Posts

Moral and Philosophical Underpinning

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We build groups of people who choose to collaborate to make money together.  Fundamentally, this is what we market and "sell".  The individual businesses and platforms we employ to fuel the economic engine do not really matter (given they are sound).  Essentially, they could be anything.  As such, we are not hawking a "biz opp", we are creating understanding about the benefits of "agreement" and of being in business together. This agreement, at its core, has a moral and philosophical underpinning.  Without "agreement", a viable, long-term business will not exist.  No consensus, no shared values, and commitment... no long-term business.  Therefore, to re-state, we build consensus within groups of people who choose to be in business and make money together.  The asset you build is a group of competent, committed people who (ultimately) participate in monthly subscriptions, long-term -with you being the recipient/beneficiary. To back up a step, mora

Squandering Existence

Let me start with a number of questions. Who is accountable for your life?  Do you have anyone pushing you to excel?  Do you have your own standards that you strive to meet? What benchmarks do you have that signify success?  Given that this blog is about home business and making money. are you satisfied with where you are with respect to your finances and earning potential? Is any of this worth any thought?  Is it possible to be intentional and strategic about how you invest your time and resources, pursuant to stated objectives? To squander is to waste foolishly.  If you are not "present" and intentional about what you want your life to be, you are squandering life (existence) and losing the potential of the moment.  Right now, you can make decisions that will propel your life in a more positive direction.  You simply need to do it. These actions do not need to be massive.  They can be small and incremental, but need to be tied to some defined outcome and on a timeline - and

Mentoring Fundamental #1: Asking, "How Can I Help?"

 I have written about this topic in other posts.  As such, I will be brief here. Here is the lay of the land: If you are in our Community, you are in a recruiting / organization-building business. The real asset you build is people. These people are competent, and; committed to a common mission/vision regarding our business model. You nurture competence through building relationships that are based on support and mentorship.  You build commitment through others' having success and thus sticking with our business. Relationships involve communication, both formal (training) and informal (chatting). The most fundamental act of communication is reaching out to someone and asking "How can I help?" It is the responsibility of the enroller to structure the onboarding and continuing mentoring process.  This process has to be thoughtful and strategic.  In other words, there has to be a plan of when and what you will talk about as a business-building exercise. Then, the rest is sim

Costs of Doing Business Compared to Other Professions

I am officially "retired" but work about 25 hours a week at a Prometric Testing Center as a Test Center Administrator.   PTC is a worldwide organization that administers nearly 500 different tests across many professional disciplines.   Some of these include the United States Medical Licensing Exam (USMLE) for physicians, NCARB is for Architects, ASE is Automotive Service Excellence.  Then we do the Graduate Record Exam (GRE)... all of the Praxis tests for teacher certifications.  We also do TOEFL (Test of English as a Foreign Language).  Massachusetts Insurance Licensing for Health, Life, P&C.  Certified Public Accountants need to take 4 tests...  FINRA licenses Stock Brokers (Securities Industry Essentials, Series 7... etc.)  And... many, many others. Each of these tests costs money.  For example, to become a fully-fledged Architect, one is required to take 6 exams each costing $235 each, for a total of $1,410.  A physician's total investment for the three tests the

The Role of Instant Pay Offers

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This post pre-supposes that you are open to a portfolio approach to generating income with a range of diversified products and services.  This will not appeal to anyone with tunnel vision who thinks their product or opportunity is "their business". In contrast, "your business" is the group of competent, committed people who agree with and participate in the same business strategy you ascribe to.  As such, the businesses themselves can be anything.  Your business is a cohesive group of people who share the same values and principles in a community of support and interdependence that is built on relationships.  That being said... The natural market for what we do is the universe of people who are already familiar with Social Commerce.  Call it what you will... the global way to describe it is building organizations and sales teams through marketing and networking.  This includes the Multi-Level Marketing Industry, Affiliate Marketing, Network Marketing, Home Business

MLM Myopia and a Call for Wider Vision

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The Multi-Level Marketing (MLM) business model is difficult to make work.   The success rate attests to this.   Or, conversely, the failure rate in the 90%+ range attests to this. Regardless, many people intrepidly espouse their love of 1) the product or service, and/or; 2) their aspiration for time and financial freedom.   The inherent “rub” is simply a  repeat of the first sentence:   it is difficult to make work (and) many starve-out due to lack of success – which translates to lack of organizational growth... and in turn means no profitability or income. There is a way to fix this problem.   First, l et’s compare and contrast the MLM business model with Affiliate Marketing where there are immediate payout, "cash now" offers. As most know from the name of the industry, MLMs have many levels.   Typically, there is an up-front incentive bump like fast-start-bonuses for recruiting new enrollees, and then in the following month, percentages kick in for whatever rare gems

Task Management is a Function of Time Management

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 Fancy title... for not-so-complicated an idea.  This deals with To-Do lists and your schedule.   To-do lists are tasks, e.g., stuff you need to get done that is written down somewhere.  Your schedule is the same.  It is a written accounting of how your time is and will be spent/invested.  Combining these is a "work plan":  when you plan on doing what . Making a commitment to this kind of structure is a BIG change for many (most?) people.  It requires engagement and focus.  First, you need to "spell out" the plan and then execute your plan.  It requires forethought.  It requires projecting into the future. It requires discipline.  Otherwise, you are operating by the seat-of-your-pants. Now, let me circle back to the title of this post.  Task Management is a Function of Time Management.  In other words, everything starts with your calendar (no matter how you keep it:  online, a calendar book, or weekly planner).  Task and time management are inextricably tied, but u

Who's Hurting? ...as a Marketing Strategy

Right now, in December of 2020, in Rhode Island where I live, we just entered a two-week shutdown due to Covid 19.  Our hospitals are full and just down the street, they have opened a facility to house more Covid patients, the first 7 were today - in a barracks-style warehouse.  These people are sick, however, there are many more people who are hurting due to job loss, financial strain, and even hunger. There is a world of hurt.  Restaurants are closing.  Servers and cooks have been laid off.  Just about every night on the news there is a new story with a restaurant owner talking about how they are struggling to keep their heads above water and make it through these dark times. We can help.  We can propose an alternative that may have not been considered.  This can be done locally.  It can be done nationally. A few weeks ago, Disney laid off thousands.  Can you go on LinkedIn and do a search for people who worked at Disney and are "looking for" or "seeking" new work

Affinity Affiliate Marketing

When I was in college, my undergrad degree was in Human Communication.  Many people in this field go on to be Counselors.  A word I learned was 'homophily".  It means perceived similarity.  For instance, in general, tall, skinny people will be most likely to be attracted to tall skinny people.  People of similar socioeconomic backgrounds tend to be drawn to each other... people who play tennis...  have read the same books...  Any perceived similarities are predictors of attraction. So, what does this have to do with Affinity Affiliate Marketing?  The question is, "To whom are you homophilous?"  Aka, who do you have something in common with?  For example, I have had my Life and Health Insurance Licenses twice in my life. I can disclose this and "fully" empathize with people who are struggling to sell these insurance products.  In this industry, there are as many people "starving out" as coming into the industry with wide eyes and eager optimism. Bu

On Being a Digital Franchise Broker

To get to the definition of a Digital Franchise Broker (DFB) let's start with the word Broker.  Everyone understands what Stock Brokers do. They evaluate and recommend stocks and establish relationships with clients to manage a portfolio of "paper" assets based on the performance and value of corporations or commodities.   Stock Brokers need to be licensed and certified by the Securities Industry to transact business.  You may have heard of all the tests:  the Securities Industry Essentials (SIE), then on to Series 7, Series 66... there are many, many more credentials that people need to test (and pay) for - to become certified in different areas of expertise.  Ultimately, when credentialed and making money, a portion of their earnings are funneled up-the-organization (or) these profits are 'baked in" based on their commission structure. Insurance and Real Estate Brokers are much the same.  They too have tests and certifications to pay for - and need to pass.  Ho

Marketing to MLM's

First, allow me to clarify the segment of the industry we are in.  We are Affiliate Marketers. We deal predominantly with digital tools and/or eLearning products.  We affili(8) with affili(et) offers and earn a large percentage of a one time sale for a product or service.  This is how Amazon, Walmart, and Best Buy run their Affiliate programs although they are not as generous and lucrative as what we do.  In our case, this one time sale is integrated with a leverage component that enables organizational growth and earning money from a team that uses a powerline or subscription... or whatever structure the affiliate offer is paired with. Multi-level Marketing on the other hand, in most cases, is a physical-product-based offer and is almost completely dependent on large organizations given the multi-tiered structure(s) that provide a much smaller percentage throughout all of the different "layers/levels" of their compensation structure.   As an analogy, think of it this way.  A

Pitches and Proposals

This post is about business strategy and the role of "pitching" things versus "making a proposal" about a much larger proposition.  Both play a role.  However, it is important for you to understand the difference between pitching-an-opportunity (whether it be a product, service, or tool) and making a proposal-for-life- transformation and having the sophistication to understand how each fits into your overall business strategy. So as an analogy, let's talk baseball.  Everyone knows what a pitch is. A pitcher throws a ball to a catcher.  It is a single act, repeated over and over during the game.  It is a single, solitary, isolated "thing" that is just one part of the overall strategy of the game. A proposal, on the other hand, is more like the game plan.  On offense, what will the batting order be?  Who is best to lead off, and who is best to bat clean-up?  Do you plan to steal bases, or hit and run?  Are there situations where you will bunt?  In the fi

Meet Jeff the Genius, Master of Tenacity

This is a tale of perseverance and courage in the face of mountains of obstacles. It tells the story of relentless commitment to a vision, being squashed like a bug and somehow reassembling all of your parts and only to come back bigger, better, and stronger. Among many things, Jeff Long, the CEO of Textbot.ai is an artist - a classically trained singer.  He has all the markings of creative people.  Emotional.  Impetuous.  Brilliant.  His lived experience in breathing life into the Textbot platform has been a tale of triumph and tragedy, then triumph and tragedy...  In this evolution, he shared both the intimate details of the devil on his shoulder and the better angels that came to his rescue.  I did not always agree with or appreciate his level of disclosure, but now in retrospect, I see it as a necessary means of catharsis to deal with the stresses and pressures that he carried through the ordeal of surviving through Abundance Network and giving birth to TextBot. Now, at the time o

Business Builder or Money Hustler?

 Let me start by asking a question.  Is there is a place in the Home Business Industry for people who simply want to make a buck?  These people may have no interest in the big picture stuff with a long-term orientation.  Additionally, they may have tried "figuring out" things in the past and simply have given up on their ability or aptitude to make things work.  So instead, they can (and are more than willing to) pitch "this or that" with a very short-term strategy of simply hustling to make money.  Full stop.  No relationship.  Everything is a sales transaction. Once you have bought, you are on your own.  No different than going to the grocery store and buying a potato. We all know these people exist, consciously or by default.  Again, asking, if there is a financial incentive for the (purchaser) and you are an Affiliate selling a tool or re-marketing other peoples' products, where does the responsibility lie for teaching the purchaser how to make sales?  Is it

The Semantic Soup of Sponsorship

I had a short exchange with an Opinion Leader on Social Media recently.  We are involved with the same platform that is both a tool and an income opportunity.  His thought was, "Your referrer owes you nothing but their referral code, anything more is a bonus".  I took him to task and here's why.  In my mind, this is a distinction without a difference if you split the hairs of the referrer, sponsor, enroller, upline...  Semantically, they all connote the same thing.  The person I was "arguing" with was attempting to make the case that given that we market a "tool", it is no different than Aweber (an autoresponder "tool") and the Affiliate Program for Aweber does not require selling your soul to the person you enroll for (in this case, for this program) $100.  Or, as he said it, "they don't own you for $100". I disagree to the extent that everyone deserves a shot at profitability.  In the "opportunity" portion of this to

The Art of Prospecting Successful People

No need to re-invent the wheel on this one.  Total attribution goes to Ray Higdon.   I simply think this is so important to understand (and he does such a good job of explaining it) that I want to include it here; There is a video on this page as well as the article:   https://rayhigdon.com/the-art-of-prospecting-successful-people/ Good stuff.  Take notes with the objective of integrating into how you view and manage your business.

Epitaph

There is a pretty well-known leadership training exercise named, "Epitaph".  It focuses on what you would want to be inscribed on your tombstone.  It uncovers the legacy you leave to the world that constitutes the fruits of your labor and leadership? This is a forward-looking, yet retrospective exercise about the meaning of your life.  Again, what will you have left to the world?  How will you be thought of when you are gone?  How many people will come to your funeral?  Will you be missed, and why? Now, rewind the reel of this future movie to the present.  What are you doing to fashion and groom your Epitaph?  What choices are you making now?  Right now, this very minute you are choosing to read this, however when you get to the end of this post, then what? Being conscious and fully engaged "in the moment" is the subject of many Existential Philosophers.  Have you thought about the meaning you bring to others' lives?  What can you do to have an impact?  Or, are

Influencers, Influence and Trust

 A big part of what determines our success is our ability to influence others.  The way we position ourselves in the vast ocean of "opportunities" to make money is central to how we are perceived. This positioning has a direct bearing on our ability to influence and be trusted. So, what is this positioning?  It is many things, however, it starts with education that is honest and reliable in terms of explaining the unvarnished truth about "what it takes" to be successful in managing a home business.  Then, mentorship and a long-term frame of reference have to be near the top of the list.  Lifestyle adaptation and time management.  And, so much more that is talked about in this Community. Most think of "influencers" as people with huge audiences (email lists or social platform followers) who in turn (given their mass exposure) have the ability to have an influence on this audience.  You have the opportunity (and challenge) to do the same - and at the same ti

What Are You Paying For?

 I have had some interesting exchanges recently with a reasonably well-known CEO of a family of eLearning/Income platforms.  The business model of most of his platforms involves some form of monthly residual income.  This is the same space in which we dwell.  As such, I have no issue with the overall business model. However, if you are paying (pick a number) $100 a month on a subscription basis, then what are you really paying for?  In some comp plans, a certain percentage goes to the company as an Admin Fee (say 20%), or in this case, $20.  In some cases, there is no Admin Fee and the entire $100 goes to the person who enrolled you. This begs a question, "What are you paying for?"  Are you paying for a ticket to the money mechanics, the back office of the platform, and all of the tracking of people and payments?  The obvious answer is YES, you are.  But it begs a second question:  "Are you paying for support and mentorship?" In other words, what is the person on th

Value Ladders, Upsells, and Leverage Components

All three of the items in the title of this post are related, with nuanced differences.  The first two are both leverage components.  An upsell is basically a disguised value ladder.  Let me explain. At the highest level of marketing, a value ladder is fully explained as part of a strategy.  It starts with an introductory offer of (typically) anywhere from $9.97 to $49.97 and is a part of a fully transparent strategy that tells a prospective participant the "goal" is to leverage into higher-level (price and value) products.  Value Ladders are a way to maximize the lifetime earnings from a single customer by increasing the monetary investment, typically over time, and (perhaps) out of earnings. Upsells, on the other hand, promise "the world" in an initial offer and then on the bridge page (sometimes referred to as thank you page) give you the infomercial equivalent of "but wait... if you act now... never to be seen again at this price" pitch.  To me, this i