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How to BEAT The ODDS!
By: Bob Fioravante
Today, many people are craving financial freedom
and independence. Despite what they've been taught
all their lives in school (to conform; do what
others tell you to do, prepare for a 40-60
hour-per-week job), these "netpreneurs" are
appearing online, "ready" (somewhat) and willing
to build their marketing "empires."
Many netpreneurs are choosing to start a network
marketing business, since you can begin this type
of business without a large capital outlay.
Sadly, though, a good percentage of these
individuals have very little training
in marketing, computers, or the internet. And guess
what? They’re losing their collective "shirt" in
the process!
Before "diving" head first into an online business,
there are some important facts and trends to be
aware of that can impact your success in network
marketing. We will look at some of these rather
formidable obstacles to your success, as well as
several popular and effective strategies that
flourishing networkers are now using to achieve
long-term financial security.
GET THE FACTS FIRST!
Over 96% of the new business opportunities on the
internet will fail! In his book, Wave 4 - Network
Marketing in the 21st Century, Richard Poe tells it
like this: "... A tough choice lies before you.
Hundreds of companies vie for your attention, most
of them start-ups. Among those start-ups, the
failure rate is high - over 96 % within the first
year ...." Less than 1% of all MLM distributors
ever earn a profit!
In 1997, MLMSurvivor wrote, the "Truth: for almost
everyone who invests, MLM turns out to be a losing
financial proposition. Less than 1 % of all MLM
distributors ever earn a profit...!"
There has been a tremendous increase in the number
of network marketing opportunities presented on the
'net, with more companies going into "pre-launch"
every day. With all the increased competition these
companies create, MLM downlines are becoming smaller,
and so are your chances for earning a profit!
Usually, the 1% of distributors who become successful
are people with exceptional sales skills, advertising
skills, and the ability to train and motivate others.
Very few people are endowed with a combination of these
special talents!
All too often, when people begin their online network
marketing venture they are under capitalized. They
underestimate the cost of advertising and promoting
their new business properly, especially in today’s
highly competitive online environment. Profits often
come too late to cover the cost of monthly business
expenses.
The sad fact remains that there is a frightfully small
success rate in network marketing. The majority of
distributors are left with nothing more then broken
dreams and drained bank accounts. For many distributors,
the prospect of earning a profit online becomes highly
doubtful, and the internet becomes a risky environment
viewed upon with skepticism and negativity. The only
option now seems to be giving up!
BACK TO THE DREAM
Remember the original "dream" you were sold when you
entered network marketing? A Guru or sharp salesperson
described his or her company as utilizing "Synergy."
He/she explained that he creates wealth for his
distributors by combining three critical components:
residual income, leveraging of time, and
duplicatability.
Wow, sounds impressive, doesn't it? But considering the
barriers to success explained above, you can see how the
"synergy" of these 3 "critical elements" might fall far
short for many people.
Residual income, leveraging of time, and duplication are
the three traditional components that can make network
marketing a powerful business model. Indeed, they do
sound effective, but they can be misleading, as evidenced
by the extremely high failure rate of MLM distributors.
Experienced networkers know this; they know that in
today's fast paced, competitive, and complex online
environment, a full repertoire of effective, innovative
techniques is needed in order to build and maintain a
lasting and profitable business. Let's take a look at five
specific, innovative strategies that successful online
network marketers are now using to help "BEAT the Odds".
MARKETING GROUPS
You may have filled-out a request form for one of these
groups. They have catchy names like: Forever Free Leads
Group, Prosperity Positions Group...Powerful Computer
Money Group...Permanent Downline Universe Group...
Infinite Money Online Group...etc.
The above groups are simply "teaser" web sites that
compel you to sign-up; and you may complete their form
just to find out what they're selling. You are then
contacted by a group member who tells you the real
company he or she represents. Often this is a company
you would have never pursued, had the marketing group
name not enticed you to sign-up.
FRONT-END ENROLLING
Here's a strategy that seems to be growing in
popularity. You give away a variety of freebies to
people, some of which are quite appealing:
E-Books, vacations, plane tickets, URL submission
services, etc., and once people accept your free offer,
they are "opted-in" to your contact list.
Then, you "got 'em!" You can now "drip market" your
primary offer to them slowly, usually on a weekly basis.
Some front-end enrolling strategies use low price
products that are sold for a one-time fee. The rationale
is that by earning a small fee on the front end, you can
earn enough money to buy advertising for your primary
opportunity, until you are safely in profit.
PORTFOLIO METHOD
You might recognize this technique as "multiple streams
of income." Here, you can join several opportunities
either one-by-one, or all "under one roof!"
These networkers attempt to create a hedge against failure
by joining many different affiliate programs or MLMs,
thinking if one fails then at least they will have
positions in other companies. I mean, they can't ALL fail,
can they?
I haven't yet seen any "all under one roof" companies last
very long, and as far as joining seven, fifteen, or
twenty-five different opportunities...how many people can
really specialize in that many different companies at once;
not to mention the sizable budget needed to advertise
appropriately for each separate opportunity!
VIRAL MARKETING
Viral marketing, also called word-of-mouth marketing, is a
technique that is growing rapidly on the internet. It
describes numerous strategies that encourage people to pass
on a sales message to others. As these marketing messages
are passed to others, the potential for exponential growth
is created through the message's exposure and influence.
Like viruses, this strategy takes advantage of rapid
multiplication which can explode a message to thousands,
perhaps millions.
An example of this strategy is Hotmail. When Hotmail users
send an email, they "infect" the receiver of their message
with a tagline (at the bottom) that reads "Get your private,
free email at http://www.hotmail.com."
Another example of viral marketing would include giving away
your own E-Book. On the cover of your e-book, or on several
other pages within, you can imbed your URL, your email
address, and other marketing information. All this marketing
information propagates itself as your E-book is given away!
This technique is most effective when it involves giving a
product away, and when it utilizes a vehicle that transfers
the product easily to others. The internet is an excellent
"vehicle" for this purpose.
THE PROFESSIONAL MANAGEMENT FIRM
This is a new concept. I only know of one professional
management company that is successfully operating at this
time, and they are doing quite well.
When you join this type of company, they place you in a
permanent downline AND place you in a proven Network
Marketing Company. Part of your monthly fee goes to the
management company, which does all your advertising, selling,
and recruiting. The major part of your monthly fee goes to
the MLM for your monthly product order.
The management company builds your business until it
reaches a specified dollar level. You have the option of
doing some extra recruiting yourself, which will bring your
target income to a higher level. An excellent feature of this
plan is, if anything ever happens to the MLM you are in (if
they fold), your downline position remains intact and every
member of the firm moves together into a different MLM...your
income remaining completely intact. Very smart!
About the Author
Bob Fioravante, M.S.ed is a Professional Educator and Online
Marketing Consultant. He specializes in providing network
marketers with a lifetime monthly income, with absolutely no
selling required.
Email: NoSelling@getresponse.com
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