In part 1 of MLM Due Diligence, we set the criteria for assessing a company from the outside. If a company fails on any of those tests, it’s best to leave it and move on. Now we really get into the meat and potatoes…
First of all, why is it so important to pick a good company to build with?
Simple. The reason why Warren Buffett is so wealthy is because he is very, very careful with his investment decisions.
Only when he is absolutely confident that a company will continue to grow and be profitable long into the future, will he put his money into it.
I heard that of the thousands of potential investments he studies every year, he is happy to make just ONE good investment decision. That’s just amazing! [click to continue…]
If you want to build a solid network marketing business that will pay you a lifetime of income and that you can pass on to the next generation, you must choose a good network marketing company.
In my opinion, the company you choose to build with will account for as much as 40% of your long term success. The other 60% comes from YOU.
There are big, brash leaders in network marketing who will tell you that your success is all up to you. It’s all your fault if you’re not successful. “If it is to be, it is up to me!”
That’s a half-truth.
Sure, you can become the most highly developed individual, have a super positive mental attitude, have a magnetic personality and still end up in an illegal pyramid scheme that gets shut down by the Federal Government, and gets you sent to jail.
The company you choose WILL have a major bearing on your long term success. You must choose wisely. [click to continue…]
I was really good at goal setting in my early days of network marketing. Being young and naive, they were mighty impressive and awe inspiring. Boy, was I fired up!
Well, I quickly learned that setting goals was easy, achieving them was quite a bit harder. The expectations were great and so were the disappointments.
I’m not knocking goal setting here. I still have my goals. Goals are important, but I’ve learned to not be so emotionally attached to them. Instead I focus on the day-to-day process. There are no unrealistic goals, only unrealistic time frames.
So having said that, the first goal for any new network marketer, before setting any lofty goals, should be to break even on their monthly business expenses! (i.e. autoship, advertising, etc.)
Why? [click to continue…]
The term “Best MLM Company” is searched in Google about 4,400 times per month globally, which indicates there are about that many people all over the world looking for information, opinions and reviews on just which one of the many thousands of MLM companies in world is the best.
I’d guess that significant portion of these people are looking for an opportunity to join. Perhaps they are brand new to the network marketing industry and are looking for the best possible chance of success. Or perhaps they have come to the realisation that their current company isn’t going to take them where they want to go.
But here are the 2 major problems with trying to find the needle in they haystack, the holy grail… 1) it can’t make you successful and 2) just how do you define the best MLM company? [click to continue…]
What does it mean when a company does away with its play plan? It’s an absolute kick in the guts to the hard working reps who built the company from the ground up. All that hard work inviting people, talking to them on the phone, meeting people in cafes, restaurants and homes, doing presentations, the “no shows”, follow ups and coaching calls all of a sudden means nothing – a complete waste!
That’s what happened to the distributors of XELR8, makers of the Bazi nutrition beverage. Their company, a publicly traded company, just did away with their compensation plan. The three top distributors who had all reached the 250K Diamond level literally lost their livelihood over night and now they have to rebuild it all over again.
On January 19 2010, the chairman of XELR8, sent a letter all distributors telling them they are getting rid of their Multi-Level Marketing pay plan by the end of February 2010. Replacing the MLM compensation plan is a direct sales model where distributors earn a commission only from the retail sales of the product. [click to continue…]
A network marketing company is your vehicle to financial independence – the thing that takes you from where you are now, to where you want to be. Even if you are a good driver, you need to have a safe, reliable and efficient vehicle to get you to your destination.
So how do you know if your vehicle is capable of taking you to where you want to go? How do you know that you have the right vehicle? And what do you do when you find out that you’re in the wrong vehicle?
That’s where the 5 pillars can help you to assess whether the MLM company you’re representing is the right vehicle for you. The 5 Pillars are what you need to be successful in a company in the long term. [click to continue…]
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?
[click to continue…]
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…]
"I've been in MLM since 1972. I've written and published several MLM books that people have used to build a good income from home. I've read all the great books this industry has produced. And yet, I've never seen a book that has produced as many strong network marketing leaders as fast as 'Success In 10 Steps.' If you're serious about avoiding the pitfalls and creating a successful future in MLM. THIS is the book you need to read!" Tom "Big Al" Schreiter, MLM Trainer & Legend
Jerome Ratliff
Derek Alvarez
Josh Garcia
Charlie Holles
Eric McMillan
Chris Owen
Susanna Hess
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Matthew Pedler
Peter Fuller MBA