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Topics > Business Planning How To's > ID: 1815

Do You Want To Own Your Life?

Posted Date: Dec 11th, 2008 08:20 | Hits: 608

Author's Profile

  • Jenny Wudtke
  • Mentor / MLM Coach
  • SocialRank:  #64
  • Level: Senior (269)
  • Confirmed Friends: 24
 
Sound appealing?  Would you like to have more choices in life?  Options are  always good, aren't they? 
If you really want to Own Your Life, it is critical to have a Proven Success Formula.
A company may have exceptional products and the best pay plan in the universe, but if it is lacking any one the 5 Pillars, you could loose everything in the blink of an eye!  Now you see it, now you don't!  Everything you've worked for and everything you stand for could be at stake! 
 
For example, let’s say I want to make an apple pie.  I would expect a delicious; mouth watering apple pie if I follow the directions, right?  If the ingredients needed consisted of apples, a pan, crust, sugar and spices and an oven, what would happen if I took out the apples and the spices?  If I were missing even one of these crucial ingredients, what would happen to my apple pie?  It probably wouldn't turn out, right?
That is the 5 Pillars.  Your business is your apple pie!  If you are missing just one of these ingredients, your business will not turn out. 
 
The correct answers to these 5 questions will assure you that you have the correct recipe!
 
1.  Does the company management have personal experience building their own 
     network marketing company?  Have they done it with integrity?
  • Beware if I company is under funded it is likely that the compensation plan might all of a sudden change. It’s very important to read the "Policies and Procedures" and "Terms and Conditions" carefully (the longer the contract the worse it is).  Look for words like "termination, with or without  cause."  Believe it or not, some people I have talked to cannot even find their policies and procedures......  not good.  Also watch for words like "ongoing", this typically means you will never beable to retire because you are required to have ongoing sales or ongoing training.  That is why most of us get involved with Network Marketing isn't it, to own your life and beable to enjoy the finer things in life, right? 
  • Do the owners have integrity?  Google search the owners and the company name and put the word "scam" in parentheses after it.  Look at the track records; have they filed bankruptcy one or more times in the past?  I've seen companies just change their name and they are at it again...
  • Do the owners have a corporate background or do they have an in-the-field network marketing background?  What does a traditional business owner know about running
  • If your company is publically traded you can bet that the company’s financial decisions Will be made in the favor of the stock holders, at the distributor’s expense.   
2.  Has the company been in business for at least 2 yrs?  Beware of Ground Floor opportunities and start-up
     companies.  The statistics are that 99% of companies don't make it past 2 years.
 
3.  Does the company have an extraordinary product at a reasonable price?  Most companies have great 
     products!  Instead let’s look at what the market wants.  For example, if we look at how many people have
    diabetes in the world we come out with about 100 million people just in the United State alone.  Does that
    sound like a mass of people?  That is about 1/3 of the population in the USA alone.  The company that I am
    involved with has a product that retails for $19.95 a month that stabilizes blood sugar levels and often times
    alot of consumers will get off their meds.  I've never used this product because I don't have diabetes but
    would you agree that there is a definite demand for it?  Also, are the products at a competitive price?
 
4.  Does the compensation plan pay the part-timers?  95% of the people who get involved with network
     marketing are part-timers.  The BEST compensation plans pay the MOST money for the least amount of
     work.  People must beable to make a decent income working just a few hours a week.  A good way to figure
     this out is to take the compensation test.  Ask one of your upline who have done the deal how many people
     it took them to make $10,000 per month.  Some companies it takes 100,000 people and the least I have
     seen in the industry is 350 people.  Big difference, isn't it?  We need to know where we stand in the
     industry.  If I have to work 3 times harder than someone else to make $10,000 a month well, I probably don't
     want to target their market, do I?  If you are making 5% to 8% on your product you are extremely  
     underpaid.... 
     If a company says "Recruit, Recruit, Recruit" you better "Run, Run, Run!"
 
5.  Does your Mentor offer a Proven Duplicatable System for success that will work for you and everyone else
     that joins you?  Does the system that you are using work for everyone?  Does it work for people who you
     love dearly that may be suffering from Rhumatory Arthritis with chronic pain or maybe they have Limes
     Disease and were told by doctors that they would be dead 5 years ago at the age of 33?  Will your system
     work for him?   My 7th grader should beable to Rock and Roll with this thing and all she should have to do
     is become a professional pointer!  That is a Proven Duplicatable System. 
 
The question we all need to ask ourselves is do we have all the ingredients required to assure that our apple pie will indeed turn out to be delicious and all that we expect?  
 
Your Friend For Life,
Jenny Wudtke                                       
 
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Member's comment

helpfprmlm  Dec 11th, 2008
Sage advise. if all would follow there would be less horror stories. Thank you.

Elwood

Daniela Riess  Dec 11th, 2008
Great recipe for a successful company, Jenny! We all need the 5 pillars to be successful.
I agree that in a publicly traded company, the priority is to make the share holders happy, and distributors are always second.
I also agree that making guarantees on earnings is illegal and looking at third party comments is a must. Overall, being a critical thinker pays off!

I appreciate you,
Daniela Riess

pplcheryl63  Dec 11th, 2008
We can have fun but do no not make remarks about others companies without knowing. I work my opportunity full time, I don't punch a time clock for anyone else. I'm not the only associate I know of that that lives off of this business. And I am building residual income right now and it does not take hundred of people in my downline either. You just have to work smart.

Juanita  Dec 11th, 2008
You are right Cheryl
I was out of line saying that last Part but lighten up. lets have some Fun.
Juanita Waterman

pplcheryl63  Dec 11th, 2008
Juanita: This is in Reply to Cheryl To have a company Publicly traded cost 100,000s of dollars Cheryl. A.
In reference to the last part of your statement , it is uncalled for and beneath someone who considers their self a leader. I am not in this business "for fun" and for you to imply that by making that statement shows a marked lack of professionalism on your part.

pplcheryl63  Dec 11th, 2008
Cynthia and James: I agree about independent party reports. However Forbes has made reports on companies that 10 years
Exactly why a publicly traded company is a benefit. What everyone is ignoring is the word "reputable". There are plenty of publicly traded companies out there that aren't worth jack, but it very easy to find this out by researching that company.

A privately held company does not have to report anything to the Securities and exchange commission, they do not have to file proof of distributor income. They can claim anything and you cannot verify it.

A check stub doesn't hold up as proof, you can order the software to create any "official" check stub you want. Posting checks online means absolutely jack since they can be forged. 1099's filed with the SEC and the IRS are the only dependable proof there is of what a distributor makes.

The history of growth and sales as filed with the SEC is proof.

Cynthia and James  Dec 11th, 2008
I agree about independent party reports. However Forbes has made reports on companies that 10 years later fell on their face and the distributors were out 10 years of work. There is a reason pay plans change. And in the policies and procedures most do say that the board of directors call the shots. If a company is above board the 1099's are always covered. I was in 2 other companies that made guarantees to their distributors...and the board of directors changed those pay plans at will. This company files 1099's with the SEC and historically has made no major changes in the pay plan since their inception except to actually raise the distributors ability to make more money. This is in writing and is historically documented, Independant party report have put the owners of this company beyond reproach and these owners are constantly be sought out as profession experts because of reputation and continuing success over a 30 year period. So if that is the case I have to beg to differ on the pubilcly traded topic.

Jenny Wudtke  Dec 11th, 2008
It wasn't until I was taught " How To Think" instead of "What To Think"
that I realized how important it is to know if my plan has all the components it takes to have a foundation that will be here for my children's children. It took me 8 yrs in the wilderness before someone finally helped bridge the gap of education, to be certain that everything matched up with the 5 critical ingredients. No more time wasted! Our future is our everything, it is worth whatever it takes to be 100% sure that everything checks out!

Juanita  Dec 11th, 2008
This is in Reply to Cheryl
To have a company Publicly traded cost 100,000's of dollars Cheryl. And guess who pocket that will come out of. The Distributors. The company has to make money for share holders 1st and formost. Not Distributors. When you are in a MLM you need to know how many People it takes to make X amount of dollars. Because in MLM you have residual income. It is criticle to know how much you make per person .In your company Cheryl it is a very High Number compared to others. but if you are doing this for Fun then I am happy for you.
Juanita Waterman

Alex Wrobel  Dec 11th, 2008
Well, as I was reading this article, I wanted to see if my company had this. Luckily it pretty much had it all. Definitely people need to get with a reputable company.


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