This is Blogger home of Tyrone Turner.
Folks, I'm pretty darn good at motivating people to get moving, and training them in relationship building, how to network, team building, and how to leverage certain tools to have more success.
I hope that you'll find your time here well spent.
Timothy Ferris wrote a great book called The 4-Hour Work Week. In that book, he talks about employing virtual assistants to work in your business while you work on your business. That is to say a virtual assistant (VA) works in your business handling administrative tasks while you focus on growing your business by engaging in income generating activities (e.g., meeting with prospects and existing customers, attending networking events, open house events, product demos, etc.).
Highly qualified VAs are available offshore for as little a $6 per hour. The VAs in based in the Phillipines are particularly skilled and affordable. Some people frown about using offshore personnel and think that money is leaving the USA. That is not true. When a business owner cuts expenses while increasing her/his revenue, it is most likely that that "new found" disposable income will be spent right here in the USA.
To learn more about this option that can help you save time, energy, and money, go to www.OutsourceForSavings.com.
You know, I like to help people, and generally do not want or expect anything in return. However, when networking, some people always call me for a "hook-up" of some sort but they never reciprocate.
Check out this video I put on YouTube:
Here is a letter that I'm sending to a few people. They have to be reminded that networking is a two-way street:
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Dear Friend,
I need your help.
You know that I network like a mad man and I work really hard to help others have success. I'm always looking for ways to connect people to prospective customers, vendors, and strategic partners. Not all of the referrals work out, but the fact is I give quality introductions via email, or I set up a conference call or a video chat.
Heck, I may have purchased products from you or used your service in the past - or maybe I still do.
Hey, I really need you to help me out.
Who do you know who is a busy corporate professional that has a side business?
I market two services that may be able to help them automate and preschedule blog posts and social media updates, and a tool that allows them to network with others from the comfort of their home or office.
Please keep your eyes and ears open for me and forward this info to others in your network.
I've shown you time and time again that I do in fact keep my eyes and ears open, and forward info to my social media network about you and the products/services that you offer.
Let's get the exchange flowing, and let's keep it going and growing.
Thank you.
Kind regards,
Tyrone Turner
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Hey, if they don't get the message, they don't want to get the message. I'll just take my database of contacts elsewhere.
You make sure that you do the same. Follow your dollar. Put money in the pockets of those that put money in your pockets.
Don't be reluctant to give first, but if it seems to be a parasitic relationship rather than a symbiotic one, drop that zero and go find a hero.
A lot of us home-based entrepreneurs still have a full-time job. That sure does make growing one's business kind of difficult. However, difficult is not impossible. Especially in 2010 and beyond.
After reading books like Tim Ferris' The 4-Hour Work Week and Scott Fox's e-Riches 2.0, and joining great online communities like The Perfect Biz Finder and Click Millionaires, I picked up a couple of ideas on how to automate your initial contact and follow-up.
I discuss a few of them in the below video.
Check out the video and click through the links for more information on these free and low-cost services.
PRINT THIS OUT if you're involved in our considering starting a network marketing home-based business. I am 100% confident that you'll find this helpful.
There is so much hype out there these days.
Before you invest your time, energy, and money, please ask your latest candidate to become your business partner 10 questions.
I'm not just talking about a new distributor you're looking to enroll, but also the gal or guy that is trying to recruit you.
Desired score for both is 70% - at least 7 out of 10 answers should be acceptable to you.
If you don't feel comfortable with the person or the proposition, DO NOT partner with them.
Questions for Your Prospective Trainees:
Have you ever worked a home-based business before? Tell me about your experiences.
[To determine their experience level].
What made you join that business?
[To determine their 'why']
Why do you want to join this business?
[To determine if their excitement being tempered by reasonable thought]
How much extra income per month would make you feel like you're getting ahead?
[What amount of money is considered 'success' to them]
How many hours per week are you going to dedicate to growing your business?
[Is the time commitment in-line with the income goal?]
How do you see yourself growing your business. From home, over the Internet, phone, mailing post cards, meeting new people, or some other way? [This will give you and idea of their personality type]
Do you have a * minimum * of $100 per month to commit to the operations of and marketing of your business?
[It costs to grow a business. This includes personal product and/or service use, along with replicated website, Bookkeeping software, CRM, samples, marketing collateral, postage, face-to-face networking events, and speed networking over the phone.]
How long are you going to commit to working this business before you decide that it is not for you? [Recommend 90 days]
Will you do what you say you're going to do? [To gauge their credibility--honesty]
Will you in be honest with me on how you feel and fact do what you say you're going to do once you make a commitment?
[Setting the stage for accountability]
_____
Questions for Your Potential Coach:
How many companies like this have you worked with before?
[To determine a track record of success or failure]
How long did you stay with your last company?
[To gauge their commitment level]
Why did you leave that company?
[To see if their reason for separating was valid - to you]
Why did you decide to partner with this company in particular?
[What was their why]
How many ways can I make money? [They should have a basic understanding of the compensation plan]
What are 3 things that makes an MLM program a good, worthwhile program?
[Look for 3 out of the following: Good company management with experience in the industry; Timing in the company and industry; Remarkable product; Fair compensation plan--rewards spare-time, part-time, and full-time people; Training system; Purpose that fits your tastes; Reputation and culture of the company and it's distributors]
How many people are you actively coaching now?
[To see how available they'll be]
How many business opportunities are you working right now, and why are you working more than one program?
[How focused are they and are they a shrewd capitalist?]
Other than the start-up kit and my monthly commitment (products or service subscription), how much extra money do I need to spend?
[They should be able to something like this: "It costs to grow a business. This includes personal product and/or service use, along with replicated website, CRM, samples, marketing collateral, postage, face-to-face networking events, and speed networking over the phone."]
How can I get the extra money to start and maintain my business?
[Buy from yourself--if your company has products that allows you to "switch stores", CoinStar(TM) machines, bag lunch, W4 adjustment]
A lot of people want to start their own business but don't know where to start. I don't mean how to start making money but how to get started at square one by actually picking a business. Hopefully, an entrepreneur picks the right business. Not the right business according to me or anyone else. But what is the right business according to that entrepreneur. Even if you are the already operating a business, perhaps you can maximize your fun and profits by taking on a different function within the business.
This is where Steve Little comes in. Steve Little is the President of Zero Limits, Inc. He is truly a renaissance man. He has been an entrepreneur since 13, he's a champion athlete, and has made tens of millions of dollars and he's still going! He's been rocking and rolling as a successful entrepreneur for more than 40 years now. Steve’s mentoring has helped hundreds of people to break the barriers sabotaging their success and have created their dream life as a result. He has put his knowledge into a program called The Perfect Biz Finder. What it does is help you find your perfect business in 21 days or less. Step by step resources and blog take you by the hand and show you the perfect business that is genetically matched to your DNA.
This is an example of the a Profit and Loss statement for a fictional network marketer named Joanne Networker for May 2009.
Most network marketers talk about how much money they make, but how much you keep is what determines if you really made money (profit), or if you didn't (loss).
Simply put, revenue (money that comes in to you) less expenses (money that you pay out) should equal profit (income).
If your expenses exceed your revenue, as is the case with Joanne Networker, you are in a deficit -- you loss money.
Please review the spreadsheet while listening to the audio.
DO NOT delete anything from the following cells on Tab 1 -- PNL: Total Revenue (B11), Total Expenses (B33), or Profit or Loss (B35). From Tab 1 - 4, don't delete anything from Line 18, column B through Column T.
They contain formulas that calculate totals automatically.
This is not the holy grail or anything like that, but make sure to use this tool as it will help you monitor your cashflow.
For your convenience, there are also tabs in the spreadsheet that serve as weekly expense reports so you monitor your expenditures on a weekly basis.
Well, a more appropriate title would be "The 7 Things Home-based Entrepreneurs Should Worry About".
When a person takes the entrepreneurial plunge by starting a home-based business, be it MLM, direct selling, reslling, or something similar, there are some things that you should consider so you can see the light at the end of the tunnel - and it won't be an oncoming train like the one pictured above!
Let's get right to it...
Company is owned and/or managed by those who have done it successfully, or are doing it successfully in the present
This is very important. For the life of me, why would people follow someone that talks theory and not proven fact. When you select a company to invest your time, energy, and money in, make sure that the leadership understand your pain - they have walked the road that you now want to travel. If they didn't, how can they empathize with and advise you? For instance, I could never teach a woman how to deal with menstrual cramps or childbirth because I never experienced either one. Make sure that you pick an income opportunity where the company's owners and/or management has been successful in doing what you're endeavoring to do for profit.
Company's "old", and market is "young"
Newer companies tend to go through growing pains, and a lot of other changes as they find their way. According to Scott Shane's book, Illusions of Entrepreneurship: The Costly Myths that Entrepreneurs, Investors, and Policy Makers Live By, literally half of start-up small businesses fail within the first 5 years. While fortune favors the bold, it would be best to invest your time, energy, and money in a business that is "old" -- been around for more than 5 years.
The market should be "young", though. I don't mean young in age, but young in the sense of having a growing, expanding market. You want to be positioned in an industry that has a lot of growth potential. For instance, selling 8-track tapes is NOT an expanding market.
Must have a good, competetively-priced product that is consumable or subscription based
I remember looking at a film called The Pirates of Silicon Valley that was a historical dramatization of the rise of Apple and Microsoft. It is a little-known fact that Bill Gates used to work for the owner of Apple, Steve Jobs. When Steve Jobs found out that Bill Gates was using some of his technology to market Microsoft's Windows that was what Steve Jobs considered to be a "watered-down" version of the Apple operating system, he laughed and mocked Bill Gates. Bill Gates said, "You just don't get it. It is NOT about what is better, but which product can best capture market share".
Let that sink in.
Most people I know can make a better burger than McDonald's. Quick question though. Can you sell more burgers than McDonald's?
Okay, back to the point. The product or service that you decide to market doesn't necessarily have to be great, but it has to be good at a competetive price. If it is great, but over-priced, it will collect dust on your shelves.
Also, the product should be consumable or subscription based. That is to say that when people get to the bottom of a box, bag, or bottle they must reorder from you. If it is a subscription-based service like cable television, insurance, a discount medical plan, or a legal expense plan, the consumer must reoder to keep enjoying the benefits of the service. Ideally, the product is on auto-ship or the service is on automatic debit (to the customer's bank account or credit card).
How much, how often, and how many ways will you be paid?
It is paramount that you know this. For instance, if you're a network marketer or an affiliate marketer, how many ways can you generate revenue? Can you retail? Can you get override commissions from your sales team? Can you generate performance bonuses? How often are you paid? Daily? Weekly? Monthly? Also, how much volume has to be moved (i.e. how much must you sell) to achieve your income goals? This can best help you determine the return on investment of your time and energy.
Training and support are provided
Folks, you cannot buy a business in a box. Most of us don't know a thing about running a business, so we need mentoring and coaching. If there is little to no training and support, the likelihood of you succeeding are next to none. Enough said on training and support.
Are you passionate about the company's mission?
Your love of the game will help you through the trials and tribulations that you WILL face as an entrepreneur. If you are not in sync with the company's mission, you will not have the mental toughness and endurance to succeed in your chosen endeavor.
What is the company's culture?
Is the company that you're working with demand that you are Internet-savvy? Do you have to do door-to-door sales? Must you advertise? Do you have to cold call? Are you encouraged to attend conference meetings? Are you encouraged to do home parties? How about trade shows? Also, what restrictions are placed on you marketing your business?These are things to consider about the culture of your chosen business.
Did this blog post help you at all? Please let me know as I am aiming to help. Thanks.
Network marketers spend a lot of time learning about their products/services and sales techniques, but they do not spend time learning business operations.
One critical piece to the business operations puzzle is learning how to manage your cash flow.
The audio and slideshow presentation below sheds some light on this oftentimes overlooked and misunderstood part of running a successful home-based network marketing business.
Well, my parents named me Tyrone, but you can call me Archie.
A few blogs posts ago, I talked about what I call The ARC of the Covenant for Entrepreneurs. Just to refresh your memory, ARC is an acronym that stands for Appreciate, Reward, and Celebrate.
I have since expanded on this acronym and have taken the new moniker of Archie.
Here is what Archie stands for:
A = Appreciate others, and let them know how you feel about them
R = Reward others. Hey, a little token of your appreciation can go a long way
C = Celebrate the success and special milestones of others around you
H = Help others achieve their goals
I = Inspire others by leading by example
E = Encourage other to have the courage to live their dreams
You can have great marketing brochures, a killer website, and an awesome product/service. However, people will buy from those that they like, know, and trust, and the only way that you're going to accomplish that is to build a relationship.
Here is a 10-step follow-up system on how to build relationships with new people that you meet:
First things first, have your "quickie pitch" and your "60-second commercial" prepared
Here is the format for the quickie presentation (approximately 10 seconds long):
My name is ___. I market a (product/service) that (what it does). My ideal customers are (describe target customer). Who do you know who would be interested in learning more about a product/service like that? Let me know, okay?
Here is the format for the 60-second presentation:
My name is ___. I market a (product/service) that (what it does). My ideal customer are (describe target customer). My motto/tagline is (your catchy motto or tagline here). Please let me know if you know somebody that would be interested in learning more about a product/service like that, okay?
1) Approach and Interview the new person and ask "Who are you, and what do you do?" Ask the new contact what they do and who their ideal customer is. Take notes on what they say. Make sure to have a little notepad. Gather as much contact information as possible (i.e. mailing address, e-mail, and fax). Note: If the person is reluctant to give you their mailing address, just tell them that you want to send them product samples or information about your business.
2) Quick Pitch or 60-Second commercial - If they haven't already asked you, ask them if you can briefly tell them about your business. Usually, the quick pitch is the way to go but if the environment allows it, and they person is asking you a lot of questions, go with the 60-second commercial.
3) Graceful exit - Give them permission to work the room, and promise them that you will be in touch as you want to learn more about them and their business.
4) Update your contact manager - When you get back to your office, input their information into your contact management system (e.g. Outlook, Sugar, Act, Goldmine, SendOutCards, Gmail, Hotmail, Yahoo, etc., or an Excel spreadsheet)
5) Email (or fax) them a "nice meeting you" note.
6) Direct mail - Send them a "nice meeting you" greeting card via the U.S. Postal Service. A greeting card is 11x more likely to be read when compared to a letter.
7) Phone call to check-in - 5 business days later, if the new contact hasn't already called you, pick up the phone and call them. Make sure to ask them if you have caught them at a good time! Schedule a phone conference or a face-to-face meeting to discuss business matters. The purpose of this meeting is to learn more about their business to see if you two can somehow help each other out down the road - if the chemistry is right and after you have developed trust.
8) Appointment (face-to-face, video conference, or phone conference) and Exchange Marketing Material. On the phone conference/at the face-to-face meeting, learn all that you can about their business. Ask questions about who their ideal customers are, and what other types of businesses service their target market. At the end of the meeting, ask them to give you brochures and other information about their business, and hand or mail them info about your business. On a face-to-face meeting, bring a small gift. I typically bring a small bag of candies, or some company-branded giveaway like a pen or mug. Sometimes, I'll give them an educational CD (Ivan Misner, Robert Kiyosaki, or David Bach). Make sure to tell the other person that you will be following up on "x" date to discuss what you've read about their product/service, and to get feedback on what they learned about yours.
9) Follow-up phone call - The million dollar question: "So, what do you think?" Commit to them, that as you two get to know, like, and trust each other over time, you will be keeping your eyes and ears open to send business their way when possible.
10) Never stop following-up - periodically check-in with them to to share information and just to say "hi". Mix up and space out your approach. Use text e-mail, audio e-mail, video e-mail, fax, direct mail, phone calls, and face-to-face meetings. Never, ever, ever try to hard-sell them. The info you gave them about your business and your character will do the selling for. Just remind them from time to time what is is that you do, and you'd be surprised how people will buy from you and/or send referrals your way.
TOOLS
You may want to consider adding some of the following to your marketing arsenal:
Autoresponder (for mailing lists, newsletters, and special reports; you may also want to use audio enabled e-mail; and/or video enabled e-mail
Send real greeting cards via the Internet. You can create a personalized greeting card over the Internet in less than 60 seconds. The company's back office prints the cards out, stuffs it in an envelope, and sends it off to the recipient via the United States Postal Service
Telephone/virtual assistant/fax -- also called a unified messaging system.
When meeting face-to-face, give the person a small bag of candy. Keep a steady supply chocolates and other candies. They are available at discount prices.
You may want to also consider video blogging, and broadcasting, and maybe even podcasting and teleseminars.
A lot of my clients, family, and friends like to burn scented candles, so I became a "Candle of the Month" subscriber as candles make great gifts.
If you'd like to know my specific recommendations for the products and services described above, just contact me.
I've had people buy from me because I am pleasantly tenacious in my follow-up. You have to show people that you are really interested in them, and that you believe in your product/service. It is very, very important that during the follow-up, "courting" process, you develop a relationship. People are more likely to do business with people that they know, like, and trust.
Always remember that new customers are the life blood of any business, and the best way to get new customers is through the referrals of other satisfied customers.
Take care of your customers, and they will take care of you.
"Givers gain." - Ivan Misner, Founder and Chairman of Business Network International (BNI)
"Appreciation beats self-promotion any day of the week." - Kody Bateman, Founder and CEO of Send Out Cards, Inc.
"We shower our customers with attention. There is no doubt in my mind that our philosophy can be applied to selling just about anything - from aircraft engines to beanbags." - Jack Mitchell, CEO Mitchells/Richards, author of Hug Your Customers®
I'm a 40-year-old corporate professional and home-based entreprenerur from Queens, New York. My day job is that of an operations manager for a major law firm. With my home-based business, I'm am an independent broker of various products and services relevant to my niche -- solopreneurs and home-based business owners. I also have to say that I'm pretty darn good at training people in relationship building, how to network, team building, and using certain follow-up tools.
