Yoli Founder Daren Falter shares “Lessons from the Great MLM Losers.”
How to Select the Right Product Industry
What NOT to Sell, and Why
PART I: Lessons from losers
By Daren C. Falter
A Daunting Task
Imagine looking at a list of thousands of companies and trying to figure out how to narrow the list down to just one excellent program. This thought is enough to discourage anyone, even someone like myself who actually went through this process. I decided that if I could get the initial list down to several hundred companies instead of several thousand, this study would be doable. Here’s how I got started.
Who’s out of business?
Before I even started to seriously evaluate any single company, I decided to check to see if it was actually still in business. You see, in the time it took me to gather the list of companies printed in Chapter Three, many of these companies had already gone out of business. Why? Because there are no requirements or prerequisites to starting a network marketing company. Oh, I take that back. There is one qualification: you have to be able to fog a mirror. Now do you understand why so many companies don’t make it? It’s not because of the difficulties of starting a business or because of the instability of direct sales. It has more to do with the incompetence or the lack of commitment of these wannabe entrepreneurs.
One of my general rules (which I will elaborate on in later chapters) is that I like to wait at least a couple of years before doing a serious evaluation of a new company. Why waste time on companies that will probably not make it? My first step in narrowing the list was to not consider any company that was no longer viable or was looking like it would soon be defunct. I gathered this information by visiting websites like http://www.mlm.com, http://www.npros.com, http://www.marketwave.net, and http://www.mlmwatchdog.com, and visiting chat boards on http://www.aol.com, http://www.yahoo.com, and http://www.msn.com. I did searches on http://www.altavista.com (now http://www.google.com is better) to see if there was any information on the company. I also subscribed to trade publications such as Money Maker’s Monthly (now Network Marketing Business Journal), Inside Network Marketing Newsletter (no longer in circulation), Network Marketing Today newsletter (no longer in circulation), and other trade journals.
Remember any of these gems?
• AL Williams
• AOL Select
• Consumer’s Buyline
• Destiny Telecom
• Dynamic Essentials
• Excel Telecom
• International Heritage
• Jewelway
• Network 2000
• Nutrition For Life
• Quorum
• Seasilver
• Skybiz
• The Tax People
These are just a few of the most famous defunct network marketing companies that have tanked over the last few decades. For every well-known company that goes under, there are hundreds more that slip silently into oblivion without much notice. So why do I even mention the losers? As Brian Tracy, one of my favorite sales mentors says, “Success leaves clues.” If that is true, which I know it is, then failure must also leave clues behind, warning those who come after to beware. As I have studied both what causes companies to thrive and what causes them to die, I’m enlightened and empowered to make the right choices and advise others to do the same. Never underestimate the power of failure as a tool for success.
Bad news
They say bad news travels fast. This is even truer in the word-of-mouth world of network marketing, especially now that we have access to the Internet. Accurate and up-to-date information on any subject or topic is readily available to us with the click of a mouse. By cross-referencing just a handful of Web sites, blogs, and discussion boards on a regular basis, you can now keep your finger on the pulse of the network marketingindustry and know much of what is going on behind the scenes. I further narrowed my list of choices by keeping my ear to the ground and keeping totally up to date on industry news and events. I used sources already sited, plus I maintained contact with the best and brightest network marketing consultants and their work. By being in the know, I can avoid wasting time evaluating companies that will soon see their end.
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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