MLM - A BUSINESS OR A TOOL? - WILLIAM EASTMAN

​PROFIT RADIO..."Grow With Us"

Introduction
This is a very different topic from our usual focus on business acumen. This series on MLM (Multi-Level Marketing) covers both the business and technical sides of the business. Last week we discussed "The Network Effect 1:1" as a viable business model. Our approach was and will be to fold (1) should you choose MLM as your new business, (2) is it a tool I can use to build the Marketing & Sales arm of my business?

The goal of this series is consistent with our mission of increasing the number of successful startups, create generational wealth for the owner, and increase local jobs. We intend to use MLM as part of our Marketing & sales Strategy and will use that journey for examples.

Look at IBGR as your CGO - your virtual Chief Growth Officer. In that mode we have built a platform that will move beyond the one-way conversation of radio and podcasts to real relationships; our Community of Commerce.

A thought before we start, I want to invite you to my new group on the Community - Living the Life . If you are a serial entrepreneur and looking to discuss how to build a business that runs itself so you can start running multiple businesses - this is the right spot.

LISTEN > ENGAGE > APPLY

Objectives - The WHY
The goal of today's show is to explore two options - starting a MLM business and using it to build your current operation.

Key Issues - Owner Perspective:

1. How to pick the right MLM company & offer to build my business?
2. How do I use MLM techniques as a marketing & sales approach?

What You Need to Know - The WHAT​
MLM Business

• Background of Management Team
• The competitive advantage of the offer - how does it compare to the competition - check out the data.
• Checkout the size of the market, their offer's current share of market, forecast growth of the market over the next few years.
• The credibility of the offer - avoid the "Get Rich Quick" promise.
• The compensation plan and specifically compensation for bringing in new members vs selling.
• The ratio to people who joined vs revenue producers - how many joined to purchase the product or service at a discount.

MLM Method

• An extension of a core marketing & sales team, not in its place
• Sufficient margin on the products & services for a competitive compensation plan
• Structuring a compelling and viable compensation plan
• Generating leads - yours, theirs, a mix
• Mixed marketing and advertizing - what is macro and what is micro
• Build on your affiliate network

What You Need to Do​​ - The HOW
MLM Business

1. Start with what you would have a passion to sell.
2. Checkout the companies in the space with a focus on the management team, growth potential of the offer, comparison to other offers, and compensation plan.
3. Set up a meeting to be "sold', what did the experience feel like.
4. Is it truly a business in a box.

MLM Method

1. Research all of the best MLM companies selling a similar offer
2. Build your version of the model in advance of making the move
3. Structure your marketing & sales operation to reflect an inner core and outer force
4. Build an affiliate network first - your starting point
5. Create the compensation plan and test before launching
6. Recruiting from affiliates to expand their offer by using your products & services, consider white labeling

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We are your single, one stop source for business success, period, end of story.

1. ​Listen to the Building a MLM Empire Series 
2. JOIN the Community of Commerce 
3. Show Up Next week

Make sure you leave some thoughts in the comment section below. I am interested in continuing the conversation.