What is MLM?
9 years ago
Sunday, September 28, 2008
What would you like to know about network marketing?
If you have questions about the basics of network marketing, there are few sources better than the website created by Tim Sales, an experienced and successful network marketer. This is a GREAT place to start to learn more about the industry. http://www.firstclassmlm.com/
Thursday, September 25, 2008
Selecting a company
The importance of choosing a great company:
Network Marketing is a $40 billion per year industry where 25% of those that are working full-time are making in excess of $100,000 per year. It is a great industry to be part of, however, a critical element of having success in this industry is aligning yourself with a great company. Unfortunately, this is the #1 reason that people fail in network marketing…they do not know what to look for in a company.
For most people, the primary factor that causes them to select one company over another comes from their excitement about the product or service that the company provides. While this is an important factor (you must believe in your product), you could have the best product in the world and still go out of business due to poor management. On the other hand, there are many people marketing products and services that are hardly revolutionary or life changing and they are making millions of dollars.
So, let’s briefly cover the 6 most important elements (in order) that go into selecting a good company:
1. Owners – No company is better than the people running it. You should know everything that the owners have done for the last 20 years; good and bad.
2. Coaches – Who are the top distributors, what is their background and who will YOU be working with directly on a daily basis. Even if you are with a great company, you need to be working directly with somebody that is making a good income and knows what they are doing.
3. Systems – People are not duplicable. Systems are. McDonalds isn’t the most successful burger franchise because they make the best burger, but because they have a duplicable system. There needs to be a simple, effective system in place that anybody can follow to successfully build their business.
4. Tools – Tools give you leverage. Who can dig a trench faster? 100 burly men with shovels or an 80-year man with a tractor/excavator? There need to be effective and inexpensive marketing and training tools at your disposal.
5. Compensation Plan – Everybody says that their compensation plan is the best. Take the time to look at 3rd party materials that discuss the pros and cons of different compensation plans and see how yours stacks up. Also, it is important that you can easily understand the compensation plan, easily explain it to others and easily make money with it!
6. The Product or Service – This is pretty obvious. You need to be offering something that people want at a price that they will pay for. Keep in mind, if your company is successful there WILL be competition. How is your product or service protected from being easily duplicated by competitors?
A great resource for researching other companies is www.mlmwatchdog.com . This website keeps tabs on all of the happenings in the industry; good and bad.
There are SO many other things that we could discuss with this very important topic. If there are any questions that I can answer for you, please e-mail me at patpetrini@gmail.com.
To your success!
Pat Petrini
Network Marketing is a $40 billion per year industry where 25% of those that are working full-time are making in excess of $100,000 per year. It is a great industry to be part of, however, a critical element of having success in this industry is aligning yourself with a great company. Unfortunately, this is the #1 reason that people fail in network marketing…they do not know what to look for in a company.
For most people, the primary factor that causes them to select one company over another comes from their excitement about the product or service that the company provides. While this is an important factor (you must believe in your product), you could have the best product in the world and still go out of business due to poor management. On the other hand, there are many people marketing products and services that are hardly revolutionary or life changing and they are making millions of dollars.
So, let’s briefly cover the 6 most important elements (in order) that go into selecting a good company:
1. Owners – No company is better than the people running it. You should know everything that the owners have done for the last 20 years; good and bad.
2. Coaches – Who are the top distributors, what is their background and who will YOU be working with directly on a daily basis. Even if you are with a great company, you need to be working directly with somebody that is making a good income and knows what they are doing.
3. Systems – People are not duplicable. Systems are. McDonalds isn’t the most successful burger franchise because they make the best burger, but because they have a duplicable system. There needs to be a simple, effective system in place that anybody can follow to successfully build their business.
4. Tools – Tools give you leverage. Who can dig a trench faster? 100 burly men with shovels or an 80-year man with a tractor/excavator? There need to be effective and inexpensive marketing and training tools at your disposal.
5. Compensation Plan – Everybody says that their compensation plan is the best. Take the time to look at 3rd party materials that discuss the pros and cons of different compensation plans and see how yours stacks up. Also, it is important that you can easily understand the compensation plan, easily explain it to others and easily make money with it!
6. The Product or Service – This is pretty obvious. You need to be offering something that people want at a price that they will pay for. Keep in mind, if your company is successful there WILL be competition. How is your product or service protected from being easily duplicated by competitors?
A great resource for researching other companies is www.mlmwatchdog.com . This website keeps tabs on all of the happenings in the industry; good and bad.
There are SO many other things that we could discuss with this very important topic. If there are any questions that I can answer for you, please e-mail me at patpetrini@gmail.com.
To your success!
Pat Petrini
Sunday, September 7, 2008
Professional Network Marketing
I learned Friday that UNR Extended Studies approved my request to offer a course that will result in a Certificate in Professional Network Marketing. We hope to do our first offering in Spring 09. The course will address the "why" of network marketing - why the industry is legitimate and a great alternative for aspiring entrepeneurs. I won't cover much of the "how" of network marketing, except how to set up your business, how to establish purpose and operating principles for the business, and how to operate ethically. I'm really looking forward to it!
Sunday, August 31, 2008
Donald Trump on Network Marketing
Did you know Donald Trump endorses network marketing? Here is a sample of what he says about it:
“Network marketing has proven itself to be a viable and rewarding source of income, and the challenges could be just right for you. There have been some remarkable examples of success, and these successes have been earned through diligence, enthusiasm, and the right product combined with timing.” Pp 311-312; Trump, D.J. and Kiyosaki, R.I. 2006. “Why We Want You To Be Rich: Two Men, One Message.”
“Network marketing has proven itself to be a viable and rewarding source of income, and the challenges could be just right for you. There have been some remarkable examples of success, and these successes have been earned through diligence, enthusiasm, and the right product combined with timing.” Pp 311-312; Trump, D.J. and Kiyosaki, R.I. 2006. “Why We Want You To Be Rich: Two Men, One Message.”
Pyramid Scheme?
Here is a quote from Robert Kiyosaki:
“I am often asked if network marketing is a pyramid scheme. My reply is that corporations are really pyramid schemes. A corporation has only one person at the top, generally the CEO, and everyone else below. A true network marketing business is the exact opposite of a traditional business model. A network marketing business is designed to bring you up to the top, not keep you down at the bottom. A true network marketing business does not succeed unless it brings people up to the top.” Pp. 307-308. Trump, D.J. and Kiyosaki, R.I. 2006. “Why We Want You To Be Rich: Two Men, One Message.”
Now check out his videos on the subject.
http://www.youtube.com/watch?v=ZZQqyVG5czQ
http://www.youtube.com/watch?v=nDPcHwvCJFY&feature=related
“I am often asked if network marketing is a pyramid scheme. My reply is that corporations are really pyramid schemes. A corporation has only one person at the top, generally the CEO, and everyone else below. A true network marketing business is the exact opposite of a traditional business model. A network marketing business is designed to bring you up to the top, not keep you down at the bottom. A true network marketing business does not succeed unless it brings people up to the top.” Pp. 307-308. Trump, D.J. and Kiyosaki, R.I. 2006. “Why We Want You To Be Rich: Two Men, One Message.”
Now check out his videos on the subject.
http://www.youtube.com/watch?v=ZZQqyVG5czQ
http://www.youtube.com/watch?v=nDPcHwvCJFY&feature=related
Reasons why you should consider network marketing (Kiyosaki & Lechter, 2005)
· There is a low entry cost to get started in a network marketing business
· No formal education or degree is required to qualify for most companies
· The industry is open to everyone, regardless of your gender, age, or race
· Companies provide established systems, already proven successful, available for you to use to build your business
· Many companies provide good education and training programs to help you become successful
· There are mentors, successful in the business, ready to assist you in your business
· You can start a network marketing business part-time and build it while you keep your job
· There are many tax advantages available to a business owner, which are not available to you as an employee
· No formal education or degree is required to qualify for most companies
· The industry is open to everyone, regardless of your gender, age, or race
· Companies provide established systems, already proven successful, available for you to use to build your business
· Many companies provide good education and training programs to help you become successful
· There are mentors, successful in the business, ready to assist you in your business
· You can start a network marketing business part-time and build it while you keep your job
· There are many tax advantages available to a business owner, which are not available to you as an employee
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