The projections

In a recent event while showing plan, a significant part that requires N.I.R to conduct is the projection, why?

There are many variations derieve from the same business model. Here are the following;

1) Sunglasses - typically to remove doubt of smarty-ass think know-it-all prospects, of a pyramidic scheme. Sometimes, I noticed that the word is so general and abused by many.

2) Ten months - short and sweet type.

3) Slow networker a.k.a 4 years - a long term picture for a prospect who is hardworking and still thinks it's too good to be true. Realistic and less pressure for prospect to imagine.

4) Other business monthly cash generation - This starts by asking prospect their expected amount extra a month generated from other business they have in mind. Sometimes I found people who are in a job has no idea the amount and very likely will utter something like 50% of their current salary. I, like my sifu sifu, love using this.

Well, there was a problem. Last week a friend cum ex-colleague of mine utter a bizarre 6 figure monthly income from the other business. Taken aback by her request, I chosed the Projection (3) instead. The primary reason was in 3 years that figure matches the amount but not the duration. Unfortunately, she was expecting per-month.

Finally I managed to pop the question to a senior rep who I truly adore her teddy bear features. In this case I refer her as "teddybear girl" because she is cute and single! Anyway, teddybear girl suggested I determine the genuity of the prospect. She said N.I.R must establish an understanding whether the person is simply throwing a number or genuinely knows an alternative to generate that income amount. How to know? Ask, enquire, talk and aren't we networking.

If say prospect is true, perhaps also a networker/insurance/mutual fund agent herself, use Projection(4) with an elobrated figure to generate the desire amount. Don't be afraid with the large numbers by multiplying 10/100/1000 to get prospect's expected figure because it's a projection after all. This comes back to the 'why?' at the beginning of this entry.

Why do a projection?
What is the purpose to do a projection when showing the plan?

Simple answer: You must.
My answer: Establishes the business model can achieve prospect's target. Did you notice the bold words? At this point solely puts the decision squarely back to the prospect whether to achieve from the business model itself.