Storm Financial. A Simplified Case Study Of What Went Wrong And Why Everyone Is Angry.


Nana's lost everything!

I was reminded yesterday that unless they’re in the financial sector or directly involved, most Australians don’t know what happened at Storm Financial. All they know is that whenever they hear the name mentioned in the news, it’s usually followed by a video clip of a person who looks very angry, very upset or both. So I thought I’d prepare a case study to explain, what allegedly happened so that you can be forewarned, next time someone promises you wealth beyond mention.

Disclaimer: At the outset, I want to say that I was never employed with Storm Financial and have only innuendo, industry rumour and clients stories to base this case study on.

Nana Jones

When Peter Jones Jr. first received the call from his mum that his Nana had lost her life savings, he was at first upset for her. That pain quickly turned to anger once he saw her and heard her story and realised that she’d lost more than just a few dollars in a term deposit. She was now, homeless.

When Nan and Pop first got married, they bought a little home in Nundah, a family oriented suburb in Brisbanes Northside. There were plenty of schools around for the family that was on its way and a train station, a short walk away which Peter Jones Senior would use for 40 years to take him backwards and forwards to the factory he worked in a few suburbs along the line.

Everything went according to plan, they raised their kids, they paid off their mortgage and built up a small nest egg. Pop retired and saw out his days helping Nana in her garden.

After he died, Nana’s Age Pension was reduced to 66% of what her and Pop used to receive as a married couple. Too proud to ask her family for help to pay the bills, medical costs and general living costs that were now starting to seem insurmountable, Nana reached out for help. One of the ladies at her bowls club referred her to a Financial Planner she was seeing.

Most Financial Planners are good people. This one wasn’t.

Given that her problem was cashflow, Nana’s Financial Planner, John, advised she use the equity in her home to buy a portfolio of shares in managed funds, which he said would provide her with an investment return larger than the cost of borrowing the money to invest. The money would be invested in companies she knew he said. Household names. And it was.

There were two problems though, one was that the economy and investment markets had been booming for years and secondly it was mid 2007.

Why Nana is homeless

Nana’s home was worth $500,000 when she saw her Financial Planner and the bank he referred her to, lent her $400,000 (to a pensioner!), This adviser then used that $400,000 as security for a margin loan of $800,000 with another lender. Nana now has total debt and investment portfolio of $1.2Million.

When the markets crashed in 2008 her portfolio fell with it to $600,000 and she was forced to sell. As a result she had $600,000 in debt remaining, so the bank which is now owed money, takes her $500,000 home and she is left homeless with a $100,00 debt to her bank.

MathWarehouse-bar

Know your risks

All financial strategies carry risk, even leaving your money in a bank account can be risky. Before you employ any strategy, make sure you understand each and every risk you could confront before moving forward. Seek advice from a Financial Planner, if your Adviser glosses over the risks, or fails to explain them to your satisfaction, don’t sign a thing. There are lots of really wonderful Financial Planners out there who genuinely want to help you achieve the financial security you seek. Get a second opinion, if you feel that would help. A good Planner will welcome the scrutiny.

No amount of “potential” investment return is worth losing the roof over your families head.

MLM Business Plan – 1Pager


Had Enough!

Just Reached Breaking Point!

Frustrated by a lack of simple tools to help network marketers create a personalised business building strategy that is tailored to an individual’s personal strengths, passions and interests, I threw my toys out of the sandpit and created my own.

Not some business forecasting and cash flow analysis type business plan that an accountant or banker would require for a traditional business.

Just a simple 1-page action plan to help network marketers build their business, whether they’re brand new or are leaders with big businesses.

It’s really simple to do and can be easily completed over a coffee.

I’ve attached it to this post, so you can easily download it and share with your team.

*Remember, this is a starting place and can be reviewed each time the team member hits a goal or rank advances. Just complete each section, following the template below.

Section 1.

– Your company name: Self-explanatory but new people often confuse the company name with a product line you sell.

– Market segment: What does your company sell? Are you in many segments, such as healthcare, beauty and homecare products or do you have a single segment such as travel?

– Selected Product Range: Pick one range to sell first. Focusing on a single product range will make it easier for the new distributor to gain knowledge and be well equipped to handle product related questions when they arise in a presentation.

As your business grows, this person can become a mentor for other people in the group that choose this product line. Specialist knowledge builds confidence and credibility.

– What problem does this product solve? Because many network marketers don’t come from a sales or business background, they tend to focus on the features of their product or company, rather than the benefits that will be achieved if a customer uses the product.

So, instead of thinking about the all natural ingredients your weight loss product has, focus on how empowered your customer will feel when they can stand naked in front of a mirror after losing the weight they’ve struggled with for years.

Section 2. Niche:

Anyone that knows me, just assumed it would be here, right??
This is a very short and simple version of my niche finding process.

– Who has the problem, your product solves? In section one, you identified a problem that your chosen product solves. Now it’s time to find a targeted group of people to share it with.

The smaller the group, the more effectively you can market to them. Think, less is more. If you sell skin care and you approach this with a mentality that everyone has skin, you’ll make life harder for yourself than it needs to be.

– Where do these people congregate? Though most people have a Facebook or other social media account these days, it’s not always the case, and even when they do, social media might not be the optimal place to find them. Ask yourself, where is the most likely place to find people with this problem?

– Are they serious about finding a solution? Not everyone is. Some just like to whinge. I’m serious, before you spend a bucket load of time, energy and money marketing to a niche, make they actually want your solution, and ascertain whether this pain is a big enough problem to your niche, for them to invest in a solution.

Section 3. Strategy

– Focus. Biz sign ups or product sales?? Sometimes, it’s easier for new people to start by selling product and building their confidence. They also have increased credibility once their business is actually profitable. This will be your opportunity to shine as a mentor.

– Tactical solutions: Will your new person be using direct invite, personal branding, attraction marketing, or even blogging to build their business. Pick just one or two to start. Will they be a creator or curator? Keep it simple and help them score some wins before expanding into a multidisciplinary marketing platform. Small wins, will have a massive impact on retention of new distributors. Treat it like an apprenticeship and keep the workload simple in the first year with the only variable, work intensity.

Tactical Weapons: Which platforms, will be the best for your new partner? If direct text invites are his solution, is his mobile phone account set up to allow large volumes of texts? If she wants to use social media, which platform is she most comfortable with and is best for her product range and tactical solution. i.e How good is Instagram for beauty and skincare or travel?

Section 4. Success

– Income Target: How much does your new team mate, want to earn? Their goal not the one you want for them. So often, I see new people who want to add an extra $500 – $1,000 a month to their cash flow and they get firehosed back out of the business by an upline who thinks they should be pushing for $100,000 a year. Help them hit their so-called small goals, and watch their appetite for more, grow.

– What rank is required to hit that goal? Focus on the bigger number here. For example, if you believe that they’ll need 200-300 product consumers in their business to hit their income target, focus on helping them get 300.

If they hit the income target before 300, they’ll be ecstatic, but if you miss it when they’ve got 200, it’ll turn them against you and your company. Afterall, it was you who told them what they’d need to do. Expectation management is incredibly important and it’s something that the network marketing profession has been really bad at, in the past.

– What business structure is required to hit that rank? legs, biz volume, distributor sign ups. etc. make it clear for the individual.

Section 5. Winning

– Help your new person, pick a few daily activities that will help them build long-term success in your company. I’ve put 5 so you can add in some daily personal development as well. Remember, many mlm’ers are part-time volunteers poking this with a stick, so make this easy to start and don’t blow them out with an excessive workload unless they’ve got the appetite for it.

Be very specific with the activity goals so there is no confusion about what is required. A blanket phrase such as “Just invite more people” is unhelpful to anyone. Send invitation messages to 5 people every day or read 10 pages of a book, are quantifiable and gives them a starting point.

– Accountability mentor: Who will they report to and counsel with? Who is their coach? this could be their most active upline, someone they’re comfortable being coached by, or even someone external, like a business coach. Most successful people will have professional advisers of some kind, long before you showed up.

+ some of you have up lines, you don’t yet trust to treat your friends and new people with the proper respect.

I have attached my MLM 1 Page Biz Plan to this article for you to use freely in your business.

Anyway, was that helpful? Please comment below with any questions you may have.

 

The Most Hated Profession On Social Media – Network Marketing


rodney bukuya

You Are Being Watched.

Unless you’ve been living under a rock and all your social media profiles are set to private, chances are you’ve received at least one or more spam messages from a network marketer.

A message from someone you’ve never met, with Tolstoy-esque levels of information about some new company that you neither asked for, nor are interested in, with the obligatory link to a marketing video for some Miracle Cure Snake Oil and of course, it wouldn’t be MLM if it didn’t come attached to a misleading and deceptive promise of million dollar incomes for little to no effort.

And frankly. It pisses me off.

Network Marketing and it’s cousin, Direct Selling are nothing more than a licence agreement for an individual to market a range of products or services from a parent company for a small investment.

In essence, it’s home based franchising.

The cost to buy in, to this home based franchising is low. Really, really low. In some cases, it’s even free to become a distributor for some company’s. And therein lies the problem.

Anyone can become a network marketer, and while that creates a great business opportunity for anyone, it also means, the profession often attracts participants with little to zero business, marketing or sales experience.

Dumb & Dumber

Dumb & Dumber

That lack of experience is compounded when a new entrant is then being trained by a personal mentor who has a similar level of experience.

And so what does this business building brains trust come up with as a marketing strategy?

Spam.

They start spamming every single human being on planet earth that’s unfortunate enough to have a social media account. Or at least, they do until they figure out that this doesn’t work and then they quit their business and their dreams and become instantly hateful of network marketing and proclaim they will never again join an MLM and actively discourage everyone else they know from ever joining also.

Here’s the reality.

Network Marketing does work but it is one of the hardest career choices you could ever make. Especially in the early days, because of the loss of social capital you’ll lose the minute you start telling people you’ve joined an MLM.

And that’s mainly because of the lie.

You know which lie I mean. The one I mentioned earlier.

The Easy Money Lie.

Network Marketing is not easy money. To make good money in this profession can be incredibly hard.

Sure, it’s not going to war or shoveling chicken manure but when you realise that people are more afraid of public speaking than dying, the constant rejection of a sales environment can be crippling for someone that hasn’t been given enough training to get them past the initial excitement levels.

It also doesn’t help new people, when they’re told that the work is easy and money just falls from the sky.

For Network Marketing to be treated seriously as a profession, it’s participants need to stop with the bullshit and start managing income and work expectations in a reasonable way.

And that can only happen when quality training is given precedence over motivational ra-ra conferences.

Rodney Bukuya is a former Financial Planner and an outspoken crusader for better training in the Network Marketing profession. He shares 2 decades of business experience with industry participants via his facebook group and personal mentoring.

 

Social Media Strategy – Be The Guru In The Group


In order to build your network marketing business in the modern era, all the experts say you need to build a strong personal brand?

But there’s a problem. You have no funds for advertising or tech skills to build a great website or lead funnel. Worse still, you don’t even have an audience. You need to do something to get started

guruin-thegroupIt’s all well and good for experienced business coaches and cash rich up uplines, to tell you to go and invest in your self and your business, but what if you have no cashflow to get started and lack of income is the very reason you joined a network marketing company to begin with?

My Guru in the Group strategy is something I happened to come across back when I was still a financial planner.

Here’s how it works.

No matter, how old you are, or what you’ve been doing with your life, there is something that you know a lot about. Now, You don’t have to be the worlds most recognised person in the world for that skill or talent, you just need to have some knowledge that could be valuable to someone.

What you’re going to do with this strategy, is take that knowledge and use it to help people in a social media group. It doesn’t matter if it’s facebook or LinkedIn, just use whichever platform, you’re most comfortable using. Because you’re going to be there a lot.

This strategy is about engaging on a very deep level, not posting content far and wide.

Once you have identified a skill or talent that you have, now find a group that could get value from your talent.

For example, if you’re a young mum in a health and wellness MLM and you have a great deal of knowledge about fitness, perhaps you could join a local mothers FB group. If you’re a book keeper by trade, you might join a group of small business entrepreneurs.

Personally, I’m in a travel based MLM and I happen to have lots of knowledge and experience in lead generation and building client bases, so i connect with other network marketers and look for creative ways, I can use my skills, to help them achieve success in their own business.

You don’t need to start your own group. If you have a pool of knowledge that you can openly share regularly and without expectation of return, it will come back to you. You don’t have to write great big theses to impress anyone.

Just answer other peoples questions, engage positively and be generally helpful. If someone asks a question that Google could have solved, don’t be a jerk and tell them to google it. Go get the answer for them. They’ll be grateful you did, and it increases their opinion of your knowledge, thereby growing your brand power.

The greatest part of this strategy is that, the business that comes back to you occurs much easier, because it’s usually been referred by another group member.

I was a Financial Planner and discovered this strategy because there was a small business group that I used to engage in every day. Not just “like” other posts but ask questions and openly provide solutions where I could.

It became a natural consequence of this engagement that whenever another group member asked a question relating to a field that I was recognised for, everyone automatically tagged me in, or recommended they contact me.

I got millions of dollars in business from that group and still get asked for advice to this very day, even though, i haven’t been licenced to do so for 3 years.

So give it a go. Find an active group of people, that you’d enjoy helping and start looking for ways to add value to their lives, and all without needing to constantly be pitching your business.

I hope this is valuable for you. Please say hi in the comments, and share this post with your team mates that want to build a big business but don’t have the cash to invest in ads or other marketing tools.

 

SPAM – Is Your Upline Breaking The Law?


Using social media inappropriately, is not only bad business practice but it could also cost you and your company a lot of money.

rodney bukuya, world ventures, dreamtrips, rovia

Should we start reporting spammers ourselves?

It’s Monday, so you know what that means, right?

Yep, your email and social media messenger boxes are about to filled with MLM Spam.

It happens every week, a plethora of your social media friends attended their Network Marketing company’s training conference this weekend and they’re excitement and vigor has been renewed and so that means you’re going to get a number of people either trying the old curiosity approach and inviting you to a coffee to discuss a business idea but won’t tell you anything about it.

Or, you’re going to receive a clearly cut and pasted message, long enough to be a thesis, telling you about this great new ground floor company your friend is bringing to your area.

But don’t blame your friend. They’re just excited about their business and in that excitement, received some really bad advice from the people who should know better, their leaders and mentors. Their upline.

You see, I’ve been in a network marketing conference before when a highly respected and loved leader said “On average, we all have 140 facebook friends, just send a message to all of them”.

I’ve even been in a conference where a similarly loved leader told everyone to pull out their phones and quoted a text message for all attendees to type out, and then send to everyone on their phone list.

I’m sure the phone company was happy with the amount of data that emanated from that arena, but i doubt whether anyone receiving that message was impressed.

You see, Spam is Illegal. Sending Spam could attract massive fines for you and your company.

The Spam Act 2003

Yep, that’s right, here in Australia, we even have a law to protect people from being badgered by overly enthusiastic sales people of all ilks.

But what is spam?

The Spam Act 2003, explicitly prohibits sending any unsolicited of a commercial nature.

What qualifies as commercial intent?

What qualifies as commercial intent?

Just in case you think, that spam is a petty matter, not worth worrying about, consider this.

The maximum fine for a person or company sending 2 or more unsolicited commercial messages in any given day is $1,800,000. That’s right $1.8 Million dollars.

That’s a lot of money and/or jail time for a business that most people build as a side gig.

Social Media is a great place to build your Network Marketing business, but be smart. Build relationships with people and learn to pre-qualify your prospects, just like any other good sales person does.

Blatant Plug: If you need help, learning how to build your business properly and you’re sick of bugging friends and family, just ask. I love helping other network marketers, sell more stuff, make more money and have more fun, because isn’t that why we’re all doing this?

Rodney Bukuya is The Super Guy and a proud MLM Dad.

Rodney Bukuya is The Super Guy and a proud MLM Dad.

Recommendation For Rodney Bukuya


untitled-design-2To Whom It May Concern

In my capacity as a mindset coach and personal development consultant, I have known Rodney Bukuya for a number of years and that relationship has allowed me to be able to wholeheartedly recommend him in number of areas.

Firstly, Rodney has a keen, almost innate sense of the selling process that goes beyond conventional sales training methods.  He knows how to engage people of all levels and really get inside their heads. And because of that, he has many followers on social media and is widely regarded and respected.

In his dealings with people, he demonstrates professionalism and yet brings with it with a relaxed air of grace, charm and genuine caring for others. Rodney never fails to lend a helping hand and goes out of his way to bring clarity and direction to others.  In these situations his leadership and training skills are very obvious.

Never short of creative ideas, Rodney focuses on solutions where others focus on problems. His sharp intellect and wit is an asset to any situation as I’m sure they would be to any sales or training organisation looking for a valuable employee.

I would highly recommend Rodney Bukuya for any sales, training or leadership role. Please feel free to call me for clarification.

Yours sincerely

Madonna Robinson - Mindset Coach.

Madonna Robinson – Mindset Coach.

Madonna Robinson

www.madonnarobinson.com

My 4 Step Social Media Strategy For Network Marketers


 

This business doesn't need to be as stressful as some people make it.

This business doesn’t need to be as stressful as some people make it.

Sometimes, it just seems like there’s so much to do.

Before you even start thinking about your business, there’s your regular career, your family needs and somewhere in there, you may need a shower and to put on some pants.

I used to write these big To Do lists of things, I needed to do each day to move my business forward and it would sometimes get so overwhelming that I’d bin the whole lot completely.

Sometimes it would knock me so far off track that I often used to wonder if I was coming back. I love Network Marketing and I love using social media to help me build my business, but I needed to find a way to do it all that fitted in with my life.

Here’s a way I discovered that helps me structure my day.

Educate

It’s a requirement of success of the modern age, that we be constantly feeding our brain. This might be formal education, or more informal lessons, we might find in a book, an audio, or on the internet.

In order to ensure that I was always getting my education, I moved it to priority number 1 and spend at least an hour each morning, usually before I get out of bed, reading blogs, business publications and watching YouTube videos around the themes that are relevant to my niche.

Curate

The daily routine of self education, usually results in me finding interesting lessons that I can share in my Facebook group, on my page, or profile, or it may have value on one or more of my other social media profiles.

There is no requirement to be the font of all knowledge, in order to be successful, you merely need to add more value to the lives of the niche you’ve chosen to serve.

Video’s, blog posts, memes, news articles. All could be valuable, if they fit your niche.

Create

I love blogging, and making videos but the reality is, is that I find it hard to be consistent with these. Sometimes, I just don’t feel passionately enough about anything on any given day to create something new.

On the days I do, it’s electrifying to birth a new mini-project onto a suitable platform.

On the other days, I’ve found I can add just as much value by creating a meme or pic, with software such as Canva or PicMonkey. Creating value for your niche, doesn’t always have to be written or highly choreographed. It just needs to be valuable.

Penetrate

In my opinion, this is the most important of all the 4 steps.

Penetrate, is about going deep on your relationship building and can be everything from, holding a skype or zoom meeting. It might be meeting a friend for a coffee. It might be showing a new prospect through your product range. It might even be as simple as thanking everyone for liking your posts.

The great thing about the Penetrate step is you can fit it into your day. No matter how much time you have or don’t have, you can always find a way to build stronger relationships with people in your tribe, whether they’re in your business or not.

I do mine, most of the day, and then stop when my kids get home from school and start again when they go to bed.

Summary

Social Media, is a great tool for us network marketers, but the strength is in the Depth of the relationships we build not the number of people we spam our opportunity link to.

If this has been helpful to you please consider sharing with your team and subscribing to my blog.

And remember, if you’re looking for help to build your business, just reach out.

The Top 11 Reasons Why You Should NOT Join A Network Marketing Company


Rodney Bukuya

Success in Network Marketing takes work. A lot of work.

They’re everywhere.

Every time you open one of your social media accounts, you’re either getting spammed on your news feed, or you’re getting a cut and copied spam invite to look at one of your friend’s new business opportunities.

Or worse. As soon as you accept some random friend request, you immediately get a War and Peace length direct message telling you how XYZ company is going to change the world and you should jump in while it’s still a “Ground Floor Opportunity”.

You see, Network Marketing or Multi-Level Marketing as it’s also known is sexy again.

Low job security, high career frustration, career burnout, stress, poor health, high debt, poor work life balance. You name it, the reasons for people joining network marketing companies are myriad.

You might even be thinking about joining one yourself.

Here’s 11 reasons, you shouldn’t.

11 – It doesn’t work

Ignoring the fact that $244USD Million is paid out in commissions every day, No matter where you go and who you associate with, everyone has a network marketing story. They joined and didn’t make any money or they know someone who had this experience. In fact, you only need to Google MLM Scam and you’ll literally find millions of listings to justify this view point.

10 – Pyramid Schemes Are Illegal/Immoral

Just like Ponzi schemes, Pyramid schemes are justifiably illegal. However, Network Marketing as a distribution system for goods and services was found to be legitimate in the FTC vs Amway case in 1979.

Unfortunately,some Pyramid and Ponzi schemes still often pass themselves off as genuine MLM companies which only further damages the industries reputation.

9 – Network Marketers Are Just In It For The Money

It’s true, many people join network marketing companies to improve their financial situation and are often from employee backgrounds where income is decided by someone who has no interest in seeing that person succeed financially.

So, it’s no surprise that when given control of their own financial destiny, MLM’ers become excited and animated.

If you’re a person that believes money is the root of all evil, or that having surplus wealth can do no good, then Network Marketing, isn’t for you. You should probably quit your job or turn down future salary increases also.

8 – No Time

Work commitments, commuting, family time, hobbies, favourite TV shows and sport, there are already a multitude of organisations and people with their hands in your spare time wallet, starting a new business would mean an even bigger bite out of your “me” time.

It’ll take at least 10-20 hours per week to build a network marketing business. Some people are better off getting a second job.

7 – Impatience

It takes a long time to build a successful business in the network marketing industry. If you’re impatient and can’t take a 2 -5 year view, then this industry is definitely not for you. Buying lottery tickets is heaps easier. At least you get an instant result, right?

6 – New Skills

You’ve been busily working away in your career for 10 years or more, and now someone tells you, that you need to go to conferences and do some study to learn the skills to become successful in Network Marketing.

And not only that, they want you to pay for it, yourself.

If you believe that your career will not be affected by automation, robots or international outsourcing, then why bother?

5 – No Man Is An Island

In order to build a large network marketing business, you will need to help train and support a large number of people. If helping people is not your thing, then you would definitely struggle.

Team members would be calling, emailing or messaging you at all hours of the day, and let’s face it. That’s not convenient. At least, at your job, you get time off. Your boss and/or customers don’t call you after work or when you’re on holidays, why would you want anyone else to?

4 – People Suck

People smell, won’t do as you tell them to and let’s face it, a lot of work.

If you don’t like talking to, and hanging out with other humans then, you probably won’t be able to build a business in an industry that is heavily human and relationship focused.

3 – I Can’t Do It.

Whether you call it a closed mindset, or a “glass half empty” mentality, if you can’t believe in yourself, a company or the entire industry itself, if you don’t believe that building a six or seven figure income in network marketing can be done, you won’t. You just won’t.

2 – I’m Too Lazy

Firstly, if you can admit that to yourself or publicly, then congratulations, many lazy people don’t or can’t.

Not only does it take time and patience to build an MLM business, it’s hard bloody work.

You have to learn new stuff, act on those new skills, teach them to others, try new things, get outside of your comfort zone. A LOT. and you have to do it over and over and over again, sometimes for years and years.

If you can’t see past that, to gain the rewards that the MLM industry offers, then you should most definitely stay away.  Your job is probably easier and you don’t even have to perform there. So long as you’re above the bottom 20% of performers, you’ll always have a job, right?

1 – What Will People Think?

This is at number one for a reason.

Not only does it affect prospective Networkers but also existing distributors. If you are worried about the opinions of others, more than you are, reaching your own life and lifestyle goals then you should run away from network marketing as fast as your feet and mouse can carry you.

The minute people find out you are in Network Marketing, you will have an immediate loss of social capital. People you’ve always loved and with whom you’ve shared many of your life’s greatest moments will stop taking your calls and may even go so far as to unfriend you from facebook.

In fact, if you have a friend that keeps asking you for money or favours, tell them you’ve joined a network marketing company and can’t wait to tell them all about it. The calls will stop almost immediately.

Call To Arms

There’s one glaring group of people I’ve deliberately left out of this list.

Those are the people, who have complete time and income flexibility in their already successful businesses. Many of these people are digital entrepreneurs who travel the globe doing business from their phones or laptops.

Many have employed great time management, marketing, recruitment, client relationship and delegation policies into traditional offline businesses.

To all these people, I have a simple request.

“Come Join Us. We Need Your Skills”

Entrepreneurs that are free of financial and time constraints are people, the network marketing industry need more of.

We can learn from you and if you are able to embrace the ideals that we stand for, you will be handsomely rewarded. Personally, I’d love to have more digital nomads in my business as distributors or customers. I’ve already learned so much from many of you already and I’d love you to share your wealth of knowledge with the millions of people worldwide who currently have no knowledge of the things you do and so become MLM Spammers.

Summary

Network Marketing can be very hard if you struggle with any of the 11 things listed in this article but if you’re willing to get uncomfortable and take some guidance, it can change your family’s future. Forever.

If you’ve been considering exploring Network Marketing as a new career choice and you don’t know where to start, or you’re already in the industry and need new direction and motivation, feel free to connect with me. I’d love to help you.

 

 

Baiting The Honeypot. Using Human Desire To Build Your Network Marketing Business.


When fishing, use the right bait.

When fishing, use the right bait.

One of the team building strategies I love is, amazingly, one that I haven’t seen other Network Marketing coaches talk about. They probably have, but I just haven’t seen it.

This strategy is really effective when your niche is very well defined and you know exactly who you want to serve.

I call it, Baiting the Honeypot!

One of the things I love about the Network Marketing industry, is that we’re not restricted by many of the normal conventions that most business owners have to worry about regarding recruitment.

Most particularly, you can recruit, or not recruit anyone you feel compelled to.

Marital status, sex, sexuality, age, religion, politics etc. etc. If you have a bent to assist or exclude any one group you can, within our industry. No other industry can benefit from niching like we can.

Implementing

So here’s how it works:

Instead of focusing directly on the people you want to attract, you personally sponsor the people that your niche wants to associate with.

For example, If your niche is Christian women with families who are regular church goers and active in their churches, you might target Pastors in your local area.

The Pastors opinion, is valuable to your target market, and so you speaking through him, can have great impact.

From the Pastors point of view, he might be interested in getting involved to help raise much needed funds for the activities his church contributes to.

Or here’s another one, if your product, is weight loss, signing up PT’s will help you access customers who are actively trying to lose weight.

On a personal level, one of my niches is stressed out, white collar men aged 30-50 with young families, and my network marketing business sells memberships to a VIP holiday club.

So, one of my current recruitment tactics is targeting younger, fit looking ladies. Ladies you’d want to meet on a beach wearing a bikini.

These “Pretty Young Things” as my business coach calls them, are very attractive to my target niche and so it increases their chances of getting an appointment with them, when they call. Even if it’s cold market.

Who is your target niche? Who or What is attractive to them?

If your niche is mums with kids and you sell energy supplements, why not sponsor some of the local sports coaches and attract, the coaches teams and their mums?

Your marketing gets more streamlined and more efficient when you know who your niche is.

If you need help working out your niche, send me message and connect with me on facebook.

Was this helpful? Let me know in the comments below.

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