| Sep. 13 2007 at 4:59 PM |
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I really don't agree that "it is a certain type of person" that succeeds in network marketing. One of the true joys is that people you would think are "least likely to succeed" actually are the most successful.
Network Marketing opportunities are no different to any other in terms of there being good and bad ones. As with any other opportunity, proper evaluation will soon show the opportunity for what it is.
Some key things to look for are
1) The cost of being a representative - should be nominal or minimal.
2) How involved with clients will you be. Look for companies that ship the product(s) to your clients rather than relying on you to do so. This business should be all about your recruiting and have next to zero logistical challenges.
3) Are the products consumable? These will offer long-term residual income.
4) Are you Governed by territory? There should be none. I.e. this is your business and you should recruit from anywhere.
5) What is the value of the compensation plan?
6) What is the background of the people at the Corporate level?
7) Is the product one you can believe in? Is the product in a huge and expanding marketplace?
Too many people shy away from network marketing because of self-imposed mental barriers. The truth is that ANYONE truly can succeed. It needs to be treated professionally - this IS your own business!
Network Marketing offers business ownership at virtually zero cost. Your effort and commitment will determine your success. There are no "get rich quick" realities. However, network marketing affords the opportunity for anyone to achieve financial freedom if they so choose.
The reality is that this is a hugely expanding industry that is utilized by virtually every major Corporation to some degree. For every one person that has the stamina and financial resource to start a restaurant in an industry with a 95% or so failure rate, there are hundreds of people who can devote their time to building their network marketing business.
It's time to shake off the negative stereotyping of network marketing and recognise it for the opportunity it represents. Anyone is right for it if they choose. Can you think of any other no-risk business startup? A business model that can provide income for life from a few years of effort?
I hope it's OK to attach a link to a video here. If interested, please click on "Watch Brilliant Compensation" when the link opens. This explains network marketing far better than I can.
Brilliant Compensation
Edited by: Leedsfan - Aug. 13 2008 at 10:39 PM
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| Sep. 13 2007 at 10:43 PM |
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You showed what to look for in a MLM Business but you didn't put here the key factors of evaluating one self.
1) Is the person really right to do this? Do they have the self discipline to operate on their own? Meaning, a regular 9-5ver will show up to work for a pay check. Commission work is harder which is in a way what MLMs are.
2) Do they know a lot of people in their "network." Do they have a support system within their immediate family?
3) Do they like sales to begin with?
4) Can they handle rejection?
5) Are they prepared to lose some friends and family because MLMs have cult like tendencies.
6) Will they have a good "upline.?" Observe the group meetings before you sign up. If they are overly excited-chances are its a smokescreen to get you to join in. You'll find out later most people are still broke.
Just my opinions.
LT
http://www.face2facevideocard.com
"videos can say it like it is"
09-21-2007
www.senatinproperties.com
real estate investments
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| Sep. 14 2007 at 1:57 AM |
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Hi LT,
Thank you for the post.
The forum we're on is all about people looking to secure their own futures through business so I honestly think your questions in the main apply to anyone looking to do so.
Personally, I wanted to start a business because I didn't trust that other people would secure my future - I wanted to do so.
May I ask if you watched the movie to which I linked as I think it really answers all of your questions?
The truth is that all of us engage in network marketing on a daily basis. "I love the new Italian restaurant", "have you seen the new phone from..." etc.
This is the natural way that products, services and lifestyles are "sold". Unfortunately, we've somehow been conditioned to think that "working 9-5", "make sure the pension is good", etc., are natural human paths.
My two part question to you is - do you think that network marketing successfully sells products and do you think that there are many people achieving wealth from the industry?
We are here on a forum that exists because people are looking to secure their futures in a non- 9-5 manner.
When I started my tent business, everyone in my family knew, I not only encouraged friends to use my tents, but also employed friends to help me with that business. That scenario has all kinds of legitimacy doesn't it?
I re-financed my house, came desperately close to bankruptcy twice, was ill through stress, but made a decent living and sold the business for a profit.
How much money on an ongoing basis do you think I will make from 15 years of busting my hump, dealing with the stresses and strains and creating everything to do with that business? The answer is $0.00
I'm a Brit. We are given the power of skepticism in the womb. Through circumstances, I encountered a network marketing company that made me sit up and look. Since day one I have tried to pick holes in it - tried to find "downsides". I can't.
If you can find me an opportunity for virtually zero down, that trains me, that allows me to "pay it forward", that has next to zero stress, that affords me my choice of hours worked and location to do so, and will, with my commitment afford me financial freedom and a residual income for life, please share it with me and I will give it my full attention.
I stress that as with ANY business you should evaluate everything. What is driving you to seek a business? Independence? Securing your future?
Traditional business starting will put your neck on a block. Loans up to your eyeballs, probably family money riding on your efforts, you better like rejection! You better like stress. Are you a business owner or are you employed by your own business?
Network marketing or MLM allows an opportunity to start your own business out of your own pocket.
There are good, bad and indifferent in every industry. If you have a bad meal at a restaurant, does it mean you never go out to eat anywhere?
Somehow, we live in a world where someone who invests $1 million in a donut franchise that goes bust because of a trend to Atkins diets is an unfortunate victim of circumstance. Someone who invested $50 to be a representative of a network marketing company and made no money is a victim of that industry. It's frankly, ridiculous.
Most would agree that any business start up will take two years to prove itself. There is a reason that banks are reluctant to lend money to "less than 2 years businesses". The overwhelming majority fail. Why?
In my opinion because of fear. New ground, no man's land, out of the comfort zone, call it what you will is tremendously scary. It does take tenacity to see through the first two years of ANY business venture, if you are from a non-entrepreneurial background, which thanks to school, we all are.
These "rules" also apply to network marketing. It will take effort and commitment. There is no free lunch. Most in network marketing quit before the two years is up. That's a bloody shame. The overwhelming money earning in network marketing happens after the first two years.
The reality is that network marketing cost virtually nothing to get into. This means that you own you own business for next to nothing. If you make consistent and persistent effort you will be rewarded with a life of residual and passive income.
Do Herbalife, AT&T, Mary Kay, Pampered Chef, etc etc and people like you and me in those networks make money? There is $30 BILLION of business in the US alone per annum done via network marketing.
Does that mean all network marketing companies are great? Plainly not. You should do as much due diligence as if you were borrowing $1 million for a coffee franchise. However, find the right company in the right marketplace with the right product and plan and you will find no better way of developing true leveraged passive income and financial freedom.
I urge you to view the video I linked to.
All the best,
Andy
Ltressel wrote: You showed what to look for in a MLM Business but you didn't put here the key factors of evaluating one self.
1) Is the person really right to do this? Do they have the self discipline to operate on their own? Meaning, a regular 9-5ver will show up to work for a pay check. Commission work is harder which is in a way what MLMs are.
2) Do they know a lot of people in their "network." Do they have a support system within their immediate family?
3) Do they like sales to begin with?
4) Can they handle rejection?
5) Are they prepared to lose some friends and family because MLMs have cult like tendencies.
6) Will they have a good "upline.?" Observe the group meetings before you sign up. If they are overly excited-chances are its a smokescreen to get you to join in. You'll find out later most people are still broke.
Just my opinions.
LT
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| Sep. 16 2007 at 1:23 AM |
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Hi there,
The most important thing to remember in MLM is that you are making money by selling products to prospective users, who buy it not because what the product can do for them but it is you who is selling the product. While the satisfied user complements you for offering him/her a great product, you stand the risk of losing the relationship when a user isn't happy about the product. So, picking the right product and a realistic assessment of its benefits is the key. Relationships are more important than an 'one time deal'. Don't you agree?
Deepak
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| Sep. 17 2007 at 10:54 AM |
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Hi Deepak,
I couldn't agree more about relationships being more important than one time deals. Again, I believe that applies to any and all business models you would choose to engage in.
I think that the essence of that relates to you true intentions when you are talking to prospective users of product or indeed prospective representatives.
If your "inner" intention is that I'll call ........ because he will buy my product or I'll be able to sign her as a rep, that is a recipe for impacting a relationship if things don't then progress as you envisage them.
However, if it is your true intention to approach someone because you want to show them something - product or business opportunity - that you believe would benefit them and do so in response to their expressed need then there should be no issue with that as long as your intent is true to your prospect and not to yourself.
It is clear that there are MLM companies that "encourage" you to sell a product or opportunity to your circle of influence.
Now plainly that makes sense to a degree - e.g. if you opened a restaurant would you keep that fact secret from all your friends? - however it leaves out the vital element of respect and intention in you approach.
From personal experience, a friend whom was buying product after I had introduced it to him cancelled because it was "not for him". That has not impacted our relationship in any way at all. My belief that the product is right for his needs has not changed, but I wholeheartedly respect his viewpoint.
He had no problem cancelling rather that being a "sympathy buyer" as he knew where my intentions were. Because there was integrity of intention throughout, there were no issues at all.
This all highlights a vital part of evaluating a network marketing company - what is the training like? It seems to me all the bad perceptions and personal "failings" with network marketing relate to training.
Again, the industry as a whole is a thriving, burgeoning industry. Many many people thrive within it. It is successful on a business and personal level. That certainly does not mean that all network marketing companies are wonderful, or indeed products. Evaluation of both is essential if you are to commit yourself to starting your network marketing business.
The Brilliant Compensation video at www.freefromstress.net/fivebyfive is a great tool to help with that evaluation. The interactive questions at the end particularly address your thoughts.
I would truly welcome your feedback from that.
My best,
Andy
Edited by: Leedsfan - Aug. 13 2008 at 10:41 PM
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| Dec. 09 2007 at 11:54 PM |
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Leedsfan wrote: I really don't agree that "it is a certain type of person" that succeeds in network marketing. One of the true joys is that people you would think are "least likely to succeed" actually are the most successful.
Network Marketing opportunities are no different to any other in terms of there being good and bad ones. As with any other opportunity, proper evaluation will soon show the opportunity for what it is.
Some key things to look for are
1) The cost of being a representative - should be nominal or minimal.
2) How involved with clients will you be. Look for companies that ship the product(s) to your clients rather than relying on you to do so. This business should be all about your recruiting and have next to zero logistical challenges.
3) Are the products consumable? These will offer long-term residual income.
4) Are you Governed by territory? There should be none. I.e. this is your business and you should recruit from anywhere.
5) What is the value of the compensation plan?
6) What is the background of the people at the Corporate level?
7) Is the product one you can believe in? Is the product in a huge and expanding marketplace?
Too many people shy away from network marketing because of self-imposed mental barriers. The truth is that ANYONE truly can succeed. It needs to be treated professionally - this IS your own business!
Network Marketing offers business ownership at virtually zero cost. Your effort and commitment will determine your success. There are no "get rich quick" realities. However, network marketing affords the opportunity for anyone to achieve financial freedom if they so choose.
The reality is that this is a hugely expanding industry that is utilized by virtually every major Corporation to some degree. For every one person that has the stamina and financial resource to start a restaurant in an industry with a 95% or so failure rate, there are hundreds of people who can devote their time to building their network marketing business.
It's time to shake off the negative stereotyping of network marketing and recognise it for the opportunity it represents. Anyone is right for it if they choose. Can you think of any other no-risk business startup? A business model that can provide income for life from a few years of effort?
I hope it's OK to attach a link to a video here. If interested, please click on "Watch Brilliant Compensation" when the link opens. This explains network marketing far better than I can. http://www.explorefreedom.com/fivebyfive/
Although I'm not 100% for MLM, he does have a good point. An MLM is still a business and anyone can succeed or fail in any business -- it really depends on your will to succeed and if you're going to follow through. Like any other business, you can't expect anything from it. You have to earn it and put your blood, sweat and tears into it. If you can do that and rise about your competition, you can make money in ANY market.
My site: www.entreplanet.com
The community for entrepreneurs!
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| Dec. 26 2007 at 10:58 PM |
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I believe based on what the baby boomers have done so far that when people see how they can leverage their time, this industry will take off. People have to remember what almost happened to franchising when that was alsmost deemed illegal, now look at it today. When people learn how to leverage their time it is the most ethical business on the Market today!
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| Jan. 23 2008 at 1:18 PM |
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After ten years with three companies I made a vow to never invest time, money or energy in Network Marketing. I kept that vow for ten years while working for others, starting a brick and mortar business and pastoring a congregation.
One of my brick and mortar customers was very successful in MLM. In spite of that, we became friends and my wife and I decided to build a Network Marketing business which has become very profitable.
#1 We had a huge need. You have to have a big reason to do what it takes to build this type of business. Pain is the best motivator.
#2 We met the right people. They became friends, were successful and good sponsors. What's a good sponsor? A leader who is willing to go to work with you and teach you the subtle things that make you a good leader specific to your MLM.
#3 A great product manufactured by a great company. We had a product we wanted our family and friends know about with no shame or embarrassment, that they though was worth every penny at full retail. We never felt a need to offer it at a discount.
#4 A great system. Do you think MacDonald's has the worlds best hamburger? Then why do they sell more hamburgers than anyone else? Because they have the best system!
These are some things that are part of the equation for success in Network Marketing. Do not let the fact that not everyone suceeds in Network Marketing scare you. The same holds true for every other endeavor in life.
Edited by: dsprindle - Jan. 23 2008 at 7:04 PMhttp://www.christian-business-opportunities.org
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