Mirror Mirror On the Wall, Whos the Fairest Of Them All?
| Category: Home Based Business - is it for YOU? | Date: 2003-06-18 |
How do you create wealth? Wealth is created by:
= Finding a product or service that a lot of people want and need.
= Getting repeat business out of it.
= Choosing that product or service by looking at trends and staying ahead of them.
= Employing others so you get more done.
= Employing and training others effectively.
= Not training competitors but retaining leaders in your organization by offering them the same opportunities for growth as you enjoy.
[Source: "Brilliant Compensation" video by Tim Sales and Dr. Charles King, Professor of Marketing at the University of Chicago. Link at the end of this article.]
A PRODUCT OR SERVICE THAT A LOT OF PEOPLE WANT OR NEED
Theres no point pursuing a business selling a product or service for which there isnt a market - a HUGE market.
Whats the biggest market of them all? Baby boomers.
Baby boomers are all people born from 1946 through 1974. They total 76 million people in the United States and 2 billion people worldwide. As at today, theyre the people aged between 38 and 56.
As youll see when you watch the video, every 8 seconds for the next 16 years, someone will turn 56 years old. What does this mean for you? It means dont go after the 38 year olds, go after the 56 year olds. You have a full 16 years to go after 56 year old people looking for your products or services.
REPEAT BUSINESS = CONSUMABLE PRODUCTS/SERVICES
Your product or service must be unique and it must be consumable. If its not unique you have to compete on price and convenience. If it IS unique, your market comes looking for YOU.
If your product is not consumable, youre out of business until your next sale. A successful business requires REPEAT sales of consumable products. This way, youre earning multiple commissions on a single initial effort.
STAYING AHEAD OF TRENDS
Having identified the baby boomer market as THE market to target, when choosing your product or service, in addition to being unique and consumable, it should be one that your average 58 year old is in the market for.
The top five:
1. Health
2. Looking younger
3. Retirement issues
4. Security and money
5. Efficiencies - things that make life easier.
EMPLOYING OTHERS TO GET MORE DONE
There are three basic ways of earning money:
1. Work for someone else.
2. Be a professional - doctor, attorney, accountant, engineer.
3. Own your own business.
In the case of 1. and 2., you exchange your expertise for someones elses money. Unfortunately, however, your capacity to earn is limited by the number of hours in the day. No matter how hard you work, there will only ever be 24 hours in a day.
In the case of 3., if you do it all yourself, you still run out of time and talent. To break through the time/talent barrier, you MUST employ others, thereby leveraging off the efforts of your employees. Thats the key to wealth.
In theory, that is. Only thing is, its very difficult to achieve leverage through employees because no employee will ever work as hard in your business as you do because they dont have an ownership interest in it.
To achieve true leverage, everyone in your organization must have the same potential for growth as you yourself enjoy.
EMPLOYING AND TRAINING OTHERS EFFECTIVELY
To enjoy true leverage, the people in your organization must be productive. You develop productive people by training them effectively, by teaching them how to do what you do so they can turn around and create the same results for themselves. It means investing your time in training people so that they hopefully become at least as successful as you are.
EQUAL OPPORTUNITIES FOR GROWTH
In order to avoid cannibalizing your business by training leaders only to have them leave your organization to set up in competition for themselves, they must have the same opportunity for growth staying in your organization as they would if they left it.
Theres only one way of doing business that meets all these criteria for wealth generation.
Network marketing.
Despite any preconceptions you may have, the fact remains that network marketing is the fairest business model of them all. Why? Because only with network marketing can the member of the organization that creates the larger or more productive organization be compensated commensurately even if that means he or she earns more than those higher up the ladder.
Unlike the traditional hierarchy of an organization of which you are an employee, you know the one - you do all the work and your boss does nothing yet he gets all the rewards - in network marketing it doesnt matter how much money your sponsor earns, if youre more productive, you earn more. And because your sponsor benefits from your success in terms of commissions based on your productivity, its in your sponsors interest to help you be as successful as possible, just as its in your best interests to help those in your organization be as successful as they can possibly be. Win win.
"Its always wise to raise questions about the most obvious and simple assumptions"
C. West Churchman.
Do yourself a favor. If youve got it in your head that theres something illegitimate about network marketing, invest a half hour or so of your time in a bit of education. Watch the Brilliant Compensation video and make up your OWN mind. DONT let other people, no matter how well-intentioned, deprive you of your freedom to choose whats in YOUR best interests. Sure, armed with the FACTS, as opposed to other peoples OPINIONS, you may still decide, for your *own* reasons, that network marketing is not for you. Fine! But a little bit of independent thought may just open up a whole new world of opportunity.
http://www.ahbbo.com/brilliantcompensation.html
© 2002 Elena Fawkner
About the Author
Elena Fawkner is editor of the award-winning weekly ezine, A Home-Based Business Online, a down-to-earth publication containing practical home-based and online business ideas, telecommuting job listings, original articles, free e-books and much more. She also runs the A Home-Based Business Online website at at fawkner.com. You can subscribe to her newsletter at the site.
This article provided by the InfoZone Archives at: http://www.MakingProfit.com
elena@ahbbo.com
http://www.fawkner.com
= Finding a product or service that a lot of people want and need.
= Getting repeat business out of it.
= Choosing that product or service by looking at trends and staying ahead of them.
= Employing others so you get more done.
= Employing and training others effectively.
= Not training competitors but retaining leaders in your organization by offering them the same opportunities for growth as you enjoy.
[Source: "Brilliant Compensation" video by Tim Sales and Dr. Charles King, Professor of Marketing at the University of Chicago. Link at the end of this article.]
A PRODUCT OR SERVICE THAT A LOT OF PEOPLE WANT OR NEED
Theres no point pursuing a business selling a product or service for which there isnt a market - a HUGE market.
Whats the biggest market of them all? Baby boomers.
Baby boomers are all people born from 1946 through 1974. They total 76 million people in the United States and 2 billion people worldwide. As at today, theyre the people aged between 38 and 56.
As youll see when you watch the video, every 8 seconds for the next 16 years, someone will turn 56 years old. What does this mean for you? It means dont go after the 38 year olds, go after the 56 year olds. You have a full 16 years to go after 56 year old people looking for your products or services.
REPEAT BUSINESS = CONSUMABLE PRODUCTS/SERVICES
Your product or service must be unique and it must be consumable. If its not unique you have to compete on price and convenience. If it IS unique, your market comes looking for YOU.
If your product is not consumable, youre out of business until your next sale. A successful business requires REPEAT sales of consumable products. This way, youre earning multiple commissions on a single initial effort.
STAYING AHEAD OF TRENDS
Having identified the baby boomer market as THE market to target, when choosing your product or service, in addition to being unique and consumable, it should be one that your average 58 year old is in the market for.
The top five:
1. Health
2. Looking younger
3. Retirement issues
4. Security and money
5. Efficiencies - things that make life easier.
EMPLOYING OTHERS TO GET MORE DONE
There are three basic ways of earning money:
1. Work for someone else.
2. Be a professional - doctor, attorney, accountant, engineer.
3. Own your own business.
In the case of 1. and 2., you exchange your expertise for someones elses money. Unfortunately, however, your capacity to earn is limited by the number of hours in the day. No matter how hard you work, there will only ever be 24 hours in a day.
In the case of 3., if you do it all yourself, you still run out of time and talent. To break through the time/talent barrier, you MUST employ others, thereby leveraging off the efforts of your employees. Thats the key to wealth.
In theory, that is. Only thing is, its very difficult to achieve leverage through employees because no employee will ever work as hard in your business as you do because they dont have an ownership interest in it.
To achieve true leverage, everyone in your organization must have the same potential for growth as you yourself enjoy.
EMPLOYING AND TRAINING OTHERS EFFECTIVELY
To enjoy true leverage, the people in your organization must be productive. You develop productive people by training them effectively, by teaching them how to do what you do so they can turn around and create the same results for themselves. It means investing your time in training people so that they hopefully become at least as successful as you are.
EQUAL OPPORTUNITIES FOR GROWTH
In order to avoid cannibalizing your business by training leaders only to have them leave your organization to set up in competition for themselves, they must have the same opportunity for growth staying in your organization as they would if they left it.
Theres only one way of doing business that meets all these criteria for wealth generation.
Network marketing.
Despite any preconceptions you may have, the fact remains that network marketing is the fairest business model of them all. Why? Because only with network marketing can the member of the organization that creates the larger or more productive organization be compensated commensurately even if that means he or she earns more than those higher up the ladder.
Unlike the traditional hierarchy of an organization of which you are an employee, you know the one - you do all the work and your boss does nothing yet he gets all the rewards - in network marketing it doesnt matter how much money your sponsor earns, if youre more productive, you earn more. And because your sponsor benefits from your success in terms of commissions based on your productivity, its in your sponsors interest to help you be as successful as possible, just as its in your best interests to help those in your organization be as successful as they can possibly be. Win win.
"Its always wise to raise questions about the most obvious and simple assumptions"
C. West Churchman.
Do yourself a favor. If youve got it in your head that theres something illegitimate about network marketing, invest a half hour or so of your time in a bit of education. Watch the Brilliant Compensation video and make up your OWN mind. DONT let other people, no matter how well-intentioned, deprive you of your freedom to choose whats in YOUR best interests. Sure, armed with the FACTS, as opposed to other peoples OPINIONS, you may still decide, for your *own* reasons, that network marketing is not for you. Fine! But a little bit of independent thought may just open up a whole new world of opportunity.
http://www.ahbbo.com/brilliantcompensation.html
© 2002 Elena Fawkner
About the Author
Elena Fawkner is editor of the award-winning weekly ezine, A Home-Based Business Online, a down-to-earth publication containing practical home-based and online business ideas, telecommuting job listings, original articles, free e-books and much more. She also runs the A Home-Based Business Online website at at fawkner.com. You can subscribe to her newsletter at the site.
This article provided by the InfoZone Archives at: http://www.MakingProfit.com
elena@ahbbo.com
http://www.fawkner.com
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