How I Built Multi-Million Dollar MLM Businesses And It’s Not What You Think!
Most people think that if you join a company with a great product, then you have the advantage of making it big in the industry.
I’m here to tell you that’s not a formula to go by. There are a myriad of things to consider when it comes to evaluating a product based company.
The quality of the product, it’s use value and features, its marketability and desirability in the marketplace, the problem it solves and the need it fills, and how likely customers are to re-buy it and develop feelings of loyalty to it are some of the factors to consider when joining a product-based company.
And there’s more…. But we’ll talk about those more when we get to the chapter on “products”.
Today, I want to help you focus on the question of PRODUCT TIMING.
Most companies start up and launch products that are in reality just white-labeled, or repackaged, or re-branded, or re-marketed duplicates of what is already out there in the marketplace.
But the drama is in the details.
Rarely do companies offer something new all together in the network marketing space or bring an old offering to the market in a COMPLETELY new way.
From a corporate perspective, it makes a whole lot of sense to launch a product vertical that the owners know will work, have experience with, know there is a need for it in the marketplace, and can prove it with metrics.
It’s much more risky to launch a new product vertical that no one has been successful with, or no one has tried before.
Launching an original product that has never been sold through a network marketing distribution model or never been sold in a particular state, country, or province presents a variety of new legal or logistic challenges.
Let me share with you a personal story of the power of joining or being a part of a company with a service/product that has upside TIMING potential.
The first company I had real success in, where I had my first 6 figure year in MLM and where I helped create 6 figure earners in the dozens year after year, started in the 90’s re-selling traditional home phone long-distance service.
There was nothing new or exciting about selling long distance service. It was an old technology that everyone used and was familiar with.
But what WAS new at the time was how it came to be marketed.
The de-regulation of the telecommunication industry that was full blown into effect in the 1990s enabled consumer choice. Customers who only had one choice for their phone company now had the power to chose their provider.
This allowed innovation to flourish not just in the telecom industry but also in the network marketing space.
A few MLM Companies capitalized on this boom by capturing a piece of the market share.
They launched telecommunication service companies where distributors could sell local and long-distance calling services.
Thousands of telecom-network marketing millionaires emerged from this unique marriage between the telecom and network marketing industry.
De-regulation not only created a new boom for new firms but it also created a space where telecom-services now could be marketed through the MLM business model when it was previously impossible.
That’s exactly what the owners of the MLM company I was with did.
They took advantage of this new de-regulation gold rush and offered a service that is familiar to the market place but in a whole new way via the network marketing model.
I joined the company understanding the value of this unique timing and my momentum in the company exploded.
Two years into my time with this company, the owners took advantage of another technological boom and pumped it into their MLM business model.
This was the time when the broadband service with faster upload and download speeds was making video communication finally possible in real time.
Hi-quality video streaming communication solutions were being developed and offered through computer apps and webcams as well as physical phones with screens and cameras.
It wasn’t surprising that the owners of the company were at the forefront of leaders to take advantage of this advanced technology to market it through their MLM.
The video-telecom product they introduced to the company had unparalleled quality and emotional appeal that WAS NOT available ANYWHERE ELSE.
I rode the wave of this product’s unique timing too.
This unique timing proposition attracted thousands into my organization. At one point, I was selling at least a 100 video phones DAILY through the collective work of the team I led.
And while I produced hundreds of success stories, the company pumped out more millionaires.
WHY?
Because, it was the first time this NEW technology was available to the market.
If you’re a millennial reading this, this was way before FaceBook, MySpace, and Skype existed.
So for the first time in history, a powerful product, with a massive demand, was only possible through our company.
But what felt like almost suddenly this magic timing of joining this company was over.
The day iPhones came out and FaceTime became available, our product vertical was made obsolete.
At first, video communication was possible only iPhone to iPhone, so we still had a niche market outside iPhone users to target.
But soon video chat between different devices was introduced and people were able to video connect using different mobile apps from any device.
Almost overnight, the technology I marketed so successfully through my company was now dead. But it was great while it lasted and it created a LOT of millionaires.
This video communication technology is an example of the POWER of TIMIMG when the product released is completely a new product, that is made available to the marketplace for the first time, and made available through network marketing….
Next time I want to share another story of how you can evaluate the Power of Timing for a product when you are assessing a company.
Stay tuned for part 2 . . .
Till next time,
Charles
Co-authored with Dr Maral “YESS” Yessayan, PhD.
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