In today’s post I want to share some of my top Richard Poe quotes.
I recently read the book “The Wave 4 Way to Building Your Downline” by Richard Poe.
I really enjoyed the book. It was informative, well written and easy to read. It would definitely benefit any network marketer. What I enjoyed most about the book were the stories of successful distributors.
What I want to do in the paragraphs below is share some of my favorite quotes from the book. Each quote is in bold and italics. After each quote I will share my own thoughts on the quote. The quotes are listed in no particular order.
# 1 I would rather have one perfect of the efforts of one hundred people than a hundred percent of my own efforts. This is a quote from J. Paul Getty that Richard Poe shared in the book. This quote shows the power of leverage and network marketing. Most people trade hours for dollars and have no leverage. If they stop working, or lose their ability to work, they stop making money. Leverage is the key to financial freedom.
# 2 No matter how much linear income you receive, you must still report for duty and perform physical work…in exchange for every penny you make. Whether you own a traditional business or have a day job, you have no leverage. When you stop working you stop getting paid. This isn’t a big deal until you get hurt, want to take time off, or no longer can work. Even if you have a linear income, you should strive to build up some residual income.
# 3 The dropout rate is high among MLM recruits. Most people who join your team will quit. From personal experience, at least 80 to 90 percent of your team will quit each year. It’s just human nature to quit things. Most people who start college never graduate. Most marriages fail. Most people who buy a gym membership never even go to the gym once. Most sales jobs have high turnover. Be prepared for it and accept it. There’s very little you can do about it. The secret to success in your business is new people. Always be recruiting!
# 4 Those who made fortunes in MLM tended to be the super-salesmen, the gifted entrepreneurs, and the highly motivated, driven personalities. These are the folks you want to prospect and sign up on your team. Even if you don’t have these qualities yourself, look for others that have these qualities and get them on your team. It takes someone with an exceptional drive and work ethic to build up a big team.
# 5 Conventional marketers look upon word-of-mouth promotion as a result of good advertising, not a strategy for conveying it. Most businesses rely on advertising to get customers, and then they benefit from word of mouth advertising from their happy customers. MLM is designed around word of mouth advertising, so the money that would normally be spent on advertising and marketing can be paid to distributors via commissions.
# 6 He needed to win people’s trust and hold their attention long enough so he could tell his story. People like to do business with people they know, like and trust. Combine that with a good personal story and you can be a recruiting machine. Facts tell, but stories sell. Your goal is to appeal to people’s emotions.
# 7 MLM companies of the future will be more like Amway. Their main business will be selling everyone else’s mousetraps. This is a very interesting concept: an online shopping mall. I’m not sure how this will turn out or how profitable it will be for a company, but I like the idea of having a variety of products and services to offer customers and distributors. Of the top 10 biggest MLM Companies, they all have HUGE product lines.
# 8 I learned that the three most important things about leadership are support, support, support. You need to support your team and be accessible. Don’t do anything for someone that they could do for themselves, but when they ask for help, be there to help them!
# 9 Rather than slaving away for a salary, men and women of the twenty-first century will work for themselves, earning an income commensurate with their efforts. While many people crave job security, good benefits and a steady paycheck, many other people like commissioned based pay. If you are a producer, you want commission based pay! With a salary, you are capped, regardless of how well you perform. When you work on commission, the sky is the limit.
# 10 You don’t own a business; you own a job. What’s more, it’s the worst job in the world. Unlike your corporate job, this one doesn’t give you time off for vacations. It consumes you, seven days a week, twenty-four hours a day. This is a quote by Michael Gerber that they shared in the book. It’s true. Most business owners have a high stress, high demanding, and low paying job. Their business owns them and they are a slave to their business. What’s great about network marketing is that you can keep your day job while you build your business part-time and avoid all of the headaches of owning a traditional business.
# 11 The fact is that most people would rather be a franchisee than a Ray Kroc. People love the idea of buying a business that has already been created and has systems in place. Few people want to build a business of their own from the ground up. I can’t blame them!
# 12 Indecision can kill a distributor force. Be a leader. Lead your team. Provide purpose and direction for them. Be the rock for others to lean on.
# 13 Distributors can come and go, but the core of your business is the leadership. The true measure of how good your team is depends upon the number of leaders in your group. This is the number of people who are being proactive, showing plans of their own, sponsoring new people each month, retailing products, and don’t need your help very much. The more leaders you have on your team the more money you make! PERIOD.
# 14 To succeed, an MLM company must have a salable product or service. It must be competitively priced, and ideally, it should be hard to obtain from non-MLM sources. Look for a great company with great products that you are passionate about and provide VALUE, even to people not doing the business. Try to find a product line that isn’t for sale on websites such as Amazon® and eBay®.
# 15 Joining start-ups is a bit of a crap-shoot. Work with an established, proven network marketing company. Avoid start-ups at all costs. Try to find a company that is between two and ten years old and most people haven’t heard of it yet.
# 16 Your story is the most powerful recruiting tool you have. Your personal story with the products and business should be what you share with everyone. Stories sell! Everyone loves a good story.
# 17 It was easy to sign people up, but hard to motivate them into building a downline. Your job is to sponsor self-motivated people. You can’t drag anyone across the finish line. Most people you sponsor, at least 80 percent, will do absolutely NOTHING with the business. Most of your income will come from one to five people, even if you’ve sponsored hundreds.
# 18 Instead of trying to motivate her downline to do better, Kalyn realized, she should be going out and prospecting people who were already motivated, people with a track record of success in network marketing. You can only lead a horse to water, but you can’t make them drink. If your team isn’t producing, get a new team! All the time you spend trying to help and motivate weak people is time wasted.
# 19 People today shop for sponsors as carefully as they shop for companies. Realize that people join people. Just because you have a great company or product is not enough. You must be a person of VALUE. People must truly believe that you can help them reach their goals, or they will never join YOU! People join people, not companies.
# 20 Twenty percent of the people do 80 percent of the work. Never forget the 20/80 rule. Make sure that you spend 80 percent of your time with your top 20 percent producers.
# 21 If your business is to succeed, you must recruit leaders. Leaders will build your business. They won’t need you to hand hold them or motivate them. Distributors come and go, but a good leader is worth their weight in gold.
# 22 A heavy hitter from another company is a prize worth waiting for. Build strategic relationships and friendships with other successful network marketers in different companies. Show them you are a good person and leader. Stay in touch. You never know when they will leave their company or switch to another company. One good leader really could change your life in a good way!
# 23 Network marketing’s key advantage – its face-to-face, belly-to-belly methodology. Don’t be 100% dependent on the internet. It’s a relationship business and built best face-to-face. You can use the internet to meet people, but you still want to pick up the phone or SKYPE and connect with them.
# 24 The only glue that will hold together a network for very long is friendship, loyalty, and relationship. This is a relationship business. If you want a long-term business, you need to get good at building relationships with people on your team. It’s hard to quit on a friend. When your team members become close friends, you won’t have to worry about them switching companies or dropping out.
# 25 Turnkey systems cannot replace elbow grease. Systems are great, but people still need to do the work. Nothing replaces hard work. Any system will work if you work it continuously. Any system will fail if you do nothing.
# 26 Most salespeople want to make their sale on the first stop, but most buyers don’t buy until the fifth stop. This might be the most important lesson in the entire book. Just because someone says NO today doesn’t mean it is a no forever. Keep in touch with everyone you meet every few months. Be a professional. Your best distributors five years from now will tell you NO five or ten times BEFORE they ever join your team. The money is in the follow-up.
# 27 Accomplished networkers are masters of “sifting and sorting”. Learn how to sift and sort through your prospects. It’s not your job to sell, pressure or convince anyone. Work the numbers and work with the willing. Trust me, there are people out there who are looking for what you have to offer.
# 28 I never talk business, we talk product. Lead with the products. If the products don’t make sense, neither will the business.
# 29 If a customer asks for a discount… that’s a good time to explain our program. When you are sharing your products or services with others, and someone wants to save money on the products or services, show them the savings they would get as a distributor and get them to enroll as a wholesale distributor.
# 30 People like the idea of getting their products for free. One smart business move is to help each person you sponsor refer enough customers and distributors so they get their products for free each month. If you can do that you will have higher retention in your group.
# 31 I absolutely do not spend time with people who waste my time… I ask them for three things before I’m willing to commit my time to them: a twenty-four-month time commitment, a written mission and vision statement, and a business plan. Lots of people will waste your time. If you want to work smart, you need to sponsor quality people and you need to work with people who are serious. This will be no more than five to ten percent of your total team, if that. To find out if someone is serious, give them a few assignments when they first join and see if they do them.
# 32 The more tools and systems we put in place the less important the leaders become to the day-to-day activities. Smart network marketing leaders leverage tools and systems to free up their time. The last thing you want in your organization is to have everyone be dependent on you.
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About Richard Poe
About the Book
This book was published by Heraklid Publishing in November 2012. It features 240 pages. The ISBN is 978-0988490239. It comes in softcover and kindle format. As of November 2016, it has 80 reviews on Amazon with an average 4.5-star rating. It is available anywhere books are sold.
In summary, these are my favorite Richard Poe quotes from his book “The Wave 4 Way to Building Your Downline.” I thought this book was a good read and I definitely recommend it to others. Overall, I give it 8 of 10 stars. If you haven’t read it yet, you should.
What was your favorite quote listed above? What did you like or dislike about the book? Leave a comment below to share your thoughts. I look forward to hearing from you.