MLM and Golden Goose Referrals

March 2, 2009

 

golden-goose-31by Lee Abraham

 

Regardless of business category, successful networking is all about training your Power Team to recognize prospects and seize opportunity to create money making referrals for your business. 

 

And that includes MLM. But here’s the catch. Although everyone knows MLM’ers make more money by promoting the business opportunity than the actual products, the MLM’er must first build Credibility with the group based on the products in the Power Team framework

 

Listen, I know MLM’ers want to jump straight into the business opportunity. Trust me, I get it. As the relationship blossoms, training your networking partners to bring prospects for your business opportunity is the logical next step. But it takes time and energy to get there. And we’re not there yet.

 

Like it or not, we’ve got another level of product based networking to discuss before we even think about serving up the business opportunity to our Power Team.

 

Golden Goose Two Step

 

Last time out we looked at Power Team networking from the vantage point of an MLM’er in the Nutritional Products business. Using Key Match Networking© we connected benefits of the nutritional products to the Consumer/End User in each of the Six Key Target Markets the Power Team is already trained to recognize and convert into business.

 

In other words, we’ve already trained the Power Team to be a “Bragging Buddy” for the Nutritional Product business healthy-couplewhenever they come in contact with someone who is Getting Married, Having a Baby, Getting Healthy, etc.

 

Now let’s raise the connection to another level, matching a “Golden Goose” Referral Source to each of the Six Key Target Markets. Think about it. If you want the Power Team to bring prospects who are Getting Healthy, you would love your networking partners to create referral relationships for you with other businesses that also thrive on the Get Healthy Target Market. For example, a Personal Trainer working with people who are trying to get in shape.

 

Target Your Target Market

 

Both the Nutritional Products person and the Personal Trainer will benefit from networking strategically together because they are both dealing with people in the Get Healthy Target Market. It’s an obvious connection.

 

Both can work for the same client, and compliment the other’s product or service, without competing against each other. And for those of you taking notes, both are in the Health and Wellness Contact Sphere. Confused? Read this post on Contact Spheres.

 

Face it: businesses from the same Contact Sphere are the low hanging fruit of networking. Not bad, just easy. And easy is good. So good, we always start building our Power Team with other business categories from our own Contact Sphere.

 

But the ultimate goal of Power Team networking is to recognize less obvious, and potentially more powerful relationships between businesses that appear to have nothing on common.

 

Quick examples:

 

Caterers (Events Contact Sphere) and Life Insurance Sales (Finance Contact Sphere) can both provide a valuable product or service to the “Getting Married” Target Market.

 

Printers (Business Services Contact Sphere) and Pet Sitters (Personal Services Contact Sphere) can both provide a valuable product or service to the “Business Builder” Target Market.

 

Your job: Power Team Investigator. money-trailDig beneath the surface and beyond the obvious. Challenge yourself to carefully examine each business in your network to work your way through features and benefits until you form a clear picture of the Target Market the other businesses serve. You will be amazed at the connections you find to your business!

 

Need more information? Click here for a post on Key Match Networking© between Contact Spheres.

 

Target the Golden Goose

 

OK, enough table setting. Let’s get to it, shall we? Take out your notebook and write down these three easy to follow action steps:

 

1) Learn your Key Target Markets

2) Train your Power Team to recognize End Users/Consumers for your Target Markets

3) Go beyond End Users and train the Power Team to recognize Golden Goose Referral sources for your Target Markets

 

I’ll make it easy for you. Here’s an entry level chart showing six of the most common Golden Geese for each of the Six Key Target Markets.

golden-geese-22

Can You Feel It?

As much sense as this Target Market stuff makes intellectually, the Power Team system only works at this advanced level when networking partners have an emotional investment in each other. Call it “chemistry.” Or the “X Factor.” money-boat2More than friendship and trust, when two people “click” and really care about each others’ best interests, the opportunities to create money making referrals magically begin to appear everywhere they go, and wherever they look. 

 MLM’ers, hoist your “Biz Op” flag and your buckle up your money belts! Next time, we look back fondly on the smooth sailing of product promotion and fearlessly travel into rough waters, training the Power Team to bring referrals for your business opportunity, when our adventure in networking continues… Follow Me on Twitter!


MLM – Healthy Habits for Nutritional Supplements

February 27, 2009

 

idea-light-bulbby Lee Abraham

 

Dave the Nutrition guy took an indirect route into MLM. For him, the journey began with the products. A health nut who witnessed his Mom turn around a serious medical condition with the help of nutritional supplements, skepticism was not an issue. Dave didn’t need to be convinced. Or read the literature. He knew the products worked because he saw the positive results with his own eyes. That’s called “belief.”

 

Dave’s belief was so strong, he started telling people the story of his Mom’s recovery and found himself recommending the same products to anyone who would listen. And a few did. Those people came back with great reports of their own health benefits and a light went on in his Dave’s head. “I wonder if I could make some money doing this?”

 

Learn To Earn

 

A couple of years later on a particualrly nice day, Dave the Nutrition guy sat out on the rear observation deck of his luxury home, looked out over his panoramic Ocean view, and reflected on the joys of leveraged, residual income.ocean-view1 Yes, it took longer than he expected, and more personal development than he planned for, but the results justified the process.

 

Dave realized the vast majority of his business came directly from prospects referred by his Power Team, people already pre-sold on the benefits of the nutritional supplements he represented.

 

With a team of “Bragging Buddies” speaking enthusiastically on Dave’s behalf to people they already knew, business was so much easier than finding each customer on his own. No mystery. Prospects already liked and trusted Dave before they even met him based on heartfelt, enthusiastic recommendations, and were open to his products after hearing the compelling story of his Mom’s dramatic health turn around from someone they already knew and trusted.

 

Recognize Opportunity to Help You

 

While closing deals was a no brainer, training his Power Team to recognize prospects for him was more of challenge. At least at first. And then Dave went through the Power Team training. Suddenly his networking partners began recognizing prospects for Dave’s nutrition business and creating money making referrals they had previously been overlooking.

 

The secret: training his networking partners to connect the benefit of his nutrition products to the Six Key Target Markets the group was already looking for. Confused? Check out this prior post explaining this Power Team “Opportunity Recognition” technique.

 

Six Healthy Situations

 

Getting the most out of the Power Team starts by training your networking partners to recognize prospects for your business biz-trainingand the opportunity to create referrals for you.

 

Gather round. Here’s the story of how Dave the Nutrition guy tapped into the Power Team “Six Key Situation” system to build his business. Each week at his networking meeting, or when he met individually with someone from the Power Team, Dave explained the best way to find referrals for him by describing a prospect in one of the Six Key Situations.

 

Remember, the Power Team has already been trained to recognize the Six Key Situations and then use the “Two Big Trigger” questions to uncover needs which can be converted into a money making referral for someone on the Power Team. Confused? Click here to read a post on this topic 

 

That being said, Dave the Nutrition guy always starts the same way: “If you see an opportunity when you come across someone who is…”

 

Getting Married, tell the happy couple how they can lose weight and look great for the wedding and honeymoon with proper nutrition and our healthy meal replacement system!”

 

Having a Baby, tell the new Mom about our awesome Pre-Natal Vitamins for her and our proper nutrition products specifically designed for babies!”

 

Building a Business, tell the business person they will have more energy and metal clarity with proper nutrition, as well our healthy, quick and easy meal replacements for people on the run!

 

Getting Healthy, tell the person getting in shape that we have losing-weightAward Winning Nutritional Supplements to speed recovery while promoting optimal health with wide variety of products for losing weight and other specific health challenges!”

 

Building a Home, tell the home builder that they will have more energy and mental clarity to do a good job and make fewer mistakes with proper nutrition from our award winning supplements!”

 

New In Town, tell everyone you meet about our Award Winning Nutritional Supplements specially designed for adults and children, as well as a variety of products for specific health challenges!”

 

Four Out of Six Ain’t Bad

 

Granted, the last two examples, “Building a Home” and “New in Town” are a bit of a stretch as Target Markets for Nutrition Sales, but hey, you never know. If opportunity presents itself, at least the Power Team will know how to tie good nutritional supplements into a conversation with relocation transplants and home builders.

 

But let’s look at the glass half full. Or in this case, two thirds full. Focused primarily on the four Target Markets that work best for the nutrition business, Dave always continued training his networking partners with a short, simple real life success story and example of how his products helped someone in those Key Situations. And here’s the extra training step that made all the difference in the world: he specifically asked his Bragging Buddies to remember the story and tell it to prospects.

 

Plus, Dave went the extra mile to create money making referrals for everyone else, motivating his Power Team to keep his best interests in mind. Above all else, Dave learned that creating business for his Power Team was the first step in building a rewarding relationship with his networking partners.

 

Profitability Ahead

 

Up to this point, we’ve talked about training your Power Team to be a Sales Force for your Nutritional Products. And that’s where you should start. Remember, you are building Credibility with the group, time-traveland until you reach that level of trust with the products, people will not promote your business opportunity. 

 

Next time however, hang on tight, we’re stepping into the FAST180 time machine, flashing forward beyond Credibility into a not-too-distant future of Profitability and “Biz Opp” referrals, when our adventure in networking continues… Follow Me on Twitter!


MLM – Make “Lifestyle Money”

February 24, 2009

by Lee Abraham

 

dream-life“Lifestyle Money” is the new buzz. Check around. You will find that blending an income stream seamlessly into your current lifestyle is the business model of choice for today’s leading edge wealth builders.

 

First trick of the trade: jump on board with the business opportunity that best matches what you are already into. That’s where the “lifestyle” comes in. These days there are more types of MLM business opportunities than ever before. From cosmetics, jewelry and cleaning products to travel, legal services and nutrition, just about anything you can spend money on is available through one MLM company or another.

 

A Rose by Any Name

 

Regardless of which opportunity calls your name, all MLM, or “Network Marketing” business opportunities have several common features and benefits that your Power Team needs to understand and believe in, to be an effective “Bragging Buddy” on your behalf.

 

Let’s start with another new term, “Home Business Franchise.” Running a “Home Based” business is all about flexibility. When and where you work the business is up to you. Want to wear those fuzzy bunny slippers home-officewith the matching bath robe while coaching your sales force or placing product orders with HQ? Go for it! Need to walk the dog and get on a corporate conference call at the same time. You can!

 

Perfect for stay-at-home parents, people with disabilities and folks living in remote locations, Network Marketing levels the playing field like no other business model. Plus, there is no formal education required. MLM is truly an “equal opportunity” with no bias on age, race or gender.

 

So whether you build your business over lunch, in the nooks and crannies of your life, or as a full time gig wheeling and dealing among the masses, you can make money from home with Network Marketing if you have the discipline to be your own boss!

 

Less Taxing

 

Like any business operating from home, MLM creates some terrific Tax Shelter benefits, enabling you to deduct a portion of your living expenses (rent, mortgage, utilities, travel, etc.) on your income taxes. Bottom line: even if you don’t make a big income, Network Marketer’s enjoy some well deserved tax relief!

 

But wait! You want BIG income? No worries. MLM packs a money making one-two punch that’ll knock your socks off. Forget the fear. Step into the ring chanting “Leveraged, Residual Income” and you will happily stand toe-to-toe against the competition, slugging it out with your eyes on the prize and the heart of a champion!

 

Train the Team

 

Just like all the other Power Team Networkers, MLM’ers must train the rest of the group to be a “Bragging Buddy” for their business.biz-team-3 In other words, the Power Team needs to know how to quickly tell a prospect why you are the only person they need to talk to for your particular product or service. And in your case, that includes people who are looking for another stream of income and a home based business!

 

So get out your notepad. Jot down a few points on what we’ve already covered. Our goal is to explain your Network Marketing business opportunity in small, bite size pieces that your Power Team partners will remember when they shift into “Bragging Buddy” mode on your behalf.

 

Start with time flexibility, then the tax benefits of a home based business. Put the concepts into your own words. Have a very simple real life success story to breath life into these basic elements of MLM’s allure. Got it? Now let’s give ‘em the big money shot and take a closer look at how to explain “Leveraged, Residual Income.”

 

“Leverage” means you’ve got a “downline,” people you personally sponsored into the business who duplicate your efforts. Every time the downline sells a product, or better yet, personally sponsors someone else into the business to duplicate their efforts, you get paid!

 

“Residual” means the checks keep coming. Just about every current MLM opportunity is based on customers receiving product automatically on a monthly basis. And every time the product is shipped, you get paid. Keep a customer happy and you keep getting checks! Sort of like owning rental properties except there are no tenants, roof repairs or vacancies to deal with.

 

Start With the Product

 

Although we’re off to a good start, I hear the MLM’ers out there, moaning and groaning that Power Team networking is a slow, indirect way to build a business. And it is. But just like MLM, a Power Team leverages your time and energy, while feeding you an ongoing, residual stream of money making referrals. Sounds good, doesn’t it? Of course it does. So roll up your shirt sleeves and let’s get to work! Your job? Decide which type of product best matches your lifestyle. From there, we’ll find the best MLM company in that market.

 

healthy-peopleMake no mistake, working with a product line you believe in and use regularly is mandatory for building an MLM business with Power Team networking.

 

Need help? How about this: everybody wants to be healthy and look great. Including you! So what do you say we start there and get into the specifics of MLM and Nutritional Products, next time, when our adventure in networking continues… Follow Me on Twitter!


Money Talks – Learn the Language

February 12, 2009

By Lee Abraham

 

bragging-buddy-53Last time out, we watched our favorite Realtor, Manny Goodbuys, create an ongoing stream of money making referrals for the Chiropractor in his Power Team business network. 

How? By giving an enthusiastic and compelling recommendation to a Personal Injury Lawyer and suggesting the two get together to talk about referring business back and forth.

A little further back in our networking adventures, we observed Dave the Nutrition Guy talking to an expectant mother about Pre-Natal vitamins and then asking a couple of  simple questions that resulted in business for the General Contractor, Attorney and Life Insurance person on his Power Team. 

What Questions?

Dave has been trained to recognize that people expecting a new baby often want to make changes around the house before the baby arrives. In our example, the prospect needed to enclose a covered patio off the master bedroom to serve as a nursery for the new baby.

Further, young parents almost always know question-art2they should protect the growing family with a Will and Life Insurance, but too often don’t take the time to do it. 

After asking a couple of questions and helping the prospect recognize their own need, he gave enthusiastic and compelling recommendations for the General Contractor, Attorney and Life Insurance person. That’s right, Dave the Nutrition Guy created money making referrals for all three!

Side note: Dave’s networking partners are even more motivated now and on the lookout to return the favor and make business for him.

Nuts and Bolts

Are you ready for the big money shot? Yes? OK, great! Write this down: Opportunity is often disguised as work.

As we mentioned, Dave the Nutrition Guy was trained to not only recognize opportunity, but how to seize it and create money making referrals for his Power Team. I would like to show you how to do the same thing. That’s where the work comes in. 

Here’s the process:

target-follow-up21) Identify your Contact Sphere
2) Recognize which of the Six Key Situations are no-brainer referral frenzies for your Contact Sphere
3) Make the connection of which other Contact Spheres also thrive on the Key Situations that work for you
4) Learn the Golden Goose referral sources for each of the Six Key Situations so you can create ongoing streams of referrals for your Power Team 

Your Business is Your Business

Every business can be categorized into one of six Contact Spheres. Sometimes more than one. Let’s save that concept for later. Right now we are going to keep things simple. It is critical to know which Contact Sphere your business belongs to as the first step toward building your Power Team. 

So let’s eat the elephant one bite at a time and start with a review of how to identify your Contact Sphere. Good news? I’ve already done my part… click here to learn what you need to know about Contact Spheres!

Key Match Networking™

Now that you know which Contact Sphere you are in, it’s time to identify which of the Six Key Situations connect with your Contact Sphere to create the most referrals for your business. red-flag-25Not sure what the heck these Six Key Situations are? Click here for a crash course on the Six Key Situations.

Key Match Networking™ uses these Six Key Situations as “red flags” to help you more easily recognize opportunity and generate money making referrals for your Power Team. To keep things simple, here’s a very brief overview of the top one or two best Key Situations for each of the Six Contact Spheres:

Events: Getting Married
Real Estate/Finance: Building/Improving Home and New Business
Wellness: New Baby and Get Healthy
Home Improvement: Building/Improving Home and New Baby
Business Services: Building/Improving Home and New Business 
Personal Services: All Six Key Situations

What’s Next?

Once you have identified the Key Situations that work best for your business, you can then recognize the other Contact Spheres that also thrive next-time-55on the same Key Situations as you. From there, we get into Key Match Networking™ among the Contact Spheres. 

Finally, recognizing the people and businesses that are Golden Goose referral sources for each of the Six Key Situations puts you in position to be a referral Creator for someone on your Power Team everywhere you go. So, what do you say we go there together, next time, when our adventure in networking continues… Follow Me on Twitter!  


Turn Lame Duck Networkers Into Golden Goose Referrals

February 10, 2009

By Lee Abraham

chiropractorDr. Hugh Needatwist is a Chiropractor who built his business with word-of-mouth referrals. Same with Manny Goodbuys, the Realtor in his Power Team business network.

Although the two networkers are from different Contact Spheres (Health & Wellness vs. Real Estate & Finance), there are countless ways the two very different businesses can generate business for each other.

Order Takers

Manny the Realtor is working with a middle aged couple moving into town from another State. Driving around looking at houses, the chit chat flows non stop. One minute it’s all about their kids and pets, the next a rapid fire Q&A on local restaurants.

And then the topic turns to local doctors. All of a sudden, the husband blurts out, “I just remembered… do you know a good Chiropractor here in town? My back is killing me. I’m sure gonna miss good old Dr. Popalot back in Toledo!”

Turns out the couple was in a car accident several months ago and have been under regular Chiropractic care for neck injuries. Like most folks, they only want to work with a Chiropractor they can trust. And as is often the case, clients moving into a new town ask their Realtor for recommendations on everything from restaurants and pet sitters to eye doctors and, yes, Chiropractors.

Manny instantly becomes Dr. Needatwist’s “Bragging Buddy” and says, order-taker1“Yes, as a matter of fact, I do. Dr. Hugh Needatwist is great! He’s the only Chiropractor I let work on me on my family. He’s not only a really nice guy, he’s very good at what he does. Here’s Dr. Needatwist’s card. Would you like me to have him give you a call?”

In this scenario, Manny is an “Order Taker.” In other words, someone asked a direct question, “Do you know a good Chiropractor?” All Manny had to do to create a referral for the Chiropractor is respond to the question.

Connectors

The next day, Manny is at the office Sales Meeting. One of the other agents is in obvious discomfort walking with a limp and continually rubbing his neck.

Manny walks up to the other agent and asks “What happened?”

“I was doing some trim paint on the outside of our house yesterday,” the agent says, “I slipped off the ladder, landed on my back and have been in pain ever since!”

“Do you have a good Chiropractor to help you recover?” connectorManny asks. “I’ve seen my Chiropractor, Dr. Hugh Needatwist, help lots of injured people get out of pain. In fact, I see him myself. He’s very gentle and can help you feel better without prescription drugs. Would you like Dr. Needatwist’s card or can I have him call you?”

In this case, Manny is a “Connector.” He saw someone in obvious pain, made the connection that the Chiropractor can help, and took an active role asking the prospect if he would be interested in the Chiropractor’s services.

Creators

Later in the day, Manny is at a Chamber of Commerce mixer. One of Manny’s friends introduces him to a Personal Injury Lawyer.

Manny recalls the Chiropractor on his Power Team is looking for introductions to Personal Injury Lawyers because they are a “Golden Goose” for his Chiropractic business.

In other words, Personal Injury Lawyers frequently recommend Chiropractors (as well as Massage Therapists, Physical Therapists, etc.) to their injured clients.

After a little small talk, Manny transforms into a Bragging Buddy of the highest order, a referral “Creator.”

 shooter“I do a lot of networking with a terrific Chiropractor named Dr. Hugh Needatwist,” Manny says in an enthusiastic tone. “In fact, he’s the only Chiropractor I let work on me and my family. Doc Needatwist is just a really nice guy and he’s very good at what he does.”

Manny is now poised as a referral sharp shooter. Target in sight he carefully takes aim before pulling the Trigger question. “Dr. Needatwist told me he is looking for a Personal Injury Lawyer to refer business back and forth with. Apparently some of his patients ask for Personal Injury Lawyer recommendations, and as I said, he’s great at what he does.

“Would it be OK if I gave Dr. Needatwist your card so you two can discuss referring business back and forth?”

Who Knew?

As a result of meeting regularly to learn about each other’s business, Manny knows the Chiropractor wants to be introduced to Personal Injury Lawyers. The reason is obvious: Lawyers can be an ongoing source of business for a Chiropractor.

Seizing opportunity and singing the Chiropractor’s praises, the Realtor is proactive, asking if it would be OK for the Chiropractor to make contact. 

Three Levels of Referrals

Got your notebook? Let’s nail down three very important terms:

Order Taker: Passive Bragging Buddy reacts to a direct question: “Do you know a good Chiropractor?”

Connector: Active Bragging Buddy recognizes a Visual Target (someone limping, rubbing their neck or in obvious discomfort) or a Target Phrase (“I fell off a ladder,” “Car Accident”) and approaches the prospect as a Bragging Buddy.

golden-goose1Creator: – Proactive Bragging Buddy recognizes and approaches a Golden Goose source of ongoing referrals for the Power Team.

Next time out we light a fire under your Power Team’s “Lame Duck” Order Takers and serve up a silver platter of Golden Goose referrals, when our adventure in networking continues… Follow Me on Twitter!


New Babies and Big Referrals

February 8, 2009


new-baby-3Dave the Nutrition Guy is talking to Ima Newmom, a young woman in her early 20’s. Ima is expecting her second baby in less than two years and was referred to Dave by her Mom, the Realtor in Dave’s Networking Group. The topic is Ima’s lack of energy and finding the right pre-natal vitamins.

A top notch networker, Dave’s referral radar is on alert. Why? He recognizes the “New Baby” Key Situation as a one of the biggest Power Team Targets he’s been trained to look for.

After answering all of Ima’s questions, making product recommendations, and placing the order, Dave puts away his product information and price sheets. He pauses for a brief moment, then looks deep into Ima’s tired but cheerful eyes. With a simultanious tilt of the head and slight squint of the eyes, subtly signaling sincerity, he asks, “So, how is everything else going with getting ready for the new baby? Are you changing things around at the house, and doing all the planning stuff like writing your Will and getting Life Insurance to protect the baby?”

Suddenly Ima is a little less cheerful and a little more weary. The look in her eyes acknowledge that Dave hit a nerve. Dave smiles. For starters, he is going to help Ima in more ways than just Nutrition. And to do that, he is about to create a few money making referrals for his Power Team!

Networking Sharpshooter

For those of you taking notes, Dave has not only identified the Target (New Baby Key Situation), he just pulled the Trigger, with a couple of carefully crafted questions to expose a need he can convert into a referral for someone on his Power Team.  

Guess what? It worked! Ima and her husband want to convert a covered patio off their master bedroom contractorinto a sitting room to use as a nursery for the new baby. Bingo – referral for the General Contractor! 

And yes, they’ve thought about a Will and know they need Life Insurance, but the young couple have been too busy with everything else to make those arrangements. No worries. Dave’s people will make the process easy! 

In fact, Dave gave such compelling recommendations, not only about the products and services, but how much he likes and trusts the people, Ima agreed it was time to get the growing family’s affairs in order and meet with Dave’s Power Team partners. Ima was so eager to get started, she gave Dave her number and asked that his Power Team partners call her right away! 

Lucky Guess?

Why didn’t Ima’s mom see the connections between her daughter’s needs and the prodcuts and services of her Power Team? Because she is more of an “Order Taker” than a referral “Creator” and overlooked the opportunity. She never asked and Ima hadn’t mentioned that among everything else going on in their busy life, she and her husband were thinking about a room addition, not to mention a writing a Will and taking out Life Insurance. 

Does that make Dave the Nutrition Guy lucky? Absolutely not. Dave knows that along with his Nutrition Business, which is in the Health and Wellness Contact Sphere, businesses in the Home Improvement and Finance Contact Spheres also share the New Baby Key Situation as a gold mine of referral opportnities. By asking a couple of Trigger questions to expose a need pertaining to the products and services of his Power Team partners, Dave has demonstrated masterful use of his networking Ammo belt:

Find Target: New Baby Key Situation
Pull Trigger: Asked two questions to expose a need
Fire Bullets: Gave compelling recommendations that resulted in money making referrals.

next-timeWouldn’t you like to have Dave the Nutrition Guy on YOUR Power Team? Better yet, wouldn’t you like to have a Power Team full of networking sharpshooters just like Dave, regardless of what business they are in? Hang on amigo, because that’s where we are going next time, when our adventure in networking continues… Follow Me on Twitter!