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May 27, 2006
The Reality of Multi Level Networking
MLM or Multi Level Marketing offers loads of business opportunities for a business owner, distributor and a consumer. There have been many popular myths on MLM. Some of these myths include the potential to earn mega-dollars for little or no effort on the part of the distributor. This is far from the truth.
MLM as a multi level marketing system works well for business expansion. The chain of distributors gets the business in return for commissions. The consumers can get a better deal by buying at wholesale prices when they become distributors themselves.
The whole concept of MLM is based on the very basics of the term "business". Under the system of MLM, goods and services are distributed via various sublevels in the form of distributors and reach the end-user consumer via this chain of distributors. This system is providing extra income opportunities to thousand of distributors all around the world. Statistics reveal that in the 50 states in America and in over 100 countries world wide, the business model of MLM is successfully functional.
If you are a distributor and looking for a business opportunity using the MLM structure you may want to look into online MLM options.
To work effectively in an online MLM model, you just need to exercise a bit of caution before venturing into a program. This saves you from fraud which is prevalent in this business. Look into companies that have a proven track record. Companies that are debt free and that have been successful in using the MLM structure as their business model for a considerable period are good candidates to consider. Being part of a reputable company ensures your profits and potential loss are kept at minimal risk.
Keep in mind that this type of business is not for everyone. If you are a self-directed person who is full of enthusiasm, online MLM may be suitable for you. You will certainly be your own boss in this venture. The personal qualities needed to succeed in this business are similar to that of being an entrepreneur. The challenges of an MLM business are dynamic and a self directed person would thrive in such a business model.
Lastly and certainly not the least, this business allows you not only to work from home but also when traveling. You can easily do business using a laptop and an internet connection. If you are person on the go this could turn out to be a profitable venture as your potential to earn is related to the flexibility that the business model provides.
Posted by mlminternetcoach at 09:35 AM | Comments (0)
May 24, 2006
Lead With Your Product
You have seen the ads: “Join now and you will make over $5,000 per month with virtually no work” or “We will build your down line for you”. Or have you heard this one: “Six figure network marketing expert will teach you how to earn a six figure income in XYZ Company.”
Each of these ads is promoting a business opportunity. The opportunity is the main theme of the ad. The product, if mentioned at all, is a secondary concern.
Ads that stress products are completely different. They tell you of the benefits of a product or service, stressing how using the product or service can change your life. Often the opportunity is not even mentioned in the ad.
What do you do when you tell someone about your networking business? Do you tell them how much you are making, or perhaps how much the golden diamond above you is making, or do you tell them about the products and what they have done for you?
Which of these two ways you use to approach prospects will make a tremendous difference in the future results of your networking business. Those who use the opportunity approach can build a large organization fairly fast. Leading with the product or service may take longer. However, the strength of the organization will be much stronger by leading with the product.
A tree that grows very fast has soft wood. It is easy to damage or destroy. A tree that grows slowly has a hard wood. It is much harder to damage or destroy a hard wood tree. Also, the slow growing hard wood tree will generally live much longer than the fast growing soft wood tree. Do you want your network organization to be like the hard wood or the soft wood tree?
When you lead with your product or service, your prospect will join based on your personal testimonial. If they use the product and like it, you then have a strong member in your organization. They are using the product and will likely continue to use it for a long time. Some of them will also participate in the opportunity, and some will be satisfied just using the products. Either way, they should be a fairly solid member of your organization. And they will probably follow your example and also lead with the product.
When someone joins your program based on the opportunity, they immediately have an expectation of what they will make. Usually that expectation is unreasonably high. They will also lead with the opportunity and recruit opportunity seekers.
Most of those that join based on the opportunity, will become frustrated after a few months because they are not making all of the money that they expected. Then they will hear of a new opportunity and will jump ship. Each time this happens your organization unravels some. Every time someone quits, others wonder why and some of them may also decide to quit. You keep getting holes in your organization, which results in an unstable organization, and its gradual collapse. Eventually you will also get frustrated and quit. In the meantime, the person that is leading with the product will slowly be building a strong organization.
Posted by mlminternetcoach at 04:15 PM | Comments (0)
May 23, 2006
Making Your Home Business Work!
Running your own home based internet business is a piece of cake. Right?
You've probably heard how easy it is to rake in tens of thousands of dollars practically over night, and how you can have all kinds of "free time" and extra cash for traveling and shopping at your favorite store...
Just throw up a web site, add a few affiliate links, post to some forums and presto - you're in the money!
But the reality is this. If you want to succeed in your own home based internet business, whether it's affiliate marketing or selling your own products, you will have to work at making it successful. You have to make it your job to succeed. You must treat it as your job, not as your hobby.
It's great to think that with just a few easy strokes you'll be running on auto-pilot, bringing in loads of cash and then on to the next venture. But without some simple planning and consistent effort you're setting yourself up for failure.
Here are a few tips to help you get started.
STAY ORGANIZED
Set up folders in your email client.
You should set up a folder for each contact and keep important correspondence while deleting what you don't need. If you belong to membership sites that require passwords, keep the "welcome" letters where you can find them.
Set up folders on your desktop.
If you download a lot of software, ebooks or PDF books from specific individuals simply name a folder on your desktop after the author or site owner. Then when you download something you can place it in their folder.
Make your own HTML home page.
For quick and easy access to all your important sites make up an HTML page with hyperlinks to your most frequently used sites along with a brief explanation of each site. Keep it on your desktop for easy access.
STAY FOCUSED
Set aside a specific time for work.
It could be from 7pm-9pm every day or whatever time's good for you. During this time do not get distracted from doing only what needs to be accomplished for your business. Try to use the same time slot every day so you get into a routine and get used to the working mindset. Save the surfing for another time.
Set aside a work space.
Make sure that all your friends and family know that when you're in your work area you're off limits! No one's to bother you.
Finish one task before starting another.
As the old saying goes, "Put one foot in front of the other." Don't start working on something new until the first task is completely finished.
BE CONSISTENT
Work the ideas that "work."
When you find something that works well for you work it hard and get as much out of it as possible. If you're submitting articles to a certain site and they're paying dividends, keep feeding the cycle.
Learn from failure.
Don't get discouraged. Each failure's just a learning process. Use any failure to your advantage by taking the lesson and applying it to your next venture.
Test, test, and more test.
Always test headlines and ad copy. A small change can reap huge rewards.
With these few simple steps you will stay organized, stay focused, be consistent in your efforts and build a solid foundation on which you can build your internet empire!
After all, you are the one who will ultimately determine the success or failure of your business!
Posted by mlminternetcoach at 12:01 PM | Comments (0)
May 22, 2006
The "Networking" Part of Network Marketing
Networking is obviously an essential part of network marketing. Every successful network marketer knows this to be true. Although networking is such an intricate part of network marketing, the two terms are not synonymous. However there are many similarities. Both rely heavily on people skills. Both require people to confront their fear of talking to other people. Both carry with them the risk of rejection. Both also carry with them enormous opportunity. And to some people, both are considered dirty words.
Of course people that consider networking as something that is 'not done' don't understand what networking is really about. The same can be said of people that think network marketing is something that is beneath them. Many people think of networking as a way to get connected solely for their own advancement in life. In that respect a person might feel that it is unethical or not noble to network.
This line of thinking stems from the idea that advancement will always come at the expense of someone else, that success in life is a zero-sum game. These people often look at network marketing from the same perspective. They think of profiting from other people's efforts as something that is negative and not fair to them.
In reality, successful networkers will tell you that it doesn't work that way at all. Networking doesn't have to be at anybody's expense and the business of network marketing doesn't reward anyone for taking advantage of others. It actually rewards people for helping other people to succeed. In that respect it may very well be the most ethical business model in the world today.
A lot of the negativity around networking can be explained by the different types of networkers. Some can be considered 'hunters', moving in for a quick kill, after which they move out again. They often operate without regard of the other persons interest and because of this they will enjoy the fruits of success for only a limited period of time.
Often it will not take long before people find out what's really driving the hunter. Once they see that he or she is only looking after his or her own interests, their willingness to interact with this person will quickly evaporate. By contrast, truly successful networkers are often 'farmers' who spend a lot of time sowing and nourishing their relationships, instead of just focusing on reaping.
They invest in their network, they energize their network. They use their network, but they never ever abuse their network! And their network knows this. A true networker will always keep the interests of others in mind. That's why working with a true networker is so enjoyable. Networkers are often very likeable and as such people like to interact with them.
Networking is a skill that is essential to all businesses not just network marketing. Although network marketing differs in many ways from the more traditional forms of doing business, the importance of networking is just as prevalent. If not more so. A network marketer that doesn't know how to network will be out of business in no time. Network marketing is first and foremost a people's business and this implies that the ability to effectively work with people is absolutely critical.
This is why successful network marketers are extremely adept at networking. Many have found out over time that developing this skill can pay off in many areas outside their network marketing business as well. Business owners who have started a home based business on the side often apply their enhanced networking and people's skills in their traditional business with great success. For some network marketers this spin-off has earned them more money than the income from their network marketing business itself.
So whether you are in network marketing or in a more traditional type of business, don't underestimate the importance of becoming an effective networker. And if you really want to master this skill you may find there is a lot to learn from good network marketers. So if you happen to know anybody that fits that description, try and benefit from their knowledge on the topic. It will surely help you network your way to success!
Posted by mlminternetcoach at 03:11 PM | Comments (0)
May 20, 2006
Is Network Marketing the "Perfect" Business?
It is often said that network marketing is the perfect business. It seems logical that many people in the business say this, since a statement like that could draw new people into the business. "This really is the perfect business!" could be just what your prospect needs to get the courage to make the decision and join your network marketing company. But is that all it is? Just a great statement to be used in an attempt to close people, or is there actually any truth to it?
Of course not everybody shares this positive image of the industry. Many people think quite the opposite of network marketing. Busloads of people would laugh when someone would refer to it as 'the perfect business' because they don't even consider it a business in the first place. They might still have the picture of a bunch of housewives gathering around the kitchen table to sell each other plastic cups and lingerie as a hobby. Obviously not everybody evaluates a business by the same criteria but with global revenues exceeding 100 billion dollars it just doesn't fit the description of a hobby anymore. It's serious business.
Fortunately a lot has been written on the subject over the years, by people outside and inside network marketing. Robert Kiyosaki is a good example of a successful entrepreneur and best selling author, who has not made his fortune in network marketing. He isn't even in the business. But he is a strong advocate of the industry because of its power and potential. He also explains why, in his opinion, this industry offers the best chance of success for an individual that wants to start a business these days. He claims that network marketing companies have a system in place, much like a franchising formula, that have proven to produce results if you stick to the system.
So if we have established that network marketing is indeed a business, the question still remains: "How perfect is it?” To answer this question let's look at this from the perspective of someone that wants to go out and start a business.
If you were to start a traditional type business the first thing you need would probably be money. In many cases a lot of it, so you would need to talk to a bank. Of course this bank is not just going to throw money at you until you convince them that your business has a good chance of success and that you are a good candidate. You may even have paid a professional to put together a solid business plan. So before you make your first dime, you are spending valuable time and money to even be considered to get the money you need from the bank.
Now let's say you qualify and you get the money from the bank. Then you go out and start your business. You rent the space for your store or office and in doing so you have to put down a deposit for the first month or two and you probably have to sign a contract for a minimum duration of your lease. This will account for at least a couple of thousand dollars. Then you have to get the furniture and equipment to make your business actually look like one. Depending on your type of business that can range from hundreds to many thousands of dollars that you must spend just to get your business up and running.
Of course it doesn't end there. You'll have to take care and pay for: insurance, advertising, accounting, legal fees, taxes and a bunch of other things that you may not have anticipated, but will prove to be necessary nonetheless. In most of these cases it will take someone else's knowledge and that someone wants to get paid for their service.
Now you may realize that with all of these things to take care of you're required to work your business full time. And this is not full time like 40-60 hours on a job. Most entrepreneurs work 60-80 hours or more per week. Still, you can't be in the store all day and do it all by yourself. So you decide to hire someone to help out. Here comes the nightmare of all companies: employees. They'll work hard when you're there and slouch when you're not. When they show up late or call in sick, you have to open the store. And they'll never work as hard as you do, because it's not their business, it's only their job. Nevertheless you must pay them before you can even pay yourself.
And then we haven't even discussed all the outside factors like: competition, government regulations, technology, city circulation plans, customers that refuse to pay and too many more to mention. A change in any single one of them could put you out of business in no time. The sad truth is that over 90% of all new businesses go out of business within the first five years of their existence. Yet how much money do you put on the line to have a chance in a business like this?
Now let’s compare this with the business of network marketing and see what the differences are. If you start your own network marketing business the initial investment is very low; probably less than $500. You don't need an office or a store to rent because you work out of your home. There is no need for extra insurance, legal fees or expensive marketing advice, because all of these things are taken care of by any good network marketing company. Most companies also offer valuable training at minimal cost that will vastly increase your chances of success.
You can start your business part time and you can work when and where you choose. Perhaps the most important advantage of the network marketing business model it the leverage is offers. You can leverage yourself by sponsoring others into your business and helping them build a business for themselves. Yet these people on your team are not your employees, they each have their own business. Therefore they'll be more motivated to work because they are not working for you, they are working for themselves. This way you can build a network of thousands of independent distributors scattered all across the globe through different levels in your organization that you can benefit from. It's like having thousands of stores all over the world without having to pay rent on any of them.
Does this make network marketing perfect? No, of course not. Nothing is perfect but anyone who seriously evaluates network marketing can't help but come to the conclusion that it offers some remarkable advantages over traditional business.
Posted by mlminternetcoach at 10:49 AM | Comments (0)
May 13, 2006
Network Marketing - The Ultimate People's Business
If you've ever heard of Network Marketing, you've probably heard it said that it is essentially a people's business. Some have also labelled it a people's franchise because of the similarities between the business models of network marketing and franchising. Advocates of the industry name it as the ultimate people's business and say there is nothing quite like it.
Of course people that are in network marketing will immediately respond positively to this whereas those that are not familiar with the industry, or have had some bad experiences might be strongly opposed to this idea. One of the unique characteristics of this type of business is that every individual distributor is in business for themselves but never by themselves. They will always be part of a larger organization and the compensation models are designed in such a way that every person can count on some form of support from their upline.
It is no secret that fortunes can be made in this type of business and many have done just that. Of course this is not the majority of network marketers, but every individual distributor does have the same chances. Success or failure in network marketing is not dictated by politics, race, age, background or gender, but always by results. In that respect it is probably also the fairest business model in the world.
For many people however the true value of their home based business is not directly in the financial return. The lessons a person can learn while building his or her own network marketing business are truly priceless. Many people are totally transformed through the personal growth they experience as a direct result of their challenges in their MLM businesses. It forced them to get out of their comfort zones, grow, and in many cases become a better person.
So what is so unique about network marketing in this respect? Doesn't every entrepreneur have to deal with challenges? The answer of course is: Yes, they do. And they also experience personal growth as a result from this. However there is a significant difference. Most entrepreneurs are self made and many of them learned their trade largely outside of formal education. Either they were taught by a family member, a mentor or perhaps they learned everything the hard way: by trial and error. Very rarely will you find an entrepreneur that has an extensive library of books and tapes on personal development. Most businesspeople don't attend seminars and motivational trainings. They think it's all a bunch of hype. While in some cases this can be true, there are many trainings and seminars that teach the principles of success better than any textbook found in business schools.
One of the great things about network marketing is that this type of education is built into the training systems of all good companies. There is no business on the face of the earth that places such a strong and direct emphasis on the importance of personal development as the network marketing industry. Many companies might argue that they spend a great deal of their budget on education; training employees and as such assisting them in personal development but in most cases what they are actually talking about is personnel development. Although the words are almost identical, their meanings are vastly different.
Network marketing is all about building people. It is probably the best school on the planet if you want to learn about what it takes to be successful in life and you don't need rich parents or some kind of scholarship to enroll.
Bill Enross
InternetIncomeSolution
Posted by mlminternetcoach at 04:35 PM | Comments (0)
May 11, 2006
How You Can Make Residual Income from Home
Would you like to make money even when you don't go to work? The secret is to have your work continue to pay you even when you stop. A machine that once started continues to operate even when you aren't there. It's called residual income, and you can make it too.
Residual income means that once you have set the wheels in motion you can continue to collect money - possibly forever! Who wouldn't want to have a business that puts money in your pocket day or night, whether you are working or not?
Is residual income only a dream? For many enterprising individuals it is not just a dream - it's a reality. The concept is simple - Do the hard work first and collect on it indefinitely. By understanding the business models that this principle applies to you can also start making residual income.
CREATE A PRODUCT FOR OTHERS TO SELL
Writing a book tops the list for one of the most popular methods of creating residual income, but you can also create other products such as software programs or even a physical product. The key is that you want the business as automated as possible so that once you've set it up you don't have to continue working as hard.
How does it work? Traditionally if you write a book you sign with a publishing company for royalties or sell your book yourself. The hardest work is creating the book. However, once the book was finished you can continue collecting profits on every sale.
The same is true if you choose to sell a product that is made and delivered by another company - often called drop shipping. By creating a sales page on the internet that will appeal to your audience you can continue to collect profits on the sales of your product or book without having to do the work each time.
If you have a special knowledge about a particular topic, or if you are skilled at research and writing, you can likely find a topic worth writing about. If you need to sell with little overhead you can even write a book in PDF format that can be downloaded rather than traditionally printed and shipped to the buyer.
If you choose drop shipping of a physical product, find something you can create an interesting website around. Share lots of information with the prospective buyer and create a professional sales page. With the proper combination of marketing skills and interested customers you can create a system that works even when you don't!
REFERRAL AND TIERED AFFILIATE PROGRAMS
Many online business use affiliate programs as an easy way to create a sales force. If you are good at promoting a program or product to others you may find that you can generate profits from a second tier sales force that you recruit.
This form of residual income is also common in other businesses including selling makeup, natural cleaners and insurance products. Whatever your passion there is likely a business that will appeal to you.
Once you've created a sales force you can start collecting a percentage of their sales. With hard work and dedication you may be able to rest from your efforts while your team continues to work for you. Creating your own book or product AND recruiting a profitable sales force combine for the ideal business model for making residual income!
Bill Enross
Executive Business Opportunity
Posted by mlminternetcoach at 08:13 AM | Comments (0)
