The Overflow Podcast // 037 // Jake Dempsey talks abundance, the good side of money, and tips to help you grow your business

13501962_10208692134493881_1078293994910299036_n_clipped_rev_1Jake Dempsey has a gift for taking complex ideas and making them simple. He’s got an app, a book, and speaks a lot about Young Living’s compensation plan. He codes it, he dreams about it… he lives it. Literally.

So, I asked him… I’m helping my wife with her business. What metrics should I look at- knowing that I can’t look at all 40-plus features that you have on the app?

By the way, I actually like  what Jake had to say about abundance even more than what he had to say about the app. Don’t get me wrong- the app info is incredible, and it’s one of the tools that will help you reach a place of abundance. But, the view he has of blessing and favor… is, well… refreshing… And, I really think part of his destiny is not just to create great tools for people to use to build their businesses, but also to teach- in a healthy way- what money does and the potential it really has!

Here’s the run down Jake gave me- and gives you in the attached podcast episode:

1. PV per member. This number shows the average “ticket sale” in your downline. This metric is nice, because you’ll see that just a few tweaks- like promoting a certain product throughout your entire team, can have a dramatic effect. Think about what might happen if just 10% of your team added a $25 product to their order… simply because of a promo you got behind!?

2. Percent of enrollers. Obviously, your team will grow faster if you have more people actively sharing the products with others. This metric shows you how well duplication is happening throughout your organization. The best teams train others to do exactly what the team leaders do… and they do this by 1) having a simple system that 2) anyone can do.

3.  A few growth metrics. Jake mentioned a few numbers I should evaluate.

  • Percent of overall growth. This shows you if your team is actually growing. If you’ve been around more than a year, you know that after 12 months, people who haven’t ordered actually fall of your downline- they go inactive. So, this metric shows if you’re moving forward or backwards.
  • Average order size. This goes back to point #1 Jake shared with me- to look at the PV per member.
  • Member percent Essential Rewards. The data shows that people on ER order about three times as much as people who aren’t. Jake insists you can grow your overall volume / revenue not only by adding new customers but also by getting those customers to spend a bit more. Obviously, people on ER spend a lot more!

Jake brings up an interesting stat here: 40% of people are “not there” after 1 year. That means that, somewhere, they attended a class (or saw an online post), bought an essential oil kit, got it in the mail… and never did anything with it.

(By the way, Cristy has an excellent video about Essential Rewards here: https://www.overflowwellness.com/blog/how-to-get-free-stuff-from-young-living-every-single-month-part-1-essential-rewards)

Jake refers to the next three items on the list as an “opportunity list” to make a few phone calls and do some relationship building.

4. ER PV that’s greater than 170, but less than 190. Here, you have people who are making a large order, and are extremely close to receiving the free promo. If they move the order to 190 PV, they can get some amazing products (which vary from month to month), just by adding something to their order. Usually, it’s worth spending a few dollars to receive far more back in free stuff.

(Cristy has a great video on the monthly promos, as well: https://www.overflowwellness.com/blog/how-to-get-more-free-stuff-from-young-living-every-month-part-2-monthly-promos)

5. Money missers. Remember, to be eligible for unilevel commissions in Young Living, you must hit minimal PV amounts.  This feature won’t tell you how much money people are missing (for privacy reasons), but it will tell you the following:

  • Either they have <50 PV order, but would earn at least $25 by placing an order, or
  • They don’t have 100 PV order (or greater), but would make at least $50 by placing an order.

6. PV greater than 50, but not on ER.  This feature shows you who is ordering enough to qualify for Essential Rewards (the minimal amount is 50 PV, recall). This is important because you have someone on your team placing an order that could be getting points towards free products simply by making that “regular” order an “Essential Rewards” order.

 


Show notes

10pack_largeJake’s book, Driven for Success- http://imdrivenforsuccess.com

Oily Tools- www.OilyTools.com

Facebook group- go to Facebook.com > Groups > Oily Tools (request to be added to this closed group)

See more of the healing series free by registering at: https://www.overflowfaith.com/p/healing-free-ebook-offer

______________

Find us online

* The Healing Workshop- http://www.WeOverflow.com/TheHealingWorkshop

* YouTube at https://www.youtube.com/overflow

* Facebook at https://www.facebook.com/WeOverflow

* Instagram at https://www.instagram.com/AndrewEJenkins/

* Twitter at https://twitter.com/AndrewEJenkins

* LinkedIN at https://www.linkedin.com/in/AndrewEJenkins

The Overflow Podcast // 29 // Scott Schuler, The myth of overnight success and disgruntled shoe salesmen

13880167_10208696268796637_8862734389397764764_nSo Scott Schuler was $130,000 in debt when he and his wife started working their home-based business (it’s not a secret- he tells you about it in the recording below). That was 10 years ago. Today, their debt free, they make more money in a month than they ever thought they would make in a year.

Yeah, it’s easy to look at them and think, “Man, I wish I was in their place… If I was them, I’d be sitting pretty, living large, all of my problems would be solved…”

And therein lies the problem with a  great story. In order to have a incredible story, you have to go through some stuff- a lot of it. Usually, it means things like:

  • Memes.009A huge time investment.
  • Lots of people accepting you and saying “Yes!”- while even more people say, “No, not for me… And, by the way, you’re crazy!”
  • Not knowing if it will work… Sure, you believe it will… but it might not.

So, in episode 29, Scott takes on the idea of easy, instant, overnight success. Quite simply, it’s a myth. Even the people who succeed in a new venture overnight spend years building their skill sets, networking, and gaining credibility. And, it takes time.

(Oddly enough, people who go into a new business venture and seem to succeed overnight, well… they usually have years behind them of building a skill, networking with a group, and doing a list of other activities consistently that they might not have even known would one day bring them huge success. In hindsight, it all makes sense, though.)

 

Momentum killers

I asked Scott things that keep people from success, then- since it’s not automatic and since it’s not overnight.

His answer: a lack of action, and a desire for comfort. In other words, if you’re going to grow in any area, you’re probably going to be stretched… and you’re going to have to actually do something. Something that pushes your personal limits. And you’ll probably have to do it a few times, even as you get more acclimated to it.

Sound difficult?

Well, Scott said you should never go at it alone. Ever. In fact, he tells new business builders to go find- not one, but- two other people who want to work with them. Face it, sometimes one is down and the others are up. And each person brings a different skill set to the mix.

 

And, finally…

Finally, Scott talks about the underlying reasons for doing what you do. Sometimes, people call it a “why.” What’s the “why”? It’s the drive, the motivation that keeps you going.

And, that way may change. The things that get you out of bed and excited during one season of life may change in another season. And, the things that get you excited for one specific goal… well… they may be irrelevant to others.

In the conversation, Scott talks about his shift… and what kept him going even after they hit success (hint: the motivation to get out of debt no longer mattered… that was gone… they needed a new driving factor.).

Oh, that thing about the shoe salesmen..? You’ll have to listen to the end…

__________________

Links mentioned in the show