There are only 3 possible reasons for someone not wanting to become a member of NetWorks! Boise …
- It’s just not the right fit – As examples, your target market is B2C vs. B2B or your market may be too narrow. You only call on a specific vertical or you are limited geographically. I agree.
- You don’t have the time – Well, if you control your own schedule … priorities. Your call. Not mine. If someone else runs your clock, I get it.
- Your company won’t pay your dues and you can’t afford to do that yourself – If you work on commission, it’s nice if the company will pay all or a part of your dues but, if they don’t, that should not stop you. If you are salaried, your company should pay … period.
I am going to make this super simple and I am being very conservative with my examples.
NetWorks! Dues = $31 per week or $124 per month or $372 per quarter or $1,488 per year
Your Average Sale = We’ll use $5,000 as example
Commission Rate (if you are salaried, use your company’s target net profit percentage here) = We’ll use 10% as an example
Opportunity Close Ratio = We’ll use 25% as an overall average which means that you will successfully close 25% of all opportunities that you compete on.
Prospecting Call Types and Close Rates
These percentages represent the number of calls necessary to uncover, and compete in, an actual opportunity. This represents the absolute foundation of the NetWorks! formula. We turn cold calls into warm calls.
- Totally cold – You have no idea whether or not they can use your service or who to talk to – 5% close ratio call to opportunity
- Targeted cold – They should be able to use your service (general need or vertical market) or there was a published trigger event but, you don’t know whether they do or not or who to talk to – 20% close ratio call to opportunity
- Warm – You know that they need my service based on information not widely known and you know who to talk to – 35% close ratio call to opportunity
- Extra Warm – Take a warm call and you can use someone’s name – 50% close ratio call to opportunity
- Referral/introduction – Assuming this is based on a known need and something that the client wants to move on – 65% close ratio call to opportunity
Formula
# Calls x % Call Close Rate (expressed as a decimal) x Average $ Sale x Opportunity Close Rate (expressed as a decimal) x Commission rate (expressed as a decimal) = commissions
Example
20 warm calls, 35% call close rate, $5,000 average sale, 25% opportunity close rate, 10% commission (or target net profit percentage). This example should reveal the absolute minimum NetWorks! yield every month!
20 x .35 x $5,000 x .25 x .1 = $875 commissions (or net profits)
$875 – $124 (NetWorks! monthly dues) = $751 increased monthly profit!
So, you should do this every month and we are not even counting extra warm calls or referrals and introductions and … you get fed lunch 48 times per year and … you get other free services (see our Member Guidebook for details) and … your dues are likely (ask your accountant) tax deductible.
Good grief!! You can’t afford to NOT BE A MEMBER!!
Regardless, NetWorks! is an investment and one which is designed to provide a tasty return. It is not an expense. For those of you who work on commission and who will have to pay your own way, and you won’t … wake up!
Sorry but … I can’t make it any simpler than that. Well, maybe I can. If you can’t make one extra sale each month (based on our example) via your association with NetWorks! … one of us is probably in the wrong place and it’s not me.
However, we are so confident in your success (we don’t let folks in who should not be successful) that we will offer you a full 100% 90-day money-back guarantee. You need to do your part as well and you can read the details here.