Company Considers Adopting Franchise Operating System in 2009WOOD RIVER, Ill., July 15 /PRNewswire-FirstCall/ -- YTB International, Inc. (OTC Bulletin Board: YTBLA) ('YTB' or the 'Company'), a provider of Internet-based travel booking services for travel agencies and home-based independent representatives in the United States, Bermuda, the Bahamas, and Canada, today announced that the Company is contemplating the replacement of its referring travel agent ('RTA') business model with the implementation of a franchise operating system, potentially in 2009. The Company expects that a franchising model, if adopted, would facilitate the Company's expansion into additional markets by providing more comprehensive training and a new proprietary e-commerce platform.
Details regarding price, product offerings and the conversion plan are all under consideration, but the Company anticipates that its existing RTA base would be treated favorably under its forthcoming proposal. Scott Tomer, Chief Executive Officer of YTB International, Inc. commented, 'We have retained iFranchise of Chicago to consult in the planning and development of the franchise model and are excited about the potential impact on YTB's business.' If a franchising model is adopted, its distribution is expected to be managed by the current marketing arm of the Company, YourTravelBiz.com, also known as YTB.com
The iFranchise Group brings decades of experience to franchise development and implementation efforts. Their consultants have worked with over 30 Fortune 2000 companies and with 98 of the world's top 200 franchisors as rated by Franchise Times magazine. iFranchise has worked with clients such as Blockbuster Video, Ace Hardware, and McDonald's.
Saturday, July 26, 2008
Tuesday, July 15, 2008
YTB International Continues to Climb Travel Weekly's Power List
YTB International Continues to Climb Travel Weekly's Power ListMonday June 30, 8:00 am ET
Company has highest year-over-year percentage sales increase of all companies on list
WOOD RIVER, Ill., June 30 /PRNewswire-FirstCall/ -- YTB International, Inc. (OTC Bulletin Board: YTBLA - News; "YTB" or the "Company"), a provider of Internet-based travel booking services for travel agencies and home-based independent representatives in the United States, Bermuda, the Bahamas, and Canada, today announced that the Company has been named as one of the country's leading travel agencies in Travel Weekly's 2008 Power List. In this year's Travel Weekly Power List, YTB was ranked 26th among all travel agencies, and advanced nine places over the previous year's ranking. YTB had the highest year-over-year percentage increase in travel booked of all companies on the list, with an 83.3 percent improvement over the previous year's results.
The Travel Weekly Power List represents an effort to rank the nation's top travel companies. The Travel Weekly Power List is based on total dollar volume of annual and ARC (Airlines Reporting Corporation) travel bookings for 2007. The ranking also considered information on travel-related subsidiaries and corporate structure. Other leading online leisure travel agencies named in this year's Power List include Travelocity, Orbitz, Priceline and Expedia.
"Our move up Travel Weekly's annual ranking of leading travel agencies speaks directly to the hard work that has been put in by the entire YTB family," commented J. Kim Sorensen, CEO of YTB Travel Network. "We have worked diligently to increase our volume of travel by ensuring that our RTAs have the tools needed to compete head to head with other industry giants, and our year-over-year improvement in the rankings is a testimony to this effort."
About YTB International
Recognized as the 26th largest seller of travel in the U.S. in 2007 by Travel Weekly, YTB International, Inc. provides Internet-based travel booking services for home-based independent representatives in the United States, Puerto Rico, the Bahamas, Canada, Bermuda, and the U.S. Virgin Islands.
The Company operates through three subsidiaries: YourTravelBiz.com, Inc., YTB Travel Network, Inc., and REZconnect Technologies, Inc. YourTravelBiz.com focuses on marketing online travel websites through a nationwide network of independent business people, known as 'Reps.' YTB Travel Network establishes and maintains travel vendor relationships, processes travel transactions of online travel agents and affiliates, collects travel commissions and pays sales commissions. Each RTA directs consumers to the YTB Internet-based travel website. The REZconnect Technologies division operates as a travel vendor relationship management company and offers franchises of brick and mortar travel agencies. For more information, visit http://www.ytbi.com/investor.
Company has highest year-over-year percentage sales increase of all companies on list
WOOD RIVER, Ill., June 30 /PRNewswire-FirstCall/ -- YTB International, Inc. (OTC Bulletin Board: YTBLA - News; "YTB" or the "Company"), a provider of Internet-based travel booking services for travel agencies and home-based independent representatives in the United States, Bermuda, the Bahamas, and Canada, today announced that the Company has been named as one of the country's leading travel agencies in Travel Weekly's 2008 Power List. In this year's Travel Weekly Power List, YTB was ranked 26th among all travel agencies, and advanced nine places over the previous year's ranking. YTB had the highest year-over-year percentage increase in travel booked of all companies on the list, with an 83.3 percent improvement over the previous year's results.
The Travel Weekly Power List represents an effort to rank the nation's top travel companies. The Travel Weekly Power List is based on total dollar volume of annual and ARC (Airlines Reporting Corporation) travel bookings for 2007. The ranking also considered information on travel-related subsidiaries and corporate structure. Other leading online leisure travel agencies named in this year's Power List include Travelocity, Orbitz, Priceline and Expedia.
"Our move up Travel Weekly's annual ranking of leading travel agencies speaks directly to the hard work that has been put in by the entire YTB family," commented J. Kim Sorensen, CEO of YTB Travel Network. "We have worked diligently to increase our volume of travel by ensuring that our RTAs have the tools needed to compete head to head with other industry giants, and our year-over-year improvement in the rankings is a testimony to this effort."
About YTB International
Recognized as the 26th largest seller of travel in the U.S. in 2007 by Travel Weekly, YTB International, Inc. provides Internet-based travel booking services for home-based independent representatives in the United States, Puerto Rico, the Bahamas, Canada, Bermuda, and the U.S. Virgin Islands.
The Company operates through three subsidiaries: YourTravelBiz.com, Inc., YTB Travel Network, Inc., and REZconnect Technologies, Inc. YourTravelBiz.com focuses on marketing online travel websites through a nationwide network of independent business people, known as 'Reps.' YTB Travel Network establishes and maintains travel vendor relationships, processes travel transactions of online travel agents and affiliates, collects travel commissions and pays sales commissions. Each RTA directs consumers to the YTB Internet-based travel website. The REZconnect Technologies division operates as a travel vendor relationship management company and offers franchises of brick and mortar travel agencies. For more information, visit http://www.ytbi.com/investor.
Friday, April 18, 2008
Are Network Marketing Expectations Too High?
The expectations of many that start a business in the network marketing field are most of the time higher than expectations of a normal business. This is probably because some companies bring people into the MLM (multi-level marketing) industry promising huge monthly profits and financial freedom starting immediately. Unfortunately when this turns out to not be the case, the individual quits and blames the industry.
Anyone who has done a network marketing business knows that you will work and work hard to get to your dreams. This is not a get rich quick industry that so many make it out to be. If you put the effort into your business, you will reap the benefits and attain your goals.
There will be a learning curve when starting a new business. This is the case for any business whether it’s a brick and mortar business, home business, or network marketing business. Advertising a new business will have to be done to attract customers and the product will have to be put out on the market for consumer or clients to use. It will be a time consuming process. The unfortunate problem with the expectations within the network marketing industry is that people will quit before they finish the learning curve.
Some of the attrition rate in the MLM industry can be attributed to start up costs for home based businesses. Starting a home based business usually does not require a large amount of start up money. In comparison, a traditional business would require a substantial amount of money. Therefore, people are more willing to stick it out through the rough times with a traditional business. Would a traditional business owner give up on his business in three or four months if things were not going as planned? I seriously doubt it.
A network marketing business opportunity offers the same tool it takes to become wealthy as the traditional business does. That tool is leverage. Earning off the production of others is what makes a traditional business owner wealthy. It is also that same concept that makes a network marketing business flourish.
Treat your network marketing business as a serious business and give yourself the needed time to learn the industry in order to make your business successful. Don’t hold your expectations any higher than you would for a traditional brick and mortar business. Your only other alternative is to go back to status quo.
By Stephen Ipock
Anyone who has done a network marketing business knows that you will work and work hard to get to your dreams. This is not a get rich quick industry that so many make it out to be. If you put the effort into your business, you will reap the benefits and attain your goals.
There will be a learning curve when starting a new business. This is the case for any business whether it’s a brick and mortar business, home business, or network marketing business. Advertising a new business will have to be done to attract customers and the product will have to be put out on the market for consumer or clients to use. It will be a time consuming process. The unfortunate problem with the expectations within the network marketing industry is that people will quit before they finish the learning curve.
Some of the attrition rate in the MLM industry can be attributed to start up costs for home based businesses. Starting a home based business usually does not require a large amount of start up money. In comparison, a traditional business would require a substantial amount of money. Therefore, people are more willing to stick it out through the rough times with a traditional business. Would a traditional business owner give up on his business in three or four months if things were not going as planned? I seriously doubt it.
A network marketing business opportunity offers the same tool it takes to become wealthy as the traditional business does. That tool is leverage. Earning off the production of others is what makes a traditional business owner wealthy. It is also that same concept that makes a network marketing business flourish.
Treat your network marketing business as a serious business and give yourself the needed time to learn the industry in order to make your business successful. Don’t hold your expectations any higher than you would for a traditional brick and mortar business. Your only other alternative is to go back to status quo.
By Stephen Ipock
Saturday, April 12, 2008
Great YTB Video
This video was created by Andy Lakey. He is one of the Leaders in YTB and happens to be teaching a class that Amanda and I will be attending when we are at the YTB convention in August. This video shows the kind of growth YTB is experiencing and why everyone in YTB is so excited. The growth of YTB is a reason that some people out there like to post negative statements. I guess it is their only recourse when so much business is going to the Internet.
http://www.youtube.com/watch?v=Ch8tDMDi7j0
God Bless,
Steve
http://www.youtube.com/watch?v=Ch8tDMDi7j0
God Bless,
Steve
Saturday, April 5, 2008
YTB International
YTB International: Wall Street’s Next Online Travel Darling?
By: John Gilliam
John Gilliam holds a BBA from Millsaps College and a JD from the Cumberland School of Law. He is the manager of Point Clear Strategic Holdings in Point Clear, Alabama. Point Clear Strategic Holdings is a value oriented activist investment group seeking opportunities in small cap technology companies.
Priceline (Nasdaq: PCLN) is the online travel industry’s best company, as judged by the valuation currently accorded its publicly traded shares. .. -->more-->Though Expedia (Nasdaq: EXPE) has a higher total market capitalization, Priceline shares trade at a multiple of trailing twelve months earnings that is nearly 50% higher than the same earnings multiple of Expedia. (PCLN ttm p/e = 36, EXPE ttm p/e = 23).
Thus, it would not be a stretch to say that PCLN is the darling of Wall Street when it comes to the online travel space and it is easy to see why. PCLN management has steered this company from bleeding red ink and the necessity of a reverse split five years ago to its place today as an international powerhouse in online travel. Shareholders who bought into PCLN when it first started making the turn towards profitability (about 5 years ago this month) have enjoyed 5 year gains of as much as 2000% (for those who purchased near the $6 lows in 2003).
Investors seeking gains of that kind in the online travel space will likely be disappointed if they invest in one of the big publicly traded players, including PCLN. Though PCLN management appears to be executing magnificently, the company’s stock price ($128 as of this writing) already reflects this near flawless execution. Its hard to imagine that investor’s could see the stock double over the next year or so, much less increase by a factor of three or four times. It is this realization that made us do a little digging to see if there are any companies out there that have PCLN type potential, but have yet to be recognized by the investment community as such. This brings us to the stock we believe investors should consider - a company called YTB International (YTBLA.PK) (hereinafter "YTB").
YTB International is a rapidly growing company in the online travel space. While both PCLN and YTBLA operate in the online travel space, their core business models are so different that it makes most comparisons of their respective businesses less than meaningful - it would be like comparing apples with oranges. However, we see much commonality between the two companies from an investment standpoint - with PCLN as a model of the kind of stock price appreciation that could be achieved by a company in this space under the right circumstances. Simply put, we see potential for investors in YTB stock to earn the kind of return long term PCLN investors have enjoyed.
YTBLA is currently traded on the pink sheets and we have never recommended a stock that trades on the Pink Sheets before. However, YTBLA is current on all listing requirements, expects to be listed on the OTCBB within the next few weeks and we fully expect that the company will be listed on a national exchange before the end of this year. We have also never recommended a company with a multi level marketing model, though We have reviewed many of them over the years and can appreciate the wealth and value created by billion dollar companies like Avon (NYSE: AVN), Tupperware (NYSE: TUP), Herbalife (NYSE: HLF) and PrePaid Legal Services (NYSE: PPD). Despite these two factors, we are still recommending YTBLA because we believe they are poised to be a significant player in the online travel space and we further believe that investors in the stock at today’s prices could see Priceline type gains over the next few years and possibly sooner.
As mentioned previously, YTBLA’s business model is very different from PCLN and EXPE, each of whom operates a website that is designed to be a portal through which consumers book travel online. PCLN and EXPE spend millions of dollars in advertising each quarter to attract consumers to their websites in hopes that they will book travel thereby earning the company commissions or merchant revenues. YTB spends very little on advertising, relying instead on a network of "referral travel agents" (hereinafter "RTAs") to book travel through their own private labeled YTB website. These referral travel agents pay YTB a start up fee (around $499), then a monthly fee ($49) to host their online booking engines. The referral travel agents then earn a commission on each booking, a small percentage of which is retained by YTB. Thus, YTB earns revenue each time a new RTA signs up, then earns monthly hosting fees and commissions from each RTA.
Thus, even though both companies operate in the online travel space, the business models and revenue generation engines are quite different. The more important recognition here, we believe, is that from an investor’s standpoint, YTB is a company that is in a very similar position to where PCLN found themselves five years ago. At that time, PCLN had a flagging stock price and many questions surrounding its business model, despite the fact that it was making obvious strides in its quest to turn the corner to profitability.
This is similar to the storyline we are see today for YTB, where the company has dealt with several bumps in the road, most of which were related to either its ability to manage very high volume growth in a very short time or attempts by competitors to try and slow the company’s march forward.
It appears that these bumps in the road have been unable to stop or even slow YTB’s momentum. The company’s most recent annual report shows staggering gains in bookings, commissions earned, revenue and steady gains in the number of RTA’s who have signed up to participate. The company grew gross travel bookings more than 187% in 2007 over 2006 and saw the base of active RTA’s more than double. The company reported its third profitable quarter in a row, its first full year profit and it appears to have reached a point in its growth cycle where it has achieved the critical mass necessary to grow revenues significantly without a commensurate increase in expenses. We saw evidence in the recent 10K filing that indicated general and administrative expenses as a percentage of total revenue fell to only 26.1% in 2007 from 36.5% of revenue in 2006.
Another way we expect the company to grow margins is by earning higher percentage commissions. A very good indicator of this trend was reported in the recent 10K filing. The company reported an 84% gain in gross total bookings, which led to a 178% gain in gross total commissions received. As the company establishes itself as a high volume source of bookings for travel suppliers, the suppliers are willing to pay higher commissions and overrides. This accrues to the benefit of YTB as well as its RTA’s.
We see an opportunity for the company to further expand margins by building or buying its own wholesale business. By becoming the "merchant of record" for travel transactions, particularly lodging, YTB can expand on the traditional 10% commissions to instead earn effective rates in the 20 - 35% range. We note that it was a similar move into wholesale lodging reservations by Priceline in 2003 that allowed them to make the jump to profitability and that their acquisition of one of Europe’s largest lodging wholesalers that has been the catalyst for Priceline’s dramatic growth the last three years.
We believe further expansion of the company’s margins are possible as the company leverages the value of its network of 130,000+ active websites. The company’s cost to roll out additional product offerings through their RTA website channel is next to zero as is their risk. As such, we expect to see several new products offered through the RTA network in 2008, each of which could have a material impact on YTB’s financials.
In summary, we believe that YTB’s status as a pink sheets listed company that lacks Wall Street coverage or even main street attention has allowed the recent surge in its business to go unnoticed. The earnings acceleration and margin expansion simply have not been reflected in the stock price - as the stock has fallen more than 70% since the 2007 Q2 report of their first profitable quarter. With the stock currently hovering around the $1.65 per share range - we feel that the stock has the potential for exponential returns as investors become more aware of the YTB story and the company continues its domestic and international expansion. We believe the company is on the verge of a margin breakout that could propel the company to several periods of high double digit year over year earnings growth and that investors will ultimately accord YTB the kind of earnings multiple usually associated with such growth. As such, investors at today’s prices could be buying into the proverbial "ten bagger" or even better, enjoy returns like 2003 investors in the PCLN story, who earned 20x their money in less than five years. If YTB can sustain growth at the half the rate it grew in 2007, YTB investors at today’s prices could do even better than that.
By: John Gilliam
John Gilliam holds a BBA from Millsaps College and a JD from the Cumberland School of Law. He is the manager of Point Clear Strategic Holdings in Point Clear, Alabama. Point Clear Strategic Holdings is a value oriented activist investment group seeking opportunities in small cap technology companies.
Priceline (Nasdaq: PCLN) is the online travel industry’s best company, as judged by the valuation currently accorded its publicly traded shares. .. -->more-->Though Expedia (Nasdaq: EXPE) has a higher total market capitalization, Priceline shares trade at a multiple of trailing twelve months earnings that is nearly 50% higher than the same earnings multiple of Expedia. (PCLN ttm p/e = 36, EXPE ttm p/e = 23).
Thus, it would not be a stretch to say that PCLN is the darling of Wall Street when it comes to the online travel space and it is easy to see why. PCLN management has steered this company from bleeding red ink and the necessity of a reverse split five years ago to its place today as an international powerhouse in online travel. Shareholders who bought into PCLN when it first started making the turn towards profitability (about 5 years ago this month) have enjoyed 5 year gains of as much as 2000% (for those who purchased near the $6 lows in 2003).
Investors seeking gains of that kind in the online travel space will likely be disappointed if they invest in one of the big publicly traded players, including PCLN. Though PCLN management appears to be executing magnificently, the company’s stock price ($128 as of this writing) already reflects this near flawless execution. Its hard to imagine that investor’s could see the stock double over the next year or so, much less increase by a factor of three or four times. It is this realization that made us do a little digging to see if there are any companies out there that have PCLN type potential, but have yet to be recognized by the investment community as such. This brings us to the stock we believe investors should consider - a company called YTB International (YTBLA.PK) (hereinafter "YTB").
YTB International is a rapidly growing company in the online travel space. While both PCLN and YTBLA operate in the online travel space, their core business models are so different that it makes most comparisons of their respective businesses less than meaningful - it would be like comparing apples with oranges. However, we see much commonality between the two companies from an investment standpoint - with PCLN as a model of the kind of stock price appreciation that could be achieved by a company in this space under the right circumstances. Simply put, we see potential for investors in YTB stock to earn the kind of return long term PCLN investors have enjoyed.
YTBLA is currently traded on the pink sheets and we have never recommended a stock that trades on the Pink Sheets before. However, YTBLA is current on all listing requirements, expects to be listed on the OTCBB within the next few weeks and we fully expect that the company will be listed on a national exchange before the end of this year. We have also never recommended a company with a multi level marketing model, though We have reviewed many of them over the years and can appreciate the wealth and value created by billion dollar companies like Avon (NYSE: AVN), Tupperware (NYSE: TUP), Herbalife (NYSE: HLF) and PrePaid Legal Services (NYSE: PPD). Despite these two factors, we are still recommending YTBLA because we believe they are poised to be a significant player in the online travel space and we further believe that investors in the stock at today’s prices could see Priceline type gains over the next few years and possibly sooner.
As mentioned previously, YTBLA’s business model is very different from PCLN and EXPE, each of whom operates a website that is designed to be a portal through which consumers book travel online. PCLN and EXPE spend millions of dollars in advertising each quarter to attract consumers to their websites in hopes that they will book travel thereby earning the company commissions or merchant revenues. YTB spends very little on advertising, relying instead on a network of "referral travel agents" (hereinafter "RTAs") to book travel through their own private labeled YTB website. These referral travel agents pay YTB a start up fee (around $499), then a monthly fee ($49) to host their online booking engines. The referral travel agents then earn a commission on each booking, a small percentage of which is retained by YTB. Thus, YTB earns revenue each time a new RTA signs up, then earns monthly hosting fees and commissions from each RTA.
Thus, even though both companies operate in the online travel space, the business models and revenue generation engines are quite different. The more important recognition here, we believe, is that from an investor’s standpoint, YTB is a company that is in a very similar position to where PCLN found themselves five years ago. At that time, PCLN had a flagging stock price and many questions surrounding its business model, despite the fact that it was making obvious strides in its quest to turn the corner to profitability.
This is similar to the storyline we are see today for YTB, where the company has dealt with several bumps in the road, most of which were related to either its ability to manage very high volume growth in a very short time or attempts by competitors to try and slow the company’s march forward.
It appears that these bumps in the road have been unable to stop or even slow YTB’s momentum. The company’s most recent annual report shows staggering gains in bookings, commissions earned, revenue and steady gains in the number of RTA’s who have signed up to participate. The company grew gross travel bookings more than 187% in 2007 over 2006 and saw the base of active RTA’s more than double. The company reported its third profitable quarter in a row, its first full year profit and it appears to have reached a point in its growth cycle where it has achieved the critical mass necessary to grow revenues significantly without a commensurate increase in expenses. We saw evidence in the recent 10K filing that indicated general and administrative expenses as a percentage of total revenue fell to only 26.1% in 2007 from 36.5% of revenue in 2006.
Another way we expect the company to grow margins is by earning higher percentage commissions. A very good indicator of this trend was reported in the recent 10K filing. The company reported an 84% gain in gross total bookings, which led to a 178% gain in gross total commissions received. As the company establishes itself as a high volume source of bookings for travel suppliers, the suppliers are willing to pay higher commissions and overrides. This accrues to the benefit of YTB as well as its RTA’s.
We see an opportunity for the company to further expand margins by building or buying its own wholesale business. By becoming the "merchant of record" for travel transactions, particularly lodging, YTB can expand on the traditional 10% commissions to instead earn effective rates in the 20 - 35% range. We note that it was a similar move into wholesale lodging reservations by Priceline in 2003 that allowed them to make the jump to profitability and that their acquisition of one of Europe’s largest lodging wholesalers that has been the catalyst for Priceline’s dramatic growth the last three years.
We believe further expansion of the company’s margins are possible as the company leverages the value of its network of 130,000+ active websites. The company’s cost to roll out additional product offerings through their RTA website channel is next to zero as is their risk. As such, we expect to see several new products offered through the RTA network in 2008, each of which could have a material impact on YTB’s financials.
In summary, we believe that YTB’s status as a pink sheets listed company that lacks Wall Street coverage or even main street attention has allowed the recent surge in its business to go unnoticed. The earnings acceleration and margin expansion simply have not been reflected in the stock price - as the stock has fallen more than 70% since the 2007 Q2 report of their first profitable quarter. With the stock currently hovering around the $1.65 per share range - we feel that the stock has the potential for exponential returns as investors become more aware of the YTB story and the company continues its domestic and international expansion. We believe the company is on the verge of a margin breakout that could propel the company to several periods of high double digit year over year earnings growth and that investors will ultimately accord YTB the kind of earnings multiple usually associated with such growth. As such, investors at today’s prices could be buying into the proverbial "ten bagger" or even better, enjoy returns like 2003 investors in the PCLN story, who earned 20x their money in less than five years. If YTB can sustain growth at the half the rate it grew in 2007, YTB investors at today’s prices could do even better than that.
Friday, March 28, 2008
Is Network Marketing a Scam?
Is network marketing a scam? I am asked that question almost everyday. Most of the time it is linked back to the common pyramid scheme objection. This comment is often related to the companies that promise huge incomes with little effort. Success in anything you do will not be accomplished unless you work hard to achieve it. I heard someone say in a recent conference call that the main word in network is work. If you are looking for a get rich quick scheme, then this is not the industry for you.
One of the issues that comes up with new distributors is that they feel as though they are not making the large incomes that are made in the Multi Level Marketing (MLM) industry fast enough. When they don’t get these results, they blame the industry and quit. What they were not told was that you will have to learn the network marketing industry to be successful in it.
We started API Travel Group and have made it a point to train new recruits. A good network marketing company will have a system in place that can be easily duplicated. These systems keep each new representative from having to reinvent the wheel.
One of my favorite parts of the network marketing industry is the personal growth aspect that comes with being a successful person. If I were to quit my business today and walk away it would have been a success based on how I have grown on a personal level. API Travel Group and YTB Travel Network has helped our family because of the motivated, passionate, and truly helpful people we have met in this company. That is true for the most of the MLM industry.
So, is network marketing a scam? No. It is a growing industry that has great people within it. People that are willing to help others and people that have a drive to succeed. That is why we at API Travel Group want to teach others a system that cuts down on the learning time for our business partners and motivates them to become successful.
By Stephen Ipock
One of the issues that comes up with new distributors is that they feel as though they are not making the large incomes that are made in the Multi Level Marketing (MLM) industry fast enough. When they don’t get these results, they blame the industry and quit. What they were not told was that you will have to learn the network marketing industry to be successful in it.
We started API Travel Group and have made it a point to train new recruits. A good network marketing company will have a system in place that can be easily duplicated. These systems keep each new representative from having to reinvent the wheel.
One of my favorite parts of the network marketing industry is the personal growth aspect that comes with being a successful person. If I were to quit my business today and walk away it would have been a success based on how I have grown on a personal level. API Travel Group and YTB Travel Network has helped our family because of the motivated, passionate, and truly helpful people we have met in this company. That is true for the most of the MLM industry.
So, is network marketing a scam? No. It is a growing industry that has great people within it. People that are willing to help others and people that have a drive to succeed. That is why we at API Travel Group want to teach others a system that cuts down on the learning time for our business partners and motivates them to become successful.
By Stephen Ipock
Saturday, March 22, 2008
Qualifying Your Network Marketing Prospects
There are some simple questions you can use to help you qualify your network marketing prospect. Qualifying them should be essential before you even discuss your MLM business opportunity. One of the mistakes many new network marketers make when prospecting is trying to find ways to bring up their business opportunity to a stranger. Prospects pick up on this and feel as though it is a pitch and typically tune out what you are saying.
Trust needs to be established for you to be successful in marketing your business to strangers. To gain this trust you need to be genuinely concerned about the person. Show interest in them, learn about them, and listen to their likes and dislikes. Casually have the conversation and don’t make it seem like an interview.
How are you going to start a conversation that will find out if a person qualifies for your opportunity? You can do this by asking a few simple questions.
What do you do for a living?
What does that entail? (if they are vague in their answer)
How long have you been in this profession?
What did you do before?
When your prospect is answering these questions listen for statements like “it’s a job”, “it pays the bills”, or anything about unhappiness in their career, needing more time, or not meeting their ambitions. Some careers that may be good prospects are past disappointed network marketers, real estate agents, mortgage brokers, teachers, and any other industry that is struggling in this economic downfall.
The answers to these questions will determine if they have a need or qualify for your business. You may even decide that they are not the person you would like to be a partner with. If this is the case don’t mention your business. If they do qualify, tell them you may be able to help them with what ever their qualifying statement was. They will typically ask you how and that would be when you introduce them to your opportunity.
Remember that you are not in the convincing business and you should sort through your prospects to see if they have a need. Finding that need will qualify them for your business and reduce a lot of the rejection you get from leading with your business. These simple questions will make it easier for you to qualify your prospect and to learn more about them.
By Stephen Ipock of API Travel Group
Trust needs to be established for you to be successful in marketing your business to strangers. To gain this trust you need to be genuinely concerned about the person. Show interest in them, learn about them, and listen to their likes and dislikes. Casually have the conversation and don’t make it seem like an interview.
How are you going to start a conversation that will find out if a person qualifies for your opportunity? You can do this by asking a few simple questions.
What do you do for a living?
What does that entail? (if they are vague in their answer)
How long have you been in this profession?
What did you do before?
When your prospect is answering these questions listen for statements like “it’s a job”, “it pays the bills”, or anything about unhappiness in their career, needing more time, or not meeting their ambitions. Some careers that may be good prospects are past disappointed network marketers, real estate agents, mortgage brokers, teachers, and any other industry that is struggling in this economic downfall.
The answers to these questions will determine if they have a need or qualify for your business. You may even decide that they are not the person you would like to be a partner with. If this is the case don’t mention your business. If they do qualify, tell them you may be able to help them with what ever their qualifying statement was. They will typically ask you how and that would be when you introduce them to your opportunity.
Remember that you are not in the convincing business and you should sort through your prospects to see if they have a need. Finding that need will qualify them for your business and reduce a lot of the rejection you get from leading with your business. These simple questions will make it easier for you to qualify your prospect and to learn more about them.
By Stephen Ipock of API Travel Group
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