Archive for November, 2013

Back to the Cold Market

Considering the number of Network Marketers around the world who read this page, it seems strange to be writing what amounts to a personal email. But that’s what it is – and it has to be an email not a phone call, because I have just received a message saying: “Don’t waste your time on me. I’ll call you.”

Here is somebody in deep trouble with his MLM business. It’s a tragedy: We both had such high hopes for him when he started. He had all the credentials. He was intelligent, he was hard-working, he was motivated. Most importantly he “got” the concept of Network Marketing.

Looking back at his first email it turns out that originally he heard about the industry two years ago – but in those days he was making good money trading the markets online. However, with time things changed and he needed something else. And as so often happens when you’re looking,  someone found him – and this time was the right time.

But the company wasn’t right. In fact Frank (we’ll call him Frank) looked at four different Network Marketing companies before he found the one for him. He was excited. He was impatient to get started and he understood perfectly that if you want to build a long-term residual income rather than have a sudden explosion of cash for a year or two and then nothing at all down the line, it is probably best to do it the old-fashioned way and talk to people.

There are plenty of MLM-ers out there who do very well building their businesses online but there’s nothing that cements relationships like sitting in somebody’s kitchen, drinking their tea and showing that you can enrich their lives for the rest of their lives.

Frank understood this – and he raced off to go and enrich the lives of his father, his brother, his sister, his best friend, his neighbor…

His father signed up. His brother would have signed up but didn’t. His sister wanted to wait and sign up after she saw how he got on it it and his friend… well his friend turned out to be not such a friend…

Please understand that I didn’t know this was going to happen – and I could hardly load Frank down with too many dire warnings. After all, the company training is geared exclusively to the concept of “start with your warm list”.

But I did say: “Now, either your family will join or they won’t  – you won’t know until you ask them…”

Of course, if he had come from a recent immigrant community, all his family would have joined. They would have said “yes” out of basic family loyalty. It fits in with the idea of “sticking together”.

But if your family has lived in the country for generations and you suddenly announce yourself as an entrepreneur and an expert in your chosen field, they may feel entitled to be a little skeptical (that’s if they don’t roar with laughter and start off on: “Got your own business? Who d’you think you are? Richard Branson? Suppose you’ll be buying a Rolls Royce next…”

And this, of course, is where the Cold Market comes in. This is why I started the Cold Market Academy and wrote the ebook. The Cold Market doesn’t have an agenda. It doesn’t care how much you don’ t know (in fact it doesn’t know how much you don’t know). The Cold Market is forgiving and it is limitless – yes it is: By the time you have talked to every person in the country, a whole lot more will have reached the age of 18.

So I have suggested that Frank should forget all about his warm market … his precious list, his supposed friends … and start with people he’s never met before. I’ve sent him a copy of the ebook and the webinar as well (with instructions to fast-forward through the boring bits to the videos).

The question is, will he do it? After all that rejection from the people who should have joined, will he have the resilience to face the inevitable rejection from most of the people he doesn’t know?

Because that’s what Network Marketing in the Cold Market is all about – ignoring rejection, shrugging it off like any other minor inconvenience. Rejection from people you don’t know is no harder to bear than the first snow of winter or a traffic light turning red just as you reach it. It’s inevitable. In fact it is exactly what you should expect.

Now compare that to you Mom saying “No”.

And after reading Frank’s email and fighting off the urge to ring him anyway, I just felt I had to go out and do exactly what what I was suggesting he should do – because, you see, now I’ve learned to gather ten referrals from every customer, I don’t need to go out into the street and talk to people anymore.

But that’s where Frank has to start – and if I was going to ask him to do it, then I had to do it myself.

So yesterday I did it. This was Friday. Friday is clarinet lesson day. All I did was go into Ipswich an hour early, buy two shirts and do half an hour of prize draw in the street. You can see what happened in the chart below. I’m pleased to say it still works – and I have no doubt at all it will work for Frank.

Venue

Time

Minutes

Asked

Appointment?

Callback?

Ipswich  15/11/13

1232 – 1243

11

52

1

1243 – 1253

10

18

1

1253 – 1303

10

41

Total

31

111

2

When you know Network Marketing works…

There are some moments when you know this Network Marketing business is working the way it’s supposed to:

I just opened an email from this morning’s customer. She had taken everything I had to offer and gave me twelve referrals (she was, of course, a referral herself which is why she was so happy to keep the chain unbroken).

Here’s what she wrote:

“I am adding some extra info re the list of people below. I will contact most of them during the next few days – probably after the weekend. Incidentally Nick has not been in touch; I am dropping him a note tonight saying thank you for giving you my name.”

And do you suppose that the twelve people she has recommended are going to be just as helpful? They’re her friends after all…

On Vacation

RockerfellerWe’re just back from a fabulous half-term vacation in New York. We went up the Rockerfeller Centre and down the Subway and round the Statue of Liberty. We ate Pizzas in Grimaldis and stacked burgers at The Counter in Times Square. We saw “Matilda” on Broadway and Ice Hockey at Newark’s Prudential Center. We did so much shopping that two days running, Visa shut down our credit cards because of “abnormal activity”.

And what with the somewhat intermittent wi-fi connectivity in the old wooden New Jersey house we rented for the week, I rather left my business to look after itself.

This is what I find fascinating: When we left a week ago I was studiously ignoring the fact that I had missed my deadline of getting to 10,000 customers by October 20th.

Now I know there are some Network Marketing companies where 10,000 customers is nothing. People get 10,000 in the first three weeks – hey, they get 10,000 distributors in the first three weeks. But trust me, in my company it’s a big deal. On average each customer spends $1,900 a year. That’s a $19million-a-year turnover. This is big-league stuff!

In fact, on the 19th I was still 220 short at 9780. It just wasn’t going to happen. Never mind, there was no point fretting about it. Enjoy the vacation…

We left a week later, on the 26th and I stopped looking at the numbers altogether.

Now, here’s the interesting part: I returned on November 3rd, switched on the computer and found that not only had I smashed through the 10,000 barrier without knowing it but I was already up to 10,050!

In other words, it had taken just 15 days for my business to grow by 270 customers all by itself.

Of course I shouldn’t be surprised: They told me this would happen. Because, you see, there tends to be two kinds of Network Marketing businesses: There is the slow, sustainable type and there is the get-rich-quick-burn-out-and-then-go-find-another-one type.

You can make a lot of money fast in the second but it’s like having a traditional business. You keep working because when your company runs out of steam, you have to take your team off to another one and build that.

Sure, it’s better than having a job and you can invest your wealth instead of taking expensive vacations. But the business itself will not keep you in the lifestyle to which you would like to become accustomed – and, come to that, your children as well…and your children’s children for generations to come. The first type will.

But if you joined the first type and you are still in your first few years and wondering if your business is ever going to take off, I know exactly how you feel. The early years can be hard. But those are the years when you make your money – you just don’t see it yet, that’s all.

So how do you stick it out – how do you keep on working when all you seem to be getting is promises? For me the answer was to sit up late at night listening to one of my mentors – a distributor called Gary.

Let me tell you about Gary: He’s a big, bluff type – a tattoo-covered thug, as he once described himself – and on this recording he told his story. Here’s how it happened: Gary had complained to his mentor that it wasn’t going fast enough. His mentor told him not to worry because one day his business would grow more in one month than it had in the whole of the first year.

Gary took a decision to believe what he was being told – he didn’t have any evidence to support it. He just decided to believe it – and in my turn, I took a decision to do what Gary had done.

Well, this is my story: At the end of my first year I had 159 customers. Now it has grown by 270 in 15 days. That is what Gary called “going ballistic”.

But what I find really exciting is what comes next: If it has taken me eight years and seven months to get to 10,050 – and 2466 (about 25%) of those have been in the last year, then what we are looking at is exponential growth in action. In which case how long will it take to get to 20,000…50,000…100,000…

With all of them spending an average $1,900 a year, imagine what the monthly commission will be like?

In fact, what do you suppose the credit card company will say when we have that kind of income to play with…

 

What’s it all about?

This is the diary of a successful Multi-Level Marketer making money from home and fitting a part-time business into a busy life.
Over the years it has developed but the objective remains the same: To demonstrate how anyone can build a successful network marketing business in "the nooks and crannies of the day".
Eventually this spawned a training programme which I called The Cold Market Academy. This began as a seminar available only to MLM-ers working with my company. Then it went online as an e-learning course.
Now it is a book available through Amazon: MLM, Network Marketing and the Secret of the Free Prize Draw (you can see more about this on the "MLM Prize Draw" tab above.)
But at the heart of the Network Marketing Blog is the answer to the two most common questions people ask when they look at this business - and the two biggest challenges they face when they start:
1. I'm not a salesperson.
2. I don't have the time.
These are genuine concerns and all too often they get brushed aside: "Don't worry about that. We'll show you how..."
This blog is designed to show how it works in reality and in real time - how anyone, no matter how busy, can work their business consistently in small fragments of time. Because that's all you need; just a few seconds to find out if someone's interested.
And please bear in mind the entries here are only a tiny snapshot of the daily activity. Most of what goes on would make very dull reading indeed: Making calls from the list ... adding names to the list...making calls from the list...
As for being a salesperson: Have a look and decide for yourself.
Is it sales?
Let's say you call on a friend unexpectedly and find them up to their ankles in water and battling with a burst pipe.
Imagine it: There they are, soaked to the skin, trying to wrap a towel round the leak while they shout: "I rang the plumber but all I get is the Ansaphone..."
Honestly now, would you ignore their plight or would you volunteer the number of your own plumber.
Would you do what you could to help them or would you consider that going into "sales" on behalf of the plumber would be beneath you?
And what would your friend say when they realised you had deliberately chosen to leave them struggling to stem the flow and all because you felt embarrassed about "selling" something.
Network marketing is all about spreading good news and it's all about helping people.

If you're thinking of getting into Network Marketing - or already in it but not making enough money - contact me at info@networkmarketingblog.org.uk

About Me

John Passmore,
United Kingdom.

For 25 years I was a newspaper reporter - ending up as Chief Correspondent for the London Evening Standard. Then I gave it all up and, with my wife, set out to live the simple life on a small boat while writing a column for the Daily Telegraph. Five years and two children later we moved ashore - and five years and another two children after that I ran out of money. Nobody wanted to give me a job and I couldn't afford to start a conventional business. Then at a craft fair in our local community hall, somebody showed me network marketing. It was described as a home-based business that would provide anyone with a second income if they were prepared to work for it. I was sceptical. There were claims of high earnings and something called a "residual income". But what if it did work? And besides what alternative did I have? So I threw myself into it wholeheartedly (which is the only way to succeed at anything). I'm not saying it was easy or there were never moments of doubt but if you're prepared to learn and determined never to give up, then there is a statistical certainty that you will make money. I started in April 2005. I was broke and embarrassed. Today I have no money worries whatsoever.