Archive for March, 2017

No Adequate Orientation And Training.

The very first of the 4 deadly mistakes made by network marketing up-lines is not laying a solid foundation for their new distributors in the area of adequate orientation and training.

What do I mean? Good question.

You cannot build a great building on a weak foundation if you are going to have a strong superstructure.

Adequate orientation and training can be likened to the foundation of a building. A strong foundation is a prerequisite for a solid superstructure. This in turn determines the ability of the building to withstand thunderstorms. And in the case of network marketing down-lines, ability to face challenges in the course of the business.

That the failure rate in network marketing business is high is directly related to this deadly mistake made by network marketing up-lines. Why did I say sao? Good question.

Because according to www.quora.com/what percentage of start-up fail?, it says that Founders that learn are more successful than those who do not.

Now, pause for a moment. Who do you think should teach new distributors? Obviously, you know the answer- up-lines! Well, you know as much as I do that they fail woefully on this score, and a very deadly mistake made by network marketing up-lines.

Also, according to www.chrisducker.com/internet business failure, all businesses whether large or small, internet, or “brick and mortar” have two things in common:

* they are a business and must be operated like a business.
* business people must understand accepted business principles.

And the harsh truth is that most of us came into network marketing without any business background, myself included.

There are various areas the new distributor requires training.

Success happens because people learn about network marketing and how it works. As a new distributor, you must put in the required amount of efforts, investment of time, money and energy.

Another crucial aspect of training involves good communication skills. This means knowing what to say and how to say it. This is another deadly mistake made by network marketing up-lines.

This is responsible for the alarming failure rate in the business. Rather than offering the business opportunity to the right people, new distributors go on the rampage chasing after families and friends, without first determining if they were interested or not.

Even when friends and family members might be interested in the business, because new distributors lack basic communication skills they resort to saying the wrong things. Eventually, when they are rejected, they get frustrated and quit.

Can you begin to see how deadly these mistakes made by network marketing up-lines?

2. Leading With The Business Opportunity.

The next of the 4 deadly mistakes made by network marketing up-lines is a natural and logical consequence of the first one.

And it is only to be expected. Because down-lines lack proper orientation and training, they go about the business with all the wrong ideas.

What wrong ideas? you ask. Good question. And I will explain.

Because down-lines are so excited, they go about from the roof-top, shouting about the business opportunity.

They concentrate and focus their efforts talking about all the wonderful things the product does. For instance, if they are in the wellness industry, they talk about how the product has been awarded O.R.A.C. certificate and other exotic awards.

Another deadly mistake made by network marketing up-lines is that they spend enormous time talking about the founders of the business, their experiences in the business, and top income earners in the company.

These are deadly mistakes. Why? you ask.

Because, first and foremost, you have not built a personal relationship with the prospect. He has not come to know, like and trust you. The greatest mistake is to forget that this is a relationship business.

Mike Dillard compares network marketing business to dating. You don’t propose to a lady on the first date. It wouldn’t work. You have to build a relationship first; it is a process or journey.

The truth is ultimately, no one cares about those unnecessary facts. At the end of your ramblings, the prospect will merely stare at you and his response would be
‘and so what?, why should I care?’

Rather than focusing on the product or services and the company’s founders and top income earners, it would be more reasonable if you tried to find out the experiences and the interests of the prospects!

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3. Recruiting Mindset.

This is another aspect of the four deadly mistakes made by network marketing up-lines. Most up-lines have the recruiting mindset as against sponsoring mindset. What does that mean? you ask.

The recruiter up-line is basically interested in signing up as many people as he can as quickly as possible to bring them into the business and hoping that a few serious ones would eventually follow his lead.

This is more like a game of chance!

Unfortunately, this is where up-lines make the greatest mistake. This mindset is that of the sales person. His major interest is recruitment of prospects.

Contrast this mindset with that of the up-line who is interested in sponsoring down-lines and you will begin to appreciate why the high failure rate in network marketing business.

Sponsoring, according to Chuck Holmes, is the act of looking for quality people. People with a burning desire to change their life for the better, who are coachable and committed to building a successful network marketing business.

The up-line who sponsors, therefore, is a teacher. His primary focus is to teach his prospects in order to succeed. And this requires investment of time.

The up-line with the recruiter mindset is not interested in investing time and resources in teaching his prospects. Is it any wonder that the failure rate is high in network marketing business?

4.Everyone Is Saying The Same Thing.

Everyone in network marketing business is saying basically the same thing. Take for, instance, spending more time at home, everyone is saying the same thing over and over again. Same goes for “fire your boss.”

To attract prospects, it would be best if you listen to him, pay attention and talk about their experiences and benefits that people care about. Listening is part of rapport building.

Instead of saying “you can make more money” it would be most appealing to prospects if you say “with this business you can make extra money so that you can feel more secure about your retirement.

And the messages used in prospecting are all too generic. All the messages are used for everyone without differentiation. Whether young, old, retired, working, stay at home mothers, etc.

You must know that each of these prospects have different and distinct needs and wants. There is therefore the need to customize your message for each of your prospects.

So there you have it, four of the deadly mistakes made by up-lines.

* No proper orientation and training.
* Leading with the business opportunity.
* Recruiting mindset
* Everyone is saying the same thing.

Why are we saying all these? To serve as feedback to all in the network marketing industry with a view to making adjustments and corrections. Also to ensure we don’t continue to make the same mistakes.

I do hope you got value from this blog post. If you did, please feel free to share it with your team, friends and your network of social media. Want further information or questions, go to my Facebook Fanpage, or call my cell phone:+234-7012328236/8030946171.

Wouldn’t you rather work with me?

There are various amazingly easy ways to effective prospecting in network marketing business. The truth is effective prospecting holds the key to network marketing success.

The purpose of this blog post is to reveal these simple yet profound strategies that I discovered in my search for success in my network marketing business. The objective is to teach, educate, share with you in order to equip you with the right strategies for maximum success in your network marketing business.

But, first, let us answer the question: what is prospecting?

The dictionary defines prospecting as the search for mineral deposits,diamond, gold or oil, especially by drilling and excavation.

This means that the process of prospecting or drilling and excavating for these mineral deposits could be very strenuous, but with the deployment of appropriate tools could be made amazingly easier.

In the same vein, we define prospecting in network marketing as the search for potential customers or buyers. Thus we can as well liken prospecting in network marketing to the search for network marketing diamonds.

Similarly, the process of prospecting for network marketing diamonds can also be made amazingly easier if only you deployed appropriate tools or strategies.

Why diamonds? Excellent question.

Because diamonds are very valuable and last forever, just as the right or quality prospects in network marketing are also very valuable and lasts forever. And it is important to observe that you don’t need many diamonds to become wealthy. Just as a few diamonds can literarily transform your fortune, so also a few quality prospect can transform your network marketing business.

The logical question, then, is who are network marketing diamonds and how do we find them? Excellent question.

Well, in network marketing, diamonds are individuals who have a BIG why or purpose. They are merely waiting for you to discover them. How then do you identify them? Excellent question.

You can identify or discover them by searching for the following characteristics:

* they are open to coaching and flexible

* they are willing to schedule time for their business.

* they are very positive individuals

* they are upbeat individuals

* they are grateful to have found the right business.

How To Find Network Marketing Diamonds.

Whether you are prospecting your warm, could, or hot market, you need to adopt time tested strategies or tools. This is the only way to effective prospecting in network marketing.

Rather than shouting your business opportunity from the roof top to just anyone (unfortunately, that is what uplines teach), you should adopt these easy and simple strategies.

The process of prospecting should at all times begin by initiating a conversation. And to begin the process of initiating a conversation requires knowing what to say and how to say it. And saying the wrong things is the easiest way to send your prospects away.

This is what Big Al Schreiter calls “ice breakers.” The objective at this stage is to establish a relationship with the prospect.

You must not at this stage pitch your business opportunity.

I guess you must be wondering what you should say? Good.

The following acronym provides a solid basis for the “ice breaker.”: F.O.R.M.

*F=Family

*O=Occupation

*R=Recreation

*M=Money

Because all humans share these features of life in common, your discussion should be focused on them. Therefore ask your prospects questions about their family, occupation, and money. As you do, listen intently, areas that are causing stress to them will definitely become evident.

Are you beginning to get the picture? Are you also wondering why these series of question? Because you have a destination where you want to lead your prospect to. Because your goal is to make the prospects sell themselves by revealing their WHY. And by adopting the interview approach, you have the opportunity to achieve that.

Now, let me ask you this question. Have you ever gone for a job interview? What were your experience and observations?

Certainly you would have observed that in most cases, the employer is not selling the employee on taking the job. On the contrary, what happens is that the employee is selling himself on why he should be chosen or recruited over other qualified candidates.

Similarly, as you ask these questions you are making the prospects to sell themselves on why you should help them and not the other way round.

Now, let us look at one area, occupation. It may well be that the possibility of a lay-off may be looming large. Your prospect does not have any savings, or extra money for investments, salary not enough, etc.

As you listen, make notes of these areas, where you have two or three stress areas write them down. This is the most appropriate time to present the concept of your business with a question like: You have several areas that seem to be causing stress, like not having enough time to be with your family, not enough savings for the future.

And I am just wondering if you would be open to possible solution?

If the prospect responds favourably, then present the information about your business and how it will be a solution to his stress.

If the prospect is not excited about joining your business, then move on to the next.

This logically brings us to the issue of posturing.

Business Posturing.

One of the amazing and easy ways to effective prospecting in network marketing is your posturing. Adopting the proper attitude and posturing contribute significantly to your network marketing success.

To achieve that you must realize that you don’t sell. On the contrary, you merely offer the opportunity to someone and the person will either accept or reject it. The choice is entirely his.

Therefore, the proper mindset that a successful network business owner should have is that they are looking for a board member for their business. Consequently, only the best qualifies.

You want someone who is going to be fit and have similar interest. You don’t sell them to become your board member.

Similarly, share the opportunity. If your prospects accept it great, if they don’t, good. They have to want it themselves, you just provide the opportunity. If you convince them against their will they still remain unconvinced. Let them convince and sell themselves.

When you offer an opportunity and don’t sell it, you have what Ken Cloutier calls business posture. Business posture, according to him, simply means a mindset or air of confidence that shows you don’t need just any person that comes your way.

And interestingly, when you have this business posture, you will attract more people to you. They will take you very serious. Why?

Because generally speaking, people tend to desire what they cannot have. This is what Dan Kennedy calls “denied access increases desire.” Therefore, don’t hesitate to walk away from the deal if you don’t feel like the person would be a good fit for your business.

The truth is if you have the right business attitude and posture, the person you offer the opportunity should understand and know that you will be successful whether or not he joins your business opportunity.

Become Emotionally Detached From the Outcome of Your Presentation To Your Prospect.

Whatever the outcome of your prospecting is, don’t ever get emotionally attached. Rather, concentrate your effort on understanding and educating your prospects.

Don’t be pushy, don’t hype, endeavouring to get a new customer by all means. John Engle says that “our job is to act like consultants offering suggestions on how people can live a better life.”

If you focus on understanding and education, you will have fun and your prospects will enjoy the experience.

Look For Sharp And Entrepreneurial Minded People.

This is another easy and amazing way to effectively prospect in network marketing business. Yes, look for sharp and entrepreneurial minded people.

Granted you don’t want to prejudge anyone, but the truth is that this business is not a fit for all. Therefore, people who have employee mentality and comfortable in their comfort zone need not apply.

Also, look for people who are happy, confident and success minded. Those who are friendly, who dress well, if you are prospecting offline, are better suited for network marketing business.

You can also prospect Estate agents, business people, sales people, particularly those interested in multiple streams of income. These are great prospects.

Finally:

Focus On People In Your Target Niche.

This is also very simple but most network marketers tend to overlook it. You must focus on people in your target market.

This is very crucial for effective prospecting in network marketing. In fact, whatever niche you are, look for such people. The objective is to spend time where people in your target market are most likely to hang out. Is it Facebook, twitter, Google+, etc., go search for them.

So there you have it all laid out. Prospecting in network marketing can be strenuous, time consuming, but like prospecting for diamonds can be difficult and strenuous but can become easier with the deployment of appropriate tools, so also prospecting for network marketing diamonds can become amazingly easy with the deployment of appropriate tools or skill sets.

We discussed how to identify network marketing diamonds, how to initiate a discussion by knowing what to say and how to say it, having the right business posturing, offering the opportunity and giving prospects the opportunity to sell themselves.

If you apply these strategies your business will definitely experience real transformation.

I do hope you got value from this post. If you do, please share it with your friends and in your social media networks.

If you have any question inbox me on my Facebook Fan page or call my cell number:+234-7012328236/8030946171.

What Is Passive Income?

What is passive income, can you enlighten me on this passive income thing?

That was the exact question posed by a reader of my entrepreneurial journey Facebook post.

Because my readers are the reason for the existence of my blog posts, their wish should be the determining factor for what I write,I am dedicating this blog post to answer my readers question in deference to their wish.

So, what then, is passive income?

There are various definitions of passive income. Let us take a look at a few of them.

In recent times, passive income has been a relatively loosely used term. It is defined as money earned regularly with little or no effort on the part of the person who is receiving it.

It is also defined as earnings an individual derives from rental property, any enterprise in which he or she is not materially involved, dividends and interest are also considered passive income.

It is also a term used by proponents of work from home and be your own boss professional lifestyle.

This last definition is the focus of this blog post. It is for those who are interested in working from home with the objective of becoming their own boss.

But most importantly, it is also for smart and discerning workers who have the intention of putting their extra time and possibly weekends to good usage. The earnings thus derived could be reinvested. This requires proper management of time and planning.

So what in essence is passive income? But before we can adequately answer that question, let us determine what it is not.

Passive income is not related to a get rich quick scheme. This is what one successful passive income earner Steve Pavlina calls a moocher income.

According to Steve, a moocher income is when people resort to earn money when they fall prey to a get rich mindset.

What does this mindset mean? It means an undisciplined attitude that seeks to get something for nothing. The objective is to find a way to mooch money from people without providing any meaningful value.

It is certainly not a pyramid scheme. By this I mean where people are merely recruited into a scheme and paid some form of money without the sale of any product or services.

Nor is it a fantastic and bogus investment scheme that promises unimaginable yields.

Passive income, therefore, requires the investment of massive ton of work upfront. Thereafter, you can sit back and begin to enjoy the dividend of your efforts. It can also be automated.

Let us assume that you are a very good writer. You have decided to write a book on how to attract the most suitable spouse based on your 50 years of experience as a successful husband.

No doubt, this requires investment of time and effort. Possibly three months of sleepless nights. With the writing and publishing of the book completed, you can hope to expect good sales and money from royalty would be hitting your bank account on a regular basis.

You may also be interested in building a rental property. This would also require making a lot of sacrifices in terms of saving part of your income over a period of years. It is only after the building is completed and ready for tenants can you begin to dream of enjoying the fruit of your labour.

Can you begin to see the picture very clearly?

This is what passive income means.

However, the reality for most workers is that the ability to save has been reduced, thanks to the economy.

In my next blog post, I shall advance compelling reasons why every discerning and smart worker should begin a home-based business.

I do hope this blog post answered your question and that you got value from it. If you do, please share it to your friends and all your social media networks.

The entrepreneurial journey continues. Please keep a date with me. If you have any question, hit my Facebook fan page, send me a personal message, or call my cell phone: 07012328236.