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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.
The teacher in my karate class last night really captured my attention……are you wondering what is coming next?
They say stories sell – well maybe not quite but they catch people’s attention. We don’t see them as a sales pitch so we are listening to what follows. You know how it is when you are stuck for inspiration for an article or a video. You want something original and everyone else you read seems so good but nothing comes.
Marketing you and your business should fit naturally into your life. Less effort, more natural, more effective. So go to your life for inspiration: [click to continue…]
In my previous post we reached a point where your prospect realises he wants to make some changes and he asks you what you do. Try the magic words ‘which means’ to connect your business to one of your products or services:
“I am in the skin care business which means that we have this wonderful moisturizer that makes your skin look 20 years younger in only 45 seconds a day.”
You’re telling a story at the same time and you know how powerful stories are. Then he asks how much money he can make. Pick a figure that you feel matches your prospect’s desires.
Don’t suggest $10,000 a month to a guy who is only just earning enough to feed his kids – he won’t believe you. And if you are talking to a company CEO, maybe 10 thousand a month is just peanuts. [click to continue…]
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 big ones. “If you don’t get in now, you’ll miss out on the big bucks”. OK, so you can question the exact figures, but around 90% of new companies don’t make it past 2 years and most of the ones that do, collapse within 4 years. That’s scary yet pre launch opportunities are still hyped up as the best deal you can get into.
But you know what? Any business (MLM or traditional) takes a while to get established – I know from experience on both counts. [click to continue…]
I recently read an article suggesting that what drives most MLM companies is one of these — the compensation plan, the product range or the principles on which the company is founded. The author went on to say that he thought that the principles were the most important and said that he believed that in [...]
It is difficult to choose which Network Marketing company is best for you, especially as there are hundreds to look at. Nobody else can tell you what will work for you, but here are some points to think about when you are deciding which one to make your home. 1. Company management – do the [...]
The teacher in my karate class last night really captured my attention……are you wondering what is coming next?
