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How important is a long term business plan? What should you expect to see? Ten or twenty years; fifty years? Of course things can change drastically despite the best laid plans and intentions. However, if a network marketing company has been set up truly for the sake of the distributors, then it is reasonable to expect a long term plan to be in place.
Am I being too fussy? Do you think I am scaremongering? As a mentor and student of the industry I have seen too many examples of people who set up a company, milked it and then allowed it to collapse. [click to continue…]
We all talk about having a system to build a network marketing business. Why is it so important? The point of building residual income is so that you can walk away from the business at some point. If your system is built around individual people, not everyone will be able to do the same thing. So when you step out of the equation, your business will collapse.
Another key point is to what extent the company really puts the distributor first. Many say they do but would they listen to and take on board comments made by the people at the bottom of the compensation plan? Is the company president accessible on the phone? Many of them are surrounded by barriers you could hardly get through with a tank!
When you start a home based business, you are going to invest a lot of time and energy and some cash too. You are hoping to build a fantastic future. Don’t start with the cards stacked against you.
If this sparks your interest, take a look at the two previous posts (parts 1 & 2). The last part will be up soon. Your comments are always appreciated.
So you are happy with the company and the timing in the industry – great. Now what about the product? there are a few points to consider here. For one thing you definitely need a repeat sale product. I tried vainly once, to build a business with a single sale product. It’s kind of hard to build residual income when customers don’t come back!
Now do you understand the compensation plan? Probably not but most people don’t get all the detail. You just need to be able to crunch the numbers. Work out how many people you need in your team, ordering product on a regular basis (distributors and customers) to earn 10K per month. As long as you know that, you can plan your strategy. It can vary from 400 to 5000, which is quite a thought.
We always have to take responsibility for our success and failure in life. A mentality of blame is that of losers who always look for excuses. Nevertheless, network marketing is not always a level playing field. I know many people who have worked really hard, doing everything they were told to do and yet success eluded them.
Think of it this way, if you put to sea in a boat with holes in, what will happen, no matter how hard you paddle or rev the engine? So although ultimately we must accept that maybe we made choices that could have been different (responsibility) still if you know some things first, you can make better choices (enlightened action).
We can’t avoid risks in life. Although network marketing is low risk, too many people make the mistake of thinking it is risk free. One thing that contributes to that is that the start up cost in most companies is very low. But don’t forget you will have to make monthly product purchase in most cases.
Then you have a sponsor who is trying to get you in his deal and who tells you that it will cost you next to nothing; you are desperate to fire your boss and you are off on the wrong foot.
Sure it’s nothing like the cost involved in setting up a franchise business which could cost you many thousands of dollars. Traditional businesses usually cost a lot as well with offices, inventory etc. If you are one of the majority in the MLM industry for whom it will never be more than a part-time venture, then it won’t cost much either, but nor will you earn much. So let’s look at where the money can go. [click to continue…]
“Learn how anyone, (even internet dummies) can create “sick amounts of money” by turning $25 into a Mega Fortune!” Hmm, well maybe I’m an old fashioned guy but a website headline like that sure sets off warning bells for me. Is that the tone you would expect from a respectable and ethical company? This MLM [...]
There are several travel MLM companies out there just now. TVI Express is one that is under serious investigation. According to Rod Cook of MLM Watchdog.com, it is a seriously flawed business model which is nothing short of an illegal pyramid. OK so it’s not fair to tar all similar companies with the same brush, [...]
Most people struggle to grasp MLM compensation plans. When trying to analyse how much you will earn, trim away the extras – think residual: “How many active people buying product on a monthly basis do I need to earn 10K per month of walk away income?” Front end money is a great but that is not [...]
I get pitched all the time with deals to tempt me to jump in quick. Variations of these hit my inbox constantly: Get in during pre launch or you’ll miss out Unique compensation plan, 20,000 in your downline in 2 days and earn from them Get a position now Pre launch is one of the [...]
Tahitian Noni International has caused a stir with the apparent ditching of its flagship Noni Juice product. Look closer and you will see that in fact it is now called a Bioactive Beverage. It is still there but it now has the backing of science. So is this good? What makes a product good, effective [...]
We can’t avoid risks in life. Although network marketing is low risk, too many people make the mistake of thinking it is risk free. One thing that contributes to that is that the start up cost in most companies is very low. But don’t forget you will have to make monthly product purchase in most cases.
