Monday, September 27, 2010

Is Your MLM Waiving a Red Flag?

I have never been a fan of MLM.  I can remember when they were known as pyramid schemes.  Then they became multi-level marketing, then network marketing.  A wolf in sheep's clothing is still a wolf.

Many of the people I pay attention to used to frown upon MLM and now endorse it openly.  I wonder why?  In "these economic times" it's the business to be in, they say. Some of them have partnered with or have started their own MLM companies.

MLM uses legit terms and business practices to cover up the scheme. Words like direct selling, networking, leverage, and passive residual income.  They can help teach someone good skills needed to succeed in business but there are better ways to use those skills.

I came across the work of Dr. Jon M. Taylor.  He has the research that states that over 99% of people involved in MLM are not profitable.  He even has the tax returns to back it up.  I'm sure if you did a careful financial analysis you may find that your MLM business may be generating income but is it cash flow positive?  You can be going broke and don't know it.  You can check out Dr. Taylor's research on his site here.

On his site he has a free 48 page ebook that explains in details how to examine MLM's.  He even has an ongoing book series that is very interesting as well.  In one of his blog posts, he summarized his book.  The following are the 5 Red Flags you should be aware of when choosing to be involved in an MLM.

  1. Recruiting of participants is unlimited in a chain of empowered and motivated recruiters recruiting recruiters -ad infinitum
  2. Advancement in a hierarchy of multiple levels of "distributors" is achieved by recruitment rather than by appointment.
  3. "Pay to Play" requirements are satisfied by ongoing "incentivized purchases"
  4. Company pay out per ale for the person actually selling the product is less than the total of all the up;one participants, creating inadequate incentive to retail and excessive incentive to recruit- and an extreme concentration of income at the top.
  5. The Company pays commissions and/or bonuses to more than five levels of "distributors".
Check out the blog in full on his site here.  Be sure to download the pdf also.  The link is in the fist paragraph of the blog post.

 Be diligent with your decisions.  There are many alternatives to MLM.  In fact Dr. Taylor lists over 3700 of them on his site.  There is no quick and easy way.  You must not be afraid of good old hard work and elbow grease.  Don't fall for False Profits.

Thank you for reading.  Please comment and share.

"Building Wealth One Friend at a Time"

Saturday, September 25, 2010

Clicking vs Networking

This article was inspired by George C. Fraser.  You can find out more about him at his Facebook page here.

In the world of the internet, netowrking opportunites has exploded.  Finding people to connect with is no longer limited by location.  The amount of people to connect with is also virtually unlimited by the amount of resources the internet provides.  With all this access, has networking become bland?  With social media you see people with hundreds and even thousands of "friends" but how many of them do they click with?
Let us look at the difference between Clicking and Networking.

  1. Clicking is genuine.  You tend to desire to bond with those who have similiar likes and experiences regarding people, places and things.  Networking is superficial.  Often the connection doesn't go beyond the surface of what you have in common.
  2. Clicking is synergistic.  This is when both people bring their skills, resources, and energy to the relationship that benefits both involved.  Networking tends to compromise.  Both people or one may have to sacrifice and then both only partailly benefit, not fully realizing their potential.
  3. Clicking is based on trust first.  When you click with someone there is a trust and belief in the good of the the other person.  Networking tends to be a show and prove before I trust you.
  4. Clicking is about the relationship.  When you click, you are looking to build rapport more than "just business" over time for the long term.  Networking tends to be about the transaction, the lead, the sale, the job, etc.  Basically about the immediate now.
  5. Clicking is mutually beneficial.  People who click tend to use "We" and "Us" in terms of their interactions.  Networking is often selfish usually using the thought process of "what's in it for me?"
We all need to network.  It's the way to filter through to the people you click with.  When we go to a seminar, event, or meet someone online, the immediate time provided is for networking but then it's important to follow up and build relationships.  Click and build lasting weath.  Only network and you will always only be as valuable as your last sale.

Thank You for reading.  Please comment and share.

"Building Wealth One Friend at a Time"

Tuesday, September 21, 2010

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"Building Wealth One Friend at a Time"

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Viral Videos for List Building

All experience marketers know the old adage that “the money is in the list “. Network marketers have developed contact lists in many different ways over the years. Generally a sign up form is offered with a free giveaway. Someone simply fills out the form with a name and e-mail address to “opt in” to the autoresponder and the free giveaway is provided to them. In return for that, they generally understand that they have granted permission for whoever made the offer to follow up with other e-mails with other offers.

Several years ago the singular e-mail opt-in was taken a step further when software was developed that asked the first recipient to forward the offer to 4-5 of there friends in order to qualify for the free giveaway, or perhaps even a very low priced offering. Hence, list building became viral, meaning that a single e-mail to a single individual could be multiplied in a near exponential manner as each level of opt-ins continued to forward the offer to even more people.

The Web 2.0 World

Of course the latest to trend in the network and internet marketing community is the Web 2.0 world of blogs, YouTube, Twitter and the like. The use of videos in various social networks in order to communicate and establish a following with the subscribers has become ubiquitous. The net result of all this is that seemingly the most effective way to communicate with potential subscribers, or even to acquire subscribers and customers these days is probably through the use of videos.

Videos have a number of advantages, including the ability to present yourself as a sincere and a knowledgeable person in a face-to-face way. A potential subscriber or customer is more likely to buy from someone they they feel like they know. So consequently, it’s almost imperative these days that you use the video medium in order to communicate with potential prospects to turn them into eventual customers.

The New Viral Video World

Interestingly, a new video software system to build a contact list and potentialcustomer list virally has been introduced. Internet guru Joel Therien, CEO, is in the process of launching very easy to use video building software called Easy Video Producer that has the potential to be a very effective way of generating contacts in a viral manner. This system is unique because the software itself is being offered as the free giveaway for this video “tell-a-friend” system. Essentially, the system will offer you free and extraordinarily easy to use video generating software that builds and posts your personally produced video and information capture form on a website or blog. A contact management system is included with the free offer as well.

The viral concept is that you would then attract traffic to introduce yourself to the prospect in a more personal way, offering them the opportunity to opt in and use the same free software that you used to prepare the video. The prospect and new contact would in turn use his free new system to attract even more potential contacts for his list and yours as well.

As in the earlier e-mail systems, the originator of the viral distribution of the free software would have access to every subscriber in the levels below him. So, what is offered is a system that provides a free and very simple (even a cave man could do it) method of posting videos to the internet that have a specific purpose of giving away additional software in a viral manner to capture a fast growing network of contacts with whom you can continue to build a relationship.

The Issues I See

The problems with this system are not dissimilar from those in other earlier systems of using free giveaways to build a list. . You first must be able to get your video in front of an audience and in order for them to subscribe, and they in turn must have an audience to subscribe in order for the system to work effectively. It can probably be most effectively used by someone who already has a subscriber list and wants to expand it rapidly.
Another potential negative is that the the new contacts you generate with this list, both directly and indirectly, are not yet buyers and it’s likely that many of them will have no interest in your particular marketing niche. Proper strategy of course is to build credibility over time through a series of value adding free offers that are designed to help categorize their interests. Only then should you move on to the stage of offering them the opportunity to buy your stuff.

This new Easy Video Producer software system appears to offer a simple and easy, no cost way for the experienced, and particularly the relatively inexperienced non-technical networker to make effective use of videos for viral list building, and business promotion.

Written by Rich Keesling
You can visit the site at:
Easy Video Producer

Sunday, September 19, 2010

$1.54 a day to Protect Your Wealth

You can tell what someone values by what they spend their money on. This applies to every part of life. What do eat? Where do live? What do you where? Who do you spend time with? This not meant to be judgmental but to serve as an inspiration to self examine your choices.

The high levels of unemployment in this country is no secret. Yet I'm sure if you went to the unemployment office, you'd see pretty much everyone there with a cell phone. Even more so a Blackberry, iPhone, or some other smart phone. Yet, when I mention Gold or Silver, I get many excuses. The main one is "I can't afford it"

Here's a solution. Do you have $1.54 a day? I'm quite sure you spend more than that on things you don't need. $1.54 a day gets you a 1 Ounce Silver Eagle every month. Even better if you mention it to 2 friends, you get a bonus 1 ounce Silver Eagle. How you ask? Silver Snowball is the best way to begin your journey to obtaining real money.

Yes, Gold and Silver is Real Money. United States Constitution Article 1 Section 10 says so. United States Code Title 12 Chapter 3 Subsection 411 say to redeem your Federal Reserve Notes in lawful money. So what are you waiting for?

Go to Silver Snowball and start to lawfully redeem your money. $1.54 per day to protect your wealth.

Enjoy this short clip.

Thank you for reading. Please comment and share.

"Building Wealth One Friend at a Time"

Thursday, September 2, 2010

Jim Rohn Budget for Financial Independence

Hello Friends,

Becoming rich or wealthy may be terms that sometimes may make people uncomfortable. I can understand that. Hollywood in the 80's helped make becoming rich a slightly bad word. How about another term that expresses doing the right things in a better light. How about Financial independence.

I watched an awesome video clip of Jim Rohn speaking on financial independence. His definition of financial independence is: the ability to live from the income from your own personal resources. At the time of him making this video he used a 20 year time frame but I think today it can be accomplished in 5-10 years.

It all depends on your philosophy. Philosophy in this case is the ability to gather the right information and put it into action. When it comes to money, there are only two philosophies. Rich and poor.

Poor people spend first and invest what is left. Rich people invest first then spend what is left. What's great about the rich way is that the amount of money doesn't matter. It is in the doing of things in the “Certain Way” as Wallace Wattles says, that will lead to financial freedom.

Here's a basic way to examine this philosophy. Depending your situation and philosophies, you may adjust these percentages to fit your goals.

Never spend more than 70% of your income for your expenses. Set aside 10% for some form of generosity. For some it can be charity or tithe. Use 10% as Active Capitall. Do something with your earnings to make a profit and acquire assets. The next 10% use as Passive Capital. This is money you let other people use. You help others acquire assets that they make a profit from and you earn interest for letting them use your money. That's letting your money work for you.

I don't have an issue with the terms rich and wealthy but I'm okay with financial independence too. If your current financial situation is not what you would like it to be, the power is within YOU to make the changes needed. The amount of money doesn't matter. You can't measure yourself with another person's yardstick. All that you want, you can achieve if you do things in the “Certain Way”.

Thanks for reading. Please comment and share.

“Building Wealth One Friend at a Time”

What is Asset Spending?

"It's not your salary that makes you rich but your spending habits." -Charles Jaffe

There are many quotes that you will find that will echo the same point. What you spend your money on is a good indicator of what you value and it directly affects your financial condition.

Regardless of your job, income, or position, have you ever said "my paycheck is gone before I get it?" That is a sign that you are spending too much of your income on liabilities instead of assets.

Robert Kiyosaki has the best definition of assets and liabilities that even an economics professor can understand. Assets put money in your pockets and liabilities take money out.

In today's economic times it is important to pay attention to where your money is going and to whom it is benefiting. I often come across people who may be struggling financially but they have the newest smart phone, premium cable/satellite TV, and the latest hot fashions on. If you can't be financially fit, you might as well pretend, right?

Everyone understands residual income. You continue to generate income for doing something once. If you've been to a network marketing presentation then you've been exposed to the concept. It can work the other way too. Think about this. How many times did the cell phone guy sell you the new smart phone? How many times do you pay? How many times did the cable/satellite guy sell you their services? How many times do you pay? Every month you contribute to your poverty while making someone else rich.

I don't subscribe to "cutting back" to build wealth. You should enjoy life and everything that it offers. What I am suggesting is to shift your spending habits. Instead of spending your earned income on liabilities, spend it on obtaining assets that then can be used to buy and/or expense the things you enjoy.

When making spending decisions ask yourself, "is this product or service making me richer or poorer?" Become customers of businesses that are dedicated to making you richer!

Thanks for reading. Please comment and share.

"Building Wealth One Friend at a Time"