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Featured
Article...
Entry & Exit
Strategies Do
you have a good “Entry strategy” and “Exit strategy”?
The first
time I heard this statement I was taking a stock (as in stocks
and bonds) course.
I was asked
how I choose my stocks? Was
it someone’s hot tip? (yes,
I’ve done that)…. Or,
I read the papers and liked something I read (yes, I’ve done
that)….or a stockbroker suggested something (and yes I’ve
done that).
Maybe not a
strong entry strategy (not hardly!) but we’ll let that go
for a minute and buy in that it is a strategy.
I did way better on the next question, and was pretty
proud of myself.
“What was my exit strategy to sell the stock?”
The answer
is obvious isn’t it…when the price is high!
Of course
that doesn’t always pan out quite the way we think it might
(unfortunately). Take
for example my 100 shares of “Red Hat” that I purchased for
about $20 per share. It
ran itself up and split at $100 per share and then ran up
again to $80.00. I
was ecstatic. How
far would it go….. I
didn’t realize that the techno bubble was about to burst.
It didn’t
“go” any further…unless you count how far it could go
down …down…down… and
me with no exit strategy other than “when the price is
high.” I just
watched it from the side lines frozen in disbelief with no
plan in place.
Hard lesson
yes….but it did get me to the stock course and now when I
purchase a stock I have a solid entry strategy and a solid
exit strategy regardless of which way the stock ends up going.
Once I saw
how well entry and exit strategies worked in my stock
portfolio I began to think about what kind of exit and entry
strategies I used in my business.
It didn’t take long to realize that often (too often)
I was flying by the seat of my pants – rather like
“selling high” – and didn’t always have a clear exit
and entry strategy. Let’s
look at the holiday season that’s upon us for an example.
How have
you planned the month? Are
you burying your head expecting or hoping (pushing?) everyone
will work? Or have
you already given up thinking that no one will do much because
it’s December? Are
you dreading the January doldrums and how difficult it is to
get people back to work?
Or do you
have a good plan for yourself that you can share with your
downline? What’s
a good plan? A
good solid, steady work program right up until whatever date
you want to stop….Period.
How do you do that?
This
is your December *Entry* Strategy
-
Decide
what you want to accomplish in the month of December that
is reasonable for
the amount of time you want to work.
-
Lay
out exactly what
kind of activity you think you need to do to in order to
accomplish your December goal.
This
is your December *Exit* Strategy
- When your last
day of work for December rolls around
s-t-o-p working.
If you’ve done the activity as you planned you
should be guilt free.
If you go back to work between
Christmas and New Year make sure you follow the same three
steps.
This
is your January *Entry* Strategy
-
Take
a look at January right now.
Decide when you want to plan your first, second and
third money making activity for the month.
-
When
you’re speaking with someone who puts you off till the
New Year (because they’re so crazy from the holidays
;-) (aren’t
you glad you’re not ‘cause you’re scheduled!) book
them to your January schedule.
What this does is keep you working right up until the appropriate time through December…and it gets you back in motion – on schedule – in January.
How do you get your team on board? Ask them if they have a good exit and entry strategy to keep sane through the holidays as well as keep their business momentum. When they say “no” give them this link
www.SavvySponsoring.com…
and we’ll send them this ezine. Use us for your third party validation.
Help everyone have
-
a good solid rest over the holidays
-
a successful financial end to the business year
-
a great start out-the-gate in January.
Speaking about great starts and out the gate…
Most of you know that I built a six figure Excel business along with another six figure multi level lead business. But before an overall entry and exit strategy for my business that ultimately spanned a year, three years and then five years I was unable to keep the money or sustain my business over time.
And it was not about sponsoring. Sponsoring skills alone will not keep you afloat. I know. Talking to people was something I learned to do. I could sponsor…I did sponsor…but they didn’t
stay.
Why?
In order to build a successful network marketing business you need planning and preparation to build an organizational structure and systems from which to operate your business. Without foundations in place, sponsoring skills are not going to keep your business afloat.
My day-to-day activities did not correlate to my year. Sometimes I was prepared for the day ahead but I wasn’t consistent. That meant I wasn't well prepared for the year ahead. I just didn’t have good entry/exit strategies.
Do you relate?
Check out my Year
In Gear starting in January. If you want to head into 2007 feeling confident about where you’re going and how you’re going to get there… I believe Year in Gear is a great way to start!
The
first 25 people save $100 on their registration fee,
there are a few spots left at this special price... so
act now!
I only do
this once a year… if you’re ready to stop getting in your
way and are ready to “catch your truck” see you on the Year
In Gear.
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