If not, then you are missing out on a massively influential and powerful tool to grow your home business team. However, the problem that I see all too often though is one of two things….either people don’t offer a sweet enough prize OR they actually give up on hosting the contest before it is over.
How does that even happen?
I honestly don’t know, but it does happen. Regardless, these suckers will explode your business if used appropriately.
So what are the key points needed to run successful “home business contests”?
Well, here are 3 things that you must have, in my opinion, for it to be worth anyone’s while…
1. A Prize Worth Going For
Many times, people will offer cash prizes (that’s what I usually do), but they don’t make the first place prize high enough, or the overall prize just sucks. For instance, if you offer $100 top prize to someone for working their tail off for 60-90 days, it probably won’t push them over the edge in order to go for it. BUT, if you throw out a $2,000 top cash prize, that might turn your team’s head a little bit.
2. Home Business Contests Point Systems
If you look at what the big names in the industry do when they run contests or challenges, they offer some type of tracker or point system. Why? Because it forces people to see what actions they are doing that actually generate income for themselves, also known as “income generating activities.” If someone is being forced to face or change their activities towards ones that actually put money in their pocket, then the point system tracker is doing its job. Plus, it gives everyone involved a third party sense of accountability because they usually have to submit their points each week to the moderator for tallying.
3. Weekly Conference Calls
What does this do? Well, it does many things, but one very important aspect is that it keeps people engaged, interacting with others in the contest. It also gives the contestants a little competitive ‘juice’, and allows them to learn from each other as well. Attendance to this call is usually included in the point system so it is just another way to keep accountability with people.
Basically, home business contents are not used enough in my mind, but you can change that. Tell me what you think below in the comments section. I would love to know your thoughts.
Until next time…
Dr. Timothy Lawler
P.S. If you want to see how I use home business contests in my own business, be on the lookout for a contest that I’m launching soon with a cash prize of $1,000 OR MORE! Details are being worked out so email me at email@example.com for the general guidelines.