I hate math, except where it relates to increasing my bank balance. But I love this particular piece of math. If you took a penny and doubled it every day for 30 days, how much money would you have? Can you take a guess?

Let’s do the math together.

Day 1 .01
Day 2 .02
Day 3 .04
Day 4 .08
Day 5 .16
Day 6 .32
Day 7 .64
Day 8 1.28
Day 9 2.56
Day 10 5.12
Day 11 10.24
Day 12 20.48
Day 13 40.96
Day 14 81.92
Day 15 163.84
Day 16 327.68
Day 17 655.36
Day 18 1,310.72
Day 19 2,621.44
Day 20 5,242.88
Day 21 10,485.76
Day 22 20,971.52
Day 23 41,943.04
Day 24 83,886.08
Day 25 167,772.16
Day 26 335,544.32
Day 27 671,088.64
Day 28 1,342,177.28
Day 29 2,684,354.56
Day 30 5,368,709.12

On day 31 you would have a staggering $10,737,418.24.

This is what I love so much about network marketing, and particularly the company I work with that has the best compensation plan in the business. It takes some work to get the business up and running (no get rich quick schemes here). But the payoff is tremendous if you stick with it until you hit that critical mass point, where your business grows whether you get out of bed or not!

Do not quit on day 15 (figuratively speaking). I know $163.84 is not a lot of money, but if you stick with it, look at what you end up with!

I’m just giving you food for thought here, because this scenario is kind of similar to network marketing. People simply give up too soon. Dont’ do that. Don’t give up – you might just be half way there!

The good news is that in most cases it doesn’t matter.  Yes, you heard me right.  The majority of network marketing companies have good compensation plans that offer a fair exchange to you for the work you do.  More than fair if you stick with the company and really do well.

So my advice is not to worry about explaining the compensation plan to your prospects – just let them know what they need to do to build their business and the money will follow!

Our first moderately successful venture involved a health care savings plan for people who couldn’t afford – or couldn’t qualify for – regular medical insurance.  This business was going well until the law changed in Florida (where we were living at the time) and suddenly we could no longer sell that product!

We picked ourselves up, and found a new venture.  We had a respectable residual income still coming in from the first business, and we were able to build this new business even larger, recruiting a great team and building our income to what we considered to be a very high level (over $10,000 per month).  We were happy and doing well and helping others to do the same.  THAT business was based on the mortgage industry.  When the housing marketing crashed our income crashed right along with it.

That taught us our first big lesson in network marketing:

1) Don’t choose a company with a product that is likely to be legislated out of existence!  Pick something simple and safe.  We picked greeting cards because it is unlikely that sending heartfelt greeting cards will be outlawed any time soon!

2) Choose a product that you love and are passionate about.  There is a lot of repetition in network marketing when you make your presentations to your prospects – you had better LOVE talking about that product!

3) Choose a product that other people will love too!  We had a brief foray into a company that offered a video-related technology product.  Being film makers we LOVED that product.  Unfortunately, we discovered that not EVERYONE is dying to be on camera when sending emails to their friends and contacts – who wants to be seen with no makeup and wearing bunny boxers?

4) Pick a company that has no competitors.  With the video technology product there were soon a lot of competing companies in that field as computer technology rapidly advanced.  And hands up who has been offered a Miracle Drink or Wonder Water product in the past 12 months?  Enough said.

There are more ways to choose the right network marketing company – stay tuned!