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Master Key Experience – Too much for me!

 

Master key experience – out

 

Master Key Experience

 

I attended week 4 of the MKE. The webinar was a little less than 2 hours long. Which is an improvement over the first 3 weeks. Each of the first 3 weeks went for 2 hours and maybe a bit more.

 

Let me start off by saying that I really believe that this stuff can and will work for whoever is willing to put in the work. Of course, to be able to do the work, you have to have some idea of what’s going on in the webinar. I’ve given it a decent shot. Unfortunately, I feel hopelessly lost and I think that I’ve fallen so far behind that I’m not sure that I could catch up.

 

I would recommend that everyone who comes across the course should give it a try. Just know that there will be so much new knowledge, coming at you, that it will be tough to keep up. I would suggest that one should be ready to take notes. They give you a workbook for you to study and prepare for the class. Well, I would say that it’s more like notes of what’s going to be covered. For me, reading someone else’s notes from a lecture that you haven’t heard yet isn’t much help.

 

I would say that you should have those notes in front of you, but add to them. Whatever you think is important should be added.

 

Okay, I admit it, it’s been a long time since I’ve sat in a classroom. However, I was a really good student. I won’t bore you with the particulars. Maybe someone younger than me would have an easier time. I will say that whether you’re 23 or 63, you’re going to have to take that drink off of the fire hose!

 

Today was the day that they really started to talk about how much all of this will cost. It reminded me of being in church. When the church wants money they talk all about Paul and how he didn’t have a job, except to spread the Gospel an how he relied on the donations of others to feed himself. Then they pass the plate. It was kind of like that in the beginning of the webinar.

 

They talked about being a good giver and a good receiver. I don’t think that they were talking about money or at least not exclusively. I don’t think that it was a coincidence. This is the first week to make a payment. It was my understanding that the participants would decide how much to pay for the course, per month.

 

I got this week’s survey and at the bottom was all the information about paying for the course. It sure looked like they decided how much we should pay for the course. They started out by saying that we could choose whether to continue the “pay it forward” aspect of this or they would be selling it for either $1,499.00, $1,999.00 or $2,999.00. Below that was what we would be paying. Yes, we got to decide how much to pay. We got to pick from their 4 suggested rates. They debated themselves about how much a latte costs and then clarified what they meant was that it was 4 lattes per week and not the 2 lattes that had been talked about originally.

 

My suggestion to Mark J is to just to say that it costs whatever it is that he wants to get paid for running the class and let it go at that. This whole pay it forward scholarship is crap. Saying that the participants decide how much to pay is crap, too.

 

If I remember correctly, the 4 choices were for what to pay was somewhere between $80.00 and $95.00. Even at the top amount, it would be less than $25.00 per week. That should be affordable for most people. I’m sure that there will be those who might find it difficult to come up with an extra $100.00 per month for a self-discovery class.

 

When I look back at the “selling it” prices of $1,500.00 to $3,000.00 I have to laugh. Is that anything other than manipulation? Paying $80.00 per month is a steal compared to buying it for $3,000.00, right?

 

Like I said in the beginning of the article, I believe that this is a course that is well worth the money. I think that it will work for anyone who will do the work.

 

I also think that anyone who takes this course needs to be very much prepared for a ton of information coming a mile a minute! The worst part of it is that they won’t tell you everything that’s going on in the course. They say that they’ll “tie it all together” in the near future.

 

For me, I don’t think this isn’t the right time in my life for this kind of commitment. I have way too much going on to try to find 10 hours or more per week for this. Like I said, I believe in this and would like to do it, but I have 2 newborn grandchildren that we’re having to help take care of and 1 grandchild on the way in 9 weeks. I’d like to take this course when my life settles down a bit.

 

I’d like to thank Mark J, The Fabulous Davene and my guide for the opportunity!

 

If you’re prepared for it, I think that this course could be life altering!

 

 

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When your prospect said, “I don’t have money,” how did you reply?

Objections to network marketing

 

I don't have the money

 

I’m part of a network marketing discussion group on Facebook and they began to discuss ways to overcome the objection of, “I don’t have the money.”

 

To me, I think that there are going to be some people out there who truly don’t have the money that’s required to join and run a business. Then there will be people out there that really believe that they don’t have the money. They may be able to raise the money or find the money if they really wanted to join your business. Then there will be the people who have the money and they know they have the money they just don’t want to spend the money to join your business. For them, it’s not an objection, it’s an excuse to not join. They just want you to go away and leave them alone.

 

Here are some of the suggestions that the group came up with to answer the lack of money objection.

 

One person’s company had several different options to join the company. There is an inexpensive option and mid-priced option and a less expensive option. Usually, this happens when the company puts more or less of their products in the kits. This person starts off by telling the prospects that there is a way to join at the expensive level. If they get the lack of money objection, they ask how close they are to the price of the expensive kit. Say the expensive kit is $500, but the prospect only has $250.00. The recruiter says, “Well, we do have a mid-level kit that is only $250.00, let’s get you started.”

 

Now the recruiter knows that they have enough money to join their business. They’ve taken away that objection. There may be other objections, but their prospect might sign up.

 

Then there were several people who suggested using this technique:

 

“If money wasn’t an issue, would you sign up with my business?” This is used to get a commitment to join the business. They figure that they can help the prospect to find the money later.

 

One of the suggestions was to tell the prospect that they will always have a lack of money until they do something to correct the problem. It’s the old, “Do you want to do something about your lack of money?” ploy. I don’t like that suggestion because there are people who really don’t have to money available to join and this kind of strategy is more likely to make them feel even worse than they already do now. The bottom line is that I think this strategy is just rude and belittling.

 

be careful what you say to your prospects

 

Someone suggested that they would follow up with the person when the company is offering a discount on the new distributor kits. I’d say be careful saying that to anyone. It could be seen as an insult.

 

One of the best suggestions is this: I would look confused and ask “You don’t have the money, or you just don’t see the value of this business?” That kind of cuts to the chase. There is an old example that network marketers love to use and it goes like this: If your prospect was offered a brand new BMW and the price was $300.00 would they have the money for that? Even someone who is dead broke can find a way to come up with the $300.00 to buy that brand new car. They see the value in that BMW. Obviously, they don’t see the same value in your business opportunity or else they would find the money somewhere.

 

This next one is one of the best suggestions. It’s one that I’ve used and really like. You can say, “You don’t need any money to test drive our system. Does free work for you?”

 

I let people do all of the work as though they have signed up. I get them to make a list, launch their business and start to talk to people. I help them just as though they are a “real” distributor. When they get to the part that they are about to recruit someone or sell a product, I let them know that they have a decision to make. Do they want to sign up, for real and get the sign-up or the commission or would they prefer that I get it?

 

Most people will see that they can make the business work for them and they sign up. The worst thing that can happen is that you get the sale or sign up.

 

Those are most of the suggestions from the discussion group. I hope that you found on that you like and can use in your own business!

 

 

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Is network marketing a Ponzi scheme?

 

Most network marketing companies aren’t illegal pyramidsis network marketing a ponzi scheme

The network marketing industry gets kicked around a fair amount. A lot of it is with good reason! One of the most often sited problems with network marketing is that it’s a scam, a fraud, a pyramid or a Ponzi scheme.

 

It sure seems like the SEC and the FTC keep a very watchful eye on the network marketing industry. If anyone gets out of line they’re right there to take them down or at least make an example out of them. Most of the governmental actions stem from where does the money come from for the payouts to the distributors.

 

A pyramid scheme and a Ponzi scheme are similar in structure and operate in a similar fashion. I’m going to go about this discussion by focusing on the Ponzi scheme.

 

The Ponzi scheme is named after one of the first and certainly the most infamous of fraudsters. Charles Ponzi started his investment firm and promised large returns on people’s investments. He also told them that there was very little risk involved in his investment strategy. Those two promises are enough to get almost any investor to drool.

 

Ponzi was able to get several people to invest with his firm and he started to issue statements showing how much money his investors were making. There may have been money being made, in the beginning, or maybe there were never any profits made. It didn’t matter to Ponzi. The investors would be so impressed with the rate of return on their fake statements that they would refer their friends and colleagues. If someone wanted to withdraw money from their account, Ponzi would take the new investor’s money and pay the person withdrawing money. The investment was proven to be good and solvent and this increased the believe-ability in his strategy and his firm. This brought, even more, investors into his firm.

 

He was able to use the money from new investors to pay the older investors and keep the business going. All the while he was paying himself some of the money that was coming in. It’s a great scam right up until you can’t bring in enough new investors to pay out to the older investors who want to withdraw some or all of their money.

 

As soon as enough older investors want their money and there isn’t enough new money to pay them, the scheme collapses. Ponzi was able to operate for a year before his scheme collapsed. He wrecked people, financially, to the tune of $20,000,000. That doesn’t sound like that much money, but that’s over $200,000,000 in today’s dollars.

 

For his crimes, he spent a mere 3 ½ years in prison. He died, broke, at age 66.

 

charles ponzi

 

The hallmark of a Ponzi scheme and a pyramid is that the money being paid out comes from the investments of new people.

 

Does this mean the network marketing is a Ponzi scheme or a pyramid?

 

On the surface, it might seem like the money to pay the distributors is coming from the new people who are joining the business. If that were true, then it would be a pyramid or Ponzi scheme.

 

To eliminate the appearance that this was true, the government implemented new rules.

 

The FTC came up with rules that govern the industry. If the money being paid out comes from the actual recruiting of new distributors or from the amount of products that the distributors buy, then it can be considered a Ponzi scheme or a pyramid.

 

If the majority of the money comes from the sale of the company’s products to people who aren’t distributors then it is not a Ponzi scheme or a pyramid.

 

If you have any concerns as to whether or not your network marketing company is a pyramid or Ponzi scheme, ask them to provide you proof of what percentage of products are being sold to non-distributors.

 

The “Amway Safeguards” were put into place in the late 1970s. They said that 70% of all products that a distributor buys have to be sold to people who aren’t distributors. If a company can prove that 70% of their products are sold to non-distributors, then they are legal and not a Ponzi scheme or a pyramid.

 

 

I hope you found this article valuable!

 

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