Yoli Founder Daren Falter reveals “Daren’s 7 Step Product Wealth Formula.”
How to Select the Right Product Industry
Daren’s 7 Success Secrets to Selecting the BEST PRODUCT in MLM
Introductions To Daren’s Wealth Formula
By Daren C. Falter
Part Three: Daren’s Seven Secrets
Every Criterion Unlocks The Vault To Success (ECUTVTS)
To this point, we’ve taken a lot of time to understand why we’re in business and how we can stay in business. We’ve learned how to think like a successful marketing professional and to look at the marketplace with new eyes. We’ve also studied the importance of finding a high-demand product in a high-demand industry. We’ve also established that tangible products are the most profitable and stable foundation for a network marketing business. Let’s now look at some additional criteria for selecting the best product industry.
Don’t take my word for it
Remember what we discussed in the first chapter? We talked about the importance of making your own educated decisions. Here are some steps that will help you make the right choice for you. First, approach the information in an objective, rational manner. Second, do your own due diligence or research the research. And third, with the right information and enough time to review it, make your own intelligent business decision. After all, you’re the only one who doesn’t have a hidden agenda.
Given the length and detail associated with this chapter, it is obvious that I feel that selecting the right product industry is absolutely critical. This truly is one of the most important decisions of your career, and it should not be taken lightly. Spend a lot of time with this one and it will pay off down the road. Don’t settle for a company that does not match the criteria for “best product industry.” Your ability to produce wealth through network marketing will be determined in large measure by the choices you make on which product industry you will represent. Don’t be hasty; review this chapter again carefully, and then make the right choice. The formula works. Give it a try.
Selecting a Wealth Building Product
Pay close attention to these next few paragraphs. This could be the most important part of this study. When looking for a hot product industry, many distributors feel that any legitimate product will do, as long as it’s in high demand. However, in today’s competitive market, in order for your company to stay on top, you must have more than just a high-demand product. Through years of documented research, I’ve discovered seven fundamental characteristics that must be considered when choosing a long-term wealth-generating product or service. I call the Daren’s Seven Secrets. I’ve never found a top marketing authority that disagreed on these points.
I’ve created a statement that will help you remember the acronym for these seven criteria. It goes like this: “Each Criterion Unlocks the Vault to Success!” Now examine the first letter in each of these words and you get the first letter of each of the seven steps.
ECUTVTS
Emotional
Consumable
Unique
Traditional
Valuable
Timely
Stable
Experts agree that the product or service must have the following characteristics:
1. Emotional: The product must induce a positive mental or physical change that results in an emotional attachment to that brand. Products that help people look and feel better can create an emotional bond between the customer and a specific name-brand product, which may never be broken. This bond can be passed on to others through the sharing of personal experiences.
2. Consumable: The product must be regularly used up and replaced on a monthly, weekly, or even daily basis. This is one of the most important criterions on the list! Without monthly consumption, it is nearly impossible to establish ongoing monthly income. Distributors offering non-consumables are constantly looking for new customers every month instead of enjoying the residual income that only comes through continual product consumption.
3. Unique: The product must have a unique twist, something that the competition doesn’t have or can’t get. Something that gives your product line a “WOW” factor. A special formulator or scientist, an exclusive ingredient, a twist in the formulation, or creative processing can make a product unique. Maybe it has a unique color, texture, scent, taste, delivery system, container, or logo. The product must also be exclusive to one company. Your brand shouldn’t be available for purchase in chain stores or through other companies, suppliers, or independent distributors.
4. Traditional: Although the product must be unique in some way, it cannot be too uncommon. It must be similar to other products on the market that have been sold for years and years. The product or service category must have a good track record in the marketplace. Traditional products have mass appeal over a substantial period of time.
5. Valuable: The product must be worth its price … and maybe more! Prices must not be set too high or too low for the perceived value of the product. Customers, distributors, and governmental regulators determine its value. If all three parties pass off on the value test, you have a winner.
6. Timely: The product must be in high demand right now. The product must appeal to the masses, especially the Baby Boomer generation, which consists of 76 million Americans born between 1946 and 1964. They are the largest buying force in the history of North America and are accustomed to getting what they ask for. If you can cater to the needs of the Baby Boomers, it’s hard to go wrong.
7. Stable: The product must be in high demand later. Take a look twenty years into the future. Will the product or service still be in high demand? If the answer is yes, you have a winner. If demand on the product increases with time, that’s even better. You may know about the Baby Boomers, but you may be unaware that the 76 million baby boomers have had 74 million babies. Having Baby Boomer children consuming the same products their parents are consuming will not hurt product demand now, nor will it affect demand over the next twenty to thirty years.
About the Author
Daren C. Falter is the author of the network marketing industry-wide best seller How to Select a Network Marketing Company. Daren has been a consultant to the network marketing industry for over 12 years and a student and participant for over 20 years. Daren has built downline organizations into the tens of thousands of distributors with several different companies. Daren is a popular convention speaker and trainer. You can visit Daren online at his blog at www.networkmarketingreview.com. You can also order Daren’s best-selling MLM book at www.networkmarketingbook.com.
Daren recently launched a new network marketing company, Yoli, Inc., near Salt Lake City, Utah. Daren and his four partners are excited to introduced the worlds most nutritious beverage using patented BlastCap™ Technology. For more information about Blast Cap Technology, Blast Caps, or Yoli, visit Yoli at www.prelaunchinsider.com.
Copyright ©2009 DC Falter Marketing, Inc. ALL RIGHTS RESERVED
ATTENTION: Breaking News!
Daren Falter will be launching a new company called Yoli. We will be introducing an incredible new nutritional formula in the form of a delicious functional beverage using Mikel Anderson’s patented Blast Cap Technology. The founders of Yoli are Robby Fender, Daren Falter, Rick Eisele, Corey Citron, and Michael Prichard. To find out more about Yoli Blast Cap Technology, visit www.prelaunchinsider.com
Kingsley Ennis is one of the few “hand selected” FOUNDING DISTRIBUTORS that are helping to launch this new company … and you can join him and one of the fastest growing teams in all of Yoli at the very beginning of this great network marketing adventure!
With a background in the Seminar Industry and 12 years of Noteworthy Success in Network Marketing Kingsley is the Author of “Split Second Marketing” & “Your Extreme Advantage”. You can listen to them FREE at www.usahomebusinessexperts.com
QUESTIONS ABOUT YOLI? Email kingsley@goyoli.com or call 717-303-5710.
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