Key2Wealth Blog

You can do it if you believe you can.

Napoleon Hill

Ambitious people dream big dreams and the only behavior they accept from themselves is to make those dreams come true. In order for you to do that, you will need to commit to becoming excellent in your field. Once you’re headed down that road, you must STAY ON IT!

Commitment means getting up if you trip along the way. It means putting one foot in front of another, even if the going gets tough. It means no detours or shortcuts - no looking back. Just keep moving forward on the road to your own success.

The biggest difference you can make is to COMMIT to make a big difference! Decide it and do it! Choose to become the best and you will. Beyond wishing and hoping, commitment means planning and doing.

Make the commitment today to improve your skills. Your first step is to MAKE THE DECISION! Your second is to act on your decision.

This is a short piece taken from a coarse I have enrolled in at Success University taught by Brian Tracy

Brian Tracy

Brian is one of America’s leading authorities on the development of human potential and personal effectiveness. He addresses more than 400,000 men and women each year and is the author of countless best-selling audio-cassette programs including The Psychology of Selling. BrianTracy.com

Lee Stuckey

Key2Wealth.net

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There are an unlimited number of ways to market your home based business.  Social Networking, print advertising, online advertising, and attending seminars, referrals and other social events are all ways to let people know what you do and more importantly, what you can do for them. Once you have spread the word that your home based business is up and running, you will need to remind your list by sending email, letters, newsletters, and other materials.

Staying in touch with your contacts every few months is the best way to let people know you are available without going overboard. In fact, some of your contacts will likely welcome the fact that you’ve taken the time to give them a call. Of course, you don’t even have to use the phone. A monthly newsletter is also a perfect way to keep everyone advised about what you’re doing. They will enjoy being informed about your new products and services offered.

Starting a website is the most effective way to communicate with others about your business. On your website, you will be able to include a summary of your products and services, how you work, examples, and testimonials of satisfied customers so visitors can get a better idea of who you are. Including contact information including your phone number and email address make is easy for potential customers to contact you.

Making it easy for these potential customers should be one of your goals when it comes to creating a promotional campaign. Never leave people in the dark when it comes to the products and services you offer, or the quality of those services. A website that is easy to navigate, professional, and includes all the information needed to make an informed decision will be appreciated by your customers.

If most of your advertising will be online, you will have to find specific audiences who need your services so you don’t waste time and money advertising on sites or search engine result pages that don’t cater to those who would want to hire you.

Conducting Internet research, under standing where on the Internet potential clients and customers can be found will help in the long run. Once you have found these audiences, you should spend your energy and money on ads, web blogs, and lining with other businesses that are similar or whose client base could also use your services as well.

Print advertising includes placing ads in local and national newspapers, niche magazines, creating color brochures, newsletters, and other information that pertains to your home business. After creating a list of contacts, you should periodically send them information about your services. If you add a new product or service to your offerings, you should let people know as this will hopefully increase your income.

Beginning a home based business can be overwhelming, but when you create a marketing strategy that incorporates some or all of the tips mentioned above, it can become easier to manage. Because a home based business may take a few months to become profitable, you will have to be patient and continue your promotional campaign. Eventually, all of your efforts will pay off as your business begins to grow. 

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Lee Stuckey is the owner of Key2Wealth.net, he writes on a variety of subjects concerning the 4 Pillars of Wealth Creation. To learn more about this topic Lee recommends you visit: http://www.key2wealth.net

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Multi-level marketing (MLM) is also referred to as network marketing. The MLM is essentially a type of business model that combines direct marketing with franchising. The term business model (watch Brilliant Compensation) describes a vast range of informal and formal models that are used by companies to represent various aspects of business, such as operational processes, organizational structures, and financial forecasts.

The MLM business functions by enrolling unsalaried salespeople to sell products and meanwhile earn additional sales commissions based on the sales of people enrolled into their downline, an organization of people that includes direct recruits, recruits’ recruits and so on. This arrangement is similar to franchises where royalties are paid from the sales of individual franchise operations to the franchisor as well as to an area or region manager.

There can be multiple levels of people receiving royalties from one person’s sales. New MLM members may be required to pay for their own training and marketing materials, or to buy a significant amount of inventory to start their career.

The compensation plans vary from one MLM business to the other, but there are basic plans in place. The Unilevel or Stairstep Breakaway plans are the oldest and most popular in the MLM business. These plans features two types of distributors either managers or non-managers.

The pay method of these plans may include overrides which are overrides from their down line. This method is  similar to other types of sales organizations.

Most plans compensate at least three generations of such managers and some up to infinity. Executive bonuses are commissions for managers who exceed a posted sales quota. (For example, 2% of the total company sales revenue may go to a bonus pool that is shared monthly to managers who exceed $10,000 in that month).

Commissions are based on the aspect of cycles, where a distributor is paid a fixed amount whenever both legs achieve a certain number of sales units each. Commissions are paid incrementally when the sales volume in each leg matches.

In recent years, the MLM business has developed an image problem due to its resemblance to the illegal pyramid or other similar schemes. MLM businesses operate in the United States in all 50 states and in more than 100 other countries around the world. They are regulated by the Direct Sellers Assoc. (DSA). Many pyramid schemes try to present themselves as legitimate MLM businesses.

In the legitimate MLM companies, commissions are earned only on sales of the company’s products and/or services. No money may be earned from recruiting alone through sign-up fees, though money earned from the sales of members recruited is one attraction of MLM arrangements.

A commonly adopted test of legality is that MLMs follow the so-called 70% rule which prevents members “inventory loading” in order to qualify for additional bonuses. The 70% rule requires participants to sell 70% of previously purchased inventory before procuring new orders. There are however variations in interpretations of this rule. Some attorneys insist that 70% of purchased inventory should be sold to people who are not participants in the business, while many MLM companies allow for self-consumption to be a significant part of the sales of a participant. The Federal Trade Commission offers advice for potential MLM members to help them identify those activities that could be scams.

If you are interested in more detaled information please go to: Home Based Business-Network Marketing

Lee Stuckey

Key2Wealth.net 

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I opened up my computer screen to an investment site I look at daily and this is the first thing I noticed.

New highs: Berkshire Hathaway (BRK-A)

Berkshire Hathaway closed at $144,800.00 yesterday for the class A Shares and about $4,827 for the Class B shares. I like that headline as Berkshire is one of the largest stock holding I have and I do not expect that it will ever be anything less in my portfolio.

Warren Buffet, the most successful Investor ever is the Chairman and CEO of Berkshire Hathaway. I think Warren and Charlie Munger(his partner) are the two most honest men and with integrity that I have ever had the pleasure to listen to in business.

Last year in Omaha at the annual meeting there were over 27,000 people. This meeting is called “Woodstock for Capitalists”.

If you are interested in reading about some of Warren’s ideas, have a look at his “Owners Manual“, I think it is well worth reading.

“I will only swing at pitches that I really like. If you do it 10 times in your life, you’ll be rich. You should approach investing like you have a punch card with 20 punch-outs, one for each trade in your life. I think people would be better off if they only had 10 opportunities to buy stocks throughout their lifetime. You know what would happen? They would make sure that each buy was a good one. They would do lots and lots of research before they made the buy. You don’t have to have many 4x growth opportunities to get rich. You don’t need to do too much, but the environment makes you feel like you need to do something all the time.

Warren Buffett

Lee Stuckey

key2wealth.net

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Last night I had the opportunity to attend a presentation in Calgary that was hosted by Mike Lathigee who is the chairman and CEO of a group called Freedom Investment Club Group.

I have been on their email list for over three years now. When I first heard of this group I felt the club was too new for me to invest in.

I do my best to follow Warren Buffett’s two rules for investing.

“Rule No. 1: Never lose money.

Rule No. 2: Never forget rule No. 1.”

Warren Buffett

FIC was established five years ago and has over 6000 members in Canada and the United States. (I believe Mike stated , 80 million under management) I felt it was now time to have a better look at this group.

FIC was recommended to me by T. Harv Eker with Peak Potentials(Secrets of the Millionaire Mind) as a group that had integrity and honesty with an average annual return of over 30%, Mike said last night the return was actually about 36%.

After listening to Mike, I was impressed with his knowledge and striaght talk, no B.S., the fact that what he said was in alignment with what I believe.

I decided to join the group and invest with them, I will let you know how this investment progresses.

This is a short excerpt from some FIC information:

The Freedom Investment Club (FIC) is a unique concept. We manage specific investment pools (referred to as the Club’s various” funds”), when offerings are open members are able to purchase shares in each of these funds. Members have the right to participate in meetings and votes related to that fund. Through the ongoing sale of shares in the various funds, proceeds are pooled and reinvested for the benefit of the shareholders members.

If you would like to go to FIC’s web site, it is at www.ficinvestors.com

Lee Stuckey

Key2wealth.net

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Network Marketing, also known as MLM (Multi-Level Marketing), can be worked successfully online as well as the more traditional, person to person, direct mail or over the phone methods.

Net work Marketing had its roots long before the internet. Some very large and successful companies were built on, and continue to thrive, based on a MLM model. The way it basically works is this: a company sells products or services through a vast network of independent distributors that sell at retail prices to the end consumer.

The new distributor usually pays some sort of fee to join and/or has to buy a certain amount of the products to gain distributorship status. All legitimate network marketing companies work on a solid business model. The parent company has a product or service of value to offer its customers. The networker’s responsibility is two-fold; to find other customers to buy the product and to recruit new members.

Network Marketing companies urge distributors to bring in new people to do the same as they are. The referring distributor then earns a commission on the products that the new distributor sells. If the new distributor also brings in other distributors, the original distributor also receives commissions on those sales and so on. This is the “Multi Level” business model. You can be paid on any where from 2 to 10 levels, some companies pay even more.

In most network marketing companies you can earn more income by referring new members than you can by just marketing the companies products. The best distributors are usually people who love the product and who would still purchase the products even if there were no business opportunity also.

If you are considering a network marketing opportunity, you should ask the following questions:

1) Who owns the company? What is their commitment level, their integrity and honesty?

2) How old is the company, most companies fail with in the first 5 years.

3) Who is your upline? What kind of training does the company and/or your upline provide. Investigate the entire upline just like you would a business partner you’d never met before.

4) What is the product? Become an expert on the product and/or service that’s being offered to clients. Learn as much as you can about the competition as well.

5) How long will it take for you start making money? Don’t fall for the line that it takes months or even years to show a profit. You should be able to recoup your investment and start earning income within just a few weeks. Although making a living may be another story. It is usually best to start your new business on a part time basis first.

6) How do you recruit new members? As a customer first, then mention the possible income opportunity, or the business opportunity first and the products second. Usually a combination of these two methods works best depending on the person that you are talking to.

7) Why pursue this network opportunity with this company? This is perhaps the most important question of all. Don’t just focus on the short-term earnings; you should concentrate on your long-term goals also.

Essentially, there are no right and wrong answers to these questions concerning a network marketing opportunity. The point is to make sure that everything you need to know is easy to find out, if the answers are vague, do more research before you decide if this is the right company for you.

Many people have made a lot of money in network marketing; this type of business can supply you with a very nice part time residual income.

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Lee Stuckey is the owner of Key2Wealth.net, he writes on a variety of subjects concerning the 4 Pillars of Wealth Creation. To learn more about this topic Lee recommends you visit: http://www.key2wealth.net, http://www.key2wealth4u2.com

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