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October 26, 2007
Residual Income
You really truly should have a burning passion to build a lasting residual income. What does income mean to you now? It means having the money to eat, have shelter, pay living expenses. You need a constant income to meet your needs and be comfortable.
Mostly people's income is obtained from the work they do, the hours they put in to a job. That situation poses problems. There is a real danger, which is also a common harsh reality many people have found themselves having to unexpectedly go through. Perhaps you right now are in the condition of being in between jobs.
Many have faced the tribulation of lost income. It is a dire situation that happens through being let go by your employer for any number of reasons or no reason at all.
Downsizing, cutbacks, firings, weeding outs, whatever. Maybe you did something wrong. Maybe you did not. Maybe you got too close to retirement age. Maybe you got too worn out to keep up with production - getting overworked takes its toll. Maybe you've gotten ill, injured, or otherwise disabled.
In any case, having to work for a living means you are expendable and can be let go at any time. After all, there is an abundance of the unemployed looking for work. There is also an abundance of people who cannot make ends meet having just one job and need to get a second or even a third one.
Having reliable income is a very scarce and volatile thing. Many are struggling just to make it from paycheck to paycheck. But even the biweekly paycheck can be here today and gone tomorrow with little or no compensation available for the loss. What to do then?
What you have to do is not wait for then. Make things happen and grow rather than just maintaining yourself in a dead end job. The economic stability you get from working for others is transient. The reward and stability you get from working for yourself creating residual income can be great and lasting. It will also eliminate any worry about retirement finances.
Network Marketing your own Independent MLM Home Business can give you the security we just cannot get from regular jobs anymore, let alone the abundance and prosperity we have never been able to get from regular jobs. It allows you to build residual income, override royalty income that will keep coming in even when you quit working.
There are plenty of legitimate MLM Business opportunities for you provided by companies who see Network Marketing as an ideal distribution system for their products and services. Investigate them. Do your due diligence and see if you can find one you can get impassioned about. Then share that passion with others and be set for life.
"Network marketing has proven itself to be a viable and rewarding source of income, and the challenges could be just right for you. There have been some remarkable examples of success, and those successes have been earned through diligence, enthusiasm and the right product combined with timing." -Donald Trump, famous real estate developer, star and co-producer of the hit television show The Apprentice
"I am often asked if network marketing is a pyramid scheme. My reply is that corporations are really pyramid schemes. A corporation has only one person at the top, generally the CEO, and everyone else below. A true network marketing business is the exact opposite of a traditional business model. The network marketing business is designed to bring you to the top not keep you at the bottom. A true network marketing business does not succeed unless it brings people to the top." -Robert Kiyosaki, author of the New York Times and international best-seller listed book Rich Dad Poor Dad
Those two quotes from the "Your Business" volume 2 issue 2 article called, "Why We Recommend Network Marketing" by Robert Kiyosaki and Donald Trump shows that MLM has really come of age and is worthy of serious consideration. They also provide ammunition to prevent naysayers from dampening your enthusiasm.
So what do you want to do? Stay poor and keep getting poorer working for someone else? Or get RICH in Network Marketing!
Posted by mlminternetcoach at 09:00 AM | Comments (0)
October 10, 2007
MLM Prospecting On Steroids
As a network marketer, you know how important it is to drive traffic to your website. As a matter of fact, your very survival depends on it.
There is an often over-looked area of marketing that is ignored by many in network marketing. This area is offline marketing. While the Internet is a source used by many, there are also thousands of prospects that can be presented with your MLM business opportunity through offline sources. Here are eight offline strategies that you can use to expand your network marketing prospects, and, in turn, explode your business.
1. Use a small zip close bag and include, for example, the following in it:
a business card
a business opportunity flyer or mini flyer
a discount coupon
a mini flyer of current special
Hand out the baggies to bank tellers, retail cashiers, at your kids sport events, etc. In other words, everywhere you go! This is a quick and easy way to let folks know what you are about.
2. Print flyers with your contact information, your website address, and email address, along with any current specials you are offering. Then, contact mobile home park offices, apartment complex rental offices, housing developments, etc., and ask for permission to leave flyers in their office or hang on tenant doors. You would also give the office employees a free gift or discount on your product or service.
4. Contact your local bridal supply stores, bridal gown stores, caterers, tux rental centers, wedding DJ's, etc. When contacting them, ask if you can leave your business card with them as a flyer for their customers to pick up.
5. Don't overlook daycare centers! They are excellent places to contact and leave business cards and/or flyers. Make sure that for whatever company you represent, you find items that cater specifically to children or moms. Make sure your flyer clearly shows this.
6. Contact your local churches. A lot of churches hold spring and fall festivals, Christmas bazaars, plan special events around Thanksgiving, etc. Contact them about getting a table or booth. This is a very inexpensive way (generally less than $15 a table) to promote your network marketing business.
7. Connect with your local Chamber of Commerce. Many times they hold local business events that you can participate in.
8. Do you have a college in your town? If so, great! College students are always looking to lose weight, spend money, and for more ways to generate extra income. Remember, how broke you were in college? So, students are also great prospects for your MLM business opportunity.
As you can see, this is just a small list of endless strategies that you can use to market your business offline as well as build a great MLM prospect list. Try one or more of these strategies to start off with, and watch your network marketing business explode!
Posted by mlminternetcoach at 09:29 AM | Comments (0)
October 06, 2007
Your MLM Compensation Plan
In network marketing, there are many types of compensation plans. Unfortunately, many people do not take the time to study the advantages and disadvantages of each plan. Failing to do so can be a costly mistake and result a struggling MLM career. Many failed to do this and end up quitting due to sheer frustration.
Since you don't want to end up like this (in the group of quitters), and to avoid wasting your time, effort, and money in a plan that won't work for you, it is vitally important that you take the time to study your plan. Here are the advantages and disadvantages of four primary network marketing compensation plans.
1. Stair step breakaway. The advantage of this compensation plan is that you can go as wide as you want. If you have 50 people, everyone can be placed on your front line. If you have 5 out of the 50 people who are doing well and want to really build, you can build 5 legs underneath them and not really worry about what everyone else is doing.
The disadvantage of this plan is that if you place a heavy hitter under a dud, you won't qualify for your company's bonuses and commissions. Also, the fact that there is a break away component isn't good. For example, if you have 5 legs with 10,000 worth of volume in each leg, when your downline reaches a particular volume, they can break away. Sometimes, this can be as much as 10-12% of your volume. Other times it can mean losing all the volume. This is not a pretty picture is it?
2. Matrix. Matrix's can be 3x5's, 5x7's, 3x9's, etc. For example, if you are in a 3x5 matrix, you can have 3 people on your frontline and can go 5 levels deep. Many times with a matrix, there will be a lot of talk about "spillover" which sounds wonderful to many people.
All the "spillover" talk leads right into the disadvantage of a matrix. You see all the "spillover" mumbo jumbo really promotes a welfare mentality. People think they won't have to do any work. As professional network marketers, we know this is not the case! It's not a "sit back and let all the people come sailing in" type of business. You have to build relationships and talk to people.
Another disadvantage of a matrix is that you have to guard your front line positions very carefully. These positions are really like gold. If your upline sponsor puts a dud in your frontline due to "spillover" and wants you to build for them because you are an awesome builder, you're toast! Make sure nobody ever does this to you.
Also, it's very likely that you will be able to build deeper than 5 levels. Unfortunately, with a matrix, you won't get paid on volume for the levels that go below our example of 5. This is not a good thing at all!
3.Aussie 2-UP. It isn’t known where the word "aussie" comes from, as this doesn't really have anything to do with Australia. Anyway, in this plan, you would give the first two people you sponsor to your upline. Everyone else you get to keep. The advantage of this type of plan? Hmmmm, let's see. Zero!
Since the industry standard is that most people only sponsor just 2.7 people in their network marketing company, can you imagine having to give them away right from the start? Ouch! Now, if you are a hard-hitting, sponsor monster that loves to sell big ticket items as promoted by many aussie 2-ups, this is the plan for you. For the rest of us, this just doesn't work.
Keep in mind as well that with aussie 2-ups, there really is no residual income. The day you stop selling is the day your income stops. So, carefully evaluate if this is the type of plan you want to commit to.
4. Binary. This plan promotes two legs. The advantage with this network marketing compensation plan is that it pays on volume and you can build the two legs as long as you want. The disadvantage is that you have to balance both legs and the pay is based on the legs being balanced.
You have probably heard people bragging about having thousands of people in their downline with this plan. What they don't tell you is that they are barely making any money because all the people are in the strong leg. They also don't tell you they are struggling to build since they can barely get the weak leg moving. Unbalanced legs equal no money! Keep this in m mind when you look at a binary MLM compensation plan.
As you can see, there are clear advantages and disadvantages with these four networking marketing compensation plans. Now that you know what they are, you can make an informed decision about what type of plan will work best for you.
Posted by mlminternetcoach at 02:16 PM | Comments (0)
