In today’s post, I’m going to do a book review of How to Build a Multi-Level Money Machine by Randy Gage.
I’m a huge fan of Randy Gage. In fact, he is one of my favorite mentors in the network marketing industry. He’s a guy who has been there and done that and earned millions in our industry. He is a respected trainer, consultant, speaker, coach, author, and network marketing distributor. He’s also a pretty cool dude!
I recently read one of his books How to Build a Multi-Level Money Machine. I really enjoyed the book and overall I give it an 8 of 10.
How to Build a Multi-Level Money Machine: Randy Gage Quotes
What I want to do in today’s post is share some of my favorite Randy Gage quotes from the book. Each quote is in bold and italics. At the end of each quote I will also provide my own two cents on the topic. The quotes are listed in no particular order. Enjoy.
# 1: As long as you play the “trading time for money” game – you can never reach true financial security.
If you are busy trading hours for dollars, you will either max out or burn out. There are only so many hours in a day and if you stop working, or lose your ability to work, you stop getting paid.
# 2: You must become the creator of your own destiny.
We are all responsible for our own success or failure in life. Ultimately, we are the captain of our own battleship.
# 3: Owning a traditional business can be more limiting than working for somebody!
Owning a traditional business is normally a nightmare that requires large start-up capital, employee headaches, and LONG hours.
# 4: A sales type is able to go out and retail a lot of product, but oftentimes he is not able to teach and train others.
The beauty of our industry is the duplication and leverage. It’s about a lot of people doing a little bit, not one person doing a lot. What you want is thousands of people on your team each using the products, servicing a few customers and teaching others to do the same.
# 5: Your goal is to find an organization with a complete, duplicatable system to follow.
You need a system that is simple, straightforward and easy for anyone to follow. The system is the solution.
# 6: A system should completely delineate and spell out the entire process that a distributor will follow: from where to find prospects, to how to approach them, to how to sponsor them. To how to train them to reach the higher pin ranks.
Most new reps crave direction. Your system must tell them what to do next and ideally how to do it.
# 7: The reason a system is so important for you is that it ensures walkaway residual income. When you have a system in place – you no longer become essential to the process.
A good system replaces you. On the other hand, if your business solely relies on you, this business is a nightmare.
# 8: How you bring in your people is how they will bring in their people.
Whatever you do duplicates. Make sure that you have a simple way to sponsor and teach your new people.
# 9: When you build with a system, once you secure a line, you can walk away and it will continue to grow.
The only way to have walk away income in your business is if you have a system and leaders in place.
# 10: Your dreams must be stronger than your fears! Motivation, positive thinking and hype will only last so long.
If you don’t know your why the how does not matter. This business is like dating. In the beginning, it is fueled by lust and excitement. However, that never lasts. To succeed, you need to be committed and take the long-term view.
# 11: When your dream is big enough, you will mold the universe to your will.
You need to have a big dream and a big why. This is what will help keep you motivated during tough times and keep you in the game until you eventually succeed.
# 12: Success does not come overnight.
Good things take time. Rome wasn’t built in a day. Most businesses take one or two YEARS to get profitable and five plus YEARS to become stable.
# 13: Consider your first six months a learning experience.
When you first get started in the business, you are going back to school. I call it MLM School. This is where you will learn the ropes, so you can one day be successful. You can earn while you learn, but you will never make the big money until you master your skills.
# 14: If your company has a product, you would never buy a competing product for any reason…ever!
Be your own best customer. Be loyal to your own products. This should be common sense.
# 15: Present the whole program – business and products – and let the prospect decide.
Talk to all of your prospects about the products and business opportunity so they can decide for themselves what option is best for them. You never really know who will be interested in what.
# 16: Functions are the glue that holds your business together.
Get people to attend events whenever possible. Promote all events and attend every event yourself. Events will create massive growth in your business.
# 17: Your business will grow only as fast as you grow.
For your business to grow you must grow. This business is a personal development program with a compensation plan attached to it.
# 18: “Lone rangers” can be successful initially – but will not enjoy long-term success.
Plug in to your successful upline and don’t be a lone wolf. This is a team sport.
# 19: One of the biggest mistakes people make in this business is thinking that sponsoring is a one-shot, all-or-nothing event.
Most people will take multiple contacts and follow-ups before you sponsor them into the business. Many of your best distributors will take you months, even years to recruit. Your real job as a sponsor begins AFTER you have sponsored someone.
# 20: In Network Marketing we are looking for people motivated enough to take action themselves.
You can’t motivate someone permanently. Motivation comes from within. Your job is to find self-motivated people and help them succeed.
# 21: We want to turn the distributors into leaders.
Your job is to create an environment where you can teach your distributors how to become leaders and take responsibility for their own business.
# 22: Your goal is to develop a customer for life.
Customers are important in every business. Treat your customers like gold. Every distributor should have five to ten retail customers, and teach their team members to do the same thing.
# 23: Every time the prospect sees the presentation – it should be a bigger “event” than the last one.
Have a sponsoring process for your prospects. Walk them through a series of steps so they can make an educated decision about the business.
# 24: When a couple views a presentation and makes a decision together…it’s one they’ll stick with.
If your prospect is married or has a significant other, make sure you share the business presentation with both of them at once.
# 25: What you have to sell is freedom.
Focus on talking about time freedom and residual income. That is something most of your prospects will be interested in.
# 26: The expert is the guy from out of town.
It’s hard to be a prophet in your own land. The people who know you best are the ones who are typically most critical of you. Don’t be upset if your team doesn’t listen to you. My team doesn’t listen to me either.
# 27: Your warm market is your best market.
This business is best build through each person’s warm market. By working your warm market, you will learn the ropes and experience some initial success before going into the cold market.
# 28: Why don’t I take out ads in magazines and do mail-outs? And the answer is – because they work, but they don’t duplicate. The farther you get from the warm market, the more unduplicatable you become.
Keep the business simple at all times. Make sure everything you do passes the eight year old test.
# 29: Because distributors are randomly placed under a sponsor – they have no respect for their sponsor’s skills, and thus don’t edify them.
Keep everyone you personally sponsor on your first level in your organization. Help your people build depth, but don’t place your personally sponsored people under them.
# 30: The reason that most people fail in networking is that they fail to identify and work with leaders.
Leaders will produce most of your volume and most of your income. Distributors come and go like the common cold, but leaders are the measuring stick for your long-term success in the industry.
# 31: To succeed in networking, you must identify and work with your leaders, regardless of what level they are on. This is the only true method to secure lines.
Work with the people who deserve your time, not with the people who need your time.
# 32: You must secure then build – secure then build.
As you sponsor people you want to secure them by building tap-root legs in depth. This anchors people into the business because they have something to lose. Keep repeating that process over and over in depth and never stop.
# 33: The only true barometer of a line’s strength is the number of leaders in it who are following the system.
Volume comes and goes. Reps come and go. But leaders determine the stability of a team. Become a leader and find and develop leaders.
# 34: If you sponsor six people, two will do it now; two will do it later; and two will do it never.
This business is a numbers game. Work the numbers and everything else will work itself out.
# 35: Build a lot of width along with building the depth.
Go wide and go deep. Do both and never stop.
# 36: Your number one obligation in the business is to become successful yourself.
You owe it to yourself and your team to become successful so you can show them what is possible and be rewarded for your time.
# 37: You cannot show anyone how to attain a pin-rank until you attain that pin-rank yourself.
You can’t teach something you haven’t done yourself.
# 38: Your job is to work yourself out of a job.
You want to replace yourself as quickly as possible. You want to train your people as quickly as possible so they are independent of you and know how to build a business of their own.
# 39: The secret is keeping people in the system for two years.
Keep your people plugged into the system until they have enough belief in themselves (and the business) to make the decision to get started and commit. Some people will need to incubate for a while.
# 40: Because most people no longer believe in their dreams, they insult, ridicule and beat down anyone who still does.
Dream stealers are everywhere. Most people who have given up on themselves will try to bring you down to their level.
# 41: The prime time for the business is evenings from 7:00 to 10:00 pm.
Most of your prospects and most of the people in your team have a day job. These folks will work their business in the evenings, or be available for a conversation in the evenings. Make sure you build your business at night, when people are available.
# 42: My experience is that once you have 35 to 50 core leaders in a line – that line is absolutely one hundred percent secure for life.
Build two or three good legs with 35 to 50 leaders in each line and you will have a huge team.
# 43: Your local lines should be your primary sources of income.
Start locally and let your business expand from there naturally.
# 44: Your long distance lines are your strongest ones.
When you sponsor people who live far away from you, they are forced to take ownership of their own business, and do things that your local people would normally have you do for them. Your best lines will be your long distance lines.
# 45: I believe every person in the world has the ability to create a massive Network Marketing organization. Yet, I also believe that most people never will.
The opportunity is there for anyone to take, but few people have the desire, work ethic and commitment to make it work.
# 46: Every leader I spoke with had a different way of doing business. Some held meetings; some built by mail; others only did one-on-ones; and yet some concentrated mostly on retail.
We all have different natural talents and abilities. Successful distributors leverage their own talents and abilities to build the business in a way that works for them.
# 47: Listening and being coachable are the first steps to success in this business.
Humble yourself and follow your sponsor’s lead, especially if they know what they are doing.
# 48: Your company, and even the industry, are not the opportunity. You are.
Your success is totally up to you. You can succeed or fail in any company. Also, people join people, not businesses.
# 49: Most people will benefit from the products; some will benefit from the personal growth; and the serious ones will become wealthy.
Figure out what the other person wants and show them how to get it. Everyone has different desires, dreams and goals. Most people do not want to make the big bucks. Focus on helping people get what they want. That is the fastest way to get what you want.
# 50: The only obstacles that can stop you are the ones you see in the mirror every morning.
You can be your own greatest asset or your own worst enemy.
# 51: Invest in a commitment. Commitment is what will keep you going.
No one is motivated every day. But if you stay committed and stay the course you will eventually succeed. In other words, commitment is more important than motivation.
# 52: Don’t ever use your kids as an excuse not to do the business.
If anything, your kids should be your reason WHY you build your business.
# 53: If you don’t invest in you – who will?
Invest in your personal growth. Set big goals and get a little bit better every single day.
# 54: Network Marketing works on the principle of delayed gratification.
It takes time to build a profitable business of any kind. If you need immediate income, get a job. This is a business. You are building an asset. You might work two to five years, part-time, before your MLM Income replaces your job income. Good things take time. Be patient, stay focused and take the long-term view.
# 55: Set the example for your group.
Lead by example at all times. People will do what you do, not what you tell them to do.
About the Book
How to Build a Multi-Level Money Machine is now in its 4th edition. The 4th edition was published on June 1, 2009. It is published by Prime Concepts Group. The book has 300-pages. The ISBN is 978-0967316444. It sells for $17 on Amazon. As of May 4, 2015 the book has six reviews on Amazon with an average 4.7 star rating. The review I did on this page was for a previous edition.
In summary, How to Build a Multi-Level Money Machine by Randy Gage is a great book. It’s loaded with great tips and nuggets by a guy who has been there and done that. It’s well written, easy to read and would be a great addition to your personal library. If you haven’t read it yet, you should.
What are thoughts? What is your favorite Randy Gage quote on this page? What did you think about the book? Leave a comment below to let me know what you think. I look forward to hearing from you.