How to Become Filthy, Stinking Rich Through Network Marketing

Without Alienating Friends and Family

Mark Yarnell, Valerie Bates, Derek Hall, Shelby Hall

• Publisher: Wiley
• Year: 2012
• Print ISBN: 9781118144268
• eBook ISBN: 9781118233078
• Edition: 1
• Topic: Business
• Subtopic: Marketing
• Index: Business

A contemporary approach to network marketing—from the author of the million-copy bestseller, Your First Year in Network Marketing

This is a book about reality—an unpleasant reality that no one seems to want to address. A large number of the population was hit with substantial loss of income and savings during the recent economic meltdown. Many feel that they have no way to build back their savings in order to retire comfortably and securely. Many now believe that there just isn't enough time left to turn it around. How to Become Filthy, Stinking Rich Through Network Marketing is for those who refuse to accept this nonsense.

With such a confusing array of home business opportunities and so many millions caught in the financial meltdown, there has never been a more important time for due diligence and a proven path to follow. In How to Become Filthy, Stinking Rich Through Network Marketing you will learn how to:

• Select the right networking company based on expert advice and solid criteria
• Thrive as an entrepreneur
• Deal with fear, rejection, inertia, and naysayers
• Build professional habits that drive success
• Lead, motivate, and serve your team
• Recruit with rejection-free strategies

Learn how to develop an entrepreneurial spirit through network marketing in order to build dramatic prosperity today.

Part I

WHY NETWORK MARKETING?

In Part I, we will prepare you for those philosophical questions and answers so necessary for success in our profession. Many people have false stereotypical images about network marketing, which must be addressed and those who pick up this book in order to evaluate our industry should be prepared to change their thinking. In fact, many professional networkers will benefit from a review of the fundamental mind-sets so critical to long-term success. Some veterans will have never seen these philosophical concepts explained in this manner.

The truths are these: Nobody has to alienate her friends and family, and boomers have no need to fear retirement. Nobody has to ever again be hampered by financial limitations nor should anyone ever again have challenges picking a viable company. Ours is a profession of equal opportunity for everyone and in spite of global economic problems that affect many folks, ours is a field that can thrive in bad times as well as good.

The reason many great people get into financial trouble in every sector of capitalism including ours is the fact that tacit wisdom is not transferrable. Tacit wisdom is that knowledge gained through hands-on experience in a specific domain. No matter how much we know about real estate, education, or insurance, there is absolutely no way that we can expect our philosophical considerations derived from those professions to benefit us in a field as different as network marketing. Part I of this book will alter your thinking and that is the critical factor so often ignored by most other books.

Chapter 1

HOW A GROWING INDUSTRY CAN MAKE YOU RICH

Mark Yarnell

Radical wealth through network marketing starts with a critical decision that must reflect the core values and personality style of each participant. Simply put, some people are very comfortable with high-risk endeavors, while others prefer to undertake more stable circumstances. Pick the wrong company and you are hooped from day one. And it’s not about money; it has much more to do with finding balance and harmony in one’s core values and work ethics.

For example, John Terhune is a consummate professional in multiple business and legal sectors. I met him through a mutual friend who felt we had much in common. Although we are in different organizations, we have enjoyed his friendship and learned a great deal from him. If anyone has the personality, credibility, and competencies to thrive in international network marketing, it’s this legal scholar/prosecuting attorney from the American South. During his third year of law school, John won the award as the Best Student Trial Advocate in the nation in a competition sponsored by the American Trial Lawyers Association. In his eight years as a Florida prosecutor, he won 98 percent of all his cases and served as chief of the entire Felony Division. I think it’s safe to say that a man of his stature has the capacity to perform effective due diligence.

In fact, if anyone were capable of succeeding in any network marketing company—whether new or well established—it would be John Terhune. John enrolled in a 30-year-old stable company when he launched his networking career, and immediately began to rise through the qualification ranks, until, in record time, he achieved an extremely impressive promotional or leadership level. But unlike many others who did everything conceivable to hit a rank only one time, John achieved it consistently each year for half a decade—an accomplishment that qualified him to fly all over the world as a speaker/expert.

John explained to us that while the recognition and travel were marvelous, they never quite translated into the kind of income or personal fulfillment he had been seeking. He told us he felt like a young trailblazer trapped in a world of elderly settlers. While his colleagues, who were at or below his level of achievement, were out earning him by millions, John was making little more from the company he was representing than the amount he was spending on travel. After five years, he had basically made it to the break-even point in terms of income, while others at his level were building fortunes. It just didn’t make sense.

One day while attending a corporate function, John decided to ask several of the organization’s veterans why—and how—they were making so much more money than he was, in spite of the fact that they were all at similar pin levels (i.e., leadership levels). Without hesitation, one of the “good ole boys” offered him a one-word explanation that put it all in perspective; he looked at John and said, “Timing.” That single word was the game-changer for John. He came to realize that he was indeed a pioneer stuck in a world of settlers. Those who had blazed the trail in his company three decades earlier were always going to be light years ahead of him financially, and they admitted it.

Imagine how the explorers Lewis and Clark would have felt under similar circumstances. What if they had crested a foothill in what is today Colorado and come face-to-face with a valley full of 50,000 men, women, and children? Now imagine that after arriving, the pair sought out the group’s leaders, only to discover that they’d been in the valley for years, and that a number of others in their party had already reached the West Coast. Do you think after discovering this fact that these great adventurers would have continued westward and pretended to be trailblazers? Of course not.

Neither did John. As soon as he realized that the trail had already been blazed in his former company, he left to seek out greater challenges.

Today, John is a pioneer in a young venture. He’s already earning a small fortune for his efforts; more important, he is enjoying the risk, adventure, and uncertainty that trailblazers find to be so fulfilling and vital. The financial rewards will be staggering when his company matures.

But, as I said in the Introduction, money isn’t the only adult “report card.” Instead, one of John’s greatest rewards has been the opportunity to train other pioneers. Most of us derive serenity and personal satisfaction more from our journey than from our arrival at some preconceived, arbitrary destination. That’s why it’s so very important to pick a company that matches one’s personality type. In fact, those who pick incompatible companies will generally fail, and certainly never thrive or achieve fulfillment. Even if they receive pin-level recognition early, the process itself will often prove unfulfilling. John is a prime example of this: Though he picked a stable company for his first vehicle, it just didn’t offer him the chance to express his pioneering spirit. So he summoned the courage to blaze a different trail.

As we’ve learned more about human psychology, a very interesting character trait has become apparent in individuals who tend toward network marketing. The trailblazer thrives on adventure and risk; he or she cannot possibly feel exhilarated working in a long-term, stable company. In contrast, the settler generally feels very uncomfortable in a ground-floor, higher-risk venture. Regardless, some settlers want to feel like gutsy trailblazers, and some trailblazers want to feel like settlers or stable professionals. Unfortunately, it’s seldom a good idea to make a career choice based on wishful thinking.

It’s common for a settler to be seduced into joining an upstart venture by a competent recruiter because, as we’ve pointed out, most risk-averse people would like to be more adventurous. Likewise, many a trailblazer has been persuaded into a long-term stable company by an articulate family member or friend. Candidates see the huge checks earned by people who’ve been involved with a company since the early days, and come to believe that they can achieve the same payoff without having to face the upstart risks that early adopters encountered. They are told that although they missed the first big wave of momentum, they can still enjoy the wealth produced by catching the second wave.

We make no judgments about companies, whether they are upstart launches or long-term corporations. They can both be fabulous. In fact, every stable company was once a risky upstart. But we want you to understand from the very beginning that your company choice should reflect who you are—not who you hope to become. Why chase after the potential huge checks of an upstart venture—especially since we all know that most companies fail—if you are averse to risk and loss? On the other hand, why would you join a stable company with leaders on every continent, and settle for substantially less reward than those who joined 10 years earlier, if you are not threatened by failure and would love the gamble and adventure involved in taking a shot at the big money?

How do trailblazers get seduced into a company of settlers? It’s simple. They tune out the needs of prospects and focus solely on their own. Some snakes in suits gravitate toward stable companies, while others join upstarts. A well-known example from recent headlines should put this fact of human nature in perspective for you. When notorious stockbroker Bernie Madoff’s Ponzie scheme was exposed, a huge number of wealthy, successful professionals emerged as victims, many of whom lost millions. A large percentage of them were celebrities, both wealthy and well connected. Almost every one of them interviewed expressed the same dismay; over and over, they asserted, “Madoff was so believable. The returns were so far beyond other investment strategies that I was willing to gamble my assets.” Some lost their entire retirement capital to this seemingly kind, little old guy they called Uncle Bernie. Those people were risk takers. Many bet the farm in spite of the fact that the expected returns were highly unrealistic.

The same problems exist in network marketing. Remember, anyone can join any company at any time, and there’s a miniscule cash outlay for involvement. Very few companies expect people to invest more than a few hundred dollars for products. In spite of the huge upside potential and relatively minor risk, people use numerous and humorous excuses to avoid our profession. Some settlers pretend that they have to talk to their spouses to get permission to invest a tiny amount of money, while others insist on “trying” the products—even when there’s overwhelming scientific evidence to prove that they work.

Conversely, whether investments or direct selling opportunities, trailblazers think nothing of throwing investment capital into dubious gambles so long as their return is potentially huge. It essentially comes down to varying personality styles. Statistically speaking, network marketing companies do not fail at a higher rate than companies in other industries. But believing they do is a common fallback position for people who are looking for an excuse not to participate in them. We saw a relevant bumper sticker on a Cadillac convertible in Vancouver that reads, “Work is for people afraid to do network marketing.” Many networkers detest structured work; some of us fear it.

Equally critical is people’s ability to dissect an opportunity intelligently and perform proper due diligence once they’ve selected the company category (established or upstart) that best fits their psychological profile. So evaluate your personality style in regard to risk, and ask the right questions about companies so that you can determine whether or not they might be a good fit for you.

Until now, few trainers or authors have addressed the subject of conducting company due diligence for fear of alienating independent business owners/distributors who have made poor company choices. Why rock the boat if the goal is to sell books? Well, here’s why: Far too many people join companies, fail, and spend the rest of their adult lives denigrating a potentially lucrative profession—when they’re the ones to blame for failing to ask the right questions in the first place. We are weary of hearing people denigrate a great profession and distribution model because of their own poor choices. For every trailblazer like John Terhune who figures this stuff out and starts over in a company that better matches his talents, dozens simply quit and bad-mouth the entire industry. And it’s truly amazing how many spirited trailblazers hang around a dead company because the cadaver is still twitching.

Every field has its Bernie Madoffs and Warren Buffets, both financial planners and investment experts. Until regulators started asking the right questions, both Bernie and Warren were considered respectable members of the same profession. Let’s just say that one of them is now eating a lot more macaroni and Spam than the other. We will teach you how to ask the right questions so that you can navigate safely away from pyramid schemes and toward legitimate upstarts. The regulators have guidelines that you need to know. What’s even more important—given there are good and bad companies in both categories—is your ability to match your talents and competencies to the right vehicle.

We live in a world of constant change brought about by the Internet and other dynamics. The paradigm shift in how we communicate will forever affect the way we spend our well-earned money and how we choose to allocate our time. The Internet has become a virtual treasure trove for consumers who prefer to buy products conveniently and in the privacy of their own homes. No longer do we need to fight traffic and crowds to visit the local store; and buying on the Internet is almost an automatic process when one has to search for an unusual item.

This change in our buying habits is also fueling the growth of the network marketing model throughout the world. Many experts predict that our distribution model will enjoy unprecedented growth and acceptance within the next 5 to 10 years. Marketers will increasingly appreciate the value of face-to-face selling, compared to the huge costs for retail slotting fees and the millions of dollars spent on product rollouts and advertising.

After we teach you how to evaluate companies, we will get down to business. You deserve to know exactly how ordinary people achieve extraordinary residual income.

We are four adventurers who have earned substantial checks, governed multibillion-dollar international corporations, worked at the top levels of strategic business planning, mentored and coached many high-level entrepreneurs, and chaired numerous charitable organizations. We’re prepared to teach you how to become a thriving entrepreneur and how to build a highly successful business—in spite of all the landmines and cow pies you’ll encounter along the way.

We all chose the world of high-stakes network marketing as our last rodeo. It’s not just what we write about; it’s what we study and practice 24/7. We are hands-on participants in this wonderful profession, and we have succeeded dramatically by applying what you are about to learn.

This book comes to you at precisely the right time. Learn the principles we detail in it and you will be able to capitalize on the convergence of multiple megatrends that will drive your business success. What began in 2011 and will continue for 19 years is startling. Each day, 10,000 baby boomers turn 65, and less than 15 percent of this aging population is financially prepared for retirement. Simply put, many of these people worked hard, sacrificed much, and bet on a system that was built on bubbles instead of steel. Most will face a final few years of economic chaos unless they can find a viable way of making up for lost income in a timely way.

An even larger number of ambitious young people are emerging from th...

Table of contents

• Cover
• Contents
• Title
• Copyright
• Dedication
• Acknowledgments
• Introduction
• Part I: Why Network Marketing?
• Part II: Your Acceleration Toolkit—the First 90 Days
• Part III: Your Marketing Toolkit—After the First 90 Days
• Conclusion
• About the Authors
• Index