MLMs: An Answer to These Economic Times
By Bess McCarty
Reprinted from the December 2010 issue of the Network Marketing Business Journal,
the industry’s oldest, largest newspaper for network marketers.
In these times, many people wonder if they will be laid off, or how they will manage
inflation or retirement. Some want a Plan B, and some have found one with network
marketing. They may start a business as a backup while working, or upon retiring.
Although there challenges to multi-level-marketing businesses, I’ve collected a list of
advantages for those considering one.
Answer to recession:
It can provide job security backup in these uncertain times.
You can grow this business while you keep your current one.
No pressure to succeed within a certain time. Work at your pace.
Replace your current career with one you love.
More job security working for yourself than working for someone else.
Answer to inflation:
Extra income to fight the cost of living growing faster than people’s cost of living raises.
Low startup cost and overhead. Low risk and investment.
Training provided. Almost anyone can do it.
Can work from home, saves the environment, cost of work clothes, driving time.
Allows parents to be home with their children, without childcare costs.
Grants you freedom of time. You set your hours.
Busts past the “work per hour or service” limited income model.
You can make more money in less time, something EVERYBODY wants.
Income and fulfillment are virtually unlimited. There is no ceiling.
Answer for retirement:
95% of retirees lack adequate funds.
Seniors who need jobs are having a hard time finding them.
Answer for aging parents who need more money.
Provides a monthly income when you don’t have capital to invest:
How long will it take you to save $50K to get $200 interest a month income from it? vs.
How long will it take you to build a $200 a month income from an MLM business?
Security for illness:
Keep getting paid by residual passive income.
Perfect for the disabled with a phone and computer.
Tax deductions and benefits
Freedom from negative bosses.
This is your business. You create it the way you want.
Operates by word of mouth, the best and cheapest form of advertising
You grow by becoming a manager/coach, and helping others succeed, vs. making a profit off their low-income labor.
It’s built on support vs. competition, as in corporate.
You have support as you change from employee thinking to business-owner thinking.
You are not alone. You have a team to rely on.
Endorsed by Robert Kiyosaki, Donald Trump, Warren Buffett, Jack Canfield, and President Clinton
Built giant empires. (Look at Mary Kay)
You can involve the whole family, and teach good work values and habits and vision.
If you enroll family and friends into the business, your company conventions become family reunions!
You can leave the business to your family in your will.
It’s a lot of freedom: more money, time, creativity, and fulfilling service to people.
How to Choose a Network Marketing Company
By Bess McCarty
Before you invest your time, energy, and money in building a team within a company, check them out:
1. What is the integrity of the company? Are they really service-oriented for the long run, or do they want to make a profit and go? Do they really help people? What feel do you get?
2. Is the product or service right for you? What is your experience of it? Do you love it? Would you recommend it to your mother? Is it good quality and price? What is their guarantee or repair policy?
3. Is it at least 5 years old? Had a chance to gain stability and work out kinks? But young enough for you to be be among the first 100,000 distributors? If it’s a new company, have they had network marketing experience before so you won’t be part of their learning curve?
4. Does it have good leadership? Check the background of their management team. Ask current distributors if they train, are dependable, consistent, and there for them? If you are considering a certain sponsor, ask their down line if they also are these things; do they coach them, are they in it for the long haul?
5. Does the company advertise? Have good media exposure, or even better, endorsement by a famous person?
6. Is the start-up fee low? Do you get enough materials like products, samples, and literature?
7. Does the marketing system take full advantage of technology? Good site, conference call training, opportunity calls for your prospects, online sales and distributor sign-ups, online support and tracking?
8. Is it well-capitalized? Ideally, no debt. A publicly traded company must disclose every 90 days.
9. Do they strive to improve and add to their existing line? What is their shipping track record?
10. Can you choose to work part-time or full-time? Can you take your time without feeling pressured?
11. Is the compensation plan fair? Is it simple to understand and explain? Can you make immediate income to finance your expansion? Are there bonuses and incentives? Is it competitive with similar products and companies? Does the company pay on time according to their policies? Is the plan stable, or change a lot? Not a pyramid to pay you for just signing people up? What are the minimum sales required?
12. What are your expenses? What do you pay out? Any fees or other hidden expenses? Monthly gas, lunches, or advertising expenses? What % is your profit?
13. In their “Policies and Procedures”, check that they have no clauses that allow them to: 1) take the company retail, or sell it to a retail company, 2) reduce your income by changing comp plans, 3) terminate you w/o going before a board of their peers.
What People Want
By Bess McCarty
Did you see that Mel Gibson movie, “What Women Want?” He was this guy who could read women’s minds and say just what they longed to hear. Kind of a super secret weapon that got him the girl.
Well, you can do this too with your prospects. Only it comes by listening. And asking the right questions.
See the Teleclass Archives here in the Club: and get the audio: “What Do You Do?”
Once you understand what people want, you can be the answer to their problems or goals. People buy products and services that move them toward pleasure or away from pain. So listen for their values and problems, and see how you can help them solve their problems or reach their goals.
That’s what people want to hear: for you to talk to their concerns.
So, from my coaching questions, surveys, and polls, here’s my list of what people want that your business opportunity may be able to solve:
Pay off all their debt
More time and energy for their loved ones.
Quit their job.
Start a retirement plan.
More options in life.
Put kids in private school or college.
Buy a new car or home.
Take great vacations.
Support a charity.
Care for a parent.
Time to volunteer.
Time for creative endeavors.
Live where they want, how they want.
Healthy weight and fitness.
Freedom from illness.
Making a difference.
How do you help people get these things? These are their “Why”: Why they would want to do your business.
You can ask them, “What is important to you? What would that bring you? How would that change your life?”
These are questions that help them uncover the strength of their motivations, and see much they are willing to work past the inevitable obstacles that will come.
What else do people need and want? See the third box of this chart: http://www.mlmmillionaireclub.com/wp-content/uploads/2010/06/Real-Conversations-2.pdf
And see how your business helps people meet these needs.
It will change your business.