They say it takes money to make money.
Should I try to get a small-business loan for
my start-up capital or just try to get by with
my own limited finances?
KC: You should allow at least $2,000
to $3,000 in start-up costs. The beauty of a home-based
business is the low investment and start-up cost.
You should be careful with your spending and make
sure the comp plan has a quick return on investment.
Once you start making a profit, take some of that
profit and put it back into the company. You need
to be constantly reinvesting into your business.
AH: This depends entirely on the
business. With the home-based opportunities available
to us today, I recommend someone remain in their
full-time job, while working their new business,
if possible, in the evenings. Sometimes putting
too much financial burden on yourself when starting
something new makes it harder to work. I feel
like 80 percent of being successful is first enjoying
what you’re doing. How can you enjoy something
that puts added stress on you and your family?
MK: This really is a business and
should be treated as such. Overestimate what you
need and get a small loan if you must. Then be
sure your money is spent on assets, not liabilities.
TM: I can’t say what is right
for everyone. However, I will tell you I begged
and borrowed to get my business up and running.
Part of my student loans, credit cards, and lines
of credit are a few of the sources I used to get
myself up and running.
JS: You’ll need $1,000 to $1,500
to properly set yourself up. I got a loan for
$4,000.
RU: I am not much for borrowing
money, but that is just personal. My reason is
that I have many thousands loaned out to friends/associates.
Due to how slowly I am paid back, I can tell that
they view that money I loaned them differently
than if they were working with their own cash.
I think it would be the same for just about anyone.
Using your own hard-earned money will raise your
level of commitment, and COMMITMENT is the way
you will succeed.
How do you get your best
leads?
KC: Through advertising in network
marketing publications.
AH: In the beginning, it was referrals.
As I started making money, I tried advertising,
and it has been very effective. Many of the leaders
on my team are now using co-op ads to keep their
costs down. We have all been very happy with the
results.
MK: ProSTEP of course! They have
the best leads, system, and training out there,
and I have seen so many people totally turn their
MLM experience around after joining ProSTEP. It
is important to remember that leads can be useless
without training in how to use them properly,
and I cannot stress that enough.
TM: I go through a lot of bad and
average leads. I work the numbers, and good people
show up.
JS: By offering people FREE information.
That gathers leads into my online system; I then
break them down with repeated sets of letters
that are sent out via autoresponders.
RU: ProSTEP: www.prostepinc.com.
What are your best tips
for surviving rejection?
KC: Do not take anything personally.
AH: You CANNOT take rejection personally.
People are NOT saying “no” to you; they
are saying “no” to your opportunity.
We all have different likes and dislikes. If you
go to a restaurant and suggest to your friend
that they order the steak, and they order the
chicken, do you take that to mean that you have
bad taste? NO. You think nothing of it. Your business
opportunity is no different. “Some will;
some won’t; so what?”
MK: Funny you ask since I always
hated rejection and still do but have come a long
way! The best way I have found is to help your
distributor become successful as fast as possible
even if they do not know what hit them. It skyrockets
their belief and changes their posture, and then
a few rejections will simply be meaningless to
them. Also, it helps to teach people to attract
and not chase, to sort and not hunt. They will
spend 90 percent of their time talking to people
that are at least interested in what they have.
TM: Realize rejection is the first
step to acceptance. No one great has ever walked
this earth and not experienced rejection; so you
are in good company. If everyone accepts you,
what that really means is most people haven’t
really noticed you. If you want to excel, you
will have to be noticed. If you are noticed, some
will love you, some will not, and some won’t
care. Be ready for all three.
JS: Yawn. I am the cause, not the
effect. The minds of other people who reject MLM
and my offer have ZERO effect on me. MLM is a
numbers game that you play alone.
RU: Read enough books that talk
about rejection as a natural part of sales and
believe it. That is what we all do, whether selling
our opportunity or selling our products. Read
enough so that you believe rejection is natural
and WILL happen.
How many distributors must
a person recruit each month to succeed in network
marketing?
KC: Between two and six personally
sponsored with your downline team members sponsoring
100 new people every month.
AH: I believe that if someone has
a goal of adding two to five new distributors
per month, over time they will have an enormously
successful business. One of the biggest mistakes
I see in our industry is that once people start
making money, they stop recruiting. I think that
is a huge mistake. That may be one reason I was
not first to reach our “comma club,”
but was first to the “five-figure club.”
I set my pace the day I signed my application
and don’t plan to alter it for a very long
time.
MK: There is no one answer to that
question as it depends on the comp plan. The rule
of thirds seems to be consistent. Out of nine
people you sponsor, three will drop out, three
just play or buy, three will be serious. Of those
three, eventually one will be really serious.
TM: Two to 10.
JS: Every heavy-hitter I know of
enrolled 100 to 1,000 people. To make the numbers
work in your favor, you need to enroll at least
25 to 50 people. After that, do it again and again.
