Everybody knows that building a downline is hard work and that steady residual cashflow is not immediate. It may take months to years of dedicated work in building strong relationships and sponsoring people to eventually generate enough income so you can walk away from the daily business building activities and retire to the MLM lifestyle.
In the meantime, networkers must spend a lot of time, money and energy promoting themselves, and their “solutions” to attract the right prospects. For most people, money is the major issue. They need money to pay for their monthly autoship, for advertising, for the long distance phone calls and other overhead.
So what’s the solution to this money problem? Is it the “Funded Proposal”? There are quite a few people who say that it is a great way to generate “instant” cash and even make a substantial profit while you build your network marketing business for leveraged income. But is this really true?
There are ALWAYS two sides of the coin… [click to continue…]
Do you know who your prospect is? Moreover, do you know who your IDEAL prospect is? Most people in network marketing don’t have a clue who their prospects are. And because they don’t know who their prospects are, they never attract the right people to them.
The reason most of us networkers don’t know our prospects is because we haven’t taken the time to listen and understand who they are. We never shine the spotlight on the prospect because we’re too busy shining the spotlight on ourselves, our product and our opportunity.
As distributors, we’ve forgotten what it’s like to be a prospect. We tend to “vomit” all over them with our offer, like this: “We’ve got this awesome super juice that will cure cancer, make your hair grow back, your arms and legs grow back. We’ve got this super comp plan that pays out more money than you put in and our superstar space commander upline leader earns a million bucks a month!” [click to continue…]
What do prospects consider to be most important when making a decision to join a company? Is it company image? Company management experience, perhaps? A company’s product line, literature, history and heritage? How about potential earnings?
MLM industry legend Tom “Big Al” Schreiter, who comes face-to-face with thousands of people every year through the generic MLM training tours he does all over the world, discovered none of the above were of significant concern to prospects.
What he discovered were the top three things that influenced a prospects decision to signup, by a land slide, had NOTHING to do with the company providing the opportunity or the products. They were the following… [click to continue…]
Is it a good idea to be distributor for more than one MLM company? Logic would suggest that it is.
Today there are many network marketing companies that fail. Some companies are illegal and are shut down by the Government. Some companies must go through massive restructuring to survive. Just last week, a publically traded company terminated it’s MLM pay plan in favour of direct sales because it couldn’t afford to pay both the investors and the distributors at the same time.
Some network marketing company owners just plain have no integrity. They start out as a network marketing company to save money on advertising and get all of their distributors to take the risk in putting their name out there. Once they have enough customers, they just terminate the pay plan when they feel like it. Trust me, this has happened. [click to continue…]
Ninety-seven percent of networkers are destined for failure BEFORE they even start building their home based businesses. With no training on marketing and prospect psychology, without any clue on how to do this business, they are literally told to start burning bridges around them.
In my first network marketing company, there was no training on how to connect with prospects. It was all about inviting people you know to a meeting, showing them “the plan” and telling them you have access to the best products in the world and closing them with “grab your spot now because somebody who joins after you might EXPLODE and you’d hate to miss out on that wouldn’t you?”
It was all about tell, tell, tell. The formula was 15 plans a month. Here are some of the catch phrases that I can recall from listening to the CDs. “We’re looking for 15 planners!”, “If you’re not showing 15 plans a month, this is not a real busiess, it’s a toy!”, “I’d rather work with someone who shows 15 plans a month and signs up nobody than someone who shows only 2 plans and gets 2 signups.” [click to continue…]
The late Gary Halbert, who was one of the most talented direct marketers of all time, once asked his students:
“If you and I both owned a hamburger stand and we were in a contest to see who could sell the most hamburgers, what advantages would you like to have on your side to help you win?”
His students replied with a volley of responses:
- “I would use the freshest, tastiest hamburger meat!”
- “My prices would be the lowest!”
- “I’d pick the busiest location!”
- “I’d want a world famous recipe!”
- “I’d offer customers credit, so they can pay later!”
- “I’d have more staff so that I could serve more people faster!”
- “I’d sell my burgers wholesale!”
He listened to them all patiently, until each had their turn. He then turned and said…
“I’ll give you every single advantage you have asked for… but I only want one advantage. And if you give it to me, I will whip the pants off all of you when it comes to selling burgers!” [click to continue…]
