Monday, August 31, 2009

What Are The 5 Habits That Cost Entrepreneurs The Most Money?

These words might sting a bit. If you're prone to
taking things personally, then this isn't for you.

Right now, I want to share with you the 5 habits that
cost us as Entrepreneurs the most money.

# 1 Habit ) Practicing lousy follow-up:

All too often newbies to MLM ( or any home business for that
matter ) buy 100 or more leads from some INCREDIBLE source
that's destined to make them thousands of dollars in a few
days time.

But guess what happens? After making the calls and sending the
follow-up emails, the AT&Ter / MLMer chooses to NOT follow-up.
That means they've contacted everyone at least once and then
that's it.

BIG Mistake... HUGE even!


Because your prospects need to KNOW YOU... then they need to
LIKE YOU... then they need to TRUST YOU.

How does one establish all 3 in one phone call or one email?


They don't!

So... what IS the answer to this problem?

You follow-up.... then you follow-up again...
and then you follow-up again.

Most Networkers I know and work with follow-up indefinitely...
for years even.

Via email autoresponders, voice blasts, postcards, personal phone calls, etc..

It sounds like a lot of work I know but the real truth is is that it's
easier to take a semi-lukewarm prospect who at least knows you and convert
them into a paying customer or distributor over time v/s contacting new
leads over and over again without ever going back for a 2nd or 3rd time.

# 2 Habit ) Hanging out with Losers.

Remember... I warned you! Some of you might be a little sensitive and
think that calling people "losers" is too harsh. Well... splash some cold
water on your face and walk into reality with me... There are "losers"
in every program... People who complain, whine, moan AND quit within
their first week because ( I love this part )... "It doesn't work"!

In virtually every program, opportunity, group, etc... 5% - 10% of
the people are making 80% or more of the money. If you're hanging
around the 90%ers - 95%ers, you will get crumbs. Begin to associate
with other winners and leaders. People who have initiative, drive,
determination, ambition, tenacity and an incredible attitude. And
it helps if they already have whatever it is that you want. Be it money,
time, fame or just plain old fashioned FREEDOM!

Let the losers mingle with the other losers. You're better than that.

# 3 Habit ) Wasting time.

This is a biggie!

We all procrastinate. Myself included. I am not immune to taking
a 2 hour nap in the middle of the afternoon or watching episodes of
MacGyver on DVD ( just got Season 6 yesterday.. Sweet! ) when I
know darn well I should be on the phone or running an ad somewhere.

But your success or lack thereof can be traced directly back to your
relationship with time. There's no way around this one. You either
make time your slave or you'll be a slave to time.

# 4 Habit ) Not creating systems

The guys and gals in any program ( that includes yours ) have
systems in place for lead generation and prospecting. They have
methods of attracting good, quality leads from multiple sources into
their marketing funnel on a daily basis.

You do not want to be a seat-of-the-pants type of individual. Creating
a simple series of systems will make your life a lot easier and far more

# 5 Habit ) Living with Poor Discipline.

This one can be tied into habit #3. Discipline and having respect to
your time go hand in hand. But it's more than that.. it's about being
organized, self-sufficient, accountable and pro-active. It's about doing
the things you know that need to be done without pause and without regard.

One fellow in my group has a difficult time in staying consistent.
( That's being disciplined in a NEGATIVE way ). He'll work hard
and then hit the pause button... then he'll come back... work hard
and then he hits the pause button again.. Back and forth he goes.
Never building any real momentum because he's always starting and

So there's being disciplined in a good way and there's being
disciplined in a bad way. It's the good way that counts... doing
the little things... the mundane things... each and every day.

Over and over and over again.

That's how are fortunes are accrued.


Now you're aware. Aware of the habits that could be costing you a lot of money.

Being aware of the things that are potentially holding you back is
invaluable. Use your Awareness Radar to detect the activities,
thoughts and people that are not in alignment with your goals and
dreams. Eliminate them. Shift your focus to the activities, thoughts
and people that are in alignment with your goals and dreams. You'll
be amazed at how quickly things can change for you.

Until Next Time,
Lloyd Dobson

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