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mlmwealthfromhome
Banned
| Joined: | Tue May 20th, 2008 |
| Location: | |
| Posts: | 13 |
| Mana: |  |
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Posted: Fri May 23rd, 2008 03:09 pm |
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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 their first 2 years. You don't want to invest your precious time and resources (not to mention your future) in something that may not be in business next month, do you?
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 — and, of course, to pay your commissions! (I prefer publicly traded companies because they're required to disclose their financial condition in DETAIL every 90 days to the SEC and other governmental agencies. You may not be able to obtain this information on a private company, so you'll be taking a risk on its financial condition.)
3. Does the company offer products or services that are unique?
That is, they're not readily available elsewhere (especially at a discount) and they're not just another "me too" product that has loads of competition.
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 water filters - the reason that happens is because only other distributors will purchase the product at that price! Your product or service must fill a REAL need at a fair price - and there should be a large untapped market for it. In other words, it MUST provide tremendous value, so the customer is the biggest winner.
5. Is the product or service trendy or a fad?
You can't build long term residual income (i.e., your retirement!) if the product or service only has short term appeal (e.g., beany babies, etc.). Think long term instead. Is the product or service something that your customers will continue to use for a long time?
6. Can you generate immediate income?
So that you can finance your marketing and expansion efforts from cash flow.
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!
8. Is the person who is introducing you to the opportunity committed 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 (i.e., selling and sorting) for you so that you can use your limited time efficiently.
10. Will you have FUN?
Although this may not be an element of your current JOB, we think it's important! You should have a lot of fun with your business partners while you work together to build a long term business and your financial army.
So there you have it — ten criteria for selecting a superior network marketing opportunity. Of course, even with a great company, there's no such thing as a free lunch. You WILL have to work! But, with the right opportunity (unlike your job), it won't have to be forever!
____________________
Learn 7 Great Lies of Network Marketing
Travel And Make $5,000 MONTH
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CraigM
Member
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Posted: Fri May 23rd, 2008 06:01 pm |
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Five Keys to Success in Network Marketing  
OK! We’ve all heard that there are many “secrets” to success in Network Marketing and MLM. We’ve also heard that your upline is lying to you and not sharing their “secrets” about the business and industry. That’s all just horse hockey! The biggest secret about success in this business and industry is that there isn’t any secret. Surprised? I thought you might be, but it is very true. Oh! And by the way, your sponsor has a vested interest in your personal success so he is not going to be lying to you about what it takes. More on this later.
• Key #1: You! That’s right, you. Here’s what I mean about “you.” The success or failure you experience in network marketing and MLM is totally reliant upon you, your beliefs, your attitude, and the direct actions you take toward success. You must have a very strong “why” you want to be in this business and what you want to attain as the benefits or your efforts. The stronger the why the greater chance of success. I determined my “why” by completing a vision statement of how I want my life to be as a result of my efforts. What my life will look like, smell like, be like, experience and advantages I will have that I don’t have now. Vision statements will be covered in detail in another article.
There are many areas of your life you will need to evaluate to determine what type of product or service you wish to represent and market. Along with that, the choice of company is paramount in keeping yourself aligned with your wants and vision. See yourself as a success with this company and product. If you can’t see it then it won’t happen. Keep searching. You have to be the driving force behind your success. Yes, there are many other elements that come into play but “you” are the ultimate key to your own success.
• Key #2: Product or service. What products or services get you excited or do you already have a firm foundation of experience and knowledge? This may or may not take some time on your part to crystallize. It is as an important key as any of the others and must be addressed from a business point of view. Can you make a profit with this product or service? Is there a ready made market? Is there exclusivity in the product or service not found in the general consumer market? Exclusivity is nice but is also short-lived in this consumer market.
Network Marketing has hundreds of quality products and services available to you including travel, nutritional, health, long distance, VIOP, communication, energy, and many others. Don’t make the mistake of following the herd but then again, don’t be too unique that no one has ever heard of it either. Choosing a product or service to represent in your home based business is as personal as the company you select to partner with that has your offering.
• Key #3: Selecting the company that represents and markets your chosen product or service. This is so important and requires research, due diligence, investigation, interviews with existing reps, interviews with potential sponsors, and following that, oh so important, “gut feeling.” To keep it simple, I will list for you the requirements that I used to pick my current company and this may shed some light on what you need to look for in your company.
*Solid company of five years or older
*A fun, professional, and enthusiastic "culture"
*Competent corporate staff with business management and NWM/MLM experience on the front lines.
*Exclusive product by quality unmatched in the marketplace
*Products supported by real life studies for efficacy and quality
*A robust comp plan that is quick to see results and easy to understand
*Ability to retail products at a reasonable price for "right now" money
*A quality marketing plan and support tools in place
*Solid and increasing annual sales and distributor growth
*Qualified Upline with proven success and willingness to share information
*A plan for a successful system to plug into and NOT reinvent the wheel
*Both company and product recognized in the community for quality
*Easy online signups and prospect back office tracking
*Company websites provided at no or minimum cost to the distributor
*Outstanding customer support in knowledge and helpfulness
*No voicemail, phone trees, but "real people" answering the phones
*Company MUST be distributor oriented with income based on volume and not on the backs of distributors in the form of fees etc.
• Key #4: Selecting a sponsor may or may not have a direct effect on your success but, it may definitely affect your failure without the correct choice. Many people in the industry will tell you that your sponsor will not dictate your success or failure in the business and industry. This may be true however; I believe having all of the proper support and guidance is to your best advantage. Once you’ve selected a company then begins the process of determining who is the best fit to have as your sponsor? Is this person currently working the business? Are they successful to the point you would like to be someday? Can you relate to this person and like them? Are they forthcoming with information, knowledge, experiences so that you don’t have to reinvent the wheel but learn from their experiences?
A final and very important question regarding the selection of a qualified sponsor, would you want to take a 30 day cruise with this person? Think about that for a moment and the answer will be very revealing.
• Key #5: In addition to the above, is there a viable and robust training/marketing system in place and a viable and robust team for support and interaction? All of this lends itself to a further advantage toward success provided the previous keys have been taken seriously and good decisions made. You don’t want to be left out to stand on your own but want a group of like minded people to interact and learn from their experiences. You want to feel part of a successful team, almost like a family.
As for the training/marketing system, do you want to have to create that all by yourself or would you rather have it up and running and productive from day one. Look for video and audio training, sizzle lines, 800#s, contact management back office, auto responders, existing sizzle messages, emails, and auto responder messages. All of this will save you a great deal of time, shorten the learning curve, allow you to focus on building your business, and increasing your ROI (Return On Investment).
OK then! By accomplishing the above keys you have started out on a strong path to becoming successful in your own home based business in network marketing and MLM. I know this looks like a great deal of effort but starting a business is not a flippant decision and needs to be researched in many areas to give you the best chance of success. Above all, you want to have fun in the process of doing. In a later article I will discuss “learn, doing, learn, and being.”
This is an article I just wrote and submitted for publication today. It is also on my personal blog site.
_________________ Last edited on Fri May 23rd, 2008 06:08 pm by CraigM
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Craig Mattice
Life is NOT an audition!
http://www.aboutcraigmattice.com
My very BEST Business!
http://www.craigmatticebiz.com
See how I deliver happiness!
http://www.craigmattice.com
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Justlive
Member
| Joined: | Wed Jun 4th, 2008 |
| Location: | USA |
| Posts: | 4 |
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Posted: Wed Jun 4th, 2008 08:52 pm |
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I reply this in in a post before reposting it as this topic. There is five key things everyone should take in consideration before you join or even while your in that company.
1. Is the COMPANY soild and finacially stable?
2. Are the PRODUCTS something people want and or need?
3. Is the COMPENSTATION plan generous?
4. Does the company have a TRAINING PROGRAM and can GUARANTEE you success?
5. Is the TIMING right for an opportunity?
If your in a company that can answer these question with a yes then your in the right business. Anyone looking for a new company or searching for joining one. Take the time to learn more about those questions and get the answer. Or you'll just end up wasting alot of your time and money and mlm will continue to be labeled a scam.
____________________
If there was a better way to save you money. Would you want to know more about it? DATCom.ws for your answer.
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alwayshootall
Member
| Joined: | Mon Jun 30th, 2008 |
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| Posts: | 1 |
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Posted: Mon Jun 30th, 2008 07:21 am |
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Google was once my right hand man. How does a cell phone work anyway...Google It. How can I find my ancestors...Google It. Every bit of information I want at my fingertips. Nothing but gratitude for the geeks who designed and implemented such a simple and effective solution to the needs of everyman.
Decided it was time to get serious about my financial future- so I googled making money, home business, double my money, and the like. Opportunities abound- so much so its almost- overwhelming.
A business I can get into profit quickly with, a business I get to meet new people, and a business that will challenge me to build my character and communication skills. Thats what I want out of a business. Network Marketing - looks interesting, Hello again google.
Squeeze page, Squeeze page, enter email to learn more, dont join that!, SCAM!, warning!, See why I left... The marketing is powerful, and distracting. This looks like its turning out to be a very time consuming process...Ah HA! A site that lists all network marketing and home based businesses... Thanks again google.
Last Google search led me here- Now I ask this forum of small business owners-
- What was considered before choosing the business you currently promote?
- Does a website exist, which lists all network marketing companies?
A bit about myself; 23 years old- work 14 hours- 5 days, drive a 2006 Dodge Charger R/T 5.7lt Hemi with White Leather Seats and Lambo Doors. People ask me "how can you afford to put gas in that thing?!" I say, How can you afford to spend your time worrying about gas prices?
I am Money Motivated, Confident, 30k Available Cash To Invest, and want to buy my 64 year old father a retirement home in Iowa in the next 8 months. Middle child, born without a dime and made my own way. Read entrepreneur.com, various marketing materials and Tony Robbins stuff.
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Sixfigures
Member
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Posted: Mon Jun 30th, 2008 12:51 pm |
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Hi! Welcome to the Forum! I am new to the forum as well but not to network marketing.
To answer your question, I am not aware of a website that list all the business opportunities in one spot. Hwoever, I could be wrong. You sound like me when I began my search. I KNEW what I wanted but was VERY overwhelmed in finding it. It took me 6 months. I had a "no" folder and a "maybe" folder.
For me the single most important factor I was looking for was training and support. I was terrified that I was going to invest my money and receive a 100 page workbook on how to get rich on the internet. I wanted to meet REAL associates that were making REAL money! Avoid business owners that hide behind their websites. Sure that is typically how the first contact is made but go with your gut. If you don't connect with that person then move on!
Also important to me was a long lasting and stable product with high profit margins. I wasn't wanting to settle for just making $100 per transaction! I had been there and done that. If I was going to invest my money I wanted my income to really soar!
Those are a few of my tips! Feel free to ask any other questions. In the short time I have been here this forum has been a fantastic resource.
Best of luck in your search!
____________________
Catherine Carter
Helping Others Have The Abundant Life They Deserve!
http://www.financialsecurityfromhome.com
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lwillard
Member
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Posted: Mon Jun 30th, 2008 03:40 pm |
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A few things to look for in a Network Marketing business -
There are several things to consider when looking for a home business.
1. Huge Market
2. Unique, Consumable Product
3. Timing and Trends - Is your product in line with the trends?
4. Time leverage - Network Marketing means time leverage. Build a team, Partner with them and earn passive, residual income.
5. Does your company have pages and pages of policies? And if so why? Will your company allow you to market online, have a personal website?
6. Does your company promise you to get rich over night? If so, run the other way.
7. Your product should be simple. affordable and not require much explanation or educations. Keep it simple.
____________________
BELIEVE Success!
Lisa Willard
http://www.network-marketing-success-tools.com
http://www.onlinecandleteam.com
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networkventures
Member
| Joined: | Tue Jul 1st, 2008 |
| Location: | Florida USA |
| Posts: | 1 |
| Mana: | |
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Posted: Sat Jul 12th, 2008 10:09 pm |
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There are many excellent MLM’s out there to choose from and a lot of not so good ones as well. The question is how do you choose which are the right one for you. The way to do this is research. My wife who is an accountant showed me how to do this. One of her responsibilities is protecting her client. First you want to ask lots of questions. Then go to your computer and do background checks. Go to the city where the company is based and check them out with the better business bureau. Then check out the owner of the company. If he or she has had six businesses in the past ten years this is not a good thing. You should always check out the product. An easy way to do this is to just Google reviews on the product. You will always have negative information about everything out there. But if you dig deep into the information you should get a pretty good idea what people think. You should also ask the person trying to recruit you if they can show you proof of all that big money they are making. Check stubs tell no lies. If you can show thousands of dollars of check stubs you will have that person’s attention. If they are new to the business they won’t have a lot of stubs, in fact they may hoping to sign you up to get their first one.
One thing I know is it is easier to sell a service than a product. If a company sells a product, chances are they will want an autoship, this can be expensive when your business is still small. One thing you don’t want is a garage full of product you can’t sell. I tend to stay away from the juices and the vitamin supplements. This has become a trillion dollar business but the problem is that the market is really saturated. I have several very high caliber network marketers under me who had hundreds of people under them. But they are working under me now. Even if you have hundreds of people under you, you will not make any money if none of them are selling anything. You should try to find an MLM that has an affordable start up fee. Also you should try to find one that has a very easy comp-plan. I have read so many comp-plans that just boggled my mind because they were so complicated. If the company you work for has a very complicated comp-plan then you can pretty much count on having problems with payroll. If the person who is trying to sign you up cannot explain the comp-plan to you this is not a good thing. It is very important that you can understand the comp-plan. You also want to have the lowest possible price on the autoship.
Some MLM’s still do things the old school way. You know what I’m talking about. Write down a list of everyone you know back to kindergarten. Then call, call, call. Then after that do cold calls. Cold calls are a real drag. Trying to get people interested in products they don’t want is a real bummer. And with gas prices the way they are who can afford driving around all day doing cold calls? I suggest looking for businesses that use auto responders and lead capture generators. Companies that use this kind of software are on the ball. These programs bring highly targeted leads to your web site. Leads that are interested in the products or service you have. If your business does not use these programs then you will have to buy them at considerable expense. Businesses that already have these programs may charge a small maintenance fee but I think it is well worth it. These programs save much time and leave you free to do other things. I have many friends who get all their leads off the internet. They do no cold calls at all and do a great business just by using these programs. Right now I am getting over the learning curve. Some of these programs are not real easy to learn and I am not that great on the computer. But I am determined to learn how to use them because I know how much they will help me. One thing I am sure of though is that these programs are turning my business around. Soon I will be bringing in much larger pay checks like so many people I work with. The way of the future is using these software programs. They are getting better and do much more. So if you join an MLM that does not use these programs you can count on doing things the old fashioned way or put out the money to apply these programs.
Another thing to consider is new start up companies. It is a fact statically that almost all new MLM’s fail in their first year of business. If you feel real good about the business then go for it. But just remember that you will be going through the growing pains of a new business. There will be problems with payroll, shipping etc. But if you have the patience to weather these problems then your payoff could be considerable being on the ground floor.
So what are you waiting for find the MLM business that works for you and get started. One thing to keep in mind is that an MLM is a real business. They take time to build and you must work them like a real business if you want to gain any real success. So find one and get started and live life abundantly. Take your time and don’t let anyone pressure you. Do your homework and get started. Work it hard and life can be good. Just remember anything worth having is never easily obtained. It takes work and dedication. But it is so much better being your own boss than making someone else rich. Just remember is won’t happen all by itself you’ve got to work it!
____________________
If your already rich don't bother clicking here: http://www.Global-Travelpros.com .
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FreedomFire
Administrator
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Posted: Thu Jul 17th, 2008 08:57 pm |
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Some really good information on this thread.
But you know, sometimes it starts to sound like a lot of "theory". Getting really analytical about how to pick the company... product... comp plan...
Many new people can get analysis paralysis and not do anything with so many things to consider...
Makes me wonder, in the "real" world out here in the online marketing field, how many people realistically consider half of all this?
In my experience, the people I see that are succeeding and making consistent profits are not really that analytical at all.
They "do" marketing, networking, pipeline filling, fine tuning marketing systems...
They're doers. I don't believe they spend a lot of time analyzing dozens of details regarding their business at all.
In the end most people looking for a home based business, are not all too concerned with soap, seminars, personal development, candles, software, etc...
They want to learn how to make money from home, preferably online.
I think keeping it simple is better.
In reality, most people do terrible in MLM. They may have a lot of passion for their product, company, etc...
But they're making no money.
Most comp plans need you to drive LARGE numbers just to make decent money.
And the average retention rate of new recruits in most MLM programs is now at about 90 days. Meaning, your new people are quitting or moving to other programs faster than you can replace them.
So, I don't really buy into a lot of over analyzing.
I focus on learning to improve my marketing skills.
Things change so fast on the net, we need to constantly learn new skills.
So, in the end the real questions I believe people are probably asking themselves (especially if they've had some experience in MLM or online marketing) are:
- How many sales do I need to make to profit? or How much do I make per sale?
- How big of an organization will it take to "really" make money ($5,000 + per month)?
- How big is my target market? (and .... who are they and how to I best reach them?)
- How well does my marketing/prospecting system convert?
- Is it duplicable?
- Really, how much money do I need to invest in marketing to get real, consistent results?
Most of these questions are "business person" questions. If you are targeting total newbies with "employee" mindsets, you'll have lower conversion rates.
But if you have a method/system that pulls well and delivers solid compensation for your efforts .... you can target a large and growing market of savvy, experienced, corp america burned out people who are looking to make "real" money online.
This may be a totally different market however. And they don't really seem too interested in traditional MLM where the payout is much less and it takes large numbers just to make small checks.
So I think the question for the near future will be...
Which home based business market do you want to compete in?
The one where you have to sell a lot to make a little?
or
The one where you make fewer sales but make more money and attract a more "business mindset" market?
It's what I've observed lately in the field... we really have different worlds in our industry right now...
Interesting stuff though!
God Bless,
Michael
____________________
*..Best MLM Resources..*
Commission River = MORE $$
"How To Have A Custom MLM Website"
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hightrustnetworkmarketer
Member
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Posted: Fri Jul 25th, 2008 06:10 am |
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One of the keys to success in network marketing is choosing the right company for you.
As I search the internet, almost all of the guides on choosing the right company I've been seeing point out eventually to the company the author is promoting.
Do you know where I can find an objective, third party guide on how to choose the right company, a guide written by someone who is not promoting a particular bizopp.
Thanks.
Jose
____________________
Praying and Working for a Breakthrough? FREE Report: 10 Key Strategies for Any Business Owner to Earn More, Work Less, and Enjoy Life without Compromising Your Values. http://hightrust.wordpress.com
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