Selling Prepaid Legal is paying off

[Vince G, CSN MFT]

I've actually done much better than I thought with Prepaid Legal  and advancing to Manager Rank.  Haven't spent as much time as I should and I could do better but its legit in my opinion.  Just have to follow up with people after you give them some information.  Services work very well.  Only problem I had was with the direct deposit since my business checking is under Caliber Fitness Solutions but other than that, its pretty good side money.  Its still not as much as my nutritional shop but every penny helps.....

[Princess L]

I've heard the attrition rate is extremely low.

[Vince G, CSN MFT]

I've heard the attrition rate is extremely low.

To date I haven't had any chargebacks but I expect some in the near future however generally the main cause of that is when someone lies about the service to make a sale.  Also, a lot of people spend all their time trying to recruit associates and end up at the bottom of the heap.  I focus more on membership sales which is where the money is and do less recruiting.  Because I was able to sell a number of memberships, I advanced very quickly to the Manager Level which allows me to  obtain a much higher commission and commands more prestige in recruiting associates .  I also took the business certification course to sell business memberships which gives me an additional edge over others who can only sell the family memberships.  They take longer to explain and you have to learn to analyze businesses based on needs but the commission rates are much higher and the retention rate is very strong. 


I'm about to complete my first year in the business and I'm very pleased with the results.  I haven't put much time into it as I should have but I've made a good profit off of it with very little overhead

[Migs]

what is this?

[Vince G, CSN MFT]

what is this?

www.melvingoodrum.com

[24KT]

I've heard the attrition rate is extremely low.

I've heard quite the opposite, that the attrition rate is extremely high.

[Princess L]

I've heard quite the opposite, that the attrition rate is extremely high.

I've only heard Clark Howard speak about it.  Nothing negative per se, but he says you gotta be able to sell snow to Eskimos and the client turnover is extremely high.  Legit business tho.

[24KT]

I've only heard Clark Howard speak about it.  Nothing negative per se, but he says you gotta be able to sell snow to Eskimos and the client turnover is extremely high.  Legit business tho.

oh I never said it wasn't legit, however it has a tendency to attract very selfish & scummy people with a dog eat dog attitude imo.

One of the major criteria to consider when joining a network mrktg company, in addition to the company's foundations, the timing of the venture, and their product, ...is their compensation plan. The compensation plan is extremely important, ...not only because this is the mechanism by which you're paid, ...but because it drives the behaviour in the field. And if it is a comp plan whereby you pick up bonuses which your downline does not qualify for, over time, you have a situation where the people above you, DO NOT want you to progress, because your progression lowers their pay checks.

ie: If I was at a 25% commission level, and you were at a 15% commission level,
...would I want you to get to the 25% level like me? Of course not, ...cause I'd lose that additional 10%.

But by the time you've figured that out, you may have already brought in 4 people. You end up dropping out, ...and those 4 people all move up to my 1st level instead of my 2nd level where they were before, and the cycle starts all over again. You end up with an organization where you are a mile wide across, but only an inch deep. There is no depth, and it is the depth of an organization that provides the stability. Their's is not a comp plan whereby the success & productivity of the new people you bring in contributes to the success and prosperity of the entire team. Everyone you sponsor, you place on your front line to compete with everyone else in your organization. ...in order for you to get paid on the productivity of your organization. It's a little back asswards imo.

Or worse, someone brings in a superstar on a level just outside of your payline. What's the natural tendency there, ...to do what's necessary to get rid of a few people in between so the geneology is compressed enough to reach payouts on that level. You might have a hundred people horizontally across your frontline, but if none of those 100 have any business or volume below them, they aren't likely to stick around, ...much less do anything. If you had 100 people below you vertically however, you have 99 of those people with at least some volume that can excite them to take further action that benefits the whole team including that 100th person with nothing under them as yet.

A thorough understanding of the comp plan and the inevitable behaviour is drives in the field is essential to save oneself from costly mistakes down the road. What would you rather invest your blood sweat & tears in... something that requires you to have 12 - 20 front line leaders in bonus to earn a commission check, ...putting you and everyone of your people in competition with each other, ...or something where people can actually work together for the mutual success of everyone involved?

In an 6 level unilevel breakaway comp plan, if a superstar comes in 100 levels below you, they are at best 94 levels OUTSIDE of your payline. You would have to be at the top of the pay plan and have the 94 people in between do absolutely nothing in order to be paid on it. In a 2 legged plan, it doesn't matter that the person is on your 100th level, ...his productivity benefits you and the other 99 people in between, as if s/he was frontline to each one of you.

[Vince G, CSN MFT]

Well, I'm about to complete my first year in about 4 months.  My persistancy rate is problably going to end up with 80% of my memberships I've sold still on the books.  I have a number of associates but only 4 are active in regards to regularly selling memberships and recruiting associates. 



I've mainly depended on brochures, and corporate approved flyers to sell memberships and simply did three way calls and invitations to business briefing for recruiting.  My overall expenses per month for brochures and supplies are under $10.00, I use my Caliber Fitness phone line for contact, and the website is 19.99 a month.  I will add an outside prospect site just like Jaguar's on Friday but that will only be 80.00 a year to maintain.



I was actually in the Company Magazine in Febuary but only for recognition for the Manager rank along with a hundred other names but that's better than nothing at all. 


I think the key is to undersell and overdeliver.  Now, I cannot predict the future but even if all my memberships cancel today, I would not have lost any money.  I've made back my 89.95 exponently and have no complaints. 

Right now its 49.00 just to get in and even I'll admit that everyone won't have the same success I've had.  But if it doesn't, then you're not really losing much money.....



You be the judge.....www.melvingood rum.com

[Vince G, CSN MFT]

oh I never said it wasn't legit, however it has a tendency to attract very selfish & scummy people with a dog eat dog attitude imo.

One of the major criteria to consider when joining a network mrktg company, in addition to the company's foundations, the timing of the venture, and their product, ...is their compensation plan. The compensation plan is extremely important, ...not only because this is the mechanism by which you're paid, ...but because it drives the behaviour in the field. And if it is a comp plan whereby you pick up bonuses which your downline does not qualify for, over time, you have a situation where the people above you, DO NOT want you to progress, because your progression lowers their pay checks.

ie: If I was at a 25% commission level, and you were at a 15% commission level,
...would I want you to get to the 25% level like me? Of course not, ...cause I'd lose that additional 10%.

But by the time you've figured that out, you may have already brought in 4 people. You end up dropping out, ...and those 4 people all move up to my 1st level instead of my 2nd level where they were before, and the cycle starts all over again. You end up with an organization where you are a mile wide across, but only an inch deep. There is no depth, and it is the depth of an organization that provides the stability. Their's is not a comp plan whereby the success & productivity of the new people you bring in contributes to the success and prosperity of the entire team. Everyone you sponsor, you place on your front line to compete with everyone else in your organization. ...in order for you to get paid on the productivity of your organization. It's a little back asswards imo.

Or worse, someone brings in a superstar on a level just outside of your payline. What's the natural tendency there, ...to do what's necessary to get rid of a few people in between so the geneology is compressed enough to reach payouts on that level. You might have a hundred people horizontally across your frontline, but if none of those 100 have any business or volume below them, they aren't likely to stick around, ...much less do anything. If you had 100 people below you vertically however, you have 99 of those people with at least some volume that can excite them to take further action that benefits the whole team including that 100th person with nothing under them as yet.

A thorough understanding of the comp plan and the inevitable behaviour is drives in the field is essential to save oneself from costly mistakes down the road. What would you rather invest your blood sweat & tears in... something that requires you to have 12 - 20 front line leaders in bonus to earn a commission check, ...putting you and everyone of your people in competition with each other, ...or something where people can actually work together for the mutual success of everyone involved?

In an 6 level unilevel breakaway comp plan, if a superstar comes in 100 levels below you, they are at best 94 levels OUTSIDE of your payline. You would have to be at the top of the pay plan and have the 94 people in between do absolutely nothing in order to be paid on it. In a 2 legged plan, it doesn't matter that the person is on your 100th level, ...his productivity benefits you and the other 99 people in between, as if s/he was frontline to each one of you.

That is true in most network marketing companies however more people are incline to sell the memberships because it pays much more than recruiting someone and its a lot easier as well.  In addition, the plans are actually a viable product that people actually need.  Everyone has had a dispute with a company returning a product, everyone has had a parking ticket or speeding ticket, everyone has bought a car or home, everyone has paid taxes, everyone worries about identity theft,  and very few people have had their wills prepared. 

You don't have to have any sales ability but you do need to learn about the product from top to bottom to answer any questions a client may have.  Simply hand them a brochure and that takes care of 90% of the job.  Recruiting only involves letting them view a DVD or inviting them to a live briefing.   

  If I sell a Family explained Plan, I would get 172 bucks whereas anyone I recruited that sold the same thing, I would only get 34 bucks.  Now don't get me wrong, you still want to recruit heavy because it allows me to duplicate myself once I train them and show them how I do the business.

Considering the time I've spent being out of network marketing, I'm just very happy that I still have what it takes

[24KT]

That is true in most network marketing companies however more people are incline to sell the memberships because it pays much more than recruiting someone and its a lot easier as well.  In addition, the plans are actually a viable product that people actually need.  Everyone has had a dispute with a company returning a product, everyone has had a parking ticket or speeding ticket, everyone has bought a car or home, everyone has paid taxes, everyone worries about identity theft,  and very few people have had their wills prepared. 

You don't have to have any sales ability but you do need to learn about the product from top to bottom to answer any questions a client may have.  Simply hand them a brochure and that takes care of 90% of the job.  Recruiting only involves letting them view a DVD or inviting them to a live briefing.   

  If I sell a Family explained Plan, I would get 172 bucks whereas anyone I recruited that sold the same thing, I would only get 34 bucks.  Now don't get me wrong, you still want to recruit heavy because it allows me to duplicate myself once I train them and show them how I do the business.

That's my point Vince, you're more concerned about $172 bucks rather than the $34. What's wrong with $34?
...especially if it comes from a sale you didn't even make? You should see it as a nice bonus. You should be happy to have 100 of your sponsored reps earn the $138 sale daily, while you only earned the $34 on each. A hundred of those types of sales per day, ...that's true leverage.
 
Vince, to be really successful, you need to focus on helping others to get what they want.
If you have enough people in your group getting what they want, ...you will be more than well taken care of.

Focus on what the consumer needs, wants, and will get, not what YOU will get.

Additionally, ideally, you should want to turn those memberships sold into new PPL distributors. Who better than a satisfied customer to be your BEST salesperson. This is someone who not only uses the product, but will actively promote it to others as well. Without that, you're on an endless sales treadmill. Sooner or later you will run out of time and/or talent. Unfortunately, you've entered a business that requires people to be licensed in order to sell the product, which means, YOU have to do all the selling yourself. ...and sooner or later you will run out of time and/or talent. Additionally, sales skills are NOT duplicatable. If you had a satisfied customer who could also share the service with others, your business would really take off, and the retention rate would be much higher. Satisfied customers who are also distributors are not going to drop out if they haven't made a sale. Any sales they do make will be seen as a bonus on top of the great product they have.

I've got to hand it to you though, ...you've got guts. I know I'd never want to be marketing a non-exclusive product readily available elsewhere, and having to wait a year and a half to discover if there will be any renewals or residuals coming.     Especially when you're restricted to a particular market. With the stroke of a pen, Congress is only one law away from making your product or service irrelevant, non viable, or worse. You can expand into Canada, where your product or service would be immune from the whims of Congress, but that's about it. I would need to be able to build all over the world, and see satisfied users who are actually able to put the product or service to the test immediately within the 1^st month, and start seeing renewals, repeat business, and residual income starting in the 2^nd month. That's a foundation laid in strength where you're building your business upon satisfied repeat user after satisfied repeat user. Without an actual tangible product that people could touch, see, taste, feel, etc., ...I would absolutely poop myself having to wait a year and a half to see if there were even going to be any renewals. To me, that's like building a house of cards. If a few load bearing beams were to disintegrate, but only a yr & a half AFTER you've already moved in, the whole thing comes toppling down around you. 
You're more courageous than me, ...cause I sure as heck wouldn't do it. Good Luck with it.

[Mr. Cortisol]

vince and jaguar talking about sound business ethics is like watch two handicapped people have sex.

[24KT]

No offense vince... but Eewwwwwwww! Cortisol, you just created the most disgusting visual.

I would have much rather preferred you say it's like watching 2 blind people drive! 

[Vince G, CSN MFT]

That's my point Vince, you're more concerned about $172 bucks rather than the $34. What's wrong with $34?
...especially if it comes from a sale you didn't even make? You should see it as a nice bonus. You should be happy to have 100 of your sponsored reps earn the $138 sale daily, while you only earned the $34 on each. A hundred of those types of sales per day, ...that's true leverage.
 
Vince, to be really successful, you need to focus on helping others to get what they want.
If you have enough people in your group getting what they want, ...you will be more than well taken care of.

Focus on what the consumer needs, wants, and will get, not what YOU will get.

Additionally, ideally, you should want to turn those memberships sold into new PPL distributors. Who better than a satisfied customer to be your BEST salesperson. This is someone who not only uses the product, but will actively promote it to others as well. Without that, you're on an endless sales treadmill. Sooner or later you will run out of time and/or talent. Unfortunately, you've entered a business that requires people to be licensed in order to sell the product, which means, YOU have to do all the selling yourself. ...and sooner or later you will run out of time and/or talent. Additionally, sales skills are NOT duplicatable. If you had a satisfied customer who could also share the service with others, your business would really take off, and the retention rate would be much higher. Satisfied customers who are also distributors are not going to drop out if they haven't made a sale. Any sales they do make will be seen as a bonus on top of the great product they have.

I've got to hand it to you though, ...you've got guts. I know I'd never want to be marketing a non-exclusive product readily available elsewhere, and having to wait a year and a half to discover if there will be any renewals or residuals coming.     Especially when you're restricted to a particular market. With the stroke of a pen, Congress is only one law away from making your product or service irrelevant, non viable, or worse. You can expand into Canada, where your product or service would be immune from the whims of Congress, but that's about it. I would need to be able to build all over the world, and see satisfied users who are actually able to put the product or service to the test immediately within the 1^st month, and start seeing renewals, repeat business, and residual income starting in the 2^nd month. That's a foundation laid in strength where you're building your business upon satisfied repeat user after satisfied repeat user. Without an actual tangible product that people could touch, see, taste, feel, etc., ...I would absolutely poop myself having to wait a year and a half to see if there were even going to be any renewals. To me, that's like building a house of cards. If a few load bearing beams were to disintegrate, but only a yr & a half AFTER you've already moved in, the whole thing comes toppling down around you. 
You're more courageous than me, ...cause I sure as heck wouldn't do it. Good Luck with it.

Congress is also one pen stroke away from wiping out the nutritional industry as well.  It would be unlikely however as they would face tons of lawsuits from the provider firms.  The organization is a lot more powerful than I expected.  When I was at the convention, there were two governors and a number of politicians roaming around the area.  Again if it happenned, then I would not lose a dime as I'm deep in the black as far as business is concerned. 


And I understand the concept of network marketing and I recruit as much as as I sell memberships.  Its good to receive a check for work I never did.




Most importantly, if all happens to fall the next day then I'd simply move to another network marketing company now that I know I can still do it.  Didn't think I still had it but I proved myself wrong.  I may even switch my nutritional site over to a network marketed company and no longer have to worry about stocking inventory as I can use the same systems to track that as well.

 My communications job is being laid off but I've already secured more than enough income coming in to where I can now work from home but I still want to go further.  Its going to be very interesting in August when that happens