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Patience is How to become Financially Independent

Written by: Jason Bronson

Article Overview: Network marketing companies love to tell new recruits and prospective recruits how to become financially independent simply by telling others about the product or service they are selling.

Patience is How to become Financially Independent

Network marketing companies love to tell new recruits and prospective recruits how to become financially independent simply by telling others about the product or service they are selling. The smooth-tongued salesperson convinces you that they have a superior product or a unique service that is taking the market by storm, and if you don’t quickly jump on the band-wagon, you will be left behind as others become millionaires.

Multi Level Marketing Has the Potential to Make Millionaires

The income figures these Multi Level Marketing companies are quoting sound too good to be true, yet some research on your part will most likely find that they are, in fact, the truth. What the MLM companies don’t tell you is that they are referring to a mere 3% or less that generates that kind of income, and that the loss in sales force, or downline distributors, is about 93%, which must be continually replaced.

Most people who get into direct sales have no background in selling, but believe that the product will sell itself. A good product will do that, but income generated from sales alone is not where the big money is. It is in recruiting distributors beneath you and under them that create the volume of sales that bubble up to the top. Obviously if the downline is weak, the distributors do not work the program, or they leave and join another MLM, that loss to your downline will have to be replaced. Your success depends entirely on how well you can recruit a motivated and efficient sales force in your downline. There is no sitting back and letting the dollars roll in. You must recruit, recruit, recruit.

Effective Recruiting Takes Training and Persistence

If you have a good product and a burning desire to bring it to the public, establishing a MLM system is a cost-effective way to do it. If you have no prior experience with network marketing, you need to hire a trainer or buy a training program to get your sales force going. Why try to reinvent the wheel when you can utilize consultants with years of direct sales experience to set up your training and compensation plan? Be sure to have an attorney with MLM legal background to be sure that your company is legitimate.

Be the Leader

Once you have a good marketing plan established, you need to be actively recruiting, training distributors, and selling the product too. Mary Kay Ash, of Mary Kay Cosmetics always said, “The speed of the leader is the speed of the gang.” You need to be the role model, but rejoice when one of your people in your downline tops you!

Take Care of Business

Creating your own MLM company is what every distributor should believe is the objective. True, you may be sharing the same product, but each distributor is responsible for the success of his or her business. Like raising a child, there are times to be patient or demanding, but always give it attention.

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Article Tags: how to become financially independent, network marketing companies, new recruits, patience, prospective recruits
Referred by: http://jaykubassek.com



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Chain store hurdles - [quote:3v8nzz4s]Everyone I'm targeting are independent stores which helps me overcome one hurdle. [/quote:3v8nzz4s] What hurdle is that? I know the major stores like B&N, etc. like to deal with buyers and distributors, but I think they all cut some slack to "Local" authors, don't they? Every store I go into has its "Local Section," featuring local authors, as well as books about the locality. I wouldn't bypass them altogether. If you drive past one, why not go in and visit, talk to the manager, see what they say? [quote:3v8nzz4s]Bookstores want to order through Bowkers and I have their info and the ISBN (identification) numbers for my books. [/quote:3v8nzz4s] You mean the major chain ones do, right? Independent stores I think have no problem dealing directly with the publisher/author. But you want to get your money up front if possible in case they go out of business....as too many independents do these days.
Re: Template of Service Agreement/Contractor Agreement - Shimmy- I, too, would be happy to share my template contract for a service provider. But beware, a template agreement may not be sufficient to properly address your needs. Some key differences between Employees and Service Providers: 1. Tax Status. Employers are responsible for withholding tax on employee's earnings. Independent Contractors are responsible for reporting their income/taxes. There is a significant reporting burden and liability associated with this. 2. Confidentiality/Intellectual Property. Often times, employee handbooks will specify an employees confidentiality obligations and many states impute a duty of loyalty. Contractors are under no such obligations absent a written agreement. Same thing for IP/Creative works. The copyright Act draws a sharp and significant distinction between employees and contractors when it comes to ownership of creative works. 3. Liability for tortious acts. Generally an employer is liable for the tortious acts of its employees under the theory of respondeat superior. An entity hiring a contractor may/may not be liable, but without a written agreement for the contractor to indemnify/defend the hiring entity, their may be little recourse against the contractor. There are many other subtle differences too numerous to mention. I hope you find this helpful.
Re: Template of Service Agreement/Contractor Agreement - [quote="Dave_Adler":21fe7egl]Shimmy- I, too, would be happy to share my template contract for a service provider. But beware, a template agreement may not be sufficient to properly address your needs. Some key differences between Employees and Service Providers: 1. Tax Status. Employers are responsible for withholding tax on employee's earnings. Independent Contractors are responsible for reporting their income/taxes. There is a significant reporting burden and liability associated with this. 2. Confidentiality/Intellectual Property. Often times, employee handbooks will specify an employees confidentiality obligations and many states impute a duty of loyalty. Contractors are under no such obligations absent a written agreement. Same thing for IP/Creative works. The copyright Act draws a sharp and significant distinction between employees and contractors when it comes to ownership of creative works. 3. Liability for tortious acts. Generally an employer is liable for the tortious acts of its employees under the theory of respondeat superior. An entity hiring a contractor may/may not be liable, but without a written agreement for the contractor to indemnify/defend the hiring entity, their may be little recourse against the contractor. There are many other subtle differences too numerous to mention. I hope you find this helpful.[/quote:21fe7egl] I was thinking these same points as I was reading the earlier posts. I've been working with independent contractors for years - first as one, and then hiring many of others. These are three of the key things to be sure you include in your agreement. If they are truly an independent contractor, they are reasonable to handle their own taxes. I always include a confidentiality clause and very few have tried to break it. Liability can be a huge issue, depending on the sort of business you are in. In the US - there are all sorts of tax rules for state and federal government to distinguish if a person is or is not an independent contractor. If you make the wrong choice there are all kinds of penalties to be paid. Another thing that should be considered is that your business worker's compensation and/or liability insurance may have to cover these people. I know in construction, I'm charged for any independent contractor and their employees if they don't have their own insurance. That can get really pricey. If you're in a similar situation, talk with your insurance company, some will allow an independent contractor to sign an agreement that they will waive your responsibility to insure them. You would still need to pay for their employees, but it does save some money during an insurance audit. Chris


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