Calling all Baby Boomers. This is your wake-up call. If you have been coasting along living fast, you’ve probably noticed that time is flying by. And if you are like most baby boomers, you’re probably noticing that your nest egg, if you have one, either hasn’t grown much or has actually gotten smaller.
An Alternative to Retirement
A huge percentage of boomers have traded their time for money working at a J.O.B. (Just over broke) and have no idea how they will retire and whether or not they will be able to afford those golden years. There are, however, a growing number of boomers deciding to start a business. And while they are in their fifties no less. Some may have had to do so of necessity. That old idea of keeping the same job for 40 years is long gone. You just may have been downsized. These boomers are serious in their pursuit of creating something lasting. I’m talking about passive residual income. That’s right. Something you do once and get paid over and over again for it. These boomers are serious about. Very gung ho.
What Are Your Options
So, you’re in your fifties, not a lot of savings and maybe you were just downsized. So what do you do. You don’t have a million dollars to buy a major franchise like McDonald’s. And if you did, why on Earth would you? There are many options available. The Network Marketing industry is an alternative that many people are looking at and jumping into full force. There are many companies and a lot of research to do.
Longevity or Ground Floor
My personal preference is to be with a company that has longevity, a proven track record. However, depending upon the level of risk you are willing to take, you may want to get into a new company and get in on the ground floor. One thing you should know is, like any other business is that 90% of all Network Marketing companies fail within their first year. I prefer a company that has been around long enough to provide stability, yet not so far along that everybody has heard of it. You don’t want to join a company at the peak of their growth.
Great Products at Competitive Prices
You want to choose a company whose products you can believe in and not priced out of the market. If you have to pay more for the same product through your chosen company than you would at retail, it is not a good deal. Your customers will not want to pay more for a product or service and neither should you. There are a lot of nutritional products out there and I know some people that have cases of some special juice stocked up just so they can keep their commissions up. Don’t fall into that trap. I’ve chosen a company that has an umbrella of products and services. So, I don’t have to worry about when products might go obsolete. This company just keeps adding new products and services.
Fair and Easy to Understand Compensation Plan
There are many different models out there. The basic models are Binaries, Matrix, Unilevel and Stairstep-Breakaways. Describing these different models will take up a lot of space right here and I will leave that for another post. The company I chose is a modified Stairstep-Breakaway plan.
The founder of the company I chose was a top money earner for another company in the nineties. In that company it took him three years before he started to see a residual income that he could support his family on. He realized when he created his own Network Marketing company that most people give up when they do not see an immediate return and don’t have the stamina, so they drop out. Well the compensation plan he designed builds the residual income and also provides Customer Acquisition Bonuses (CAB) that reward you while you are building your own downline. Many of the products in this company are from major companies that pay big bonuses when a new customer signs up for a product and service. This allows these bonuses to be substantial. So this modified Stairstep-Breakway plan is just amazing.
Great Training, Great Teamwork
This is usually the top issue people should be looking at. I left it until last because it is the most important. Most people looking at a Network Marketing opportunity want to know one thing. “Can I Do This”? This is not really a sales business. It is a training and teaching business. This is why teachers do well in this and people with good communication skills. Your team should work with you. Most people don’t normally do this, but, it is a good idea if you can, pick your upline. Who do you see that could be a powerful teacher, a mentor. Someone that can help guide you in the process of learning and becoming a mentor yourself.
You want someone that can teach you a system. Yes a system. Successful businesses have systemized the processes to run their business. A system is necessary, because in this business you want to duplicate yourself. And how else to do that, but to provide a system that is duplicatable. If you can follow a well-defined set of easy steps you can repeat the process. You can teach others and leverage your MLM Business.
This is Your Wake-up Call
So wake up baby boomers and start building your future. It may take you a few short years to build it up to where you want it, but the rewards will be worth the effort. I hope that I have left you with a few things to think about if you are new to Network Marketing or even if you are an MLM veteran.
Other information can be found at Success in 10 Steps or Renegade University.
