People are attracted to network marketing for the promise
of a new life. A new level of income…A chance to make a
change, yet few people ever make that change. The failure
rate in network marketing is over 90%. Why is this so when
so many people come to the industry with good intentions?
The answer is simple, really. The people who make a
hundred thousand dollars or more in network marketing
follow and teach three simple principles that hold true no
matter the company, no matter the compensation plan, no
matter the product.
The three key principles are
1) Autoship
2) Know the compensation plan
3) Practice and teach a duplicable system
What is autoship? Autoship is simply your agreement to
receive a certain product or service that is of value to
you in exhange for a monthly fee. If you have bills you
are participating in someone's autoship program. Every
utility and most banks practice autoship. You will accrue
some advantage through autoship whether that advantage is a
lower price for a product or the waiver of monthly
activation fees. In the case of your cell phone service,
for instance, you are avoiding a new activation fee each
month by subscribing to a cell phone plan and paying for
the service monthly. Your cell phone carrier can predict
their monthly revenues based on the number of subscribers
they have, indeed, their monthly subscribers constitute a
large portion of the value of your cell phone carrier's
business. You have the advantage of knowing that your cell
phone service is available on an ongoing basis as you need
it. Another example is a bi-saver mortgage payment plan.
If you are participating in a bi-saver mortgage program you
are agreeing to regular bi monthly payments in exchange for
long term interest savings on your loan. Since you already
have your mortgage, what is the product being autoshipped?
Your dollars into your bank's business accounts.
Many people object to the autoship feature of network
marketing companies they look at as a major disadvantage to
joining a company. They see the autoship feature as a
negotiable expense. I recently spoke with a couple from
another company who had 700 distributors in their downline.
They were frustrated because they had no income. Their
company did not promote autoship. Neither did they and
their income was zero. If Fortune 500 Companies use
autoship, why not incorporate that feature into your
business?
Distributors who make 100,000 or more in their respective
companies promote and use autoship.
Know the compensation plan. What is so special about your
compensation plan? The compensation plan was designed for
you to make money. Every compensation plan has a series of
steps or building blocks that allow you to progress and
make more money. Each company usually has starter kits
that fit into the compensation plan in such a way that you
can maximize the way in which you build your business. As
an example, your company rewards you for building 10, 000
in volume points over a month. You have three packages to
help new distributors get started with. One package is
worth 100 points, another is worth 500 points and the other
is worth 1250 points. Which package allows you to build
the fastest? Which the slowest? Which allows you to
build with momentum, which does not?
You must always have value in mind for your new distributor
no matter which package you promote. If you put people
into the highest priced package because it benefits you,
your business will not last long.
Distributors who make 100, 000 or more in their respective
companies promote the highest value package their company
offers, understand the value that package offers to new
distributors and teach their teams to do the same.
Practice and teach a duplicable system. Your team must be
using a duplicable system. Your potential sponsor may tell
you that actions XY and Z are what the team does, but are
those truly the actions your potential sponsor does? Is
your potential sponsor using landing pages and generating
his or her own super qualified leads via the internet while
telling you and the rest of their team to buy leads? Does
your potential sponsor have systems in place that sift and
sort leads so that he spends his time with only the most
qualified prospects while the rest of the team makes
"courtesy calls" to lists of unqualified leads? Does your
sponsor tell you to make a list of 50 to 100 names while he
actively seeks out new business partners with networks in
the thousands? Does your potential sponsor tell you to
leave business cards in bathrooms and book stores while he
actively runs advertising campaigns in the local paper or
on line?
Distributors who make 100,000 or more in their respective
companies have systems that a new person can tap into out
of the gate. If they are building with a web-based
solution, they have websites, infrastructure and training
that a new associate can tap into for a small fee.
Distributors who make 100, 000 or more understand the value
of duplication and readily share with their teams their
success strategies so that their team members can duplicate
their success.
There you have it, the key principles to creating a 6
figure network marketing business. To recap they are
1) autoship
2) know the compensation plan
3) practice and teach duplicable systems
Practice and teach these principles and you will be well on
your way to creating a 6 figure network marketing business.
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Starting with zero internet know-how, Ouida Vincent has
been generating leads for her primary network marketing
business and teaching duplicable strategies to her team
from the comfort of her home for over 5 years. Yes, she
works with her warm market, but her business does not
depend on her warm market. To learn more about duplicable
strategies to grow your team, go to
http://www.passiveincomesecretsonline.com
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