Today, I want to provide a detailed review of Magnetic Sponsoring, a book that absolutely changed my life and business for the better. Writing this post was an absolute joy for me since this is my # 2 favorite business book of all time, right behind Michael Gerber’s book, “The E-Myth Revisited.”
To be clear, Magnetic Sponsoring is now a book you can buy on Amazon, a hard-cover book. It wasn’t always a book. When it started, sometime around 2007, it was an eBook and affiliate program that you could purchase online. It was promoted by giving away a seven-day video boot camp about attraction marketing. That boot camp was priceless.
You could buy the eBook for $39.95 and get a PDF version to print off, or read on your computer. It also came with a generous affiliate program that paid out 50% commissions. I first purchased Magnetic sponsoring in 2009 when I joined My Lead System Pro for the first time. I try to re-read the book every three months. Every time I re-read it I learn something new.
What I want to do in this post is tell you:
- What Magnetic Sponsoring Is All About
- Who Mike Dillard is
- Who the Book Will Benefit
- Why You Should Buy Magnetic Sponsoring
- Pros and Cons
- My Story
By the time you finish reading the post, you should have a better idea as to whether this book will benefit you or not.
I will tell you right up-front that I have read this book at least 50 times now. The book has changed my life and business for the better. I’m one of Mike’s biggest fans, even though we’ve never formally met.
What’s It All About?
Magnetic Sponsoring is a book about how to attract prospects to you and your business, rather than chasing and hard-selling people. Rather than being a hunter, he teaches you how to become the hunted. In other words, how to get prospects to seek YOU out.
In essence, it’s a book about marketing, specifically attraction marketing. He teaches his readers about why people buy and how to position yourself so they want to buy from you. He teaches about self-liquidating offers and funded proposals so you can essentially generate free leads for your business.
He talks about how to differentiate yourself in the market place, so you can stand out above the competition. In simple terms this book is about using attraction marketing on the internet to get more leads, more sales and more customers.
Who is Mike Dillard?
Mike Dillard is really a legend in the home business, internet marketing and network marketing industry. He is also the creator of several membership sites (Elevation Group and Self-Made Man). He’s authored many training programs in the network marketing industry, all of which I have enjoyed immensely. He went from waiting tables to becoming a millionaire in about 18-months. His story is very inspiring. Since achieving his goals in network marketing, he has moved on to bigger and better things, owning several multi-million dollar businesses and investing in real estate. He lives in Texas.
Who Will Benefit by Reading the Book?
This book will benefit ANYONE who owns any type of business and is looking for ways to get more leads and more customers. This is really a book about direct response marketing and attraction marketing, not just network marketing, and the principles Mike teaches really hold true and work in just about any industry.
I use the lessons I learned in his book with my blog, my coaching business, my network marketing business and information marketing business. The lessons have helped me grow ALL of my businesses.
It will help bloggers, affiliate marketers, internet marketers, network marketers, marketing directors, and any entrepreneur. Personally, I think it would even benefit someone trying to attract the opposite sex.
The Key Takeaways from Magnetic Sponsoring
The key things Mike talks about in his book are attraction marketing, self-liquidating offers and funded proposals. He also talks about the Law of Attraction and the “right way” to build your business. Without giving you all the juicy details, here is a VERY brief overview of some of the key concepts you will learn.
# 1 Attraction Marketing – This is the concept of creating a brand around yourself. It’s the process of selling by educating and positioning yourself as an expert in your prospect’s eyes.
# 2 Self-Liquidating Offers – These are offers that help you offset or eliminate your advertising costs so you can generate leads for free and keep building your email list.
# 3 Funded Proposal – This is the process of selling something inexpensive on the front-end of your advertising to help you eliminate or reduce your advertising costs, make an immediate profit, and essentially generate your leads for free.
# 4 The Law of Attraction – You will learn WHY people are attracted to others and you will also learn how to make yourself attractive to your prospects by being a person of value.
# 5 The Right Way to Build Your Business – He teaches a life changing concept known as You, Inc., which helps you focus on building a business with multiple streams of income while helping you avoid rejection and burnout.
# 6 Why People Buy – He helps get you inside the head of your prospects and teaches you why people buy and what you need to know so you can make more sales.
# 7 Two-Step Selling Process – He teaches the two-step selling process of giving away free information first, and then letting that free information do the selling, sorting and sifting for you.
These are just a few of the Golden Nuggets from the book.
Why You Should Buy Magnetic Sponsoring
You should buy Magnetic Sponsoring because you want to improve your skills and improve the bottom line in your business. You must invest in yourself to develop the right skill-set and mind-set so you can become successful in your industry. All successful professionals I know of invest in their business education on an ongoing basis.
Another reason you should purchase the book is so you can learn direct response MARKETING. Marketing really is the key to success in most businesses. No product sells itself. It’s the expert marketers who make the most amount of money online. It’s the marketers who make the cash registers ring in every business.
Without marketing, you won’t generate leads and you won’t get sales. If you want to learn direct response marketing and attraction marketing, this is the book for you! As an entrepreneur, your real JOB is marketing your product or service, not the product or service itself.
Pros and Cons
I figured I would take a moment to talk about the good things and bad things about the book, so I can be more objective.
- The book is short and to the point; you can read it in a couple hours
- Mike takes complex subjects and simplifies them so anyone can understand it
- The book is very easy to read; I enjoy his writing style
- Mike provides a blueprint for success with attraction marketing
- The information would benefit any business owner or marketer
- Just reading the information will not do anything to help you (you still have to apply what you learn)
I first joined the network marketing industry in 2002. I really sold out to my first company and did everything the old school way: friends, family and the three-foot rule. I achieved moderate success with that company.
After my first company I was in and out of the industry for the next seven years. I loved MLM, but always figured there was a better way to build my business than just bugging people I knew.
In 2009, I made the decision to rejoin the industry. However, this time around I wanted to build my business online. I wanted to leverage the internet and work smart. I wanted people to contact me first. I started out by joining My Lead System Pro and that’s how I learned about Magnetic Sponsoring.
After reading the book, about a year later I decided to start my own website. I create a huge website geared around network marketing. After a few years, I switched it over to this blog (2013).
Following Mike’s advice, I picked my target market: other network marketers. I positioned myself as an expert in network marketing and focused on training and educating people in my target market. I created tons of valuable, helpful content such as videos, blog posts and podcasts about network marketing.
Rather than trying to pitch my business opportunity to everyone and anyone, I used a two-step selling process and gave away free information. This helped me generate tons of fresh leads. That free information then sold my prospect on ME and the different things I promoted.
Because I positioned myself as an expert using attraction marketing, and focused on helping others solve their problems, people started to like me, know me, and trust me. Some of these people contacted me to join my business. Others just purchased different affiliate products I recommended.
Here is what has happened since then:
- I generate leads 24/7, 100% online
- I sponsor 8 to 20 people personally each month, most months
- I only talk to people who ask me to sponsor them
- I don’t chase anyone
- I have multiple streams of income, about 40 total
- I own a real business (my blog and email list)
- I’ve built several large email lists
- I make my full-time living from home
- I own my life
- My business grows every month in an automated, systematic way
- I actually have fun in my business
- I have a laptop lifestyle business I can take anywhere in the world
If I hadn’t found Magnetic Sponsoring, read it, and applied what I learned, I’m not sure where I would be today! Even better, I’m very excited about my future.
In summary, Magnetic Sponsoring is a great book for ANY person trying to build their business online or trying to learn more about direct response marketing or attraction marketing. Whether you are a network marketer, internet marketer, blogger, or traditional business owner, you can leverage the concepts you will learn in this book and apply it in your business. It’s a small investment at just $20, but the return on investment you can get is potentially unlimited (disclaimer: individual results will vary).
Purchasing Magnetic Sponsoring in 2009, and applying what I learned has really transformed my personal life, my network marketing business and my other businesses. Overall, I give it a 10 of 10 and consider it a must read for any entrepreneur or aspiring entrepreneur.
On a side note, if you’ve read Magnetic Sponsoring before, I would love to hear from you. Leave a comment below to share your experience, and tell others how it helped you. I look forward to hearing from you. Have a great day!