When you joined your first network marketing company, did your sponsoring upline tell your that they have a system? What was that system? What did they tell you to do? Make a list of friends and family? Was that their system?
Did they tell you to buy leads from a particular lead broker at some ridiculous price per month? Did you find out that 99% of the leads that you bought didn’t want to hear from you? Hmmm… (they didn’t tell you they were making money from selling you those leads?)
If you are in a good company, which has stood the test of time, has great products that people are buying and a great compensation plan, you still CANNOT be successful unless you also have a proven duplicate-able system. [click to continue…]
In choosing the right MLM company to build your long term executive level residual income you must look closely at the company management, the companies timing and its products. Another very important aspect that is crucial to your long term success is the company’s compensation plan. In fact, it is imperative that you understand your compensation plan.
People often ask “What is the best compensation plan?”
The best compensation plan allows average people to get above average results. The best compensation plan requires the least amount of people to make the most amount of money. It should allow the average person to become profitable in the shortest amount of time. It has to be a fair plan, otherwise the business is not sustainable. [click to continue…]
Every legitimate business, no matter what industry, sells a product or service to a consumer or a client. Product is a very important part of your network marketing business and should never be overlooked.
However, it is easy for people with less experience to get caught up in the emotion of products. Some people will jump straight on to a “trendy” product. Some people will go out of their way to justify why their product is better than anybody elses even though it’s three times more expensive.
Here are three criteria you can use to determine whether you will have success with a product:
- First and foremost, is there a tangible product?
- Can you make recurring sales with the product?
- Is the product value priced?
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It’s very well known in the home based business and network marketing industries that over ninety-nine percent (99%) of new business opportunties do not last more than two years.
Unfortunately, this fact is not well known enough, especially to people who have less experience in the home based business arena. Too many people are attracted to the glitz and the glamour and are caught up in the emotion of new products, explosive income and make big gambles and lose.
New home based business opportunities pre-launch or launch just about everyday. In October 2009 alone, over twenty-five (25) new home business opportunities were listed by the website Npros.com – a home business resource. The vast majority of them will close their doors before they are even two years old. [click to continue…]
Lately, I’ve been reading The Warren Buffett Way by Robert G. Hagstrom. Hagstrom writes about the fascinatingly simple principles that have guided Warren Buffett’s decision making in investing over that past 60 years that have allowed him to accumulate such immense wealth.
Warren Buffett’s formula for investing fundamentally has not changed since his first fund was established over 50 years ago. Buffett never gets distracted by fads or promises of explosive returns. So called experts have often criticised him for his stubborness and his “old fashioned-ness” and yet he’s always had the last laugh when their bubbles burst. [click to continue…]
If you want to create long term residual income in network marketing and have that support your desired lifestyle, avoid MLM companies with high overhead.
The more overhead an MLM company has, the less chance of success you will have in the long term, because the less commissions it can pay you for the hard work that you do as a distributor. The less commissions it pays, the more people you’ll need to sponsor.
The more you’ll need to sponsor, means your recruits will need to sponsor more as well, increasing their likelihood of quitting the business as they’ll realise little return for their efforts. [click to continue…]
