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Re: Strange Money #5: Network Marketing Q/A
11/13/2005 1:14:36 PM
Hello Bob, No I haven't made very much in this business. But I just started with VemmaBuilder and its lookiing very good. Carolyn
Carolyn Mary Sproul
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Bob
Bob Needham

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Re: Strange Money #5: Network Marketing Q/A
11/13/2005 1:52:23 PM
Hi Jack, I have only been online since April of this year, my expenses put out for GDI have been $10 a month. I have never paid for any advertizing of any kind. My monthly income after the second month was greater then the $10 cost for the month, ergo, I've been in profit for 5 months, each month a little more than the month before. $3000? not even close, ask me next year. :) Bob
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Cheri Merz

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Re: Strange Money #5: Network Marketing Q/A
11/13/2005 2:19:02 PM
Hi, Linda Great thread! I'm sure you'll get some good input. Here's mine: 1) How do you feel about the concept of MLM/Network Marketing? Love it? Hate it? Why? I have a love/hate relationship with MLM. I love it for the same reasons Bob does. I hate it because I don't like to do some of the things that are required for success (e.g., work consistently--I'd rather play). I also love it for that reason because I am determined to make a success of it and therefore I'm growing. My favorite motivational author/speaker, Jim Rohn, says to become a millionaire for what it will make of you to become one. Whether or not I become one, the concept of MLM is making me the best me I can be because it is the line of least resistance into business ownership. 2) Why does it have such a "bad" name? Two reasons: 1) There are some very badly designed programs out there, and many compensation plans that are designed to benefit the few and the company rather than the many. Add to that the fact that most are "sold" on the dream of riches, even instant riches, and you have nothing more than a scam. If people would analyze what it takes to succeed, then compare that to their own willingness to work, those companies would die a well-deserved death. That said, a few do make money and lots of it, so the next reason also comes into play. 2) People are still gullible enough to believe the "we'll build it for you" myth. If the company were willing to actually do that, why do they need distributors? So the people join, do nothing, sometimes spend a lot of money staying qualified, get discouraged and then angry. Then they blame it on the whole business model rather than on their own laziness or lack of foresight, or downright greed. Bottom line, it has a bad name because of the people who make bad choices and then blame the industry. 3) What is the difference between an MLM/Network Marketing Business and a Ponzi/Pyramid scheme? Network marketing is any marketing that relies on word-of-mouth and relationships to sell a product. MLM is network marketing with a compensation plan that rewards recruiters as well as sellers. A Ponzi/pyramid scheme as I understand it is an illegal scheme that has no real product. Money is generated from new people coming into the group rather than from the sale of a product or service. People often confuse MLM with pyramid because of the pyramid-shaped organizational structure used to portray the pay plan. If you were to look at a traditional corporation, you'd see the same pyramid shape. MLM is a business model, nothing more, nothing less. 4) What is the "secret" to succeeding in MLM/Network Marketing - in your opinion? That should be pretty clear by now. First, understand the pay plan and analyze what you will have to do to make the money you want to make. Then analyze your own discipline to determine whether you will do it. If you think you won't and still want to do it, change your attitude, get motivational training, do whatever it takes to make yourself work. Otherwise, don't bother. 5) Have you ever really made any money with MLM? If so, which one? Not yet. However, I have revolutionized my financial situation with the one I promote, Ascend Technologies International (ATI). It's the only one I'm aware of that will help a customer achieve the financial goal, without selling the product, which is a web-delivered bundle of personal financial management services. Before I joined, we were spending about two hundred dollars a month more than our income. We had about $13,000 in credit card debt that we couldn't seem to make a dent in. My husband had just taken a 15% pay cut along with everyone else in the company he works for so that the company could survive without layoffs. 18 months later, with no appreciable change in our income level (my fault, see below), we have paid off 2/3 of the credit card debt and have not made one credit card expenditure that we didn't pay in full with the next statement. We took the nicest vacation of our lives, in Mexico. We have a small emergency fund building, Christmas paid for and sufficient funds in the bank to run both of my businesses for the next year even if neither are profitable. There's also enough food in the house to feed us for at least a month even if we bought no more groceries. Every penny I've spent to subscribe to the ATI service is worth two, in my opinion. Even if I never make more in it than I'm making now, I'll never turn it off. I might actually get busy and recruit some more people one of these days. That I haven't is my fault, not ATI's. Other people are doing just fine--I have to fight my tendency to stay in the house and play on the internet instead of talking to people. However, the pay plan is very fair, so I do get paid for everyone in my downline without any nonsense like balancing, breakaways, flushing etc., so I make a little bit. In other words, I know what to do...I just don't do it. Well, Linda, you asked, lol. Hope this wasn't TMI. :-} Cheri
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Re: Strange Money #5: Network Marketing Q/A
11/13/2005 3:08:23 PM
Linda, As you and Peter are both aware, I am very new to the MLM world, but I'd have to say that so far, I'm enjoying it. I love the interaction with people and I've made some money. Not much, but I'm enjoying myself. And through your forums and with Peter's advice, I've learned a whole lot. So even if I don't succeed, in my opinion, the experience has been very worthwhile.
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Winston Scoville

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Re: Strange Money #5: Network Marketing Q/A
11/13/2005 3:12:50 PM
How do you feel about the concept of MLM/Network Marketing? Love it? Hate it? Why? I love it. Why? Probably, the most direct answer is that it allows me to run a fully functional business from the comfort of my own home with all the systems in place to operate it (i.e. shipping, support, customer service etc). The only thing I need worry about is finding customers and distributors. Why does it have such a "bad" name? Oddly, in my experience with this industry the only place I really see any semblence of the industry getting a bad name is here on the internet. I know many people personally who have been involved in the industry with various companies and none of which have anything bad to say about the industry itself. As with any business venture though, there are always the bad apples in the bunch and as someone has already pointed out, people will remember the one bad thing you have done versus the hundred good things. What is the "secret" to succeeding in MLM/Network Marketing - in your opinion? To me it's all about your marketing plan. You have to know where you are going and how you are going to get there. If you're real lucky you will have a mentor to help you take some shortcuts along the way by avoiding things you need not waste time doing. Thus it is also important that your company has a good and proven business model. (It's also important that you don't approach marketing on the internet the same way you do offline! They're two totally different worlds! LOL) Have you ever really made any money with MLM? If so, which one? Yes. We have two MLM businesses so I will list them separately. Quixtar - We have been involved in this business for just over four years and are averaging about $1100 per month in profit for the past year or so. SOC/GCI - This business we have been involved in since the beginning of May of this year. We are averaging about $300 a month after expenses and that number has grown each month we have been building this business. Wow Linda! Each of these questions could have a separate thread all on their own. It's hard to be brief when you know there is so much more you can say. :-)
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