How to Prospect: the 50-5 Formula

Last night I had a conversation with one of the Beachbody Coaches on my team. We were discussing her goals for her Beachbody Coaching business, which included growing her own team. This includes finding the right people for the job, recruiting them, and providing the right training to help them start off right in their first 90 days on her team. We had a conversation about “50-5,” the time-proven formula for recruiting. If you are a Beachbody Coach who realizes that a team will help you do more than what you can do alone, then you’ve probably been recruiting and may be well aware of this formula:

The 50-5 Formula:
One must reach out to 50 people to book 10 in-person or phone interviews. From those 10 interviews, only 5 of the candidates will be the right fit for the opportunity you present to them.
Summary: 5 will be right for the job we do, and 45 will not.

The key point is that: one must go through 50 to get 5!

It may appear that doing all of that work prospecting for such a small numerical return is a waste of time. It’s not. Personally, I have found that the 5 that are the perfect fit for my team are worth every moment spent trying to find them, because they end up to be incredible Beachbody Coaches!

And another reason why those 45 “no’s” are so valuable is that, without them, it’s impossible to get our 5 perfect fits.

In the time spend prospecting, we are able to meet many people along the way who, in ways we may not know, will either help us or us help them. Sometimes they may not be the right fit, but they know someone who is and are happy to refer them to you. Other times they are perfect for an opportunity you know about and you can help refer them. My point is, every meeting with another person could go beautifully. We just have to be open to all of the possibilities.

Connecting with and staying in connection with everyone we come into contact with it essential for Beachbody Coach leaders who believe that no appointments are accidents. Everyone who is meant to be in my team will be, and I believe that wholeheartedly. This gives me a sense of peace as I do the diligent work of prospecting.

Here are a few tips to mastering the 50-5 formula:
- View every connection as an opportunity.
- Review all of your current connections and book appointments with them.
- Treat the person as a valuable connection, and no mater the outcome, stay connected with them.
- Schedule your work time accordingly, basing your activities on the 50-5 formula.
- Ask for referrals! People may not think about it until you ask, and be prepared to describe the perfect fit (this is the BIGGEST reason why Beachbody Coaches don’t get referrals, because they do not adequately describe who it is they are looking for).

Remember – there is only so much we can do alone…not only in business, but in life as well. Alone, we can only go so far. Together, we are able to lift each other as we climb, serve thousands of people versus a few hundred, and reach our goals in business much quicker. Plus, it’s just gosh-darn fun to have a Beachbody team of active, caring Coaches to do life with!

Trust me – the prospecting is not only essential, it’s worth it.

Happy prospecting!