posted on: 2/22/2012 12:36:13 AM EST
A Balanced MLM Scorecard - Mentor Dynamics
Balanced MLM scorecard, MLM Yes Factor, MLM tools like IBOtoolbox, Mentor Dynamics

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How do you keep a BALANCED MLM SCORECARD ? In every phase of the education system we were trained to use quantitative and qualitative measures to perform at a level aligned to the education board within a state or nationwide.

So how was this performance measured?

We sat through examinations designed to evaluate how well we could apply the knowledge passed on by our teachers. The results of the test were then measured using certain tools – Statistical tools. Based on the results whether it meant we were below or above the mean we had to make some adjustments.

In this MLM business we are testing our performance during a certain period of time. Whether, it’s the number of clicks, the number of calls, the number of views, the number of men or women in a targeted audience, the comments from a blog or article, the surveys after a meet up meeting, the “ MLM YES factor, or feedback from a webinar. We need to determine what the right tools are for analyzing our performance.

Your performance measurement must be aligned to your business strategy. Each goal must be attainable and monitored accordingly. So you might ask:

How do I go about defining performance measures for myself, my business and or team?

Performance measures should identify the population to be measured, the method of measurement, the data source and the time period of measurement. Each measure should be :

Objective – everyone should understand how the measures are aligned to the strategy of the business, the bottom line

Easy to understand - if your measure is simple and easy to apply then your entire team will use it consistently and effectively, Here at IBOTOOLBOX, the platform is designed for easy navigation, use the help videos to ensure improved performance.

Controllable by minimizing outside influences- Find the tools that work effectively and share them with your team. Train your team. This keeps everyone focused and driven to work as a team not an individual.

Timely-Know when it is time to invest, to evaluate and adjust then re-execute etc etc. When you buy ads at IBOTOOLBOX, test and evaluate them each day. Is the CTR acceptable to you and your team? What can you do to improve the emotional appeal etc, etc?

Accurate –You and your team must have to the confidence to drive you goals with highly reliable tools. The response of your measurement tools must be accurate. Verify accuracy of the measure before making the necessary adjustments.

Cost-effective – With each adjustment there should be cost benefits, even if it is soft savings.
Use performance. IBOTOOLBOX is a free promotional platform. Low cost advertising is available and highly effective. This keeps cost down while driving traffic to your business.

Useful- a useful measure for tracking your advertisement on the web is a click through rate (CTR). If you post you ads on the radio or in published news magazines, you may use a response tool like telephone number and the number of calls.

Motivating –in order for you to fuel your drive and accomplish your goals you have to be consistently motivated even when the response is not in your favor. IBOTOOLBOX is great source of inspiration to business owners because there is a high spirit derived from participation (GO IBO!). You get an MLM GREEN ARROW for participating on the wall or commenting on your associates blogs. But one of the coolest source of motivation is the credits you earn from writing a blog, referring others or attending a webinar. The latter also applies to the motivation factors for the team.

Trackable – Rate each performance attribute and track each one daily. At the end of the day sum it. Your overall score is a measure of your days performance and hat is how you balance your MLM SCORECARD.

Performance measures are quantitative and qualitative ways to characterize and define your MLM performance.

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Drive business goals via mentor dynamics. Use MLM tools like IBOTOOLBOX
Consistently drive your business goals. You too will realize you dream.

BUSINESS OWNER COMMENTS:     leave comment
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Vonda Futral   1451 day(s) ago
As leaders we also have to find rewarding means to keep our team spirit high. Kindness goes a far way and that's what works in this IBO community. Thanks for sharing on motivation Jeanette.
Vonda Futral   1451 day(s) ago
Ed, Michael and Dustin, it is this sharing that keeps our spirits high even when our results are not aligned to our efforts.
Dustin Grant   1451 day(s) ago
Motivation! Is a Ky to success. good article!  Http://
Michael Summers   1451 day(s) ago
Interesting blog Vonda, thanks for sharing.
ed Diop   1451 day(s) ago
A lot of substance here Vonda! Thanks for sharing with us so that we might increase our desired results! Best wishes!

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