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cjbart
Member
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Posted: Tue Jan 23rd, 2007 08:17 am |
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Tony Rush and all of you have some great insights.#3 of Tony's point is Very important as it is in any business.
But I still don't understand the constant mention throughout this wonderful industry about the "returns or Profit" in such short periods of Time.
If the prospective Networker would use Basic Business Planning Rules and compare with History, they would not be so expectant of Positive Cash Flow, unless they do like many of us and make sure we have several streams of Income flowing, that "finances" our MLM.
We are always marketing Picks & Shovels, while we "dig for Gold"
We have been Farming, Food Service, Mfg and Financial Service businesses for many years, and the Fastest Return on Investment has always been with Quality Network MLM Marketing ventures.
But we still aren't looking for unreasonable Time frames.
Most of our Associates and Student realize Positive Cash Flow in 6-8 months which is very acceptable. At least they are Happy.
It is easy to accept reality if you aren't pumped full of Crap, up Front.
If the suits would get off the stage and tell the truth how they got there, maybe less eager recruits would be discouraged so quickly.
Just started a Fun Network Marketing survey. It will run for 60 days and we will publish the results. It will be interesting to see the results
If anyone would like the Link, PM me
Last edited on Tue Jan 30th, 2007 01:53 am by cjbart
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ebusinesstutor
Member
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Posted: Tue Jan 23rd, 2007 07:18 pm |
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Great post, Tony.
I am putting together a video for my Free Traffic Bar members on how to Choose the Right Online Opportunity.
I am amazed at how many people get involved promoting a product they would never buy themselves if they weren't in the MLM.
____________________
Garland Coulson, Owner
Free Traffic Bar - 10,000 Free Ads to Join
http://www.hypertracker.com/go/freetrafficbar/coopmlmforum/
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Web Content Writer
Member
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Posted: Tue Jan 30th, 2007 01:19 am |
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Some excellent food for thought, thank you. I think #1 is a very important question to ask oneself. Passion and belief in a product is what should drive someone to sell it, not just the money on the other end. Money is great, obviously, but not if you don't fully support the product and its company.
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Nick A. James
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Posted: Sun Feb 25th, 2007 01:24 am |
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You make some very good points - part of running any successful business is learning to analyze products and opportunities. Here are some other points to consider.
1. Look for a home based business in the hot areas - like nutrition where there is the huge base of baby boomer customers with income to spend on your product. Don't be fooled by some startup company with some new idea and you think you're going to get in on a groundfloor opportunity. It ain't an opportunity if no one wants the product. Analyze what the market is - there is a reason why heavy hitters are heavy hitters - they are able to accurately judge the market.
Check this out - the home based business you're looking at may be in a hot area like nutrition but they may be in a stagnant sub-area of nutrition. You want to look for the sub-areas of nutrition that are the fastest growing - the fastest growing are the nutritional drink or health beverage area.
This can be almost as important as a hot product - "The Marketing or Compensation Plan". Things to look for - does the plan provide extra rewards for the upline helping those underneath them? Like with matching enroller bonuses where the upline can enroll people under individuals in their organization and earn a percentage of that persons check in bonuses.
The above items are important but the following I believe really measures the pulse of an opportunity,
Evaluating home based business opportunities, especially those of the Network Marketing variety like evaluating the stock market is not always an exact science. If it were so you would only pick winners. However, while you can't always be right I have found over the past 11 years that certain indicators are fairly accurate in terms of predicting current and future success.
Notice I said current and future success. This may not seem like to much but it really quite huge. I don't know how many companies brag about how many records they set or how much their growth was in their first years.
This is nice history but there is a saying in the stockmarket: - Past performance is not an indicator of future success. Ask yourself this question, since a number of people became quite wealthy investing in Microsoft in the early 80's why couldn't I inivest today in Microsoft and become just as wealthy? I think you will agree it's because of timing.
The same thing is true of home business. The next time someone tries to tempt you with getting rich in some home business opportunity by telling you what they did in their first few years simply ask them. What is your rate of sales growth currently, or what was your rate of sales growth last year, or in the past couple years?
Now I will say this - past performance if it has been great is usually an indicator that the company isn't going to go out of business anytime soon, but it's certainly not an indicator of the current strength of an opportunity.
If someone made a lot of money when a company was going through hyper growth of 300% a year, why would you expect to make the same money if the company was only currently growing at 5% per year?
There are excellent opportunities out there - it's simply a matter of learning to sort through all the information and make an informed decision - not one simply based on hype and emotion.
Some information to think about.
Last edited on Sun Feb 25th, 2007 01:28 am by Nick A. James
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Nick A. James
Goji Health Drink
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Globalflow
Member
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Posted: Sun Feb 25th, 2007 02:45 am |
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Most MLM, or Network Marketing comp plans are obsolete. You really have to drive a massive amount of volume just to make a tiny check in most companies.
Is it any wonder that this industry is plagued right now with people jumping programs left and right? They don't make any money in their beginning weeks and "poof" they click on some ad and they're gone...
Consider the MLM proposition right now, a new person gets started for what? About $200 - $250 in start up fees and initial product purchase...
Then they are told to qualify and make "the big" money they should get on autoship (between $150 - $200) in monthly product purchase, each and every month...
Now, they have to think of marketing, and promotion and what most uplines say is:
1. Make a list of 100 - 200 people and "go get um"...
2. Get on this leads program, spend another 200 or so on "leads" and get on the phone...
Why do people quit so soon or do nothing?
Because deep down, they never cared about the dumb product... they got in so they can make money, not buy some "special" juice or vitamin or candle or soap...
If they were that much into your product, they would keep buying it even after they quit but we know the truth... they never do.
Plus they are getting bombarded with online ads about other ways they can make money without doing the old MLM thing...
They have options these days... many options.
I have found that there is ONLY one way to keep your team members no matter what you're all "into". A distributor that is making money will NOT leave.
They may add other income streams when they learn how to market effectively but if your team mates are actually making money QUICKLY in your program... they stick around.
That's the bottom line, no matter how much analyzing you want to do.
Comp plans and automated marketing tools and Attraction Marketing is what's important now.
Old school methods and "prospecting", cold calling, buying expensive leads and having to be on expensive "autoship" products is going to continue to get beat up by new, "work smarter" systems and comp plans that pay a lot NOW for your efforts and where you don't have to give up any "training sales".
Your people will continue to get information about these newer marketing methods and if you don't look up and try to honestly re-think your business, you'll continue to lose market share to these other programs.
It's the reality that the "Coffee House Letter" talks about and it's true...
Franco
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ToddMorris
Member
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Posted: Tue Feb 27th, 2007 10:08 am |
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Hi Tony,
I'd say that for the vast majority of network marketers, who's pay plans revolve around the "self consumption" model, the criteria you've outlined is very sensible.
Two things I'd watch out for though ...
1) With criterias #1 and to some extent #2, they sound like a simple questions, however human nature being what it is, it's extremely easy to delude ourselves.
I like the idea from one of the 1st few replies ...
Realistically, it doesn't matter quite as much what you yourself think about the value of your products/services (except from a sales psychology perspective) ... much more important, is the opinion of your Target Market about the value of what you're selling.
... of course, if the prospective distributor is also the main "retail" target market, then I suppose that their opinion would gain some importance.
2) If critera #3 is ever as simplistic as you've laid out, I'd consider that to be a red flag as far as the long-term viability of the opportunity. If you "know" that you have to have a set amount of people in your group to earn a set amount of money, it's probably a clue that very little (if any) retail sales (to people not involved in the business) are taking place.
To some people, this is not a problem. Some of us would have a very big problem with that.
To each his own.
Todd
Last edited on Tue Feb 27th, 2007 10:09 am by ToddMorris
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snapon1973
Banned
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Posted: Wed Feb 28th, 2007 12:21 am |
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| Yah The program has to offer some real value and a decent profit margin. But I personally like programs that offer more than one income stream. They are the best my opinion instead of marketing just one product or recruit one downline. Also look at how well laid out it is is your sponsor there to help or some phone support is a plus too.
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Lets stay home and work. jobs suck!
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Marilyn Monroe
Member
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Posted: Fri Mar 2nd, 2007 05:31 pm |
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I agree with all three criteria! Always have.
Regarding #3 I just want to point out though that one can always break even FAST without having to get so many people on "self consumption auto-ships".
Its called retail!.
If you have great quality products that people want and need at "competitive prices" you can make your money back ASAP!
You dont have to wait to build a downline of self consumption networkers.
There are a FEW mlm companies out there that actually have competitive prices and retailable products.
MM (Deb)
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Globalflow
Member
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Posted: Fri Mar 2nd, 2007 05:40 pm |
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That is so true!! Back in the late 90s I found a company with a product I really am still passionate about... I don't promote that business... but I still order my "Body Balance" and will continue to buy that product. It just "fit" me and I really enjoy it.
My wifes #1 "problem" is that she's loved Mary Kay products for so long... but she likes support local reps for the business... but they always go out of business.
She doesn't want to "join" and buy from herself... out of principle and to support the industry she wants to always find a local rep and buy retail.
So she's out looking for a rep right now! LOL!
It's great. And really true... retailing a solid, competitive product always works.
Just that some people are more focussed on "building a business" by finding business partners to join their team.
Retailing is cool. (even though honestly I don't do it.) Focused on online marketing which is great and fun for me. I don't want to "sell" products to people. Not me. Don't like it. Too much work.
But I'm a GREAT retail customer!!!
Franco
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Marilyn Monroe
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Posted: Fri Mar 2nd, 2007 05:55 pm |
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Hi Franco!
Thats great and I know exactly what you mean.
There are MANY Mary Kay reps here in my city and there is always a party going on somewhere.
I know two gals here who love Mary kay products,they have ZERO desire to "sign up" to get them wholesale. They just want to BUY them from a local rep and...like you said Mary Kay reps come and go,so they just look for another one to buy from! They would rather do a home party and get some great discounts and FREE products that way,or they just flat out want to BUY the products because they love the one on one service!!!
That is another "benefit" of Direct Sales...You get to TRY before you BUY!
There are people out there who just dont want to "SIGN UP".
They prefer to buy the products flat out AND its GREAT for the Mary Kay reps who earn a flat 50% retail commission!! They make a great income on RETAILING the products alone! "Self consumption" is only ONE way to build a business.
MM (Deb)
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LuckCreator
Member
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Posted: Mon Jun 18th, 2007 06:44 am |
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More than any other factor, assuming you're with a legitimate company with valuable product that are in demand, it's a SYSTEM that is so critical. The most difficult thing for a new distributor to do is to get it off the ground because probably 95% of people in MLM don't have a real step-by-step system which has been proven and is duplicatable.
It's so vital to ensure that you will have use of a 'system to drive it,' because you can be with the greatest company in the world with the best products and know all the theoretical numbers on how to succeed, but that's secondary to making it in this business.
Even if you're really bright and can achieve success without a true system, you won't duplicate, so whatever successes you have will be short lived.
Nobody looking at your opportunity is worried about whether your company and products are good as much as they're worried about 'can i do this?' You better be able to show them in a simple way how they can.
-Robert
geofftrader wrote:
and there is a simple - duplicatable - system to drive it.
Oh - and don't forget to ask your sponsor- did he do it that way, and how soon was he successful ( or she)
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keyaw
Member
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Posted: Fri Apr 4th, 2008 06:01 pm |
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Hi all - I'm pretty new hear but I did want to get some of your all's insight on this... I was talking to my mother about the high number of foreclosures and she told me that she holds the mortgage brokers accountable for the rise in foreclosures. She feels that these brokers should have educated their clients on how their loans would affect their monthly payments and basically called these brokers scam artists that should be sued for their unscrupulous behaviors.
I think that many of these foreclosures could have been avoided if the homeowners took some time to research their home loan options before they signed on the dotted line.
What does this have to do with Network Marketing?
Here’s how.
Many people start an MLM business without doing their own research first. Next thing you know the new marketer is in a company, has invested money for their network marketing start up, and then lose their shirts because they have no idea of what it really takes to succeed in the network marketing industry.
So what happens then?
The newbie gets frustrated, but instead of blaming himself, he blames his sponsor and labels this person as a scam artist.
I think this is part of the reason this industry has gotten such a bad name.
What do you think?
And what do you think we as MLMers can do to improve this situation?
Meaning: How can we help our prospects be better educated about our industry and business opportunity before they invest time and money to start an MLM business?
Keya
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TeamMLMTheGame
Member
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Posted: Fri Apr 11th, 2008 11:28 pm |
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So you think you got a great business? Are you sure?
I was looking over some of Tim Sales materials, and his 4 principles of business inspired me to remind and/or teach anyone here.
This is how he recommends you to evaluate your business.
1. Huge Expanding Market: Is your target demographic large, and is it growing?
2. Having a Unique and Consumable Product: Can it be purchased anywhere? Will your customers need to buy the product again and again or is it a 1 time purchase only? Ideally here, the product cannot be purchased at other places, and the product is heavily consumable so that your client will desire to purchase from you multiple times.
3. Timing: Is your product and company here at the RIGHT time?
4. Ability to create leverage: This is what network marketing is all about, so this is a mute issue for network marketers.
All network marketing businesses usually have some of these, but there are many that score high in each of the four categories.
Anders Gustavsson
Last edited on Fri Apr 11th, 2008 11:30 pm by TeamMLMTheGame
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Mel
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Posted: Sat Apr 12th, 2008 02:48 am |
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I have never seen a MLM company with a prouduct that could not be purchased some where esle. Most of the time the product can be purchased some where else cheaper. I really think most people are sold on the dream of making money. Most distributor end up customers because they give up on the dream. Network Marketing is hard work.
Melva
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TonyRush3
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Posted: Sun Apr 13th, 2008 03:40 pm |
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Network marketing is hard work?
That's an interesting perspective.
Tony
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TeamMLMTheGame
Member
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Posted: Mon Apr 14th, 2008 09:25 pm |
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Mel.
By no means am I here to argue. I am here to share my thoughts, learn, and educate others, and there are a huge number of mlm copanies that have sole rights to a product, and this helps the distributrs as there is no outside competition.
Here are some:
Xango, Goji, Monavie, plus the vast majority of mlm juice companies have sole rigths to their special juices
Agel, plus many other Vitamin or Suplement MLM companies have sole rigths to their special products
You are also right, there are some companies that do not have products that are ONLY tied to them:
Some examples are Telcom, Travel, Legal based mlm companies
These are not bad by any means, they just have more competition.
Anders Gustavsson
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Mel
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Posted: Tue Apr 15th, 2008 02:25 pm |
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TeamMLMTheGame:
My comments were not ment to be argumentative either. The point I was trying to make is that there are a lot of competing products.
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Mel
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Posted: Tue Apr 15th, 2008 02:39 pm |
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Hi Tony:
It may not be physically hard. But it can be emotionally hard. If one has never sold anything,some people can not handle the rejection. Also, because of past practices of some older companies and MLMer's, people think pryamid. I love network marketing. I even did my masters project on the subject. I think its a great vehicle to financial indepentance. That why I do it.
Mel
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jman99
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Posted: Sat Apr 19th, 2008 06:08 pm |
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There are a lot of opportunities available when you are looking for the right home business opportunity for you. There are some things that you need to look for before you decide to do any business opportunity. It is important that you find the home business that will help you every step of the way.
Here are some things that you need to look for when you are choosing which home business opportunity to start.
One: The business opportunity needs to give you everything that you need to get started. They should provide you with a website; marketing material, advertising help and other tools that will help you get started. The really good home business opportunity will give you all of this and so much more.
Two: They need to provide you with training. Most people who start a home business will not have any clue about how to get started. This is why training is so important. You should be provided with the training that you need to help you start advertising your home business opportunity. You should never be left on your own to try and figure everything out on your own.
Three: One very important thing that you need to have is support. The business opportunity needs to be able to provide this for you. When you are doing a business it is important that you have help when you get stuck on something. You don’t want to try and do any business without help of any kind. You can if you want to but you will have a much harder time making your home business opportunity a success. The more help you have the easier it will be for you to make money.
Four: The product or service that you will be promoting needs to be really good. No one will buy anything from you if it isn’t good. This is just a fact that everyone realizes. So it is important that you like the product or service that you are selling because when you don’t like it, the chances are that others won’t like it either.
These are all important things that need to be provided by any home business opportunity. You don’t want to start any business opportunity that doesn’t give you what you need to get started and become a success. So you need to be careful about what opportunity you choose to do and check it out thoroughly before you agree to start.
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maxman
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Posted: Sat Apr 19th, 2008 06:47 pm |
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More important those things is that they are in the right order. Too many companies are started with the idea of starting a MLM company. That is the number one problem in MLM. There needs to be a viable product first and then the business second. Some products just cannot be marketed any other way for them to be effective.
I truly believe that in order for a MLM company to be sucessfull the product must come first and if it it break through enough and good enough it will sell itself. I do not recruit I sell the product and that does the recruiting for me.
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