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If you are new to network marketing or mlm, you may have been asked to create a list of everyone you know, so you can share the products and business opportunity with them. Most people actually don’t write down every name of the people they know. They will write down 5-10 names of the “easy” ones typically. These are the people that they believe need it the most or won’t laugh at them because they are building a business like this.
Unfortunately, this generally does not lead to anyone joining who will actually build the business. Yes, sometimes you brother in law will join and build, but generally the people on your friends and family list that join do so, to support you or they don’t want to tell you no. Once you have been told by people that you thought would see what you do, now what?
Warm and Cold Market Leads
Now you will be told to start talking to your warm market. These are people who are your acquaintances. People on your Facebook friends list. You don’t really talk to them in person so how do you approach them about a business opportunity? As always, I say talk to your upline for advice first. They are the ones who are there to help you directly and want you to be successful.
Using social media can be an effective way to promote your products and opportunity, you just have to do it in a non spammy way. That upsets people and they will unfollow you. Depending on your product you may also get blocked by FB & Instagram. For instance, CBD and whole plant hemp products. They are legal but FB won’t let you use paid advertising to promote them. You can still post on your FB fan page though for free.
You need to find a balance between your curated information, you own information and funny or inspiration posts to capture your audience and then be consistent with your posts so your fans look forward to your posts. You are looking to build trust so that when they are ready to take a look at your products or business opportunity, they will check out yours.
How do you generate cold market leads?
For most of us this is the make or break point in the business. If you have not built the team you will need to grow your team from the above group then you have two choices. Work with people you don’t know or quit. To many people unfortunately choose to quit. This is one of the reasons why so many people quit mlm.
In reality it is the fear of talking to strangers that kills it for them. I understand it I felt the same way when I got started. I am an introvert so it is difficult for me to get comfortable talking with people I don’t know. Years ago, there were no choices about how to do it. You had to walk up to a person and talk or call them on the phone. You remember that thing called a “land line”. For most of us it was more of a land mine. We were so afraid to use it because we thought it will blow up or something.
Now with today’s technology we can use many different ways to reach people who may be interested in what you are doing. Today I am only sharing my business opportunity with people who are already looking and who want to see what I am doing. That alone removes any fear you may have. I teach my team several different methods on how to generate leads for their business from the largest group of people on earth. The ones you don’t know…yet. Today I can share my opportunity with hundreds of people each day. Sure, not everyone will decide to join my team, but that is the same with anything. It is all a numbers game and you need to share what you have to as many people as possible every day.
My system is one step better because it allows them to pre-enroll on my team while they learn more about the products, compensation plan, etc. while I build a team under them to show them that it works. In effect they get to be on the team without actually joining right away. It is like a test drive in a way. I use an email response system that sends the lead a series of emails regularly to help educate and motivate them to learn more and join. Since I have built a team under them that is generating volume, they have something to lose if they don’t join. Hopefully the company you work with has the same thing. If not, you may want to build your own system or join my team and use my system.
I use as many methods as possible to generate leads and I shoot for 20-30 leads per day minimum on average. This will translate into several people joining the team and many of those will end up being business leaders and they will build good size, lucrative businesses that can generate an ongoing residual income.
You have to face the reality that it will take hundreds or thousands of people to join your business team. It takes some time to do that and remember it won’t just be you doing that work. In the beginning it will just be you and me. As you and I build the team, there will be more people like you who duplicate the methods and pretty soon you will have dozens of leaders sharing the products and opportunity to additional 1000’s. The growth starts to accelerate and reaches critical mass.
Give yourself time to be successful
In today’s Amazon.com world we want everything to be instant. We don’t like to wait for anything, even success. Unfortunately, you can’t rush that. You can go faster or slower but you cannot rush it or skip steps. It’s like losing weight. It takes just as long to lose it as it does to gain it. For me it seems it takes much longer to lose than to gain. Success is like that too. You have to build todays for results tomorrow. It will not be instant and everyone starts at a different place, with their skills, knowledge, finances and work ethic.
Earn while you learn
One of the best things about having your own MLM business is that you can learn as you go. You don’t have to know everything before you get started. In fact, you only need to know the basics to get started which take less than one day to learn. I work with all levels of people. Many have never heard of or seen a mlm type business. Some are like me, and have been involved in network marketing in the past.
The bottom line is you can learn to generate leads for your business from the cold market more easily and with more time efficiency than ever before. Since they come to you it is easy to share what you are doing and help them to join your team. I am happy to help you do it, just let me know.CBD is the Hottest MLM Right Now! Click for a Free Tour!
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In this article I am going to share with you what content is and why you should use it to generate a larger team. Have you ever been told that the key to building a network marketing business is duplication? I am sure you have and yet you may have wondered how do you get that to happen. Is it something that you can direct? Are you duplicating anyone? Should any of your team duplicate you? Do you really want them to?
All really good questions that should get you thinking more about duplication. Typically, in network marketing it means that you are not the only person who is working your business. Since other are a part of your team, they are working their businesses and you can earn a percentage from the volume they generate. We used to explain it with the quote from J. Paul Getty. He said “I would rather earn 1% of 100 men’s efforts than 100% of my own effort.” Clearly this is one of the ways he got rich. It is also how franchises work. The corporate office gets a percentage of what your individual franchise location generates. Combined it is more than any single location. This is best illustrated by McDonald’s Corp.
What is Content?
It is the creation of information for the purpose of attracting, educating, motivating and in our case leading people to learn more about your products and/or business opportunity. I use many forms of content. Examples of content is this website of articles as well as YouTube videos. The creation of videos, articles, e books and other media can be one of the best forms of duplication for you. You don’t have to be the one to create it and, in many cases, you should have a combination of content that is curated by you from others content, and some that is created by you.
Think of it this way. If you have to grow your business only using the person to person contacting methods it will be a very time-consuming process and you may be limited by your time availability, location, and comfort level etc. That being said I do believe you may be able to improve your sponsorship rate because you can talk with the person and answer objections. That is what typical network marketers are trained to do.
Most people are not able to get comfortable doing the steps above on a consistent basis and thus never reach the levels of success they wanted. From my personal view point I don’t like being on the hunt for prospects everywhere I go. It seems hard to have the correct posture if you are always having to approach people and ask about their interest levels in looking at a business idea to earn extra income. Most people today are not comfortable being prospected by a stranger. Unfortunately, our society has so many scam artists that everyone is on guard, so I find this very ineffective and obsolete.
How content can duplicate your efforts?
Instead I focus on creating content that allows people who are on the internet already searching for the type of products I offer and the type of business opportunity I have. The duplication factor of this content creation comes in when you realize that a video, article or e-book can continue to be found by people for years after you create it. It is like an electronic person working 24 hours, 7 days a week, 365 days per year for you. That is how you can create an ongoing lead generating effort for your business.
IN this business of residual incomes this is a residual lead generator. It’s ideal because you have no fear to overcome. It does the talking for you and keeps on going.
There are new people every day who start the search for a product to solve their problem or an income opportunity to help them financially. I create and use content to build my own network marketing team and teach others how to duplicate this pattern, over and over.
For years this content will continue to work on your behalf leading people to what you have. Now that’s the kind of duplication I want and so do you.
If you are looking for an opportunity where you can use this technique to grow your network marketing team check out the FREE tour of my company HERE! There is no obligation to enroll or buy anything. I let you try my system for yourself. Fill out the brief formCBD is the Hottest MLM Right Now! Click for a Free Tour!
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I have been involved in network marketing for a number of years now. I built a large team in the Amway business back in the early 1990’s. I was in the group under Dexter Yager, Don Wilson and Randy Haugen, clearly three of the most successful network marketers ever. Eventually this team broke apart and I left the business and applied what I had learned to conventional businesses.
A few years ago I started looking for another network marketing opportunity but I knew there had to be a better way to build them. The old school ways of making cold contacts and meeting people in restaurants and coffee shops just doesn’t work as well today. People are way too busy. They are very leery of meeting with a stranger and who really has the time for no shows anymore.
What’s worse is then you are taught that you need to teach others on your team how to cold contact people and let’s be honest that’s usually where most people quit sharing the products and the business opportunity. If the business is built on duplication but no one wants to duplicate the old methods what do you do? I knew I did not want to do that again. Sure those person to person methods work but there are far fewer people willing to actually do that. In the old days we called those people leaders.
Here is what we used to do.
- Cold contact people in person or on the phone
- Ask if they are interested in other ways of making money
- Show them the “plan”
- Follow up with them
- Answer questions and sign them up
- If they don’t sign up right away continue to chase them until they disappear or get involved to shut you up and then do nothing in the business.
Kind of kidding about that last step but not really. Sure it can work but then if they do get in they say to themselves eventually; “do I have to do what my sponsor did to get me in”? You say “of course, and I will teach you” and there gone.
Most people have a fear of speaking in front of groups of people they don’t know. They fear it more than death according to some surveys. And to build this business after the friends and family have joined or laughed; or some of both they quit.
I could not see doing that again. Trying to convince people they can do it is exhausting and not fun for any of us. There had to be a better way! After searching and reviewing how the fastest growing network marketing companies were doing things. They all had a few things in common.
- Personalized Websites and landing pages(example above) for each distributor- These are used to introduce people to the products and the business.
- Lead generating techniques- You have your cold contact leads coming to you not the other way around. They get your information and can tour the products, business and compensation plan
- Automated email responder systems- The company emails all leads for you with pre-written emails message providing information and encouragement. This does the follow up for you.
- Automated sales funnels with a “fear of loss” approach
- Have a pre enrollment function-This allows people to be placed on your team in a temporary spot with people being placed under them right away. This shows them that the business is being built and gives them something to lose if they don’t upgrade and lock in their spot.
- Cellphone apps that can be used to build your business-access to videos for promotion and training, back office details and even business enrollment functions
- Ability to build and online, offline or both
- Are a binary structure- Amway and others were using a 6-4-2 model that was not easily sustainable for most people who build this type of business part time. How could you build 6 legs?
Some of the benefits are clear. Can you imagine having a business where your leads find you and want to learn what you are doing and how they can join?
This is the perfect way for introverts (like me), and time strapped busy people to still build an additional income in their spare time. I literally spend 1 hour per day and have been able to build a sizeable business. So can you!
After searching around I found companies that had all or some of these things and many still had none! Many companies are still having their people use the old methods and are run by people who are corporate business men not network marketers who really understand how to build a large organization of business owners and entrepreneurs.
That’s exactly what I have been doing. I equate this building approach to online dating in this article HERE. I teach people how to get their business opportunity found by 1000’s of interested people looking for a way to start their own business. I can teach you too!
If you are looking for my #1 recommendation on Network Marketing Companies that have all of these benefits in place. Take the FREE TOUR HERE NOW!
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If you have previously been involved in a network marketing company during the 1990’s or even later you may have been introduced to the business and its products by way of a face to face meeting. It was probably a 1 on 1, or a home meeting or possibly an open opportunity meeting at a hotel. That is how I came to be aware of the Amway business opportunity back in 1989.
I call that the “old school” method for building the business and in my opinion, it can really limit your business growth and velocity. 1 on 1’s are still the best way to explain the business to your friends and family to be sure. But is it the best way to share with your warm market or cold markets?
In my opinion it is not, and I will tell you why. Today we use all kinds of online and virtual methods of staying in contact and communicating with people we have not met in person. Think social media, right? Today we are using the internet to do just about everything and why not? Today we can even meet our future significant other online before meeting in person. It’s called online dating.
WHAT IS THE ONLINE DATING METHOD?
When I joined the Amway business in 1989 there was no internet really and certainly no one was doing online dating. Yikes it all seemed ridiculous when it finally got rolling. Who would actually use an online dating service? That is not for me. I still recall when my first friend used it and found a great person who eventually he did marry. They are still happily together today. Why did he use this method? Well he was too busy with work. He did not want to go to bars and clubs. He wanted to find someone who was already “screened” for compatibility to some degree. In actuality it all made sense, and it really does work. Why not apply that method to network marketing?
In Network Marketing or MLM as it is referred to sometimes what are we really doing? We are looking for compatible business partners. Just like with dating the two people can checked each other out before deciding to work together.
I use online tools to allow people who are looking for a business opportunity to find me, just like in online dating. It’s all very simple and very cool. They can take a free tour of my business. Check out the compensation plan, products and back office to determine if it is compatible with their goals and desired focus.
I can also establish their level of interest, commitment, experience and skills to determine if we can work together and if I have the time to invest in helping them get started and reach their goals. This is just like determining compatibility in the online dating process. Why shouldn’t you be able to reach out to others and have them be able to reach out to you, when we are looking for each other?
The fact is this process flat out works! I am looking for people interested in a business opportunity. There are many people looking for an opportunity. I just use online methods to connect the two groups and I teach others how to do the same thing.
One of the best things about network marketing is that it can produce time duplication. Meaning it removes the attachment of time and money from the equation. You no longer have to be income limited by the number of hours you can work. That’s what happens on the job, right? No one can personally work 24 hours a day, and that’s all we get each day.
It always seemed strange to me that we should limit ourselves to the constraints of time to limit how many people we can reach with our business opportunities each day. After all we want to duplicate our time not limit it. I can reach hundreds of people each day and generate 20-40 leads each day. There are few if any people who can do that using the “old school” methods of building network marketing.
Very few companies have supported the new methods and fewer yet even are aware of it. Today I can decide to reach out and generate leads in any state in the USA I want to focus on; or all of them if I want. This can also be done by reaching out into other countries of choice.
There are literally millions of people that I can connect together when they are each looking for each other.
Some people who really understand this process I use and teach think that I can reach every person on earth and it will be “saturated” within a short period of time. Meaning everyone who wants to be involved; will be involved. I only wish that was possible. In reality it is not possible. Every day 1000’s of people who turn 18 years of age and are now eligible to start and own their own business. So, there is always a growing group of people who have never heard of what we do. Additionally, it is frequently about the right timing. Not everyone is open to a business opportunity at the same time. That openness changes over time depending on individual circumstances.
I hope this all gets you thinking out of the “old school” box just a little bit. Today network marketing businesses need to change and if the company doesn’t then you may need to consider adapting your methods fit today’s needs and learn to be the most effective you can be.
So if you think we might be a “match” then let’s discuss how we may be able to work together. Contact me. I can’t promise you anything but what have you got to lose?Discover a Simple Business that Pays a Full Time Income from Home
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It’s an interesting question to me actually. It may seem that today with all the large corporations merging and taking over the markets they’re in, is there still room for the average person to have their own business? From my vantage point the answer is YES! And it’s even easier today, than it has ever been.
INTERNET BASED BUSINESS
I am old enough to remember the days before the internet. I know that was a long time ago right? When it began there were no business opportunities for the average American. It was all about the browsers, chat rooms and email back then. Netscape, AOL and others were trying to dominate it first. The start of being able to buy something online was in its infancy because no one knew how to take payments yet. Amazon was a baby still!
Today we can have our own online business that allows you to sell just about anything to anyone in the world. The “E-Commerce” term is not heard much any more because we are all used to shopping online and having the items show up the next day. Thanks to Amazon, we all have the expectations of see it now, get it now. So how can you take advantage of this?
You can have your own EBAY store or be an Amazon reseller. You can have an Etsy shop or just about any online business website you can dream of!
You can earn money by promoting others people products and websites through affiliate marketing too. The earning potential is pretty much limitless.
BRICK AND MORTAR BUSINESS
Is it still viable to have a successful brick and mortar store? I think the answer is a definite yes. There will still be the desire to have an experience and you can only get that when you visit a store and walk the aisles. Check out what Target and Walmart are doing lately. The motif has been changed to be more inviting. They have added back some old staples like music and lighting to make you want to stay longer. In some stores like Sprouts and others they have a lounge you can sit and enjoy eating your purchases all along with the obligatory free WI-FI. And even the world’s largest online retailer Amazon bought Whole Foods to have a physical store presence.
Some businesses will never be online 100%. You may want to consider starting a restaurant or other entertainment type business. The only concerns with conventional businesses is they are generally capital intensive and risky. If you have an online business you just don’t have the overhead, so you can start for a low investment and you don’t need to mortgage the house! Low investment equals lower risk!
HOME BASED BUSINESS
This one is a bit of a hybrid because most home based businesses are really run out of your home, but still may have a significant online presence. There are some that are home based, in that you are producing a product that is sold online and/or at regional shows or events. The lines are getting blurred. What about promoting your business online or using social media? Does that make it an online business? What if you accept order online and fulfil out of your home? Well you get the point.
MULTIPLE INCOME STREAMS
One interesting trend is being able to have more than one stream of income. There is a trend where many companies are not hiring workers permanently any more. They are using contractors. This allows them to have the human resources on a per project or task basis. It may be more cost effective and they can be released easier and faster when the project is done. I know people who are more “freelance” in their work and are getting work from more than one source. Sounds a lot like having your own business. Tax benefits and all.
For many people there is the desire to start and own their own business in addition to working a job. This is for many reasons, including having extra income to live but also to have the extra things in life or set up a retirement income stream too.
Today it is even easier to have the American Dream of having your own business! You don’t have to quit your job to do it. You don’t need a second mortgage and you don’t need to risk everything. You can start small and build large. Earn while you learn. If you have ever watched the popular TV show Shark Tank then you know all it takes is one idea to hit it big.
If it has always been your dream then don’t wait! It is easy to start today. It won’t fall into your lap so just get started moving forward.Discover a Simple Business that Pays a Full Time Income from Home
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If you are an Engineer or other technical professional you are probably earning good money but also understand that time is the most valuable resource, and that is in short supply. If you have money but no time to enjoy it what is the purpose???
TIME AND MONEY!
Ideally we need both right? Time and Money! Yes that’s it, isn’t it? As with most high paid professions it can take a lot of time investment into a career to be successful. So how can you get both time and money? You need to consider leveraging your time to get more of it. As long as we trade time for money you will eventually run out of time in the day. There’s only 24 hours day for each of us. But how can we leverage it better?
The only way to get more time in your life is to be able to buy it back. You need to stop only trading time for money. The MLM or Network Marketing Business model works off a principle of time duplication. It is based on the J. Paul Getty phrase where he said ” I would rather get paid 1% of a hundred mens efforts instead of 100% of my own efforts”
That’s what the concept of network marketing and franchising is based on. In reality each and every one of us can use this method to build an income that is ongoing by building a team of like minded people who understand the power of the numbers in this model.
Consider this: If you asked most people if they would prefer to have a penny every day doubled or a million dollars they usually say the million bucks. But lets see how this would really lay out.
Day 1: $.01
Day 2: $.02
Day 3: $.04
Day 4: $.08
Day 5: $.16
Day 6: $.32
Day 7: $.64
Day 8: $1.28
Day 9: $2.56
Day 10: $5.12
Day 11: $10.24
Day 12: $20.48
Day 13: $40.96
Day 14: $81.92
Day 15: $163.84
Day 16: $327.68
Day 17: $655.36
Day 18: $1,310.72
Day 19: $2,621.44
Day 20: $5,242.88
Day 21: $10,485.76
Day 22: $20,971.52
Day 23: $41,943.04
Day 24: $83,886.08
Day 25: $167,772.16
Day 26: $335,544.32
Day 27: $671,088.64
Day 28: $1,342,177.28
Day 29: $2,684,354.56
Day 30: $5,368,709.12
Network Marketing is like that too. You don’t need to know a ton of people because if everyone just knows a few the numbers on your team will expand greatly. Remember it starts out slow but build over time.
WHAT SHOULD ENGINEERS LOOK FOR IN A MLM COMPANY?
If you are an engineer and understand everything we have just covered then what should you look for in a network marketing company? Here is my list of must haves:
- Online Lead Generation System
- Email Auto Responder to follow up
- Online Sales Funnel Tool
- Teaching and Training System
- I growing product category that is consumable
- Ability to work with like minded people
- Excellent compensation plan with no income limits
- Ability to work in your spare time
- Little to no investment
- No home, hotel or restaurant meetings
- No need to attend rah rah functions
- Stable company financial position
- Most important Introverts can build it successfully
If you are like me and are better with computers and machines than people you can still build a second income that could allow you to work less hours and spend more time with your computer or robots. You can also invest that money into your retirement or even retire early if you wanted too. Who knows, you may even be able to buy a ticket on the first passenger space flights soon! It’s up to you and yes you can do it your way!
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To learn about my # 1 recommended MLM company for engineers and introverts CLICK HERE NOW!!!
To me this is an interesting question. It’s really all relative to what each person has already accomplished in their life and what they have experienced. In the beginning it was very difficult for me to build a network marketing business.
It was 1989 and a friend from high school asked me if I ever looked at other ways of making money? I had already had a few conventional businesses that failed. I still had the dream of being a successful business owner, so I listened to the Amway business plan. It looked something like the image above. It seemed to me that it was a great way to start a business with very little investment other than time. Since I had finally paid off all of my business loans and credit accounts from my old businesses I was not to open to investing a lot of money.
The network marketing business needed time and duplication. What I did not figure on was that not everyone was looking for a business opportunity. Many people are just fine with working a job until they can collect social security. Now what? I was assuming that most people were like me. Wrong!
NOT EVERYONE IS LIKE YOU
That’s the first lesson in Network Marketing I learned. If I wanted to build this type of business I would need to learn how to find people who were open minded to a business opportunity. People who are willing to work for themselves. People who can invest time over the next 2-5 years to build an income that is reoccurring in their spare time. That actually is not hard to do, but you need to ask the questions. My issue was I was very uncomfortable talking with people; even the ones I knew. For other people like me this is where it gets hard. The biggest issue I think most people face is rejection. They don’t want to hear the word “no”. That was not my issue but I needed to overcome my fear of talking to people. It also required the mindset that I had something they would want and that not everyone would be able to qualify for it. I had to learn what is called posture.
Eventually I was able to learn how to do this and my business began to grow. One essential you will need to build yours is to have people know what you are doing. If no one knows then you won’t have anyone joining you. Sounds simple but you would be surprised how many people join then do not tell anyone they in involved. How will they ever be able to build a team?
Now its much easier to generate leads in my network. I now have people who are looking for me. They will look for you and what you are doing too. The key today is to help them find you. You don’t need to go finding them. Thousands of people each day are looking for a new business opportunities, just like I was. I started searching using the internet and started looking for the best network marketing opportunity available. If I was to wait to be asked, person to person it may have been a long wait. You see I am like a lot of people very busy and not really very accessible. If I was going to wait until I was cold contacted it might never happen. I had to go looking.
This is what makes one of the harder things to do in the “old” way of building networks a much easier task. Yes, there are still people who don’t rely on any online methods but they will never be able to extend the reach that you can. The old way of building required us to drive many miles, make a lot of cold contacts and even call out of the phone book to find prospects.
Of course today I talk to people I meet about my opportunity and use the online methods. But building online and offline work best.
HOW HARD IS IT TO BUILD?
The answer is compared to what? Compared to not having a business of your own it’s easy. Compared to building a conventional business with a lot of debt, pressure and risk? It’s not hard at all. Sometimes I wish it cost $20,000 to join network marketing businesses. This way you would only have the really serious builders. Can you imagine if you had a few really good builders working with you on your team? Together you could crush it and build a multi-million dollar business together. That being said it would also eliminate a lot of excellent people who don’t have that kind of money to invest. In fact you can start this business with almost no money at all. That gives everyone an opportunity to go from zero to millionaire if they are willing to work for it.
In Network Marketing you only need to find a few builders and you can develop a six figure income per year. It’s no different than if you had a franchise business; like Subway Sandwiches. You would want to own a few really good locations. If you just owned one you may be able to earn as much as you would on a job. You would probably need to work your one location and to free up your time you need to be able to buy it back, right? That requires being able to duplicate your time. As long as your trading your time for money you will have a limit on your income. No one can work more than 24 hours in a day.
DUPLICATION WHAT DOES IT MEAN ACTUALLY?
This is the key to earning big incomes in network marketing. You need to be able to teach a few leaders in your business how to build a successful business and then they will be duplicating what you learned to do and teach people on their teams. Once you have several builders or leaders doing this the business can grow very quickly. This is sometimes where people get crossed up. This is not pyramid building here. You are not getting people to join your team so you can get rich. It does not work that way. This is where you help other people become successful then the earnings your get from each one will add up to a lot of earnings for you.
It does not work the other way around and you are not looking for a bunch of people to go sell for you. You want business owners just like you!
Today it’s easier than ever to build a network marketing business. We have lots of online and offline tools. We have apps, websites and landing pages. We have funnels and email responders that can be used to help bring people up to speed on the opportunities we have available.
We have the ability to help the people who are looking for opportunities to find us and for us to build teams faster than ever before while staying in contact through phone calls, texts, blogs and videos. We can teach through video, webinars and conference calls as well as live video broadcasts over our cellphones and home computers. We can connect with more people in more ways than ever before. To me it is much easier than just about any other kind of business and with the incredibly low startup cost of virtually zero. The payback is almost immediate. We all have the same 24 hours in a day. It’s what you choose to do with it that will make the difference in your income. Give it a try!
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Now that more people are finally hearing about CBD and learning that not only does it have some health benefits but that there is a business opportunity that can be had. Some people are wondering if it is saturated already. This is a term i first heard after I joined Amway back in 1989.
When I first saw the Amway opportunity it was all new to me. The company, the products, the network marketing method. All of it! I had never heard anything about it and it had already been around for 50 years.
After I joined and started sharing the business opportunity, I had a few people who saw the duplication process we discussed and said that the business couldn’t work because it would get “saturated”. To them that meant that everyone that wanted to get involved, already had. Funny how most of those that gave that excuse never got in, so how could it get saturated?
To give you some perspective about the Hempworx Opportunity becoming saturated, consider this. in 1989 when I joined Amway they had been in business for 50 years. Done about $2 billion in business. The group I was involved in had over 600,000 people in it when I joined. Over the next 10 years we saw thousands of new people join the business. Obviously it wasn’t saturated yet was it? How could it be really? After all every day there are people who are turning 18 years of age who can now get involved in your business.
As of this writing Hempworx has about 60,000 distributors and did $100 million in sales. Even though it is one of the fastest growing network marketing businesses with a CBD product focus we still have a long way to grow to even get close to reaching our full potential.
What you really have to consider is are you going to get involved while Hempworx is in it’s initial stages of growth or when they are doing $2 billion in sales? As you can see from my own experience with Amway it doesn’t really matter when you get involved. You set your own pace and your own growth rate. You can have a large or small part of the multi billion dollar business as it grows.
For Hempworx they are just in their infancy still. As the company and it’s distributors continue to expand the business momentum will be reached where it will seem like everyone is getting involved. That’s when it is going to get really fun and there will be millionaires made at that time.
Does it really matter when you choose to build your own business? If you become a millionaire a few years later than some others, is that still acceptable? For most the answers are No and Yes. To others it may not be okay. That’s what’s great about building this type of business you can go fast or slow. It is all up to you.
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If you search on the internet for “Retirement” you will get millions of findings. About 1,080,000,000 results on google came up for me. You need to be more specific on what you are looking for here. Most of us that are still in the planning phase of our retirement may need to learn more about how much it takes to retire or find a retirement calculator. Other will be looking for investment options or even places to live when they retire.
I recall seeing different options as I was entering the workforce than we have today. I did not choose to work for the government or a company that was unionized so most people like me did not get a option for a pension plan. Most us have the option of a 401K or another type of employer savings plan, Social Security and other personal savings.
I spend a lot of time thinking about how much is enough to have and what will the best timing be. One thing I remember a very wealthy man telling me was that retirement should be decided by income, not by age. He felt that most people spend 40 hours a week for 45 years working so they can retire on about half what they had been earning or less. Seems right. Hopefully we can get our income where we need it to be to retire at an earlier age than 65 or 70.
I guess now, I am focused on creating as many different streams of income as I can to support me in the retirement years. In addition to the ones above I am focused on creating additional cash flow. This probably more important than having a home that is worth $500,000, because you can’t spend it. Cash flow is what is needed to support your daily living expenses. Sure you can take some of the earning from your various plans but if you take too much the principal balance diminishes and the earnings will be reducing instead of increasing. Not Good.
Tip #1-You should look into creating cash flow, not just savings.
According to an article written by Richard Quinn, called “10 retirement lessons from a retired retirement pro” he gives us this lesson #5 from his list
“5. Inflation is real. For many people, health care spending, property taxes and rent will be the big inflation concerns. There’s no escaping inflation, so you need to plan. I would suggest having a pool of money that you leave untouched and allow to grow, until you need it later in retirement to offset increasing expenses.”
It certainly gets you thinking about how to offset for this doesn’t it? As our money sits in savings accounts that don’t earn enough interest to beat the inflation rate the actual purchasing power actually reduces over time.
Tip #2- Don’t forget the impact of inflation on things that we actually buy.
Some people joke about being a Walmart greeter after they retire because they will need to continue working in their retirement years. For some it is to continue to be productive and remain part of something. For others it is to add some needed income. I recall talking to a older guy I worked with. We were discussing when we would retire. He said “I’m never going to retire, I don’t want to sit in a rocking chair and do nothing for the rest of my life”. I thought that was odd actually, because I thought that retirement is when you get to do everything. I realized later on that he wanted to stay active and contribute to something. I think that his fear was of not being useful anymore. I can see now that he was not considering all the options. He was a skilled trade person who could teach others his skills. He could have taken on a business or even began another career after his main one ended. Many people are just working until they can no longer do it, due to health reasons.
Consider the options you may have as you consider retirement. You may be able to run a business, be a consultant to the industry you worked in or work in another field entirely if you want. No one says it’s a requirement to retire into a rocking chair or anything.
Tip #3 Consider planning to work longer than your employer may want you to. Consider the options above or look into creating a passive income, that can continue to support your lifestyle.
In any case you need to think about what you are going to do. No decision, is still a decision and leaving it up to chance may not be the best method. If you need help from a profession planner make sure they are reputable and make an appointment.
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