My friend and often co-author Orrin Woodward recently posted a nice summary of the first year of the Life Business on his blog. It has been a very busy year, but one full of victories and breakthroughs. We launched our dream company with a dedication to the business owners in the field. Our vision is to accomplish something that has never been done in this profession, and our first year in business shows overwhelmingly that we are on our way.
A hearty thank you to all the founders of the Life Business and all the first year’s participants. May 2013 be an even better demonstration of your faithfulness and hard work, and may you make a difference in the lives of many!
Here are a few of the highlights from Orrin Woodward‘s blog:
1. The LIFE business surpassed 100% increase in subscriptions of the LIFE and LLR Series in under one year of business.
2. The LIFE business launched the Mental Fitness Challenge and sold thousands of 90-day challenges throughout North America.
3. The LIFE business paid out over $1,800,000 in end-of-year bonuses and free trips its first year.
4. The LIFE business paid out over 70% bonuses on its product volume points in its first year in business.
5. Rob Hallstrand, Chief Operating Officer (COO) of TEAM and a LIFE founder, coordinated operations for both companies, and combined sales blew past $50,000,000 (with LIFE leading the charge) from the Flint, Michigan based office. Chris Brady and I have had many great years since forming our first leadership training company in 1999, but nothing feels as good as having the best sales and profits ever this past fiscal year.
6. Team training produced its best operating margins ever (of which 100% of profits flow back to field trainers), as Mr. Hallstrand continued his dramatic turnaround of Team operations. In fact, employee cost-per-profit-dollar has decreased over six times in his three years as COO, leading to increased bonuses for field trainers and office staff—a truly stunning performance.
7. Customers composed nearly 20% of total LIFE business subscriptions in its first year. Considering new members have six months to learn how to develop customers, this number will only grow as members complete training. What other community building business hits 20% customer subscriptions in its first year?
8. The LIFE business launched the Edge Series for youth and has added thousands of satisfied families in LIFE’s first year.