The World Business

Archive for March, 2010

A few problems that some new MLM marketing people have:

1. No upline support.

Once a person joins a new MLM marketing program, he or she is vulnerable and needs a lot of help from something or someone.

In many cases, the uplines are not actively helping them. This happens a lot when the uplines are simply sponsoring as many people as they can with no regard to what happens to them after they get sponsored.

In most standard MLM marketing programs, it is important that the new person gets immediate assistance from a local person, or tools that you have. Otherwise their chances for survival are very slim.

2. New MLM marketers cannot sell.

This is probably the major reason most people do not make it MLM marketing. By using standard MLM techniques, you have got to sell and learn how to speak at opportunity meetings and the like.

3. MLM’er cannot generate good leads.

Next to the selling problem, this has to be the next biggest reason most people fail in MLM marketing.

Here is a picture of what normally happens. The new person has just signed up in an exciting MLM program. He is taught by the manuals, meetings and so forth, how he should “share” his product with his friends, neighbors and relatives.

Normally, he is not comfortable with this, and if he is typical, he will have many sleepless, tossing and turning nights. He just doesn’t want to “impose” on his friends! He would feel a lot more comfortable just presenting his opportunity to strangers.

4. No true duplicative system.

If the MLM marketing company must be promoted through expensive methods, this is not feasible.
Learning how to sell, or to speak and conduct an opportunity meeting is just not duplicative. Only a few people can do this. Here again, is a very important reason a lot of would be MLM’ers die on the vine.

5. Selling by mail using standard MLM techniques.

Traditional way to marketing MLM is to spend all spare time to call around and travel around to get prospects. A lot of people already have full time job, it is hard to find extra time to travel and make phone calls. This is why these MLM marketers cannot keep their program going.

6. The marketer is not sure about the MLM marketing company or service.

Often a person will sign up in a MLM marketing program in a “fit of excitement.” After the dust clears, he comes down to earth and reality slowly sets in.

Pick an established and financially sound MLM company that is at least two years old with unquestionable products or services. That way, you can feel good about the company and products that you are promoting. There is nothing quite like being able to “tell the complete truth” to your prospective customers.

7. They do not stick with it long enough.

Starting any company takes time, and this is true with an MLM marketing program as well.
By the time you study the program, write and receive literature: study this and sign up; get the literature, etc. a lot of time has been spent. And then you have to generate your leads and so on.

It will take several months before you can expect much of anything to happen to your MLM marketing. You should set in your mind that you are going to stick with this for at least sometime. That just makes good business sense.

Rebates have become increasingly popular in the last few years on a lot of items and certainly on electronic items and computers. Rebates of $20, $50 or $100 are not uncommon.

I’ve even seen items advertised as “free after rebate”. Do these rebates come under the heading of “too good to be true”? Some of them do and there are “catches” to watch out for but if you are careful, rebates can help you get some really good deals.

The way a rebate works is that you pay the listed price for an item then mail in a form and the bar code to the manufacturer and they send you a refund thus reducing the price of what you paid for the item except with a time delay of several weeks.

Rule #1. Rebates from reputable companies are usually just fine.

You can be pretty sure you will get the promised rebate from Best Buy, Amazon or Dell but you should probably not count on getting one from a company you’ve never heard of. If you really want the product and are OK with paying the price listed then buy it but don’t count on actually getting the refund.

Rule #2. Check rebate expiration dates.

Many times products will stay on the shelf of a retailer after the date for sending in the rebate offer has expired so check that date carefully.

Rule #3. Be sure you have all the forms required to file for the rebate before you leave the store.

Rebates will almost always require a form to be filled out, a receipt for the purchase and a bar code.

Rule #4. Back up your rebate claim.

Make copies of everything you send in to get your rebate including the bar code. Stuff gets lost in the mail all the time and if the rebate is for $50 it’s worth the trouble to back up your claim.

Knowing what your risk tolerance and investment style are will help you choose investments more wisely. While there are many different types of investments that one can make, there are really only three specific investment styles – and those three styles tie in with your risk tolerance. The three investment styles are conservative, moderate, and aggressive.

Naturally, if you find that you have a low tolerance for risk, your investment style will most likely be conservative or moderate at best. If you have a high tolerance for risk, you will most likely be a moderate or aggressive investor. At the same time, your financial goals will also determine what style of investing you use.

If you are saving for retirement in your early twenties, you should use a conservative or moderate style of investing – but if you are trying to get together the funds to buy a home in the next year or two, you would want to use an aggressive style.

Conservative investors want to maintain their initial investment. In other words, if they invest $5000 they want to be sure that they will get their initial $5000 back. This type of investor usually invests in common stocks and bonds and short term money market accounts.

An interest earning savings account is very common for conservative investors.
A moderate investor usually invests much like a conservative investor, but will use a portion of their investment funds for higher risk investments. Many moderate investors invest 50% of their investment funds in safe or conservative investments, and invest the remainder in riskier investments.

An aggressive investor is willing to take risks that other investors won’t take. They invest higher amounts of money in riskier ventures in the hopes of achieving larger returns – either over time or in a short amount of time. Aggressive investors often have all or most of their investment funds tied up in the stock market.

Again, determining what style of investing you will use will be determined by your financial goals and your risk tolerance. No matter what type of investing you do, however, you should carefully research that investment. Never invest without having all of the facts!

There is always controversy when it comes to the topic of whether your company should have a “logo” or not.  Some people firmly believe that you have to have one, while others say it’s not necessary at all.  But who’s right?

I took this question to a variety of firms that have company logos.  I personally conducted a survey by asking presidents, vice presidents and owners of companies using them why a company logo was necessary to their business image.

In summary, it is NOT necessary for your business to have a company logo UNLESS your particular company is in a class that demands one.  According to an article in “Income Opportunities,” Jay Lander, founder of Lander Design in Metuchen, New Jersey, states:  “Logos make sense for real estate firms and others who have lots of competition as well as for those with opportunities to ‘show off’ a logo — on lawn signs, print advertisements, stationery and business cards.  Restaurants, which typically need to distinguish themselves from the pack, put logos on matchbooks and usually carry the design on their menus.”

Lander further states:  “The size of an organization is not a good measure by which to decide in favor of a logo.  Many businesses prod along fine without any.”

What’s the Real Purpose For One?

Two “real” reasons:  (1) for customer identification, and (2) for prestige.  Wendy’s restaurant, for example, has a logo of a little red-haired girl in pigtails.  If you’re driving down Route 66, you normally can recognize a Wendy’s restaurant several miles away because of the shape of the company’s logo on their sign.  Also, you don’t have to read the words “McDonald’s” to know it’s a McDonald’s restaurant.  Instead, you recognize it by the golden arches.

But does a regular mail order business need one?  Probably not.  The reason I use the word “probably” is because a company logo is only necessary if your market demands it. Any good business, after they have had time to grow enough to have a customer base of repeat customers, will get to know them on a more personal basis.  We do this to learn our customers’ needs and wants so we can sell them the proper products and services.  When that time comes, as a mail order business you can make the decision whether or not to have a company logo.

How will you know?  Because your dedicated customer base of repeat customers will demand it.  However, if your customer base is comprised mainly of small businesses on the same level as yourself, it probably won’t be necessary to have a logo.

What About Prestige?

If you want to make your company appear like a professional organization because you want to attract business from other professional organizations, it may be necessary to adapt a company logo regardless of whether  you need one or not.  This is called “prestige.” Established multi-level marketing firms use company logos to provide their distributors with company recognition as well as prestige.  Other smaller companies use them solely because the owner believes it makes him or her appear more established in business.  Whatever the reason, it basically boils down to what you want to do.