You're there. YOU are the crack team, as Donald Trump says. So forget about looking around. You're it. Here's what to do for your own product development.
First find a need. You want sales, so find something people want. How? Communication is the key. For more details go to: www.profiting-info-products.com Ask your friends, your contacts, your business associates; See what they could use to make their lives easier. Poll them, survey them, email them, and call them. Post questions on forums and chat rooms. Be like television's Lieutenant Colombo (or the original Pink Panther) and enjoy the search, but don't give up until you get your answers.
Second, get organized NOW, if you aren't already. Take good notes as you go along. Keep organized, well-labeled computer and print folders and files in handy places. Use an organizer with a calendar if you need to. Third, create a product based around the need you discovered above. No need to be Einstein or invent the wheel. Search and find others in the industry to help and see how others did their product creation before you.
For help visit: www.create-video-product.com Then copy their methods ?not ?exactly?, but rather ?similarly follow in their footsteps.? I.E. read trade journals, search the Internet, review archived magazine articles, ask your local librarian to help you ? and research ?how to? get your idea off the ground based upon how others have done it in the past. Then team up, share ideas, share resources, share marketing funds and share revenue, etc. with those experienced. Reach out and don't be afraid to find help and share. No need to go it alone or be greedy.
Third, along the way, get legal or other authoritative help as needed. Start with the Small Business Administration and find out if you need special permits, licensing, fees, contracts, legal structure, etc. Comparison shop, if possible, and get set up properly.
Fourth, there are plenty of ideas to go around. After one success, you can move on and duplicate it again and again. Do it. And give back to the community. Help others get their businesses established and growing.
In summary, product creation can be challenging. But the results can be so rewarding. So take the plunge and forge ahead.
Business Product Life Cycle
This MLM training article reveals the answer to a common network marketing question: Do you lead with the business, the product, or both at the same time? When building your MLM business it depends on what your prospect has told you what they are interested in. Read on as I clarify these steps and how to find out exactly what will motivate your prospect.
Duane sent in this question:
“I had a chance to review Brilliant Compensation again and found the reference where Tim is talking about ‘How Sales Volume Moves' using three gears to illustrate (Exploratory, Wholesale Consumption, and Retail). Under retail, he states “Also, another way I retail products is I show someone the business and the products and that person may say to me ‘I'm not interested in the business right now but I am interested in the product(s).' Clearly Brilliant Compensation predates Professional Inviter where Tim states that you present either the business or the product but not both. So I'm curious as to why the change?”
Thanks for asking this question Duane—it gives me a chance to clarify this important issue.
As a rule, when explaining my MLM business I do not go into detail about the product. However, on occasion it's somewhat impossible to explain the business to some people without explaining the product to them.
Meaning, some people are “product” people that believe that nothing else matters other than the product. This would be contrasted to someone who believes that the most important thing in selecting a business is that the company is going to stay in business long term—or the product is in front of large trends, etc.
I found when selling skin care in particular, the comment, “If I like it, then I can sell it” came up. Therefore the prospect needed to try the products and like (love) them before they would feel right about joining the business.
Some of those ended up being customers but not doing the business. So I have gotten some customers this way—not a lot—but some.
In weight management, I've heard similar comments like, “If I get results, then I can sell it.”
In these cases, during the explanation of how to achieve their needs/wants/don't-wants, if one of these types of comments are made—go ahead and explain the product—but do so without using big words or slang words the prospect doesn't understand. And, I prefer to keep the specifics of the product out of the explanation and only explain the general product category.
In summary, here is an MLM training nugget you should follow:
1. Greet prospect
2. Qualify—find out what they need/want or don't want.
3. Invite them to look at something that will help them achieve step 2.
4. Handle any questions or objections
5. Close to action
6. Follow up/follow through. In the follow through step if they say something like, “I have to believe in the product…” Reply, “I respect that! So let's get you some products to try.”
If they don't say something like that, you should suggest it. That's what leads you to getting them the product.
In Professional Inviter, when I say, “Present either your MLM business or the product but not both,” what I mean there is, when trying to get a customer don't explain the product and then say, “…you can make money doing this.”
I've seen this kill the product sale because you've now introduced a LARGE thing for them to decide—THAT THEY NEVER ASKED FOR!
When you were first doing the Inviting Formula (the six steps above) and they stated they wanted to; “have better skin,” or “lose fat,”—that has nothing to do with making money—then you shouldn't bring it up.
But, if while doing the Inviting Formula they say, “I want to make more money” and during the discussion they say, “I have to believe in the product”, then you help them get the product.
The bottom line to all of this, is that you must be very aware of what your prospect really needs and wants. I don't recommend that you always present both the MLM business and product at the same time. The guidelines I shared above are the only times I will include both product and business in the same conversation.
The key is to only talk about and present what your prospect specifically needs and wants. Then, you show them how your MLM business or product will help them achieve it…and that's exactly (and the only thing) you present.
Both Amit Kumar & Tim Sales 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.