Here is a review of the five categories Randy Gage,the MLM industry legend used as case studies in the training session and the important information to know about each.
Category 1:
These are schemes providing opportunities.They actually often do experience the exponential growth curve. But of course their downfall is even more dramatic, once they experience the regulator scrutiny that is inevitable for schemes like these.The opportunities in this category are NOT Network Marketing programs, even though they often claim otherwise.
Category 2:
These are the companies that had momentum and sustained for a significant period of time. They are now billion-dollar-plus companies and have already created legacy incomes for people who got in early and became a reason for their growth. These are fine companies offering stability and the chance for a steady income. But they have reached a level of maturity that prevents someone from starting with them today and creating large bonus checks or exponential growth.
Category 3:
These companies have been around for a long period of time, but never hit that exponential growth curve. The only growth they have, if any, is incremental growth, usually coming from opening new markets. In the markets they have been operating in for long times, these companies have failed to capture the imagination of the public.
There are many reasons these companies did not reach momentum. Often it is because their products are not viable, their compensation plan does not promote the correct behavior, or inexperienced or poor management.It is virtually impossible to create substantial wealth with a flat-line company, unless you are willing to hang around for decades.
Category 4:
These programs probably create more misunderstanding and broken dreams in the business than any other. Because most people are not aware of the distinction between the small business model (primarily retailing products) and the big business model (developing duplication and creating a large team of distributors that produces large group volumes).
These programs completely miss the formula for creating wealth in Network Marketing: "Get a large group of people ïto do a few simple actions over a consistent period of time."
The reality is about 10 percent of any population could be classified as sales types. 90 percent of any population would have to be classified as non-sales types. They don't know how to sell, they hate the very idea of it, and they are deathly afraid of rejection.As a result of this, these 90 percent do not do well in this category.
Naturally we would tailor our approach to the 90 percent, not the 10 percent. That is the fatal flaw in these companies, in that their approach is geared to the ten percent of sales types. Of course this means that they don't have any true passive income, making them destined to be grinders for as long as they work the program.
Category 5:
Our final category is where true wealth is created in Network Marketing. This is an emerging company that possesses what it takes to hit and sustain momentum, and become the next billion-dollar success story. This is where legacy incomes and substantial wealth are created.
We can see,what are the ingredients for a category 5 company in our next post.
All the best!
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About the author:
A selfmotivated person interested in teaching and helping people to be finacially free,to have their dream lifestyle,to earn residual income.free Randy Gage audio: http://www.truemlmrockstar.comfree financial freedom ebook: http://www.kannanviswagandhi.comMLM tips blog: http://www.6figuremlm.wordpress.com |
