Hi – This is Rajat here, and today we’re going to be talking about the 2 Secrets of Success when you go out to promote your business – whether it’s to go and get customers for your product (which you will NEED to do as a new Business owner), or forge alliances and partnerships that expand your reach (like Ray Kroc of McDonalds and Col Sanders of KFC once did). Read More
As a first-time entrepreneur, you may feel lost or scared at the thought of starting out on your own.
Too many times, would-be business owners are dissuaded because of reasons that can be bunched into 2 main categories:
- Don’t Know Where/How to start
- Fear of Failing
I am here to narrow down or simplify the problem for you.
You see, focusing on “methods” is only going to confuse you the more you think about them. That’s why you need to focus on the “Principles of success”, not so much on the “methods”. That’s how specialists spot opportunities and capitalize on them before everyone else.
With a deep study of Principles of success, you can see into the future, and recognize the pearls from the dust.
Over time, you will see that sticking to the Principles paves the path for you, the longer you stick to it, and even your failures turn into eventual success. Read More
Now that you’re probably adept at distinguishing a legitimate Network Marketing business from an illegal scheme (hyperlink to prev article), let me show you to succeed in different types of Network Marketing compensation plans.
First and foremost, let us visit the basics. Read More
The #1 Secret to MLM Success
I bet you would like to know the secrets to MLM success, don’t you?
In today’s time, there is absolutely nobody who has not been exposed to a Network Marketing Opportunity – either as a potential customer or as a potential partner.
And I bet that there’s NOBODY with ambition, who has not wondered how some people become successful Network Marketers while the majority remain average or even fail to get off the ground. Read More
Network Marketing or Multi-Level Marketing.
The Elephant in the room.
Yes. Finally, we are going to discuss the tricky topic that most marketers, including your Affiliate Marketing Guru, will steer clear of.
So let’s get started… First things first.
A cursory search of the terms Network Marketing in the Google search console gives us this:
a) It is a “Business opportunity” i.e. an opportunity for people like you and me to make money, doing our OWN THING
b) You can work part-time or in a flexible fashion.
c) Some of the “best-known companies in America” fall under this umbrella.
d) Also called Multi-Level Marketing since “commission payouts occur at many levels”
So – why would your Marketing Guru steer clear of this topic, you ask?
Well, for starters, they themselves may not know how Network Marketing works, and whether it is a good thing or a bad thing.
Sometimes, just sometimes, they may even be scared that you may eventually stop paying for their advice, since many Multi-Level Marketing Companies (or Direct Selling companies) “Provide Support and Training as well” i.e they are an all-inclusive Business Opportunity.
Secondly, a SURPRISINGLY HUGE number of scams have occurred under the garb of Network Marketing – most of these being “Pyramid schemes”, or “Money chains”.
So, let’s first explore the first, and then see how to watch out for the other.
KEY FEATURES OF Network Marketing or Multi-Level Marketing Businesses
MLM is a marketing strategy in which you as the Affiliate Marketer are compensated not only for sales you personally generate but also for the sales of others you recruit, creating a downline of distributors and a hierarchy of multiple levels of compensation.
You may start off by retailing too, and sponsoring people (as downline distributors) from, your “warm list” of prospects and then utilize more sophisticated marketing techniques such as the Internet, conference calling and other long-distance sponsoring techniques to extend your network across the country.
Conversely – A pyramid scheme is a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products or services.
Some pre-requisites enforced by the Federal Trade Commission in the US, the Australian Competition and Consumer Commission and other similar Government agencies in each country in order to qualify as a legitimate Multi-Level Marketing or Direct Selling Business:
- Sales of viable products should be involved – This is a BIG one! Probably the most important. A product is described as viable if a) It fulfills a common, or projected consumer need. b) It is priced near-about the same as similar competing products in the market c) There is a current or reasonably researched future market need for the product
- There should be a buy-back or free-look period – ALL legitimate Multi-Level Marketing Companies offer a free-look or a buy-back period ranging from 1 to 4 weeks, with a refund clause for you, should you rethink your decision.
- There should be no forced buying of products yourself – While some companies may insist that you must own the product in order to showcase it, some others may throw in a product-set for you as part of the enrollment fee. In ALL cases these come with the buy-back guarantee, and in NO case should you be forced to go on purchasing the product repeatedly.
- Revenue must come from sales commissions, there should be no commission from recruiting – Once again, the keyword is “Marketing”. The revenue structure of the company, as well as the commission structure for you, should be based PRIMARILY on product-sales and NOT on recruiting other sales agents (down-lines). It DOES emerge that recruiting more sales agents to build your team WILL enhance company revenue (and your commissions), but if a company pays you primarily to get others to join (regardless of whether you or your downlines bring in any sales revenue), that should make you run out through the nearest door.
Conversely, a pyramid scheme will be conspicuous by the absence of viable products and the absence of a marketing model i.e. you don’t have to sell anything to anyone, and are only paid when you recruit other people to ‘pay into’ the chain or matrix.
More links about Network Marketing or Multi-Level Marketing, from marquee online magazines:
The Difference Between Being Super Rich and Wealthy…
Would you like to be super rich, or merely wealthy?
What do those terms mean anyway? Does being Rich, and/or Wealthy both mean the same thing? Read More
The Difference Between Active And Passive Income
I did a video on this topic a while back, and I still feel the need to keep hitting this nail again a few times every year, because I truly feel that the whole point of working in the Online Affiliate Marketing area is gradually lost in the haze if you don’t focus on the main point. Read More
Okay, so let’s say you’re ranging somewhere between ‘Curious’ to ‘Attracted’ to the idea of setting up an Online Business.
Maybe you’ve done some homework on niche selection and have a fair idea of where you would like to wet your feet. And you’ve also found some leaders or Gurus to help you along the way.
So you start with all the paraphernalia of getting a domain, buying a Hosting package, maybe you spent a week learning WordPress, and another few weeks understanding SEO (yea – that stuff is complicated). Maybe the Guru helps you all along the way, also recommending their affiliate links to you here and there, helping you get the odd dollar discounts on hosting and such. Read More
Dear Entrepreneur – This article is about having the Right Mindset, when starting out in Internet Marketing.
I feel that it’s really important to focus on the “mindset” before you start with procedure or techniques. A Mindset is a way of looking at the world – that is the key to understand using what you learn. It can clarify decision making and help you understand others.
When you have the right mindset, you can apply what you HAVE – to the world – in order to get what you WANT. The right mindset can help you get WAY ahead of the curve, in any area of life. Read More
Would you like to know the biggest secret to making it in Online Marketing?
It is to select an area, or topic, or body of knowledge that you are passionate about…that drives you.., and also happens to be an area where a lot of people are exchanging information, products – and money is changing hands.
This specialized area is called a niche, and a good niche must resonate with your innate passion, as well as have what we call ‘profit-potential’. Read More