Tweamster's Blog

In Network Marketing Are You A Fox Or A Hedgehog

June 18, 2012
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I’ve been keeping myself busy promoting my business, I hope you are too. Let me know what’s working for you, I’m interested, leave a comment!

In the meantime, here’s another very relevant article to our topic from our friend, Pat. Enjoy!

Would you consider yourself a fox or a hedgehog?

What’s the difference?

Jim Collins wrote about it in his bestseller Good to Great and it’s based on the famous essay “The Hedgehog and the Fox,” written by Isaiah Berlin. In it, he divided the world into hedgehogs and foxes, based upon an ancient Greek parable: “The fox knows many things, but the hedgehog knows one big thing.”

The fox is crafty and resourceful. When he goes hunting for the hedgehog, he tries to think of many different plans – dig into the burrow, lie in ambush and attack when the hedgehog comes out, etc. But he can’t focus on one strategy…he is scattered and chases many trails at once.

The hedgehog knows one thing and can do it well. When the fox comes to eat him, he rolls up in a tight, spiky ball. All the fox gets is a bloody nose, yet he tries again and again, hatching new unusual methods of attack. He just doesn’t learn.

In business, the fox is the person who starts something only to quit after three weeks in favor of some new, better plan or fad. He is so busy trying to juggle all his ideas and excitement to start something new and promising that he has no time to really understand what he’s doing. He is simply treading water.

The foxes of the business world rarely succeed. The lion’s share of success and wealth belongs to the hedgehogs–the people who focused on one thing and became a true specialist. They do one thing and do it very well. It’s their Hedgehog Concept.

For example, my Hedgehog Concept has always been direct sales–specifically telesales. I’ve made millions of dollars specializing in just that. I’ve been in sales all my life and have built two multi-million dollar sales organizations from scratch. Along the way I’ve always looked for new, creative ways to enhance and expand my Hedgehog Concept, but I never let myself get distracted by other trails. (Sure I have ownership in other businesses and have done many joint ventures, but I never lost sight of my Hedgehog Concept…)

 The Three Circles of the Hedgehog Concept

Hedgehog Concepts are based on three circles…all the same size and all equally important. Think of them as a classic Venn diagram*: each intersect and that combined “middle” is where the magic happens.

 Circle 1

This circle involves what you can be best at. It’s not a goal, strategy or plan, and it’s not just a “core competency.” It’s the place where you can really shine; the thing that you could become one of the best in the world at.

Circle 2

This is the economic part of the equation. All very successful people I know were very smart with setting things up that will provide a powerful cash flow.

Circle 3

Great success requires passion. This circle contains what ignites your passion. The idea here is not to stimulate passion but to find what really makes you passionate. You have to ask yourself if you’d still come to work if you had all the money you need…if the answer is no, it’s probably not your passion. Like Confucius once said, “Choose a job you love, and you will never have to work a day in your life.”

Your Hedgehog Concept lies in the intersection of these three circles. If you can live your life in the middle of them, you’ll have it made. You’ll be doing something that you can truly excel in, you’ll be deeply passionate about your work and you’ll be making great money.

It’s no good having two…you want it all! If you’re passionate about your work but make no money, you’re going to be very frustrated. If you’re good at what you do and make lots of money but hate your job, it’s not worth it. If there’s money to be made and you’re passionate about the field, but you’re no good at it, that’s frustrating too.

Summary

Ultimately you’re going to have to figure out what your Hedgehog Concept is, and you’ll know it once you hit it. Don’t settle for anything less because it’s where real happiness and success lies.

Pat

Accelerated Training Solutions

http://www.accelerateyourtraining.com/

800-809-0487
601 Cleveland Street, Suite 220, Clearwater FL  33755

Hope you enjoyed it! Please leave a comment. Let me know if there’s something you’d like to hear about relating to network marketing.

To your success,

Alan

*Venn diagram – a diagram that uses circles to show the relationship among the parts of the whole

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Rooms For Rent

September 6, 2010
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What?

For those of you who weren’t here last week, I made a comment comparing the network you’re building in your business to real estate. My exact comment was: “Think of it like real estate. Once your network reaches a certain size, that network becomes an asset that continues to generate income whether you work or not.” (For the whole article, you can go to Don’t Trash Network Marketing.)

I realized on further pondering that that is actually a very apt analogy. Plus it capitalizes on a very similar analogy made by Tim Sales in his amazing video Brilliant Compensation.

Why Real Estate?

Real estate investors look for properties that can return a positive cash flow, whether it’s a house, an apartment, commercial or industrial properties.

Do you think that real estate investors think that 100% of their properties are going to be fully rented and paid every month? Whether it’s waiting for the right tenant to arrive, remodeling before the tenant moves in, having to deal with a tenant that’s not paying, or whatever, they know that there is a certain amount of time with any property where that property is not generating any income.

The commonest solution is to have enough properties so that if some of them are not generating any cash flow, the other properties keep the cash flow happening.

And?

So if you’re building a network marketing business, the people you recruit are your “properties.” They are what are going to build your cash flow.

Do you think that all of your “properties” are going to produce sales and recruits every day, every week, every month? They’re not, so what should be your solution? More “property,” i.e. more people in your network.

Let’s paint an example. Let’s say that, on average, everyone that you recruit, recruits 2 people, period. But out of 10 recruits, 1 of the people goes to town and recruits 1 person every month. To keep the math simple, let’s say the people who recruit 2 do so in their first 2 months. Further, let’s say you are one of the guys/girls who are acquiring 1 “property” per month. Here’s how the numbers of “properties”  might go. 1st month – 2 (you and your first); 2nd month – 4 (you and your first plus both of you recruit another); 3rd month – 8; 4th month – 14; 5th month – 22; 6th month – 32; 7th month – 44; 8th month – 58; 9th month – 74; 10th month – 92.

After 10 months, you have 92 people in your network of whom exactly one is doing something every month, yourself. But, you had things happening all the time. Every month there were new sales and new recruits. And you had your first “property” that begins generating cash flow every month. At the end of the second 10 months, you’ll have another 184 people plus your 3rd and 4th person doing something every month (another for yourself, one for your first every monther) . At the end of the third 10 month period, you’ll gain another 4 people who do something every month (one for you, one for the first guy, and one each for # 3 & 4).

After 30 months, 2 ½ years, you have 8 “properties” generating cash flow every month. Let’s just say for the purposes of the analogy that each “property” generates $100 in cash. Okay, so after 2 ½ years of blood, sweat and tears, you have $800 in cash flow. I can hear you thinking, “oh, wow…”

Bear with me, after another 10 months, at the 40 month mark (3 year and 4 months) you have 16 “properties,” $1600 a month, better, but really, for 3 years of work? Okay, 10 months later, 50 months (4 years, 2 months) you now have 32 “properties” bringing in $3200 per month. Another 10 months (5 years now) and you have 64 “properties” bringing in $6400 a month. 5 years and 10 months, you have 128 “properties” and $12,800 per month. Stop me when you get excited.

Okay, not bad, but 5 years?

All right, name me some other occupation where, with no education in the business at the outset, you can earn this much or more in that time frame and have it turn into residual income to boot.

And who’s to say that you couldn’t double your efforts or increase your effectiveness and do it twice as fast? It has happened.

So, How Many “Properties” Do You Want To Buy?

If you’re considering joining the network marketing industry and haven’t made up your mind yet, check out the video by Tim Sales called Brilliant Compensation.

If you don’t have a company yet, or you’re looking for a better one, check out www.AlansMLMTips.com and sign up for the (free) “7 Days, 7 Insider Secrets” email newsletter.

If you already have a company, and need tips and how to’s on marketing, check out John Eberhard’s RealWebMarketing Blog.

Here’s a couple blogs that I like that are specifically on network marketing:

http://www.marcus-baker.com

http://karyrogney.com

Hope you’re enjoying your Labor Day weekend! Have a good week.

Quote

Success seems to be connected with action. Successful people keep moving. They make mistakes, but they don’t quit.  – Conrad Hilton