All language subtitles for [DownSub.com] Rise of the Entrepreneur...

I'm speeding speeding speeding five four

three two one

the world is changing faster than ever

what used to take decades is now taking

years or even months what you see right

now is the illusion that people have had

for many decades and about the workplace

being the secure place to work the rest

of your life for the first time in the

history of our nation our children will

not do so as us we've seen our friends

get laid off we've been laid off we've

had our pay cut people are overworked

and underpaid they seem to have less

time and less freedom they live under

constant pressure this is going to be

forced and so even if your employer

loves you make named after country

there's something wrong that on Monday

morning the heart attack rate increases

by 35% technology is accelerating job

Security's declining just doesn't seem

like the old models of making a living

ours reliables they used to be every

aspect of our lives there's a better way

out there but we still doing it the old

life we live in the greatest country on

the planet and there are a lot of people

sitting around complaining and being

cynical like everyone's whining about

this old model and that I'm like once

you leave it look at all this over here

look at all this opportunity since so

much of our lives revolve around our

work and the way we make our living many

people are thinking there just has to be

a better way the biggest challenge

facing our world today is not making

money is what are we going to do with

all the displaced unemployed people are

afraid that they're going to make the

wrong decision people are afraid of the

unknown people are afraid that maybe I

don't have the skills hey sports fans

Industrial Age is over it's dead it's

dying

that's why going to school to get a job

is an obsolete idea of steady paycheck

is an industrial age idea

it's the search for answers that has

brought us here together today my name

is Eric worry

and for almost 30 years I've been an

entrepreneur struggling at times but

ultimately succeeding as a best-selling

author speaker and business owner I've

spent my entire career helping millions

of people around the world to become

entrepreneurs and I believe strongly

that there is in fact a better way when

it comes to how we make a living the

career landscape has changed

dramatically and many are still working

in a model that is completely out of

date what worked for previous

generations isn't working as well for

people today in this film we're going to

explore three important questions first

what's really going on in our working

world today second in this new economy

is it better to become an entrepreneur

or is it safer to work for someone else

and third if a person decides to become

an entrepreneur and start their own

business how can they do it without

taking on massive risk to help in this

journey I've brought together some of

the greatest experts and thought leaders

in the field of entrepreneurship to

share the real facts with you my

intention is to give you new information

that will allow you to make choices that

are not limited by an old outdated model

let's start by understanding what's

going on in our working world today

let's look at unemployment 30 40 percent

of the people are honestly not working

but would be working what our government

does is if you haven't found a job in

six months we don't call you unemployed

we pretend you dropped out of the labor

force I've often said that unemployment

particularly structural unemployment

that's unemployment due to technological

changes is the first sign of economic

growth

thank you for 10 people live in an

island they go out everyday and fish one

day new technology shows up a missionary

brings them a net now using the net one

pilots the boat one throws the net two

fishermen can do all the work 10 years -

that's a 500% increase in productivity -

doing the work of 10 in one day you

don't have to learn a lot to learn how

to throw a net instead of throw a

fishing line Dan's got a big problem 80%

unemployment but the island still has

all the wealth of the fish because the

two people produce as much fish as

tended now of course looking back in

history these changes used to take

thousands of years and during that time

we went into farming and transportation

some of us became doctors and some

teachers and lawyers and we developed

all these new professions and new

manufacturing jobs today these changes

are occurring literally in one day when

a new technological advance occurs and

we don't have the social structures to

deal with it or to retrain the

unemployed people so one of the things

that I think is interesting as I travel

across the country and really travel

around the world is the way that we work

and the way we get paid for work is

changing pretty dramatically on a global

basis everything is being turned upside

down because of the rapidly advancing

technologies they are eliminating many

jobs and we have been left with many

people not prepared for the jobs that

exist a lot of demand in public

companies was to squeeze out all the fat

and to get just as much margin as we

possibly could and fat equals humans so

this idea of job security and

information it is so obsolete but it's

still taught inside our school system

and that's where the problem starts

there's no financial education at

schools

and people are still trained to be

employees work for that paycheck this is

a chart on the middle class what's

happening in the middle class those who

went to school their incomes have been

coming down for years and parents still

say the kids go to school get a job now

what happens to all those middle class

people who are dropping off the ends of

the off-the-chart well they become

what's called working poor and this is

what happens to working poor but they

say poverty is ending well poverty may

be ending but working poverty is going

up and this is food stamp usage so food

stamp usage in America is going through

the roof right now because people cannot

earn what they call a living wage most

people have experienced financial

pressures that I think are probably

greater than they have been in the past

if you're not working for yourself then

it's going to be a pretty hard road for

a lot of people today if you're going to

control your future the 40/40 plan is

gone where you can graduate from college

and get a job and work for 40 hours a

week for 40 years that day is gone so

some of these charts actually tell you

what's going on and this is a really

interesting one you know people are

going back to school because if I go

back to school I'll get a nice job but

this is what's happening - it's called

Sallie Mae which is the student loan

case student loan is going through the

roof it's now over a trillion dollars in

student loan debt is worse than credit

card debt so when people stopped using a

credit card the government got people in

to sell or student loan debt as to the

problem with student loan debt you can

never be forgiven see with credit card

debt you can declare bankruptcy and

all's forgiven

but student loan debt you can take

declare bankruptcy he's too old

it's them is the worst of all debt but

this in the next picture look at this

chart here this is what's happening to

wages of college graduates it's going

down so you go to college you rack up

all this did but you weren't less money

now that's not that intelligent average

person who's been working a lifetime in

America today is ending their lifetime

at 65 with about 41,000 dollars in

assets they earned just enough to

survive I think in the United States we

have something like 17 trillion in in

debt that's just a federal government

debt we got another two and municipal

and in other let's call it almost twenty

trillion government we've got 40

trillion in private debt that comes up

to close to 63 when you then add

something we never had before what

you're talking about when we look at the

unfunded portion of Social Security and

primarily Medicare Medicaid that it the

most conservative estimates from outside

firms kleiner perkins 67 trillion and

growing that's it that's more than all

our other debt there's less conservative

estimates that say it's 84 trillion or

higher I added up conservatively 127

trillion dollars in total debt debt is a

financial drug when you take it to

excess it's like taking a drug yeah it

makes you feel better it enhances your

performance but if a huge cost

eventually kills you and and so that's

what happens we keep doing more and more

debt and you get less and less results

just like a drug until the debt gets so

high that it crushes the whole system

that's where rap 8.2 times GDP you know

I feel sorry for I feel sorry for the

person who dreads going to work who is

sick to their stomach on Monday morning

who hates their alarm clock who gets a

little glimmer of hope on a Wednesday

because it's hump day and says thank God

it's Friday and they live for those two

days a week where they get to be

themselves and give they don't have to

be around people they don't they don't

like and they don't have to play the

political game in the office and they

don't have to live this half life the

that works 50 weeks a year just to be

able to have the two weeks for vacation

and you know what happens to most of

them nowadays they don't have a vacation

they have a staycation they have time

off of work but they don't get to go

where they want to go because they're

overextended they've got all this debt

they got on this situation they hate

their alarm clock there they can't sleep

until they're done they have to spend

most of their life in traffic I feel

sorry for that group of people because

there's a better way they just don't

know it I see this really interesting

attempt at rugged individuality in a six

by eight rectangle and I feel like

you're all the same except for the

little pushpins of the pictures there's

different pictures yours name Jenny and

this is named sue Jarrah

but it's the same people and this is how

they are and they're just like the

zombies and there's no joy in there

there's no fun there's always like the

wacky woman who decorates our cubicle

and that's that's the most she can do

there you got to get her credits write

that with a wacky cubicle woman the

basis for their life is worried and I'm

worried you know maybe I'll get fired

I'm worried maybe my company will go out

of business I'm worried I can't keep

split spinning the plates on paying the

bills I'm worried about how do I send my

kids to college I'm worried what if the

transmission of my car breaks that's

no.23

I can't fix it people live in a in a sea

of worry and it eats at them those signs

that people held up during the

Depression

didn't say looking for a gainful

employment in a cubicle instead looking

for work work is what we're looking for

a job is just a unit of measurement work

is what we're going after it's time to

look in the mirror and say it's not the

economy it's my economy it's my little

world where I am I need to improve I'm

not going to wait for the economy to

come back because frankly the economy is

doing great in this country so I'm here

on Wall Street the financial center of

the universe the

natural capital of the world this is

where most people's money goes to at

least be held for a time right with

interest rates in banks being

effectively zero and many experts are

predicting it's going to stay at zero

for the next ten twenty even thirty

years people feel like they don't have

any choice but to put their future into

equities to put their future into the

hands of other people on this stock

market and hope that the stock market

goes up hope that the stocks that their

advisors pick or that they pick goes up

that's one way to go I guess

it's my personal belief that if you put

your future into the hands of yourself

in other words you have earning power by

yourself I think you're a better

investment than these guys I think you

can controlling your future is a better

option than handing over your retirement

to these guys the average household

income in the United States is

approximately fifty thousand dollars a

year what they call the middle class to

reach the top 25 percent of income

earners you need to earn at least 90

thousand a year to reach the top ten

percent would be a household income of a

hundred and forty thousand the top five

percent one hundred ninety thousand and

to be in the top one percent you'd need

a combined household income of at least

three hundred and eighty thousand

dollars a year so here's the question

what do you think would give you the

best chance to move up and get to the

top 10% the top 5% the top 1% of Beyond

in my opinion and in the opinion of many

many experts the answer is to become an

entrepreneur to become your own boss I

think you have to be a business owner I

I can't the only time I ever say to

someone to be great even employees when

they've already told me they've

surrendered I only tell people who are

wounded spiritually that they should be

an employee and it's that feeling that

you get when you pick up the backpack

off the little Cub Scout and say don't

worry little guy we'll get you back to

the camp you know it is not a it is in

no way a kindness when I tell someone

maybe a great employee the other status

symbol really increasingly is lifestyle

abit people can own their own business

maybe even work out of their house that

I tell people admire that look gosh I

wish I could do the spirit of the

entrepreneur is to be a risk-taker and

to be resourceful and unstoppable and to

have a vision of yourself beyond where

you are and not willing to settle for

life as it is you think about the great

entrepreneurs they're visionary they

have heart they're willing to do today

what others want so they can do tomorrow

what others can't personally I don't

think of the new economy the old economy

I create my own economy the

entrepreneurs in control I decide what

the economy is going to be like in the

world of entrepreneurship there are no

limits it can make as much as you want

depending on how much you want to work

and how smart you are and how great a

team you put together there's no more

lifetime rewarding business than being

an entrepreneur why in America where

anyone could be anything where people

want to give up their freedom and become

effectively a modern-day slave told shut

up and be here every morning at 7:30

leave at 5:30 and do what I tell you if

people decide to become an entrepreneur

work for themselves they have some

traditional options but they're riskier

than you might think any kind of a

retail business retail build-outs

is extremely expensive even just these

small little yoghurt stores where

they're putting little yogurt machines

and you get all the different flavors

you're spending two three four hundred

grand to open a yogurt shop I would love

to buy a Dunkin Donuts but it's a half a

million or so to start I don't quite

have that just in case money risking

lose it all and most guys do two or

three times and even big guys like

Branson because I'm such a fan is half

this companies don't work you make a

million your problems going to go if you

make a billion your problems really

gonna go just the opposite you and I

know you're making a million you're

gonna million the responsibility you

make a billion you got a thousand times

a million responsible eats and most

people say I'd love to be my own boss

70% of Americans would love to be their

own boss according to recent polls but

they don't know how to get there cuz

what are you gonna do one you could buy

an existing business if somebody's

selling an existing business you have to

ask why usually because it's probably

hard it's probably not making as much

money as they hope to they can buy a

franchise a little less risk proven

system but it's expensive to be able to

do that 3 they could start something

from scratch and that's where a lot of

people feel like I don't have the the

chops to do it I don't have the money I

don't have the the product idea I don't

have the expertise I don't have whatever

it's going to take to be able to get

there and I can't risk my family to do

it so forth they can become an investor

a lot of people in this town invest to

try and figure out a way but you got to

be pretty smart with that game - right

venture capitalists who are the very

best and most sophisticated and

investing in new breakthrough businesses

make it on 1 out of 11 that means 10 out

11 or mediocre or fail most of them fail

that's the risk they're an angel

investors lucky to get 1 out of 15 or 20

a business is a team sport look I have

to have accountants I have to have

engineers I have to have system

designers I have to have sales marketing

I have to have accounting netted mission

statements I have to have legal and all

that the average Joe Schmo even me I go

out there I don't have the skills to to

put a business together I think the

bottom line for the four traditional

options is they take money sometimes a

lot of it they take expertise and they

take time all of that adds up to just

too much risk for most people I bought a

business from somebody else and it was a

lot of work and you know you start

wondering what did I just buy because I

guess ultimately I own your email and

list and I just overpaid for it people

that start their own business they spend

a lot of money

they spend a lot of time a lot of effort

to get things started and the more you

invest on the up front the harder you

typically work at it I'll tell you what

the success rate is in a restaurant what

is it they're crazy enough about 90% of

them fail

the name how quickly uh you're you're

less Wow

and if we're talking non franchise we're

talking she is totally different yeah

but our students aren't getting

franchise rights got if you got invested

big money exactly and with someone like

McDonald's you've had to work with the

company for a long period of time really

know they even have a chance of

investing and they'll have a chance and

it's a slim chance what if there was a

way that you had all the proven aspects

the comfort aspects and you could still

control your own life what if there was

both in other words you didn't have to

create everything from scratch you could

you didn't have to be a super leader all

you had to do what if there was a proven

product already you'd have to create the

product and there's a proven system

already proven training already

everything except an employer that was

the only thing that you didn't have do

you think more people would be open to

working for themselves in that

environment

in our search for a better way to make a

living we've come to the conclusion that

becoming an entrepreneur is actually

safer than being an employee and through

our look at the entrepreneurial options

one particular path kept coming up from

expert after expert and I think most

people will find it surprising because

it's certainly a non-traditional

business model that model is for people

to start their own business and become

an entrepreneur through the creation of

a network marketing business some people

call it direct selling because the

product is being sold directly from the

manufacturer to the end consumer cutting

out the middlemen other people call it

multi-level marketing or MLM because

there are multiple levels of

Commission's paid the most common term

today is network marketing because

network marketing best describes using a

large group of independent distributors

independent entrepreneurs to move a

product or service more efficiently so

my friend here at Donald Trump and I we

always write about the network marketing

industry and the reason we support the

network marketing industry because it

really is a business goal for

entrepreneurs because most people come

out of school looking for a paycheck

that's terrible I went to network

marketing like that I think if it didn't

exist we should invent it it is that

good I think Direct Selling is a great

way to do business today it's a very

easy to get into that industry and you

can be self-employed be in effect an

entrepreneur when we see

multi-billionaires adding network

marketing companies to their portfolio

of companies that would be a clue when

we see people who are very famous

authors and very famous business people

endorsing the industry that would be a

clue these network marketing companies

aren't 50 million dollar companies

they're billions and millions of dollars

they lead the stock market their major

companies when we're going to get it you

know and you're going to school to work

for a paycheck but if you want to be a

rich be an entrepreneur and network

marketing gives you the spirit to be an

entrepreneur a traditional company will

spend up to 50 percent of their total

revenue

on marketing network marketing companies

use a different approach instead of

having all that extensive marketing

expense they utilize a network of

independent distributors to do the

marketing for them now why do they do

this first because word-of-mouth

advertising is so much more effective

today than traditional media advertising

second some products need to be

explained or demonstrated and an

independent salesperson can do that more

effectively than an ad campaign third

it's completely efficient the company

only pays for the marketing of their

product if a sale happens and not before

imagine if Amazon allowed you to become

an independent distributor and paid out

40% of its revenue to that distributor

group all you had to do as a distributor

was recommend a product and if a person

bought it on Amazon Amazon would take

care of all the logistics and you'd get

paid for bringing the customer now

imagine you got paid for every purchase

that customer made for the rest of their

lives

well Amazon doesn't offer this option

but network marketing companies do 85%

of all buying decisions in our society

are made as a result of word-of-mouth or

reputation we're recommending things to

each other all the time you know who's

your dentist who's your doctor who's

your lawyer what detergent you know are

you using what legal system are you

using what product you using we're we're

talking to each other but the things

that we love anyway when you go into a

big-box retailer you're lucky if the

clerk looks you in the eye

much less gives you any detailed or

accurate information about what you're

purchasing so of course this personal

information is education coming from a

friend a neighbor or relative or even a

stranger but who one who has experience

with the product is extraordinarily

valuable as a matter of fact network

marketing can educate consumers probably

better than any of

of marketing it certainly can do better

than advertising because advertising

usually has a certain hype to it and you

can only get limited information so you

know network marketing Trump's

advertising if you were a typical sales

company and you wanted to sell a million

dollars a month worth the product you

might go find a hundred superstar

salespeople the quota would be ten

thousand dollars a month so network

marketing as a distribution system just

flips the numbers so we use ten thousand

happy raving fans of a particular

product and we don't concern ourselves

so much with how much product each one

of them individually sells if they sell

just a hundred or two hundred dollars a

month and there's 10,000 of them you're

selling a million to two million dollars

a month worth of product that's the best

way I can explain how network marketing

works this is the marketing arm of the

company there's not money being wasted

on bricks and mortar there's not money

being wasted on inventory that's sitting

stagnant somewhere there's a lot of

employees standing around that don't

have customers these are people they're

going to connect with customers these

companies allow people to become

independent distributors for extremely

low cost and with no minimum time or

sales quota essentially they own their

own business and can provide as much or

as little sales as they choose in other

words the distributor gets all the

benefits of traditional business

ownership without the risk the advantage

of network marketing is the ease of

entry the low risk and the low startup

cost because almost everything else has

very high risk you can get in for a

minimal investment you're buying into a

system it's already been proven products

or services that have been proven to

work the keys to network marketing is

providing an opportunity for the masses

to get involved providing an opportunity

for the average person who doesn't have

the resources to start their own

business all of this so far is fairly

straightforward but network marketing

offers another benefit and it's this

benefit that makes it so interesting for

entrepreneurs network marketing allows a

distributor to build their own network

of other distributors and then

compensates them on the sales created

by that entire group Direct Selling is

at its base very simple it's the sale of

a product or service to an individual on

a face-to-face one-on-one basis just the

way we're talking right now

but there's an important element as well

and that's the offering in conjunction

with that sale of product the offering

of an opportunity an opportunity for

someone to make something of themselves

no matter what your social status is no

matter what language that you speak I

mean look how many unbelievable people

are becoming successful to speak every

kind of language out there what an

awesome gift to give the world instead

of having to work your way up in a

system and prove that you could be a

Sales Manager they just decided

everybody can be a Sales Manager

everybody gets to build a sales team

from day one and so what that brought

into the system of growth as a direct

selling company is the concept of

compounding or geometric progression

because now you can actually grow

Salesforce very quickly because

everybody is enrolling people in their

own Salesforce people who are like well

this is weird I'm building a sales team

what do you think you do it'll egg of

their company how do you think a regular

company works network marketing is the

only industry that doesn't say your past

determines your future

it looks at your past and says okay now

what can we train you to do so you can

have a great future future every other

employer out there wants to exploit you

for what you already know not teach you

something new network marketing has a

potential to save the United States and

the world because it's going to teach

people not to be employees but to be

entrepreneurs

according to the direct selling

Association if you add up all the

network marketing companies around the

world they combine to do over a hundred

and seventy eight billion dollars a year

in retail sales to give you an idea of

how big that really is the NFL the

National Football League does

approximately nine billion dollars a

year the music industry does a little

more than sixteen billion dollars a year

and the movie industry does about eighty

billion dollars a year using a

conservative average network marketing

companies pay their distributors about

forty percent of that one hundred and

seventy eight billion dollars in the

form of commissions which adds up to

more than seventy one billion dollars a

year that's almost six billion dollars a

month it's almost two hundred million

dollars in commissions every single day

so it's certainly working and people are

making serious money in network

marketing with the growth of the direct

selling industry over the last 10 15 20

years we've seen a broader understanding

of the channel we have seen more and

more people getting involved in the

business

so our penetration in the marketplace

has increased and thus the understanding

in the marketplace of who we are as

increased and we've seen non direct

selling companies look at the direct

selling model and say something's going

on there people are making money

companies are being profitable

individuals are being motivated product

is being delivered to market maybe we

should explore this some people think

only the people at the top make money

well let's take a look at that as well

in the network marketing profession

there are roughly 500 people in the

world who earn over a million dollars a

year if you round that number up to 2

million dollars a year that adds up to

about a billion dollars a year that

takes the 71 billion dollars paid out

each year down to 70 billion so where

does the rest of the money go

the vast majority goes to part-time

people making anywhere from a few

hundred dollars a month to many

thousands of dollars a month it goes to

people who choose to make it a full-time

career move and earning even more than

that every day people are using the

money they earn to network marketing to

pay off debt

have more fun and improve the quality of

their lives everyone I know in network

marketing has been doing that since the

50s they go to work when they want to go

to work they stop working when they want

to take time with your children to have

a leisurely breakfast and discuss issues

and drive them to school

they go back to work when they get home

whoever they're working out the biggest

thing that I've seen is people that have

become much happier in their life MLM

has probably made more millionaires of

more people in more countries and I've

spoken to them in 50 67 countries than

any other single form of business

starting from another if they have a

choice between working a job for the

next 10 years or working a network

marketing business for the next 10 years

the result of working the network

marketing business will be better a lot

of people within the industry go on and

make this a career and do extremely

extremely well at it network marketing

has been nothing but good for everyone I

know that's been involved with it

because they did it seriously and they

played full-out and they've been very

successful it's been a constant barrage

of success stories and people showing

off stuff I think God as a result of it

how many people are involved

approximately 16 million Americans and

96 million people around the world are

currently participating in network

marketing and in a recent poll 82% of

those people report a good very good or

excellent experience with network

marketing so people are happy

so I've taken a look at the network

marketing profession and really tried to

understand why so many people are

confused as to the validity of this as a

business

one is this pyramid shape people get

really messed up with this pyramid oh

it's one of those pyramid things I just

think there are a lot of haters out

there who really don't understand the

industry and say oh it's a it's a

get-rich-quick scheme it's a pyramid

well corporate America is a pyramid

scheme you know Mandy goes like this

you have thousands of MBAs you know

let's say working for Ford or General

Motors or coca-cola if all these MBA is

they're all trying to get to here that's

a pyramid well one guy's gonna make it

you know every ten years one's gonna

make it whereas you look at network

marketing it's like this so you're here

and your job is to develop other CEOs

coming up behind you so it's inverse

pyramid in network marketing it's a very

simple concept if you sell product you

get paid it is paid based on production

there is no first mover's advantage

there is no investment component where

the more somebody spins the more they're

entitled to make so the to Apolo

opposites of each other it doesn't

matter what shape the company is or the

compensation plan is shaped whether it's

a circle or a pyramid or triangle or

trapezoid doesn't matter if compensation

is coming primarily from recruitment

that you've got a problem on the other

hand if an operation is basing their

compensation to participants on the

basis of sales even when those sales are

generated by people you've recruited

well then you're a perfectly legitimate

enterprise that's the legal test that's

the practical test another issue that's

been true in the past that is no longer

true now is people used to be in network

marketing loaded up with products that

they couldn't sell and they ended up a

loser they ended up with a bunch of

product in their garage then a bunch of

products sitting in their kitchen

shelves or whatever and they thought

they could sell it and then they weren't

willing to or able to sell it and they

ended up with a bunch of stuff and they

were bitter about there was this thing

called front-loading where you had to

buy a coffee about 25

larger the product you got better

commissions and all this today it's

almost all done by computer it's direct

mail comes from a warehouse somewhere

else you don't have to have all this

inventory you have to stock up it's a

paperless world now you know most of its

done online you have a back-office it

really works and I mean the technology

has changed everything third issue is

people start talking about 99% of people

in network marketing don't make any

money well we've talked about that over

the course of this journey together

almost two hundred million dollars a day

is being paid out to network marketing

distributors around the world the

naysayers the people who say that it

doesn't work are usually the ones who

just don't know how to make it work for

themselves and so they're giving you an

opinion and I tell people don't confuse

people's opinions with expertise because

opinions are free and don't confuse

sincerity with the truth because people

can be sincerely wrong but here's the

reality inside of network marketing the

vast majority of people that get

involved in network marketing just

become customers and they get involved

to be able to purchase product at a

lower price if you take a Costco as an

example if a person goes into Costco and

gets a membership to Costco so they can

get a lower price on the product we

don't call that person a loser because

they have a bunch of product that they

walked out with with a smile on their

face yet when some people want to take a

look at network marketing they say well

those people they're just using the

product and they aren't earning an

income so they must be a loser they're

not a loser they're a happy customer

that's the vast majority of people

they're involved in network marketing

now a smaller percentage of those those

people decide to go build a business

they earn 300 a month 500 a month a

thousand two thousand that's the bulk of

earnings in network marketing and then

there's the few that really decide to

take it serious really decide to build a

large network really work to make that

network very very productive and those

people make huge amounts of money

there's no cap what I do as an outside

economist just somebody look into this

industry

any other industry I speak and say look

what's the realities of this 1% do

incredibly well 10% generate some

additional income it's pretty low risk

in an effort that's mine and and 90% of

people roughly end up customers one

thing that I think is real when it comes

to people's perceptions about network

marketing is people put this and

distributors I think involved in network

marketing have some responsibility for

this they have sometimes unrealistic

claims about the product or about the

income most people who become

distributors they want the money they

want to be successful but they don't

have the skills they don't know what to

do and when people don't know what to do

and they're in a new business they're

scared and when they're scared the panic

and desperation kind of sets in so they

think everyone they talk to has to get

in so if I talk to you and you say oh no

I don't have time to do that they're

like no no no I need you you have to do

this or I won't be sick so like I start

clawing on you I started that

desperation so then I start making

claims about the product which are not

appropriate probably not even true or I

start saying oh you let me show you how

you can make all this money and you

don't have to do anything Erica and C

you just totally misrepresent the

opportunity and you you're clinging with

people because you think you need

everybody to be successful and you don't

you know one of the messages that I try

to deliver most forcefully to companies

as well as salespeople in direct selling

is that you don't have to over promise

reality is in network marketing there's

a lot of hard work involved there's a

lot of effort you're going to have to

develop yourself it's a business like

anything else it's going to take some

time but in my opinion it's better

you

it's light-years better for people

starting today than it was even five

years ago I think it's more widely

accepted now and people understand it is

a business it is being an entrepreneur

it is being a business owner our belief

system is based upon our evaluation of

something and frequently if we

reevaluate a situation our belief about

that situation will change the industry

has changed and it's grown up it's

totally transformed we've got young

people today that have grown up with

social media and they understand

networks they understand how people are

connected through technology and they

understand how money flows through those

networks so when they see network

marketing they don't see it the way

their parents saw them we've all learned

we the the larger industry that you

represent has all learned from the

mistakes and flaws and errors that have

happened early on early algorithms

didn't work the right way

that's all fixed it's like when they

design a computer program they designed

the program then they run it and then

they go back through and they debug it

the MLM industry has been debugged this

is the day of being virtual being able

to run a business from your mobile phone

I mean it's it's incredible companies

are getting smarter they're they're

implementing more consumer protections

they're implementing more compliance

training they're doing more with respect

to product research if you do get

involved and you make purchases of

inventory even on a voluntary basis if

you decide that this business is not for

you you can leave and have that

inventory repurchase by the company

there's no other business that offers

that kind of protection on a voluntary

self-regulatory basis

if you decide to look further into a

network marketing business in order to

generate more cash flow for your family

I would recommend reviewing the

following four elements first is the

product or service and on the product or

service I would ask five important

questions one do you like it is this

something you would feel comfortable

sharing with others - is there a

recognised need in the marketplace it's

hard to create a need if one isn't

naturally there third does the product

meet that need does it solve a

legitimate problem for consumers and

fourth is it priced to sell can it

compete in the marketplace and fifth is

it price for profit is there enough

margin for the company and the

distributor to be able to generate

income for the long term if you can

answer the questions on the product to

your satisfaction

the next element to consider is the

company itself is it well-run do you

believe in the founders of the

management team do you feel they have

what it takes to go all the way see it

doesn't matter how good the product is

if the management can't take care of the

company good management can change with

the times they can handle adversity they

can make good decisions make sure you

choose a company that can serve you for

a long time

the third element to consider is the

compensation plan and with that there

are three important things to look at

first a brand new person needs to be

able to generate some money fairly

quickly

it may be an obvious reason but you can

probably imagine the ripple effect of a

distributor getting involved and having

even a small victory fast that can only

help with the overall success of the

organization second a person should be

able to develop a moderate part-time

income in a reasonable period of time as

they develop their network and as their

sales grow they should be able to enjoy

more benefits and third for the people

who are really serious for those who

decide to really go pro in the network

marketing profession there should be the

possibility to make a serious full-time

income if they work hard and are

committed to developing their skills if

you're comfortable with the product

the company and the compensation plan

the last thing you should look at is the

support that will be made available to

you does the company have a website is

it does it have a solid online reporting

tool

do they have comprehensive training

available to they host events to help

you build your business if you decide to

do this what kind of a support system

can you plug into choosing a network

marketing company is a personal decision

but evaluating the four elements of

product company compensation plan and

support is a great place to start is the

company promising that you're going to

get rich quick or that you can make a

lot of money without a lot of effort

that's a red flag is there a product

that you really believe in that you

think can be sold or are you being told

by salespeople or the persons trying to

recruit you or by the company itself

that don't worry about the product all

you have to do is recruit other people

into the business red flag warning sign

if you're hearing that take a second or

even a third look get to know the

customers the products the business have

some success and see where the

opportunities might take you to move up

in the organization when I find out how

concerned are they about my education my

training in my development is there a

space for me to grow most important

question learn everything that you can

about the product make sure it's

something that you believe in and learn

everything you can about the industry

and work that system you have to be very

passionate about whatever that company

is doing I would get involved you can

always test drive anything you know the

product the service the community and

and then lean into it a bit if it feels

good then lean into it a lot behind me

is a Lincoln Memorial and this is a

place where Martin Luther King jr. had

his famous I have a dream speech and at

that speech he talked about his dream

for equality for everyone around the

world and that's a noble dream but I

think more people need to remember what

it was like when they were kids and the

dream was still alive in them before it

got beaten out of them by reality by

this paycheck by

these responsibilities and by having to

live for this job to pay the bills I

think people need to remember that go

back to that once they know that there's

a better way I think their future is

going to be much brighter they can live

a better life

so if you're considering getting

involved in a network marketing company

let me offer you just a few pieces of

advice first network marketing isn't

perfect it's emotional it's challenging

like any entrepreneurial venture it can

have its up days in it's down days but

if you have an entrepreneurial bone in

your body

it's just better second if you're going

to do it decide to be professional

decide to go pro it's better to do that

then just be this amateur sticking your

toe in the water third as any

professional you're going to have to

learn some new skills and I promise you

inside of the network marketing

profession they're not too difficult to

learn forth like anything worthwhile

it's going to take some time don't

expect that you're going to get to the

finish line right out of the gate and

fifth it's worth it it's worth it to be

able to take charge of your life again

it's worth it to be able to control your

own financial situation it's worth it

for the people you're going to be able

to spend time with it's worth it for the

things you're going to be able to see

and the experiences you're going to be

able to experience it's worth it for the

causes you're going to be able to

contribute to the lives you're going to

be able to touch the customers you're

going to be able to help the friendships

you're going to be able to develop I

promise you it's worth it remember most

people are searching for answers just

like you are but I do have to tell you

the catch to network marketing if there

is a catch if you want to understand

this from a point of view people say

well it sounds too good to be true it's

not it's hard work but here's the catch

most people still don't understand it so

you're going to have to endure the loss

of social esteem from ignorant people

the uneducated will think less of you

now if you can handle that you're on

your way if that's going to destroy you

you know what entrepreneurship in

general probably isn't in your future if

you can face that catch you can become

unstoppable I want everyone to really

contemplate this

if they're not in network marketing

you're in a job you probably have a

mortgage of rent you have debt

whatever's going on you're in a prison

you work just hard enough to keep them

from firing you and they pay you just

stuff to keep you for Quidditch I've

been there done that it bought that

t-shirt and now we're marketing if you

run into failure it's really just a

homework lesson for yourself you really

there's no one to blame you really have

no excuse not to be successful you just

don't do people don't want to hear that

but there's so much available to you if

you want to be a good network marketer

be a student to the people above you

your fellow-traveller to the people in

the same level and be a teacher to those

below and know when it's appropriate to

do which people who are not afraid of

asking people to buy things or not

afraid of persuading people with the

chance they may say no these people own

the future nothing happens until

something moves so you got to go move

you got to go do something or nothing's

gonna change in your life in the

beginning you're gonna do a lot of

things that you don't get paid for but

as you go down the road you get paid for

a lot of things that you don't do and

your job is rehabilitating the spirit

the entrepreneur spirit and all of us we

get it back either give it a strong yes

or a strong no but no wishy-washy

dilly-dally stuff in the middle

there's dreams and they're nightmares

but I believe that the biggest nightmare

of all is when you don't pursue your

dream you're going to see some

monumental growth in this profession

it's an exciting exciting time to be

involved in network marketing profession

next 10 years I see just exponential

growth when that tipping point comes

it's not a matter of asking somebody

have you ever heard about network

marketing you're really asking them

which company are you building your

wealth in we are here to fix the world

to improve relationships with other

people to improve other lives and the

real reward comes as an entrepreneur in

any level from teaching somebody

something and watching them soar there

is no greater reward

life's too short to spend it living

someone else's dream instead of your own

it's too short to spend it living in a

fraction of your potential can being an

entrepreneur be a challenge at times

sure but here's what you get in exchange

it can be yours something that you built

something that you created something

that you made happen this balloon

represents your dream it represents

entrepreneurship my wish for all of you

is that you would reach out and grab it

the choice is up to you

hey if you're involved in network

marketing there's a book that you need

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