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Posts Tagged Network Marketing Opportunity

Do You Really Know Your Network Marketing Prospect?

Aug 18

Posted by Wayne Woodworth in Network Marketing | No Comments

Most people in network marketing don’t really know who their prospect is. That really isn’t a surprise because we’re all taught the 3 Foot Rule by the network marketing companies and our upline leaders. If you think everybody is your prospect then you’re in for a lot of disappointment because most people are not interested in building a home-based business.

Tailor Your Network Marketing Message

To really be successful in your network marketing prospecting, you need to tailor your message to the right people, and you need to know who those right people are to be able to do that. So, who is your ideal prospect? Is it stay-at-home-moms or dads? A good place to start is with other people who are like you. For example, if you have medical training then your idea prospects could be other people with medical training. You already know who to communicate with other people who are like you. You speak the same language and probably have a lot of other things in common.

For me, stay-at-home-moms and dads could be a good choice because I am a stay-at-home-dad thanks to my network marketing business. I am also a massage therapist so other massage therapists and maybe chiropractors and other body workers and energy healers would be good choices too. The thing about these different groups of people is that I need to use different words and ideas when I communicate to them.

To tell other massage therapists and body workers about my network marketing opportunity I would talk about the product and how having a product like this would help them in their current business. It just so happens the the MLM company I am with does have a few items in their product lines that make great massage tools.

When I am talking to stay-at-home-moms and dads then I would put my focus more on how this network marketing business lets them have more time with their kids. I could also focus on how the product can help their kids stay healthy if that is the type if product that the company sells.

As you can see, I use a completely different message for the 2 groups of people. You need to know who your audience is so that you can customize your message to them as well. Don’t try to get everybody in the world onto your team. Just get the people that you know how to talk to.

So, who are your ideal prospects? Who are the people that you know how to communicate the benefits of your network marketing opportunity to? Share you ideas in a comment below then share this message with your followers on the social networks using the buttons below.

Wayne Woodworth

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Dealing with Network Marketing Risk

Aug 3

Posted by Wayne Woodworth in Network Marketing | No Comments

There are risks to network marketing and ways to deal with them.

In case you haven’t already heard, a network marketing business is a business just like any other business, and there are risks. Let’s face it, if you are going to make money then there are risks of losing money too. Just look at the stock market or real estate. You can see examples of where people made it big and where people lost everything.

Network marketing doesn’t usually go to those extremes for most people. It is just something you need to be aware of.

The Risks of Network Marketing

In most cases you aren’t going to lose your shirt starting network marketing business because it really doesn’t take a huge investment. The company I am with costs less than $50 to join even after you add in taxes and shipping on the business kit. There are risks though.

The biggest risk is that the company could fail. You will have spent all of your time to build your business and have a decent income just to see it disappear over night. Variations of that might be that the company gets shut down for violations, the decide to drop network marketing and sell their products through another method, or they get bought out.

Another risk with similar results is that they decide for some reason to kick you out. I have heard that is a possibility. There could be rules violations and I’ve heard rumors of some companies getting greedy. It is usually in the contract that either side can dissolve the agreement without warning.

The final major risk is that you fail to make a go of it and decide to quit. Hopefully in this case you haven’t lost much money. Keep in mind that if this happens, it isn’t the company’s fault. If one person can be a success with an opportunity then anyone can if they do the same things.

Mitigating Network Marketing Risk

One way to reduce these risks in network marketing is to choose a company that has been around for awhile. An established company has a track record, a history of how they operate. If a company has been around for 3 decades then you know that they have a product that sells and a compensation plan that has kept distributors over the years.

It is also possible to do more research on an established company. You can find out things about how much debt they carry, how many complaints have been registered against them, what is their retention rate with established distributors? You can’t find this kind of information about upstart companies because they haven’t been around long enough to establish a history.

There is also the statistic that most new businesses fail in the first 3 to 5 years. If a network marketing company is 30+ years old, then you know that they have withstood the test of time.

Brand Yourself

The second way to mitigate risk when joining a network marketing company is to build your own name, not your network marketing company’s. With the Internet it is very possible to establish yourself as an expert in something relevant to the business that you are building, even if you aren’t exactly an expert in network marketing yet. Are you good at getting appointments with people, establishing relationships, do you know how to create a blog or website that gets traffic. You have some skill that you are really good at.

The benefits of creating a brand around yourself is that people will join you and be loyal to you. If something happens to the network marketing company that you are working with, then you still have a name that attracts people. You just have to find a new company to plug in on the back end. You don’t have to start over.

To summarize, like with building any business, there are risks to building a network marketing business. You can control a lot of those risks by researching and joining an established company. To further reduce your risks, you can build a brand around your name so that if something happens to the company, you still have value in your name and not have to start from scratch.

I hope you found this to be valuable information. Please share any insights you have in a comment below. I would love to hear what you have to say. Go ahead and use the button above and below to share this post with your followers on the social networks.

Wayne Woodworth

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Network Marketing Intent

Jul 27

Posted by Wayne Woodworth in Network Marketing | 2 Comments

What is your intent in building your network marketing business?

Is it to make a lot of money? To be able to spend more time at home with your family? We’ve all heard the reasons that people build their own home-based business.

I like to think about intent. I’m also a massage therapist and very interested in energy healing. When you do that kind of work it is all about your intent. It guides your every movement when you are working with a client in that environment.

Intent is just as important when you are sharing your network marketing business opportunity with a prospect. What is your intent? Is it to get them to sign up so that you can make more money? Or is it because you know your prospect is in a difficult spot and you want to offer a way out?

I offer my opportunity because I want people to know that they have options. Yes, I do need to make money to support my family but I have other options if that was my only goal. I believe that it is wrong for people to be stuck in a job they hate or have to desperately search for a new job if they lose their job.

The main reason that I started my business was because I wanted to be home with my family. I have two small kids I want to be around as they grow up. My daughter started kindergarten last year and I was able to drive her to and from school every day. That meant a lot to both of us. That probably isn’t the reason my prospect would want to start a business. So, when we share our network marketing opportunity with other people we need to know where they are and where they want to be and only offer the opportunity if it serves as a possible solution. Otherwise we are just wasting time, both their time and our own.

Wayne

PS. If you found this informative or you have thoughts on the subject then I would love for you to share them in a comment below. Also, please share this with your followers on the social networks using the small buttons below.  Thanks.

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Response to Network Marketing Scams

Jan 11

Posted by Wayne Woodworth in Network Marketing | No Comments

You’ve seen the business opportunity offers that say “no recruiting necessary” or “we do all the work for you”. Doesn’t that sound like a “too good to be true” kind of deal? It does to me. Any time someone tells me that I can make money without doing anything I start thinking “scam”.

I was thinking about this today and I believe I know what they might be doing, at least some of them. My guess is that they are in an MLM business that has a binary compensation plan. In a binary plan you only have two legs and you get paid based on the weaker of them. If you recruit more than two people then you place them in your downline somewhere under someone else. This discourages people from stacking everyone in one leg and ignoring the other.

What these “no recruiting necessary” businesses probably do is, as they recruit people, they will build a strong leg for you, balancing out both of their legs, so that they get paid. Another problem for you is that these contacts aren’t yours and they have no loyalty to you if something happens with the business down the road. Since you aren’t doing anything to build your weak leg, or a stronger leg, you aren’t likely to make very much money, if any at all. You could start recruiting people and build out your legs, so I don’t think it is a complete scam, but the offer is definitely misleading. The ones who do the work will always be the ones who make the money.

I will make you a similar offer, with a slight difference, if you will take a look at the company I am with. Join my team, tell other people about it, then get them in touch with me. If they join, they go in your team. There are several differences with my offer. First, the company I am with, Nikken, does not have a binary compensation plan. You have a team and you make money based on your performance and theirs. You do the first step in recruiting new people by getting them interested enough to talk to me, so they are your contacts and loyal to you, not me. You also learn how to do the business because you are an active participant, not someone sitting on the sidelines. It’s a bit of on-the-job training so that eventually you won’t have to depend on me as much and can make the same offer yourself to continue building your team.

Here are some links to help you with your due diligence.
The products: http://www.getmywellness.com – see what Nikken sells.
My view of the business: http://www.getwealthyinwellness.com.
Nikken’s view of the business: http://www.getwealthyinwellness.com/opportunity/

Check it out. You can contact me on this site or through any of the links above.

Wayne Woodworth
Ethical Network Marketing Opportunity

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