MLM (Multi-level Marketing) sucks!

MLM really sucks if you don’t have the 6 following traits:

  1. An open mind:
  2. Willingness to learn;
  3. Willing to work hard;
  4. Willing to use the system;
  5. Willing to be coached;
  6. Willing to make your fortune.

MLM

Multi-level Marketing (MLM) levels the playing field for everyone regardless of where and how you grew up, your current social position or your education.

Great MLM companies have compensation plans tied directly your efforts. Some will progress faster at the beginning because they are more open minded or coachable. Others may have already learned the basics before.

Your progress will be determined more by your personal efforts and willingness to learn. Is your mind open to creating your wealth and success?

Open Mind

Question?Most of us grow up and learn certain biases. For example, your parents may have always told you weren’t as smart as others so there is no way you will ever be rich. To make themselves and their children feel better, they constantly cut down rich people and said how evil they are. “Why would I want to be like them!”. When something is reapeted often enough, we start to believe our own lies.

Your mind is like a parachute, it only works when it’s open. Are you willing to consider that pre-conceived ideas could be wrong?

Willing to Learn

If you open your mind and are willing to learn, great MLM companies offer a lot of free training that would likely cost more than a university and would benefit you with new knowledge and might actually pay you in the process.

Doing business of any kind usually has some cost associated with it but when you are working MLM, it’s likely that it’s more likely that when you make the effort to applied your learned knowledge, the resulting profits outweigh the cost of your time and maybe a little money. Are you willing to apply what you learn?

Willing to Work Hard

You are your own boss. No one will be telling you what to do in a MLM Opportunity. Your income is the direct result of your efforts. When you “hired” yourself, did you consider your “employee’s” work ethic?

We get nothing for nothing in this life. The greatest cost in your business is your time and efforts. What are you willing to do to get what you want?

Willing to Follow A System

collaboration imageGreat MLM companies have a proven system of success. Can you accept that they know more than you and can help you achieve your goals if you open yourself up to change?

I’m not saying you have to do your business exactly as your sponsor did. Successful systems have room for individual expression. Find the parts that fit your personality and use them. For example, maybe you are more comfortable using technology, use that for your initial exposures and then follow up. Alternatively, maybe you prefer to meet in person and use a flip book. Then, do that!

Whatever the system is, find a way to make it fit your style without breaking the business model. This is a business.

Willing To Be Coached

Odds are pretty good that you have a fairly strong personality or you wouldn’t consider MLM as an option. Don’t kid yourself, you might just be passive aggressive. This means your ego may get in the way and it could take a while before you realize it.

Most of us go through that period where we insist we can do it. I may find my sponsor too aggressive and decide I don’t want to be like him/her. They have already proved they can do the business or you would have been their sponsor!

When you realize you don’t have to be exactly like them, you only need to open up o them coaching you and success just might show her face. If what you are doing is easy, it probably won’t work. Let your coach show you how to stretch and get outside your comfort zone.

Ask yourself, am I coachable?

Willing To Make Your Fortune

authorityBlogThinking you want success and money is very different than actually believing it you deserve it. We all have a map burned into our brain that we get directions from. This map was created when you were very young and is seared into your subconscious. Many of us sabotage our own success because we get stuck on the road that is mapped there. I highly recommend reading T Harv Eker’s book, Secrets Of The Millionaire Mind to help you understand what you need to do in order to break the patterns established over your lifetime.

Is your success worth doing some reading to help yourself? Are you willing to make changes? Are you willing to make your fortune?

It’s all up to you to determine what success is for you and how much of a fortune you want.

Just decide!

Make it a great day,

Barry

P.S. What am I thankful for today? I’m thankful Jeff Olsen taught me to read 10 pages of a good book every day. I’m thankful my sponsors don’t give up on me. I’m thankful my wife supports me.

What are you thankful for today?

The Sales Process: Do you have one?

Your sales process will define your success. Do you have one? Make sure you understand the difference between sales and marketing when you develop your processes.

What is a “Sales Process”?

Process flow chart.The sales process is every step you take from marketing a product or service to post sale maintenance and support. The sales process isn’t finished at the point of sale. You still need to build in post sale follow up to ensure your client stays sold and becomes a raving fan. Referrals should be part of the sales process.

Marketing isn’t sales!

Marketing is the promotion of your idea whether a service or product. This is part of the sales process but not the actuall selling. You never close a sale when you are marketing.

Most people don’t know they need what you are selling. Marketing is educating your prospect about the value you bring to the table and helping them understand why they should buy from you. You’re not selling at this point. You are effectively creating the customer.

Marketing

Define your opportunity.

Man with list of check marks in a column beside him.Here are five questions you need to answer before you get anywhere near developing your marketing strategy and sales process.

  1. What are you selling?
  2. Why are you selling it?
  3. Who are you selling to?
  4. When are you selling?
  5. Where are you selling?

Design a sales process.

  • Creating a list of prospects.
  • How will you approach them?
  • What is the follow up?
  • How will you close?
  • What is the post sale process?

Selling

Work the plan.

Once you have designed your sales process, it’s time to work your plan. The challenge will be sticking to your plan. Part of a good plan is “Plan, Do, Review”. Set a schedule. Once your plan is done, decide how long you will work the plan and when you will sit to review what works and what doesn’t.

There will be nay sayers who will try to convince you a business is a bad idea. Everyone will have suggestions on how to run your business. It’s prudent to take in good advice but don’t let it derail your plan. Wait for the review and then weigh the advice you have received against your experience. Tune up the plan rather than making wholesale changes and go back to the “do” period.

Earn Referrals.

3D-Women-Shake-Hand-01During your sales process, you will make an impression whether you win the business or not. By selling with intent and integrity, people will come to trust that you are the consumate professional. When you have earned their trust, you have earned the privilege to ask for referrals.

Back to the dating analogy, when people know, like and trust you, they will be very open to making an introduction if you ask them. Tell them who you want to meet. Describe your ideal prospect and ask for introductions. If you don’t ask, they don’t usually think to offer.

Earning and asking for referrals should be built into your sales process.

Business In A Box

Does all of the above sound like a lot of work? You bet it is! You have choices to make. What are you willing to do? You can work out your own strategies. Alternatively, you can buy a “business in a box”. You can buy a franchise system and set up multiple distribution points.

Robert Kyosaki wrote a book called “The Business Of The Century” explaining that MLM is the next business evolution. Faster and more effective, you could consider a multi-level marketing opportunity to get you started.

woman carrying moneyIf financial resources are limiting you from building a bricks and mortar business or buying into a franchise, consider working with a Multi-Level Marketing group to get you started. Remember, MLM is a business and there will be costs.

Make sure you understand what the ongoing operating cost is and be realistic in your expectations. MLM is like going to university. You will learn and it will change you. You may decide the MLM is all you need or you will learn and earn while you work toward your ultimate dream business.

“If it’s to be, it’s up to me”!

What are you willing to do?

Make it a great day,

Barry

P.S. What am I thankful for today? I’m thankful for opportunity. I’m thankful for justice. I’m thankful for chances for personal development.

What are you thankful for today?

Disaster Recovery: Do You GotBackup?

Disasters happen. Gotbackup can minimize the pain.

Losing Pictures

My son who is now gone. I couldn't replace this picture.

My son who is now gone.

This has probably never happened to you but I have lost years worth of precious pictures when a hard drive died.

I know, backup, backup!

Now I worry about what happens if it dies and I have forgotten to plug in my external hard drive or worse yet, the house burns down with all my computers inside. That means not only are the electronic pictures gone but the originals are lost forever. I have pictures that are almost 100 years old!

I guess I could scour family Facebook posts but the resolution would be so bad I would be lucky to get a good 3×5. That would take a lot of pictures to fill a wall.

But I #GotBackup! With Got Backup, I can reach my files from anywhere. 500GB worth of data from anywhere in the world.

Make It An Automatic Backup

Any good backup solution should be automated. In the old days, I would sell hardware solutions that required remembering to have the right tape in the machine. Yep, the machine knew if it was the wrong tape and that backup wouldn’t run. Wouldn’t it be nice to not have to think about your backup? Mine is automatic now. Thinking hurts too much!
Picture of man running with a burning computer.

Access Files From Anywhere

Backup your files to an off site secure storage facility and you can recover from anywhere. Many of us have specialists do the recovery work, especially when it involves our business files. Imagine your technician being able to log into your account and recover years of accounting data that you thought was lost. CRA or IRS(Canada Revenue Agency or Internal Revenue Service) will be much happier and just having the data when they call may prevent an audit because you were able to answer their questions.

3D-Women-Question-02Imagine being at the office and realizing you needed a file that is in your documents folder on the computer at home. Not that it ever happens to me!

No problem, just log into your GotBackup site and download it! If you want to, get the package that allows you to share files with friends and co-workers. It’s just as secure as the bank. I would still password the more sensitive stuff on an individual basis.

Take a look at Got Backup. You might even make money preventing disaster!

Make it a great day,

Barry

P.S. What am I thankful for today? I’m thankful I learned to keep a good backup before it was too late. I’m thankful for GVO. I’m thankful for opportunity.

What are you thankful for today?

MLM or MBA? What’s the difference?

Multi-Level Marketing (MLM) has more value than a Masters in Business Administration (MBA). The funny thing is that MBA’s are likely to be offended by that statement. (My apologies in advance to MBA’s. This is to demonstrate a point that will make sense later.)

Masters in Business Administration (MBA)

Business woman with a briefcase.This designation tells me that you have the ability to study, stay focussed and finish what you start.

An MBA likely spent four or more years in University and $60,000 to $100,000 of someone’s hard earned or borrowed money. Many graduate with large student debt and missed the opportunity to make double that income. That means the true cost is likely upwards of $300,000. (Average cost of Tuition in Ontario:  $8,474)

Now it’s time to find a job or start a business. I have heard of people graduating with their MBA only to end up in a retail job making $30,000 a year with a debt load equal to two times their annual salary. Let’s see, the cost of a $60,000 loan would be approximately $552/month at 2% for 10 years. That’s if you are lucky enough to get away with 2%.

Should you want to start a business, it will cost you thousands if not hundreds of thousands of dollars to buy a franchise or start a business from the ground up. Let’s see, you have a monthly commitment of $552 a month with no source of income and you want me to lend you money to start a business?

Congratulations! You’re an MBA!

Multi-Level Marketing (MLM)

This is a Life Long Learning Plan! “Tuition” may be as little as a couple of hundred dollars, once. From there, the ongoing costs can usually be controlled by you.

man-with-barsFor example, one my wife and I are involved in has a one time cost of $249 and then the only fixed cost is a monthly membership in a #LegalSavingsPlan that ends up saving us far more than the cost of the plan itself. Some people make a few dollars a year while others make hundreds of thousands. Like any business, it’s what you are willing to do that makes the difference.

Between meetings and our membership, our average operating cost is about $150 per month. You can’t realistically work in any sales industry for less than that. When I was in financial services, my monthly cost as a consultant was about $1,000 per month. If you can’t afford $150 a month, you shouldn’t get involved in any business.

What are the benefits?

Most MLM companies provide continuous education in areas like financial planning, sales techniques, time management, personal development and more. They also provide a supportive environment where you can feel safe and try new ideas.

What are the negatives?

The reality is we, ourselves, are the negatives. Success in a MLM opportunity is totally up to you and what you are willing to do.  Will you focus on your activity and use your time effectively? Can you make the choice to tune out the naysayers?

MBA or MLM

Only you can decide. What’s the old saying? “Different strokes for different folks”!

3D-Women-Arrow-02Some need the structure that an MBA and employment bring to their life. Others are more entrepreneurial and self directed and will find MLM a better way to go. There is no right or wrong direction, just the right or wrong one for you.

In my opinion, MLM is a path that those who lack huge financial resources can take to achieve their life goals, not necessarily just money. I have seen huge personal growth and transformation in many people over the past few years in our business, including an MBA who came to heed his father’s advice after trying corporate Canada!

What will you choose?

Make it a great day,

Barry

P.S.  What am I thankful for today? I’m thankful for opportunity. I’m thankful for differences. I’m thankful for life long learning.

Buying and Selling: What’s your preferred distribution model?

There is more than one distribution model for buying and selling products and services.  How do you like to sell?  How do you like to buy?

DISTRIBUTION MODELS

3D-Women-Arrow-02How many ways can you buy and sell?

 

I would be glad to hear about any other ways that you know of.  In the meantime, lets look at the differences and similarities of these models.

similarities

  • All provide a product or service.
  • All are legitimate methods.
  • All create “jobs”. (Some may be self-employed)
  • All offer opportunities for personal growth and development.
  • All contribute to a growing economy.

differences

  • Ownership.
  • Organization.
  • Product and service distribution.

BRICKS AND MORTAR

Businesses that set up in physical locations are commonly referred to as a “bricks and mortar” business.  These are most commonly retail and wholesale operations and personal or business to business service providers.  I can’t say I have heard of anything less than $50,000 unencumbered cash to get started in some years now.

  • Lawyers; Doctors; Dentists; etc.
  • Salons and spas; auto repair; plumbers; electricians; etc.
  • Grocery stores; Car dealers; Electronics stores (Future Shop, Best Buy); etc.
  • Marketing firms; Print shops; Management consultants; etc.

More often than not, these companies have a top down, pyramidal management structure.  Sometimes the roles all fall to one person!  You will rarely see direct sales companies, MLM or Network Marketing companies with a bricks and mortar location outside of their head office.  There are some exceptions.

 

INTERNET

gvo-Header.jpgSome companies are purely internet based.  eBay for example has a physical office for administration but don’t have a location that you can walk into to do your shopping.  Starting your own internet business from scratch will require specialized skills and a fair bit of cash for servers, software, internet services and so on.

Most distribution channels will use the internet for marketing.  Some will have call centres where you can talk to a real person.  These companies still have a top down structure.  Others may combine Direct Sales models or Network Marketing with their Internet marketing efforts.

 

DIRECT SALES

Companies like:

are direct sales companies.  Products and services are typically sold through home demonstrations and you have the ability to build a team under you.  You will likely be paid on the productivity of your direct team but not much further down.  If you stop selling, your income stops with it.

 

MULTILEVEL MARKETING OR MLM

Are you looking for a business opportunity that requires little cash outlay or specialized skills to get started?  Opportunity knocks!  The greatest advantage to Multilevel Marketing (MLM) is the opportunity for personal development and the opportunity to learn while you earn.

 

Why Robert Kyosaki recommended Network Marketing from Morse Wong on Vimeo.

 

I would suggest the greatest challenge is choosing companies and products that fit you.  Like any companies and franchises, there are bad and good opportunities.  You still need to do your due diligence in choosing your business partners.

MLM’s are different in that they recognize the importance of the front line sales people.

Although the MLM structure is very similar to most corporations, the treatment of people and profitability for business partners is very different.  You are treated as a business owner, not an employee.  You are paid as a business partner, not an employee.

You are paid:

  • To learn,
  • to sell,
  • to lead,
  • to teach.

When you have built a solid business, most MLM’s with a solid service or product, will pay you for many years after you stop “working”.

 

WHAT IS YOUR PREFERRED BUSINESS MODEL

man-with-barsAll of the above models are legitimate.  Your job is to find something that fits with your “Why” and then decide how to deliver your product or service to the marketplace.  The only “right” answer is the one that fits you and your budget.

You may want to consider taking baby steps.  Robert Kyosaki does a great job of talking about this in “The Business of The 21st Century” and in “Cashflow Quadrant.

I love that old saying: “Life is a journey, not a destination”.  I would suggest that if you don’t like roller coasters, don’t go into business!

 

Make it a great day,

Barry

P.S.  What am I thankful for today?  I’m thankful for all that I have learned through network marketing.  I’m thankful for all that I learned through corporate Canada.  I’m thankful for opportunity.

What are you thankful for today?