Once you have determined what you want, it is time to look for the best opportunity with which your efforts will soar.
Very little has been written on how to distinguish a great business opportunity from a fair one. Rather than taking a step forward “hoping it will work out,” arm yourself with the information you need to make a wise decision and have the confidence you need to succeed. Why leave your odds of success to chance? Prepared with a few tools, you will be better able to distinguish the best opportunity for you.
When evaluating a network marketing company, it is critical to get a clear picture of the opportunity. Ultimately, you are trying to determine if this opportunity help you accomplish the personal goals you have for your household? Therefore, it is critical that you have defined these goals. (See What Do you Want?)
For instance, here is the range of what your goals could be: •Do we believe we have the potential to ‘hit it out of the ballpark’ to set ourselves and our family up for financial security/abundance by working it consistently and hard for 2-5 years? •Or, your goal may be to bring in an additional $300 to help eliminate some of the financial burden.
The key elements to review when analyzing an opportunity include:
Who
Company
Product Uniqueness & Marketability
Timing
Compensation
I will have several articles dedicated to showing you what to look for in each of those.
“Our economy is in the middle of its greatest growth period in history. If you find that hard to believe, it’s because you’re responding to the very real growing pains that are the result of this growth. Growing pains like: Unemployment, Rapidly changing technology that makes employees obsolete and “machines taking jobs, evidence of growth!”
“How much you discipline your mind to step out of its routines and look into new ways of doing things that you haven’t yet adopted, is what will determine your economic potential.” ~ Paul Zane Pilzer – One of the top economists and trend forecasters in the world who predicted the dot com boom.
Robert Kiyosaki wrote his book, “The Business School for People Who Like Helping People,” to praise the benefits of owning a network marketing business. Although Kiyosaki made his wealth traditionally, he believes that these businesses are the wave of the future because they embody the new Information Age economy. He explains that network marketing is the fastest growing business model in the world today. Big companies such as AOL Time Warner, Berkshire Hathaway, and Citibank all utilize network marketing.
Donald J. Trump & Robert T. Kiyosaki Why We Want You To Be Rich (In the 1st hour became #1 book on Amazon) Chapter 27: Why Do You Recommend Network Marketing? “I recommend the industry for people who want to change and get the necessary skills and attitude training to be successful in the B quadrant.”
“Millions of middle-class workers will be downgraded to the poor class even though they have a 401k.” ~ Robert T. Kiyosaki
“Network marketing has proven itself to be a viable and rewarding source of income…There have been some remarkable examples of success, and those successes have been earned through diligence, enthusiasm and the right product combined with timing.”
“Make sure the product is worth your energy.” – Donald Trump
“Not only are NWM companies thriving in all the major capitals of the world, but many are also working in developing nations, bringing financial hope to millions of people who live in impoverished countries. Most traditional corporations can only survive where people are rich and have money to spend” ~ Robert Kiyosaki
Article by Trump & Kiyosaki.
Billionaire Warren Buffet, after purchasing a network marketing company, called it the best investment he’d ever made.
In August 9, 2004 Fortune magazine called direct selling (of which network marketing is the largest segment) “the best kept secret in the business world.” “In the next 10 years the industry will have more growth than in the entire prior 50 years…” It has experienced 91-percent growth in the last 10 years with annual sales in excess of $30 billion in the United States, and $100 billion worldwide.
Financial experts say it’s a “recession proof” industry.
Tom Peters, author of In Search of Excellence, calls it the first truly revolutionary shift in marketing in the last 50 years.
Stephen Covey said “Network Marketing has finally come of age.”
Jim Rohn – Millionaire mentor to Anthony Robbins: “NM is the big wave of the future. It is taking the place of franchising which now requires too much capital for the average person.”
Brian Tracy – Best Selling Author: “The future of network marketing is unlimited. There’s no end in sight. It will continue to grow because better people are getting into it. They are raising the entire standard of MLM to the point where soon it will be one of the most respected business methods in the world.”
Dr. Shricky Mar Raho – Long Island University, chairman of the marketing department: “Today, MLM growth is fueled by layoffs and a pervasive sense of insecurity. With network marketing there are no employees to supervise, no payrolls to meet, and you can go off on a 6 month vacation and come back making more money than when you left. Network marketing offers a powerful dream.”
Zig Ziglar – Network Marketing is known as the People’s Franchise.
Paul Zane Pilzer, “I would be very surprised if we don’t see network marketing sales doubling every 3-5 years.”
We do it every day and we don’t even realize it. We click “like” on Facebook, we insert a link to something we like, we tell someone about a movie or restaurant that we like. The power of a referral is huge and it is the NUMBER ONE source for new customers. Even when we owned our franchise, we spent thousands of dollars on advertising, corporate spent millions on television advertising, yet our strongest source of new members were “Buddy Referrals”… a friend told them about our gym.
Well, network marketing is the distribution method that companies are now using to pay for advertising on the back end of a sale, rather than on the front end. Well recognized institutions are turning to network marketing to reward those who make “referrals” or “recommendations”.
Network marketing is also known as Multi-Level Marketing (MLM), Direct Sales, or Independent Distributorship. Many well known forms of compensation, such as Real Estate/Broker agents, and Insurance Agence model the compensation plans of network marketing. Yet, as soon as someone starts drawing circles on a board, everyone thinks “Pyramid”.
Although illegal pyramids exist (see posts related to telling the difference), a legitimate network marketing opportunity is nothing more than a methodology to track who has earned the “referral credit” or commission. All compensation is based on volume of sales that one can be directly tracked to generating. Contrary to popular belief, the person at the top does not always make more than the person below them. If someone below generates more sales to the company, they will make more money.
I love this methodology of rewarding those who do the work. In corporate America, as a financial analyst, I could NEVER make more than the CFO, yet in this, there is no limit to what I can make and I can even surpass someone above me (and I have before). In my opinion, this is a true enterprise system.
Network marketing is one of the few businesses that doesn’t require employees, yet enables the owner to leverage his or her time by building a network of independent business people. This network, which purchases and sells products or services, generates a residual income for the owner. Unlike the income earned at a job, which stops when the work stops, residual income continues long after the work is completed.
“I’d rather have 1% the efforts of 100 people than 100% of my own.” – JP Getty, America’s first Billionaire Make Money While You Sleep!!
Is it possible to work part-time but make full-time income?
Is it possible to have the freedom and flexibility to do as you choose?
Yes, through the right home-based business opportunity!
A home business offers the following:
No Boss– the freedom to do as you choose without reporting to someone else.
No income ceiling–Delete that resume. You will never need it again. Finally earn what you are worth!
Self-satisfaction– Get rewarded for your own efforts.
Work with people you like–No difficult co-workers. No office politics.
Flexibility–Work the hours and make time with family a priority. If your best working hours are in the middle of the night, you can make that work.
No commuting–No more worry about gas prices. Work in the same room as your television, or at the dining room table close to the refrigerator… your choice.
No huge overhead–like traditional businesses. Earn a profit sooner.
Freedom–Rid yourself of the golden-handcuffs of working for someone else… especially if you are paid a decent salary. Most are afraid to walk away from that… but you may be tired of trading your life for money. There is a better way.
Security–Companies come and go. Learn to employ yourself so you are always valuable to your organization.
Tax deductions–deduct expenses you use every day like mobile phone, Internet access, computer expense, printer, paper, mileage, travel, education, etc. Tax expert Sanford Botkin says that a network marketing home business can result in tax savings of $3,000 to $9,000 per year.
By starting a network-marketing business in your spare time and keeping your regular job, you begin to gain the tax advantages of the rich.~ Robert Kiyosaki
Additional benefits of a network marketing business:
Low start-up cost: You can probably get everything you need to start for $49- $800. Most businesses take thousands of dollars in start-up capital.
Training at a minimal cost. Most organizations have a strong training program allowing you to learn either by computer, conference recordings or CDs. I am always leery of top leaders of organizations who sell their training materials as a second business. Some of the best in the industry share their “secrets” for free.
No employees. In network marketing, each representative who is signed up is their own business owner. Unlike a traditional business where your employees rarely, if ever, care about the success of your business as much as you do.
Keep your regular job. Many build network marketing businesses as a plan B, additional income stream, or until their “part-time” income is high enough to replace the income from their regular job. Work full-time on your job, and part-time on your fortunes!
No expensive tools necessary. You need a phone. A computer is helpful. But your most critical tool is a strong desire and people skills. Bring the why, and we’ll teach you the how.
Support of a sponsor/mentor. You are not alone when it comes to building your Network Marketing business. In case you need any help, there is always your sponsor whom you can get in touch. If your sponsor isn’t qualified enough, there is your sponsor’s sponsor, and so on. In other words, there is always some one experienced enough to guide you.
And Finally, The 8th Wonder of the World: Exponential, Leveraged, Residual Income
Network Marketing vs. Franchise Ownership My husband and I have evaluate several business opportunities over the last several years, as we have sought to earn enough money to cover our needs while having the flexibility for me to stay home, for us to be together as a family, and to pursue ministry opportunities without the stress of finances dictating our life.
Before we bought a fitness franchise, which was considered one of the lowest cost franchises at its time, we looked at some of the following: Starbucks, Fuddruckers, Krispy Creme, Subway, Chick-fil-A and many others. You would not believe how much you have to have to buy into one of those. In some cases, a million dollar networth was required before even qualifying to purchase their franchise. According to Clark Howard, the average small business costs around $140,000.
To own a quality business, you must invest in all the little things that make it run and run well.
One of the things that is exciting about network marketing, when you think of it purely from a business perspective, is how little you are investing to be a part of a multi-million dollar company. With a nominal sign-up fee of $29-$99 you usually get access to the following:
Research & Development
Corporate Staff
Website/online shopping
Warehousing/manufacturing
money back guarantees
Reasonably priced marketing materials
toll free lines and operators
packing and shipping personnel
sales training (much of it free)
payroll dept.
life insurance in some cases
Willable paychecks (always look for this benefit)
Direct deposit
The right to sell your business (always look for this benefit too)
Incentive trips
Car bonuses
Network Marketing vs. Real Estate The beauty of a home-based business in network marketing is that it can generate an income stream to fund more real estate investments and grow your financial portfolio.
Ready to explore Network Marketing as an option for you? Go to: Contact Me
If you continue doing what you are doing today, what will your life look like in 5 years?
Ultimately, it gets down to defining what is most important to you. Money is a resource, it is what you do with it that counts. Time is a gift, it is what you do with it that counts.
If you want something to change, you must make a change.
Can you answer the question “Why?” Write it down. Test it. Will it keep you going when everything else tells you to quit. If you have a WHY, the HOW will take care of itself.
Allow me to ask you the following questions to help you define your motivation or WHY for desiring to start a home-based business:
What is most important to you about making money from home?
How much would make a difference in your household? Why?
Are there any things with which “you have had it”?
Are there things you “have to have”?
What does your family mean to you?
What do you want for your own personal growth?
What you want to accomplish in your lifetime?
What would you like to be remembered for?
What moves you?
What would you love to do if money were no issue?
The answer to these questions will help direct the choice of opportunity for you.
Ready to explore Network Marketing as an option for you? Go to: Contact Me
While I was in Tulsa someone put me on the phone with a prospect who was very skeptical about the science of one of our nutrition products. This comes with the territory when you are involved with any health and wellness company. Most network marketers will respond by bombarding their prospect with facts, claims, features, etc. Try this instead…
This prospect was very resistant at first, but shortly after getting off the call they called me back and said,
“We have no idea what you said, but she wants to go ahead and sign up!
She said, ‘I like that lady. You can tell she really cares about people.'”
Now, if only all the calls went like that, but I did want to share some tidbits of that conversation (details have been changed to protect their identity) to help you as you are faced with objections. Some of the things I want to share are applicable no matter the objection:
I’m concerned if the science is safe
I think it is too expensive
I’m not a salesperson
I don’t have any time
I don’t know a lot of people
etc, etc.
I’m no trained salesperson, I make lots of mistakes, but I try to listen to objections with my heart.
First, a proper mindset: Detached from the outcome
First of all, I want to share the mindset and heart I try to have when I talk to someone about our business. Let’s say the prospect’s name is Hannah. Here’s what I’m thinking going into the call…
“I believe that [my company] could be a blessing in Hannah’s life, whether it is the products, or especially if she is looking for a place where her efforts to earn an income. She needs to have enough information to make an educated decision to determine if this is a good fit for her or not. It may or may not be. That is okay. I know that if she says ‘no’, there are a lot of other Hannah’s out there praying for this. I’ll keep sharing these products and this opportunity until I find the ones who are ready to align with us. Meanwhile, I want to help Hannah get the information she needs to make the right decision for her.”
Okay, so that is starters.
Secondly, where is the prospect in the cycle and having a heart to listen
I learn that Hannah is currently working another company, a direct sales business. Her husband has a degree in Chemistry and she has a degree in Biology. I also know that she has already done a previous 3-way call with an upline team member but is still concerned. So, what this tells me is that she already has some good exposure to the information about [my company], but this concern seems to really be holding her back. My main objective of the call is to LISTEN and learn more about her concern. I want to find out if that is the real concern or if there is something else that is holding her back and she is hiding behind that objection. Also, I know that if that is her primary concern that I will not “convince” her by trying to answer all her questions.
A recap of the call:
After she shares her concern to me, I REPHRASE back to her what I hear her saying.
“So, what I hear you saying, Hannah, is that you are concerned about understanding the science of [x] product. You don’t want to introduce your friends and loved ones to something that could be potentially harmful to them. That is an awesome heart you have toward others. I can tell too, that you are someone who likes to do your homework, and your friends know that about you. They know that if Hannah endorses something it must be good, because she doesn’t just jump into things. I honor you in that, Hannah.”
“So, let me ask you this… if you could get the answers to the outstanding questions you have about the science, is there anything else that might be holding you back from getting involved?” (Trying to dig deeper to find other objections and find out her receptivity too.)
She answers, that no, she sees the potential and how many people would be interested in this type of product if it worked. (This tells me that this is where she has sold herself. I know I can come back to this later, because she already believes this part.)
“Can I ask you something else? The current business that you are working, is that primarily because you enjoy it and you are doing it for fun, or are there financial goals that you have with that business?”
She goes on to tell me that it is for financial reasons and when all her kids are in school in another year that she knows that she wants to kick it in more.
“So, it sounds like if you could feel comfortable about the science, that you are open.”
She answers, yes.
So now I know that she is gearing herself up to be “sold.” But, my objective is to keep connection with her heart, not “sell” her.
“Hannah, I will tell you this… I’m no scientist, and for certain I don’t have the background that you and your husband have in chemistry and biology. But, I do know there is no shortage of information available about these products. I’m certain you will understand it a lot better than I do. All I know is that others who do understand it all, like some nurses anesthetists that we have on the team, they tell me, ‘I get it! This is amazing that no one has ever done this before. ” What I can do is give you some websites where you can dig into it deeper. But there is one place where I would suggest you listen first. From there, you will know if you still have red flags or if you want to spend some more time digging. It is a call where you will get answers to some frequently asked questions about the science of [x] product. If you have something to write with, I’ll give you the link to the recorded call.
Share genuinely what helped you if you could relate to her concern… (Feel, felt, found)
“I understand how you feel. I felt the same way. Personally, I will tell you a few things that helped me feel more comfortable about the science….”
“That precious little one of yours will be in kindergarten in a year. I encourage you that this opportunity is real. My husband and I have been doing network marketing full time to be home with our little ones for 5 years now. I know you would be successful if you wanted to go after this, and I would love to work with you.”
After this call she signed up immediately, without having to even listen to the ‘science’ recording.
There you go! Try these techniques of listening with your heart next time you are faced with an objection and let me know how it goes!
Beware the temptation to believe that those who are successful somehow possess an advantage you feel you can’t get: perhaps more talent, brains, support, contacts, money, or time.
Success in network marketing takes the courage to relentlessly
pursue what you believe is possible, the audacity
to believe it is possible for you, and the
emotional fortitude to stick with it.
This Business is about Others I’ve learned that this business is about others. I believed there were others out there like me who wanted more out of life… whether it was better health, more time or more money to live the life they wanted. I kept sharing until I found them and it kept multiplying.
True love is learning someone’s heart song so that when they forget it you can sing it back to them.
Not Everyone Will See It
Those who dance are considered insane by those who cannot hear the music.
Some well intending friends and family members had expressions of terror when I told them I had started my own home-based business with a networking marketing company.
“What have you gotten yourself into?”
“OK, how much did it cost you to sign up?”
I loved them for being concerned about me, but all of a sudden my belief came face-to-face with unbelief from those that I cared most about. But I knew if I didn’t do something about my situation, nothing was going to change, so I couldn’t take their rejection personal. I kept sharing. They say you can’t say the wrong thing to the right person. Some caught the vision and it multiplied from there to thousands of people. Keep sharing. Show others how to do the same. Do that over and over again until you build an organization that grows on without you. That is the beauty of passive, residual income.
Let Go of the Timing
I learned that things may not happen in your timing, but they’ll happen at the right time. Try to enjoy the journey. There will be sacrifices but they will be worth it. If you are afraid of what someone else is going to think, ask yourself this: “If I were unable to pay my bills would this person jump in and pay them for me?” The answer is probably “no”. So, go for it! Your financial future is in your own hands. We all have the same 24 hours. What will you do with them? Will you bury your talents, or multiply them? This is an invitation to enjoy the MORE of life that you were created for.
Once you have determined what you want, it is time to look for the best opportunity with which your efforts will soar.
