balanced business -...

©2013 Amway corporation. All rights reserved.

For IBO use only. Not to be used with prospects. CR62375

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Episode 7: Optimizing Income

BalancEd BusInEss

Welcome Back! In the last episode you learned all about how to build your team through effective filtering and sponsoring. Combined with the volume creation techniques from earlier episodes, and the tactics to build belief and sustain momentum, you’re well on your way to a strong balanced business!

Make sure to continually go back and study all those previous episodes so the lessons become habits. And so your business continues to grow and prosper.

Episode 7 This episode illuminates how to get the most out of your business through purposeful analysis and intentional building. It includes the use of Upline/Downline coaching and the Business Modeling Tool (‘its all about knowing how the plan works’). It also describes a few of the major ‘inflection points’ in the normal evolution of many IBO businesses as well as best practices to prepare them to maintain maximum profitability.

Leaders: Joe Markiewicz, Toby Ayers

Your Own DreamBenefit From Your Work

• Every IBO has his/her personal dreams

• But we want to make the most _____________________ possible from the _____________________ that we put into it

• Today’s focus is about maximizing your _____________________ from the business that you’ve created

– And how to mentor your business partners to do the same

Technology is Great, But...

• Electronic tools have made our life simpler, for example:

– _____________________ via the website or with the mobile app

– Direct payment of _____________________

• Would never want to go back to manual methods!

This study guide pairs with L12-0445-VOD (CR62373)



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• But we’ve lost some level of understanding of business nuts and bolts

– The manual work had one positive side affect of drilling us on the specifics of how the _____________________ _____________________ worked

– And exactly how our money was being made

Exciting Training aid – The Business Modeling Tool • Joe _____________________ worked with the _____________________

• Designed to help counteract that loss of business acumen

• And give you intimate understanding of how to maximize your income!

Why Do We Need It?Maximizing Income

• Can’t do it without intimate knowledge of the core compensation plan….things like:

– Differential

– Downline bonuses

– Bracket breakpoints

– Benefits of being a higher bonus bracket than your downlines

• Goal is to illustrate how to make the most amount of money at your current level


Amway Resources – Making Your Hard Work Count online course – The Amway Business Modeler

Amway Resources – Secrets of the Sales Plan online course – Maximizing Your Profitability online course



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Coaching a New IBORicky – 1 Month in the Business

• A great illustration of how a mentoring session can go

– Build their current business in the _____________________

– Ask probing _____________________ and listen closely

– Understand the IBO’s goals

– Add your own experience and make suggestions for goals

– Volume

– Retail _____________________

– Structure

– Incentives

– Build the possible future business in the modeler

– Realistic, attainable steps

– Examine the business and financial impact

– Make an _____________________ plan

• Help them see it in the modeler

– _____________________ is believing

– When _____________________ is high, _____________________ follows

• Commit your own time and support as the mentor


LTD Resources – Width & Why S12-0269-AUD/CD – Your Foundation...Brick by Brick S12-0245-AUD/CD – Relationships: Communicate, Gameplan, & Counsel S11-0324-AUD/CD – For Leaders: Mentor Protege Relationship L11-0286-AUD/CD

Amway Resources – Making Money online course – Fast Track recorded webinar



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Coaching a Growing IBO Couple steven & leslie – Personal Volume + 2 legs

• Same starting principles apply

– Build their _____________________ business in the modeler

– Ask _____________________ questions and listen closely

– Understand the IBO’s goals

• Highlight alternatives and opportunities for moving toward the goals, for example:

– Increasing volume in the existing business

– Adding legs

– Moving from door openers to WIN products

• Model scenarios that both increase and decrease profitability so the IBOs can truly understand _____________________ _____________________ dynamics

• Commit your own time and support as the mentor


Amway Resources – Growing Your Business Through Observing, Questioning & Listening online course – Grow Your Business with PV Pathways recorded webinar



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Avoiding the Pitfallssilver Breaking a leg

• Joe uses the tool to teach a large group about key elements of the compensation plan

– Instead of 1-on-1 role playing

• Build a current situation

• Teach potential concerns or issues if not structured optimally (e.g., break a leg without sufficient side volume to obtain leadership bonus)

• Teach alternatives to maximize earnings with optimal structure, volume and product mix

• Key Takeaways:

– Misconception – downline growth automatically increases your income

– _____________________ is power!

– Game Planning can help avoid issues

– _____________________ changes can bring _____________________ results

Summing It UpWhat’s Your Goal?

• Driving toward qualification levels and achieving _____________________ is great!

• But getting the most money out of the business that you have is very important, as well

• Don’t ‘leave money on the _____________________’




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Action Plan Coach Your Business Partners, and Game Plan with Your Own Mentor

1. Go through this episode and study guide multiple times

2. Download the Modeling Tool and become familiar with its function

3. Manage by fact and Optimize Your Income

and Take action!

I will download the tool and explore its functionality by:

_____________________ (Day)

______ / _____ / ______ (Date)

Following are the goals I have for my business that I will share with my mentor when we meet to model my business and set a game plan.

1. ________________________________________________________________________________

2. ________________________________________________________________________________

3. ________________________________________________________________________________

4. ________________________________________________________________________________

How confident do I feel in being able to coach my frontlines using the modeling tool?

What will it take to be ready to meet individually with each?

What is my target date for having met with all of them?

come Back for Episode 8: ‘Putting It all Together’’




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LTD Resources lTd Member audio

From www.LTDteam.com, go to “Shop” or simply enter title or SKU in the search field for desired Audio.

From the Media Application, go to “My Audio” and search for the desired title.

• Width & Why S12-0269-AUD/CD by Danny Snipes

• Your Foundation...Brick by Brick S12-0245-AUD/CD by Joe Markiewicz

• Relationships: Communicate, Gameplan, & Counsel S11-0324-AUD/CD by Doug & Amie Weir

• For Leaders: Mentor Protege Relationship L11-0286-AUD/CD by Matt & Alana Grotewold

lTd documents

From www.LTDteam.com, go to Resources > Documents

Balanced Business Video Series Study Guides

• Episode One: Foundation of a Balanced Business

• Episode Two: Starting New IBOs Right - First 90 Days

• Episode Three: Starting New IBOs Right – Lengthening the Focus

• Episode Four: Creating Value, Raising Belief & Generating Buzz

• Episode Five: Quality Customer Relationships

• Episode Six: Sponsoring

• Episode Seven: Optimizing Income




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Amway Resources


Log in to Amway.com and keyword search for:

• Amway Business Modeler

Training & Education > The Learning Center > Online Courses > General Business

• Making Your Hard Work Count

• Secrets of the Sales Plan

• Maximizing Your Profitability

• Making Money

Training & Education > The Learning Center > Online Courses > Selling Skills

• Growing Your Business Through Observing, Questioning & Listening

Training & Education > The Learning Center > Webinars > Webinar Recordings

• Fast Track

• Grow Your Business with PV Pathways



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Attention

While the techniques and approaches suggested have worked for others, no one can guarantee that these techniques and approaches will work for you. In addition we want to emphasize that success in this business does not come without hard work. Likewise, these training tools are intended solely for existing IBOs only and are not for use with prospects.

The success depicted in this profile may reflect income from sources other than Amway, such as earnings from the sale of training and education materials or other businesses and investments
