In Part 1 of the “Wellness Industry” series, we discussed the first advantage of a business in the wellness industry over other professional involvements. It began with the first letter in W-E-L-L-N-E-S-S: Wellness Advantage. This article features advantages 2 and 3, beginning with letters “E” and “L.” For the next article in the series, go to Part 3. For a list of all articles in the series, go to http://mlm.com/mlm_author/infotraxsystems.
First, let’s review the principal advantages you have with an MLM business in the wellness industry:
- W—Wellness advantage. You are part of the wellness industry—one of the most robust and promising sectors of the economy—with a prospect of becoming the next trillion-dollar sector.
- E—Easy to learn. The skills and procedures needed for success are easy to acquire and put into practice.
- L—Leveraged income = residual income. By empowering partners in your business, you can generate residual income from the very beginning using a system that works for you 24-hours a day.
- L—Low overhead. Your new business is relatively inexpensive to launch. You can begin immediately, with low overhead and low start-up costs. Your long-term investment will largely be in time and energy.
- N—No time clock. This is an ultimately flexible enterprise. You control your time involvement, with complete freedom and flexibility to accommodate and balance your various personal, family, and professional needs.
- E—Expandable. You can start part-time, if you choose. You can follow your own preferred growth pathway. You can proceed systematically at your own pace and then advance to allow your business to become your dominant full-time career.
- S—Self-directed. You are your own boss. You are the president of your own company—with the opportunity to expand and grow in almost unlimited scope, based on your personal commitment, creativity, and leadership.
- S—Satisfaction of helping others in a noble cause. You can have the satisfaction of knowing that you are adding value to the lives of those you serve.
E: Easy to Learn
The second advantage to your new business is that it’s easy to learn. The skills and procedures needed for success are easy to acquire and put into practice. You’re not taking up brain surgery or space flight technology. You’re learning to become a highly successful network marketer, something you can master in a relatively short period of time.
There are really only five fundamental operating skills you need to understand and acquire in order to be successful with this kind of business:
- Generating a dynamic prospect list.
- Making appointments that stick.
- Presenting the business opportunity effectively.
- Following up consistently.
- Empowering other people to launch the business using your pattern and example.
You can do these things very well with a little study and practice. Management expert Peter M. Senge has put it very well: “Learning is too important to leave to chance” (Executive Excellence, March 1997). It’s up to you to take the initiative to become a master at your new trade. Fortunately, there are helpful resources close at hand. This series of web-based training units includes material covering each of the five skill sets mentioned above, plus many other associated topics.
The Flip Side of the Coin
Here is the flip side of the “easy to learn” coin: You need to guard against the “easy in / easy out” syndrome. Sometimes an easy entrance invites an easy departure, especially when the going gets tough. So make sure you launch your business with an irreversible commitment to reach the destination of financial success—no matter what. Think success, dream success, and live success. As Norman Vincent Peale said, “What you project in your mind as a probability is likely to result in fact…. Anticipate a good day, and it will be” (Executive Excellence, June 1997).
L: Leveraged Income = Residual Income
The third powerful advantage to your new business is that it is based on the principle of leveraged income, which is residual revenue generated by a network of partners and associates working at the same time and for the same cause.
Leverage works like a lever resting on a fulcrum—if the fulcrum is located close to a heavy load, you can lift the load with a small amount of force. By building and effectively empowering a small army of sales leaders, you are leveraging your own time and energy investment and realizing excellent returns. Your team can generate residual income 24 hours a day, even when you are focused on other aspects of your life, such as family, community, travel, and so forth.
The good news is that you don’t need hundreds of front-line distributors directly beneath you to achieve your goals. It takes only a handful of fully-activated sales leaders to make the principle of leverage work wonders in your favor.
The Flip Side of the Coin
But, there is a flip side to “leveraged income” coin. You have to do your part. You must always see to it that you are personally, skillfully, and strategically applying your sales force to your end of the lever. That means keeping your partners engaged and active in duplicating your good example, responding immediately to their requests, and providing ongoing training and motivation every day. This empowers your sales leaders and keeps them working effectively toward the realization of their goals.
Part 3 of this series features items 4 and 5 above in the list of advantages of an MLM business in the wellness industry: “L” – Low overhead and “N” – No time clock.
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