Let's get this straight right from the outset, this is not a guide to a phony get-rich-quick scheme. No, this is something much better than that. If you are interested in starting your own business from home, wherever home may be in the world, then you could not choose a more lucrative sector than the lottery business.
Did you know that the word "lottery" is the 8th most-searched-for term on Google? That alone should tell you the enormous scope of this market.
In the UK the average weekly household spend on the National Lottery is ?5.37. The business outlined in this article is to sell entries in the National Lottery to people who are playing already. How wonderful is that? You're not trying to sell them a new product they've never heard of, you're not even trying to sell them a new brand of a familiar product. No, you are simply offering people a new and improved way of buying the very same product on which they already spend ?5.37 per week.
But you will only be charging them ?5! So by buying from you they will not only save ?0.37 but will also boost their winning odds by 702%. Does this sound like the kind of product you would feel happy about selling? Then let me tell you more.
The Virtual World Direct e-Lottery from Syndicateworld has been established since 2002 and is a member of the Lotteries Council. Checking on google won't uncover any skeletons in the closet, its business practices are clean as a whistle - another important consideration for anyone thinking of becoming an affiliate. Mud sticks and you don't want it sticking to you by assocation, so it's always important to check out a company before committing yourself to represent it with your good name.
The e-Lottery is a syndicate for the UK Lottery with players paying ?5 per week for 44 entries each in both the Wednesday and Saturday draws, i.e. 88 entries in total. The key selling feature of the syndicate is the huge boost in winning odds compared to spending ?5 as a solo player and ?5 as a syndicate player. Despite having to share winnings with other syndicate members, it is statistically proven that players win substantially more with the syndicate than they could ever possibly hope to win alone.
With no hidden costs and no deductions from winnings, the product certainly stacks up, making your job in selling it so much easier.
To become an affiliate costs just ?4.99 per annum and for this you receive a start-up kit of promotional tips and tools and your own website address - you don't even have the usual hosting fees associated with having your own domain. So for just ?4.99 you can begin recruiting your new players and earning commission. To become an affiliate you must also play the game yourself, costing ?5 per week but this is fair enough as why sell a product if you don't believe in it yourself?!! You earn 20% commission on each player you recruit, i.e. ?1 per week per player, meaning that once you recruit 5 players you have earned your own ticket stake and are playing for free.
The beauty of the commission system is that once recruited, you continue to earn your 20% commission on your players for as long as they stay in the game, week in, week out, for infinity. And better yet, if your players then go on to recruit their own players, you also earn 5% commission from them, too. And if the players' players go on to recruit their own players, you earn 5% commission once again. This continues down a dizzying 7 levels, very much like a family tree with you at the head. Of course it never works out like this in practice but in theory, if you recruit 5 players and they go on to recruit 5 players each and those 5 do the same and so on down the line, you would end up with a millionaire annual income! From just 5 players! Needless to say, no business ever grows at such neat and tidy rates as that, but it gives you an idea of the potential.
Many affiliates looking to expand their fledgling business find that the best way is to approach their family, friends and colleagues. Normally this can be an embarrassing business if you're selling something you're not sure they want or need - but by only asking those people who you know play anyway, no such problems exist with this business.
For some people that is as far as they want to go as an affiliate and are quite happy to play the lottery for free once they've attracted their 5 new players and take no further action. This is fine and there is no pressure brought to bear. This is another important factor in the e-Lottery in that you can do as much or as little as you like - the only targets you have to meet are those you set yourself. There's always help and support there if you want it, but no boss breathing down your neck!
If you fancy expanding further than just your immediate circle, there are lots of ways you can do this. You can obtain flyers, website banners, business cards and posters, plus lots more promotional tools, including e-mails and mailshots, all customised for you, to help you build your business. Apart from the US, where players are not permitted by law to take part in foreign lotteries, you can recruit your players from anywhere in the world, creating for yourself a truly global business.
So the possibilities as an affiliate for the e-Lottery with Syndicateworld are endless - the only one setting the boundaries is you!
A Global Business Simulation
Many businesspeople dream of reaching the global marketplace because of the potential to provide increased profitability through reaching a large number of customers. There are many issues one needs to consider before becoming a global entity because the business environment differs vastly from country to country. If one does manage to get passed the trade barriers such as the tariffs and the quotas that are set up by the respective governments to protect their domestic industries, one still has to deal with the customers themselves before the products will be bought. In line with this, here are some of the most important factors one needs to consider in order to have a global reach for one's business. If you do not consider these things you may run into trouble that will prevent you from being successful.
The Laws – Countries have different laws that govern business practices so, what may be considered legal to one country may not necessarily mean that this same practice is legal in another. It is therefore important for one to consult with local lawyers and accountants regarding the laws in their particular country. These professionals can help you make sound business decisions.
The Culture – Every country has its own deep-rooted culture that makes it unique from other countries. One needs to know the local culture even before one can promote one's product effectively in the business environment.
The Promotion – Aside from the fact that one needs to be sensitive to the taste and preference of the local markets and be careful on the promotion that one does as not to offend the potential clients, one also needs to be flexible to follow government regulations. For example, there are countries that do not put a limit on the amount of money that can be won by a local resident when a particular company holds a contest. However, in other counties the amount of earning can be restricted so one needs to know about these rules and requirements even before one starts with the promotional strategies.
The Locality – One should note that there are countries that have different government rules according to region. One needs to be cautious in making different promotions and activities in different regions in a new territory because a practice that may be permitted in one area doesn't necessarily mean that it will be acceptable in another area even though it is in the same country.
The Budget – Penetrating another country may cost more than one is expecting because of the different legalities one has to deal with. At the start of one's operations, one should also expect to encounter a lot of challenges because one is just starting to make one's presence felt in a new territory.
Overall though, penetrating the global market is certainly a worthwhile endeavor for any business despite the challenges it presents because it offers one a superb chance to make one's business far more popular and potentially far more profitable.
Both David Masters & Christopher Baxter are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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