permanently. Do you focus on what's the best way? You know, in other words, what's the best way to grow your income? What should your focus be? Should you focus on sales and making money, or should you focus on building your team? See, the trouble with people when they go for sales, like we were talking about before, if you have a situation and you've got somebody working hard and let's just say they're at. Well, let's just say they're making $100,000 a year. You know, they've been able to build their business with their personal activity. They've been able to get up here, and they've been able to go up there and they can make $100,000 a year with their personal activity and a little bit of recruiting and training. But now they want to grow. You know, they've maxed out. You know, they're kind of like we talk about at the school, you max out at everything. And also you find as soon as you make $100,000, you immediately develop the ability to spend 125,000. So all of a sudden, 100,000 is not as much as you thought it was back when you were making 30,000. So you're always wanting to make more. Plus, a lot of times people, when they get entrepreneurs, they don't realize you make $100,000. Yeah, but Uncle Sam is going to take a big bite of that. And we keep electing. Democrats are going to take more and more. Sorry, Democrats. Sorry. You know, so anyway, you know, Warren Buffett wants us to, you know, pay more taxes, and God bless him. So the thing is that, you know, this guy, this is where he max out. That's his natural. That's his default. That's where he's going to go back to. Now, rather than have him go, I'm going to try and get it up to 150,000. Okay. So I'm going to go by this month, you know, this day that I arbitrarily pick out. Let's just say maybe this is January 1st. You know, January 1st, I wanted. By January 1st, I want to have a rolling 12 income of 150,000. So I'm going to gut it out. Well, that's great. Or 200,000. I'm going to grow it. Yeah, but the thing is this. He's going to have a growth surge based off him, you know, unusual effort. After he gets it, he's going to go back down, you Know, he said, I did it, I did it. Because he doesn't intend to keep working at this level because he can. He's already proved that's where he can go. You know, it's only 24 hours. You know, you got 24 hours in the day. And I would refer everybody to these other tapes I've got about the building blocks of growth and the three waves where I get into more detail about this stuff. They're already on YouTube. But you only have 24 hours in the day. So you spend your time of that block of time, 24 hours, you spend 85% of your time finding people to talk to and going to see them. Most salespeople only spend about 15% of their time actually selling in front of a prospect. So pretty soon you max out and the only way you're going to grow that is by recruiting more people, going in and having more people that you've recruited that you can train and they can go out and help you find prospects. And so now you can spend a bigger percentage of your time. And if you recruit more people, you'll find that you can get to where you never prospect. You're spending 100% of your time in front of clients, you're selling, but you're also training at the same time. So as a result, that 24 hour block of time that you have, that's 24 hours, is instead of doing 15% of that on to make money, you're spending 100% so you make more money. So you can find out. This is a way you can consistently grow your income up and it stays there. So the whole idea is grow your income where it stays there. So the only way I know to do it, Tony, is to go in and, you know, growth comes the way I always would train, is to understand it. You start by recruiting. This adds, you know, this is like putting gas in your tank. You grow your recruiting first you got people to work with. So that's the first step. Then the second step is you want to come behind that and you want to train these people. You know, the next wave. So that's your first wave. The next wave is training. Now training is they get their own personal product because you got to take care of themselves first. That's how they get started. That's how they really start learning the business. They ask the questions. If it's not good enough for me, it's not going to be good for anybody else. And if it's going to be good enough for me, I'm going to ask all these tough questions and get sure it's good enough for me. As a result, they get convinced. And so they learn how to present other people as they get themselves convinced. But in the process, you're starting to make money. Then as you go out, they have people to go see their prospects, like down here, and so they can find people to go see so you can go with them. And now you're spending a higher percentage of your time training people because they're helping to find people for you. I'm not going to get any more detail on that because I've already covered it on that other tape. So the. And I don't want this one to go on forever. So as you train, here's the wonderful thing that happens from training. The best and brightest will turn into managers. They can move into management and so they can get promoted. Now, when they get promoted, here's what happens. This is you. This is. This is where you are. This is the foundation you provide to the business. And when you start, it's just you. So if you don't work, your business can go all the way down to zero. But what happens is, as you get in this thing, you start adding managers, and that raises your floor of your business. Every time you promote a manager, you add some stability. In other words, you might not make any sales, but you got somebody else who'll be making sales. And so every time you make a manager, it raises the floor. For example, if you guys, several years ago, maybe you had five managers in your team. Well, if you slump there, you would go to a certain point. But right now that you have 50 managers, your floor, let's just say five managers, and you had a slump, you might go all the way down here, but if you got 50 managers, the worst you're going to do is here. So as you know, you're going to be up here and you're going to be producing up in this range, you know, so the higher what it does is the more you recruit, the more recruits, that raises a ceiling on the most possible income that you can make. And then the more your managers grow, you know, you keep promoting managers in here. What that does is put the bottom. So your range of production, you know, your sales, like, you know, in a given month, it may be good, maybe bad, but it's going to fall into this range. And then when you get more managers and more recruits, it's going to go, you know, the floor, the worse you do be down here, and then the sky's the limit. That's why you can move up to the hundreds of thousands of production, say before, you might be in the 10s and the 20s, but if you have 10 times more managers, you can be at the hundreds of thousands or the two hundred thousands regularly. And you can have a terrible slump month and still do 100,000 because you've got all these managers that you've promoted in here and so does that. So this is why I would tell people you focus on not growing your sales because it'll go up and come down, but you focus on building, recruiting, training, building managers, where you can get much more income and it can be permanent income. So is that helpful? Yep, very helpful. What do you think when you see that, Tony? What jumps into your mind?

No, we actually talked about this on Monday. I talked about how to do 10 by 10 every three days. And it's just by training three different people a week or 10 by 10 a week, by training three different people a week, spending one day with each person and then taking the days in between to set up the other day for the other person, Right?

Yeah. So like, let's just say if you were over here and you had. If it's just you and you have a week to work, well, you know, you're going to spend probably 85% of the time, you know, setting up and then 15, you know, that's most people, y' all might have better averages. But now if you have you plus let's say three people, well, now you've got you plus you've got 1, 2, 3. So they can do. See this thing where you're making appointments? See, this is 85% making, 15% keeping appointments. So when it's just you, you're going to be this 85 just like that. But when you add these in, what happens is they can spend all their time finding, you know, working through them to make appointments. It's like giving you more hours in the day. And so now you can go, you can spend more and more and more and more and more time seeing people. And of course, you know, that's your money making time. Over here your money making time is very small because you just can't get in front of that many people. But here your money making time can be huge. So that's why, you know, that's why I would say rather than him trying to get his income up, doing this thing where he's only got a small piece of his time, like you said, he got three to train. Well, now, you know, I got more. It's kind of like a baseball player. Rather than have three at bats a game, I can go up there. If I got 30 at bats, I'm gonna get a lot more hits than if I've only got three. I don't care if I'm Babe Ruth. Right. It's just got to work out. So is that what you're saying, Tony?

Right, Absolutely.

So when you look at it that way, it becomes very simple that the smartest choice for biggest growth and long term growth is keep your eye on recruiting, training, and building managers. All right? Okay.

You know, that's so true because we do a conference call and what we hear a lot of is, oh, I'm going in the office today to make calls. Oh, I'm going prospecting today. And it seems like you hear that every day from them.

Yeah, it goes round and round and round and it never ends. They never get ahead. You know what I'm saying? Like a dog chasing. We used to call that rocking chair activity. It gives you something. I'm going to Write that down, Mr. Wydell. That's a good one. It gives you something to do, but it doesn't take you anywhere, you know? And then when you have a contest, then you have a contest. I'm racing towards 100,000 now. You're rocking fast. You're just rocking faster because of the contest. You're rocking fast, but you're kidding yourself. I'm really making progress. Look at, you know, I'm sweating now, you know, but you're going nowhere. All right, guys, talk to you later. Thanks.