MLSP Las Vegas Recap Session – David Wood and Ray Higdon Review

On October 4, 2010, in Attraction Marketing, Network Marketing, by Jim
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In this article, we summarize a recent live stream event which was a wrap-up of My Lead System Pro‘s first annual event in Las Vegas.  David Wood moderated a panel discusion of several attendees at the event.

About 500 people attended the event.  Most attendees expressed that events like this bring some “reality” into the business where many contacts are made initially online.  Whether marketing online or offline, network marketing is a relationship business, based on belief.  Believing in what you do is the critical factor that will take your business to the next level.

Several attendees related the one single thing that will move them forward:

  • To think bigger about the possibilities available in network marketing.
  • The new key to success is merging on-line marketing with off-line methods and marketing efforts.
  • Depending on personality type, some people are good at paid ads, e.g. analytical types, whereas other social types might be better at Facebook marketing.  Those who are creative should consider blogging.
  • MLSP leaders exhibit a high level of integrity and focus on personal development.

At one of the MLSP sessions, Mike Dillard, the father of attraction marketing, commented on warm market prospecting based on a question from Mia Davies.  He stated that if you have belief you can approach friends and family.  But more importantly, he stated that he is working on off-line methods and techniques to meet the needs of the baby boom generation, who don’t want to learn pay-per-click or have to establish an Internet funnel system.

Every 15 seconds a baby boomer will be going into retirement for the next 14 years.  None of them have enough money to retire, which means they’ll need an alternative.  In addition, many of their pensions have disappeared after 9-11 and the latest economic collapse.  For many of these people, Internet marketing skills are out of reach.  Every person by age 20 knows 2000 people, but even at this event of Internet marketers, only 3/100 admitted having a list of 2000 names.

David shared how he invited his personal network marketing team to a session in his hotel room, expecting 20 people to attend.  He and Jake Kevorkian, a co-owner of the company, were surprised when 150 people showed up.  He had no idea that he had that large a representation in the overall meeting (almost a third of attendees).  This attests to the absolute power of Internet marketing, when combined with effective relationship skills, which David has developed over almost 10 years in the industry.  His overall strategy is to learn, do, and teach simultaneously.

Ray Higdon, the #1 earner in David’s main company shared his thoughts.  The fact that he was even at the event is significant.  Ray shared that you are the product of the people you surround yourself with, so you should surround yourself with high caliber people.  If you operate as a “lone wolf,” it’s like mowing your grass with a pair of scissors.  Ray’s success story is based on simply making a decision to turn around his situation (he was broke) and surround himself with the types of people that could move him forward.

Events like this are a key to the generating the next Ray Higdon or David Wood story.   If you have the level of belief in yourself and could see an answer for yourself in network marketing, you should put MLSP’s next event on your schedule and find a way to attend.

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Facebook Marketing Secrets – It’s in the Relationships

On October 3, 2010, in Network Marketing, by Jim
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One indication that most network marketers are virtually clueless was  a recent webinar on social networking, where the most frequently asked question was the following:

“I post information about my products, about the company and about the business opportunity, but no one is responding. How do I offer information without being pushy?”

Is the level of training really this poor in the network marketing industry? In our experience, most of the training from MLM companies is about the company and products. Little information is typically provided about exactly how to share this information with others. And, in fact, most of the information provided by companies and “successful” associates is motivational in nature vs. oriented to practical methods that have proven success.

Of course, posting information about your network marketing company on your Facebook page, or even worse on others’ pages, is very ineffective. In the first place, most people are on Facebook for personal reasons vs. their business interests, and will simply remove you if you annoy them with your “marketing information.”  In fact, even having links to your network marketing pages on your profile will limit your ability in adding friends to your network to those already involved in the MLM industry.  And, MySpace will terminate members placing business links on their page,  since it is a violation of their terms.

So, what is the answer?  Should you set up a business (or fan) page or a group for your business?  Although  effective for some,especially those with traditional businesses, we would only recommend a business-oriented fan page for network marketing distributors already earning 6-figure income.   A Facebook group, which is similar to a membership site, can be used to selectively disseminate information to your current team members.

But Facebook, despite these factors, remains an incredible tool for network marketers, since people do like to buy, when the circumstances are right.  But since they buy only from people they know, like and trust, your job here is to build trust relationships and friendships.  Establishing these relationships is the key, which must be accomplished prior to EVER mentioning your company, products, or services.  Open ended questions are best for finding out about people, including the following:

  • What do you do?
  • What does that entail?
  • How long have you done it?
  • What did you do before?
  • How do you like what you’re doing?
  • How are you being affected by what’s happening in the economy?
  • Have you ever thought about doing anything else?
  • Are you familiar with the network marketing industry?

Through a line of questioning, such as the above, you can find out if there is a need or want for your product, service or opportunity before bringing it up, and only bring it up if a need exists.  Then you can follow the “training” which you received from your MLM company, typically transitioning to company or upline provided presentations which provide solutions for your new “friend.”

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Network Marketing Tips – Motivating Yourself to Produce

On October 1, 2010, in Network Marketing, by Jim
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If you’ve been around network marketing awhile, you know, like any venture where you’ve become your own boss, a different level of motivation is needed.  You are not out to earn points by “brown nosing” for sure, because this boss knows what you’re up to. But if you were in the position of needing to hire a new representative for your business, would you hire yourself, based on your production the last 90 days?  Most people need significant help with the discipline known as personal mastery.

If you’ve been in it awhile, and are still struggling, could it be time to look in the mirror?  Have you set “goals” each year faithfully and then come up short consistently?  What will it take to light a fire and get yourself into production mode?

By now, you probably know what you need to do on a monthly basis, weekly and daily in order to reach your income or status goal by the end of the year, 3 years, or within 5 years if you consider yourself a part timer.  One thing to keep in mind is that virtually no one who puts in the level of effort fails.  Too often we hear about how 97% fail, but in reality it’s those that don’t make the effort, as in any area of life, who fail.

What are some motivators that will keep you consistently in the game?

  1. Take a look at the success that your mentors in the business are having.  If you don’t have anyone who’s a fairly average person that you “know” you can easily surpass, then check around a little more.  Make sure these people that you are trying to emulate are truly focused on helping others succeed, e.g., they’ve established training for the team and are readily available when you need them.
  2. Realize that you alone are responsible and must take action.  If your mentors and company have a success system, then get to work and follow it, realizing that it’s more than just you own life that depends on your outcome.  What about the family that is depending on you?  What about the team that you’ve brought along?  Their success depends on you going first.
  3. Develop a sense of urgency and a little (or a big) fear of loss.  If you’re in the right place, right time like you’re supposed to be then hesitation will prove fatal.  If you’re not in the right place yet and know it, then first move to that new place.  Realize that even if you’re completely ordinary and average you have what it takes to break through. Train yourself to make the needed contacts and become a zealot for follow-up appointments with those that are candidates for your business.

Self motivation is crucial to success in any business start-up.  Working for the greater good, or at least for the benefit of those coming behind you may be the spark that gets your engine going.

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Network Marketing Tips: How to Eliminate Rejection from the Sales Process

On September 30, 2010, in Network Marketing, by Jim
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In network marketing, the sales process is much the same as when a physician “interviews” his/her patients to determine first if a problem exists and then to devise a solution.  As a professional network marketer, it is your job to discover needs and introduce solutions to your prospects.  These steps will virtually eliminate rejection, due to the fact that you NEVER mention your company, products and services unless you first determine a need exists.

  • Ask Open Ended Questions – These may be familiar to management students as the planning formula and begin with: Who, What, Where, Why, How, and Who.  Find out as much as you can about your prospects’ background in order to get to know them and to uncover if a need exists.
  • Use Sales Transition Questions – Once you have sufficient background information, and a need is uncovered, use questions such as “A lot of people are turning to the Internet to earn extra income; have you ever considered anything like this?”
  • Closing the Sale – Use company or upline provided “tools” to introduce your company, product or service, e.g., website, online video presentation, online conference call, etc.  You don’t want to start selling; rather let the proven company tools do the work, so that the process is completely duplicatable on your team.
  • Set a Follow-up Appointment – When introducing the prospect to your company information, set a specific time to follow-up.
  • When following up, assume the sale.

Here are 5 questions to ask when following up at the appointed time:

  1. What did you like about the business?
  2. Do you have any questions?
  3. Do you understand how you make money?
  4. Do you see an opportunity for yourself in XYZ company?
  5. When would you like to get started?

Don’t speak first after asking questions 4 and 5.  If you speak first, you won’t close the sale.  After they’ve seen it, it is your job to help them see if it is for them or not.  You’re not in the convincing business; just sorting.  Help them with the ROI, e.g., how many people will they have to bring in in order to break even.  Once they’ve reached this, what will they earn if they continue to bring in this number of people consistently?

The network marketing process can be rejection free, if you follow this simple formula.  But it takes practice, since this won’t come naturally for most people.  Expect to put some work into your business and it will pay you at the level you expect and want.

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LifeVantage Review: Company, Products, Compensation

On September 27, 2010, in Network Marketing, by Jim
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LifeVantage is a network marketing company that produces anti-aging products based on the Protandim supplement.  The company was founded in 2003 using a retail business model, but changed to mlm/network marketing in 2009.  In 2005, TV specials by ABC, the Today Show and PBS helped the stock reach $20 per share, but lack of sales resulted in a decline in stock price to less than $.10 by the end of 2008.  It had tripled in value as of this writing.  David Brown, formerly with Metabolife, is the company CEO.  In-house legal counsel, Eric Marchant, has past experience with hundred million dollar MLMs.

The company has a simple product line with only two core products: a daily supplement and a skin cream.  Both are based on Protandim, which is an antioxidant enzyme co-discovered by Dr. Joe McCord (the company’s Director of Science) in 1968 at Duke University.   Rather than introducing external antioxidants to the system, Protandim stimulates the body’s natural production of antioxidants, which is shown by clinical trials to be many times more effective than simply using external antioxidants.  Over 20 universities have studied Protandim in relationship to its effect on anti-aging and disease.

The cost of Protandim is relatively affordable at $39 for a month’s supply on autoship.  This isn’t bad at all for a product that is clinically proven to reduce oxidative stress by slowing down the rate of cell aging to the level of a 20 year old.

Can you make money with LifeVantage?  The compensation plan seems to be entirely legal, based on unilevel compensation plan with 9 levels.  A potential matching bonus is offered on the first 4 levels and it is possible to qualify for coded bonuses through unlimited depth.  These combined features should provide adequate up-front payments as well as the important long-term residual income.

LifeVantage seems to have a winning combination including an affordable product with proven results.  The main issue in our mind would be the over-crowded market space for nutritional companies in network marketing.  Even with winning products and a killer compensation plan it is easy to become lost in all the “noise.”  Every company claims to have the best products to meet the demands of the aging “baby boomer” population.

Marketing will be the key to anyone’s success in LifeVantage.  A simple, duplicatable marketing system is the best approach, which can be coupled with more advanced attraction marketing techniques using the power of the Internet to spread the word.

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My Lead System Pro Review – What Are the System’s 4 Main Pitfalls?

On September 24, 2010, in Attraction Marketing, Network Marketing, by Jim
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Ban_pyra.gif (No to network marketing).

Image via Wikipedia

In this article we take a close inside look at My Lead System Pro (formerly MLM Lead System Pro).  MLSP is the leading attraction marketing system on the Internet, but is it something that you need absolutely for your business?  What are the most important features?  We answer these and other questions today.

First a little background.  Attraction marketing marketing systems have been used for generating leads even before the Internet’s advent and for a number of different types of ventures.  The core concept is offering something of value for free or at low up-front cost in order to begin to engage in “permission-based” marketing.  On the Internet, it’s generally some type of information product that you’d have to pay for elsewhere, e.g., an ebook, a training course (bootcamp), or trial membership.

My Lead System Pro was one of the first to introduce attraction marketing within the MLM/network marketing context.  It is a turn-key affiliate system that features dozens of affiliate revenue streams within one master membership, while at the same time educating its members in marketing and also providing the “engine” for building your own MLM lead generation system.  It provides excellent integration of all the needed system components featuring its own customizable capture/squeeze pages, a choice of its own internal autoresponder vs. two third-party systems, pre-written sales copy and follow-up emails, and your own branded domain/hosting platform.  It is an excellent system for getting started with internet marketing which includes step-by-step video tutorials throughout and several live training calls and events throughout the week.

The system, although, complete and an excellent choice for most people does introduce some pitfalls for network marketers.  We see 4 main areas:

  1. Although the system’s creators clearly teach the concept of branding You, Inc., there is a tendency for members to “sell” MLSP vs. truly spend time recruiting for their respective MLM company.
  2. Although setting up the system is simple and well documented, it does take technical abilities that may  be beyond the aptitude of some.  Also, learning marketing skills may be a significant learning curve for many, so that producing leads could take months even for those who are the most diligent in actually using the system.
  3. Although the system is proven to be very effective, its popularity overall has created a certain level of over-exposure online, which will likely become worse as the system’s use inevitably expands.  We suggest the use of individualized capture pages to lessen the effects of this particular challenge.
  4. Although providing the ability to recruit outside of those currently in MLM, the system would require heavy customization to meet this niche need, since it intentionally targets those currently unsuccessful in network marketing.  This strategy could be leaving many potential prospects only reachable by other means, including those not in MLM but previously unsuccessful and those never exposed to MLM.

MLSP offers the network marketer an excellent platform to use for Internet recruiting of network marketers who are currently unsuccessful in building a business.  The system’s 4 main pitfalls are areas to be aware of when using the system.  We highly recommend MLSP for those who are interested in a state of the art recruiting platform but urge some caution in its use so that the main focus remains building a strong residual income in the network marketing system of your choice.

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4 Biggest Challenges to Sponsoring More Representatives – Todd Falcone Review

On September 22, 2010, in Attraction Marketing, Network Marketing, by Jim
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In this article, we review a recent presentation made on the My Lead System Pro Weekly webinar by Todd Falcone. Todd is a networker, by trade, having built successful teams in 4 different companies over a 20 year period. He is the author of “The Fearless Networker,” a popular handbook for distributors in direct sales/network marketing.

The 4 areas people stuggle with in the area of prospecting?

  1. Connecting – You are looking to create a “warm and fuzzy” feeling whether meeting locally or using automated lead generation systems.  Todd visualizes a big block of ice between him and the prospect.  He gets an ice pick to chip away the ice and blow torch to melt it.  People buy from people they know, like and trust, so you must make the connection.  The things to be aware of and manage are areas of common interest, styles of communication, mirroring the prospect’s personality style.
  2. Follow Up – Follow up is more about doing that technique.  The key is setting firm appointments with prospects for follow-up and then meeting your commitments.  When a prospect fails to show you can pretty much just cross them off your list.  Sometimes, you can give a little leeway, but you should leave a voicemail clearly indicating that you are looking for professionals and so far this person doesn’t seem to be fitting the mold.
  3. Overcoming Objections -   This area can be learned by involving your upline on 3-way calls and learning as they answer the more difficult questions, some effective ways to respond.  Since there are only really 5 or 6 main objections normally encountered for any business, these can be learned fairly quickly.
  4. Closing – Listen for buying signs from your prospect such as questions about getting started, etc.  If you’ve been paying attention and truly listening to your prospect, the close should come naturally, as a benefits-based reason that your company and/or products can meet their wants/needs.  There isn’t any magic involved and simple questions work best:  “Are you ready to get started.”

Todd has been successful in building networking organizations, since he operates using a lot of posture.  He likens it to recruiting a new CEO for a company, in which the bar is set very high.  It should be the same in network marketing companies, although most distributors operate from a level of scarcity.  In reality, you are just looking for a few leaders that have what it takes to succeed.  This doesn’t necessarily been a very high skill set, though, because it’s more about desire than raw ability in most cases.

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Network Marketing Tips – The 2 Biggest Mistakes in MLM

On September 21, 2010, in Attraction Marketing, Network Marketing, by Jim
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You just returned from your super-galactic convention, where you heard all the most amazing stories not only about all the 6 and 7-figure earnings you’re going to achieve, but new scientific breakthroughs that make your product so ideal for your prospects.  You can’t wait to tell everyone you know everything you learned.  So you dust off your old list of friends who could benefit the most, or if you’re new, you begin the process.

As soon as you start contacting these people you begin noticing that their is a certain “coldness” to your “offering.”  Some of your friends immediately retort with “What are you selling now?”  Of course some are more polite and supportive, at least initially, and ask for information to review.  If you’re company deals with nutritionals, they of course want to take it to their doctor for his/her review.

A few become customers initially and even agree to include a distributor “kit” on the order to lock-in a spot in the super-galactic compensation plan.  Fast forward about 3 to 6 months, when these new “team members” begin approaching you about stopping their product shipments because the now have a “closet full.”

But you’re not discouraged yet.  It’s now time to “reach out” to others who have a need, or if you’re a “supportive” person, to begin your crusade to save the world by introducing your company and/or products.  When new people get to this point, if they haven’t already quit in discouragement, there are two additional mistakes that put the final nail in the coffin of their business venture:

  1. Bringing up the business before a relationship exists.  When beginning your marketing efforts outside the immediate “circle of friends,” whether via advertising, online, or local events and contacts, you must first establish a relationship.  The concept goes back to Dale Carnegie and has been refined and is now taught by many others.  But the basic rule is “never” bring up business where no relationship exists, and then only upon discovering a true need in a person’s life.  And the worst temptation is when a “prospect” expresses a need to you prior to having a relationship.  DO NOT launch into your presentation until you’ve first established the relationship.
  2. Trying to establish a relationship in the process of “selling” your product or opportunity.  Once you start your business “pitch,” it is too late.  Attempts now to build a relationship will be viewed always as insincere.

These mistakes made by the majority of network marketers don’t have to be fatal.  We all learn from our mistakes and this is proven to be the most effective mode of learning…the school of hard knocks.  So realize it, admit it, and move forward.  Only this time create a relationship first, and then those whose  needs are precisely met by what you offer will become your business partners for life.

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The Truth of Creating Wealth in Network Marketing – David Wood Review – Numis Network 5 Star

On September 17, 2010, in Attraction Marketing, Network Marketing, by Jim
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David Wood, Numis Network’s newest Five Star, shared recently his perspective of what is needed to create wealth in mlm/network marketing. He explained that the nature of network marketing is exponential growth, although it doesn’t happen to everyone. It only happens to those who do the right things. He has passionate belief that the network marketing industry is the most awesome business model in existence. His belief is based on “fact” of the people he has personally known.

What things need to be in place in order to truly make it happen, e.g., earning in excess of $1 million annually.  Network marketing is currently a $114 billion industry.  There are basically four types of companies in existence today:

  1. The first type is scams.  You don’t have to sell, or do anything.  Just send in $3,000 and it will take care of everything.
  2. The second is party plans.  Examples are skin care, make-up, knives, cookware, and candles.  Where you invite everyone over for a party.  These will not produce leveraged, residual income, because professional business builders will not get involved with these companies.
  3. The third type is the very large companies, such as Amway, Nuskin and others doing $100 millions in sales.  The difficulty with these companies is that they are beyond the rapid growth stage, e.g., Amway has been doing $9 billion in sales for over 10 years.
  4. The fourth type of company is the “holy grail.”  This is a company in the right place at the right time, and provides the possibility of a life-changing breakthrough where time and money are no longer an issue.  An example is one of David’s friends who started in Amway in 1981, when they had reached $1 billion in sales.  At the time, no one thought that there was much growth left; however within 10 years Amway grew to $9 billion.

What are the options for finding the right company?

  • Nutritional companies, although proven to create residual income, make up 4800 out of 5000 currently in network marketing, which makes this an extremely competitive field and difficult to create wealth.  Many leading nutritional companies have flat-lined in the last couple years due to the current recession.
  • Technology companies are also proven to create great wealth, although pricing pressure has made it difficult to duplicate the success of such notables as Paul Orbison.  He was earning almost $2 million monthly in Excel in the 1990′s, until competitive factors forced Excel out of business.  Current technology companies face the same issue.

What are the key elements needed in a “holy grail” company?  The most important facet is rock-solid leadership.  Secondly, financial backing is crucial to new companies because of regulations and operating costs.  The third thing that is required is a product line without competition in it’s market niche.  Finally, a break-through company will have a compensation plan that innovates new ways of paying distributors.  For further information, check out David Wood’s blog.

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MLSP Success Story – 3 Methods of Changing Your Beliefs

On September 15, 2010, in Attraction Marketing, Network Marketing, by Jim
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In a recent webinar, the founders of My Lead System Pro (MLSP) provided an overview of their personal success story in the context of ways to change your underlying belief systems. Brian Fanale shared the importance of importance of events in changing the overall direction of his network marketing efforts.  Norbert Orlewicz also shared his thoughts about what it takes to achieve success, also emphasizing the importance of events in making a big breakthrough.

One of the biggest problems today is the plethora of information that people must deal with in order to break through.  All of the knowledge available within MLSP is important, e.g., strategies for Facebook, Twitter, etc., but the most import element is “belief.”  This is also true, in general, in life.  Your beliefs actually shape the world.   If you pay attention to your life and daily habits, as well as the thoughts you think consistently and how you talk with people, you’ll begin to uncover your true beliefs.  Your actions are a reflection of your deepest held beliefs.

If you’re not happy with your life, business, bank account, etc. and want to change your life, how can you make changes to your reality?  At a core level, you need to change your beliefs.   If this is true, then how can you change your beliefs?  There are three ways:

  1. A crisis – This is what often happens to people who have a heart attack or are facing bankruptcy.  They are willing to make radical changes in order to achieve results needed, often in a big hurry, in their life.  Fortunately, you don’t have to face a crisis in order to make changes.
  2. Simple logic – An example of this is when you see someone else who is successful and your level of belief is raised about the possibilities for you.  When the 4 minute mile barrier was first challenged in the 1950′s, it had been about 100 years since records had been kept.  But as soon as one person broke the barrier, several other people were also able to accomplish it within weeks.  Similarly, when you meet people at events who have achieved the success you’re looking for, it suddenly becomes possible for you to break through your limiting beliefs, having seen their success in person.
  3. Miracles – An experience that goes straight to your “heart,” completely by-passing logic can quickly mold your behavior.  Personal mastery seminars leverage the “miracle” of experience to make large changes in your life in a short period of time.  This is accomplished by inserting participants into “mock” situations that, on the surface, look impossible, in which they are able to succeed beyond their expectations.  Core beliefs can change “in a moment,” due to both bypassing the logical mind and quickly changing intrenched paradigms.

My Lead System Pro is a system for network marketers and internet marketers who want to implement attraction marketing.  But it is, in reality, much more, providing some of the best leadership coaching available anywhere, at any price.  And best of all, it is based on the results already achieved by some of the most successful leaders in the industry, who are willing to freely share their personal path to success.   A weekly invitation to MLSP’s attraction marketing training is available on request.

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