If you’ve been following along with our New Year New You series, you probably know the only thing we have left to discuss is patience. Believe it or not, this is probably the most difficult task of them all. Things take time and time takes so long!
The strategy we’ve outlined through this series is a long-term strategy. It is a foundation that will, with time and consistency, lead to growth and longevity for your business.
When you start in direct sales, most people work the party plan method. You reach out to your closest friends and family members for your initial bookings. Ideally from there you book parties from the people at those parties. Some you may know, and some you may be meeting for the first time.
These people are part of your warm network. They’re people who you know or are one (maybe two) levels beyond you. You continue working the party plan with the ultimate goal of continuing to book parties further and further outside your circle, so you can expand your customer base.
You may find it interesting to know that according to a study done by Jon M. Taylor, Ph.D. in the first year of operation, a minimum of 50% of representatives drop-out. After five years of operation, a minimum of 90% of representatives have left the company.
Do you know why the failure rate of direct sales is so high? It’s because people exhaust their warm network and can’t find any leads beyond it. When the leads dry up, so does their business.
In a nutshell, the party plan method starts at the inside and works its way out.
Now let’s look at the strategy of the New Year, New You series. To recap, the strategy includes an email list, a blog, a Pinterest strategy and a follow-up strategy. It’s a tall order for any business person, especially if you work your business as a side-hustle.
What makes the New Year, New You strategy effective is that it’s basically the opposite of the party-plan method. This strategy brings people from outside your circle into it. It reaches people you would likely never be able to reach because they are looking for your content, not for you.
When people are interested in some aspect of your product, they go looking for it online. As someone who has a solid online presence (meaning the components of this strategy) there is a real and very likely possibility that they are going to find you.
So now you’ve brought someone who is already interested in the product or service you’re offering to you, instead of the other way around. If they like what they see, they are probably going to follow you in one way or another. For example, they may follow your Pinterest account, and join your email list after reading one of your blogs.
That sounds amazing, doesn’t it?! Bringing potential customers to you on an ongoing basis, rather than desperately searching out people willing to host a party. It is great, but remember that it’s slow.
It’s slow because people don’t usually buy a product the first time they see it. It’s slow because they have to decide if they know, like and trust you enough to give you their business. It’s slow because you have to create the content that people seek out to find you. It’s slow because it takes time to curate enough content to make you the expert.
Despite the fact that it is a slow strategy, it is an effective one. Once you create the content and put it online, it’s there for the long haul. You’ll see that sometimes it takes months or even years before your content starts to really grab hold. That’s why having an effective Pinterest strategy, for example, is so important. It helps to fast-track your content into the hands of people seeking it.
If you’re looking for an easy way to make a buck, the New Year, New You strategy is not for you. On the other hand, if you’re willing to put in the work and the time to build a sustainable business for yourself, this strategy is seriously worth looking into.
Don’t be afraid to work the party plan method in conjunction with this strategy. It’s a great way to ensure you earn an income from your business in the short-term while putting together your long-term strategy.
The time it takes to build this strategy is what makes patience a critical component of the strategy. You are going to have to work hard at the beginning for what might feel like very little in return. Be patient! The returns will come over time.
Have you started working on your New Year, New You strategy? Tell us about it!
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