Joining fee and auto-ship:
Instead of going out to start looking for people to join your opportunity, one of the fastest ways to ensure cash flow is to LIQUIDATE your products!
See that stash of products lying around your house? (Your health supplements, skin care or water filters, etc) A lot of people leave their stocks lying around the house while going on a recruitment spree forgetting that once you sell off all your stocks, you will break even on your investment!
If you are wondering whether to keep those products so you can try them yourself, don’t worry. There is more where that came from. If you work hard to eliminate your investment costs, you can always purchase more products from the company later on and those products will most likely contribute to your sales volume as well.
The key is to get your WARM MARKET started on the products, and not pitch the opportunity to them straight away! If you try a good product at the supermarket, I am sure you will tell them all about it. Why should you treat your network marketing products any different? Are you afraid to talk to your uncle bob because your products are from a network marketing company?
Once you get your family and friends started on the products (It doesn’t cost you that much considering that those are money set aside for your business whether you sell or give them away), once they see results from it, they will start promoting the products to the people around them!
Don’t you see how by using your inventory when you first started off, you can potentially create runaway word of mouth giving you free warm leads offline? The best thing of all, you can choose from those groups of product users who can be a good business builder because of their trust in the product, you can get them in easily.
Doing so will also eliminate your costs when it comes to auto-ship. When people are actively consuming the product, all your downline will be on auto-ship and you will not be afraid of them canceling their auto-ship because it is taken care off by their warm market demand.
Training MaterialsIf you want to be successful in network marketing, your must invest in yourself. No I don’t mean investing in stuff that goes below your neck because there is a tendency for network marketers to eat a lot during group gatherings (and grow sideways!):
It is investing in what’s above your neck which is your mind!Serious network marketers will always invest their hard-earned money in two things.
• Leads
• Training Materials to upgrade themselves like books and tapes
Since we know that people will be spending money on the second category, why not make a profit from it to fund your business?
One of the ways is to obtain training materials is to join free membership sites that provide free e-books or training material to help you expand your knowledge. These low cost, methods will help you tremendously instead of spending your much needed funds for surviving in your business on expensive hard-cover books that will cost $50-$300.
One website I highly recommend to generate leads online for free is Mike Dillard’s Magnetic Sponsoring 10 days boot camp.Click on this link to view his material:
http://10days.magneticsponsoringonline.com
This boot camp offers a training system especially tailored for network marketers. The best thing about it is that it is FREE and 100% generic and works with any company.
His website comes with a built in lead capture system which will allow you to build relationships with your prospects as well as generate additional cash flow for your downline. You can promote this system down your genealogy chart so that everybody will benefit from the cash flow.
Phone Bills
As soon as your network begins to grow, you must consider switching to a phone plan that provides low-cost or unlimited access to all sub-lines. This is a great way to save on phone bills when calling your downline. Some telephone companies offer unique phone plans that give you a referral fee or even an overriding percentage over your referee’s or your network’s bill.
Other ways to cut down on phone bills is to go online to coordinate team meetings over the internet. Tools like Skype are useful to do long distance opportunity meetings and counseling sessions with your upline.
PetrolIf you find yourself burning too much petrol when prospecting, then you must consider QUALIFYING your leads. Not everyone who gets into your group will be a ‘CLASS A’ networker. It is wise to focus on recruiting people who have qualities to succeed in any business. Opportunities do not make someone rich; hard work and persistence does.
If you are prospecting someone who is indecisive, lazy and complains constantly, it is better to keep him or her in the back burner and focus on other people (follow up with them on your spare time). You don’t want to find yourself driving miles just to talk to someone and after two hours (or a few months later) you find out that they are not interested or they are not the person you are looking for.
A very good way to qualify what type of prospect you are dealing with if to ask him or her questions about their self-development. If you find that they have no energy in their words, or are not doing anything to improve themselves then you can very well save lots of time and petrol.
LeadsYou don’t have to spend a fortune on leads. Here are some suggestions on how to get leads for free.
• Switching to a line of work that allows you flexible time and involves servicing instead of moving to a sales oriented line. Why is this so is because a servicing oriented line allows you to build rapport for free with your prospects and they will generally have good feelings towards you contrary to a sales line where the same customers you are selling your product will wind up being the same prospects for your business (Don’t confuse them by selling many things).
• Other network marketing companies. Join their Opportunity talks or rallies. You will get to know many like minded people here and there and they will be more than happy to be your friend because they want to get you into their opportunity. You can sort and filter which are the people you want in your network later on. If your convincing power is very good, you might bring over an entire network of distributors over.
• Attend highly motivational seminars (e.g. Anthony Robbins), you will meet a lot of people here and they will be so highly motivated or fired-up, you will have more chances to recruit them (they are so fired-up they believe they can conquer the world or realize their dreams). Furthermore, they are most likely the ones who will ‘go all the way’ if you successfully recruit them.