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Building real residual income: The magic of network marketing

I was reading Chapter 19- The magic of network marketing: Building real residual income by Barry Friedman in the book the ultimate guide to network marketing.

He shares in this chapter the same concepts that we share in the mentoring for free.

He explains how the residual income can be so significant and not well appreciated.
Obviously, it is better to make $10,000/month forever than making $50,000/month for 3 months.

That’s one of the reason I got angry and left orenda international because of their front overloading system and the multiple breakaways in their compensation plans. Obviously, I did not understand these concepts initially until I got a slap in the face when I noticed that they stopped paying me as soon as I stopped working. Breakaways broke my heart , I recovered though, lol. I am mainly interested in recurring income.

Barry Friedman recommends that you explain this concept to your prospects so they can see beyond the immediate cash money.

He gives an example:

If you worked hard in your business for couple of years and you were able to make $3000 residual income, then it is equivalent to 3% interest rate on $1,000,000. Congratulations you are officially making like a millionaire!

Actually, in my own company presentation we use this concept to explain the benefits of multi-level marketing and the recuring income. You may want to add this concept to your company presentation. It will help your prospects to see beyond their noses.

It seems that Barry Friedman is Big Al student, these are the principles taught by Big Al to the industry.

In order for you to get a real residual income, you product should fulfill these criteria:

• High demand
• Great value
• Limited competition
• Affordable pricing
• Continuous need
• Ready availability
• Geographical availability
• Products or services backed by a guarantee or warranty

He discusses in this chapter more concepts that I will share with you in future posts.
Keep posted.

Dr. Nabil
Mentor With a servant’s heart
Is you MLM sick? Contact the MLM doctor

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MLM prospecting: setting appointments with doctors

MLM prospecting: I had a question recently from one of my subscribers asking me what is the best way to get an appointment with a doctor (myself being one).

Obviously this lady is in a nutritional network marketing company and is trying to introduce her products to health care professionals.

Doctors are like any other prospects but they are difficult to reach because they are busy.

1-If the doctor is a recently graduated doctor and open minded, then it is easy to set an appointment with: no problem in this case.

2-If the doctor has been practicing for more than couple of years and he is still not using nutritional products then he is a closed minded doctor and trying to prospect this doctor is not worth your time and effort: In this case my advice, leave him alone and find another prospect.

3-Most alternative doctors attend seminars regularly where they get exposed to every type of supplements on earth and they are not interested to listen to you: forget about them also.

4-The best way to get a doctor convinced it to show him PROOF! Find one of his patients that is not getting better, offer this patient your nutritional products and if they help this patient then the doctor will call you

Many people have this complex that they are looking for the big shots to sponsor (such as doctors, lawyers, etc…) and they end up wasting their life and effort chasing the big shots: Big mistake. I was guilty of this mistake myself.

I personally avoid talking to any of my colleagues about my company or my products.

Success in network marketing depends on having a large group of people doing small prospecting efforts on a regular basis: this is duplication!

Keep prospecting large number of people and follow up consistently with them, build relationships before starting to pitch them.

When people get to know you, like you and trust you, they will ask you what you are doing!

Till the next tip,

Dr. Nabil
The M.L.M doctor
Is your MLM sick? Contact the MLM doctor

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Network Marketing Success: Prospecting Secrets

For your network marketing success you need to understand some basics about human beings. Remember, network marketing is not a sales business; it is relationship marketing. Unfortunately, most network marketing companies fail to teach these basics in training, and their distributors are left struggling.

First, you must understand yourself and your patterns of thinking.
Second, for success in prospecting, especially long distance, you must be able to spot your prospect’s pattern of thinking and find his “hot buttons.”
Third, you must understand that your prospects’ patterns of thinking may be completely different than yours.

Your network marketing success depends upon understanding the four major personality types. You need to speak your prospect’s language, not your own, and you can discover a prospect’s personality type by listening and by asking the right questions.

What turns you on may be turning your prospect off!

For example, let’s talk about the “blues.”

• They make up 15% of the population, and they are open and direct.
• They talk too much, they volunteer more information than necessary, they like to have fun, they see the big picture, and most importantly, they don’t like details and numbers.
• Finally, they have difficulty in focusing on one task, and you may think they have a little bit of ADHD. More “blues” hold network marketing positions than any other personality type.

If you are a “blue,” you need to learn to shut your mouth and stop interrupting your prospect; you must learn to listen, and you must learn to focus on your tasks. In contrast, when you sponsor a “blue,” you need to teach him how to listen and how to focus in order to succeed in network marketing.

When you prospect a “blue,” let him talk, and tell him about the trip you won and the fun you have with your team in network marketing. Do not give him details. Make sure you follow up closely with him, but send him short and sweet e-mails. If you make the mistake of sending long, detailed e-mails to your blue prospect, he will block your e-mails, and he will screen his phone calls and never pick up.

Let’s talk about the “yellows.”

• They make up 30% of the population, and they are open and indirect.
• They are soft spoken, they are the super nice people, and they are very sensitive.
• They don’t like pushy aggressive people.

When your prospect a “yellow”, do not talk about money, and tell him how this business allows her to be with her family and loved ones, and how your products are helping people with their health and wealth. Dare to focus on the money with them and you lost them forever.

As illustrated above, in order to have success in your prospecting, you need to understand the different personality types.

Dr. Nabil
The M.L.M. doctor
Is your MLM sick? Contact the M.L.M doctor

P.S. Join Mentoring for free to learn how to pick your prospect hot buttons in less than 2 minutes on the phone and sometimes if they don’t pick up the phone!

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