Is network marketing a good business opportunity?

Is network marketing a good business opportunity?

YOUR MONEY

With Cherryl Hanson-Simpson

Thursday, June 25, 2009

http://www.jamaicaobserver.com/magazines/Business/html/20090625T030000-0500_154160_OBS_IS_NETWORK_MARKETING_A_GOOD_BUSINESS_OPPORTUNITY_.asp

Earning additional money has become a necessity for most people in these tough financial times. Gone are the days when persons could feel comfortable with a single source of income - for some people, a nine-to-five job has almost become an endangered species.

As people look for ways to supplement or replace their salaries, one business opportunity has risen to the forefront as a viable option. Network marketing, also called multi-level marketing (MLM), is now being seriously considered by many people as a route to starting their own business.

According to Wikipedia.com, network marketing is a selling strategy that compensates promoters of direct selling companies for product sales they personally generate, and for the sales of others they introduced to the company. By using referrals and word-of-mouth promotion, independent business owners receive compensation for the volume of sales they and their down-line team can generate.

Marketing concept or money scam?
This alternative method of marketing products has been underutilised by many people due to their ignorance of how it operates. Direct selling simply allows consumers to benefit from buying or selling products straight from the manufacturers or large distributors. The money that would normally be paid to wholesalers, retail outlets and advertisers can now be passed on as commissions to the end users.

Over the years, the network marketing model has received a bad reputation due to the actions of pyramid scheme operators claiming to offer legitimate MLM opportunities. Pyramid schemes entice people to join them by offering a monetary reward for enrolling others into the programme, without any product or service being consumed.

To distinguish a viable network business opportunity from a pyramid scam, you have to ensure that the main source of the commissions is coming from the sales of the company's offerings. If the plan offers impossibly high compensation payouts that are tied to pricey entry fees from new recruits, it may be a sign that the business is likely to be a non-sustainable operation.

The reality is that the multi-level rewards concept already exists in many organisations. Sales people earn commissions on their individual efforts, while their sales managers and their bosses also earn bonuses from the combined efforts of their teams.

For people who like helping people
Network marketing operations are, however, fundamentally unlike other businesses. Regular business owners may be accustomed to competing with others to ensure that they come out on top. On the contrary, being successful in network marketing requires that you work with others in your team to help them to build their own businesses.

Robert Kiyosaki, author of Rich Dad's Business School for People Who Like Helping People, confirms that "If you are a person who truly wants to help as many people as possible achieve their financial goals and dreams, then the network marketing business is worthy of your time". Kiyosaki reveals that network marketing offers several positive values that can make it fulfilling for the right people.

Good MLM opportunities will help you to develop your sales abilities, which Kiyosaki insists is the number one skill that all business people must have. He notes that most people aren't afraid of selling, they are afraid of rejection; and points out that the leaders in the business should help to guide you in facing and overcoming your fears about being rejected.

A creditable networking business should also offer education in areas such as leadership skills, communication skills, people skills, time management, money management and investing skills, goal setting and accountability.

Is this the business for you?
When evaluating a network marketing opportunity, here are a few questions to consider:

- What is the product or service being offered? You need to decide if the company's offering is something that you will personally use and feel comfortable recommending to others.

- Who are the principals in the organisation? Investigate who is in charge and their track record of success in business, just as if you are checking out any other business option.

- Are you comfortable being trained by the person who introduced you to the opportunity? If your potential sponsor is new to the business, can you get access to others in the line of sponsorship who can guide you?

- How is the money made? Make sure you have a clear understanding of how the compensation plan is designed. Is it possible to make a living doing this business full-time, or will it only bring in part-time income?

- Are you willing to do what it takes to become successful? Many people fail at network marketing, not because the business model or product line was not viable, but because they did realise that it required education and proper work ethics to succeed.

As you look for ways to increase your income, remember that network marketing is not a get-rich-quick scheme that will effortlessly make you money overnight. However, if you're willing to be trained, and to then teach others to become successful in business, it just might be the opportunity you've been waiting for!

Cherryl is a financial consultant and money coach, and founder of Financially S.M.A.R.T. Services. Get free financial tools and more practical advice at www.financiallysmartonline.com. Email comments to advice@financiallysmartonline.com. Please add this address to your email address book in order to ensure you receive a response.

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Friday, June 19, 2009

Michigan personal income losses among highest in U.S.

Brian J. O'Connor / Detroit News Finance Editor

Another day, another batch of reports bearing bad economic news for Michigan.

Coming on the heels of Wednesday's staggering 1.2-point jump in the state unemployment rate, the Bureau of Economic Analysis announced Thursday that Michigan was among states posting the biggest first-quarter losses in the nation for personal income. Meanwhile, a Comerica Bank economic report predicted that Michigan would record a 5 percent plunge in economic activity this year, on top of the 1.5 percent drop that came in 2008.

Said University of Michigan economist David Grimes, "Michigan just is continuing to decline."

Personal income among Michiganians dropped 0.8 percent in the January through March period, compared with the last three months of 2008. Overall personal income in the United States fell 0.5 percent. Income fell by more than 1 percent in five other states, and Alaska recorded the worst drop, a 3.2 percent hit reflecting lower oil prices.

Other states seeing big drops included Idaho, Wyoming, North Dakota, Minnesota, Iowa, Missouri, Florida and Connecticut.

The difference between the other states and Michigan is that only Michigan is being hit with a double-whammy: a huge, permanent structural change to the manufacturing base of the economy, coupled with an even bigger cyclical fall in auto sales caused by the recession.

All the other states saw their personal income levels drop because of the burst bubbles of credit, housing and commodities that popped after the global economic meltdown. The plains and farming states' income drop was due to sharp declines in the prices for commodities, including oil and farm crops. In Florida and Connecticut, the bureau attributed much of the drop to finance, real estate and construction, which all took hits in the collapse of credit and real estate markets.

For those states, "There's a limit to how much more construction will go down, and oil prices already have started to come up," Grimes said. "Michigan still is suffering this permanent loss of a lot of jobs in the auto industry, and permanently lower income."

Personal income in Michigan has lagged the U.S. level for several years, and has been much more volatile because the manufacturing sector is so sensitive to changes in consumer spending.

In Comerica's "Michigan Economic Brief," the bank's chief economist predicted a 5 percent drop in the state's gross domestic product for 2009, continuing the state's trend of underperforming U.S. GDP by two points.

The key to turning the Michigan economy around is the end of the national recession, so that consumers start buying cars again, economist Dana Johnson said, but because of the downsizing of the auto industry, even that will bring only a muted improvement to the state economy.

"The car sector is such a smaller part of the state economy now that even if it bounces back, it's not going to have as much of an impact on the overall growth rate in the state that it used to have," Johnson said.

That muted rebound after an economic downturn may already have happened between the recession that ended in November 2001 and this one, noted David Lenze, an economist with the Bureau of Economic Analysis.

"Manufacturing states tend to have large amplitude throughout the business cycle," Lenze said. "Typically what happens is they have severe recessions, but also very vigorous recoveries. That may not have been the case between the last recession and this recession in Michigan."

boconnor@detnews.com (313) 222-2145

Find this article at: http://www.detnews.com/article/20090619/BIZ01/906190342/Michigan-personal-income-losses-among-highest-in-U.S.

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How to Look For "Top Online Business Opportunities"

How to Look For "Top Online Business Opportunities" By Robert Lavin http://ezinearticles.com/?How-to-Look-For-Top-Online-Business-Opportunities&id=2460050

Looking for top online business opportunities can be a demanding task. If you are seriously looking for monetary making methods through an online business opportunity, you will soon find thousands of offers promising you overnight millions. Fret not, I'm providing you a few components that will assist you in sifting through the numerous online business scams.

• Thoroughly research the company; Google the company and read the reviews on its history and how long they have been in business.

• Without the business opportunity, can the product "stand on its own", in other words is the product worthy enough to still be valuable to the consumer. A top online business opportunity must be ventured with a good "top-tier" product. You want to sell a high end product that will yield big commissions as opposed to pushing a huge volume of $30 dollar vitamins and lotions that will give you small commissions and earning a much less desirable income.

• Be cautious of advertisements that state "make quick and easy money", "start making thousands of dollars in hours" or "no investment needed"; run from these offers. Any legitimate business opportunity will require investment capital and time commitment.

What's important is that you establish your criteria that you are looking for in an online business, and then start weeding out the business offers that don't meet those criteria. If the opportunity does not fit your needs or interest, continue on your search; there are literally millions more on the internet. Here are a couple of additional components that I have used in my research.

• Do you believe in the product? If you're someone who loves lotions then look into a cosmetic based company or maybe you're a health fanatic who believes in taking vitamins then you may want to pursue a company with a reputable health product line. In other words whatever the product happens to be, you must be able to whole heartedly stand behind it.

• Does the company provide a strong training program to assist you in launching this new online business? An ongoing training package is crucial in helping you through the learning curve.

Most importantly, the business opportunity must align with your personal goals and mission in life. Remember, this is going to be an online business opportunity that you will be marketing to millions of people out there, so make sure that it provides you with the right tools in order to be successful in it.

I trust that these tips will help you in your search for the top online business opportunity in achieving your financial dreams. Feel free to visit my website to see the opportunity that I found success with.

My name is Robert Lavin and I'm a top certified online business opportunities coach. I am dedicated to mentoring and coaching people who are serious about generating a full time income from home using a top online company and a proven turn-key marketing system. To learn how you can apply to work with me, visit my website and take action in achieving financial freedom. http://www.rjlwealthbuilder.com Article Source: http://EzineArticles.com/?expert=Robert_Lavin

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Why a Bad Economy Could Be Good for You

Why a Bad Economy Could Be Good for You
Dan Miller
48Days.com

http://www.crosswalk.com/careers/11604332/

A few weekends ago, we had one of our famous Round Table events here at The Sanctuary. The registrations maxed out quickly – with the limit of 45 attendees. So, we had 45 excited Free Agent Academy (next one is June 5-6!) business owners, eager to share ideas and bursting with enthusiasm about the opportunities for 2009.

But wait, haven’t these business owners heard we are in the middle of a recession. Don’t they know that no one is buying anything but bare necessities? Are these people crazy? Shouldn’t we tell them how bad things really are -- why no one with a realistic outlook would even be thinking about starting a new business now?

Fortunately, our God-inspired human nature will not allow that to happen. Downturns and recessions always stimulate new ideas and new companies.

HP, FedEx, and Microsoft were all started in economic downturns. And I am confident that right now, in a garage somewhere in NoWhere, USA there is a young Bill Gates or Fred Smith or Thomas Edison who is tinkering with his/her plan for more great inventions and companies that we’ll see in the coming months.

Why? Perhaps some old common sayings can remind us of timeless truths.

We have heard that:

"Good is the enemy of the best." When things are okay, it’s tough to take the initiative to change. When the good has disappeared, people find their best skills and talents and start moving.“In a tornado, even a turkey can fly.” When things are easy, everyone can look like they know what they’re doing. Anyone can be a realtor, mortgage broker or home builder. When times get tough, those with true skill stand out and survive.

"Necessity is the mother of invention." When you have no good options, you can get pretty creative. When our gas supply is threatened, we see an explosion of solar and wind options for energy. When our jobs disappear, people realize “security” is a myth and many decide to start their own company.

"Waste not, want not." Companies started in the tough times tend to have fewer competitors and are forced to be more efficient in their management of resources. Don’t quit your day job without a plan. But be careful of criticizing that neighbor kid down the block who is launching the next Domino’s Pizza. Without a plan of your own, you may find him to be your next boss.

Published June 3, 2009.


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Wayne State Holding Major Event To Jump Start Entrepreneurism

Posted: Monday, 08 June 2009 5:31PM

Wayne State Holding Major Event To Jump Start Entrepreneurism

http://www.wwj.com/Wayne-State-Holding-Major-Event-To-Jump-Start-Entr/4557608

Anyone in Southeast Michigan who’s thinking about their next career move is invited to attend FastTrac to the Future: The First Day of Your Entrepreneurial Adventure, a free all-day conference that will provide a jump-start on the road to entrepreneurship.

FastTrac to the Future is Wednesday, June 24 from 7:30 a.m. to 5 p.m. in the Community Arts Auditorium, Cass at Kirby on Wayne State University campus.

The program features breakout sessions that will give guidance and free resources to people who think entrepreneurship might be right for them. This could include displaced workers, the unemployed and people looking for alternative employment options. This is not a job fair, however.

Local and national experts will discuss the challenges of starting a new business. This conference also will be highly interactive. For example, in a session called Curbside Consulting, every attendee will have the chance to pitch their idea to an expert in a relaxed, informal setting. Curbside Consulting will be available all day.

In addition, there are 11 different session topics on entrepreneurship. These include:

* Intellectual Property Do’s and Don’ts
* Organization Expo -- Providing introductions to existing entrepreneurial programs in the community, including the SBTDC, TechTown, Ann Arbor SPARK, Automation Alley and more
* What’s Your Role in a Startup?
* Pitch & Comment -- A facilitated session where people with ideas pitch to the group and get constructive feedback
* Money Tables -- Providing information on bootstrapping, raising money, and grants, plus a roundtable discussion on funding your idea
* Entrepreneurial opportunities in clean tech, logistics and medical technology

Attendees will have the opportunity to sign up that day for FastTrac, award-winning programs for entrepreneurs designed by the Kauffman Foundation. Three FastTrac programs, which will be delivered over several days or weeks, will be available locally immediately following the event:

* First Step FastTrac -- The desired outcome of this program is a written feasibility plan that helps you determine if your idea can be turned into a profitable business, and whether the life of an entrepreneur is right for you.
* FastTrac NewVenture -- Designed specifically for entrepreneurs in the early stages of business development, this program helps you uncover answers and determine which questions to ask.
* FastTrac TechVenture -- Take an analytical look at your business and discover what you need to consider in starting, operating, funding or growing a technology- or life sciences-based company.

The event is free, but registration is required. Only 500 spots are available, so early registration is strongly encouraged. Lunch will be provided.

An agenda, a complete list of breakout session topics and a link to the registration page can be found at http://events.wayne.edu/techtown/view/16818/date/57619/.

A link to the event can be found at http://techtownwsu.org/. A FastTrac to the Future Web page will be available soon on the TechTown Web site with updates on the conference, including confirmed speakers.

The community is pulling together to help refocus the talents of the unemployed and underemployed. Support for this event is provided by TechTown, Great Lakes Angels, Ann Arbor Spark, Ann Arbor Boot Camp, Cantillon, Entrepreneurial Initiative of Southeast Michigan, MIT Forum, the New Enterprise Forum, NextEnergy, Automation Alley, ConnecTech, the Small Business and Technology Development Center, SCORE, Great Lakes Entrepreneur’s Quest, Wayne State University, Biotechnology Business Consultants, Detroit Micro-Enterprise Fund, Shorebank Enterprise Detroit, the Michigan Economic Development Corporation, TiE-Detroit, Mid States Capital, Microsoft, Bizdom U and MichBio. New partners are being added every day.

The Kauffman Foundation is a key partner in FastTrac to the Future, providing resources and speakers for the event.

FastTrac to the Future is the first stage of the $9.25 million program funded by the New Economy Initiative, announced May 18. In partnership with the Kauffman Foundation, the program will assist automotive suppliers and advance entrepreneurship in Detroit.

“We are setting out to help establish 400 new companies in the next three years,” TechTown Executive Director Randal Charlton said. “That is a very ambitious goal, but if we are successful on this scale, we will have a major impact on the economy of Detroit and Southeast Michigan. This grand experiment can help lead Detroit and Michigan out of recession and provide an example to the rest of America of the way to rebuild our economy.”

TechTown is an urban community of entrepreneurs, investors, mentors and corporate partners creating an internationally influential village in Detroit. TechTown brings the resources of Wayne State University to high-technology startup companies so as to diversify and strengthen Michigan’s economy in high-growth emerging industries. For more information, visit www.techtownwsu.org

The Ewing Marion Kaffman Foundation is a private nonpartisan foundation that works to harness the power of entrepreneurship and innovation to grow economies and improve human welfare. Through its research and other initiatives, the Kauffman Foundation aims to open young people's eyes to the possibility of entrepreneurship, promote entrepreneurship education, raise awareness of entrepreneurship-friendly policies, and find alternative pathways for the commercialization of new knowledge and technologies. Founded by late entrepreneur and philanthropist Ewing Marion Kauffman, the Foundation is based in Kansas City, Mo. and has approximately $2 billion in assets.

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Entrepreneur Empowerment Workshop in Detroit Presents Business Principles and Internet Marketing

Entrepreneur Empowerment Workshop in Detroit Presents Business Principles and Internet Marketing

Reposition yourself to prosper in the new economy with classes in Business Planning and Internet Marketing

http://www.emailwire.com/release/23299-Entrepreneur-Empowerment-Workshop-in-Detroit-Presents-Business-Principles-and-Internet-Marketing-.html

(EMAILWIRE.COM, June 03, 2009 ) Detroit, MI – Are you looking for a job or in financial distress because of loss of employment? The Perfecting Church Finance Department is offering a workshop designed to help participants learn how to reposition themselves to succeed in today’s economy.

The Perfecting Church has assembled a team of business development experts to provide empowering advice to entrepreneurs and business owners of all levels. Collectively, these experts have helped thousands of entrepreneurs take their businesses to higher levels.

At this seminar, learn how to successfully market, grow and protect your business in any economic climate. This class will provide an intensive and informative day with relevant and practical steps that can be implemented for an immediate benefit.

This is not a “get-rich-quick” seminar, but rather one that will help business owners move in a positive direction, in spite of a down economy. Rather than allowing negative media to distract you from your destiny, come and learn how to be in line with the global vision to create and stimulate economic development for the purpose of advancing the Kingdom!

Topics of discussion include entrepreneurial services, internet marketing, basic business planning, business & taxes, establishing and protecting corporate credit and Kingdom principles in business. The workshop takes place at the Perfecting Church at 7616 E. Nevada St; Detroit, MI 48234. Call 313-365-3787 for more information.

Contact:

Mark Maupin
9800 Ann Arbor Rd, W
Plymouth, MI 48170
249-939-6232
Maupin.mark@gmail.com


This press release was submitted by Right Now Marketing Group, LLC

Contact Information:
Right Now Marketing Group, LLC
Mark Maupin
Tel: 248-939-6232

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Michigan workers must now build a new mind-set

May 31, 2009

Michigan workers must now build a new mind-set

BY STEPHEN HENDERSON
FREE PRESS COLUMNIST

http://www.freep.com/article/20090531/COL33/905310442/Michigan+needs+new+view

MACKINAC ISLAND -- Get a good job. Work hard. Be loyal to the company ... and you're set for life.

Of all the casualties that will be tallied Monday when General Motors files for bankruptcy, the most poignant may be the end of this pathway that has been followed by hundreds of thousands of people.

Certainly, it's the one that will hurt most here in Michigan, where a job at GM, the state's largest company and No. 4 on the Fortune 500, has been the gold standard for about five generations of blue- and white-collar workers.

Dead now is the idea of a Great Lakes birthright to a good-paying job with great benefits, a livable pension, easy credit and discount cars. Gone, officially, are the days when an advanced education or a specialized skill set were luxuries, maybe even considered frivolities, in an economy that churned on muscle, manufacturing and union-won guarantees of income, health care and security.

This isn't just the failure of yet another American automobile company. It's the death blow for a way of life, a culture that defined this state for much of the last century and kept it among the most prosperous places in the world.

GM, more than any other company or institution, created the contours of that prosperity and culture, its name synonymous with good fortune and security.

On paper, this bankruptcy is about creating a new GM that is more competitive and sustainable in a global economy that has passed by the old GM. But it's more -- the brightest marker yet that so many of our assumptions in this state, the foundations we've come to count on, are going away.

That cultural shift was a running theme last week at the Detroit Regional Chamber's annual policy conference on Mackinac Island.

Panels were organized around the nuts and bolts of the new world we face -- green technology, growth and innovation, entrepreneurial diversification. But the undercurrent all week was the accompanying need to say good-bye to the world we've known.

John Rakolta, chairman and CEO of Detroit's Walbridge Aldinger construction company, flatly called it a culture of entitlement -- a judgment we've all heard before. But that may be too harsh and too broad an appraisal right now.

It's hard to say that the folks hurt most by GM's decline -- the thousands who have lost their jobs and the thousands more who will -- did anything wrong. They bought into a system that rewarded work with "golden handcuffs."

And let's be frank, their work and pay also built a lot of what has sustained Michigan -- and so many other places across the country -- for a long time.

It's not their fault that the very same system squashed much of the individual drive for innovation and entrepreneurship. It killed the incentive to want a "better" life for the next generation. Who needed better when the status quo was so good and easy to get?

It's not their fault that their individual efforts weren't matched with leadership that understood the need to invest in something different -- education, technology, innovation -- for the future.

But they'll pay dearly now. They'll lose their jobs and benefits as thousands more people lose the opportunities their parents or grandparents had to live a comfortable middle-class life.

Maybe it won't be you, but surely we all have friends, neighbors or family who will be affected.

Attorney General Mike Cox told me this week that while his own family is stocked with Ford employees, safe for now because of that company's more favorable financials, he has three friends who recently have lost work. No one will be untouched.

If there's any solace, it may be found in another aspect of the Michigan culture: toughness.

We're a hardy lot. We'll struggle and survive and find our way to a better future.

And we will be better off for having done so. For as great as the "caretaker culture" has been, it pales in comparison to the opportunities to be found in self-reliance, innovation and enterprise.

The way of life for the "next Michigan"? Get a good education. Work hard. Never stop learning. Set yourself up for life.

It's going to be different. It can be better. And it starts for Michigan on Monday morning.

STEPHEN HENDERSON is editorial page editor of the Free Press. Contact him at shenderson600@freepress.com, or at 313-222-6659.

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