Every piece of innovation resides on one single moment of inspiration. Do you remember the moment that light went off in your head? When did you gain clarity and see your future laid out like a treasure map in front of you? When did you realize that all your dreams were suddenly possible, and highly probable?
Every entrepreneur has a moment that defines his or her future.
What was your defining moment?
It all happened so suddenly. One day, the president came bouncing into my office and announced that we had just posted our first 1,000-enrollment day. A quick high-five and he was out the door. Wow! I could hardly believe it.
Then, the very next day, he was back in my office again. This time there were no high fives. Yesterday’s exhilaration was gone. “Terrel,” he said. “Yesterday we had 1,000 new enrollments . . .,” his voice revealed his deepest worry: “. . . we also had 1,000 cancellations.”
My stomach sank. Who could have imagined? “We understand how to recruit,” he said. “Now, we’ve got to figure out how to retain.”
In that short interchange, my life’s passion and goals were defined-laid out before me like a clear-cut roadmap to the future of an industry.
Many network marketing and direct sales companies had figured out how to recruit. Over the course of 50 or more years, an industry had begun to master recruiting. And, those who wanted to survive needed to face a cold, harsh reality: learn how to retain their field reps, or suffer a miserable death. The next 50 years would be dominated by companies that master field retention.
The challenge had been presented. Companies who could discover the secrets to increasing field retention would succeed-and become the leaders of a new paradigm in the industry. These would be the companies of the future. These would be the stellar performers. These would become unlimited profit centers.
Here’s a statistic that’s difficult to digest: only 15%-18% of new startups survive past the first year! One of the leading causes of death is field attrition. The industry average field attrition level is 80% per year!
Is that acceptable in your business?
Is your goal to continuously replace distributors and customers (“field reps”)-to out-enroll attrition? Or, would you rather continuously add new field reps and reach new levels of growth and profitability?
Some executives have decided they cannot do anything about attrition. So they continue to simply focus on recruitment to replace cancellations.
Are we saying not to focus on growth and recruitment? NO!
What we ARE saying is that you can do something about attrition. You CAN increase retention!
Consider this: Is it easier and more economical to keep a field rep or replace a field rep? You already know the answer. But, what is the solution?
It was my goal to find out. So, that’s when I started on my journey to understand how to reduce attrition and increase retention. My entire career path took on new meaning, a new focus. I formed ServiceQuest and began the journey. Since 1988, ServiceQuest has consulted with over 130 network marketing and direct sales companies. I’ve worked with thousands of corporate executives and staff members. I’ve interviewed tens of thousands of field leaders, new field reps, and those who have given up and quit. During these interactions, I learned great lessons. In short, I’ve discovered, and defined, the industry best-practices that lead to higher levels of field retention.
Today, through ServiceQuest, I offer you a wealth of experience and knowledge-not something I’ve created from scratch, but something gained from working directly with the best in the profession of direct selling.
Today, I share these best practices with you-knowing, from experience, that every company can build wealth through retention. I provide this knowledge to you in the form of training, systems and tools that you can implement immediately in your company – shaving years off your learning curve and enabling immediate benefits.
If you’ve already figured out how to be profitable at your current retention levels, that’s fantastic! But imagine how much more profitable you could be if you further increase retention. Imagine how much more excited your field reps will be. Imagine how much easier it will be to recruit when your business is almost a guarantee of financial success.
If you’re not yet profitable, increasing field retention will help you get there-and get there quickly.
Sound like a worthwhile goal?
Are you ready for the next 20 years?
I am. And, that’s my story of inspiration.
I can’t wait to hear yours.
Terrel Transtrum started his business career at Melaleuca at the beginning of its historic growth period to $250 million in annual sales. During that time, in charge of distributor service and internal operations, Terrel started with the company when it had 35 employees and was part of the team that helped to grow the company to more than 1,100 employees, 250,000 active customers and distributors, and $240 million in annual revenues.
Since 1988 Terrel has worked with more than 130 companies, thousands of executives and managers, and hundreds of thousands of field reps and distributors, observing retention best practices in the office and in the field, training organizations in the office and in the field, and developing the most efficient methods of delivering the knowledge, skills, tools and techniques that guide clients toward retention mastery.