60: How I Chose My MLM...

What's going on guys? Hey, been just flying a million miles a minute, which is always standard, so everything is normal for me anyway. It's been a while since I've taken any of your questions and tossed them on here. I've got a question here from Steve Peck. Thank you much, Steve. First of all, great name. Second of all, I love the question, so I thought I'd drop it in right here. Steve Peck: Hey Steve. This is Steve Peck, and I have a question. How do you pick the MLM to get involved with? Thanks. Steve Larsen: First off, thank you so much, Steve. Appreciate the question. Second of all, if you guys have a question you guys want to drop on here, I love answering questions like this. I think it's a lot of fun. Hey, great, great question. First off, I just want to just come out and tell everyone, look, if you like your MLM, awesome. Please don't get discouraged or think that I'm trying to influence you to do something else. Please also note, I'm not trying to say this kind of stuff to try and recruit people into my own or whatever it is. Anyway, it's fun, I just recruited a really big player yesterday, which was a lot of fun. I want you to know what I look for and why I chose the MLM that I did. I'm still not going to tell you the one that I'm in. I tell people the MLM I'm in when they start applying to join my downline. You know what I mean? Anyway, so here's some things that I look at. First off, let's look at how other industries work. Now, what MLM should I join? First of all, let's ask the question, let's act like we're in a totally different industry. Let's say we're in a brick-and-mortar business, or a different kind of internet business, or whatever. The first thing that I would probably ask is, where is a hot market? Where is a hot market? Meaning, I'm not trying to come up with the idea of what to sell. I'm not trying to come up with an idea of, "Hey, let me go force all these people to try and buy my thing." What I'm doing is I'm looking to see where the hot rabid buyers, the irrational buyers, the buyers that are fanatics, the ones that go nuts and like, "Hey, yes, I've got to ... " Do you know what I mean? It's the irrational. I'm trying to find those places in the market. Then, when I know that there is one, all I do is I ask them what they want and I give them what they ask for. Now, that's a very different approach than what a lot of people do inside of MLM, but it's what I did for my MLM. I started look around, and there's some criteria of things that I was looking for, and I'll walk through that criteria here real quick. First off, what I do is, you've got to understand that most people go choose an MLM because of the product. Now, that's awesome. That's awesome, but first of all, I like to ask the question, "Who's going to be buying it? Are there a lot of them? Are they irrational about the thing that I'm selling?" If it's something that I have to walk around and convince a ton of people on, if it's something I have to walk around and there's a ton of education involved in the selling of the product, I tend to shy away from that kind of MLM. It doesn't matter really what the product is. What matters is that you are selling to rabid buyers. I would take that above any number of massive email marketing list. I would take that over anything, you guys, a rabid group of buyers, a hot, hot, hot market. So, for that reason ... I mean, honestly, I don't really care what the product is a lot of time. I care that it sells. I care that it sells, and I care that people are rabid over it, I mean, irrational. Not just that they like it, not just that when you show the product they're like, "Oh, that's cool," meaning they have to have it, they are going crazy for it, and they cannot stand to be without it. Do you know what I mean? That kind of fanaticism. What I do is I look around, and I look. I chose the MLM I chose for very specific reasons. I'm going to walk you through some of those reasons here, and I'll show you some of my criteria for choosing an MLM. Understand that it's just my own personal own, and yours might be a little bit different. That's fine. This is what I did though when I started looking for an MLM to join back in the day. I started looking around, and I was like, "Okay. First off, how would I treat this if I was not an MLM, if I was inside a big business that ... " Why am I asking that? Because that's my history, that's my past, that's where I came from. I came from a spot of selling other people's products online, and there are patterns to the top sellers. There are patterns to the top buyers. There are patterns all throughout. So, why would I not try to choose an MLM that comes nearest to those patterns and choose that one? Does that make sense? That's what I did, and that's the MLM that I joined. Here's some of the patterns that I looked for. Number one, the product has got to be somewhat high ticket. We're talking MLM here. This is very, very akin to affiliate marketing, meaning I go sell a product for somebody else and I get a little bit of a cut. Now, obviously you make more money if you own the entire product, but I love MLM because all of the fulfillment is done for me. There's a lot of things that are already done for me, that they take care of a lot of the business side of stuff. All I got to go do is to go sell the thing, and that's super easy. That's why I love the MLM game so much. Obviously the possibility of additional sources of revenue, passive income, all that, obviously those are all huge benefits to being an MLM, building up a big team, building up a big network, helping others have success. Those are all big benefits of being in it. The industry that is very, very close ... I don't know if I want to say closest, but in my mind, it kind of is, is the affiliate marketing, the internet affiliate marketing industry meaning they sell other people's products and they get a little bit of a cut. What I wanted to do is I wanted to choose something that was slightly more high ticket, meaning if I'm just selling a $20 thing, what do you get? In my MLM, the starting commission is 20%, which is awesome. That's the starting commission. It goes way higher from that. It's awesome. That's the reason I chose it is because the commissions were higher. If I'm getting paid peanuts, I have a huge issue with that. One of the other things that I chose as I chose an MLM where I was getting ... Let's say I sold a dollar worth of stuff, the full dollar is commissionable. I hate that game where they're like, "Well, only 60% of what you sell is commissionable volume." It's like, "Are you joking? I found you a customer. That's stupid." I chose an MLM that was dollar for dollar commissionable volume, which is huge by the way. That's amazing. Not many MLMs do that. I chose an MLM that does that. I chose an MLM that's a supplement. Why? Because it's recurring. People buy it over and over and over. They stay on it month after month after month after month, meaning it's not just a one and done thing. I might sell something for 120 bucks or whatever price, but they stay on it for at least probably five to seven months. All I've got to do is continue to educate them to help them understand why they should stay on longer than that. That's why they expect follow-up sales. They expect to be buying it frequently. They expect, they expect. I've given the analogy before, it's kind of like me going and buying milk and bread at the store. Those are no-duh buying experiences. You do not have to ... You don't see a salesman standing next to bread and eggs, you don't. Those are no-duh buying experiences. I wanted to choose an MLM that was a no-duh buying experience, like, "Oh, yeah. Obviously, I can see why I would spend money on this very easily." There's not a lot of sales copy that has to be written. There's not tons of sale ... Do you know what I mean? I chose an MLM that w...