Herbalife Leadership Development Weekend April 2011
Employing Yourself

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Average Cost of a Traditional Small Business

  • Average cost to open a small business is $88,000
    – 90% FAIL in the 1st year
    – 10% take 3 years to brake even
  • Business monthly expense average $10,000 – $20,000 +
  • Responsible for implementing business procedure, accounting, training, support and much more…

Leadership Development Weekend April 2011
 

Herbalife is The Average Person’s and Smartest Person Best Way to Reach Financial Freedom

  • Herbalife takes the responsibility researching and developing our cutting edge state of the art incredible products
  • Herbalife manages the employees that serve us
  • Herbalife will participate in training your organization
  • Herbalife does the big Promotions we have to do the little ones
  • Herbalife insures that we get paid every month and even 2 times a month!

 

Treat Your Business Like a Multimillion Dollar Business

  • Stretch your thinking and Imagine what it will be like to a successful
  • To have a serious business you have to treat it seriously by doing the following: NUTRITION CLUB

–      Personal Invitations (see what everyone is talking about)

–      Track your business using gauges

–      Work your plan and plan your work

–      Discipline, Skill set and beliefs

 

Doran’s Vision Financial Matrix Model

–      The ability to leverage cash flow is what allowed Doran to get to the Chairmans Club in 7 Year

–      The business model illustrates the importance of changing our thinking from a mom and pop business to a multimillion dollar business.

–      Life time value of a Nutrition Club vs the Cost of Starting one

 

How is your Herbalife business similar to a traditional company in Corporate America?

It’s not just YOU alone in your Herbalife business

–      Traditional companies have employees

–      Those employees have duties and responsibilities

–      How those duties are performed (good or bad) will ultimately affect the company’s bottom line.

Traditional Companies have a “Chain of Command”, your Herbalife business has a “Marketing Plan”

Know what that Chain of Command is and how IT works. (Corporate America)

  • CEO/President
  • Vice President levels
  • Division Managers
  • Regional Managers
  • District Managers
  • Ground level managers
  • Workers

– Income: Salary, Hourly, Yearly increases, possible wage freezes, lay offs and down sizing

–      YOU have no control!

 

Understand the Marketing Plan and how it works FOR YOU! (Herbalife)

Common Reasons For Failure

Change the plans too frequently (90 days)

  • Not consistently doing all 4 steps
  • Not reinforcing enough
  • Not walking the walk
  • Not recruiting first line yourself

 

The Key To Success is Knowing and Applying the Basics

Use the Products: Gain a belief and passion for the results!

  • Buy from your own store
  • Never buy from the competitor
  • Inspire your team to adopt the same

 

Retail the Products: Understand what role retail plays in your business.

  • Retail produces cash flow
  • Use the cash flow to fund operating expenses
  • Use cash flow to fund your advertising for recruiting
  • Re-invest in your business to grow your income

 

Page 15 Title: Recruit Distributors: Understand what role recruiting plays in your business

  • Recruiting produces Customers, Distributors, Supervisors
  • Customers produce retail profit through reorders
  • Distributors produce wholesale profit (volume producers)
  • Supervisor produce royalties 5%
  • Royalties move you up the marketing plan which earns production bonuses 2%, 4%, 6%

A Healthy Business:

  • Designates retail and wholesale profit to fund the expenses of the business
  • Uses Royalties as your salary!
  • Save your Production bonuses
  • Maintains a Balance between retail and
  • YOU are in control of your INCOME and your FUTURE!

 

  • Make a decision to run your business like a business
  • Organize!
  • Operate!
  • Assume the Risk of your Herbalife Business

 

The End