Magnetic Sponsoring by Mike Dillard: My Review

Magnetic Sponsoring changed my business. It changed my life. I would consider it a life-changing book if you read it and implement what you learn.

Prior to reading this book, I knew nothing about online marketing. I was busy building my network marketing business the old school way, face-to-face, prospecting people at the shopping mall, talking to prospects at gas stations, and using the three-foot rule.

I was miserable doing that, but I knew of no other way to build my business. My upline taught me to prospect strangers and reach out to people I knew, so that is what I did.

After years of frustration, I realized there must be a better way. I knew some people were successfully building their MLM Business Online, and I wanted to learn how to do that myself. In July 2009, I stumbled across an ad for Magnetic Sponsoring. I clicked on the link, signed up for the free 7-day training, bought the eBook, and the rest is history.

Once I read this book, my eyes were opened to the possibilities of building my network marketing business online. I was fascinated by the concepts he taught in the book. Even though it was just 77 pages, it offered enormous value. It was well worth the $39.95 I spent.

I read it cover to cover several times and then implemented what I learned. My business has not been the same since. Now, some 14+ years later, the concepts I learned in Magnetic Sponsoring are still relevant.

 

magnetic sponsoring book review

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. Mike Dillard 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 a legend in the home business, internet marketing, and network marketing industry. Many top reps had him as their mentor. He is also the creator of several membership sites (Elevation Group and Self-Made Man). He’s authored numerous 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 proven ways to get more leads and more customers. This is a book about direct response marketing and attraction marketing, not just network marketing, and the principles Mike teaches hold true and work in any industry.

I used 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 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 a boyfriend or girlfriend.

Key Takeaways from Magnetic Sponsoring

Here are some of my biggest takeaways from Magnetic Sponsoring.

Two-Step Selling Process

Whenever you want to sell something, use a two-step selling process. In other words, give away free information and then let that free information sell whatever it is you are trying to sell. For example, if you sell weight loss products, promote or advertise a FREE REPORT or FREE EBOOK titled “The Top 10 Weight Loss Myths” (or something similar) and at the end of your report, have it introduce your prospects to your company and product line.

People love free information. It’s easier to give away free information than sell products, so focus on that. To put it in perspective, if 100 people see an ad about your product, you might get one customer. But if 100 people see your ad for free information, you might get 20 to 30 people to request more information. From that, you could easily get 5-10 customers.

People Join People, Not Businesses

This might sound weird to some people reading this, but your prospect evaluates their potential sponsor more than they do the company or product line. Why? Because your prospect wants to know that you are serious, you know what you are doing, and you can help them. They must see you as a person of value, someone who is a solution to their problems. They must know, like, and trust you.

Belief Comes Before Results

You must become a Diamond in your mind before it happens in real life. The attitude comes BEFORE the paycheck. You must believe in your company, its products, the industry, and yourself. How do you become confident? Start out by partnering up with a successful mentor. Learn everything you can from them.

In addition, read books and focus on your personal development. Improve your skills. Get in the trenches and get to work. As you grow, your business will grow. As your confidence grows, more prospects will be attracted to you as a potential sponsor.

Your Real Business is Marketing

Do not make the mistake of thinking your opportunity or products are your business. They are not. Instead, marketing and selling your products, services, or opportunity is your real business. Spend your time, money, and energy on SELLING and MARKETING. You can literally have the best product in the world, but you don’t know how to sell it, you will fail. Instead of falling in love with a product, fall in love with the “sales process” you will use to sell it.

Master Your Emotions

The only way to succeed in this business is to be unemotional. If you are emotional, and your attitude and mindset are dictated by what others say and do, you will struggle. You don’t want to be an emotional roller coaster with big ups and bigger downs. Be the lighthouse, not the weathervane. Be calm, cool, and collected. Focus on what you can control and nothing else.

The 3 Types of People in the World

There are three types of people in the world: Alphas, Betas, and pre-Alphas. An Alpha is someone with confidence. They lead big organizations. People like, know, trust, and respect them. All successful network marketers are alphas. The good news is most of them did not start out that way. Confidence is a choice. Becoming an alpha is a choice. Being an alpha does not mean you are egotistical or aggressive. It just means you believe in yourself and what you are doing.

Know Your Target Market

Every business has a target market. Network marketing is no different. Focus 100% of your time, money, and energy on recruiting people in your target market. This is the sniper approach rather than the shotgun approach.

For your network marketing business, your target market is people with network marketing experience. They already believe in the industry. They have some basic, fundamental training. They have network marketing friends.

For your products, it’s people already buying a similar product who have the money to do buy from you! You can’t sell steak to a vegetarian so stop trying.

Position Yourself as an Expert

If you want to become an Alpha, a leader, a successful MLM Rep, you must position yourself as an expert. People want to work with the Alphas, the best of the best. People want to do business with people are confident, successful, experts, and likeable. Position yourself that way and you will start attracting quality prospects.

Pain vs. Pleasure

People make decisions for one of two reasons, either to avoid pain or gain pleasure. “PAIN” is a greater motivator for most people. In other words, people do more to avoid pain than seek pleasure. When you talk with your prospects, focus on what they lose by not buying from you or taking action today. Yes, tell them what they have to gain, but make more of your presentation about what they miss out by not getting started today.

Why People Buy

People buy a drill because they want a hole, not because they want a drill. If you want to sell more drills, advertise free information about how to make a hole, not an ad about your drills. Focus on the BENEFITS of what you are selling. Show people how your business or products help them solve a problem.

SLO/Funded Proposals

Also known as self-liquidating offers and funded proposals, this is when you advertise a low-cost product on the front end. This puts immediate money in your pocket and helps eliminate or offset your advertising costs, while you build your list. You then “backend” people into your business opportunity. This is what most top reps do.

I learned many additional valuable lessons in Magnetic Sponsoring, by I don’t want to spill all the beans and share everything I learned. Order a copy and learn for yourself!

You Must Have a System

The system is the solution in your business. You must have a system to generate leads and help offset advertising costs. You must have a system you can use with your team that helps them become profitable and helps them get leads. Without a system, you won’t achieve long-term MLM success.

magnetic sponsoring

Order the Book

Initially an eBook, now Magnetic Sponsoring is a physical book you can buy online. You can order a copy on Amazon right here.

Suggested Video

 

Conclusion

In conclusion, Magnetic Sponsoring is a masterpiece for any network marketer looking to build their business online. It is simple, easy to read, and packed full of helpful information. You will learn everything from why people buy, to attraction marketing, self-liquidating offers, and funded proposals. If you study the book and implement what you learn, there is no doubt in my mind you will level up in your business.

What are your thoughts? Have you read Magnetic Sponsoring before? If so, how did it help you? Leave a comment below to let me know what you think. I look forward to hearing from you. Thanks.

Suggested Reading
  1. Attraction Marketing Ideas
  2. How to Build Your MLM Business Online
  3. 34 Ways to Get MLM Leads
  4. My System for Building My MLM Business
  5. Attraction Marketing Formula
chuck holmes






Sincerely,

Chuck Holmes
Network Marketing Professional (since 2002)
Author, Blogger, & Entrepreneur

P.S. Level up your life today! FREE resources to help you improve your health, finances, business, and relationships. I'll even give you FREE leads and a free business plan template. Learn more.

11 thoughts on “Magnetic Sponsoring by Mike Dillard: My Review”

  1. “You, Inc.” is a really appealing concept, and I think it’s essential for any successful person in any business to first and foremost establish themselves as a person of value; an expert with something unique to share. Once you’ve done that, people in your niche will be attracted to you, they will seek out your expertise. When I first started reading this post, I wasn’t sure what “magnetic sponsoring” meant, but now it’s plain to see that YOU, the network marketer, are the magnet, and the strength of your magnetism is dependent on how you build yourself into a valued expert.

  2. I appreciate that Mike Dillard has made his videos available to view before purchasing Magnetic Sponsoring so you can get a feel for his style and approach. It sounds like Magnetic Sponsoring is a great tool for any marketer’s toolbox even if they aren’t active in MLM. It sounds like the book made quite an impact on the way your approach business!

  3. Yet another grew review and another wonderful blog full of useful and practical information for all MLM businesses! Thank you for sharing your knowledge and experience with all of us here. Magnetic Sponsoring is a new concept to me so thank you for this introduction.

  4. Let me just say that I will be purchasing this book. I am always looking for resources that will help me learn and grown and your review proves the Mike Dillard is a person I want to learn from. I love that you shared how this book personally helped you to accomplish your goals so we can see some real life application.

  5. This is a great book review. Like you, I just knew that there had to be “a better way to build my business than just asking them people I already knew. But where to meet those new people? I have learned a lot about internet marketing from your blog, as well as ways to self-motivate and where/how to best spend my time working. I will need to look into this book.

  6. I regularly follow your blog and love the way you share your experiences. They are such a significant source of inspiration and motivate newbies like me. This comprehensive review of Magnetic Sponsoring that you have presented here highlights some really important aspects for success in network marketing.

    Following your recommendation, I am thinking of getting this training course for myself to learn more characteristics of growth in business.

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