Hey all, new post!
So listen… There are 2 main challenges facing most people in any MLM business:
1. Lack of money
2. Lack of leads for their business
Do either of these sound familiar? If you have plenty of one, then you should have plenty of the other. But, these 2 things are what everyone struggles with.
And, surprisingly enough, only a few people know the answer to this, but those few people are the ones at the top making all the money and getting all the leads.
The answer: a funded proposal.
Do you know what a “funded proposal” is? If you don’t, then you’re missing out on one of the best things you could have in your business.
Let me explain exactly what this is so you can latch onto the idea and implement it into your own business…
A funded proposal is simply a low-cost product or service that you offer to your leads on the front-end of your business. This could be video tutorials on how to set up a blog and drive traffic, or it could be a coaching session. If you’re in an MLM that has physical products, your funded proposal could even be product samples.
Now, where do you find the leads? Didn’t I mention that as being a problem to begin with?
Yeah I did, but I mentioned leads for your business. With a funded proposal, you’re not looking for leads FOR your business. That’s all for the backend. What you want is to find people that want to make money online and are struggling. You want to find people with an MLM business that don’t know how to market their business online, or don’t know about branding and blogging.
In that case, you’d make something of value – dare I say a ‘product’ – on how to set up a blog and implement a branding strategy, then target people with an existing MLM business as your leads. This product could be something as easy as a free video series, or a PDF series, or hell- one PDF or one video!
Here’s the concept behind this: you’re going to run out of leads in your ‘warm market’, if you haven’t already. So, you need to use the internet to generate more leads. It’s really tough converting people into your business by pitching your business on the front-end, so you need to use another approach. You need to offer those people VALUE on the front-end (for very low-cost, which is really only to separate the “tire-kickers”), and help them. Then, after you’ve provided value and built up rapport and a relationship, THEN you tell them about your business.
And guess what? They’ll be 100 times more receptive to it since you’ve already provided so much value to them. And, they’ve made an investment in something you offered to them, a financial investment, so they’ve already pre-qualified themselves!
Now take a step back and look at what this “funded proposal” model does for your business:
1. Generates Money- By charging some kind of fee (low-cost though it may be) for a product/service on the font-end, you have SOME kind of cash-flow into your business. Since you should be reinvesting this profit into your business, you can effectively fuel your entire marketing costs using the money or commissions you make from a funded proposal. This means you generate more leads.
2. Opens Up the Prospect Pool- Since you’re targeting people that are already into an MLM or want to make money online, you now have an unlimited pool of prospects/leads. With some social networking, or by blogging and creating some amazingly kick-ass content (and by syndicating that content), you’ll slowly but surely start to generate some serious traffic to your site. And it’s going to be people that are interested in what you have to say that come to YOU for marketing solutions. And you’ll be there to give it to them, paving the way for a funded proposal… (See #1 above; rinse and repeat.)
Do you get it? Do you see why you need to be doing this?
It solves the 2 main problems with people in any MLM or home-based business: lack of leads and lack of money.
Here’s an awesome example of a funded proposal, check it out here (it’s mine, by the way): http://www.followtom.com/video
And that, everyone, is the funded proposal. Use it to do some damage in your business! And if you have any questions on anything, as always just shoot me an email at: tom @ followtom.com.
Talk so