A couple of years ago when I was working full time as a mechanical engineer, I shared a “Dilbert Cube” with a colleague and we became good friends. I was reading a lot of Robert Kiyosaki books and other personal finance books at that time and I openly shared my learnings with him.
He asked me what I was going to do with my new found knowledge. I told him I was going to find a good network marketing company to get involved with. He just laughed.
He proceeded to tell me “Network marketing deals are rip offs. I’ve been exposed to Amway, Neways, Usana, etc. You can’t make money in those things!” I didn’t prospect them for my business, but several other colleagues told me the same thing, and they even told how I would lose all of my friends. [click to continue…]
If you look at the physics of an explosion, a lot of heat is generated in a very short period of time, creating a shock wave that’s loud and travels outwards, blowing everything in its path to bits. Whatever is exploded ends up burnt and in thousands of tiny bits and pieces that can NEVER be put back together again.
Explosions cause irreversible damage. That’s a physical law of the universe. It’s also a law of the business world. Countless business have failed because their growth was unsustainable, fueled by greed and ego. And you can’t put it back together after it crashes and burns because your reputation has also “exploded”. You have to start all over again.
It’s unfortunate that many people come into network marketing expecting to get rich quick. This is a wonderful industry of personal development and cultivating leadership. But the way it is often promoted, it attracts desperate people who will inevitably fail. The last thing these people ever need is a business opportunity. [click to continue…]
How much monthly residual income do you need to be financially independent? Have you worked this out yet? What does it mean to be financially independent in the first place?
Financial independence means the passive residual income that is generated from the downline you have built covers your regular expenses (i.e. taxes, mortgage/rent, utilities, subscriptions and food). Therefore, financial independence gives you the divine option of quiting your J-O-B and never having to work another day in your life. Have you worked out the income you would need to have this privilege?
Let’s say that a good round figure for living a comfortable lifestyle without ever having to work again is around $5,000 per month. Some may need more, some will need less, but $5,000 is decent enough for the average person with the dollar at its present value (it may well be $10 million a few years time, but who knows?) [click to continue…]
You can’t build a network marketing business without building relationships first. It has always been and always will be about relationships. Many companies have come into this industry and exploded because they had a revolutionary product. But often, their businesses died just as quickly because they didn’t care enough about their people.
Retention is the one and only key to making a lifetime of residual income. You can’t build this business by putting 100 people in at the start of the year and only having 6 left at the end of the year, that’s not sustainable.
With every single person you sponsor, you must have the mindset that they are going to be your business partners/associates forever. And that means becoming good friends with your prospect. [click to continue…]
When looking for a job, you’d look carefully at the job description to understand exactly what was expected of you, wouldn’t you? You would make sure that you have the capabilities to do the job and that you’d be comfortable doing it, am I correct?
After you’ve determined that you’re the right person for the job, you’d probably want to know how much you’d be paid to do what you do best. This gives you options. You can compare several similar roles with different companies and weigh up which one is the best deal before making an informed choice.
So why wouldn’t you use the same approach in choosing a compensation plan and company that would give you the best chance of success? [click to continue…]
The unilevel compensation plan is a common in modern day network marketing. By and large, a unilevel compensation plan is a linear, whereby your income is directly proportional to the number of people in your organisation.
By contrast to the stairstep breakaway plan, the unilevel plan is a very easy compensation plan to understand and explain. In companies with more complex compensation plans, you would start as a distributor and move up to Silver, Gold, Platinum, Ruby, Emerald, Diamond etc, etc. [click to continue…]
Have you ever considered how many people do you need in your downline to make $10,000 per month?
Once you work this out, the answer to this question may surprise you. It may even anger you depending on how serious you are about becoming financially independent via network marketing. The real question is: how much does your MLM company reward you for bringing in revenue?
The best compensation plan is one that will pay you the most money for the least amount of effort. Why do some companies have “better” compensation plans than others? [click to continue…]
Does your MLM company encourage endless recruiting? Or does it encourage you to sell its products to end consumers? Which is better? Recruiting or Retailing?
A steady residual income in the long term requires a good balance of both. Residual income in network marketing is your reward for building a sales force or distribution channel where large quantities of your company’s product gets into the hands of many happy, loyal customers.
Endless recruiting IS NOT a sustainable business model. If your company emphasizes recruiting, you’ve got a tough job ahead because you’ll be recruiting for the rest of your life just to combat the attrition that will plague your downline. Here’s why… [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
Dwayne Huggins
Matthew Pedler
Peter Fuller MBA