Why do some business people fail miserably?
One would never know how much more he could be blessed until he understands the principle behind the Law of Numbers or what most of us know as the numbers game. The lack of interest or adherence to this law can prove to be catastrophic as this is often where business operators or those in the selling business fail miserably in making good their production aspirations. Why is this so? It is just sheer lack of information to the simple rule of numbers. Let me show you how you apply the numbers game to avoid disappointments:
Let’s do the math
Let us say that your “must earn” goal a month is a volume of 3 (or its equivalent in Euro) and that you know your average ratio is to be this:
10 calls to get 3 appointments / presentations and then from those 3 appointments will come your 1 YES!
Let us say that your goal is to get 3 a month.
You will then start by having 60 names to call, then from there, 30 will probably agree to see you and from here you should be able to make your 10 effective presentations and will be able to close 3 out of those 10.
The Principle of Averages
It is called the 10-3-1 Principle of Averages. Now, you might say I’d probably be able to do the appointment setting, the presentations and closing but where do I get a continuous flow of names? Can you believe that
this is the easy part? All we have to do is simply ask all the people we know to help you fill your referral list of names on a continuing basis very simple. Just ask and you will receive, right?
this is the easy part? All we have to do is simply ask all the people we know to help you fill your referral list of names on a continuing basis very simple. Just ask and you will receive, right?Listing it down as a formula would go like this: Start and replenish your monthly referral LIST of 60, expect to INVITE 30 and even if you ended up PRESENTING to just 10 you should be able to CLOSE 3.
Whether we are aware of it or not, all things end up to one simple truth and that is, all of us, whether we are a business operator, a salesperson, a service staff or a housewife are in the business of selling something to someone. Thus, we are engaged in the game of numbers.
That is a fact of life.
Some people will call it influencing or trying to change the way people think of things to see your point of view, or we can simply call it selling. The sooner you understand this principle the better off we are as we can now simply adapt to the rule of numbers.
No more disappointments, no more heartaches…
As you will be spared all of these because you are now under the protection of the law of averages.
You remember Michael Jordan, right? Considered by all to be the greatest basketball player of all time, but did you know what his shooting percentage is?
You’ve guessed it right! That’s 30+ percent!
He converts 1 out of every 3 attempts.
The problem with most us is we stop after just a few attempts or worse, not even making an attempt. We ought to learn from these great characters who made their lives exemplary all because of their faith to execute those numbers in.
The likes of Col. Sanders of Kentucky Fried Chicken who didn’t give up even after more than a thousand rejections to his chicken recipe and to think this even happened during his retirement years. The list goes on and on …
Lots of great people succeeding out of sheer obedience to numbers. They never take these challenges as personal insults, but for them the rejection is just another hump to skip or another step to climb in the ladder of success.
So if we want to be in business (and we ought to be) or want to stay in business, let us understand one very important law: WORK OUR NUMBERS!
Each one of us should know our conversion percentages… Our closing ratio. Michael Jordan knew from the very start that all he has to do is put in 3 shooting attempts to score 2 points in each and every single game and the Law of Numbers will take care of itself! That is why he is the greatest because he has the law in his side.
As we nurture our dreams each day, awake, alive and excited about our God given opportunities staring straight at our faces, let us do our part and put in our numbers of attempt passionately and untiringly. Then we lift everything else up to God for blessings and results and with this great attitude, we know we can’t go wrong because our Heavenly Father who is on our side will be cheering for us with every step of faith we make. Isn’t that a great assurance?