7 Days, 7 Insider MLM Secrets – Day 7

by louabbott on July 1, 2010

The top three reasons why most participants in the MLM industry fail, even if they work very hard, and what YOU must do to turn it around

This last day’s material is arguably, the most important day in this series
(with the exception of the Bonus Day*).

I view it as a big part of my role to act as a success coach for people.  I say this, in case you haven’t noticed already, because I think it is important that someone tell you the whole truth about MLM and Network Marketing.

There’s no question that you will find many people who will tell you…

“It’s easy!  Just sign up with me.  All you will have to do is call a few of your family or friends and you will be on your way.  In fact, you don’t even have to do that.  Just call a few leads, we will even give them to you.”

There are people everywhere who will tell you what you want to hear to get you to sign up.  There are also plenty of people who will whisper sweet nothings to you in order to get you to buy their leads, books, tapes, etc.

Our role, at MLM theWholeTruth.com, is to tell you The Whole Truth.  Without that, we would really not be helping you at all.

Now, I say all this, because you may not like some of what I am going to tell you here…

I believe that most people lose money in MLM for three reasons, and three reasons alone.  While that is the bad news, the good news is if you are willing to address these, you have a shot at making a fortune.

It does not matter if you are male or female.

It does not matter if you were born rich or poor.

It does not matter if you have a sixth grade education or a PhD.

It does not matter if you are black or white, or green for that matter.

It does not matter if you are handicapped in any way or are a specimen of the Olympic ideal.

You can make a fortune.  You can achieve all of your financial goals.  You can enjoy complete financial emancipation. You can own your own life and future.  And, you can get to the point where you never have to call anyone “Boss” again.

There are certainly no guarantees, but IF you are willing to address, learn, and apply what you learn in three areas, you can!

If you fail to address these three areas, all three, you will fail to make good money. Period.

Oh you might, if you are with a very good company that meets all of The 12 Critical Success Factors™, make some – a few hundred up to maybe a thousand or so per month, but not anything like a six-figure annual income for life.

I know that may sound intimidating, but it is true.  Don’t let anyone “BS” you differently.

The good news, is that you can learn what you need to learn relatively quickly and at a very low investment compared to any other kind of business or career that has the huge potential of Network Marketing.  And, you can do it in your spare time, at your own pace, without having to go back to school, and at any age in life.  Heck, I started down this path when I was 41 years old and it has made it possible for me to fund the whole second half of our life in style.

But you do have to invest your time and energy to learn what it takes in these three areas.  You will then be steadily learning how to work smarter.  You will then be building your own future business, not your boss’s.  But I repeat for emphasis – there is no magic system or “deal” that is a shortcut.

Now, I discuss in detail the first two “challenges” and their solutions in one of the bonuses included with our MLM The Whole Truth Special Report and Course …

#3 – Most people have never learned the skills necessary to succeed.

Critically, that starts with the right belief systems and builds from there.  I will share with you at another time what has helped me the most.

#2 – Most people simply do not have enough good people to talk to.

That is a HUGE topic! There is much to say about it and it covers all kinds of prospecting and marketing online or off.  So I won’t talk about it today.  (But just wait until tomorrow!*) Most successful teams have training programs provided by their leaders.  (For our business, we offer extensive Internet Marketing training as we believe that is the most empowering and valuable skill to learn for this decade and well beyond.)

But do allow me to draw your attention to the #1 reason for failure and the reason I created MLM The Whole Truth” …

#1 – Most people are ‘drilling for oil’ where no oil exists!

Remember from Day 1?  Reliable, Long-Term, Leveraged, Residual Income is like having an oil well in your front yard.  It churns out dollars day in and day out for weeks, months, years, even decades.

Why do I put “drilling in the wrong place” as the number one reason most networkers fail?  That’s easy.  Because no matter how great your skills and knowledge are, no matter how many good people you have to talk to about your business, if the company you work with fails or is lacking too many of the basic fundamentals for long-term success, all your work will have been for naught.  Here’s the #1 Secret we discussed on Day 1.  I am repeating it here for emphasis…

It doesn’t matter how many marketing tools a “distributor” has, or what “great system” they use, or how incredibly life-changing the products are, or how many great people they have to talk to, or who your “upline is,” etc., etc., etc., if the fundamentals of the business they are building are wrong, they will never build a reliable, long-term, leveraged, residual income!

This is the number one reason most networkers fail.  Even the very good ones.  I know one top earner that has earned a seven figure annual income at times.  He talks about the power of leveraged residual income in every presentation and in every training.  But he is now building his fifth MLM network with his fifth company!  All of the companies have fallen short.  May I humbly suggest, that he has no idea what it really takes to enjoy a truly Reliable, Long-Term, Leveraged, Residual Income? (Or, he does know, but he just can’t admit the truth to himself, much less anyone else.)

Remember also Jim’s story from Day 1? I will repeat it, because I didn’t finish it…

“Let me tell you a terribly true story…

“Jim,” an extremely successful San Francisco executive with international sales and marketing experience, joined a better than average MLM company, worked hard for three years and was one of the most successful new distributors the company had seen in years. Not surprising, Jim had succeeded in every business venture he ever entered. Everyone was admiring his success. If you looked at his check, you would probably have been impressed.

Everything looked promising for him. Significant “leveraged, residual income” that could see him through his retirement years in style looked like a real possibility.

The truth be known, though, he was not even making a profit.

The costs of doing business, simply put, exceeded the size of his commission checks. His expenses exceeded his income. (Of course, almost no one knew that!) In fact, after even two more years, a total of five years of intense work, he was almost broke. Then the company changed the compensation plan – radically.  Then they sold out. The new owners made more changes. Then the new owners sold out.  Checks that were in the five figures range monthly at the peak of his business diminished to the low four figures. The promised “residual income” was drying up faster than a puddle of rain in the desert sun.

When reality set in, it was the most depressing reality he had ever faced. He had given up years of healthy six-figure income from the career he left behind in order to build this new business. He had lost the respect of many of his friends and family.  What in the world could he do to secure his retirement with the now shortened number of years he had left at age 62? With huge family obligations still to meet, he had always carried large life insurance policies.  The thought crossed his mind more than once that he was worth more dead than alive.  For a period of time, I was actually worried that the end of this story might be Jim’s suicide.  I did everything I was capable of doing to prop up his and my failing businesses (and lost a small fortune in the process), but ultimately it proved futile.  Our businesses failed.  The good news is that Jim ultimately recovered and found another business, but it is not multilevel marketing – he says he will NEVER do MLM again.

What went wrong? Here’s the answer…

His company lacked 6 of The 12 Critical Success Factors™.

It is also what has gone wrong with company after company after company for decades as each copied the mistakes of the companies that came before them – with very few exceptions.

The 12 Critical Success Factors™ are basic business 101 fundamentals.  Absolutely necessary, vital and critical fundamentals if your goal is to build a business that will last you a lifetime and beyond, not a business that lasts you a lunchtime!  I have discussed four of  “The 12” in these last 7 days along with other principles, truths and “red flags” that are critical to your long-term success.  I hope you will use and teach them.

When it comes to analyzing whether specific MLM companies can really work, however, reason and fundamentals are regularly swallowed up by the voracious appetites of emotion, greed and hype.

Simply put, it is a minefield out there when it comes to choosing the right company.  Most of what is taught is grossly incomplete.

You need, first, to make sure you are with a company where ALL of the basic fundamentals are in place for long-term success.

Get Your MLM The Whole Truth Special Report, Course  and Bonuses Today

If you are already in such a rare place, you need to make sure your organization and prospects can appreciate it!  First, teach them the fundamentals that make for the most incredible kind of income in the world.  (I will let you know later about our affiliate program that will help you to do just that!) Then, make sure they learn also who to talk to, and how to do it.

It will give you all 12 of the Critical Success Factors

I wish to thank you for allowing me to come into your home through this series of emails.  I hope you have found the information thought-provoking and valuable.  It has been my goal to deliver to you some of the things that have taken me years to learn, things that may save and/or help you realize all of your desires and dreams.  I hope also, perhaps, to have found a new friend.

If you would like to give me any input, feel free to write me at my email address or simply comment below.

*Tomorrow?  “No, I thought you were only giving away 7 days,” you say.

Tomorrow, I would like to give you a Bonus Day as a thanks for sticking with me for these first 7+ days.  It would be no exaggeration to say that it has some of the most valuable, insider information yet.  It even gives you the profitable solution to . . .

The Second Biggest Challenge of the MLM, Network Marketing Professional
How to create an affordable, endless stream of high-quality prospects.

“See you” tomorrow.  Watch for it!  It is powerful information that 95% of leaders don’t even know.

I wish you the very best of success always.

Sincerely,

Lou Abbott's signature

Founder of the new…
MLM-theWholeTruth.com for people who want to know the up-to-date, whole truth about the industry.

P.S.  Get all the details about the acclaimed, MLM The Whole Truth Course at:

www.MLM-thewholetruth.com/12sfoffer.shtml


“To attract attractive people, you must be attractive. To attract powerful people, you must be powerful. To attract committed people, you must be committed. Instead of going to work on them, you go to work on yourself.  If you become, you can attract.” – – Jim Rohn

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Seminar by clicking here.

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{ 8 comments… read them below or add one }

Pham Tuan January 19, 2013 at 1:43 pm Thumb up 0 Thumb down 0

Hi Lou,
Thanks for everything you have gave me through 7 insider MLM Secret. I have learned a lot of things from you about MLM. Please do me a favor to let me know something about a company name is Worldventure Dreamstrip. It is locate at TX and expanded to a few countries in the world. Is it a good company for me joint in?
Thanks.

Reply

realwealthmasters@gmail.com November 22, 2011 at 2:05 am Thumb up 1 Thumb down 0

That is a great rich content that really touches on the main areas that most of us pursuing MLM fail to address. Thank you and thank you again Sir.

Reply

claudette September 10, 2011 at 7:41 am Thumb up 0 Thumb down 0

Iam interested in an MLM if you could suggest a good company I was thinking about Avon what do you think

Reply

Jody Jackson March 26, 2011 at 2:26 pm Thumb up 0 Thumb down 0

can not login password sent does not work thank you

Reply

louabbott March 27, 2011 at 2:02 pm Thumb up 0 Thumb down 0

Hi Jody,

If you would like to call, me, I’ll be happy to test it for you

Lou Abbott
Founder
http://www.MLM-theWholeTruth.com
…for people who want to know the whole truth about the M.L.M industry

Founder
Lou Abbott’s Insider’s Club
http://louabbott.com

804-308-3228

Reply

Virginia Chow September 30, 2010 at 12:59 pm Thumb up 0 Thumb down 0

Success is not to be a failure. Failure is when you settle for less when you have not give it your best shots. Failure is when you are ignorant, when you are lazy…Brian Tracy….

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thejob_2000us@yahoo.com August 1, 2010 at 9:47 am Thumb up 0 Thumb down 0

It was informative and I appreciated you for letting me know what to look ifor in an MLM company. Thank you.

Reply

lea July 17, 2010 at 6:13 pm Thumb up 1 Thumb down 0

Many things you say are common sense when going in to a business. Research, check it out and do the math. I think mostly building a base and paying them better will insure a stream of referrals. Some people only want to make a small amount each month. Building them up to fail is not a good ethical idea but neither you want to stop them for trying…best to give them the tools, be realistic and see what happens.
I agree with internet marketing strategy being important. Be visible to those who need your product…and let them come to you…is best.
Frankly I think mobile home park well managed are the best investment. No homes to repair you just collect rent and manage the property.
A 10% return is not bad after expenses.
I may try MLM if you can suggest a great company…Never know I may like it.

Thanks for the tips..learning is a life long journey… lea

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