Monday, June 28, 2010

Attrition will kill you in network marketing

In terms of network marketing, I have been involved in 4 different companies in the past 4 year XANGO, ZRII, Mandura, and Evolv. I am currently still with Evolv and Mandura. 4 in 4 years seems like alot for most, but truthfully most network marketers are involved in 4 different companies within a year. I have gone back in my head regarding that plague in our industry known as attrition and will let you know that most companies in our industry have very high rates of attrition. I cannot be altogether certain, but I thought I read somewhere where the average attrition rate in our industry was 70%. That means for every 10 customers only 3 will continue to order on a regular basis.

Since I am doing a review this month on MLM Companies I thought I would simply put XANGO, ZRII, Mandura, and Evolv all together. My attrition rate with Xango was about 10% (9 out of 10 customers stayed, also fairly good economy), with Zrii my attrition rate was about 70% (3 out of 10 stayed), with Mandura it was about 50% (1/2 stayed on autoship), with Evolv it's about 60% (4 out of 10 stay on the product).

Why is this important? It's critical you get this. You need to know your company's attrition rate so you know how many people you need to recruit and they need to recruit to become profitable. It is also a great way to evaluate your products and company. If 70% attrition is the industry average and your company is at 90%, then you have a serious problem, that maybe you cannot fix.

From now on start paying close to your attrition rates, as if you don't your not being a smart business person.

Saturday, June 26, 2010

Massive Action = Massive Results

I wish I could say that were true. But just because you work hard doesn't mean you are going to be a great success. If that were the case then 80% of the world would be wealthy not 20%. Most of the people I know work very hard just to make ends meet. So how do you change this programming that so many of us were taught a young age. If I just work harder, I will have more? It doesn't take a rocket scientist to figure out if your goal is to make $500,000 per year and become a famous author, that you may have to do some things differently if your the manager of a retail store earning only $50K per year and your time is limited. Whatever it is you desire you must chart out a course of action to get there. If my goal is to make $100K per year, I had better be in a career or be on a path where I know that is possible. Here are some tips to help you make more money in your business:

Change your mindset
Work backwards (Decide what you want to become first, if you don't know where you are going how are you going to get there?)
80/20 Rule - focus on income producing activities 80% of the time, delegate the other 20%
Affirmations
Vision Board (must have a vision of where you are headed)
Ignore Other Peoples Opinions
Don't apologize to anyone for pursuing your dreams
Don't fish for fish in your backyard swimming pool

If you feel like you need a coach to help you find direction in your career, business, relationship, etc... Feel free to contact me anytime at http://www.johnlowery.biz

Monday, June 21, 2010

The WIFM Factor for Biz

Are you familiar with the term The WIFM Factor? It's actually an acronym for: What's in it for me? This is the question most every network marketer to understand to really be able to dig deeper into their prospects mind. This is why when you are looking for people to join your home based business, or buy your product, you must ask questions like: How much money do you want per month? When do you want to leave your JOB? Where do you want to travel to? What are your dreams and aspirations? You need to know certain things about your prospect, or you won't be able to move them along through the process, much less qualify them.

A few tips to get you going for the week:

Listen, listen, listen. Most people want to talk too much. Your job isn't to give away all the information on the first call, it's to find out about your prospect. This is why God gave you 2 ears and 1 mouth. The best salespeople and networkers are good listeners.

Pretend you are independently wealthy and you don't need your prospects business. This way you won't sound desperate and you will truly spend time with those that have a need/want for your product or service.

Give, Give, Give. You can give a lot of value if you have a strong belief in yourself, your opportunity, products, etc. Your prospect will hear you loud and clear. Enthusiasm is contagious

Friday, June 18, 2010

Are women better networkers?

I have a great idea for you to grow your MLM business if it isn't moving ahead as quickly as you would like. How about shifting your focus to women? Yes, women are better networkers than men. Sorry Gents, it's just a fact that 70% of our industry is made up by women. Women are relational and men are cave dwellers. If you don't believe me just look at the number of words a woman uses per day compared to a man, 20,000 to 7,000. Imagine having a team of all women??? 13,000 more words per day. In my latest venture I have a 5 to 1 women to men ratio. I looked at most of my past numbers and realized that women always take alot less hand holding than men. Women are more emotional, so if they like a product, watch out. I brought my mother into one of my network marketing businesses, she had no prior experience, loved the product and brought on 5 of her friends in a very short period of time. If you have a hot product, that women will love, than you might want to look at network marketing from another perspective.

Heck, I may just need to join Avon - ha ha....

Friday, June 11, 2010

Can you change your health with your mind?

I used to be very skeptical of this up until about 3 years ago, when after suffering with chronic stomach pain for over 6 months, I got desperate. I picked up the telephone and started calling chiropractors. I had remembered my brother had seen a chiropractor as a young boy for his asthma and thought, maybe a chiropractor could help me with my stomach ailment. As I made the calls a chiropractor did answer the phone and he said he could help me. After meeting with him, I knew he was godsent. He helped me understand how my mind and body were connected. I begin seeing him regularly not only for my regular adjustments, but also because of all of his positive energy. I begin to feel better in a few weeks and by a few months I was feeling much better. The stomach ailment has never gone away completely, but when it comes around periodically, I have learned to shift my focus away from the discomfort. Attention goes, where energy flows.

If you're in chronic pain or discomfort. Try to re-focus your energy elsewhere. Anytime you start to find yourself drifting into your pain, simply change the channel and focus on another part of your body that feels good. Start to visualize yourself getting better and believe that you have the ability to heal yourself. Take your ailment and turn it over to The God of your understanding and pray for healing. Do this for 30 days, and you should start to feel better. You must believe it, see it, visualize, and shift focus.

Tuesday, June 8, 2010

Is B-hip Global a Good Company?

I recently was fortunate enough to speak with one of the founders of this company. I spent a little time on their website and have tried their products. I'll be honest I wasn't crazy about their energy drink, but their Noni Product was very good. I haven't tried their other products, but have heard pretty powerful testimonials on their product Pleasūr which is a patented intimacy product for women intended to enhance responsiveness during intimate sexual activity.

I am very very very impressed that this company having been around for just barely 3 years is now doing $5 Million a month in business - that's phenomenal for a company this young.

Their leadership team is strong and they have a great world-wide presence in The United States, Canada, Puerto Rico, Mexico, Australia, New Zealand, Hong Kong, Taiwan, Singapore, the Philippines, Spain, Italy, Slovenia, Hungary, Austria, and Japan.

The cost to get started in B-hip is relatively low at $49.95 annually, but they do have other ways to get started that put you in a faster growth situation. There is also no maintenance requirement to keep your position with the company, but in order to earn commissions you will need to order to maintain ongoing activation, an RBC must have a minimum of 20 BV* points of personal volume (PV) in each activation period.

There Are Seven Ways to Earn Money with the BHIP Global Compensation System:

1. Retail Profits
2. Rising Star Bonus
3. Super Star Bonus
4. Override Bonus
5. Leadership Match
6. Leadership Bonus
7. Car Bonus

It looks like their payout is around 65%, which is very good. It also looks to be a hybrid binary, which is a very good pay plan for most people.

If I was looking for a rock solid company with a proven track record, that has already made it past the critical time period when most network marketing companies fail, I would seriously consider aligning myself with this company. Not only are they rock solid and adding multiple products to their customer/distributor base, but they are in multiple countries. If your an online guy like myself, you really don't want to be with a company that is only in the US.

* The above stats were retrieved from http://frontpage.bhipglobal.com/ on 6/8/2010

Thursday, June 3, 2010

Is Mona Vie a Good Company?

Who can argue that Mona Vie isn't a great company. They've only been around for about 5 years and already doing over a billion annually in sales. This company has done incredibly well, and boasts the highest income earner in MLM Brig Hart (about $600K monthly in commissions). Last I heard they had around 900,000 distributors, but it is probably higher than that.

Their product is a juice product that boasts the ingredient of the Acai Berry. Most claim that this fruit boasts many anti-oxidants. I have been fortunate enough to drink Acai Berry for many months in another juice and it is very good. I have tried Mona Vie and the product tastes pretty good, but at the time I couldn't justify another $120 a month autoship, since I was already consuming another product. The product does contain preservatives, which will turn off alot of the people who allocate a portion of their disposable income to health & nutrition. Other than that, I can't see why many wouldn't want to at least try the juice product. It is a bit pricey for the average person. I think this product would attract the upper middle class or wealthy and it has a very elegant looking bottle, so I think MonaVie gets that. The only middle class people drinking MonaVie are probably distributors.

Their leadership appears to be rock solid and their pay plan utilizes the hybrid binary, my personal favorite. I believe Monavie has really changed the compensation of network marketing as they were one of the first companies to implement the hybrid binary pay plan.

The only downside I can see to Monavie is the product is pricey at $120 a month autoship, they have preservatives, you will probably have to purchase more products elsewhere to get your vitamins.

The other downside I see, is they have already hit critical mass with around a million distributors, I think it would be tough to market a single product - lots and lots of competition. I would interview people who haven't been in the industry long to see how they are doing, before I would just jump into this company.

The positives: pay plan, solid leadership, company, and training. I just don't see MonaVie going anywhere anytime soon. They have done very well. I think if someone isn't a risk taker they are probably going to be better off with a more established company. With 95% failure rate of companies in network marketing, you are always safer with a more established company. Although the big money is probably before critical mass. Sorry, you missed it with MonaVie, but it appears to be rock solid.

If your interested in coaching and growing your business email me at john@sellingwithintegrity.net or visit my website at http://www.johnlowery.biz

Wednesday, June 2, 2010

Tribute to my all time favorites

If I were to make a list of my top 10 all time favorite leaders in order of their impact on the world and society. It would look something like this:

#1 Jesus Christ
#2 Ghandi
#3 Martin Luther King Jr.
#4 John F. Kennedy
#5 Ronald Reagan
#6 Franklin D. Roosevelt
#7 Queen Elizabeth
#8 Billy Graham
#9 Nelson Mandela
#10 Winston Churchill

Who are yours?

Tuesday, June 1, 2010

Is Kyani a good company?

I recently came across a company called Kyani. It appears that Kyani is another juice company with a twist. Instead of sending out just juice in their monthly autoship they also include vitamins. This could be good, as anyone who becomes a distributor can just switch stores and purchase all their vitamins, juice, etc. with Kyani's monthly autoship program. The autoship does seem a little high for the average person at $130 a month if you're a customer and $120 per month if you're a distributor. I figure this product like most network marketing products would be a bit pricey for just the consumer, unless of course that person is spending close to $130 per month on their vitamins.

One advantage I do see to Kyani is that they have a global presence in multiple countries, which is very important if your going to build a sustainable network marketing company over time. I did learn that they have made a few mistakes in their global launch and that their liquid vitamin "flagship product" is still not available in some countries.

I do like their leadership team, even though most lack network marketing experience. I was fortunate enough to speak with one of their VP's who has had over 16 years of experience in network marketing and seemed to be very well versed in the industry. I'm very impressed that Kyani has survived the first 3 years of business and with 35,000 distributors currently worldwide this company is poised for growth in the near future. Not to mention they are owned by billionaire potato farmers, capital is always important in any company, but especially a young one.

The comp plan in Kyani appears to be a uni-level with a pretty good pay out overall. I always try to use the 10% rule. Kyani would be good for anyone who is very passionate about health & wellness, but being a uni-level you would be mostly on your own building the business and probably wouldn't ever inherit any new people from your upline unless of course you get lucky or have a very pro-active sponsor.

Overall, I would give Kyani a B- for product/services & opportunity. For me to get real excited about Kiyani they would need to change their comp plan and lower their autoship to the $100 mark to compete with other juice companies.

If you are interested in coaching or getting involved in mlm email me a john@sellingwithintegrity.net or visit my website at http://www.johnlowery.biz