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beren
Member
Joined: 14 Apr 2007
Posts: 2
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# Posted: 14 Apr 2007 12:47
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I recently read a thread from a gal who was frustrated with the industry but at the same time in love with its potential. I don't think anyone who has been in MLM for a while has not felt this way. I thought I'd post my reply to her with the hope it may help others.
Dear (Reader),
I really felt your pain as I read your thread. I myself am a single stay at home dad, and I homeschool my children as well. Network Marketing has enabled me to stay at home and pursue my financial and personal goals.
Don't give up on Network marketing. It's a proven method and is endorsed by the likes of Kiyosaki, Trump, Warren Buffett, Paul Zane Pilzer and other financial leaders.
That being said, not all NM companies are created equal and thereby their opportunities are not created equal. Just as not all companies are created equal in any industry. For example, there's a reason Kmart is closing stores and Walmart is openning stores.
90%+ of Network Marketers fail and don't make money and 90% of Network Marketing companies fail in 24 months.
The good news is you can dramatically increase your ability to make significant money with a solid company by knowing what to look for and what to watch out for.
A few key factors:
- % growth of the company- you want to go with a company that is growing fast, 100%, 200%, 300%...
- the nature of the product (ie is it highly consumable lending itself to repeated sales), this is critical for long term residual income.
- Founders of the company - are the founders experienced in taking a company from 0 to millions and billions? So many companies explode, then fizzle without proper leadership, not being able to handle the growth.
-what stage do I join a company? should I join a new company or an established company or an old company?
What other factors are important?
I encourage you to become a student of the industry. Knowledge and application are the key.
Feel free to contact me with any questions you have.
Blessings,
Greg
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cherie27
Member
Joined: 27 Nov 2007
Posts: 440
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# Posted: 18 Jun 2008 06:26
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Great post
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mountainmom5
Joined: 30 Aug 2007
Posts: 1150
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# Posted: 18 Jun 2008 08:53
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This must have been hidden for awhile - but great post. I think my biggest reason for failure in past ventures was lack of training and support. I run into people all the time that say the same thing - they have great products and a great opportunity but don't know what to do with it as there is no solid training for them....
I am so thankful that there IS training around to plug into - generic training where it is safe to plug your team into as well.
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cricfan
Member
Joined: 26 Mar 2008
Posts: 35
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# Posted: 18 Jun 2008 18:02
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listen, companies come & go
but if you learn the principles of building a REAL business, than no one can take that skill away from you because if you know how to market a business, than all it will take is to quickly choose another company, and build a team in record time...
in short, learn how to be a marketer, you will be successful at any home business/MLM...
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TimothyCarter
Member
Joined: 20 Jul 2008
Posts: 3
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# Posted: 5 Aug 2008 18:13
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This is a FABULOUS post and needed a comment to bump it back to the top of this board.
It is full of great POWER nuggets of truth for this industry...and the number one key is to learn...to become educated...to grow in this industry...yourself and your business...you need to learn to make a sale...to follow up on a phone call...to make $500 a month...$10,000 a month.
If you don't have the skills to do that...you need to learn to get there.
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rglar6
Member
Joined: 21 Jun 2008
Posts: 27
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# Posted: 9 Aug 2008 07:43
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The key to being successful is having the knowledge, and being able to apply that knowledge. It can be frustrating at times being able to see great potential, but not being able exploit it. Things are changing all the time therefore you need to keep learning to grow your knowledge base.
Richard
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westfam11
Member
Joined: 8 Aug 2007
Posts: 430
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# Posted: 9 Aug 2008 08:55
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How To Pick A Network Marketing Company?
1) Do You Believe in the product? It doesn't matter how great the product is if YOU don't believe in it then it won't work for you.
2) Do you like it and use it. How can you pitch a product that you don't like or use?
3) Executive staff - are they sincere about their desire to help distributors or are you just a $$ to them?
4) Marketing Plan - does the company have a solid plan to market their products/opportunity?
5) Leadership - Is there leadership to help you get started and not just leave you in the dust?
Becky
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Smart25
Member
Joined: 29 Jul 2008
Posts: 13
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# Posted: 12 Aug 2008 15:45
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Most important things are:
1. Management experience/integrity
2. Timing in the company
3. The product
4. Compensation plan
5. Proven system that duplicates.
If you get all that in a company you are good to go!
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kevin664
Member
Joined: 31 Oct 2007
Posts: 29
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# Posted: 13 Aug 2008 14:08 · Edited by: kevin664
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Fantastic response to the reader.
One of the secrets to any success in this
industry is to become a student of this business
One of the biggest secrets to my success is
to continue to listen actively and learning.
The listening actively is key. When you hear
of something that works, try it. You would
be surprised of the number of triumphs you
will experience.
- Kevin Tyler Smith
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marketingcoach
Member
Joined: 27 Aug 2008
Posts: 3
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# Posted: 27 Aug 2008 02:54
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I agree with all of the above, but I also think the history of the company is also important.
I know of a few fellow network marketers who were involved in MLM's that went belly up a while back.
I would hate to put all my eggs in one basket, grow an impressive organization, and one morning you wake up with nothing.
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