About Affiliate Marketing

Affiliate marketing has been made very popular on the Internet by companies such as Amazon.com, ComissionJunction.com and ClickBank.com.

Strictly speaking, because you are getting a one-time commission for most of your sales in an affiliate program this income is not really recurring. The trick here is to join affiliate programs that offer a monthly service such as a web hosting, or membership websites. Remember the key is that the product should be consumable or requires renewal. Also affiliate or associate programs don’t normally pay you beyond the second level so you cannot really build large organizations as in a Network Marketing company, therefore your income is a bit restricted. In this case you will have to spread wide—create a large frontline.

Most affiliate programs don’t require you to train or support your customers, so this all balances out. In life it’s hard to break the “you get what you pay for” rule. It’s the sowing / reaping principle.

In Closing

You should take a look at your income sources and evaluate them to see how many are recurring and how many are linear. The key here is that you may want to “balance you portfolio” so you can have income coming in even if for some reason you are not able to work. Especially as a small business owner this can be critical to your survival.

Even one of your fat monthly checks tucked away on a fixed deposit account will provide you with recurring income—accrued interest.

How long do you think it will take Bill Gates, the richest man in the world, to make his first billion if all his bank accounts were presently frozen and taken away? That’s the power of recurring income!

Secret of the Heavy Hitters (3 of 3)

1. Make a written plan with all your goals and steps to get there.

Psychologists tell us that when we write something down we are more likely to commit to it. That’s why you are required in a contract to place your signature on the dotted line—helps you keep your end of the bargain.

Every business owner should have a goal to which they are aspiring. If you aim for nothing you are likely to strike it. If your plan is to get to a recurring income of $10,000 per month then you should set smaller goals on your way there. Say, $3,000 per month after the first year, then $7,000 per month after the second year and finally $10,000 per month by the third year.

A very important part of writing out this plan is to calculate what is required to get to your goal. So if you must call 20 people to get 1 ‘yes’, and that prospect is worth $50 per month to you, you will know how many calls you have to make per month to get to $3,000 per month in one year. Looks simple, but most people don’t do this kind of calculation and so they run their businesses with blind expectations.

Knowing where you are going is one of the easiest ways to get there!

2. Continually work to improve your people skills, especially your listening skills.

At its core, Network Marketing is really people management. If you don’t like dealing with people then this is not for you. You are always going to be in direct or indirect contact with people and so you should brush up on your people skills.

One of those skills that you’ll need to primarily focus on is your listening skills. One of the most common downfalls of Network Marketingers is that they talk too much and don’t listen enough. This applies to the majority of salespersons. You have to always take time to listen to the customer because if you do - they will tell you what they are looking for! Here are some quick tips to improve your listening skills (particularly on the telephone):

(a) Well ... just stop talking and listen. That’s the toughest part.

(b) Learn to view things from the prospect’s position. Is your prospect a single mom struggling to make ends meet? Empathize and provide the solution.

(c) Restate what the person tells you to be sure that you understand what they are saying. This also makes the other person feel “heard.”

(d) Try not to interrupt them while they are talking—another hard one.

(e) Ask a lot of questions for clarification but not to be confrontational.

(f) Avoid jumping to unnecessary conclusions and learn to “listen between the lines.”

(g) Smile! You’ll be surprised to see what this does to your tone of voice.

3. Stay informed in what’s happening in the industry by subscribing to at least one professional Network Marketing journal.

There are many magazines to choose from and many books written on the subject of Network Marketing. As an “expert” in the field you should be able to speak of it in a professional way and be aware of the latest trends and technologies available to you. Think of how impressed your prospects will be when you can quote them the latest statistics. This helps you to build immediate credibility with your prospects. If you expect to make $20,000 per month, think about what other professionals with similar salaries had to endure before they reached that level, a doctor for example—years of medical schools, educational loans and internships! Don’t be skimpy on your education.

4. Write your own book or produce Network Marketing tapes and CD’s.

This may appear to be a tall order but it is not as difficult as it first appears. First you can publish an E-book even if you have this book written by a professional ghostwriter. You can place a bid at a website such as Elance.com and have writers bid on your job. This book will have your name on the cover and no one has to know that you never wrote one word!

Audiotapes and CD’s can be produced at home using a stereo recorder or in a local sound studio. You can also use your computer with the appropriate software and hardware to do this. There are many companies that will reproduce these recordings for you at minimum cost. Having your name on these products can be a real income booster. People want to know that they are following a leader and that is the way you are presenting yourself.

Secrets of the “Heavy Hitters” (2 of 3)

1. Train and then let loose!

The real power of Network Marketing is the power of leverage. Rather than using 100% of your own effort, you are using 1% of the effort of a hundred. If your down line members become too dependent upon you then they will be using 110% of your effort. This can easily lead to rapid burnout.

So the key here is to train your frontline members, then train them to train their frontline members. As you gain leadership experience in the business then you can occasionally pick up the slack for a colleague. The important thing here is that your team members understand that effort is required on their part or they cannot expect your support.

Here are some additional insider tips on really hitting the ground running. These ‘secrets’ are learned from the study of those who have made millions in this industry.

2. Talk to many at the same time instead of one at a time.

We just mentioned that the real power of Network Marketing is leveraging your efforts. Did you ever notice that the real successful people in this industry never talk to one person at a time? Just think about it. Your recruiting message or script will be the same for each prospect. You are introducing them to a business opportunity. If you were to use the telephone to do your presentations, how many prospects can you talk to in one day? So here is what the serious marketers do:

(a) Set up a toll free number with a recorded message and invite callers to leave their number and other contact information.

(b) Advertise conference calls where many people can join and listen to your presentation at the same time.

(c) Run a message board on your website where people can ask questions and discuss the business.

(d) Host an online conference chat room.

(e) Buy leads and load them into an auto responder with your prospecting message. Be careful of here to avoid SPAM complaints. Also confirm that the auto responder company that you use allows you to use purchased leads.

3. Target other network marketers.

This may seem to go against the issue of not jumping from opportunity to opportunity, but it is much easier to work with someone who has already worked in the industry than a totally new person. There are list brokers who specialize in mailing list of distributors from companies that have closed down. For these individuals you don’t have to teach them to fish, they already know, and that can be a plus.

In addition to this, you can expect that if they join forces with you they can bring their entire down line from the old company. Of course, one challenge is that these seasoned marketers will also be more difficult to recruit since they will take a more critical stance of your opportunity.

4. Target business-minded people and entrepreneurs.

Here again you are targeting people who are already motivated and understand what it takes to run a successful business. These individuals would also already be networking in their businesses and therefore would be in a position of influence. Such people include chiropractors, real estate agents, sales people and internet marketers. These professionals come in contact with a large number of people and could be the boost that the organization needs. The more ‘business minded’ your prospects are the more likely you will recruit them.

Secrets of the “Heavy Hitters” (1 of 3)

Now we come to the positive side of the equation. Ninety percent of conquering a problem is to identify the problem. Even addicts have to first agree that they have a problem before they can be helped. So if we can quickly review the major reasons why people fail we can just avoid those pitfalls. Let us take a look at these pointers:

1. Be prepared to handle rejection. Who said that any kind of selling was easy? But it all comes down to attitude. If you can understand that a rejection of the opportunity that you are so excited about is not a rejection of you as a person, then you are on your way. “No” must be interpreted as “next”. This is easier said than done but it’s the price of success. The Internet and other new technologies now allow some rejection proof approaches, such as using lead capture pages and autoresponder messages. These methods serve to “pre-qualify” your prospects. There still must come a time when you will have to be in personal contact with your down line members however.

Part of preparing your mind for these ‘negative’ people is to fill your mind with positive messages. There are many Network Marketing and “positive thinking” speakers that will help you keep your spirits up. You will be surprised to discover the boost that motivational tapes and books can give to your attitude in general. This is one of the benefits of being in this industry—it teaches you to have a brighter outlook on life.

2. Be realistic in your expectations. To expect too much too soon will only set you up for a possible let down. Accept that this is a legitimate business that requires investment of time and effort and you must be prepared to sow the seeds for the harvest you expect to reap. Who builds a house without first considering the cost?

When you are quoted the salaries of the big recruiters, be sure to ask how much time and money they spent to get to that level. This information will give you a clearer picture.

3. Once you find a reputable company be prepared to stay for the long haul.

This goes without saying but if you expect to succeed you must stay the course. The most successful people in life have gone through very trying times but they stuck with it and left a legacy behind. It is often said that tough times don’t last but tough people do. The same is true for those seeking to build a solid recurring income. You should commit yourself to at least 3 years before making a decision either way.

Jumping from one opportunity to the next only shows a lack of decision and stability in you planning. Teenagers are expected to fall in and out of love every few months, but married couples have committed for life. Be prepared for a marriage not a fling!

4. Do not make the business more complicated than it needs to be. Stick with what works.

There is always the temptation to improve on the methods that experienced networkers have shown to work. Go with what works, not with what should work. If you find a system that has been working just plug into it and squeeze the last drop of success you can get from this. This means that you must show yourself teachable to your up line and be willing to teach your down line members the same system. Success normally comes from doing what works over and over again until it becomes second nature.

Another note of caution is that you should not expect from your recruits what you are not doing yourself. There a many networkers who will give advice that they are not willing to follow. In other word they get their team members to “do the dirty work” for them. This practice takes away from the real meaning of duplication—I’m doing the same thing that I’m teaching you to do.