How To Pick A Company (Pillar 4)

Do YOU want to make money in MLM? Great. Pillar 4 is a compensation plan where everyone can get a check.

In previous posts, I've stated a few compensation plans that work well with certain colors, and certain compensation "killers" for the colors. Since I've already talked about that stuff, let's move onto another aspect.

In Corporate America, you know exactly how much you're going to make (or at least what you have to do to make a certain amount). When most people join an MLM, no one even bothers explaining the compensation plan to them. It's true! They have NO idea what they have to do to make their financial goals. They just keep recruiting and selling and hope to make enough money.

Okay guys, that's a bad idea. Don't do that. Listen, I don't care what they call the compensation plan, whether it's a forced matrix, a binary, trinary, hybrid, stairstep breakaway, whatever. Here's exactly what I want to know: How many people do I need in my business and average volume to make how much I want to make?

There are actually pay plans out there where you need TEN THOUSAND people to make ten thousand dollars. Crazy, isn't it? They're fairly well known, as well.

This is important guys. Make sure you know exactly how you're going to get paid before jumping into the opportunity.

Shane Enochs
ShaneEnochs@gmail.com
Mentoring For Free

How To Pick A Company (Pillar 3)

The company has to have a great product. Pillar 2 kind of speaks to this, as well.

A lot of people choose their company completely based on the product. We wouldn't of course. We know there are other things to look for, but the product still has to be great.

A lot of people say, "well, I wouldn't sell a product that I don't like". Well... I don't know about you other guys out there, but I don't take women multivitamins, but a lot of women do. I don't need anything to keep my blood sugar up/down, but diabetics do.

Listen, go down the street. Go ahead. I'll wait. See all those people lined up? Find out what they're lined up for, and sell THAT. Who cares what you like? You've gotta sell what other people like.

Make sure the product has a competitive price, as well. No one wants to buy an $8 bar of soap.

Shane Enochs
ShaneEnochs@gmail.com
Mentoring For Free

How To Pick A Company (Pillar 2)

Whoa, sorry guys. I've been gone for a little while. Been kinda busy. Anyway, let's get started.

Pillar 2 is Timing in the Industry and in the Company.

Okay, okay. Your MLM company has been around for like a thousand years and is doing GREAT! Well, nifty! Obviously your company has some great products and compensation plan. So what is it?

WHAT?!

8-track tape players? Goodness, how do you manage to sell them? Oh, that's right. You don't. Your company no longer has an outside market for what it's selling, so it's business is now soley based on recruiting. You recruit, the recruit buys the product (probably month after month), and you get a commission.

If this sounds like the company you're in, I'd hightail it out of there, friend. You're not going to be doing any good in it, and if you are, then shame on you for making a downline of people who aren't.

A business usually has it's "boom" stage between three (we want to make sure it has staying power, right?) and fifteen years old. If you can find a company between these two numbers, you're gold... unless they're the ones selling the 8-track players, of course.

Shane Enochs
ShaneEnochs@gmail.com
Mentoring For Free

How To Pick A Company (Pillar 1)

Hi World!

One of the most important decisions that you'll make on your journey to achieving financial freedom is choosing a company. In previous posts, I've listed which compensation plans work well with the different colors. Unfortunately, the compensation plan is just one of the five pillars that you need to look for in a company.

Pillar 1 is Company Management Experience and Integrity.

What does this mean?

First of all, you may want to check out your company's Policies and Procedures. A lot of these companies have a P and P that's twenty, thirty, fifty, and even ninety pages long. Why are they so long?

So that you won't read them.

You should read them though. A lot of companies will have a clause in there stating that they can terminate you with or without reason. This means that they can just decide to stop paying you one day.

I'd suggest you read your Policies and Procedures backwards, since most of the really bad stuff is at the end. My company's P and P, however, is a total of three pages long, and there's no legal jargon to be found.

That covers the integrity part. Now let's move on to management experience.

A lot of MLM company CEOs can't even spell MLM, and are definitely not in the business to pay large sums of money to the distributors. They were never distributors, and have absolutely no idea about distributing. All they care about is moving their products.

If you don't have at least this pillar, then there's no reason to look for pillar 2, 3, 4, or 5.

To your success,

Shane Enochs
ShaneEnochs@gmail.com
Mentoring For Free

Working From Home

I got an email a couple of minutes ago asking what exactly my site was about. I guess I should have probably clarified that in my first post.

This blog is my way of giving back to Network Marketing.

Okay, right now you're probably asking, "Awesome! So what is Network Marketing anyway?"

I'll save myself a lot of typing and simply copy-and-paste the Wikipedia definition.

"MLM), also known as Network Marketing, is a business-distribution model that allows a parent company to market its products directly to consumers by means of relationship referrals and direct selling.

Independent, unsalaried salespeople of multi-level marketing, referred to as distributors (or associates, independent business owners, franchise owners, sales consultants, consultants, independent agents, etc.), represent the parent company and are awarded a commission based upon the volume of product sold through each of their independent businesses (organizations).

Independent distributors develop their organizations by either building an active customer base, who buy direct from the parent company, or by recruiting a downline of independent distributors who also build a customer base, thereby expanding the overall organization. Additionally, distributors can also earn a profit by retailing products they purchased from the parent company at wholesale price."

That's a pretty cut and dry definition. Network marketing is about PEOPLE. It's a people business. It's that simple. In network marketing, we meet people who are either interested in a product that we offer, or interested in working from home (which is why I joined).

Now, if you google network marketing, you'll probably find SOMETHING about the dreaded

PYRAMID SCHEME!!!

I can teach you a very simple method of discovering if you're in a pyramid scheme or not. This actually came from the district attorney in Florida.

1. Would a logical thinking person spend this amount of money on this PRODUCT or SERVICE if there was NOT a business opportunity attached to it?

and

2. Does the income stop when the recruiting stops?

If the answer is yes to EITHER of these questions, chances are you are in an illegal pyramid scheme. Get out, quick.

As for me, however, I am in a legal Multi-Level Marketing company. I make money from people I sponsor as well as from people buying the products.

It's a very lucrative business, but before jumping into any old one, it's important to educate yourself. Here's a site where you can download a free e-book that will help you on your journey. You will also receive FREE (absolutely free, no strings attached) coaching on how to build your business, and how to build it big: Mentoring For Free

As always, to your success,

Shane Enochs
ShaneEnochs@gmail.com
Mentoring For Free

Color To Success (Red)

Reds make up 15% of the population. They are money-motivated and money-focused. Don't even bother talking to them about your family or your vacation. They don't care, and they don't want to talk about it.

They want to talk about the MONEY.

Reds are the CEOs of Corporate America. Your boss at work is likely to be a red.

Reds do well in a stair step breakaway compensation plan because they think network marketing is a sales business. For them it's sell, sell, sell. In a stair step plan, they can put five people on their front line, and if only one produces, they never go back and put somebody underneath them. They're just looking for producers. Somebody who will build and build.

The reds know that once that first productive person in the first group of five hits the $50,001 volume, they'll break away. And the reds override drops from 15% to 5% because the other 10% goes to the person who built it.

That's fine. Reds understand their job is to find another red and keep getting those 5% retentions. For them, it's a sales business.

Reds are the get-the-job-done people. They're the ones everyone in network marketing is looking for. Right? Well, reds only make up 15% of the population, and they are absolutely not coachable. They have the biggest egos. They order people around. This works in corporate America, but not in network marketing.

When a red demands that people get on conference calls, he drives his people away.

You do want to sponsor reds, though, because they're well connected. They'll put you in contact with business owners, governors, leaders, etc.

So target reds, but don't dare think that you're going to mentor or tell them what to do. Let them do it themselves. You really have no choice, anyway.

Well, this concludes my Color To Success series. Next up with be "How To Pick A Company".

Credit goes to Michael Dlouhy. Most of this came out of his book Success In 10 Steps.

To your success,

Shane Enochs
ShaneEnochs@gmail.com
Mentoring For Free

Color To Success (Green)

Greens make up 35% of the population. They're the analytical people. They analyze everything to death. They will pass up millions of dollars worth of opportunities because they analyzed it too long.

Greens work well in any type of complicated compensation plan. They like to figure out the Super Star Space Commander Diamond Leader bonus that's paid out to the third, ninth, and fifteenth levels. They LOVE it.

Greens believe they're the smartest people on the planet. You'll know you're talking to a green within three minutes of the conversation because they want ALL the details. I do mean ALL the details.

Don't try to sell them. You're not going to be able to. They have to sell themselves. They'll go to the web site. They'll listen to the conference calls. Then they'll go to the next website and the next link. If you have fifty links on your website, they'll go to every one of them. They'll read all the testimonials, all the articles, etc.

Speak clearly for the green. Enunciate your words. Don't speak too fast. Don't speak too slow. Be upfront. Give them information. Give them all the information. Answer all their questions. Give them more websites to go to.

If you call in the meantime to answer questions, they'll be abrupt. They see that as you being pushy. Let greens analyze the information at their own pace.

In a week (or two or five), they'll call you back for more information or ready to start. They've sold themselves; decided this is the perfect business.

Good job on sponsoring the green.

Credit goes to Michael Dlouhy. Most of this came out of his book Success In 10 Steps.

To your success,

Shane Enochs
ShaneEnochs@gmail.com
Mentoring For Free