Over the three plus decades I've been in the MLM / Network Marketing profession, I've learned a few things. Mostly I learned them by making lots of mistakes, but a few I learned from other top income earners. In this article I'm going to share 5 of my favorites. These are not theoretical ideas, but rather things I've done to build several large and lucrative businesses, a couple from which I still earn very nice residual incomes.
The key to these MLM / Network Marketing success tips is that you can't just read them. You have to put them into action in your business. The Bible tells us that we need to be "doers of the word", which means that it's great to read about these five powerful business building tips, but until you become a "doer" nothing will happen. So, I encourage you to study these tips and think about how you can implement them into your business today, this week, this month.
Okay, here we go:
Tip #1: Treat Your Business Like a BIG Business
Treat your MLM / Network Marketing business like you invested a million dollars to get it started, rather than as a hobby you work when you have time and you will see much quicker and bigger success. If you invested in a McDonald's franchise, you would work 15 hours a day for years to recoup your initial investment. The problem with network marketing is that it doesn't require a big investment, so people don't treat it like a big business. Yet, the potential income in network marketing is much higher than with a McDonald's franchise. So, treat your network marketing business like a big business by investing the hours every week to build your network.
Tip #2: Set up a designated business area in your house.
If you can spare a bedroom, do it. If not, at least have a desk in the corner and partition it off for your office. This will help you in two ways. First, you will be able to deduct that area of your home on your taxes. Second, it will help you know when you are working and when you are not. If you have a family, make sure they understand that when you are in your office, you're working and are not to be disturbed except for an emergency. That way you will be able to focus without constant interruptions.
Tip #3: Introduce your business to at least one new person every day.
It could be someone you know (from your warm market list) or someone you meet. If you do this 6 days a week (take Sunday off) and 50 weeks (take 2 off for vacation), you will prospect 300 new people each year. With just a 10% closing ratio, you would add 30 new people to your team each year. Now, imagine if they all did the same. It's as easy as saying, "Say, would you be interested in making some extra money, if it didn't jeopardize what you are doing now?" OR "You seem like a sharp person, do you keep your eyes open for ways to make extra income outside of what you do now for a living?" The key is to find a question that works for you and ask someone new every day.
Tip #4: Do What Business Owners Do
When you join an MLM / Network Marketing company, you are in business, so do what every other business owner does - create a business entity (sole proprietorship, partnership, LLC, corporation) and get licensed in your state. Get an EIN (Employer Identification Number) from the IRS and then set up a separate bank account. All your MLM income and costs should flow through that account. This will keep you legit with the IRS and will give you the right business mindset to achieve success.
Tip #5: Find a coach.
Every athletic team has a coach and every top network marketer had/has a coach. The best coach is an upline leader who has already achieved success in your company. Ask them to devote time each week to coaching you. The key is to do what they say. They've been there, done that, got the t-shirts, so all you have to do is listen and follow. If you join my MLM Tip of the Day list and community on Facebook, you can be part of my exclusive Group Coaching program. Go to www.DailyMLMTips.com and subscribe to the free list or find the MLM Tip of the Day group on Facebook and join or do both.
There you go. Remember, it's one thing to just read through these 5 MLM / Network Marketing success tips and think about them and it's another thing to put them into action in your business. So, I hope you will study them and then become a doer!
Showing posts with label mlm. Show all posts
Showing posts with label mlm. Show all posts
Tuesday, September 24, 2013
Tuesday, July 30, 2013
Tuesday, July 23, 2013
Leads, Leads, Leads
In a recent query of my MLM Tip of the Day list (www.DailyMLMTips.com) I found that one of the biggest challenges network marketers are facing is finding people to sponsor into their business. Not a big shock, as during my 34 years in MLM, this has always been one of the biggest challenges. Now, unlike all the gurus out there, I don't claim to have all the answers or some magical system that produces an unending supply of leads. However, I can give you some time-proven, field-tested ideas that have worked for me and other top income earners. Here we go:
1. The best leads are always people you know, so start there. If you were opening a restaurant or a retail store, you would certainly tell all your family members and friends, wouldn't you? So, why wouldn't you want to tell them about your network marketing business? Particularly when it could completely transform their lives. You are really doing them a disservice by not giving them the opportunity to look and make their own, educated decision, about your business. AND, don't worry about what they are going to say or think, because what you are worrying about very, very rarely ever happens. You are just the messenger, so deliver the message and if they aren't interested, that's okay, move on.
2. The next best leads are people your friends and family know, so make sure you are always asking for referrals. Learn to ask, "who do you know that is highly motivated and would like to make very serious money in the coming years?" If they don't come up with anyone, you can push it a little, "Really, you don't know anyone who would like to make some big time money and save thousands on their annual taxes each year?" "How about some of your friends? Relatives? Business associates? People you go to church with?" If you push a little (not too much or they will get irritated), they will generally come up with someone. Then just ask them to introduce you by phone, text, or email, so you can contact them. If you keep asking the "who do you know" question, you will have a never ending supply of leads. AND that's the truth!
3. The third best leads are people you meet in your local community, so make sure you are always alert to good prospects. You are looking for people who are good workers, have a positive attitude, and relate with other people well. You can find them at restaurants, drive-through windows, banks, grocery stores, department stores, the post office or other shippers, copy centers, office products stores, cellular stores, computer stores, and anywhere else you go. All you have to do is compliment and ask: "You are an excellent worker, would you be open to earning money outside of what you are doing here, if it didn't jeopardize your job?" If "yes" get their name, email, and phone and promise to email info and call to answer questions.
I also encourage you to become a networker. Go to www.MeetUp.com and find meet-up groups in your local area that would be attended by the kind of people you would like to have in your business. If there aren't any, start one. Also, check the internet for lead exchange and networking groups in your local area. The Chamber of Commerce mixers are a great place to meet motivated business people who might want to diversify their income. Finally, look for local seminars, classes, conferences, and trade-shows where you could meet motivated business or salespeople.
4. The fourth best is to generate leads through social media. By posting on Facebook, Linked-In, Twitter, Instagram, and others, you can find people who are interested in starting a home business. The best way to do this is to post beneficial information that relates to a home business - articles about how many people are starting home businesses or about people who have had success in a home business. Also articles about the economy and the need for extra or retirement income. The more value you create, the more people will trust and respect you. When you see people like your posts, private message them to see if they might be interested in a solution (your home business).
5. The fifth best type of lead are those you purchase. You can purchase very highly qualified leads for $3 to $5 each, which might seem like a lot of money per lead, but if they become a solid customer or member of your team, they will be worth a lot more than that and could bring in others with them. I've successfully used this type of lead, but actually I prefer a less expensive lead that I can send into my automated qualification system, which will then produce more highly qualified leads which I can call. There are many lead vendors out there. My preference is MLMLeads.com, as they have great leads and excellent free training.
These are just my favorite 5 ways to generate leads and the methods I have used to build several large networks and a very nice full-time income since 1998. I hope that they will help you do the same. If you have questions, please feel free to contact me. I'm always looking to help other network marketers.
Rod Nichols, www.RodNichols.com
1. The best leads are always people you know, so start there. If you were opening a restaurant or a retail store, you would certainly tell all your family members and friends, wouldn't you? So, why wouldn't you want to tell them about your network marketing business? Particularly when it could completely transform their lives. You are really doing them a disservice by not giving them the opportunity to look and make their own, educated decision, about your business. AND, don't worry about what they are going to say or think, because what you are worrying about very, very rarely ever happens. You are just the messenger, so deliver the message and if they aren't interested, that's okay, move on.
2. The next best leads are people your friends and family know, so make sure you are always asking for referrals. Learn to ask, "who do you know that is highly motivated and would like to make very serious money in the coming years?" If they don't come up with anyone, you can push it a little, "Really, you don't know anyone who would like to make some big time money and save thousands on their annual taxes each year?" "How about some of your friends? Relatives? Business associates? People you go to church with?" If you push a little (not too much or they will get irritated), they will generally come up with someone. Then just ask them to introduce you by phone, text, or email, so you can contact them. If you keep asking the "who do you know" question, you will have a never ending supply of leads. AND that's the truth!
3. The third best leads are people you meet in your local community, so make sure you are always alert to good prospects. You are looking for people who are good workers, have a positive attitude, and relate with other people well. You can find them at restaurants, drive-through windows, banks, grocery stores, department stores, the post office or other shippers, copy centers, office products stores, cellular stores, computer stores, and anywhere else you go. All you have to do is compliment and ask: "You are an excellent worker, would you be open to earning money outside of what you are doing here, if it didn't jeopardize your job?" If "yes" get their name, email, and phone and promise to email info and call to answer questions.
I also encourage you to become a networker. Go to www.MeetUp.com and find meet-up groups in your local area that would be attended by the kind of people you would like to have in your business. If there aren't any, start one. Also, check the internet for lead exchange and networking groups in your local area. The Chamber of Commerce mixers are a great place to meet motivated business people who might want to diversify their income. Finally, look for local seminars, classes, conferences, and trade-shows where you could meet motivated business or salespeople.
4. The fourth best is to generate leads through social media. By posting on Facebook, Linked-In, Twitter, Instagram, and others, you can find people who are interested in starting a home business. The best way to do this is to post beneficial information that relates to a home business - articles about how many people are starting home businesses or about people who have had success in a home business. Also articles about the economy and the need for extra or retirement income. The more value you create, the more people will trust and respect you. When you see people like your posts, private message them to see if they might be interested in a solution (your home business).
5. The fifth best type of lead are those you purchase. You can purchase very highly qualified leads for $3 to $5 each, which might seem like a lot of money per lead, but if they become a solid customer or member of your team, they will be worth a lot more than that and could bring in others with them. I've successfully used this type of lead, but actually I prefer a less expensive lead that I can send into my automated qualification system, which will then produce more highly qualified leads which I can call. There are many lead vendors out there. My preference is MLMLeads.com, as they have great leads and excellent free training.
These are just my favorite 5 ways to generate leads and the methods I have used to build several large networks and a very nice full-time income since 1998. I hope that they will help you do the same. If you have questions, please feel free to contact me. I'm always looking to help other network marketers.
Rod Nichols, www.RodNichols.com
Thursday, June 20, 2013
A Remarkable Business
Patti was a single mother of six children living in a rural
town with a population of only 8,000 and had just lost $75,000 in her
traditional business. She had researched all kinds of traditional businesses
and franchises, but there seemed to be only one type of business that would
enable her to stay home with her children, quickly pay off the debt, and earn a
nice six-figure income within the next five years – network marketing.
Collette was a single mother of five children, of which two
were seriously ill and required regular medical attention. She was deeply in debt and could only work
part-time as a secretary. The medical
bills were piling up and the future looked very bleak. That was when she was introduced to a
fantastic home business by her brother.
At first Collette didn’t think she could be successful, because she had
never operated a business before and had no sales or marketing experience, but
this business was different. It seemed to be her answer from God – network
marketing.
What’s remarkable about network marketing?
The incredible, almost unbelievable stories and these are
just three of the thousands from the network marketing industry. It’s truly a
life altering business and how many other types of businesses can you say will
radically change your life? I certainly haven’t found any others. I mean
really, name me another type of business where a twenty-three year old carpet
installer with an injured shoulder and no money, or a seventy year old butcher,
could become millionaires within a few years. Network marketing is the only
answer.
Oh, here I am ranting and raving about how amazing network
marketing is and you’re probably wondering about Del
Well, Del
Network marketing is the most remarkable business I’ve ever
seen and since I’ve been a business consultant for many years and have
thoroughly researched thousands of businesses, that’s quite a statement. It’s
the only business I’ve ever seen that enables the average person, regardless of
age, gender, financial situation, past experience, education, knowledge, or
even language, to start a business with little to no money and in a few short
years are living the lifestyle of the rich and famous.
Can anyone be successful in network marketing?
Since my entry into the industry in 1979, I’ve had the good
fortune to interview hundreds of the top income earners and I can honestly say
that “YES” anyone can be successful in network marketing. Now, don’t stone me.
I didn’t say that everyone would be successful; I just said that everyone could
be successful, because I’ve seen people from all walks of life achieve high
levels of success in network marketing.
I don’t believe that
anything in this world is perfect, but network marketing is as close to the
perfect business as I think you will ever find. If you’re looking for a
business, you will find nothing better than network marketing – low start-up
investment, proven turn-key system, high quality products and services,
outstanding training and support, quick compensation, movable, unlimited growth,
no employees, very little overhead, can be operated from home either part- or
full-time, and produces long-term residual income, just to name a few reasons
why you should seriously investigate this truly remarkable business.
If you are currently in network marketing or were sometime
in the past and have never been successful, perhaps you picked the wrong
company, product/service, compensation plan, timing, or upline. Many people get
into the first network marketing company that comes along, without doing any
research or due diligence. Uncle Joe, who doesn’t have any money and has never
owned a business, shows you a network marketing company and it must be good,
right? I don’t think so. Not every company is right for every person. You’ve
got to find the right one for you.
However, once you find the right company, then there is just
one secret to success – WORK! I know, you were hoping for that get rich quick
deal – well get over it – they don’t exist. Network marketing is a real
business and it requires work – prospecting for people interested in your
products/services or business, presentations, answering questions and handling
objections, follow-up, sponsoring, training, and supporting. If you do these
things and treat it like a real business, in time, you will be successful.
Who knows, perhaps some day you will be like Del
Friday, April 26, 2013
Join the 3%
Watch this short video and learn why it's so important to move away from the 97% and join the 3%. I've spent over three decades studying success and business; the only way I've found for the average person to move from the 97% to the 3% is through network marketing. So, the first step is to join a good network marketing company. Then, it's to do what is necessary to succeed, so you can live the life of your dreams. As Jim Rohn says, it's also easy not to do those things, but that will result in you living a life as a 97%er. Your choice!
If you haven't found a good network marketing business and a mentor who really cares about you and your success, go to www.RodNichols.com and check me and my business out. I'd love to work with you to help you join the 3% and live the life of your dreams! - Rod Nichols
Friday, March 29, 2013
How to Keep Your Downline
As a veteran network marketer, top income earner, author, coach, and speaker, the most common question I hear and the biggest challenge faced by most network marketers is how to keep your downline. During my first 15 years in this great profession, this was a major challenge for me and my answer was always to sponsor more people. In one company I personally sponsored over 150 people and never earned a full-time income. It wasn't until I learned how to keep those I enrolled that I started making a big time income.
Here are the three things I do (and the other top income earners do) to keep my downline:
1. Help them earn money quickly - My first goal with a new member is to help them earn enough to cover their monthly product purchase. Next is to help them earn $500 above their product cost. At this point, they can't afford to leave. Finally, I want to help them earn enough to quit their job and enjoy true freedom. So, your first step is to work with an upline leader to figure out what a new person would have to do to earn their monthly product for free, make an extra $500 per month, and develop incomes of $50,000, $100,000, and $200,000.
2. Get them hooked on your products/services - This way at the very least, they will be a product/service user for life. First, is to make sure they have a personal experience. Second, provide them with information that shows why your product/service is unique, proprietary, patented, exclusive, and better than all the competitors. Third, help them introduce your products/services to their friends and family, so they can build an array of testimonials from people they know.
3. Recognize them - Most people go through life feeling underappreciated. You, as their sponsor and upline leader, have a chance to change that. Recognize them for the smallest of things - attending a meeting/conference call/webinar, making their list, setting up their company web site, going through the company training program, contacting their first person, setting up their first 3-way call, enrolling their first customer/member/distributor, achieving their first rank advancement, and so on. People will often do more for recognition, than they will for money, so recognize them often.
If you do these three things consistantly, you will retain a much higher percentage of your team. Don't get discouraged when some still quit. Remember that this business is only for those who are willing to do the work to succeed. If they aren't willing to do the work, there is nothing you can do for them. Wish them well, let them go, and focus on those who are putting out the effort. The result will be a solid and loyal team.
============================================================================
Rod Nichols has been involved in the network marketing profession since 1979 as a company founder/operator, distributor, coach, trainer, speaker, and author. Several of his books have been industry best sellers and he has trained tens of thousands of people on how to be successful in network marketing. Recently he was featured in Better Networker's The Definitive Guide to Home Business Success - http://jvz6.com/c/79637/23465. He is also the publisher of The MLM Tip of the Day - www.DailyMLMTips.com. For more information about Rod, go to www.RodNichols.com.
Here are the three things I do (and the other top income earners do) to keep my downline:
1. Help them earn money quickly - My first goal with a new member is to help them earn enough to cover their monthly product purchase. Next is to help them earn $500 above their product cost. At this point, they can't afford to leave. Finally, I want to help them earn enough to quit their job and enjoy true freedom. So, your first step is to work with an upline leader to figure out what a new person would have to do to earn their monthly product for free, make an extra $500 per month, and develop incomes of $50,000, $100,000, and $200,000.
2. Get them hooked on your products/services - This way at the very least, they will be a product/service user for life. First, is to make sure they have a personal experience. Second, provide them with information that shows why your product/service is unique, proprietary, patented, exclusive, and better than all the competitors. Third, help them introduce your products/services to their friends and family, so they can build an array of testimonials from people they know.
3. Recognize them - Most people go through life feeling underappreciated. You, as their sponsor and upline leader, have a chance to change that. Recognize them for the smallest of things - attending a meeting/conference call/webinar, making their list, setting up their company web site, going through the company training program, contacting their first person, setting up their first 3-way call, enrolling their first customer/member/distributor, achieving their first rank advancement, and so on. People will often do more for recognition, than they will for money, so recognize them often.
If you do these three things consistantly, you will retain a much higher percentage of your team. Don't get discouraged when some still quit. Remember that this business is only for those who are willing to do the work to succeed. If they aren't willing to do the work, there is nothing you can do for them. Wish them well, let them go, and focus on those who are putting out the effort. The result will be a solid and loyal team.
============================================================================
Rod Nichols has been involved in the network marketing profession since 1979 as a company founder/operator, distributor, coach, trainer, speaker, and author. Several of his books have been industry best sellers and he has trained tens of thousands of people on how to be successful in network marketing. Recently he was featured in Better Networker's The Definitive Guide to Home Business Success - http://jvz6.com/c/79637/23465. He is also the publisher of The MLM Tip of the Day - www.DailyMLMTips.com. For more information about Rod, go to www.RodNichols.com.
Tuesday, January 22, 2013
MLM & the Top 50 Article Directories by Rod Nichols
A great way to build your network marketing / MLM business is to become an expert. Normally, to become an expert, you would have to invest years into your craft, but today, because of the magnitude of the internet, you can become an expert within a couple months. Here are 2 steps that will help establish you as an expert in network marketing / MLM:
1. Write 10 articles about network marketing and include an offer for free information by linking to your web page.
2. Submit these 10 articles individually to the top 50 article directories:
1. Write 10 articles about network marketing and include an offer for free information by linking to your web page.
2. Submit these 10 articles individually to the top 50 article directories:
Thursday, January 26, 2012
Coach Your Leaders
I was introduced to network marketing/multi-level marketing in 1979 and for the first 10 years I was a miserable failure. I did just about everything that a person could do wrong and very few of the right things. One of the reasons for this was that I didn't receive any coaching. I was always sponsored by a friend or someone who didn't know any more about succeeding in network marketing than I did. I didn't achieve any success until I started receiving regular coaching from successful upline mentors.
Now that I am a successful upline mentor, I intentionally reach out to my leaders (even those I haven't personally sponsored) and offer regular coaching calls or meetings. I don't want them to have to suffer for 10 years, like I did. Instead, I want them to see a high level of success within the first 2 years and the only way that can happen is if they have someone to guide them through the MLM minefields that deter most people.
During these weekly or every other week coaching calls, I help them uncover their compelling why, set goals, create a plan to reach those goals, and a weekly schedule that will keep them committed to their business. In the following calls, I hold them accountable to the activities they have scheduled and to the achievement of their goals within the set time lines. We also talk about their contacts during the preceding week and I coach them on how to handle situations, objections, questions, or anything else that becomes a barrier to the person enrolling. I strive to help my downline members become better with each new contact.
I also use these coaching times to build relationship. I want to know about the rest of their life - where they work, what they do, family, friends, hobbies, successes and struggles. I keep notes on my leaders, so I can remember to ask them about things that are going on. I care and want them to know that they are not just a cog in the machine or a number in the system. They are important to me and I want them to not only be successful in their business, but also in their lives. Sometimes I even do some coaching on marriages, relationships, health issues, mental struggles, and more. I'm looking to build whole, healthy people, not just successful downline members.
Eventually, these leaders, or up and coming leaders, will outgrow me and go on to coach their own leaders. The cycle repeats down throughout the team, creating a network of loyal, highly trained members who are enjoying success in their businesses and life. This is how you build a strong organization and life-long residual income.
I started this coaching system back in 1995 and built an organization into the thousands that is still intact today, even though I retired from that business in 2001. Consequently, I still earn a significant annual residual income from that business. I am now replicating that system with a new company and in just 2 years have already built a solid network of over 3,000 members and a six figure income and I'm nothing special. I'm basically introverted and don't sponsor a lot of people. I'm just good at building leaders and now that you have my strategy, you can too!
====================================================================================
Rod Nichols has been involved in the network marketing/MLM industry since 1979 as a company founder/owner, consultant, trainer, coach, mentor, distributor, and author. He has been a top leader and built large networks with three MLM businesses and earns a full-time residual income from two of those and is a top income earner in his current company. He is also the industry best-selling author of Successful Network Marketing for the 21st Century, Would You Like to Dig in My Goldmine?, The Ideal Business, and The Twelve Power Secrets for Network Marketing Success. Rod is known as a nuts and bolts trainer and has trained over 10,000 people in the MLM profession. For more information about Rod, visit his web site at www.RodNichols.com or e-mail at Rod@RodNichols.com
Now that I am a successful upline mentor, I intentionally reach out to my leaders (even those I haven't personally sponsored) and offer regular coaching calls or meetings. I don't want them to have to suffer for 10 years, like I did. Instead, I want them to see a high level of success within the first 2 years and the only way that can happen is if they have someone to guide them through the MLM minefields that deter most people.
During these weekly or every other week coaching calls, I help them uncover their compelling why, set goals, create a plan to reach those goals, and a weekly schedule that will keep them committed to their business. In the following calls, I hold them accountable to the activities they have scheduled and to the achievement of their goals within the set time lines. We also talk about their contacts during the preceding week and I coach them on how to handle situations, objections, questions, or anything else that becomes a barrier to the person enrolling. I strive to help my downline members become better with each new contact.
I also use these coaching times to build relationship. I want to know about the rest of their life - where they work, what they do, family, friends, hobbies, successes and struggles. I keep notes on my leaders, so I can remember to ask them about things that are going on. I care and want them to know that they are not just a cog in the machine or a number in the system. They are important to me and I want them to not only be successful in their business, but also in their lives. Sometimes I even do some coaching on marriages, relationships, health issues, mental struggles, and more. I'm looking to build whole, healthy people, not just successful downline members.
Eventually, these leaders, or up and coming leaders, will outgrow me and go on to coach their own leaders. The cycle repeats down throughout the team, creating a network of loyal, highly trained members who are enjoying success in their businesses and life. This is how you build a strong organization and life-long residual income.
I started this coaching system back in 1995 and built an organization into the thousands that is still intact today, even though I retired from that business in 2001. Consequently, I still earn a significant annual residual income from that business. I am now replicating that system with a new company and in just 2 years have already built a solid network of over 3,000 members and a six figure income and I'm nothing special. I'm basically introverted and don't sponsor a lot of people. I'm just good at building leaders and now that you have my strategy, you can too!
====================================================================================
Rod Nichols has been involved in the network marketing/MLM industry since 1979 as a company founder/owner, consultant, trainer, coach, mentor, distributor, and author. He has been a top leader and built large networks with three MLM businesses and earns a full-time residual income from two of those and is a top income earner in his current company. He is also the industry best-selling author of Successful Network Marketing for the 21st Century, Would You Like to Dig in My Goldmine?, The Ideal Business, and The Twelve Power Secrets for Network Marketing Success. Rod is known as a nuts and bolts trainer and has trained over 10,000 people in the MLM profession. For more information about Rod, visit his web site at www.RodNichols.com or e-mail at Rod@RodNichols.com
Tuesday, December 6, 2011
There's Power in the 3-Way
In my 31 years of network marketing, I've had the opportunity to work with and interview hundreds of the industries top leaders. I too am one of those top leaders, having built two large networks with large full-time residual incomes. We have all built our businesses at different paces and using different methods. However, the one thing I know that we have all used to build our businesses is the 3-way call.
The unfortunate fact, is that even though 3 way calls is one of the keys to the success of most top leaders, distributors are not doing 3-way calls. In a recent meeting of approximately 50 distributors, I asked how many were doing weekly 3-way calls with upline or downline and only one person put up his hand. I also know from talking with other leaders that their downlines are effectively using this amazing business-building tool.
If the 3-way call is so important, why don't more distributors do them? I believe it is because they are afraid the prospect will feel "ganged up on" and will be offended. Since many of these calls are to friends and family members, this feeling overrides the potential for success. The distributor would rather have the call fail, than to do a 3-way call with the upline.
Personally, I think that distributors are getting the wrong impression about 3-way calls, because we (upline) are not explaining the methodology and benefits properly. So, here goes.
First, let's talk about the best way to make a 3-way call. Now, for my disclaimer. I am not saying that this is the absolute and only way to make a 3-way call. If your upline has a standard way of doing calls, than that's the way to go. If not, give this a try:
If you are making 3-way calls with your upline, the reason you have your upline on the phone is not to hammer on the prospect or as the heavy closer, but rather so between the two of you the prospect can get all of his/her questions answered. Also, so that your company can be presented in the best possible way and your prospect can make an educated decision.
Here's how the call might go:
The distributor calls upline and discusses the call prior to the appointed time. Distributor puts upline on hold by depressing the "flash" or "conference" button on their phone.The distributor should get a couple quick tones and then a regular dial tone or the opportunity to dial the next number on a cell phone, at which point he/she can dial the prospects number. When it starts ringing, press the flash key or hook button again to re-connect the upline or on a cell phone, let it connect and then join the calls. Here is the dialog when the prospect answers:
Distributor: John, hi this is Rod. I'm calling to follow-up on that information that I (sent/dropped off to) you. I have on the phone with me one of my business partners, Steve has been very successful in this business and is a really great guy. I've got Steve on the phone because I'm relatively new and I thought you would have some great questions that I couldn't answer. John this is (upline).
At this point the upline will take over the call and your job is to listen, take notes, and learn. Here is what the upline might say:
Upline: Hi John. How are you this evening? Are we catching you at a good time? Great! We appreciate you taking the time to talk with us. First I want you to know that I am strictly here to answer questions, fill in the gaps, and help provide the information you need to make a good decision. This is a very important decision and our job is to provide you with sufficient information to make an educated decision. The one favor I need to ask you is that you not say yes or no until you have received enough information to thoroughly research this business and make a good decision. Will you do that for us? Thanks! Now, did you get some time to review the information that Bob sent you?
From here the upline is going to handle the call as he/she feels fit, but it will be a very comfortable call for all involved.
Now, if you are doing the calls with your downline, you should follow the script for the upline, which will help make them more comfortable with the calls.
We recommend that every new distributor do at least thirty 3-way calls before they start talking with people on their own or doing 3-ways with their downline. After thirty calls the distributor will have heard all the main objections and questions, plus the answers. The best way to do these thirty calls is to have the upline do all of the call on the first 10. During the second 10, the distributor should do the first part of the call with the upline handling objections or answering questions. The new distributor should do all of the calls on the third 10 with the upline on for back-up.
Following you will find examples of how the 2nd and 3rd sets of calls might go.
2nd Set of 3-Way Calls:
Distributor: John, hi this is Rod. I'm calling to follow-up on that information that I (sent/dropped off to) you. I have on the phone with me one of my business partners (upline's name), who is here because I am relatively new and I thought you would have some great questions that I couldn't answer. John this is (upline). (upline and prospect say hi, then you continue) John, first off, is this a good time to talk? (If yes, continue) Did you have a chance to review the information? (If yes, continue) (If no, set a time to call again) Excellent! What did you (see/hear) that you liked best or grabbed your attention? (reinforce what they liked and keep asking for more until they run out)
Seems like you had a few things that you liked about our program. So, what questions can we answer? (upline will now help with answers)
3rd Set of 3-Way Calls:
Use the same script as in the 2nd set, except that the distributor will answer questions and call in the upline only when he/she gets stuck.
3-way calls are not only effective for quick and efficient sponsoring, but it is also a great training tool. A new distributor will learn much more by listening in on some calls then by you telling them what to do.
Now for the benefits of 3-way calls:
Distributor - fewer negative calls, better closing ratios, build network quicker.
Upline - opportunity to train, help new distributor get checks quicker, build own network.
Prospect - opportunity to hear different perspectives on the business, get all questions answered, make a good decision.
3-way calls are a win-win-win opportunity and a critical part of every success story in network marketing, so if you aren't already a leader in your company, start doing 3-way calls with your upline and if you are a leader, start doing 3-way calls with your downline. Either way, if you do this, you will see your network grow and your checks skyrocket!
The unfortunate fact, is that even though 3 way calls is one of the keys to the success of most top leaders, distributors are not doing 3-way calls. In a recent meeting of approximately 50 distributors, I asked how many were doing weekly 3-way calls with upline or downline and only one person put up his hand. I also know from talking with other leaders that their downlines are effectively using this amazing business-building tool.
If the 3-way call is so important, why don't more distributors do them? I believe it is because they are afraid the prospect will feel "ganged up on" and will be offended. Since many of these calls are to friends and family members, this feeling overrides the potential for success. The distributor would rather have the call fail, than to do a 3-way call with the upline.
Personally, I think that distributors are getting the wrong impression about 3-way calls, because we (upline) are not explaining the methodology and benefits properly. So, here goes.
First, let's talk about the best way to make a 3-way call. Now, for my disclaimer. I am not saying that this is the absolute and only way to make a 3-way call. If your upline has a standard way of doing calls, than that's the way to go. If not, give this a try:
If you are making 3-way calls with your upline, the reason you have your upline on the phone is not to hammer on the prospect or as the heavy closer, but rather so between the two of you the prospect can get all of his/her questions answered. Also, so that your company can be presented in the best possible way and your prospect can make an educated decision.
Here's how the call might go:
The distributor calls upline and discusses the call prior to the appointed time. Distributor puts upline on hold by depressing the "flash" or "conference" button on their phone.The distributor should get a couple quick tones and then a regular dial tone or the opportunity to dial the next number on a cell phone, at which point he/she can dial the prospects number. When it starts ringing, press the flash key or hook button again to re-connect the upline or on a cell phone, let it connect and then join the calls. Here is the dialog when the prospect answers:
Distributor: John, hi this is Rod. I'm calling to follow-up on that information that I (sent/dropped off to) you. I have on the phone with me one of my business partners, Steve has been very successful in this business and is a really great guy. I've got Steve on the phone because I'm relatively new and I thought you would have some great questions that I couldn't answer. John this is (upline).
At this point the upline will take over the call and your job is to listen, take notes, and learn. Here is what the upline might say:
Upline: Hi John. How are you this evening? Are we catching you at a good time? Great! We appreciate you taking the time to talk with us. First I want you to know that I am strictly here to answer questions, fill in the gaps, and help provide the information you need to make a good decision. This is a very important decision and our job is to provide you with sufficient information to make an educated decision. The one favor I need to ask you is that you not say yes or no until you have received enough information to thoroughly research this business and make a good decision. Will you do that for us? Thanks! Now, did you get some time to review the information that Bob sent you?
From here the upline is going to handle the call as he/she feels fit, but it will be a very comfortable call for all involved.
Now, if you are doing the calls with your downline, you should follow the script for the upline, which will help make them more comfortable with the calls.
We recommend that every new distributor do at least thirty 3-way calls before they start talking with people on their own or doing 3-ways with their downline. After thirty calls the distributor will have heard all the main objections and questions, plus the answers. The best way to do these thirty calls is to have the upline do all of the call on the first 10. During the second 10, the distributor should do the first part of the call with the upline handling objections or answering questions. The new distributor should do all of the calls on the third 10 with the upline on for back-up.
Following you will find examples of how the 2nd and 3rd sets of calls might go.
2nd Set of 3-Way Calls:
Distributor: John, hi this is Rod. I'm calling to follow-up on that information that I (sent/dropped off to) you. I have on the phone with me one of my business partners (upline's name), who is here because I am relatively new and I thought you would have some great questions that I couldn't answer. John this is (upline). (upline and prospect say hi, then you continue) John, first off, is this a good time to talk? (If yes, continue) Did you have a chance to review the information? (If yes, continue) (If no, set a time to call again) Excellent! What did you (see/hear) that you liked best or grabbed your attention? (reinforce what they liked and keep asking for more until they run out)
Seems like you had a few things that you liked about our program. So, what questions can we answer? (upline will now help with answers)
3rd Set of 3-Way Calls:
Use the same script as in the 2nd set, except that the distributor will answer questions and call in the upline only when he/she gets stuck.
3-way calls are not only effective for quick and efficient sponsoring, but it is also a great training tool. A new distributor will learn much more by listening in on some calls then by you telling them what to do.
Now for the benefits of 3-way calls:
Distributor - fewer negative calls, better closing ratios, build network quicker.
Upline - opportunity to train, help new distributor get checks quicker, build own network.
Prospect - opportunity to hear different perspectives on the business, get all questions answered, make a good decision.
3-way calls are a win-win-win opportunity and a critical part of every success story in network marketing, so if you aren't already a leader in your company, start doing 3-way calls with your upline and if you are a leader, start doing 3-way calls with your downline. Either way, if you do this, you will see your network grow and your checks skyrocket!
Wednesday, January 6, 2010
Tuesday, September 15, 2009
How to Convert Leads in a Funded Business Proposal
The whole idea of a funded business system is to generate leads for your network marketing business. Each person who fills out the contact information on your capture page is a potential lead. In the following training, you will learn how to contact, qualify, and convert those people.
Those who complete your contact form will fall into three categories:
1. Looking for a network marketing business.
2. Already with a network marketing company, but not happy.
3. Already with a network marketing company and happy.
Categories 1 and 2 are great prospects for your network marketing company right now. Category 3 may take some time, but odds are that if you do a good job of relationship building, they will join you within a year.
Here are some methods of approaching these people and building relationships.
Phone:
When a person fills out the contact form on your capture page, you will receive it by e-mail. The information includes their name, e-mail address, and phone number. The best way to begin the lead conversion process is to call them.
When you call, introduce yourself, remind them of the site they visited, and find out if they are already in a network marketing company or not. If they are, find out if they’re completely happy. If they are looking for not happy with their current company, you’ve got a prospect for your network marketing business. Ask if you can provide information and then do a good job of following-up (see below).
Make sure that you take good notes during the phone calls, so that as you follow-up, you can show them how much you care, by remembering things about their lives. People don’t care how much you know, until they know how much you care about them. Remembering details shows them that you are paying attention and care.
E-Mail:
If you are either not comfortable on the phone or you don’t have the time to do it, you can follow-up by e-mail, however you drop the odds of success quite a few percentages this way. E-mails have a way of disappearing or being filtered and it’s much easier to ignore an e-mail than a person on the phone. So, if you are serious about success in network marketing, you should work through the fear of the telephone or re-arrange your schedule so you have dedicated phone time for your business. However, if you’re not ready to do either of those, here are some ideas for creating an e-mail message.
First, keep the message short. Mention the site they visited and then ask if they are looking for a network marketing company or already with one. Don’t try to sell them on anything in this message. If they don’t respond, e-mail them again. I e-mail 3 times without response before I move on.
Follow-Up:
Ineffective follow-up is one of the primary reasons why people don’t succeed in network marketing. Quite often you will have a prospect who seems interested, so you provide them with some information, but they don’t return your calls or e-mails, so you assume that they aren’t interested. In most cases that is a bad assumption, because in most cases, when you speak with them, they’ll show a high level of interest. So, the key is effective follow-up.
You will have over a third of the people who fill out your contact form who will already be with a company, so this step is critical in bringing them into your company sometime in the near future.
You can purchase database software like ACT! or you can develop something in Excel or use the contact management portion of Outlook, or you can use a professionally designed system like Oprius. Which is my preference. Click HERE for information and a free trial.
However you do it is fine, but make sure you have an effective database in which you can store pertinent information about prospects and then easily find that information at a later date. It’s great if the system also reminds you to follow-up.
Once you have a database, the next step is to develop a series of e-mails that you either manually send or use an autoresponder service like Get Response. You’ll want to mix some phone calls in with the e-mails, with the purpose of building relationship. In your e-mails and calls you can recommend free (and paid) resources, social networks, articles, blogs, etc. This will help you show that you care about the person and not just getting them into your business (even though that is also your intention). People will join you because they trust and respect you. Also, because you can offer them a marketing system that will help them build a successful business.
If you do a good job with all of this, you’ll add new people to your network marketing business every month.
*Note: If you don't have a funded business proposal system, I highly recommend Magnetic Sponsoring.
Those who complete your contact form will fall into three categories:
1. Looking for a network marketing business.
2. Already with a network marketing company, but not happy.
3. Already with a network marketing company and happy.
Categories 1 and 2 are great prospects for your network marketing company right now. Category 3 may take some time, but odds are that if you do a good job of relationship building, they will join you within a year.
Here are some methods of approaching these people and building relationships.
Phone:
When a person fills out the contact form on your capture page, you will receive it by e-mail. The information includes their name, e-mail address, and phone number. The best way to begin the lead conversion process is to call them.
When you call, introduce yourself, remind them of the site they visited, and find out if they are already in a network marketing company or not. If they are, find out if they’re completely happy. If they are looking for not happy with their current company, you’ve got a prospect for your network marketing business. Ask if you can provide information and then do a good job of following-up (see below).
Make sure that you take good notes during the phone calls, so that as you follow-up, you can show them how much you care, by remembering things about their lives. People don’t care how much you know, until they know how much you care about them. Remembering details shows them that you are paying attention and care.
E-Mail:
If you are either not comfortable on the phone or you don’t have the time to do it, you can follow-up by e-mail, however you drop the odds of success quite a few percentages this way. E-mails have a way of disappearing or being filtered and it’s much easier to ignore an e-mail than a person on the phone. So, if you are serious about success in network marketing, you should work through the fear of the telephone or re-arrange your schedule so you have dedicated phone time for your business. However, if you’re not ready to do either of those, here are some ideas for creating an e-mail message.
First, keep the message short. Mention the site they visited and then ask if they are looking for a network marketing company or already with one. Don’t try to sell them on anything in this message. If they don’t respond, e-mail them again. I e-mail 3 times without response before I move on.
Follow-Up:
Ineffective follow-up is one of the primary reasons why people don’t succeed in network marketing. Quite often you will have a prospect who seems interested, so you provide them with some information, but they don’t return your calls or e-mails, so you assume that they aren’t interested. In most cases that is a bad assumption, because in most cases, when you speak with them, they’ll show a high level of interest. So, the key is effective follow-up.
You will have over a third of the people who fill out your contact form who will already be with a company, so this step is critical in bringing them into your company sometime in the near future.
You can purchase database software like ACT! or you can develop something in Excel or use the contact management portion of Outlook, or you can use a professionally designed system like Oprius. Which is my preference. Click HERE for information and a free trial.
However you do it is fine, but make sure you have an effective database in which you can store pertinent information about prospects and then easily find that information at a later date. It’s great if the system also reminds you to follow-up.
Once you have a database, the next step is to develop a series of e-mails that you either manually send or use an autoresponder service like Get Response. You’ll want to mix some phone calls in with the e-mails, with the purpose of building relationship. In your e-mails and calls you can recommend free (and paid) resources, social networks, articles, blogs, etc. This will help you show that you care about the person and not just getting them into your business (even though that is also your intention). People will join you because they trust and respect you. Also, because you can offer them a marketing system that will help them build a successful business.
If you do a good job with all of this, you’ll add new people to your network marketing business every month.
*Note: If you don't have a funded business proposal system, I highly recommend Magnetic Sponsoring.
Saturday, August 22, 2009
Better Networker
If you are a serious network marketer, then you need to know about the #1 Social Community for Network Marketers. It's called BetterNetworker and it was created by internet marketing genius and founder of Magnetic Sponsoring, Mike Dillard.
This is like Facebook, but instead of just a bunch of people telling you about washing their cat or painting their nails, you're hearing from top home business people on how to build a home based network marketing business. I'm one of many instructors who are placing valuable articles on there and the best part is it's FREE!!! Plus, you can generate some great business for your own home based network marketing business.
Although content changes quickly, here are a few article titles on the site right now:
Is Network Marketing/MLM for you?
The Wizard of Oz in Network Marketing
Yoli is the Real Deal
MLM Duplication Methods. . .an easy approach to downline building
Better Business Bureau Investigates iJango
How to Spot an MLM Scam Before you Put Your Heart into It
Sponsor More with this "Jedi Mind Trick"
Here are some great discussions that are active on BetterNetworker:
How do you Recognize a Scam?
How to Market in a Tired Market
Debate MLM: Services vs Vitamins vs Home Products
You can get involved in any of these discussions or post your own!!!
Go to BetterNetworker.com and set up your profile, start reading the thousands of articles, write some of your own and establish yourself as an authority, and get involved in some discussions.
This is like Facebook, but instead of just a bunch of people telling you about washing their cat or painting their nails, you're hearing from top home business people on how to build a home based network marketing business. I'm one of many instructors who are placing valuable articles on there and the best part is it's FREE!!! Plus, you can generate some great business for your own home based network marketing business.
Although content changes quickly, here are a few article titles on the site right now:
Is Network Marketing/MLM for you?
The Wizard of Oz in Network Marketing
Yoli is the Real Deal
MLM Duplication Methods. . .an easy approach to downline building
Better Business Bureau Investigates iJango
How to Spot an MLM Scam Before you Put Your Heart into It
Sponsor More with this "Jedi Mind Trick"
Here are some great discussions that are active on BetterNetworker:
How do you Recognize a Scam?
How to Market in a Tired Market
Debate MLM: Services vs Vitamins vs Home Products
You can get involved in any of these discussions or post your own!!!
Go to BetterNetworker.com and set up your profile, start reading the thousands of articles, write some of your own and establish yourself as an authority, and get involved in some discussions.
Thursday, August 20, 2009
Wizard of Oz in Network Marketing
Having been in the network marketing industry since 1979, I've seen thousands of companies come and go. Some of them hit it big and others fizzle after just a few months to a few years. During that time I've learned some red flags to watch out for and also some keys to look for in a company that is going to succeed and I'll cover those a little later in this article.
Unfortunately the industry is filled with what I call Wizard of Oz companies. If you remember in the movie, Dorothy, Toto and the crew arrive at the Emerald Palace and they are going to finally get in to see the Wizard. However, they are met with fire, smoke, and a big scary face with a booming voice. That is until little Toto pulls the curtain away from the man running the machine. The voice says, "don't mind that man behind the curtain" and that's the way so many network marketing companies are. They are exciting looking on the outside, but don't want you pulling the curtain to see what's really going on.
You can quickly recognize these Wizard of Oz companies as they've got big name business people (from other industries) or athletes out front, there's lot's of hype about making big money without having to work very hard, there's glitz and glitter and smoke and mirrors, but if you invest the time to check out the company from the inside out, you'll find there isn't any substance. There's nothing but a little bitty man behind the curtain.
The difficult part for me is watching so many people get sucked into these companies only to be disappointed and then conclude that network marketing doesn't work. I've done this for 30 years and I've seen tens of thousands of people, from all walks of life, succeed in network marketing. It works and it can work for you. The first and possibly most important key is to find the right company for YOU.
Here are some red flags to watch out for and some keys to identifying a solid company that has long-term potential:
Red Flag #1: Big Name People
If the company is flaunting big name business people, millionaires/billionaires, TV pitchmen, or top athletes, then beware. It's okay to have these people giving testimonials (if they are involved with the company or using the product/service), however many of them are paid spokespeople who couldn't care less about the company, product, or your success, as long as they get paid. I've seen many a network marketing that was using the familiarity of a big name to bring people to their company and it works. The problem is that they typically don't have anything of substance to deliver or they wouldn't have to resort to the big name person.
Key #1: Management Team
One of the biggest keys I've found to identifying a solid company is a solid management team. Forget about the big name people; instead look for management that has successful experience running big companies - managing offices and employees, handling payroll, accounting, etc. Also, look for the team that has network marketing experience, preferably as a successful distributor. That way they will understand what we distributors go through to build a business and will make decisions that help us. Make sure the President or CEO is a dynamic leader that people are going to follow and who also has his/her ego in check. Finally, the management team should have a solid money guy; someone who has vast experience handling financial decisions and systems. It's a big plus if the management team or founders have self-funded the company. That means they are fully committed and are not going to give up easily.
Red Flag #2: Big Money Focus
If a company is only talking about making big money, run away as fast as you can. If you ask people involved with the company about their products or service and they quickly change the subject back to money, run, run away. They are using big money claims to lure you into a business that has no substance and won't last. It might even be a pyramid scheme or at least construed as such by the government regulators. The owners of these companies are just hoping to hang on long enough to make a bunch of money and then get out of Dodge. It's sad, but true; there are many wolves in the network marketing industry who are just waiting to devoir your hard earned money. So be wise when choosing a network marketing company. Don't believe everything you see, hear, or read, check it out. Do your due diligence and make an informed decision.
Key #2: Solid Product or Service
It's okay to share the possibility of making big money, but if a network marketing company is going to last long-term, it must market a solid product or service - something that people would readily buy without being involved with the business. For best results this should either be a consumable product or a renewable service. This will require less selling and since about 98% of the people out there hate to sell, you want a product or a service that people want to buy automatically every month, which brings me to autoship. If the company doesn't offer an autohip program for their product or an automatic subscription to their service, it won't work and you won't make money. Next, the product should be in high demand both now and far into the future. Who in their right mind would market buggy whips in the automobile era and yet many network marketing companies are offering old, obsolete products and services. Finally, the product or service should be something you enjoy, would buy even if you weren't in the business, and can get excited enough about to tell other people. It's a big bonus if the product is unique, patented, or exclusive to that company.
Red Flag #3: We Will Build it For You
I'm appalled at the number of internet and magazine ads I see that claim all you have to do is join and they will build the business for you. No recruiting. No presentations. No talking with your friends or family. No calling leads. No home meetings. Just join and use their proven system and you're going to make BIG MONEY! That's a load of garbage and you should run away quickly. Anything that sounds to good to be true usually is. Network marketing is a business and businesses require financial and time investments. Contrary to all those ads, you are going to have to talk with people, but the good news is that if you have a good company with a product/service you are excited about, you won't be able to stop talking with people. Also, this is a recruiting business and if someone is saying that you will never have to recruit anyone, they are LYING!!! I've been in this industry for 30 years and if there was a legitimate way to build a business without talking to people and recruiting anyone, I would know about it. Oh, there are the list builders and the programs where people can join for free, but no one makes money in those, so don't waste your time.
Key #3: Find a Good Upline Team
No one is going to build your network marketing business for you. They may be willing to put some people under you (in a binary or matrix plan), but you are still going to have to talk with people and recruit. The key here is to find a good upline team that will train and support you. They should offer internet based training via a team web site, e-mail messages, webinars and teleconferences, and even live meetings. This is something I've done for my teams for years and it works. It provides the training, tools, and resources necessary for anyone to succeed. Now, not everyone will, because some will not be willing to do the work, but they won't be able to say they failed due to poor training and support. You should also have upline leaders who are willing to send e-mail messages to or do 3-way calls with your business candidates. They should also offer personal one-on-one coaching or mentoring. Check their motives to see if they are only looking at what's in it for them or if they do sincerely seem interested in your success and are willing to devote the time to help you. A good company and product/service are important, but sometimes a good upline team is even more important.
So, there you go, three red flags to watch out for and 3 keys to success. Find a solid company with an excellent management team, a product/service that is in high demand and about which you can get excited, and a solid upline team that will help you accomplish your goals. When you find those keys and it feels right in your gut, jump in with both feet, put the blinders on and build like crazy. You'll love the results!
Unfortunately the industry is filled with what I call Wizard of Oz companies. If you remember in the movie, Dorothy, Toto and the crew arrive at the Emerald Palace and they are going to finally get in to see the Wizard. However, they are met with fire, smoke, and a big scary face with a booming voice. That is until little Toto pulls the curtain away from the man running the machine. The voice says, "don't mind that man behind the curtain" and that's the way so many network marketing companies are. They are exciting looking on the outside, but don't want you pulling the curtain to see what's really going on.
You can quickly recognize these Wizard of Oz companies as they've got big name business people (from other industries) or athletes out front, there's lot's of hype about making big money without having to work very hard, there's glitz and glitter and smoke and mirrors, but if you invest the time to check out the company from the inside out, you'll find there isn't any substance. There's nothing but a little bitty man behind the curtain.
The difficult part for me is watching so many people get sucked into these companies only to be disappointed and then conclude that network marketing doesn't work. I've done this for 30 years and I've seen tens of thousands of people, from all walks of life, succeed in network marketing. It works and it can work for you. The first and possibly most important key is to find the right company for YOU.
Here are some red flags to watch out for and some keys to identifying a solid company that has long-term potential:
Red Flag #1: Big Name People
If the company is flaunting big name business people, millionaires/billionaires, TV pitchmen, or top athletes, then beware. It's okay to have these people giving testimonials (if they are involved with the company or using the product/service), however many of them are paid spokespeople who couldn't care less about the company, product, or your success, as long as they get paid. I've seen many a network marketing that was using the familiarity of a big name to bring people to their company and it works. The problem is that they typically don't have anything of substance to deliver or they wouldn't have to resort to the big name person.
Key #1: Management Team
One of the biggest keys I've found to identifying a solid company is a solid management team. Forget about the big name people; instead look for management that has successful experience running big companies - managing offices and employees, handling payroll, accounting, etc. Also, look for the team that has network marketing experience, preferably as a successful distributor. That way they will understand what we distributors go through to build a business and will make decisions that help us. Make sure the President or CEO is a dynamic leader that people are going to follow and who also has his/her ego in check. Finally, the management team should have a solid money guy; someone who has vast experience handling financial decisions and systems. It's a big plus if the management team or founders have self-funded the company. That means they are fully committed and are not going to give up easily.
Red Flag #2: Big Money Focus
If a company is only talking about making big money, run away as fast as you can. If you ask people involved with the company about their products or service and they quickly change the subject back to money, run, run away. They are using big money claims to lure you into a business that has no substance and won't last. It might even be a pyramid scheme or at least construed as such by the government regulators. The owners of these companies are just hoping to hang on long enough to make a bunch of money and then get out of Dodge. It's sad, but true; there are many wolves in the network marketing industry who are just waiting to devoir your hard earned money. So be wise when choosing a network marketing company. Don't believe everything you see, hear, or read, check it out. Do your due diligence and make an informed decision.
Key #2: Solid Product or Service
It's okay to share the possibility of making big money, but if a network marketing company is going to last long-term, it must market a solid product or service - something that people would readily buy without being involved with the business. For best results this should either be a consumable product or a renewable service. This will require less selling and since about 98% of the people out there hate to sell, you want a product or a service that people want to buy automatically every month, which brings me to autoship. If the company doesn't offer an autohip program for their product or an automatic subscription to their service, it won't work and you won't make money. Next, the product should be in high demand both now and far into the future. Who in their right mind would market buggy whips in the automobile era and yet many network marketing companies are offering old, obsolete products and services. Finally, the product or service should be something you enjoy, would buy even if you weren't in the business, and can get excited enough about to tell other people. It's a big bonus if the product is unique, patented, or exclusive to that company.
Red Flag #3: We Will Build it For You
I'm appalled at the number of internet and magazine ads I see that claim all you have to do is join and they will build the business for you. No recruiting. No presentations. No talking with your friends or family. No calling leads. No home meetings. Just join and use their proven system and you're going to make BIG MONEY! That's a load of garbage and you should run away quickly. Anything that sounds to good to be true usually is. Network marketing is a business and businesses require financial and time investments. Contrary to all those ads, you are going to have to talk with people, but the good news is that if you have a good company with a product/service you are excited about, you won't be able to stop talking with people. Also, this is a recruiting business and if someone is saying that you will never have to recruit anyone, they are LYING!!! I've been in this industry for 30 years and if there was a legitimate way to build a business without talking to people and recruiting anyone, I would know about it. Oh, there are the list builders and the programs where people can join for free, but no one makes money in those, so don't waste your time.
Key #3: Find a Good Upline Team
No one is going to build your network marketing business for you. They may be willing to put some people under you (in a binary or matrix plan), but you are still going to have to talk with people and recruit. The key here is to find a good upline team that will train and support you. They should offer internet based training via a team web site, e-mail messages, webinars and teleconferences, and even live meetings. This is something I've done for my teams for years and it works. It provides the training, tools, and resources necessary for anyone to succeed. Now, not everyone will, because some will not be willing to do the work, but they won't be able to say they failed due to poor training and support. You should also have upline leaders who are willing to send e-mail messages to or do 3-way calls with your business candidates. They should also offer personal one-on-one coaching or mentoring. Check their motives to see if they are only looking at what's in it for them or if they do sincerely seem interested in your success and are willing to devote the time to help you. A good company and product/service are important, but sometimes a good upline team is even more important.
So, there you go, three red flags to watch out for and 3 keys to success. Find a solid company with an excellent management team, a product/service that is in high demand and about which you can get excited, and a solid upline team that will help you accomplish your goals. When you find those keys and it feels right in your gut, jump in with both feet, put the blinders on and build like crazy. You'll love the results!
Thursday, January 15, 2009
US foreclosure filings up 81 percent in 2008
Yahoo News reports: "WASHINGTON – More than 2.3 million American homeowners faced foreclosure proceedings last year, an 81 percent increase from 2007, with the worst yet to come as consumers grapple with layoffs, shrinking investment portfolios and falling home prices."
The future is looking very bleak for many people. Foreclosures are up, bankruptcies are up, unemployment is up, the stock market is operating like a roller coaster, and the forecasters are saying that 2009 isn't going to be any better.
What they don't know and understand is that it's going to be one of the best years ever for the network marketing industry. It's been reported that during the great depression there were more millionaires created than in any other single period of time in the U.S. history. Now, we aren't in a full blown depression (yet), but we are in a major economic downturn that is spiraling further down and network marketing prosperes in this kind of market.
If you have a network marketing business, you've got the answer to the woes of many people in your area. In other words, there are many more people than normal who are in the "looking zone." They are looking for a solution to their financial struggles and fear about the financial future and you've got it. It's time to start sharing your business with everyone you know.
A few months ago, I jumped back into network marketing after being retired for seven years. I had built a large international network between the years of 1995 and 2001 and then retired with a lucrative full time income. I've been enjoying the time and financial freedom ever since. But as I began to see the signs of this economic collapse, it became clear to me that I was going to need another stream of income, so I'm back in the game.
This time around, I've found it very interested that so many more people are open to looking at my business. I'm sure you will find the same thing, if you just get out of your comfort zone and start talking with people. Ask them, "are you open to ways to bring additional income into your household?" OR "would you be interested in looking at a way you could increase your income?" OR "with this major downturn in the economy, it just makes financial sense to have multiples streams of income - do you?" If these questions don't work for you, come up with your own. The key is to ask a question that will begin a dialog where you can present your business as a solution to the financial situation both now and in the future.
It's time to turn off the television (there's nothing worth watching anyway), minimize the distractions, put the blinders on and start building your business. If you're with a good company that is going to be around for many years to come and you just work hard and smart for the next couple years, you will be very wealthy and enjoy an amazing financial future. The timing is perfect. Are you going to catch this wave or stay in your comfort zone and miss out on probably the best opportunity you will see in your lifetime? The choice is yours! I just hope you make the right choice.
Rod Nichols
Author, The Twelve Power Secrets for Network Marketing Success
http://www.rodnichols.com/
http://www.hopefinancial.biz/
The future is looking very bleak for many people. Foreclosures are up, bankruptcies are up, unemployment is up, the stock market is operating like a roller coaster, and the forecasters are saying that 2009 isn't going to be any better.
What they don't know and understand is that it's going to be one of the best years ever for the network marketing industry. It's been reported that during the great depression there were more millionaires created than in any other single period of time in the U.S. history. Now, we aren't in a full blown depression (yet), but we are in a major economic downturn that is spiraling further down and network marketing prosperes in this kind of market.
If you have a network marketing business, you've got the answer to the woes of many people in your area. In other words, there are many more people than normal who are in the "looking zone." They are looking for a solution to their financial struggles and fear about the financial future and you've got it. It's time to start sharing your business with everyone you know.
A few months ago, I jumped back into network marketing after being retired for seven years. I had built a large international network between the years of 1995 and 2001 and then retired with a lucrative full time income. I've been enjoying the time and financial freedom ever since. But as I began to see the signs of this economic collapse, it became clear to me that I was going to need another stream of income, so I'm back in the game.
This time around, I've found it very interested that so many more people are open to looking at my business. I'm sure you will find the same thing, if you just get out of your comfort zone and start talking with people. Ask them, "are you open to ways to bring additional income into your household?" OR "would you be interested in looking at a way you could increase your income?" OR "with this major downturn in the economy, it just makes financial sense to have multiples streams of income - do you?" If these questions don't work for you, come up with your own. The key is to ask a question that will begin a dialog where you can present your business as a solution to the financial situation both now and in the future.
It's time to turn off the television (there's nothing worth watching anyway), minimize the distractions, put the blinders on and start building your business. If you're with a good company that is going to be around for many years to come and you just work hard and smart for the next couple years, you will be very wealthy and enjoy an amazing financial future. The timing is perfect. Are you going to catch this wave or stay in your comfort zone and miss out on probably the best opportunity you will see in your lifetime? The choice is yours! I just hope you make the right choice.
Rod Nichols
Author, The Twelve Power Secrets for Network Marketing Success
http://www.rodnichols.com/
http://www.hopefinancial.biz/
Saturday, October 25, 2008
J.O.B.
Today's AP Headline: Chrysler slashing 5,000 jobs as sale talk goes on.
Are you relying on a job to secure your financial future? Better think again. JOB stands for Just Over Broke or Journey of the Broke. AND in these current economic times, jobs are even less stable than they've been in the last few years.
It's time to take control of your financial future and the only way you can do that is by starting your own business. If you have a lot of money, you could invest in a proven franchies like McDonalds, Burger King, or Wendys, but most people don't have the multi-millions of dollars it would take to do that. If you have $20,000 to $50,000 you could start a more traditional business, open a restaurant or retail store, but again, most people don't have that kind of money just sitting in the bank. Plus, the difficult part is that all of those businesses are going to be affected by the down turn in our economy.
Your best choice in business is network marketing. It is one of the few types of business that isn't impacted by a negative economy. In fact, it actually prospers during recessionary times. Why? Because, when times are tough people are looking for ways to make extra money and network marketing is a great way to do that.
Your investment to get into a network marketing business is likely going to be under $500 and that will include some product that you could use yourself or sell for a profit. If you are with a good company with a responsible upline, you will have excellent training and support available to you, so you don't have to try to figure it out yourself.
There are over 3,000 network marketing companies out there right now and more emerging weekly, so your first task is to find the right company for you. Click on this link to read my article How to Choose the Right Network Marketing Company. There are lots of good companies, a few rather risky ventures, and a bunch of really bad companies that you want to avoid like the plague. Reading my article will help you find that right company for you, your personality, and your budget.
Next, you need to do the things that the top income earners do. Now, you could spend hundreds, maybe thousands of hours interviewing top income earners and studying how they do business or you could invest $20 in my book The Twelve Power Secrets for Network Marketing Success. This book is the culmination of nearly 30 years of research. I've interviewed and worked with hundreds of the top income earners and have gleaned from their wisdom. I've also built very large networks myself, so I include some of the wisdom I have gained as well. This book covers everything you would need to know to be successful. Click HERE for more information or to order the book.
Network marketing is truly the ideal business, so no need to keep looking around. This is the answer you've been looking for. Secure your financial future today, by either starting a network marketing business or building the one you are in. Truly, your future depends on it.
Are you relying on a job to secure your financial future? Better think again. JOB stands for Just Over Broke or Journey of the Broke. AND in these current economic times, jobs are even less stable than they've been in the last few years.
It's time to take control of your financial future and the only way you can do that is by starting your own business. If you have a lot of money, you could invest in a proven franchies like McDonalds, Burger King, or Wendys, but most people don't have the multi-millions of dollars it would take to do that. If you have $20,000 to $50,000 you could start a more traditional business, open a restaurant or retail store, but again, most people don't have that kind of money just sitting in the bank. Plus, the difficult part is that all of those businesses are going to be affected by the down turn in our economy.
Your best choice in business is network marketing. It is one of the few types of business that isn't impacted by a negative economy. In fact, it actually prospers during recessionary times. Why? Because, when times are tough people are looking for ways to make extra money and network marketing is a great way to do that.
Your investment to get into a network marketing business is likely going to be under $500 and that will include some product that you could use yourself or sell for a profit. If you are with a good company with a responsible upline, you will have excellent training and support available to you, so you don't have to try to figure it out yourself.
There are over 3,000 network marketing companies out there right now and more emerging weekly, so your first task is to find the right company for you. Click on this link to read my article How to Choose the Right Network Marketing Company. There are lots of good companies, a few rather risky ventures, and a bunch of really bad companies that you want to avoid like the plague. Reading my article will help you find that right company for you, your personality, and your budget.
Next, you need to do the things that the top income earners do. Now, you could spend hundreds, maybe thousands of hours interviewing top income earners and studying how they do business or you could invest $20 in my book The Twelve Power Secrets for Network Marketing Success. This book is the culmination of nearly 30 years of research. I've interviewed and worked with hundreds of the top income earners and have gleaned from their wisdom. I've also built very large networks myself, so I include some of the wisdom I have gained as well. This book covers everything you would need to know to be successful. Click HERE for more information or to order the book.
Network marketing is truly the ideal business, so no need to keep looking around. This is the answer you've been looking for. Secure your financial future today, by either starting a network marketing business or building the one you are in. Truly, your future depends on it.
Monday, October 13, 2008
How to Build Your Business Right Now
If you haven't figure it out yet, this is a great time to build a network marketing business. Daily, the media is creating fear about the future of the stock market, retirement accounts, money in banks, and the economy in general. Many top economists are forcasting bad times for the next couple years at least. Although this is bad news to most, it's great news for those of us with network marketing businesses.
All that fear is sending people looking for solutions. They're trying to figure out what to do to secure their financial situation or make up for lost retirement funds. People you know are looking for what you have right now. So, here are a few tips for building your business during these crazy economic times.
First, I would send out a letter to everyone you know. In the first part of the letter, recount the media headlines and stir up the fear. Next, inform them that you have a way that could help them generate more funds, recoup retirement funds, offset stock loses, enjoy tremendous tax benefits, and secure their financial future. Finally, ask them to get in touch with you if they would like more information.
Second, start up conversations about the economy and how it is affecting their lives. Stir up the fear and then ask them if they are interested in a potential solution. If they are, schedule a time to present your business or arrange to provide them with information.
Third, start contacting those professions that have been the hardest hit: car sales, realtors, mortgage reps and brokers, and anyone selling a big ticket item to consumers. Talk with them about the economy, stir up the fear, and then present a solution.
There are some ways that you can benefit from our current economy and help others do the same.
All that fear is sending people looking for solutions. They're trying to figure out what to do to secure their financial situation or make up for lost retirement funds. People you know are looking for what you have right now. So, here are a few tips for building your business during these crazy economic times.
First, I would send out a letter to everyone you know. In the first part of the letter, recount the media headlines and stir up the fear. Next, inform them that you have a way that could help them generate more funds, recoup retirement funds, offset stock loses, enjoy tremendous tax benefits, and secure their financial future. Finally, ask them to get in touch with you if they would like more information.
Second, start up conversations about the economy and how it is affecting their lives. Stir up the fear and then ask them if they are interested in a potential solution. If they are, schedule a time to present your business or arrange to provide them with information.
Third, start contacting those professions that have been the hardest hit: car sales, realtors, mortgage reps and brokers, and anyone selling a big ticket item to consumers. Talk with them about the economy, stir up the fear, and then present a solution.
There are some ways that you can benefit from our current economy and help others do the same.
Tuesday, October 7, 2008
Secure Your Financial Future
Today's Headline: Retirement accounts have lost $2 trillion — so far
Are you relying on the 401k, retirement account, or Social Security to take care of you in your old age? Forget about it! Take control of your financial future with a network marketing business.
First, network marketing businesses are a lot more fun than just sticking money into an account.
Second, network marketing businesses have a much greater potential for return.
Third, network marketing businesses give you the opportunity to help others too.
Fourth, network marketing businesses provide you with much better tax benefits.
Fifth, network marketing businesses create opportunities for your to travel and meet new people.
There are five great reasons to utilize a network marketing business to secure your retirement.
Let me tell you a sad story. A number of years ago I met a man who had worked for the same company for 30 years and socked away a large sum of money into the company retirement account. He was 2 years away from retirement when the company went bankrupt. He lost everything and was devastated. "What could I do in 2 years that would enable me to recreate my retirement fund," he asked me and I told him there was only one thing - network marketing. I then helped him research the industry to find the right company for him and 2 years later he had built a business that generated far more than his retirement account would have.
Think about it this way. If you have a network marketing business that generates a $100,000 a year income, you have the equivalent of $1,000,000 in an investment that yields 10%. How long would it take you to accumulate $1,000,000 doing what you are doing? Whereas there are many people who work part-time and within 2 to 5 years have a network marketing business that generates a residual income of $100,000 or more (much more). Beyond the financial side, a successful network marketing business will give you free time to enjoy life, opportunities to travel and make new friends, lot's of cool contests and awards, and amazing tax benefits. So, if you have a network marketing business, get busy and secure your financial future. If you're looking for a business and would like to work with a proven leader, e-mail me by clicking HERE.
Are you relying on the 401k, retirement account, or Social Security to take care of you in your old age? Forget about it! Take control of your financial future with a network marketing business.
First, network marketing businesses are a lot more fun than just sticking money into an account.
Second, network marketing businesses have a much greater potential for return.
Third, network marketing businesses give you the opportunity to help others too.
Fourth, network marketing businesses provide you with much better tax benefits.
Fifth, network marketing businesses create opportunities for your to travel and meet new people.
There are five great reasons to utilize a network marketing business to secure your retirement.
Let me tell you a sad story. A number of years ago I met a man who had worked for the same company for 30 years and socked away a large sum of money into the company retirement account. He was 2 years away from retirement when the company went bankrupt. He lost everything and was devastated. "What could I do in 2 years that would enable me to recreate my retirement fund," he asked me and I told him there was only one thing - network marketing. I then helped him research the industry to find the right company for him and 2 years later he had built a business that generated far more than his retirement account would have.
Think about it this way. If you have a network marketing business that generates a $100,000 a year income, you have the equivalent of $1,000,000 in an investment that yields 10%. How long would it take you to accumulate $1,000,000 doing what you are doing? Whereas there are many people who work part-time and within 2 to 5 years have a network marketing business that generates a residual income of $100,000 or more (much more). Beyond the financial side, a successful network marketing business will give you free time to enjoy life, opportunities to travel and make new friends, lot's of cool contests and awards, and amazing tax benefits. So, if you have a network marketing business, get busy and secure your financial future. If you're looking for a business and would like to work with a proven leader, e-mail me by clicking HERE.
Monday, October 6, 2008
Recession Proof Business
Today's Headline: Stocks decline amid global worries credit crisis is spreading; Dow falls below 10,000.
With banks and other major financial institutions failing around the world, we are clearly heading into a major economic crisis. Whether it is a recession or depression, the key is to be self-employed and one of the most recession-proof businesses is network marketing. Why? Because when times get tough, people look for ways to make money and network marketing offers the idea business. It doesn't cost much to get started; you don't need any employees or leased office or warehouse space; and it's a simple business that anyone can do from home.
Even in the great depression, there were still people who had money, but they were the smart entrepreneurs of their day. Now is the time to get smart and build a network marketing business. If you already have a network marketing business, then build it fast and hard so that you are prepared for the coming economic crisis. If you are either looking for a business or are not completely happy with your current company, e-mail me at Rod@RodNichols.com and ask about my #1 rated company. In either case, quit messing around, get busy and build. As things get worse, you will be a shining light on a hill that people will flock to.
With banks and other major financial institutions failing around the world, we are clearly heading into a major economic crisis. Whether it is a recession or depression, the key is to be self-employed and one of the most recession-proof businesses is network marketing. Why? Because when times get tough, people look for ways to make money and network marketing offers the idea business. It doesn't cost much to get started; you don't need any employees or leased office or warehouse space; and it's a simple business that anyone can do from home.
Even in the great depression, there were still people who had money, but they were the smart entrepreneurs of their day. Now is the time to get smart and build a network marketing business. If you already have a network marketing business, then build it fast and hard so that you are prepared for the coming economic crisis. If you are either looking for a business or are not completely happy with your current company, e-mail me at Rod@RodNichols.com and ask about my #1 rated company. In either case, quit messing around, get busy and build. As things get worse, you will be a shining light on a hill that people will flock to.
Monday, September 29, 2008
Invest in Yourself
With the stock market going crazy, banks and financial institutions failing left and right, isn't it great to know that you can invest in something solid - yourself. That's right, when building a network marketing business, you are it's greatest asset. The number one reason that people join a network marketing company is because they like and trust their sponsor. You are why they join, so doesn't it make sense to invest in yourself.
There are three ways to invest in yourself and see a huge return in your network marketing business. The first is to build your belief in the network marketing industry. You can do this by reading everything you can find on network marketing. A couple great tools to build industry belief are The Network Marketing Magazine and my book The Ideal Business. The more knowledge you gain about network marketing, the greater your confidence in the industry.
Next, you need to build belief in your company. You can accomplish this by looking at the corporate web site, listening to CD's and watching DVD's, attending meetings and conferences, and talking with staff and upline leaders. If you have confidence in your company, it will be easy to tell people about it.
Finally, you have to believe in yourself. Invest in books, CD's, DVD's, and classes that will help you build confidence. Practice your presentations, handling objections and questions. Work with your upline and observe everything they do. If you don't believe in yourself, any negative word will set you off course and cost you dearly.
Forget about the stock market and the financial instruments. Invest in yourself and build a lucrative network marketing business. If you do, you won't need any of those investments; your business will take care of you for the rest of your life.
There are three ways to invest in yourself and see a huge return in your network marketing business. The first is to build your belief in the network marketing industry. You can do this by reading everything you can find on network marketing. A couple great tools to build industry belief are The Network Marketing Magazine and my book The Ideal Business. The more knowledge you gain about network marketing, the greater your confidence in the industry.
Next, you need to build belief in your company. You can accomplish this by looking at the corporate web site, listening to CD's and watching DVD's, attending meetings and conferences, and talking with staff and upline leaders. If you have confidence in your company, it will be easy to tell people about it.
Finally, you have to believe in yourself. Invest in books, CD's, DVD's, and classes that will help you build confidence. Practice your presentations, handling objections and questions. Work with your upline and observe everything they do. If you don't believe in yourself, any negative word will set you off course and cost you dearly.
Forget about the stock market and the financial instruments. Invest in yourself and build a lucrative network marketing business. If you do, you won't need any of those investments; your business will take care of you for the rest of your life.
Friday, September 26, 2008
I'm back!
After 7 years of retirement from network marketing business building, I'm back. Seven years ago I retired with a very nice full-time residual income to pursue my goals in ministry and writing. I'm still very happily pursuing those goals, so what could possibly attract me back into the business building. Only the most amazing product and opportunity I've seen in 29 years!!!
I'm excited and ready to build another large network and residual income stream, primarily through the internet. I've already recruited a friend of mine who is a top internet marketing guru. We are in the process of developing a team marketing and training system. What I'm looking for now are people who are serious about making money in network marketing. If you are finally ready to make some very BIG money in network marketing and help a bunch of other people do the same, then e-mail me by clicking HERE to learn more. Please, no lookie loos. Only the serious need respond.
I'm excited and ready to build another large network and residual income stream, primarily through the internet. I've already recruited a friend of mine who is a top internet marketing guru. We are in the process of developing a team marketing and training system. What I'm looking for now are people who are serious about making money in network marketing. If you are finally ready to make some very BIG money in network marketing and help a bunch of other people do the same, then e-mail me by clicking HERE to learn more. Please, no lookie loos. Only the serious need respond.
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