Majority of people choose an MLM opportunity without any research. This is because you are approached by a family or friend about a business opportunity and you join because of your love and trust in the relationship. In 99% of the cases the person who is sponsoring you has done no due diligence regarding the company. It is like blind pushing the blind. The result is invariably a catastrophe. Please remember what you are getting into is a business. It is about money. It is about your time, effort and sweat. It is about your future and the future of your loved ones. It depends upon the quality of your decision. So please choose carefully and intelligently. Some of the important factors in choosing the company are:
A. The company must have the right management, experience and integrity. It is always people behind the company who are the wealth creators. If the management is weak or lacks integrity, the business will fail. So when you decide to join a network marketing company do some research on the people behind the company? The management must have the experience to take the company to a new level as the business grows. They must have the ability to guide the company during hard times. If the company fails to adapt and survive the changing times and economic conditions so will you. If the company performs well then your business will grow exponentially as a result.
B. The timing in joining the MLM business will decide whether you will ride the wave of success or be drowned by it. Right timing consists of two separate factors and these should not be confused. First one is the right timing in the Industry. Second factor is the right timing in the company. If you get one right and the other wrong then you will not get great results. If you get both the timings right then you will ride the wave of success.
C. The product has to be remarkable. If there is no EMOTIONAL attachment to the product you will not succeed. You can never recommend a product to someone if you cannot become emotionally involved with it. Network marketing is referral based marketing and you can never transfer your enthusiasm to someone if you don’t have feelings for the product.
D. The compensation plan must be equitable, just and work with numbers. The most important thing about a compensation plan is that it should work with numbers. If it works for only 5% of the people and not for the other 95% then the compensation plan will not succeed. The business plan has to be equitable and just.
E. Choose a network marketing opportunity with systems for duplication. Why most businesses fail is because they do not have systems in place. On the other hand businesses with mediocre products but with great business systems always succeed. To succeed in network marketing business you need a tested, proven, duplication system.
Be a part of our DREAM TEAM
http://www.myteamabundance.com
See the MLMLeadSystemPro System for yourself:
http://www.wealthonlineguru.com
Dedicated to your success,
Praveen Kumar
Online business and lifestyle coach
+64 9 8348585 (GMT+12)
"Believe and it WILL happen. YOU will make it happen!"
The FIRST EVER Fully Branded, Customizable, Lead Generation &
Attraction Marketing System Of Its Kind That Combines Attraction
Marketing, Affiliate Marketing, CashFlow Programs And Traditional MLM
into ONE Super Powered Profit Pulling Machine:
rel="tag">http://www.wealthonlineguru.com
Sunday, November 23, 2008
How to Build Your Belief System for Network Marketing Success?
Network marketing is a recommendation business and not a sales business. You will fail if you treat your business like a sales person. You can recommend a product or service only if you belief in it. Only then you will be able to transfer your enthusiasm.
If you do not have belief in your product it will show in your body language, in your eyes and behavior pattern. Your heart and mind have to flow in one direction if you are to succeed in this business. If you are artificial you will be found out. The business will not work for you if your head and heart pull in different directions. If you wish to sponsor someone into the business then you must have belief that network marketing companies work and it is one of the best business models to make huge amounts of passive income within a very short time period without financial risks associated with traditional businesses.
How does one build the belief system to succeed? The most important thing is to find a great company, with a strong management and a unique product. Try and find a niche that cannot be replicated easily. If you are promoting a single niche product it is easy to understand and recommend. Can you recommend ten movies to a friend? Your friend will get confused and will not watch a single movie recommended by you. People mistakenly think that a multi-product network marketing companies will increase the chances of increasing their turn over and therefore increase their pay checks. Nothing can be further from truth. In today’s world a high quality niche product that is not easily replicable works much better.
To build the belief you must use the product and find out the benefit for yourself. This is not a selling business. This is a recommendation business based on faith people have in you. You cannot fake this faith by not using the product yourself and try selling it to others. There are people who believe that product is just a vehicle to build their network marketing business. Any product will do as long as it brings in money. Such thinking will result in selling a product rather than building a network marketing business that is built on good faith and belief.
Another important thing about belief is that initially when we join a network marketing company our belief system is weak. We have not used the products sufficiently. We know very little about the company we are promoting and we do not fully understand the business model. Most importantly we are not making any money so we don’t have the confidence. Initially we have to make great effort to learn everything about the business, the product and the company. In other words to build our belief system we have to train our self’s very hard.
The easiest way to build your belief system is to find a mentor. This is someone you has achieved success in your network marketing company. You must have a mentor to be a mentor. You want a mastermind group of like-minded people who want YOU to succeed. Want to make a million dollars? Mastermind with millionaires. If you want to make $50,000 a year, then mastermind with people who make $50,000 a year. Consider this VERY carefully: For most people, their yearly income is the average of their 5 closest friends. Do YOUR 5 closest friends have what you want? If not, why would you EVER listen to their opinions on business? Say you want to invest in real estate. Would you ask the person who rents one home? Or the person with 31 homes, 12 townhouses, 2 farms, one in Hamilton, one in Canterbury, and 16 commercial properties? To build a business, why on earth would you listen to people who've never done it? You've got to evaluate who you take advice from. To build your belief system you have to be in company of those who believe in themselves and have succeeded in the business. If you cannot meet your mentor in flesh and blood then watch videos and listen to tapes of people who have achieved great results from the business and whom you admire.
Your business will grow as your belief system goes up. If you are not succeeding in your network marketing business please check your belief system first. Without a strong belief in what you are doing you are doomed to fail from the very start. If you wish to succeed build your belief system first. Let your mind and heart speak as one unit.
Once you find your belief system, you’ll find sponsoring to be one of the most fun-filled experiences you’ve ever had. Your belief will take you from being a very shy, who is afraid of speaking to strangers, to a crusader who is ready to “share” his product and opportunity at the drop of a hat! Once you have the BELIEF you will not be defensive of your program. You will create a positive and an emotionally surcharged atmosphere where people will beg to be members of your team. This electrifying atmosphere is only possible when you speak from your heart that is backed by a strong belief system. The emotional impact that you produce arises from your inner relationship with your product and program, not from some kind of formula. Emotional power is - thoughtlessness. It bypasses your thinking process, for it has become you. It is your belief system and not something you consciously do or think about at the moment.
Your emotional integrity plays a vital part in your power of personal persuasion. When you have that quality your prospects will listen with more than just their ears. Your emotions will bypass the prospect’s defenses and get to his heart.
Jacob Boehme said it well about 350 years ago. His words still ring true today.
“For realness, the exterior of our life needsto be the signature of the interior.”
Your internal belief system will be strong when you sincerely believe that it’s right to help people become more financially secure. It’s right to help people discover a way to better health, personal growth and increased happiness. No wonder the right kind of network marketing companies can build up loyalty and emotional attachment like few other businesses can! You cannot sell anything effectively unless you are sold on it yourself. The key is to become a user of your network marketing companies product. Once you start using the product that shows results, you will start sharing the benefits of your experience. These benefits will fire your inner emotional power. You will then communicate facts. You will share values through emotions. If your listener concludes that your product has great value, it will be because you’ve shared your emotions and supported them with essential facts. That’s a powerful combination, one that lies at the source of the marketing power you’re looking for. Herein lies the secret of success in network marketing.
It is important that your emotional power be the servant of intelligence. The closer you are to the unity of truth, the more power you will generate. It is only when knowledge and emotions combine and when heart and mind are one great success is achieved. Once you develop the belief system you won’t need any artificial means to find prospects. You will attract prospective associates to you with your warmth, conviction and natural enthusiasm, all of which flow from the center of your being. None of these have to be artificially produced. That is fun!
To develop your belief it is important that you use the product and see its benefit. I can feel the difference in my body and energy levels. Please also read about the science behind the product and what independent people of great repute, journals, TV channels and internet like U Tube etc are saying about your product. If there is no doubt in your heart and mind that you are fortunate to have a great product and a company with high integrity then there is no reason as to why your business will not explode. In case for some reason you lack the belief in your network marketing companies product or service then find something new in which you can believe in or you will not succeed.
Be a part of our DREAM TEAM
http://www.myteamabundance.com
See the MLMLeadSystemPro System for yourself:
http://www.wealthonlineguru.com
Dedicated to your success,
Praveen Kumar
Online business and lifestyle coach
+64 9 8348585 (GMT+12)
"Believe and it WILL happen. YOU will make it happen!"
The FIRST EVER Fully Branded, Customizable, Lead Generation &
Attraction Marketing System Of Its Kind That Combines Attraction
Marketing, Affiliate Marketing, CashFlow Programs And Traditional MLM
into ONE Super Powered Profit Pulling Machine:
rel="tag">http://www.wealthonlineguru.com
If you do not have belief in your product it will show in your body language, in your eyes and behavior pattern. Your heart and mind have to flow in one direction if you are to succeed in this business. If you are artificial you will be found out. The business will not work for you if your head and heart pull in different directions. If you wish to sponsor someone into the business then you must have belief that network marketing companies work and it is one of the best business models to make huge amounts of passive income within a very short time period without financial risks associated with traditional businesses.
How does one build the belief system to succeed? The most important thing is to find a great company, with a strong management and a unique product. Try and find a niche that cannot be replicated easily. If you are promoting a single niche product it is easy to understand and recommend. Can you recommend ten movies to a friend? Your friend will get confused and will not watch a single movie recommended by you. People mistakenly think that a multi-product network marketing companies will increase the chances of increasing their turn over and therefore increase their pay checks. Nothing can be further from truth. In today’s world a high quality niche product that is not easily replicable works much better.
To build the belief you must use the product and find out the benefit for yourself. This is not a selling business. This is a recommendation business based on faith people have in you. You cannot fake this faith by not using the product yourself and try selling it to others. There are people who believe that product is just a vehicle to build their network marketing business. Any product will do as long as it brings in money. Such thinking will result in selling a product rather than building a network marketing business that is built on good faith and belief.
Another important thing about belief is that initially when we join a network marketing company our belief system is weak. We have not used the products sufficiently. We know very little about the company we are promoting and we do not fully understand the business model. Most importantly we are not making any money so we don’t have the confidence. Initially we have to make great effort to learn everything about the business, the product and the company. In other words to build our belief system we have to train our self’s very hard.
The easiest way to build your belief system is to find a mentor. This is someone you has achieved success in your network marketing company. You must have a mentor to be a mentor. You want a mastermind group of like-minded people who want YOU to succeed. Want to make a million dollars? Mastermind with millionaires. If you want to make $50,000 a year, then mastermind with people who make $50,000 a year. Consider this VERY carefully: For most people, their yearly income is the average of their 5 closest friends. Do YOUR 5 closest friends have what you want? If not, why would you EVER listen to their opinions on business? Say you want to invest in real estate. Would you ask the person who rents one home? Or the person with 31 homes, 12 townhouses, 2 farms, one in Hamilton, one in Canterbury, and 16 commercial properties? To build a business, why on earth would you listen to people who've never done it? You've got to evaluate who you take advice from. To build your belief system you have to be in company of those who believe in themselves and have succeeded in the business. If you cannot meet your mentor in flesh and blood then watch videos and listen to tapes of people who have achieved great results from the business and whom you admire.
Your business will grow as your belief system goes up. If you are not succeeding in your network marketing business please check your belief system first. Without a strong belief in what you are doing you are doomed to fail from the very start. If you wish to succeed build your belief system first. Let your mind and heart speak as one unit.
Once you find your belief system, you’ll find sponsoring to be one of the most fun-filled experiences you’ve ever had. Your belief will take you from being a very shy, who is afraid of speaking to strangers, to a crusader who is ready to “share” his product and opportunity at the drop of a hat! Once you have the BELIEF you will not be defensive of your program. You will create a positive and an emotionally surcharged atmosphere where people will beg to be members of your team. This electrifying atmosphere is only possible when you speak from your heart that is backed by a strong belief system. The emotional impact that you produce arises from your inner relationship with your product and program, not from some kind of formula. Emotional power is - thoughtlessness. It bypasses your thinking process, for it has become you. It is your belief system and not something you consciously do or think about at the moment.
Your emotional integrity plays a vital part in your power of personal persuasion. When you have that quality your prospects will listen with more than just their ears. Your emotions will bypass the prospect’s defenses and get to his heart.
Jacob Boehme said it well about 350 years ago. His words still ring true today.
“For realness, the exterior of our life needsto be the signature of the interior.”
Your internal belief system will be strong when you sincerely believe that it’s right to help people become more financially secure. It’s right to help people discover a way to better health, personal growth and increased happiness. No wonder the right kind of network marketing companies can build up loyalty and emotional attachment like few other businesses can! You cannot sell anything effectively unless you are sold on it yourself. The key is to become a user of your network marketing companies product. Once you start using the product that shows results, you will start sharing the benefits of your experience. These benefits will fire your inner emotional power. You will then communicate facts. You will share values through emotions. If your listener concludes that your product has great value, it will be because you’ve shared your emotions and supported them with essential facts. That’s a powerful combination, one that lies at the source of the marketing power you’re looking for. Herein lies the secret of success in network marketing.
It is important that your emotional power be the servant of intelligence. The closer you are to the unity of truth, the more power you will generate. It is only when knowledge and emotions combine and when heart and mind are one great success is achieved. Once you develop the belief system you won’t need any artificial means to find prospects. You will attract prospective associates to you with your warmth, conviction and natural enthusiasm, all of which flow from the center of your being. None of these have to be artificially produced. That is fun!
To develop your belief it is important that you use the product and see its benefit. I can feel the difference in my body and energy levels. Please also read about the science behind the product and what independent people of great repute, journals, TV channels and internet like U Tube etc are saying about your product. If there is no doubt in your heart and mind that you are fortunate to have a great product and a company with high integrity then there is no reason as to why your business will not explode. In case for some reason you lack the belief in your network marketing companies product or service then find something new in which you can believe in or you will not succeed.
Be a part of our DREAM TEAM
http://www.myteamabundance.com
See the MLMLeadSystemPro System for yourself:
http://www.wealthonlineguru.com
Dedicated to your success,
Praveen Kumar
Online business and lifestyle coach
+64 9 8348585 (GMT+12)
"Believe and it WILL happen. YOU will make it happen!"
The FIRST EVER Fully Branded, Customizable, Lead Generation &
Attraction Marketing System Of Its Kind That Combines Attraction
Marketing, Affiliate Marketing, CashFlow Programs And Traditional MLM
into ONE Super Powered Profit Pulling Machine:
rel="tag">http://www.wealthonlineguru.com
How to Become an Attraction Marketing Leader in Network Marketing?
There is one question that most people have about the concept of ATTRACTION MARKETING "How can I be a leader, and an expert and ATTRACT people to me, when I haven't made a lot of money yet in my network marketing company?!"
Well here's the thing you need to understand. It is NOT about how much money you've made. MONEY has NOTHING to do with it!
The main thing is to get started, sponsor a few people and earn commissions. In the process you have to learn few marketing techniques on the internet. Even a few weeks of internet marketing training will put you ahead of 95% of all the network marketers out there!
That is powerful. That makes YOU incredibly VALUABLE! It is now your task to communicate your VALUE to the marketplace!
Let me explain. One of my marketing mentors he makes over 50,000 monthly from his home computer. Incredible right? But it's because he "gets" ATTRACTION MARKETING and he's a great marketing coach.
Now I hear you saying "yeah of course he is... he's making 50,000 per month because he can coach because he's there already but what about me? I have no "story" like that yet. I don't have any success at all?!"
See here's the funny thing. Not that long ago he wasn't making close to that kind of money. NOT even close. Maybe he was making a couple hundred dollars a month at most and that was only about a year and a half ago! He's only like 24 or something... ridiculous!!!
He succeeded because he CHOSE to position himself as an expert and as a leader. He just absorbed great information, like we all can. But unlike most of us he put his KNOWLEDGE TO PRACTICE AND STARTED TEACHING even when he wasn't making much money.
This is what you need to understand. You don't have to have money to teach marketing. All that you need is a little knowledge. Our young friend succeeded because he actually started teaching. He began to generate cash flow because he took the right steps.
So what's the point? It is crystal clear that you will succeed when you see yourself as a leader. When you have confidence in your OWN YOUR GREATNESS! Tell your story and study all you can. Once you become more VALUABLE and start teaching you will succeed!
There are millions of struggling entrepreneurs on the internet RIGHT NOW who are searching for the right teacher and a leader. They are looking for their "wizard" who will help them to reach their goals.
The question you have to ask yourself is that are you prepared to become that Wizard, recognize your greatness and get out there and change people’s lives!
Be a part of our DREAM TEAM
http://www.myteamabundance.com
See the MLMLeadSystemPro System for yourself:
http://www.wealthonlineguru.com
Dedicated to your success,
Praveen Kumar
Online business and lifestyle coach
+64 9 8348585 (GMT+12)
"Believe and it WILL happen. YOU will make it happen!"
The FIRST EVER Fully Branded, Customizable, Lead Generation &
Attraction Marketing System Of Its Kind That Combines Attraction
Marketing, Affiliate Marketing, CashFlow Programs And Traditional MLM
into ONE Super Powered Profit Pulling Machine:
rel="tag">http://www.wealthonlineguru.com
Well here's the thing you need to understand. It is NOT about how much money you've made. MONEY has NOTHING to do with it!
The main thing is to get started, sponsor a few people and earn commissions. In the process you have to learn few marketing techniques on the internet. Even a few weeks of internet marketing training will put you ahead of 95% of all the network marketers out there!
That is powerful. That makes YOU incredibly VALUABLE! It is now your task to communicate your VALUE to the marketplace!
Let me explain. One of my marketing mentors he makes over 50,000 monthly from his home computer. Incredible right? But it's because he "gets" ATTRACTION MARKETING and he's a great marketing coach.
Now I hear you saying "yeah of course he is... he's making 50,000 per month because he can coach because he's there already but what about me? I have no "story" like that yet. I don't have any success at all?!"
See here's the funny thing. Not that long ago he wasn't making close to that kind of money. NOT even close. Maybe he was making a couple hundred dollars a month at most and that was only about a year and a half ago! He's only like 24 or something... ridiculous!!!
He succeeded because he CHOSE to position himself as an expert and as a leader. He just absorbed great information, like we all can. But unlike most of us he put his KNOWLEDGE TO PRACTICE AND STARTED TEACHING even when he wasn't making much money.
This is what you need to understand. You don't have to have money to teach marketing. All that you need is a little knowledge. Our young friend succeeded because he actually started teaching. He began to generate cash flow because he took the right steps.
So what's the point? It is crystal clear that you will succeed when you see yourself as a leader. When you have confidence in your OWN YOUR GREATNESS! Tell your story and study all you can. Once you become more VALUABLE and start teaching you will succeed!
There are millions of struggling entrepreneurs on the internet RIGHT NOW who are searching for the right teacher and a leader. They are looking for their "wizard" who will help them to reach their goals.
The question you have to ask yourself is that are you prepared to become that Wizard, recognize your greatness and get out there and change people’s lives!
Be a part of our DREAM TEAM
http://www.myteamabundance.com
See the MLMLeadSystemPro System for yourself:
http://www.wealthonlineguru.com
Dedicated to your success,
Praveen Kumar
Online business and lifestyle coach
+64 9 8348585 (GMT+12)
"Believe and it WILL happen. YOU will make it happen!"
The FIRST EVER Fully Branded, Customizable, Lead Generation &
Attraction Marketing System Of Its Kind That Combines Attraction
Marketing, Affiliate Marketing, CashFlow Programs And Traditional MLM
into ONE Super Powered Profit Pulling Machine:
rel="tag">http://www.wealthonlineguru.com
Network Marketing Success = Profit Trough Break Even Analysis
The purpose of starting a network marketing business is to make profit. If a business spends more money than it makes it will go belly up. So why should network marketing be any different?
We know that network marketing gives exponential passive income with time. If you have a group of 100 to 1,000 people in your network buying the product and recruiting more, then you will be getting richer and richer! We all know that.
It’s SURVIVING the first 3 to 6 months in the network marketing business that is crucial. There is a learning curve involved …….typically a new distributor will go through a 3 months of trial and error period. After which it takes 3 to 6 months to build a network that starts paying you money. If you can learn to manage your cash flow wisely and also teach the people you sponsor to do the same then you will succeed in this business.
The key to survival is CASH FLOW. People in network marketing business usually run out of cash flow normally after 3 months and they quit because they have not planned properly. If you teach and help the new members in your team to reach breakeven as fast as possible ……..will give them confidence to continue in the business.
TYPICAL EXENSES OF A NETWORK MARKETING BUSINESS
A typical network marketing business will have the following expenses:
Joining Fee
Auto-ship
Petrol
Training Material
Promotion materials
Meetings and Rallies
Phone Bill
Leads
Advertising
Miscellaneous
People when joining the network marketing business opportunity only look at the initial cost of joining and auto-ship. They fail to take into account other expenses that are vital to succeed in the business. This results in cash crunch and dropping out of business.
# BUDGETING AND REDUCING COSTS
To succeed you have to budget your expenses and find ways and means to reduce costs. There are unscrupulous people in this business who make new members to spend on advertising and promotional materials from which they generate revenues to run their own business. Advertising and promotion is essential to success of any business but has to be done sensibly. Every dollar spent must show some positive result for the business or it is a waste.
Spending money on your education first is the best investment you will ever do. If you are educated then you will save thousands of dollars in the course of your business. There is simply no substitute for education. Find a mentor with a servant’s heart who will coach you for free. Even if you have to pay a little money do not hesitate. You will get exponential results from this investment. You have to investment in your education first because as we discussed earlier in this book that network marketing is a mentoring business and not a sales business. You have to learn before you can teach.
Some other suggestions to reduce your costs are given below:
• Keep minimum stock necessary to run your network marketing business. Some stock is necessary to share the experience with other people but keep it to the minimum. You can always order more when you need. If you have too much stock in your garage then sell it to generate cash flow. It will give a new lease of life to your business.
• Have a Buddy in your area. This will save costs when traveling to meetings but will also create synergy.
• Do some research and switch to low cost phone plans. There are many free systems like SKYPE available on the internet.
• To save petrol costs try and qualify your leads before you decide to drive down to meet them. If you are prospecting someone who is indecisive, lazy and complains constantly, it is better to keep him or her in the back burner and focus on people who are excited about the business. You don’t want to find yourself driving miles just to talk to someone and after two hours find out that they are not interested. A very good way to qualify what type of prospect you are dealing with is to ask a few questions about their dreams and self-development. If you find that they have no energy in their words, or are not doing anything to improve themselves then you can very well save lots of time and petrol.
• As your network grows you will have to find leaders in your team who are highly motivated and work with them for the betterment of the team.
• The most important cost in your business is the leads and how you generate them. The cost of generating the leads and converting them into your business can make or break your network marketing business. You have to learn how to minimize these costs and be effective. This is something you have to understand and perfect if you have to succeed in this business.
• Hold local training sessions besides the company’s training sessions with all your team members. This may save cost to your team members.
• Educate all the team members about proper cash flow management when building the business.
• Everyone must focus on following the same network marketing system in your team! It is crucial for duplication. Can you imagine 100 people all going in their own direction? This is recipe for disaster. A simple system of duplication saves cost, time and effort of the team.
TAX DOLLARS CAN FUND YOUR BUSINESS
Tax incentives provide a huge source of cash flow to run your network marketing business and achieve break even within weeks.
When you engage in network marketing business opportunity you can claim cost of travel, communications, entertainment, office stationary, advertising and even products that you buy through auto-ship (for promotion) as legitimate business expense. You can also claim part of your rent/mortgage, electricity and water bills as legitimate expenses as you are using your home as office. You can also claim depreciation on office furniture, car, computer, fax machine and other accessories that you need for your home business. Please speak with your local tax consultant before you embark on this course because tax laws are different in each country.
In most cases the tax incentives are so generous that they can fund your business in the initial stages. What most people do not realize is that when you take tax incentives into account the breakeven point of your business is much closer than you think.
Make sure your team members understand cash flow and break even analysis. When you help them make money, they will help YOU make money! This is the secret to network marketing success
Be a part of our DREAM TEAM
http://www.myteamabundance.com
See the MLMLeadSystemPro System for yourself:
http://www.wealthonlineguru.com
Dedicated to your success,
Praveen Kumar
Online business and lifestyle coach
+64 9 8348585 (GMT+12)
"Believe and it WILL happen. YOU will make it happen!"
The FIRST EVER Fully Branded, Customizable, Lead Generation &
Attraction Marketing System Of Its Kind That Combines Attraction
Marketing, Affiliate Marketing, CashFlow Programs And Traditional MLM
into ONE Super Powered Profit Pulling Machine:
rel="tag">http://www.wealthonlineguru.com
We know that network marketing gives exponential passive income with time. If you have a group of 100 to 1,000 people in your network buying the product and recruiting more, then you will be getting richer and richer! We all know that.
It’s SURVIVING the first 3 to 6 months in the network marketing business that is crucial. There is a learning curve involved …….typically a new distributor will go through a 3 months of trial and error period. After which it takes 3 to 6 months to build a network that starts paying you money. If you can learn to manage your cash flow wisely and also teach the people you sponsor to do the same then you will succeed in this business.
The key to survival is CASH FLOW. People in network marketing business usually run out of cash flow normally after 3 months and they quit because they have not planned properly. If you teach and help the new members in your team to reach breakeven as fast as possible ……..will give them confidence to continue in the business.
TYPICAL EXENSES OF A NETWORK MARKETING BUSINESS
A typical network marketing business will have the following expenses:
Joining Fee
Auto-ship
Petrol
Training Material
Promotion materials
Meetings and Rallies
Phone Bill
Leads
Advertising
Miscellaneous
People when joining the network marketing business opportunity only look at the initial cost of joining and auto-ship. They fail to take into account other expenses that are vital to succeed in the business. This results in cash crunch and dropping out of business.
# BUDGETING AND REDUCING COSTS
To succeed you have to budget your expenses and find ways and means to reduce costs. There are unscrupulous people in this business who make new members to spend on advertising and promotional materials from which they generate revenues to run their own business. Advertising and promotion is essential to success of any business but has to be done sensibly. Every dollar spent must show some positive result for the business or it is a waste.
Spending money on your education first is the best investment you will ever do. If you are educated then you will save thousands of dollars in the course of your business. There is simply no substitute for education. Find a mentor with a servant’s heart who will coach you for free. Even if you have to pay a little money do not hesitate. You will get exponential results from this investment. You have to investment in your education first because as we discussed earlier in this book that network marketing is a mentoring business and not a sales business. You have to learn before you can teach.
Some other suggestions to reduce your costs are given below:
• Keep minimum stock necessary to run your network marketing business. Some stock is necessary to share the experience with other people but keep it to the minimum. You can always order more when you need. If you have too much stock in your garage then sell it to generate cash flow. It will give a new lease of life to your business.
• Have a Buddy in your area. This will save costs when traveling to meetings but will also create synergy.
• Do some research and switch to low cost phone plans. There are many free systems like SKYPE available on the internet.
• To save petrol costs try and qualify your leads before you decide to drive down to meet them. If you are prospecting someone who is indecisive, lazy and complains constantly, it is better to keep him or her in the back burner and focus on people who are excited about the business. You don’t want to find yourself driving miles just to talk to someone and after two hours find out that they are not interested. A very good way to qualify what type of prospect you are dealing with is to ask a few questions about their dreams and self-development. If you find that they have no energy in their words, or are not doing anything to improve themselves then you can very well save lots of time and petrol.
• As your network grows you will have to find leaders in your team who are highly motivated and work with them for the betterment of the team.
• The most important cost in your business is the leads and how you generate them. The cost of generating the leads and converting them into your business can make or break your network marketing business. You have to learn how to minimize these costs and be effective. This is something you have to understand and perfect if you have to succeed in this business.
• Hold local training sessions besides the company’s training sessions with all your team members. This may save cost to your team members.
• Educate all the team members about proper cash flow management when building the business.
• Everyone must focus on following the same network marketing system in your team! It is crucial for duplication. Can you imagine 100 people all going in their own direction? This is recipe for disaster. A simple system of duplication saves cost, time and effort of the team.
TAX DOLLARS CAN FUND YOUR BUSINESS
Tax incentives provide a huge source of cash flow to run your network marketing business and achieve break even within weeks.
When you engage in network marketing business opportunity you can claim cost of travel, communications, entertainment, office stationary, advertising and even products that you buy through auto-ship (for promotion) as legitimate business expense. You can also claim part of your rent/mortgage, electricity and water bills as legitimate expenses as you are using your home as office. You can also claim depreciation on office furniture, car, computer, fax machine and other accessories that you need for your home business. Please speak with your local tax consultant before you embark on this course because tax laws are different in each country.
In most cases the tax incentives are so generous that they can fund your business in the initial stages. What most people do not realize is that when you take tax incentives into account the breakeven point of your business is much closer than you think.
Make sure your team members understand cash flow and break even analysis. When you help them make money, they will help YOU make money! This is the secret to network marketing success
Be a part of our DREAM TEAM
http://www.myteamabundance.com
See the MLMLeadSystemPro System for yourself:
http://www.wealthonlineguru.com
Dedicated to your success,
Praveen Kumar
Online business and lifestyle coach
+64 9 8348585 (GMT+12)
"Believe and it WILL happen. YOU will make it happen!"
The FIRST EVER Fully Branded, Customizable, Lead Generation &
Attraction Marketing System Of Its Kind That Combines Attraction
Marketing, Affiliate Marketing, CashFlow Programs And Traditional MLM
into ONE Super Powered Profit Pulling Machine:
rel="tag">http://www.wealthonlineguru.com
Tuesday, November 18, 2008
MonaVie Pulse: Plant Sterols
MonaVie Pulse Benefits
• Boasts heart healthy levels of plant sterols* to help maintain existing healthy cholesterol levels.
• Features resveratrol, which supports your cardiovascular system by helping protect healthy blood vessels.
• Delivers powerful antioxidant polyphenols to promote a healthy cardiovascular system.
• Features a wide array of essential nutrients for optimal health.
• Offers potent antioxidant protection against free radicals.
• Delivers the antioxidant capacity of approximately 13 servings of fruits and vegetables in just four ounces.
Wednesday, November 12, 2008
Economics of Lead Generation in MLM
More than 90% people who join network marketing fail. This figure is common to all businesses and not limited to MLM. These figures by themselves should not dissuade people from joining network marketing because even a little bit of correct education on marketing and lead generation can lift any average person with normal intelligence into the top ten percent and you can make a great life style change as you will be working flexi hours from home.
The two main reasons why people fail in MLM are because sooner than later they either run out of Quality Leads or Cash Flow to run their business. It takes time, money and effort to build a network that will start paying back. In network marketing you are like a rocket which burns 90% of its fuel at the time of take off. Once you reach the outer orbit it is cruise control.
Leads are lifeline of MLM business. In the traditional approach we are asked by our up line leaders to make a list of all our friends and family members. We are told that we will never run out of leads because once we sponsor a few people into our business then we can start working with their warm market list. For this approach to work one has to be very persistent with their effort and face a lot of rejection. Most of the leads generated through this approach are also of very poor quality because they join the business due to the relationship they have with the sponsor rather than any desire to improve their financial life. Although warm market leads are free it takes a herculean effort to build a network because leads lack the right motivation and also the attrition rate is very high. Sometimes people get lucky and catch a heavy hitter in their net but this is normally an exception and not a rule. Until and unless you are a bull dog with lion’s heart you will find it very difficult to become successful using this model. Some do succeed but it is not for a normal person.
Leads generated through marketing approach have the advantage of being better motivated as they are looking for a business opportunity. The problem with such leads is that there is no relationship of trust with the sponsor which is very important if one is to succeed in network marketing. The leads generated through marketing can also be very expensive. Until and unless you have very deep pockets you will soon run out of cash to fund your business. This is because 95% of the lead you generate will not even join your business opportunity. For example if it costs $10 to generate a lead through online or offline advertising then 100 leads will cost $1000 to generate. Statistics show that around 5% of the leads you generate will eventually join your business. This would mean that it will cost you $200 to sponsor one person into your network. This is definitely not a sustainable or a duplicable model until and unless the returns from the opportunity are very high. In most cases companies want to keep the cost of auto ship reasonably priced and money disbursed to the network is correspondingly limited.
So what is the answer to this problem? The solution lies in the concept of ‘Funded Proposal’ wherein you generate cash by making upfront sales to 95% of the leads who don’t join your business. In Funded Proposal you make low value sale of information product to your leads. In doing so you recover the cost of your advertising and generating leads through marketing model becomes sustainable. In fact Funded Proposal has given new lease of life to the MLM business.
Be a part of our DREAM TEAM
http://www.myteamabundance.com
See the MLMLeadSystemPro System for yourself:
http://www.wealthonlineguru.com
Dedicated to your success,
Praveen Kumar
Online business and lifestyle coach
+64 9 8348585 (GMT+12)
"Believe and it WILL happen. YOU will make it happen!"
The FIRST EVER Fully Branded, Customizable, Lead Generation &
Attraction Marketing System Of Its Kind That Combines Attraction
Marketing, Affiliate Marketing, CashFlow Programs And Traditional MLM
into ONE Super Powered Profit Pulling Machine:
http://www.wealthonlineguru.com
Tuesday, November 11, 2008
MLM Success = Funded Proposal
The biggest problem of MLM is that it takes anywhere from 2 to 5 years to build any kind of decent residual income. If you are doing it part time then it may take even longer. As a result most people who join network marketing either lose patience or run out of money to fund their business. The end result is that they drop out. The concept of ‘Funded Proposal’ has given a new lease of life to Network Marketing.
The main hindrance that network marketers face is the problem of generating ‘High Quality Leads’ and the ‘Cash Flow’ to fund and sustain their business. Generating high quality leads take a lot of money, time and effort. The most unfortunate part is that 95% of the leads will not even join your primary business.
Funded proposal is a concept that puts money in your pocket even as you generated high responsive leads. You do this by selling an inexpensive but useful product on the front end to cover your advertising expenses. Most network marketers lack knowledge of marketing. So you sell them an information marketing product that will help them to build their business even if they do not join your opportunity. By doing so you are doing a service to them and building a relation of trust by helping them in their business.
These front end sales helps you to recover cost of advertising for lead generation such as pay per click etc. The system is so powerful because it is self sustaining. Now you have cash flow to keep advertising and generating more leads in an endless cycle. Many of these leads will not only join your primary business but will also join under you as a full member of the Funded Proposal System. This will give you multiple sources of recurring commission monthly which means more funds that you can put back into marketing.
Funded Proposal System works in two Steps:
STEP 1 – Offer your leads coaching to help them make money online, such as how to set up a blog with affiliate links and make some sales. Give them valuable training on various aspects of network marketing such as Web 2.0, PPC, Forum marketing, List Builders/ Solo Ads etc. Do not charge them a high price but just a small fee to cover your costs. This will solve your cash flow problem.
STEP 2 – Once your prospect is pre trained through your efforts in Step 1 and become confident with computers and Internet Marketing, you offer them to join your MLM business opportunity so that they have a multi-tier affiliate program to promote.
This simple process firstly trains your prospect into internet marketing and gets him into positive cash flow immediately. This will create momentum in your team and decrease attrition.
This is the smart way to do business. This is how the masters in this industry make it happen. Do you think they make cold calls or do home meeting? The answer is a big NO. They market information and training. This pays for their advertising which in turn serves as a never-ending source of free leads for their network marketing business.
If the logic of ‘Funded Proposal’ appeals to your intelligence, then take ACTION and do something with it today!
Praveen Kumar is an Online Business and Lifestyle Coach. You can access free internet marketing training videos and can also get your Fully Branded, Customizable, Lead Generation & Funded Proposal System at
http://www.wealthonlineguru.com
Sunday, November 9, 2008
MLM Success = Funded Proposal
The concept of funded proposal has given a new lease of life to the MLM Business. Please watch this training video to understand how 'Funded Proposal' works.....
Wednesday, October 22, 2008
TAX DOLLARS CAN FUND YOUR HOME BUSINESS
Most governments give huge tax incentives to people engaged in home business. This is because it is good for the economy. Employment is a political issue for governments. They encourage people to start small businesses that hopefully will grow into big corporations some day. This is why governments give huge tax breaks if you start your own home business. If you are a paid employee on a fixed income it is always smart to start a part time home business to take advantage of the tax incentives provided by the government.
What most people do not realize is that the biggest chunk of cash out flow from their pocket is the taxes. These can range anywhere from 20% to 55% of the income. This is huge in terms of dollars. When you engage in network marketing business you can claim cost of travel, communications, entertainment, office stationary, advertising and even products that you buy through auto-ship (for promotion) as legitimate business expense. You can also claim part of your rent/mortgage, electricity and water bills as legitimate expenses as you are using your home as office. You can also claim depreciation on office furniture, car, computer, fax machine and other accessories that you need for your home business. You can also register for GST and claim back the GST that you have paid on purchase of items related to your business. Please speak with your local tax consultant before you embark on this course because tax laws are different in each country.
What these tax breaks do is give you huge cash flow to run your business. You can claim back on the taxes paid and get a refund to run your business. In case there are unrecovered losses then these can be forward to the next year and claimed back when your business starts to generate income.
In most cases the tax incentives are so generous that they can fund your business in the initial stages. What most people do not realize is that when you take tax incentives into account the break even point of your business is much closer than you think.
Please do not join network marketing just to get tax refunds. You have to be active in the business to claim refunds otherwise the taxman will come knocking on your doors. Having said that tax incentives provide a huge motivation to start your home based business and save on those dollars that will invariably go to the taxman never to be seen again. Network marketing is without doubt the best route to start your own home business and get on to the road to financial freedom. It is the best program if you are looking for an early retirement.
Make sure your team members succeed. When you help them make money, they will help YOU make money!
Be a part of our DREAM TEAM
http://www.myteamabundance.com
See the MLMLeadSystemPro System for yourself:
http://www.wealthonlineguru.com
Dedicated to your success,
Praveen Kumar
Online business and lifestyle coach
+64 9 8348585 (GMT+12)
"Believe and it WILL happen. YOU will make it happen!"
The FIRST EVER Fully Branded, Customizable, Lead Generation &
Attraction Marketing System Of Its Kind That Combines Attraction
Marketing, Affiliate Marketing, CashFlow Programs And Traditional MLM
into ONE Super Powered Profit Pulling Machine:
rel="tag">http://www.wealthonlineguru.com
What most people do not realize is that the biggest chunk of cash out flow from their pocket is the taxes. These can range anywhere from 20% to 55% of the income. This is huge in terms of dollars. When you engage in network marketing business you can claim cost of travel, communications, entertainment, office stationary, advertising and even products that you buy through auto-ship (for promotion) as legitimate business expense. You can also claim part of your rent/mortgage, electricity and water bills as legitimate expenses as you are using your home as office. You can also claim depreciation on office furniture, car, computer, fax machine and other accessories that you need for your home business. You can also register for GST and claim back the GST that you have paid on purchase of items related to your business. Please speak with your local tax consultant before you embark on this course because tax laws are different in each country.
What these tax breaks do is give you huge cash flow to run your business. You can claim back on the taxes paid and get a refund to run your business. In case there are unrecovered losses then these can be forward to the next year and claimed back when your business starts to generate income.
In most cases the tax incentives are so generous that they can fund your business in the initial stages. What most people do not realize is that when you take tax incentives into account the break even point of your business is much closer than you think.
Please do not join network marketing just to get tax refunds. You have to be active in the business to claim refunds otherwise the taxman will come knocking on your doors. Having said that tax incentives provide a huge motivation to start your home based business and save on those dollars that will invariably go to the taxman never to be seen again. Network marketing is without doubt the best route to start your own home business and get on to the road to financial freedom. It is the best program if you are looking for an early retirement.
Make sure your team members succeed. When you help them make money, they will help YOU make money!
Be a part of our DREAM TEAM
http://www.myteamabundance.com
See the MLMLeadSystemPro System for yourself:
http://www.wealthonlineguru.com
Dedicated to your success,
Praveen Kumar
Online business and lifestyle coach
+64 9 8348585 (GMT+12)
"Believe and it WILL happen. YOU will make it happen!"
The FIRST EVER Fully Branded, Customizable, Lead Generation &
Attraction Marketing System Of Its Kind That Combines Attraction
Marketing, Affiliate Marketing, CashFlow Programs And Traditional MLM
into ONE Super Powered Profit Pulling Machine:
rel="tag">http://www.wealthonlineguru.com
Monday, September 15, 2008
THE POWER OF COMPUNDING IN NETWORK MARKETING
If you throw in the towel after just a few weeks or months of not receiving favorable results then there is no chance of you making any money in the network marketing business. It takes time to master any sort of techniques that will bring you an income. People who go “opportunity hopping” rather than commit to learning how to market one opportunity correctly will remain broke.
I have met many “network marketers” who give up on opportunities when they meet slightest amount of problems. They want to make easy money. They jump from one opportunity to another hoping against hope that they will hit a gold mine. They continue to sing the same song and dance the same dance, each time with a NEW company’s name behind their act? The truth is that such people have ZERO INTEGRITY.
By ‘opportunity hopping’ these people sabotage their OWN ability to make any money regardless of what business opportunity they join. They also confuse the people whom they sponsor with their confused state of mind. Either you have to be consistent or learn to accept being broke.
NETWORK MARKETING WORKS ON COMPOUNDING PRINCIPLE
UNFOTUNATELY MOST PEOPLE DO NOT COMPREHEND HOW THE POWER OF COMPOUNDING ACTUALLY WORKS.
Albert Einstein, who had perhaps one of the finest mind in the history of mankind, once remarked “One of the most amazing phenomenon of our universe is the power of compounding”. It is equally amazing that so few fully understand either its power or application.
For ease of understanding let us take an example. Suppose you start your network marketing business by sponsoring one person in the first month. Imagine too that you teach/help this person to sponsor one person. Let us say this teaching and sponsoring process takes one month. In month two if you personally sponsor one more person and the person whom you sponsored in the first month also sponsors one person then you will have 4 people in your team. In month three you will have 8 persons in your team through sponsoring and training. If the same process is repeated month after month your organization will grow in the following manner:-
Month 1: You + 1 = 2
Month2: 2 +2 = 4
Month3: 4+4 = 8
Month 4: 8+8 = 16
Month 5: 16+16 = 32
Month 6: 32+32 = 64
Month 7: 64+64 = 128
Month8: 128+128 = 256
Month9: 256+256 = 512
Month10: 512+512 =1024
Month 11: 1024+1024 = 2048
Month12: 2048+2048 = 4096
If you observe the table you will find that after three months your team has only 8 members. Nothing exciting. You might be subsiding your purchases. But wait…..sixth month you organization will grow to 64. You will be earning a little money to sustain your interest but NO BIG DEAL. Your life and financial future have not changed. On completion of 9 months your team has now grown to 512. Now for the first time you are seeing the fruits of your labour. There is a renewed understanding that the business actually works. The fun is not over …… in the 12th month your organization is taking a life of its own. It has now grown to 4096. Each member of your team is trying to secure his/her financial future. Your organization is not only big but growing at a faster rate without much effort from you. Your passive income is flowing in ever greater amounts each month. You feel rich for the first time in your life. The essential fact is that during the 12 month period you have only sponsored 12 people into the business and trained them to conduct the business properly. The remainder of your network has been created through power of leverage. In the first month your organization had just two people in it. In the twelfth month it grew by 2048 people for the same effort on your part. This is the amazing power of compounding in network marketing.
If compounding and growing a network is so simple then why don’t most people succeed? The reason is very simple but most people don’t get it ………. the power of networking and compounding takes time to take effect.
The Tunneling Effect
In network marketing when you first start out, all the hard work takes place upfront, at the beginning. You have nothing to show for your effort. This is called the ‘Tunneling Effect’. There is darkness all around and little hope. This is where most people give up because they do not see any results for their sacrifice, hard work and effort. Most people who come to network marketing come from jobs where they are paid by the hour. They are accustomed to seeing a direct correlation between the hours they have worked and the compensation they have received. If they worked 5 hours they expect 5 hours pay. In a network marketing business one has to think like an entrepreneur. When an entrepreneur starts a business there is a gestation period. He knows that profits will flow in due course of time if the business is set up correctly. An entrepreneur works one hundred hours and gets paid nothing. And once the business is set up he can work five hours and get paid for one thousand hours. People in jobs who enter network marketing have to go through a shift in mental attitude. Initially network marketing does not pay you by the hour. If there is little patience and perseverance at this stage then there is not only light at the end of the tunnel but full glory of the sun. Anyone who has become rich has passed through this dark tunnel. There is no escaping it.
In network marketing you have to learn and teach people to take a long-time approach to the growth of their business. It takes time to grow organizations. It takes time to create depth and ongoing duplication. It takes time to develop a team and create serious residual income. Those who can develop and maintain a mind set of an entrepreneur understand this and succeed. Those who fail to grasp this simple truth fail in this business.
IN NETWORK MARKETING YOU ARE LIKE A ROCKET THAT BURNS 90% OF ITS FUEL AT THE TAKE OFF STAGE. ONCE YOU ARE IN ORBIT IT IS CRUISE CONTROL. IT WILL TAKE TIME AND EFFORT ON YOUR PART TO SUSTAIN AND GROW YOUR BUSINESS IN THE INITIAL STAGES.
Warren Buffet, one of the richest men in the world, remarked about his wife when he was building his wealth “Susie didn't get very excited when I told her we were going to get rich. She either didn't care or didn't believe me - probably both, in fact.” You can read the biography of any wealth creator and you will find in it the universal truth of the ‘tunneling effect’ and how they wanted to quit but didn’t. In network you will never make it if you quit before you reach the critical mass. Then the real fun starts.
Critical Mass
If you persist and as the time goes on the critical mass kicks in and things get better. Your network becomes self perpetuating. It starts growing under its own steam. The challenge at this stage is not to change course. The problem with the human mind is that it loses focus very quickly. It gets attracted to other thought and ideas. It will start looking at other options. The key here is to maintain focus. Compounding is boring -- b-o-r-i-n-g. It is boring until the money starts to pour in. Then, believe me, compounding becomes very interesting. In fact, it becomes downright fascinating! Compounding if allowed to continue will take your wealth to unlimited levels.
Ninety percent of the people drop out from network marketing because they do not fully appreciate the power of compounding. They get discouraged when facing the tunneling effect and quit. They don’t understand that light is just around the corner. Dogged persistence is a great quality to have if you want to succeed.
Compounding Only Works through Time
The great thing about network compounding is that anyone can do it. Compounding is the royal road to riches. Compounding is the safe road and the sure road. To compound successfully you need the following: perseverance in order to keep you firmly on the path of creating a successful network. And you need time, time to allow the power of compounding network to work for you. Remember, compounding only works through time. Time in fact is the most powerful element in the process of compounding. Nothing comes close to it.
It takes time, effort, practice and patience to become good at network marketing and build a business. Don’t quit when the success is around the corner. Above all stay FOCUSED.
Be a part of our DREAM TEAM
http://www.myteamabundance.com
See the MLMLeadSystemPro System for yourself:
http://www.wealthonlineguru.com
Dedicated to your success,
Praveen Kumar
Online business and lifestyle coach
+64 9 8348585 (GMT+12)
"Believe and it WILL happen. YOU will make it happen!"
The FIRST EVER Fully Branded, Customizable, Lead Generation &
Attraction Marketing System Of Its Kind That Combines Attraction
Marketing, Affiliate Marketing, CashFlow Programs And Traditional MLM
into ONE Super Powered Profit Pulling Machine:
http://www.wealthonlineguru.com
I have met many “network marketers” who give up on opportunities when they meet slightest amount of problems. They want to make easy money. They jump from one opportunity to another hoping against hope that they will hit a gold mine. They continue to sing the same song and dance the same dance, each time with a NEW company’s name behind their act? The truth is that such people have ZERO INTEGRITY.
By ‘opportunity hopping’ these people sabotage their OWN ability to make any money regardless of what business opportunity they join. They also confuse the people whom they sponsor with their confused state of mind. Either you have to be consistent or learn to accept being broke.
NETWORK MARKETING WORKS ON COMPOUNDING PRINCIPLE
UNFOTUNATELY MOST PEOPLE DO NOT COMPREHEND HOW THE POWER OF COMPOUNDING ACTUALLY WORKS.
Albert Einstein, who had perhaps one of the finest mind in the history of mankind, once remarked “One of the most amazing phenomenon of our universe is the power of compounding”. It is equally amazing that so few fully understand either its power or application.
For ease of understanding let us take an example. Suppose you start your network marketing business by sponsoring one person in the first month. Imagine too that you teach/help this person to sponsor one person. Let us say this teaching and sponsoring process takes one month. In month two if you personally sponsor one more person and the person whom you sponsored in the first month also sponsors one person then you will have 4 people in your team. In month three you will have 8 persons in your team through sponsoring and training. If the same process is repeated month after month your organization will grow in the following manner:-
Month 1: You + 1 = 2
Month2: 2 +2 = 4
Month3: 4+4 = 8
Month 4: 8+8 = 16
Month 5: 16+16 = 32
Month 6: 32+32 = 64
Month 7: 64+64 = 128
Month8: 128+128 = 256
Month9: 256+256 = 512
Month10: 512+512 =1024
Month 11: 1024+1024 = 2048
Month12: 2048+2048 = 4096
If you observe the table you will find that after three months your team has only 8 members. Nothing exciting. You might be subsiding your purchases. But wait…..sixth month you organization will grow to 64. You will be earning a little money to sustain your interest but NO BIG DEAL. Your life and financial future have not changed. On completion of 9 months your team has now grown to 512. Now for the first time you are seeing the fruits of your labour. There is a renewed understanding that the business actually works. The fun is not over …… in the 12th month your organization is taking a life of its own. It has now grown to 4096. Each member of your team is trying to secure his/her financial future. Your organization is not only big but growing at a faster rate without much effort from you. Your passive income is flowing in ever greater amounts each month. You feel rich for the first time in your life. The essential fact is that during the 12 month period you have only sponsored 12 people into the business and trained them to conduct the business properly. The remainder of your network has been created through power of leverage. In the first month your organization had just two people in it. In the twelfth month it grew by 2048 people for the same effort on your part. This is the amazing power of compounding in network marketing.
If compounding and growing a network is so simple then why don’t most people succeed? The reason is very simple but most people don’t get it ………. the power of networking and compounding takes time to take effect.
The Tunneling Effect
In network marketing when you first start out, all the hard work takes place upfront, at the beginning. You have nothing to show for your effort. This is called the ‘Tunneling Effect’. There is darkness all around and little hope. This is where most people give up because they do not see any results for their sacrifice, hard work and effort. Most people who come to network marketing come from jobs where they are paid by the hour. They are accustomed to seeing a direct correlation between the hours they have worked and the compensation they have received. If they worked 5 hours they expect 5 hours pay. In a network marketing business one has to think like an entrepreneur. When an entrepreneur starts a business there is a gestation period. He knows that profits will flow in due course of time if the business is set up correctly. An entrepreneur works one hundred hours and gets paid nothing. And once the business is set up he can work five hours and get paid for one thousand hours. People in jobs who enter network marketing have to go through a shift in mental attitude. Initially network marketing does not pay you by the hour. If there is little patience and perseverance at this stage then there is not only light at the end of the tunnel but full glory of the sun. Anyone who has become rich has passed through this dark tunnel. There is no escaping it.
In network marketing you have to learn and teach people to take a long-time approach to the growth of their business. It takes time to grow organizations. It takes time to create depth and ongoing duplication. It takes time to develop a team and create serious residual income. Those who can develop and maintain a mind set of an entrepreneur understand this and succeed. Those who fail to grasp this simple truth fail in this business.
IN NETWORK MARKETING YOU ARE LIKE A ROCKET THAT BURNS 90% OF ITS FUEL AT THE TAKE OFF STAGE. ONCE YOU ARE IN ORBIT IT IS CRUISE CONTROL. IT WILL TAKE TIME AND EFFORT ON YOUR PART TO SUSTAIN AND GROW YOUR BUSINESS IN THE INITIAL STAGES.
Warren Buffet, one of the richest men in the world, remarked about his wife when he was building his wealth “Susie didn't get very excited when I told her we were going to get rich. She either didn't care or didn't believe me - probably both, in fact.” You can read the biography of any wealth creator and you will find in it the universal truth of the ‘tunneling effect’ and how they wanted to quit but didn’t. In network you will never make it if you quit before you reach the critical mass. Then the real fun starts.
Critical Mass
If you persist and as the time goes on the critical mass kicks in and things get better. Your network becomes self perpetuating. It starts growing under its own steam. The challenge at this stage is not to change course. The problem with the human mind is that it loses focus very quickly. It gets attracted to other thought and ideas. It will start looking at other options. The key here is to maintain focus. Compounding is boring -- b-o-r-i-n-g. It is boring until the money starts to pour in. Then, believe me, compounding becomes very interesting. In fact, it becomes downright fascinating! Compounding if allowed to continue will take your wealth to unlimited levels.
Ninety percent of the people drop out from network marketing because they do not fully appreciate the power of compounding. They get discouraged when facing the tunneling effect and quit. They don’t understand that light is just around the corner. Dogged persistence is a great quality to have if you want to succeed.
Compounding Only Works through Time
The great thing about network compounding is that anyone can do it. Compounding is the royal road to riches. Compounding is the safe road and the sure road. To compound successfully you need the following: perseverance in order to keep you firmly on the path of creating a successful network. And you need time, time to allow the power of compounding network to work for you. Remember, compounding only works through time. Time in fact is the most powerful element in the process of compounding. Nothing comes close to it.
It takes time, effort, practice and patience to become good at network marketing and build a business. Don’t quit when the success is around the corner. Above all stay FOCUSED.
Be a part of our DREAM TEAM
http://www.myteamabundance.com
See the MLMLeadSystemPro System for yourself:
http://www.wealthonlineguru.com
Dedicated to your success,
Praveen Kumar
Online business and lifestyle coach
+64 9 8348585 (GMT+12)
"Believe and it WILL happen. YOU will make it happen!"
The FIRST EVER Fully Branded, Customizable, Lead Generation &
Attraction Marketing System Of Its Kind That Combines Attraction
Marketing, Affiliate Marketing, CashFlow Programs And Traditional MLM
into ONE Super Powered Profit Pulling Machine:
http://www.wealthonlineguru.com
Subscribe to:
Posts (Atom)
Posts
