Self Funded Proposals, Network Marketing Leads

What do you mean the check is NSF?

Wed, Feb 3, 2010

Hello there! If you are new here, you might want to subscribe to the RSS feed for updates on this topic.

If Your Network Marketing Company Went Bankrupt, Would It Bankrupt You?

Imagine receiving your latest commission check from your chosen network marketing company and going to the bank to find out that the check is NSF. Would you immediately go into panic mode? Would you be in utter shock? Would you be at a total loss? Would you still be able to pay your bills? I am not sure what your answer is, but for most network marketers this type of news could be financially devastating.

Unfortunately, there are many network marketers who have left the corporate life for the lifestyle they have built through hard work with their network marketing business. They have been able to build up substantial earnings and move up the social food chain, they have bought bigger homes, nicer cars, and are enjoying the good life… all with the idea they own their own business and the are immune from things like corporate downsizing and corporate bankruptcy. They have worked hard to build their own business and they feel they have security because they disillusioned into believing they own they network marketing business. Then, all there dreams are washed away in quick instance!

You see… in this economy, there are many network marketing companies that just aren’t making it. And the scary thing is some of these companies are the BIG BOYS who tout that they are completely debt free. Network marketing companies going bankrupt is an all to common occurrence that leaves many distributors holding an empty bag.

So is there a solution to this dilemma or should you just keep your day job?

Rejoice… there is a solution and it really is a simple one. As a matter of fact, the solution will allow you to sleep soundly at night because you will have multiple sources of income and your network marketing opportunity will only be one of sources. The solution is to master the concept of Attraction Marketing. So what is attraction marketing and how can it save you from MLM company bankruptcies? Well, let me answer that question with my own personal story.

You see until last year I was toiling away building my current opportunity and running out of people I knew to recruit, so I went on a search for lead generation ideas and I ran across this guy name Mike Dillard. Little did I know he was the king of Attraction Marketing and had written a very good book called Magnetic Sponsoring. I have to tell you I was so engrossed with the ideas in the book that I read it from cover to cover within hours after buying it. I would like to share the key concepts of the book because they will free you form being completely dependent on your primary opportunity…

Become An Alpha Networker

You must become the expert. You see… you must have value to the people around you if you want them to seek you out. So how do you gain value. You educate yourself on the methods master marketers use to build their businesses. This means you need to buy books, videos, and other courses on marketing in order to gain knowledge in your field. if you want to be a true leader, your education never stops. You MUST be willing to invest in yourself.

Build Your Own Brand

You must understand YOU are your business, not the MLM company you represent. The people you come into contact with aren’t going to be buying your current opportunity, they are going to buying into working with you. I can’t tell you how many companies I have joined over the year because I liked the guy who recruited me. Your business is to market yourself… that really is the key, those who learn to market themselves effectively are the ones driving the fancy cars and living in the big houses. So really what you are selling to people is your marketing system… you sell your marketing system to your distributors and the system in turn sells your products.

Take The Emotion Out Of Your Business.

This simply means you can’t become emotionally attached to any prospect. You must learn to market so that you have more leads then you have time. When you have a surplus of leads it is so easy to walk away from wishy washy prospects.

Implement The Power Of The Self Funded Proposal

So what is a self funded proposal? Well, this concept is what separated the master marketers from the opportunity peddlers. This is a key strategy which has your prospects pay for your marketing in one way or another, regardless of whether or not they buy into your primary business. It is a marketing strategy which incorporates a means for offsetting the cost of marketing.

You see most marketers run out of money before they can generate enough money from their MLM business to pay for their marketing costs. With a self funded proposal, all of your marketing costs are covered before you even make a dime from your primary company… and in many instances you make a significant profit from your marketing. I have implemented an amazing self funded proposal which allows me to get paid form multiple sources and it has revolutionized my business.

So my advice to you is very simple… learn the whole process of attraction marketing and start marketing yourself instead of your MLM opportunity.

Related Blogs

2 people like this post.

Unlike

Attraction Marketing, Internet Marketing, Magnetic Sponsoring, MLM Lead System Pro, Network Marketing, Self Funded Proposal

11 Responses to “What do you mean the check is NSF?”

Donny Gamble Says:
16. February 2010 at 10:11 pm
It has been a reoccurring them that must network marketing companies don’t last for more than 5 years and then seem to fade away. It is now more important than ever to make sure that you choose the right company or you will fall victim of losing your entire team and business

Scott Scales Reply:
February 18th, 2010 at 7:29 pm
@Donny Gamble, Also the reason why we must market ourselves and not be tied to one company.
Chris McCargar Says:
24. February 2010 at 9:38 am
Hey Scott, this advice is apropos.

How many times have we seen HUGE companies file for Chapter 11 in the past couple of years? NONE of them are invincible! From AIG to GMC… the mere suggestion of their collapse would have been laughed at just a couple of years ago!

When it comes right down to it, the only “security” we have, is us as individuals… “YOU, Inc.” As you pointed out, we must develop that resource to its fullest potential, or risk being at the losing end of another corporate failure.

All the Best…
~ Chris ~

Scott Scales Reply:
March 9th, 2010 at 8:28 pm
@Chris McCargar, Chris, you are right on the money. If we do not build “You Inc” we stand to lose our business just like we can lose our job in the corporate world.
Melissa Wright Says:
4. March 2010 at 9:21 am
Hey Scott! This is a fabulous post. It is hard to imagine that the company that we sign up with, especially when we first get started and our so excited about the products and the promise of reaching our dreams, may not always be around. You are right though, there is always a chance that something may cause that company to go out of business.

That is why it is so important to learn the Attraction Marketing skills that you are teaching. Once you master these skills, you can apply those skills to any new business and be successful very quickly.

Thanks for the great reminder on how important it is to build our own personal brands and not to just rely on our company!

Scott Scales Reply:
March 9th, 2010 at 8:29 pm
@Melissa Wright, Melissa it is awesome to connect with you. I have been watching your blog and you really have so much value in the posts you share, thanks for adding to the discussions on my blog.
Jodi Lee Says:
4. March 2010 at 10:42 pm
Wow, there is a LOT of great information in this post, Scott. Thanks for so much detail and such an important message.

Scott Scales Reply:
March 9th, 2010 at 8:30 pm
@Jodi Lee, Jodi, thanks for adding to the discussion. I look forward to getting to know you as well and to tracking the posts on your blog.
Bankruptcy Lawyer Chicago Says:
10. March 2010 at 6:28 pm
I think it’s key to not put all of your eggs in one basket. I really believe in the idea of multiple streams of income. Many of the most successful companies are widely diversified. Individuals should be as well.

As a consumer bankruptcy lawyer, I know that keeping all of the eggs in one basket can lead to terrible financial setbacks. That’s exactly what most people with a job do. Then when the job is gone, there’s nothing left.

Marketers have to be aware that any stream of income can dry up and always make sure they have several others filling the pond.
Wendy MacKay Says:
27. June 2010 at 8:37 pm
Great information shared Scoot, and so important for people to note that may be thinking about going into business for themselves as an independent distributor. It is important to be aligned with the value of the product, the validity of the company, but first and foremost is the people, the relationships, the credibility of YOU. At the end of the day you are marketing a company’s products that you have no control over. If you maintain your credibility, your customers will follow you wherever you go, trusting in YOUR service.
Wendy MacKay´s last blog ..Action

Trackbacks/Pingbacks

uberVU - social comments - 23. Feb, 2010
Social comments and analytics for this post…

This post was mentioned on Twitter by jscottscales: RT @jscottscales Self Funded Proposals, Network Marketing Leads | Scott Scales.com http://is.gd/7E1OP...

Click here to cancel reply.