Yeah The Magnetic Sponsoring Tim Erway
Tim Erway is probably the most well know internet marketer in the network marketing industry. After being lucky enough to partner with the likes of Mike Dillard he was able to form the attraction marketing company Magnetic Sponsoring.
Since then he has trained some of the big names in the online network marketing world including Ray and Fernie from SEO Network 3.0.
One of the great things about Tim is his down home style when speaking. He doesn’t fluff his presentations, and there is always a method to his madness no matter what he does. I have had the privaledge to hear him speak in person on more than one occation. Every time I pick up just one more golden nugget that leads to increase sales for my business.
When Tim Talks I Listen, Here’s What He Had To Say
Signs of a successful business:
Tim outlined these four key things that need to be present if you plan on running a business online. Forget focusing solely on network marketing. This model can be applied to internet marketing, services, or any other type of online business model that you create.
- Have a system that you can control. Don’t rely on someone else’s system for the entire duration of the business. Doing this doesn’t make you a business owner. It makes you an affiliate. You need to create your own system that works for you, rather that you working for the system. This is really complicated to do at first, but once you learn how your going to knock it out of the park. This is not to say don’t ever use one. You have to start somewhere, I suggest this one.
- 24/7 automated streams of income. This is one of the greatest attractions about marketing online. The ability to put system in place that works even though your on vacation.
- Provides you with assets that you have complete ownwerhip and freedom to do with as you wish. Yet another great perk of running your business. It doesn’t matter what is happening with network marketing companies, or whatever you promote. Your system is independent of them and adaptable to change very quickly.
- Gives you leverage to free up your time. Freedom, in the end that is what we all want. Freedom from a job. Freedom to take a vacation. Freedom from bills. This is what having your own business can provide.
The quickest way to give value is to invest in yourself ~Tim Erway
The Real Reasons for failure of most businesses, and this is especially true in the MLM industry.
- Deceptive marketing. Praying on people’s dreams. Or exploiting problems that they are having in order to achieve sales.
- Lack of duplication. Using a system that other people cannot duplicate without some degree of skill. Make sure you system is user friendly.
- Lack of qualified prospects. You can listen to those that say you need to recruit your circle of family and friends in order to recruit. But what happens when that circle is dried up. This is where most people fail.
- Failure to turn a profit. I am guilty of this. And I am sure you are too. We go out and buy the latest course on how to get traffic, or how create a powerful webinar. Training, training, training. But at some point its time to implement what we learned. If your not applying what you paid for, your failing to turn a profit.
The Three Success Pillars
- Traffic – Need 1 or 2 to good sources of traffic. I am not afraid of competition that knows how to use 30 plus different sources of traffic. I am afraid of competition that has mastered one. Pick a method, video marketing, social media, SEO and stick with it.
- Conversion – The most important success pillar. Its all about the ability to influence. 1000 plus hits a day to your site isn’t going to do you any good. 50 hits a day on a well converting website or offer, that is where you money is at.
- Monetization – don’t be a one trick pony, think You, inc. Your MLM is an income stream, NOT your business. This is why you see the most successful people promoting other things. They are not branding themselves. I am not Clint Butler from Numis Network. I am Clint Butler business owner. No matter what happens to any product, service, or company you can never take away my brand.
What you need to be successful in building an online business:
- Hosting and a website. A blog is must when building a brand online. People don’t want to get his with offers everyday. Provide value and when your offer is right for them at the right time, they will seek you out. This is a tenet of attraction marketing.
- Sales system. Landing pages, squeeze pages, follow up autoresponder sequence, shopping cart. You need these sooner rather than later. I know they are complicated but there are some great professionals that can help you out. Nile Flores or Kimberly Castleberry are are great place to start to get your website going.
- Merchant account. There are many different providers for this to start taking money in. Paypal is a very popular choice. I use First Data for mine because I can bring up a terminal online and take orders in the airport if I was so inclined.
- One good offer. You don’t need ten or more. You need one good one to bring people into the door. After that its all about matching up your list with the right offer at the right time.
If you can’t get people to change in 90 days they are probalby going to quit ~Tim Erway
Those are my notes from his presentation. I added a bit of my own color commentary because he does talk pretty fast when they only give him an hour to speak. But like I said, I never walk away from a speaking engagement where he is at without some new knowledge. I never sign out of a webinar without getting something great. And I never fail to implement his suggestions, implementation is the key after all.
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