Lorenzo Low68521
Saturday, February 23, 2008
Success In MLM And The Mistakes To Avoid
Like anything else success in network marketing or mlm(multi-level marketing), comes with a lot of hard work,patience,time, and of course, it comes with its own learning curve. How fast one gets past the learning curve depends on education, training, and how fast one learns and avoids the mistakes often made in a network marketing business. In this article and the next one I want to focus on some common mistakes people make in network marketing and how you can avoid them and not let them hinder your success.
One of the first mistakes is listening to hype. Have you ever heard someone tell you to join my company youll get spillover or Ill build your downline for you or you just need 2 people and youll be rich? Well , you know and I know it just doesnt work that way. Too many times people promote laziness just trying to convince people to get in their mlm company. They are desperate and are desperately trying to build a business this way. It wont work it never has and never will! It takes a lot of hard work and time to build a successful long-lasting network marketing business.
Another problem in every network marketing business is you have people signing up and then not doing anything. When they are new they dont know what to do! Training is a must! Most companies dont do effective training and uplines a lot of times dont do any. People have to be properly trained so they will know what to do otherwise they will do nothing or do the wrong things and end up worse off. This is why you need to have a system in place to plug them into immediately to get them trained and making money ASAP. When people know what to do they are more likely to do it. This brings us to the next mistake and that is
You must be duplicatable! If you dont have a system in place thats simple and duplicatable then you will have a hard time succeeding. Network marketing is about duplication. Thats the heart of network marketing. This is why 95% of people in network marketing fail they are not duplicating. The other 5% are recruiting machines and they do most of the work. They can bring in distributors by the truckloads and build a big business but not many of their people can do that. Do you really want to build this way? Wouldnt it be nice to bring in people with a proven duplicatable system and plug them into it and then they do the same thing week after week? Imagine how fast your business would grow! Now it never works that everyone is going to build a business that you sponsor into your network marketing company, but what if just 30% duplicate what youre doing? Would that not be super growth over time? Run the numbers! And besides just having distributors as customers is a good thing- they dont all have to sponsor people. The idea is having a lot of people doing a little bit.
Another mistake is talking to friends and family first about your opportunity. Thats not a good idea unless Aunt Sue likes network marketing. Talk to them about your products and get them as customers. Then when youre making 4 or 5 figures a month you might then mention your business to them but never make a big deal about it. Be elusive and say just enough to elicit more questions from those who might be interested.
Another big problem is not managing your time wisely. This is a killer for your business because certain things must be done daily to consistently grow your business, and if you dont manage your time youll end up frustrated, broke, and in a bad mood with network marketing. If you fit into this category of not managing your time efficiently, or if you just want to get more out of the time youre spending with your business then I highly recommend a program called simpleology at http://www.simpleology.com. This will help you manage your time and help you to understand what you need to do to accomplish your goals and show you the fastest way to reach those goals.
This is the first part of a 2 part series- you dont want to miss part 2! Well look at how choosing the wrong company can have a major impact on your success and how fast you get there. Plus, well look at other critical mistakes so common that people make in network marketing.
© 2006 Beverly Butler. This article may be used by anyone, anywhere as long as the authors bio and links are included and no changes are made.
Beverly Butler helps struggling network marketers become successful with a proven system for MLM success no matter what company theyre in and helps educate them on how to grow their income to unprecedented levels. Her website is http://www.2yourmlmsuccess.com.
Free Diabetic Exchange List For 1200 Ada Diet
Finance Investment Management Risk Series Wiley
100 Tea Tree Oil
¶ 1:29 PM 0 comments
One of the first mistakes is listening to hype. Have you ever heard someone tell you to join my company youll get spillover or Ill build your downline for you or you just need 2 people and youll be rich? Well , you know and I know it just doesnt work that way. Too many times people promote laziness just trying to convince people to get in their mlm company. They are desperate and are desperately trying to build a business this way. It wont work it never has and never will! It takes a lot of hard work and time to build a successful long-lasting network marketing business.
Another problem in every network marketing business is you have people signing up and then not doing anything. When they are new they dont know what to do! Training is a must! Most companies dont do effective training and uplines a lot of times dont do any. People have to be properly trained so they will know what to do otherwise they will do nothing or do the wrong things and end up worse off. This is why you need to have a system in place to plug them into immediately to get them trained and making money ASAP. When people know what to do they are more likely to do it. This brings us to the next mistake and that is
You must be duplicatable! If you dont have a system in place thats simple and duplicatable then you will have a hard time succeeding. Network marketing is about duplication. Thats the heart of network marketing. This is why 95% of people in network marketing fail they are not duplicating. The other 5% are recruiting machines and they do most of the work. They can bring in distributors by the truckloads and build a big business but not many of their people can do that. Do you really want to build this way? Wouldnt it be nice to bring in people with a proven duplicatable system and plug them into it and then they do the same thing week after week? Imagine how fast your business would grow! Now it never works that everyone is going to build a business that you sponsor into your network marketing company, but what if just 30% duplicate what youre doing? Would that not be super growth over time? Run the numbers! And besides just having distributors as customers is a good thing- they dont all have to sponsor people. The idea is having a lot of people doing a little bit.
Another mistake is talking to friends and family first about your opportunity. Thats not a good idea unless Aunt Sue likes network marketing. Talk to them about your products and get them as customers. Then when youre making 4 or 5 figures a month you might then mention your business to them but never make a big deal about it. Be elusive and say just enough to elicit more questions from those who might be interested.
Another big problem is not managing your time wisely. This is a killer for your business because certain things must be done daily to consistently grow your business, and if you dont manage your time youll end up frustrated, broke, and in a bad mood with network marketing. If you fit into this category of not managing your time efficiently, or if you just want to get more out of the time youre spending with your business then I highly recommend a program called simpleology at http://www.simpleology.com. This will help you manage your time and help you to understand what you need to do to accomplish your goals and show you the fastest way to reach those goals.
This is the first part of a 2 part series- you dont want to miss part 2! Well look at how choosing the wrong company can have a major impact on your success and how fast you get there. Plus, well look at other critical mistakes so common that people make in network marketing.
© 2006 Beverly Butler. This article may be used by anyone, anywhere as long as the authors bio and links are included and no changes are made.
Beverly Butler helps struggling network marketers become successful with a proven system for MLM success no matter what company theyre in and helps educate them on how to grow their income to unprecedented levels. Her website is http://www.2yourmlmsuccess.com.
Free Diabetic Exchange List For 1200 Ada Diet
Finance Investment Management Risk Series Wiley
100 Tea Tree Oil
¶ 1:29 PM 0 comments
There Is More Than One Way To SkinA Real Estate Deal With Seller Flexibility In Selling Property
Jack and Mary were desperate. Mary received a big promotion in another state and Jack was looking for a new job in the same city. It was just too good to pass up. Mary was a rising star in the health care industry and with the huge pay boost and promotion it was a job she had dreamed of ever since leaving graduate school armed with her MBA. Jack was a natural born salesperson and could work anywhere selling just about anything. He liked high tech sales in the high ticket electronics field and was close to catching on with a company in the same city as Marys new job. One problem, they had a large house to sell in a very slow and slumping real estate market.
Jack and Mary counseled with the local real estate ace that had long been the resident expert Realtor for their community. They had been in their home for six years and with the past real estate surge they had lots of equity now. Because this was happening so fast, Mary moved to a small apartment near her new job. The relocation price offered by the company was way too low for what they felt they could command in the market. This option was rejected. With ongoing brain storming with Tyler the Realtor, the scenarios included, lease options, lease purchase, and a seller held second. The lease scenarios would be the iffiest of the three. Jack and Mary instructed Tyler to hold the price and offer to pay the selling Realtor a selling fee plus a bonus of $2,500 and agreed to pay the closing costs and prepaid expenses (pre-paid interest, tax and insurance escrows) up to an offered $14,000. Likewise, Tyler was instructed to offer through the MLS selling terms to include a seller held second of 5% to 10% of the purchase price. The list price of $475,000 would mean that the Jack and Mary were willing to hold a second mortgage of 5% Loan To Value (LTV) or $475,000 x 5% = $23,750 or 10% LTV at $475,000 x 10% = $47,500.
Tyler, the listing Realtor, had been in discussion with a mortgage broker active in their area and had some clients that could only get a 90% to 95% LTV first mortgage. They had some credit dings, which were holding them back. Each had fully documented income and was making good money. There were valid reasons for their rocky credit history and both needed time to rebuild their credit. Tyler showed the home to both the prospective buyers who had credit challenges. The first couple didnt like the kitchen layout or the back yard size. The second couple liked the house and had similar reservations but with the flexible financing they figured they could live with it and make changes and improvements down the road when they could refinance down the road and get sufficient monies to do some home improvements.
Jack had closed up the house and had moved with the furniture in tow to join Mary at her new location. The furniture was put into storage in hopes that it wouldnt be there long with Realtor Tyler on the case. Jack had been actively working on his job hunt in the new city for two weeks now. Tyler was now on the phone presenting the offer from the buyers who needed seller help. The buyers would need Jack and Mary to pay $15,000 in closing costs and prepaid expenses. Tyler was making the deal himself so there was no bonus involved. The offer was based on a seller held second mortgage of $47,500 with an interest rate of 10% with a 30-year term and a three-year balloon. The payments would be $416.85/month. At closing, Jack and Mary would payoff their first mortgage of $200,000 and would get somewhere around $188,000 in cash at closing and the seller held second of $47,500.00 paying $416.85/month. Tyler went on to explain that the buyers were putting very little of their own money in the deal and explained the downside risk involved if the buyers defaulted. The only way they could protect their 2nd mortgage equity would be to buy in the first mortgage or just take the loss. Tyler and the mortgage broker, with the buyers permission, indicated that Jack and Mary were in essence underwriting the 2nd mortgage loan on part of the buyers. It was up to them to pass or deny.
On weekends Jack and Mary were looking at new homes, which might meet their needs. One in particular, due to the soft market, the builder was offering major concessions and sales inducements including paying all the closing costs and prepaid expenses. With potentially $180,000 cash available for any purchase they were looking at a builder deal loaded with incentives for a home worth $750,000, which they could now buy for $650,000. The nagging fear was what would happen if the 2nd mortgage payer defaulted. Since, it was up to Jack and Mary to pass on the buyers credit worthiness, with the buyers permission, they went over their entire credit package and personally interviewed them on the phone to find out something of the character of the buyers and the back ground of the of how the credit dings had taken place. It turns out it was a temporary medical problem that had put them behind the eight ball and precipitated their credit dings. Jack and Mary decided to take the deal. Since the buyers had been already pre-qualified, the sale took place in two weeks.
Jack and Mary, with closing funds in hand, closed moved into their new home. Six months had passed and the buyers of their prior residence had made their second mortgage payments on time as agreed. The home had everything they wanted in a home except a pool and spa. The dilemma for Jack and Mary, even though they had got an incredible interest rate in the soft market they were reluctant to incur any additional debt with the 2nd mortgage paying off in now 2.5 years. Jack received a letter in the mail from an investment note buyer who was offering to buy the note at a discount since the note now has some seasoning. Running the math, with the investor getting a 15%+ yield on a 10% face rate ballooning in the next 30 months were offering to buy the note for $42,900 cash. Just for grins, Jack being the super salesman and dealmaker had been working on construction quotes with a pool contractor. He had managed to negotiate a $5,000 reduction and could put everything they wanted for $40,000. Pool contractors were slow right along with the rest of the real estate market. Jack and Mary showed the documentation to the note buyer that indicated six months of on time payments together with copies of the note and mortgage. The note was sold netting out $42,000 in cash. The pool was built the following week. Life was good.
Soft markets can lead to flexible terms which can help complete real estate deals. Keep and open mind. There is more than one way to skin areal estate deal.
Dale Rogers
http://www.sellerhelpsbuyer.com
http://www.brokencredit.com
Dale Rogers is a thirty-year mortgage veteran and frequent contributor to the Broken Credit Blog. The BCB is a free website created to assist the general public with information about credit repair and responsible mortgage lending.
Antenna Dish Multi Satellite
Independence Kansas Newspaper
Country Rock
¶ 2:17 AM 0 comments
Jack and Mary counseled with the local real estate ace that had long been the resident expert Realtor for their community. They had been in their home for six years and with the past real estate surge they had lots of equity now. Because this was happening so fast, Mary moved to a small apartment near her new job. The relocation price offered by the company was way too low for what they felt they could command in the market. This option was rejected. With ongoing brain storming with Tyler the Realtor, the scenarios included, lease options, lease purchase, and a seller held second. The lease scenarios would be the iffiest of the three. Jack and Mary instructed Tyler to hold the price and offer to pay the selling Realtor a selling fee plus a bonus of $2,500 and agreed to pay the closing costs and prepaid expenses (pre-paid interest, tax and insurance escrows) up to an offered $14,000. Likewise, Tyler was instructed to offer through the MLS selling terms to include a seller held second of 5% to 10% of the purchase price. The list price of $475,000 would mean that the Jack and Mary were willing to hold a second mortgage of 5% Loan To Value (LTV) or $475,000 x 5% = $23,750 or 10% LTV at $475,000 x 10% = $47,500.
Tyler, the listing Realtor, had been in discussion with a mortgage broker active in their area and had some clients that could only get a 90% to 95% LTV first mortgage. They had some credit dings, which were holding them back. Each had fully documented income and was making good money. There were valid reasons for their rocky credit history and both needed time to rebuild their credit. Tyler showed the home to both the prospective buyers who had credit challenges. The first couple didnt like the kitchen layout or the back yard size. The second couple liked the house and had similar reservations but with the flexible financing they figured they could live with it and make changes and improvements down the road when they could refinance down the road and get sufficient monies to do some home improvements.
Jack had closed up the house and had moved with the furniture in tow to join Mary at her new location. The furniture was put into storage in hopes that it wouldnt be there long with Realtor Tyler on the case. Jack had been actively working on his job hunt in the new city for two weeks now. Tyler was now on the phone presenting the offer from the buyers who needed seller help. The buyers would need Jack and Mary to pay $15,000 in closing costs and prepaid expenses. Tyler was making the deal himself so there was no bonus involved. The offer was based on a seller held second mortgage of $47,500 with an interest rate of 10% with a 30-year term and a three-year balloon. The payments would be $416.85/month. At closing, Jack and Mary would payoff their first mortgage of $200,000 and would get somewhere around $188,000 in cash at closing and the seller held second of $47,500.00 paying $416.85/month. Tyler went on to explain that the buyers were putting very little of their own money in the deal and explained the downside risk involved if the buyers defaulted. The only way they could protect their 2nd mortgage equity would be to buy in the first mortgage or just take the loss. Tyler and the mortgage broker, with the buyers permission, indicated that Jack and Mary were in essence underwriting the 2nd mortgage loan on part of the buyers. It was up to them to pass or deny.
On weekends Jack and Mary were looking at new homes, which might meet their needs. One in particular, due to the soft market, the builder was offering major concessions and sales inducements including paying all the closing costs and prepaid expenses. With potentially $180,000 cash available for any purchase they were looking at a builder deal loaded with incentives for a home worth $750,000, which they could now buy for $650,000. The nagging fear was what would happen if the 2nd mortgage payer defaulted. Since, it was up to Jack and Mary to pass on the buyers credit worthiness, with the buyers permission, they went over their entire credit package and personally interviewed them on the phone to find out something of the character of the buyers and the back ground of the of how the credit dings had taken place. It turns out it was a temporary medical problem that had put them behind the eight ball and precipitated their credit dings. Jack and Mary decided to take the deal. Since the buyers had been already pre-qualified, the sale took place in two weeks.
Jack and Mary, with closing funds in hand, closed moved into their new home. Six months had passed and the buyers of their prior residence had made their second mortgage payments on time as agreed. The home had everything they wanted in a home except a pool and spa. The dilemma for Jack and Mary, even though they had got an incredible interest rate in the soft market they were reluctant to incur any additional debt with the 2nd mortgage paying off in now 2.5 years. Jack received a letter in the mail from an investment note buyer who was offering to buy the note at a discount since the note now has some seasoning. Running the math, with the investor getting a 15%+ yield on a 10% face rate ballooning in the next 30 months were offering to buy the note for $42,900 cash. Just for grins, Jack being the super salesman and dealmaker had been working on construction quotes with a pool contractor. He had managed to negotiate a $5,000 reduction and could put everything they wanted for $40,000. Pool contractors were slow right along with the rest of the real estate market. Jack and Mary showed the documentation to the note buyer that indicated six months of on time payments together with copies of the note and mortgage. The note was sold netting out $42,000 in cash. The pool was built the following week. Life was good.
Soft markets can lead to flexible terms which can help complete real estate deals. Keep and open mind. There is more than one way to skin areal estate deal.
Dale Rogers
http://www.sellerhelpsbuyer.com
http://www.brokencredit.com
Dale Rogers is a thirty-year mortgage veteran and frequent contributor to the Broken Credit Blog. The BCB is a free website created to assist the general public with information about credit repair and responsible mortgage lending.
Antenna Dish Multi Satellite
Independence Kansas Newspaper
Country Rock
¶ 2:17 AM 0 comments
