By Jeremy Standiford
Now that you know what a funded proposal is, let’s talk about a few of the systems out there. Mike Dillard’s Magnetic Sponsoring was one of the first. When you go to his site he offers a free 7-day boot camp, and of course, to enter the boot camp you must enter your name and e-mail address. This will subscribe you to Mike’s newsletter, which provides a slow drip of information designed to get your prospect to buy Mike’s book, “Magnetic Sponsoring” for $40. Mike’s newsletter is actually really good, and I recommend subscribing to it by clicking here. On the back end of Magnetic Sponsoring are multi-tiered informational products useful to network marketers. These products range from talking on the phone (black belt recruiting) to driving traffic (traffic formula). These products vary in price, but if you bought every product, it would total over $1000. My system contains the same information, as well as weekly training webinars on cutting edge techniques. You can give it a 14-day test drive right now for only $1.
Next, there’s The Renegade Network Marketer, created by Ann Sieg. This one is more basic than Mike Dillards, it involves offering a free e-book “The 7 Greatest Lies of Network Marketing” and of course, you provide your e-mail address in order to download. When you enter your e-mail address you subscribe to Ann’s list where she talks about various MLM related things and encourages you to buy a copy of her book “The Renegade Network Marketer” for $67. The book is similar to Mike Dillard’s “Magnetic Sponsoring” in fact I was talking on the phone with Jimmy Davis a while back, and he said that Ann Sieg had basically plagiarized Mike Dillard’s book. I’m not saying that it’s true, but that’s what he told me. In the back office of The Renegade Network marketer, there’s some information on how to build your MLM business online, it wasn’t too helpful, but I did get some value from it. That’s one of the reasons I started using my current system, the back office is packed full of useful information and video tutorials that will teach you every thing you need to generate leads for your business with both free and paid methods. It’s easy to get started and there’s an entire support team and community forum to help you if you run into any problems. To take it for a 14-day test drive for only $1 click here.
These systems provide valuable informational products that offer you a commission on each sale, and the contact information of the buyer so you can build your MLM business. The information is good, but I do have a few problems with systems like these.
The first, is that they are not self-branded, that is when you send someone to the their website, you are not anywhere on the site, your prospect does not get to know you in any way through this and as a result will have no idea who you are when you initiate contact. Network marketing is all about building relationships, if there’s no interaction between you and your prospect or if your prospect is not getting to know you better, there is no relationship, and building your business with this method will be more difficult.
The second problem is that if your prospect doesn’t buy right away, but does enter their email address, they will start receiving e-mails from Mike Dillard or Ann Sieg, but not you. Once again, you are not building a relationship with your prospect, and if they do buy the product, they will have no idea who you are when you initiate contact. Most prospects won’t even enter their e-mail address, and even some that do might not even be interested in what you have to offer because they don’t know you. That’s why it’s important to make sure every e-mail you get is on your list and receives e-mails form you. Ask any Internet marketer and they will tell you that the money is in the list. My system is completely self-branded. If a prospect clicks to your site, they will see you on the first page, and when they enter their name and e-mail, they’ll start receiving e-mails from you.
The final problem with these systems is that you can’t get in for less than $40, there’s no test-driving the system to take a sneak peak and see exactly how it works. It’s sort of a “mystery box”, you never know what you’re going to get until you fork over your hard earned cash.
If you are serious about building your MLM business you owe it to yourself to check out my generic, self-branded marketing system. It incorporates 11 different income streams in the system through various affiliate programs. It’s what we call a funded proposal on steroids. When they subscribe to your newsletter, they get e-mails from you, and in case you’re worried about having to constantly write e-mails, all of that is taken care off. We have about 2 months of pre-written ad copy that you can modify and use and modify as you please. It’s all done for you. My system positions you as the leader, because it is branded with you and only you. Click here to visit my website, you will see me on the first page and you will be able to sign up for my newsletter packed with tons of useful information. When you subscribe I’ll show you all the tools, training, marketing strategies, tips, and even confidential ad sources myself and other top earners in this industry use. If you are truly committed to building your network marketing business, you owe it to yourself to visit my site, click here.
See Also:
The self-branded system I'm using that tops all others
Mike Dillard’s Magnetic Sponsoring
Ann Sieg’s The Renegade Network Marketer
The 7 Greatest Lies of Network Marketing
Showing posts with label legitimate home business. Show all posts
Showing posts with label legitimate home business. Show all posts
Saturday, February 21, 2009
Wednesday, February 18, 2009
11 Criteria for Choosing an MLM Company
By Jeremy Standiford
In my previous post Legitimate Business or Illegal Pyramid?, I talked about how to tell the difference between a legitimate network marketing company and an illegal pyramid. In this article I will discuss criteria for a company that will offer you the greatest chance for success.
1. Has the company been around for at least 5 years?
If you want the efforts you put in today to pay off for many years in the future, choose a company that has proven that it will be around for the long term. 90% of all network marketing companies fail within the first 2 years of business. There are a lot of start up network marketing companies out there, it may be enticing to get in on the “ground floor” but the truth is, you should be able to do well in any network marketing company no matter when you come in, so pick a company that is in it for the long haul, with a proven track record. If the company has been around for a while, there’s a good chance the company is not an illegal pyramid, and will also not go out of business.
2. Is the company well capitalized?
In other words, does it have the cash that it will need to grow, to maintain a solid infrastructure, to attract talented management, to keep pace with technology? Publicly traded companies are ideal since the SEC requires publicly traded companies to disclose their financial condition in detail every 90 days. Private companies don’t have to disclose this information, so you would be taking a risk by joining a private company.
3. Does the company offer products or services that are unique?
There are countless network marketing companies that are selling some sort of nutrition product. I don’t blame them either, there are 78 million baby boomers, most of them are looking to improve their health and financial freedom. But the truth is, not only are there a plethora of network marketing companies hocking every potion and pill imaginable, there are also countless traditional companies running massive ad campaigns for their product. It’s very difficult to compete with so many “big guns”, so be sure to choose a company that has unique products and services, not found anywhere else, and are also something that is in high demand, or at the very least, the potential to create the demand exists within the market.
4. Is there a genuine need for the product or service?
You've probably heard horror stories about people ending up with a garage full of expensive products - the reason that happens is because the business opportunity makes the overpriced product more attractive. The distributor might think, yeah I’ll pay an extra $20 for this, because in two months I’ll be making an extra $3000. Of course, that’s usually not the case. Your product or service must fill a real need at a fair price, and there should be a large untapped market for it. To sum this up, the product or service must provide high value to the CUSTOMER, making the transaction a win/win situation.
5. Is the product or service trendy or a fad?
You really can’t expect to build a long term business on a product or service that is current fad. When I was in grade school everyone was playing with these things called pogs. You if you’re older or younger than me, you’ve probably never heard of them, but they were extremely popular when I was a kid and now long forgotten. You should avoid a company that is selling some sort of fad; these things fade away, leaving you starting from square one.
6. Can you generate immediate income?
But more importantly, how much immediate income can you generate? If you’re making 15% commission on the sale of a $60 product, that’s $9. Some companies offer advance commissions on sales with the presumption that your new customer will continue to buy the product. So if you’ve made a $60 sale, and you get an advance for the whole year, you’ve just made $108 dollars. I personally prefer this method of compensation, you do risk getting charge backs if you’re customer stops ordering, but it puts more immediate cash in your pocket and motivates you to continue to have a relationship with that customer.
7. Does the marketing system take full advantage of technology?
Not everyone is a sales type, but anybody can plug into a system and tools that do the selling and sorting for you. Most network marketing companies do not offer this type of high tech system. Their “system” consists of making a list of friends and family, calling them, and after you’ve exhausted that list, give tools to anyone and everyone you come across and try and invite them to meetings. This can be a painful process for most people, rejection is something most people are not prepared to deal with. Luckily, there are a number of generic, turn-key systems on the Internet. I believe my system is the best, has all the Internet marketing training you will need, weekly training calls with experts and top earners, a community forum for questions, and uses a funded proposal system to monetize the lead generation process. The best thing about it is that you can take try my system for two weeks for only $1. For more information click here or check out my other post An In-depth Look at Some Popular Funded Proposal Systems or if you don't know what a funded proposal system is, check out my other post The Funded Proposal System Explained
8. Is the person who is introducing you to the opportunity dedicated to your success?
If they are, the company is strong, and the product or service is a winner, (and, of course, you're willing to learn) you will succeed. There's a big difference between a "sponsor" and a "recruiter." A sponsor coaches, motivates and trains and a recruiter just signs people up and in most cases, abandons them.
9. Is there a way to build your business part-time without losing your full time income?
The company must have automated systems that can do the heavy lifting (lead generation and sorting of said leads) for you so that you can use your time efficiently. If you’re interested in a generic, self-branded system for your network marketing business, visit my website.
10. What is the customer to business owner ratio?
This one is especially important when considering nutritional product companies, but also applies to other companies as well. Ideally, you want considerably more customers than business builders. If the company's revenue comes entirely from it's associates, this is a red flag that the product is most likely not that great, and is only attractive because it has a business opportunity attached to it. Stay away from companies like these, there are better companies out there that have loads of happy customers that are perfectly happy not promoting the products.
11. Will you have fun?
Everyone has a need for excitement and fulfillment in life. Your business should be no different. Network marketing is not for everyone, if you don’t think you’ll have fun building a business, or if you really don’t like people, don’t join a business. Along these lines, the product should be something you believe in, not just a way to make money. If you don't believe you're adding value to your customer's lives by selling them your product, you will not be successful or happy in your business.
Now that you have eleven things to look for in a network marketing company, you are fully prepared to go out there, get some information and select a company and team that is right for you.
To check out the system you can use to generate and monetize qualified leads for your business click here
See also:
Rich Dad's the Business School - For People Who Like Helping People
Your First Year in Network Marketing: Overcome Your Fears, Experience Success, and Achieve Your Dreams!
In my previous post Legitimate Business or Illegal Pyramid?, I talked about how to tell the difference between a legitimate network marketing company and an illegal pyramid. In this article I will discuss criteria for a company that will offer you the greatest chance for success.
1. Has the company been around for at least 5 years?
If you want the efforts you put in today to pay off for many years in the future, choose a company that has proven that it will be around for the long term. 90% of all network marketing companies fail within the first 2 years of business. There are a lot of start up network marketing companies out there, it may be enticing to get in on the “ground floor” but the truth is, you should be able to do well in any network marketing company no matter when you come in, so pick a company that is in it for the long haul, with a proven track record. If the company has been around for a while, there’s a good chance the company is not an illegal pyramid, and will also not go out of business.
2. Is the company well capitalized?
In other words, does it have the cash that it will need to grow, to maintain a solid infrastructure, to attract talented management, to keep pace with technology? Publicly traded companies are ideal since the SEC requires publicly traded companies to disclose their financial condition in detail every 90 days. Private companies don’t have to disclose this information, so you would be taking a risk by joining a private company.
3. Does the company offer products or services that are unique?
There are countless network marketing companies that are selling some sort of nutrition product. I don’t blame them either, there are 78 million baby boomers, most of them are looking to improve their health and financial freedom. But the truth is, not only are there a plethora of network marketing companies hocking every potion and pill imaginable, there are also countless traditional companies running massive ad campaigns for their product. It’s very difficult to compete with so many “big guns”, so be sure to choose a company that has unique products and services, not found anywhere else, and are also something that is in high demand, or at the very least, the potential to create the demand exists within the market.
4. Is there a genuine need for the product or service?
You've probably heard horror stories about people ending up with a garage full of expensive products - the reason that happens is because the business opportunity makes the overpriced product more attractive. The distributor might think, yeah I’ll pay an extra $20 for this, because in two months I’ll be making an extra $3000. Of course, that’s usually not the case. Your product or service must fill a real need at a fair price, and there should be a large untapped market for it. To sum this up, the product or service must provide high value to the CUSTOMER, making the transaction a win/win situation.
5. Is the product or service trendy or a fad?
You really can’t expect to build a long term business on a product or service that is current fad. When I was in grade school everyone was playing with these things called pogs. You if you’re older or younger than me, you’ve probably never heard of them, but they were extremely popular when I was a kid and now long forgotten. You should avoid a company that is selling some sort of fad; these things fade away, leaving you starting from square one.
6. Can you generate immediate income?
But more importantly, how much immediate income can you generate? If you’re making 15% commission on the sale of a $60 product, that’s $9. Some companies offer advance commissions on sales with the presumption that your new customer will continue to buy the product. So if you’ve made a $60 sale, and you get an advance for the whole year, you’ve just made $108 dollars. I personally prefer this method of compensation, you do risk getting charge backs if you’re customer stops ordering, but it puts more immediate cash in your pocket and motivates you to continue to have a relationship with that customer.
7. Does the marketing system take full advantage of technology?
Not everyone is a sales type, but anybody can plug into a system and tools that do the selling and sorting for you. Most network marketing companies do not offer this type of high tech system. Their “system” consists of making a list of friends and family, calling them, and after you’ve exhausted that list, give tools to anyone and everyone you come across and try and invite them to meetings. This can be a painful process for most people, rejection is something most people are not prepared to deal with. Luckily, there are a number of generic, turn-key systems on the Internet. I believe my system is the best, has all the Internet marketing training you will need, weekly training calls with experts and top earners, a community forum for questions, and uses a funded proposal system to monetize the lead generation process. The best thing about it is that you can take try my system for two weeks for only $1. For more information click here or check out my other post An In-depth Look at Some Popular Funded Proposal Systems or if you don't know what a funded proposal system is, check out my other post The Funded Proposal System Explained
8. Is the person who is introducing you to the opportunity dedicated to your success?
If they are, the company is strong, and the product or service is a winner, (and, of course, you're willing to learn) you will succeed. There's a big difference between a "sponsor" and a "recruiter." A sponsor coaches, motivates and trains and a recruiter just signs people up and in most cases, abandons them.
9. Is there a way to build your business part-time without losing your full time income?
The company must have automated systems that can do the heavy lifting (lead generation and sorting of said leads) for you so that you can use your time efficiently. If you’re interested in a generic, self-branded system for your network marketing business, visit my website.
10. What is the customer to business owner ratio?
This one is especially important when considering nutritional product companies, but also applies to other companies as well. Ideally, you want considerably more customers than business builders. If the company's revenue comes entirely from it's associates, this is a red flag that the product is most likely not that great, and is only attractive because it has a business opportunity attached to it. Stay away from companies like these, there are better companies out there that have loads of happy customers that are perfectly happy not promoting the products.
11. Will you have fun?
Everyone has a need for excitement and fulfillment in life. Your business should be no different. Network marketing is not for everyone, if you don’t think you’ll have fun building a business, or if you really don’t like people, don’t join a business. Along these lines, the product should be something you believe in, not just a way to make money. If you don't believe you're adding value to your customer's lives by selling them your product, you will not be successful or happy in your business.
Now that you have eleven things to look for in a network marketing company, you are fully prepared to go out there, get some information and select a company and team that is right for you.
To check out the system you can use to generate and monetize qualified leads for your business click here
See also:
Rich Dad's the Business School - For People Who Like Helping People
Your First Year in Network Marketing: Overcome Your Fears, Experience Success, and Achieve Your Dreams!
Legitimate Business or Illegal Pyramid?
By Jeremy Standiford
Legitimate Business or Illegal Pyramid?
There are literally hundreds of home based business opportunities available. Many of these companies are network marketing companies, some are good and some are illegal scams or “money games”. Now both legitimate and non-legitimate companies will tell you that you can make a six or seven figure income working from home, but the key is to be well informed enough to tell the difference between a legitimate business and a scam. The following are questions you should ask about any network marketing company you should consider. If the answer to any of these questions is the “wrong” answer then it is most likely an illegal pyramid scheme or at least an inferior company.
1. How will you get paid? The first question you should ask with any company is how you get paid. If you get paid from recruitment (i.e. the associate/franchise fee), and not from actual sales of a product or service then it is an illegal pyramid scheme. Find a different company.
2. Buybacks and Charge backs – Will the company offer to buyback any unsold/unused inventory you might have? Will the company let your customers do the same? Usually if the company does offer this, then the distributor of the product will also get a charge back. While charge backs are not something you may look forward to, a company that has a good return/cancellation policy is most likely legit.
3. What is the company most concerned with? A legitimate network marketing company will be most concerned with establishing a market for its product or service. If the company doesn’t seem to have much interest in distributing product and increasing market share, stay away.
There are other ways to tell if a company is legitimate, but these three are the major qualifiers for a legitimate network marketing company.
Now that you know the difference between a legitimate company and a scam, check out my next article, selecting a network marketing company that will offer you the greatest chance for success.
Suggested Readings:
Rich Dad's the Business School - For People Who Like Helping People
Your First Year in Network Marketing: Overcome Your Fears, Experience Success, and Achieve Your Dreams!
Legitimate Business or Illegal Pyramid?
There are literally hundreds of home based business opportunities available. Many of these companies are network marketing companies, some are good and some are illegal scams or “money games”. Now both legitimate and non-legitimate companies will tell you that you can make a six or seven figure income working from home, but the key is to be well informed enough to tell the difference between a legitimate business and a scam. The following are questions you should ask about any network marketing company you should consider. If the answer to any of these questions is the “wrong” answer then it is most likely an illegal pyramid scheme or at least an inferior company.
1. How will you get paid? The first question you should ask with any company is how you get paid. If you get paid from recruitment (i.e. the associate/franchise fee), and not from actual sales of a product or service then it is an illegal pyramid scheme. Find a different company.
2. Buybacks and Charge backs – Will the company offer to buyback any unsold/unused inventory you might have? Will the company let your customers do the same? Usually if the company does offer this, then the distributor of the product will also get a charge back. While charge backs are not something you may look forward to, a company that has a good return/cancellation policy is most likely legit.
3. What is the company most concerned with? A legitimate network marketing company will be most concerned with establishing a market for its product or service. If the company doesn’t seem to have much interest in distributing product and increasing market share, stay away.
There are other ways to tell if a company is legitimate, but these three are the major qualifiers for a legitimate network marketing company.
Now that you know the difference between a legitimate company and a scam, check out my next article, selecting a network marketing company that will offer you the greatest chance for success.
Suggested Readings:
Rich Dad's the Business School - For People Who Like Helping People
Your First Year in Network Marketing: Overcome Your Fears, Experience Success, and Achieve Your Dreams!
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