7 Signs of a Decaying Financial Portfolio Management System

One of the biggest threats that most Portfolio Managers face is the prevalence of legacy systems.Over the past three decades, investment advisors have been empowered by the advent of technology from simple spreadsheets to complex home-grown systems. From that time to the present, the industry has seen exponential growth and with it, enormous complexity. Challenges include round-the-clock trading in markets from New York to Sydney, varying accounting standards, shortened settlement cycles, and of course, increased regulation and security issues to name a few. As if that were not enough, technology seems to change every day leaving many legacy systems struggling to keep up with customer demands. Cheaper, faster, smarter, and more efficient norms are expected – they cannot be the exception. Failing systems can sharply undermine your company’s ability to service its customers and maintain its market share, much less grow the business.In this age of big data, business intelligence, and data analytics, legacy systems can represent a massive risk to your business. If day-to-day operations require the ability to manage process, distribute, and accurately report financial data, being behind the curve is not an option. If this sounds familiar, it is time to ask, “How did we get here?” and more importantly “How do we get out?”Here are the seven signs that will tell you if you have a decaying system and how it must ideally operate:1. Facing difficulties while managing data due to disparate systems?Maintaining data in different systems or manually moving move data from one system to another will lead to inconsistency and errors. Is your data quickly identifiable, consistent across multiple systems, complete, accurate, and reconciled among different systems? If your answer is a NO to these questions, you must reevaluate your platform. Your system must be able to eliminate manual data flow, update all the data with a single change, deliver timely and accurate reporting including intra-day, and make data easily traceable.2. Are your client communications professional?Investors expect your reporting to be clear, concise, and highly customized to their needs. This statement holds especially true for institutional investors. Organizations that can meet these expectations will have an immense competitive advantage over those that cannot. If your current system does not deliver the level of reporting your clients expect, you will run the risk of falling behind.Your client expectations are not limited to the form and content of reporting, but also to how you deliver information. They expect instant access to real-time information, be it through a web portal or a mobile platform to stay relevant and highly competitive, your systems must be flexible enough to send and receive communications via any channel of your client’s choosing.3. Struggling to cope with complex global investments?Dealing with multiple regional and global investment regulations such as UCITS V and VI, Solvency II, AIFMD, and EMIR is a daunting task. All these regulations require you to maintain reliable, accurate, and transparent data. To comply with these regulations, you need Workflow Management, Data Management, and accurate reporting. Data, managing risk, and maintaining accuracy is critical to comply with regulatory reporting requirements.With the increase in data sources and data complexities, your organizations need solution providers who can help you manage your data. Your system must not only be scalable but also provide actionable business intelligence in a format that is easily understood.4. Finding it hard to achieve Integration of disparate systems?Real integration is not a matter of simply connecting systems – your systems must be able to talk to each other seamlessly. Manually moving data from one system to another affects your efficiency, thereby, increasing the risk of errors. Integrating disparate systems not only reduces these risks but also improves efficiency by ensuring that back office and front office personnel can view transactions, cash positions, and holdings identically. This ensures that the entries are recorded accurately in your Investment Book of Records (IBOR).Many organizations use multiple systems for accounting, reporting, reconciliation and managing client information. If different vendors have provided these systems, making them talk to each other could be a challenging process. If you have workarounds or portfolios that reside outside of your legacy system, it is time to rethink its usability. Your system must allow centralized and standardized portfolio management activity. In an end-to-end portfolio management solution that is built on open architecture, the work of multiple systems is consolidated into a single platform. Such a solution will allow easy access to third-party systems or any other system that is built in-house, thereby enabling you to reduce technology footprint while driving greater efficiency.5. Escalating legal and compliance costs?A 2013 survey of Chief Technology Officers suggests that one of the biggest operations and technology challenges that asset managers face is to comply with the current and future regulatory requirements. The complex regulations make outdated reporting systems more of a liability than an asset. The compliance costs of regulations such as AIFMD, UCITS V, and VI, or FATCA-are overtaking many budgets. Additionally, aggregating data from different systems for compliance reporting is a risky and resource-consuming process. To reduce these risks and costs simultaneously, your system must be prepared to deliver consolidated reporting, by leveraging automation, integration, and standardization of data from various sources. Your systems must also eliminate the manual compilation of data for reporting, thereby increasing efficiency and cutting associated compliance labor costs while ensuring integrity, consistency, and reducing your operating risk.6. Being scrutinized by Investors’ due diligence?After surviving the global economic crisis of 2008, institutional investors have become extremely wary of due diligence, leading to immense scrutiny of operations. The 2008 crisis exposed operational risks – the risk of failure that not only involved market forces but also the lack of infrastructure and controls. Investors have also become increasingly tech-savvy; they are asking the right questions and know what to find. To remain competitive in this vital market, your system must stand up to the intense investor scrutiny. You must show that you have the controls in place to manage the risks efficiently and that you are already adhering to well-organized processes. If Investors sense any gaps in your workflow and find that you are dependent on manual processes and workarounds, they will take their money elsewhere.7. Legacy systems are not supported, serviced, or enhanced in the way you expect?A product is only as good as its provider. Is you provider paying enough attention to you after the sale with 24/7 support? Does your provider have a track record of continuous product updates? Do they provide product training? Are they attentive to your suggestions or new ideas? Your provider must provide long-term support if you want your new system to last. Your product must be scalable, flexible, and must be built on open source technologies. In addition, your provider must not only help you set up but also ensure that your systems perform optimally without any disruptions. A relationship is a two-way street; as such, providers must be able to respond to your issues quickly, and also help your business adopt new functionality as and when it is needed.Invest in your growthA portfolio management system is the heart of your business. With a weak system, your business can be at serious risk, and you may not have the time to address it before it fails completely. Investing in technology will give you greater efficiency, reduced risks, and help you make informed decisions. Your provider, therefore, must have a proven track record of being committed to long-standing services, continuous improvement, and support you as you grow.

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Burnout and Educators

As globalization and technology continue to change the way in which businesses function, the need for highly skilled workers possessing the ability to synthesize, analyze, and communicate will be the litmus test separating successful from unsuccessful economies. Where does the US fall in light of this? Can the US produce sufficient highly skilled workers to meet the demands of an ever evolving society? If the 2010 results of the Program for International Student Assessment (PISA) is any indication, then the US was found wanting.The test results showed US students lagging behind many of their peers from other countries in core subject areas. This realization has once more invigorated the consistent intermittent debate surrounding quality education in US schools. In the aftermath of the report, the brainstorming sessions that follows will once more seek to unearth the impediments to the creation of a better education system. What will be discovered? An examination of prior measures unveiled to address the shortfalls of quality education to date seemed to focus consistently on educators as a causative element.The No Child Left Behind Act (NCLB) (2002), as well as research which hints that a high quality teacher is the single most important factor that influences students academic performance give credence to the prior statement. These avenues which seek to focus on ways to increase academic achievement seem to hint that educators are the most critical element impacting the ability of students to perform academically. This conclusion has led to extreme pressures on educators to increase academic performances. These pressures while not new (for as Popham stated, they existed prior to NCLB (2004)), will increase in magnitude as the world continues to change. Can this continuous insistent pressure result in adverse effects for educators? What are the implications for the teaching and learning environment, and invariably society?Relentless pressure to perform in environments that are highly volatile is often conducive to burnout. This burnout is a nemesis to the creation of an education system that is capable of producing students equipped to deal with 21st century workplace challenges; skills which are critical to any country hoping to maintain or achieve a competitive advantage. Drucker makes this point when he coined the term “knowledge workers’ and highlighted their importance for the success of 21st century businesses. This paper examines the principles of rest and highlights the value of rest to educators operating in contemporary educational environments.The paper pinpoints the challenges facing contemporary American education system which may inhibit rest and brings clarity to the dangers of burnout – a condition created by lack of rest. Leaders in education as well as stakeholders are provided with clear guidelines which may be used to prevent burnout and promote rest. The paper ends with a plea for education leaders to adhere to the necessity to rest in order to construct learning environments capable of creating students with the analytical, synthesizing, and communication skills that are critical to meeting the demands of contemporary and future organizations.The day started with an Individualized Education Plan for one of my students. Once the meeting was finished, I analyzed the results from the summative assessment for forty students from the previous day. I realized that fifteen of my students did not grasp some of the key concepts from the lesson and so I commenced planning intervention strategies. Two strategies had to be different to accommodate two of my students who needed modified assignments. This activity took almost fifty minutes. So, I had just enough time to adjust my lesson plans for the day. It was now five minutes before the start of class, and as I checked my calendar, I realized I had a meeting at the end of the day with teachers from my department. I made a note to myself, “just before I leave for the meeting I must remember to call the parents of three of my students as they were not completing homework and had started acting up in class”. As I jotted the note, I glanced at the other meetings and forms that needed attention by the end of the week. As the bell rang one teacher passed my door and as I smiled politely and asked “how are you;” she looked at me and stated “I am overwhelmed, there seems to be so much to do and with all these meetings I am quite frankly exhausted.”Rest -the principle
“After God created Heaven and earth on the seventh day He rested (Genesis 2:2).” According to Botterweck, Ringgren & Fabry, this day, often recognized as the Sabbath stems from the word Sabat, symbolizing cessation from work (2004). Genesis 2 therefore set the precedence for mankind to take a break from work. As one journeys further into scriptures Hosea 10:12 “… fallow your ground… ” when examined through Robbins Social Approach to understanding text represented a call for mankind to desist from their activity. While the verse may have held cultural implications for the Jews as they were farmers, the ramifications for mankind in contemporary society are no different. The principle demands mankind be removed from the confines of work; that time be taken away from the everyday tasks.The value of rest
The necessity for educators to rest is vital to the creation of effective teaching and learning environments. Outcalt (2005) believes rest allows one to regain strength through the renewing of the mind. Rest is akin to the lubricant between two joints; it provides the conditions necessary for smooth operation without complications which may inhibit action. Rest is the indispensable ingredient that fosters motivation and drives creativity, without this ingredient motivation is stifled and the death of creativity fast-forwarded.The value of rest and renewal to educators is critical to the creation of an effective and sustainable education system. As the world continues to evolve and the momentum of change accelerates, the pressure on educators to produce students who are academically proficient to manage the demands of the 21st century will continue to increase. This increased demand will force leaders and stakeholders to demand more from educators; a move which has the potential to drain educators physically, emotionally and spiritually as they work overtime to increase students’ performance. Maslach and Leither (1997) convincingly made similar points when they stated that the speed and rate at which organizations are bombarded with changes may result in leaders and followers becoming physically and emotionally exhausted. In a bid to meet these demands, the possibility that workers will lose rest is likely and unfortunate. Without rest, creativity is stifled, motivation becomes a fantasy, competence is sacrificed, and mediocrity flourishes. These outcomes erode creativity, innovation, collegial relations, and productivity. The end result is that rest is sacrificed and inefficiency is given room to grow.In a society where change is a constant and stability is a pipe dream, the need to be constantly moving to be in sync with societal changes has the propensity to hinder rest. Managers and employees are often driven to work harder and longer to avoid mergers, downsizing, acquisitions and restructurings. The same holds true for educators. Standardized tests show many students not meeting the proficiency bar; drop-out rates climb; more students exercise their first amendment right to explain how entertainers make big bucks with little education and therefore education is not important; and law-makers continue to increase the pressure on educators to produce better quality students. These have factors have helped to create an environment where the necessity for rest often becomes blurred. For many educators, when the pace and workload become too hectic; depression, anxiety and stress are only a few outcomes. Muller made similar arguments when he stated that in today’s world, with its unrelenting emphasis on achievement and efficiency, it is possible to lose the essential rhythm of life and how best to create an equilibrium between work and rest (Muller, 2000).In a world driven by competition, where only the best shapes an organizations competitive advantage, it is easy to overlook educators as people and not machines and it becomes easy to under-value the job they do. It is also very easy to target education systems as the place to make adjustments in order to address societal ills and its inability to produce only the best.The onus placed on educators in the US to produce first class students in a constantly changing environment, creates an environment of high demands. These demands often unrealistic in nature (as education is by no means the sole responsibility of teachers) often result in stress and lethargy in the affected. Maslach and others (1997) succinctly made similar points when they stated that the burden placed on workers to increase productivity creates conditions that are conducive to burnout. Burnout takes away an individual’s vigor, promotes lethargy, and reduces motivation and efficacy. Such end results negatively affects individuals ability to perform, and thereby subtracts from any efforts to maintain or promote long term sustainable achievements.The foundation of burnout
Burnout according to Maslach et.al (1997) is a symbol of foremost failure of the organization to function normally, which is associated more to the state of mind of the organization rather than its followers. It may manifest itself in detachment, disinterest, hopelessness, and de-motivation. According to Maslach et.al (1997), these expressions are damaging to the individual on a personal as well as on a professional level. On a personal level, stress, health issues and anxiety are some of the end results. These personal afflictions spill over into the professional life and slowly drain the individual’s ability to function at their fullest potential.Burnout incapacitates the ability to think and to be innovative in coming up with new ideas, and it limits creativity. It increases workers attrition which may show itself in increased absenteeism, distractions, and loss of vigor. Follower’s dedication diminishes and efficiency may ultimately suffer.Eradicating Burnout
To prevent burnout, Halgesen (2001) calls for both leaders and followers to create an environment of partnership where parties recognize the value of each other. Maslach, et.al (1997) support this hypothesis when they call for organizations to ensure they develop values clarification which they define as, “the expression of personal values and shared values resulting in the endorsed values by the organization” (p. 133).According to Maslach and Leiter (1997), building engagement with work is the solution to burnout. To this extent, they noted some factors which if addressed will help to minimize or eliminate burnout.� Sustainable workload: As 2011 budget debates begin, the need to cut budget for education is once more on the table. The teaching staff and support staff for many schools will once more be targeted. Leaders need to recognize that by removing well needed staff especially in failing schools, they are creating additional pressures on teachers. Evans (2001) posited that the continuous involvement of teachers in their work can lead to burnout; too much work has the ability to compound the situation. While teachers are afforded a long summer break, is it possible to shorten the summer break and distribute “rest days” evenly throughout the semester?� Feelings of choice and control: Policy makers need to ensure that any policy created to promote academic achievement should give educators the impression that their voice counts and that they have control over aspects of the teaching and learning environment that counts.� Recognition and reward: High quality education is a definitive factor that favors countries with a competitive advantage. This quality education if often accessed through educators, yet education is arguably one of the lowest paying professions. What can be done to change this?� Fairness, respect and justice: As the debates continue to find the qualities to define quality teachers, the impetus to align pay with performance may be a
tempting morsel. This morsel should be discarded on two accounts. The first is that research against extrinsic motivation hints at the negative effects of this manner of getting results. Secondly, in an era when Learning communities are expected to be sharing medium where teachers utilize best practice from these sessions; how many teachers will be willing to share their best practices?Conclusion
While the necessity to increase student’s performance continue to reign as a topic worthy of discussion, budget cuts in areas of education seems to put the debate to rest. This has resulted in fewer educators, with heavier workloads and longer hours. This new trend goes against the demands of an era where students with analytical, synthesizing and communication skills are necessary to fulfill its demands. These decisions have the propensity to undervalue educators and may result in burnout; a condition which fosters inefficiency and mediocrity- traits which are not conducive to the creation of effective teaching and learning environments. To avoid this pit fall, leaders must be willing to examine techniques to prevent burnout, if any serious attempts are to be made to produce students with the skills necessary to function in 21st century environments.References:Botterweck J., H. Ringgren & J. Fabry (2004) Theological Dictionary of the Old Testament
Wm. B. Eerdsman Publishing Company Grand Rapids. Michigan.Halgesen. S. (200) Thriving in 24/7: Six Strategies for taming the new world of work
Published by Free Press. New York. New York.Maslach C. and Leiter M. (1997). The truth about burnout
Published by Josey-Bass. San Francisco. Calfornia.Outcalt. T. (2005) The best things in life are free.
Published by Faith Communications. Deerfield Beach, Florida.Popham. J. W. (2004) America’s Failing Schools
Published by Routledge Falmer. New York. New York.

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How Getting Personal Loans With Bad Credit Can Begin Financial Recovery

Securing funding is not easy when applying for personal loans with bad credit. Most lenders are hesitant when it comes to considering applications from bad credit borrowers, especially when the loan sum is large. But convincing them that repayments will be made on time is certainly not out of the question.There are issues that need to be dealt with first, of course, which will strengthen the application and make it difficult for lenders to say no. Then getting loan approval is more likely, and the route to financial recovery can be cleared.But what are the main considerations when compiling an application that is strong enough to ease lender worries? These are quite simple, from choosing between a secured or unsecured loan to detailing the purpose of the loan funds. Then the personal loan, whether large or small, is closer to being attained.Secured Or Unsecured Loans?The first choice people face when seeking a personal loan with bad credit is whether to apply for a secured loan or an unsecured loan. There are significant differences between the two, not just in the chances of getting approved but in the affordability and loan size.Secured loans are issued with some form of collateral promised in compensation to the lender in the event that the borrower defaults on the loan. The addition of collateral means that the interest rate charged is lower, but getting loan approval is dependent on the value of the collateral at hand. A $20,000 loan will not be given with collateral worth $10,000.Unsecured personal loans have no collateral involved and so come at higher interest rates and usually more limited loan sizes. A variety of types offer differing approval chances, but they can range from $100 to $25,000, with repayment terms from 14 days (payday loans) to 10 years. The longer the term the more affordable the larger loan sizes are, but also the better the chance of approval.Key Factors to ApprovalSo, how can someone seeking a personal loan with bad credit hope to get approval? Well, the chances are greatly enhanced with collateral, but whether security is provided or not, the key factors considered are income and the debt-to-income ratio. Without these in order, affordability is in question.Income is obviously important, with a proven reliable source of income essential if a lender is to feel confident repayments will be made. Usually, getting loan approval is only possible when a full-time job has been held for at least 6 months.The debt-to-income ratio is probably more important. The ratio is calculated by combining all of the existing outgoings (loans and general monthly expenses), and comparing them to the total monthly income. A 40:60 ratio is set, meaning only 40% of the excess income can be used to repay any new personal loan. Failure to stay within the 40% mark guarantees rejection.The Value of PurposeWith the chief approval aspects being income and the debt-to-income ratio, bad credit clearly has little to do with the process, which is good news when applying for a personal loan with bad credit. However, there is more to it than that also.Purpose plays a very big part in getting loan approval, with lenders wanting to know that the funds will not be wasted. While technically funds from a personal loan can be used for anything, frivolous purposes are unlikely to convince lenders to approve the loan. However, something like clearing existing debts is impressive.And the benefits of having such a responsible purpose mean the terms of any future loans are much better, with lower interest rates and a greater likelihood of any application being given the green light.

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Online Degree in Finance Offer CPA, CMA and CFA Job Opportunities

An online degree in Finance is one of the best options to take if you are eying for job opportunities in financial planning, corporate finance, insurance, investment banking and real estate. The study of finance evolves around the science of funds management such as in saving and in lending money.Technically, it deals with the spending and budgeting of finances where money, time and risk factors intertwine.There are three general areas of finance; namely, personal finance, business finance and public finance.One aspect of this field deals with bank deposits of business organizations and individuals which the bank lends to other corporations and individuals for investment or consumption and for interest charges on loans. When it comes to personal finance, it involves paying/financing for education; durable goods like cars and real estate; insurance; investments and even for retirement purposes. It may also involve payments for debt obligations or loans.Since an online degree in Finance promises wonderful job opportunities as opposed to those who graduated from a traditional classroom setting, more people have opted to learn via online forums. With a busy schedule and a family to feed, it is really hard to go back to school just to enroll in Finance courses. This makes online education the best choice for those opting for a career change or to finish their studies while working.An online degree in Finance seems to be the very popular major these days. For this reason, most universities and institutions now offer not only bachelor degrees but also masters and PhDs. Even payment options are not as difficult now as it was 5 to 10 years ago.Aside from student loans, there are other payment plans you can choose from.When it comes to choosing an ideal university or school for an online degree in Finance, you need to initially think about the factors you are looking for in an online institution.With so many options to choose from, it may be hard to decide which is the best and most suitable for you. Factors you can check include the accreditation, the course outline, the schedules, the popularity and most of all, the cost.The best thing about getting a finance curriculum is the fact that it can provide you with the fundamental financial management tools which can help you succeed in analyzing as well as executing financial aspects of major managerial decisions. To succeed in a career in finance, all you need is a bachelor’s degree.Most online universities offer finance courses that focus on ethics, technology, critical thinking, e-business, problem solving, statistical analysis and other research methods. Then again, if you want to land in a career in financial management, you can also get a master’s degree or an MBA. For CFA certification, a bachelor’s degree will suffice.Whether it’s a bachelor’s degree, a master’s degree or a PhD in Finance you are considering, online universities offer the convenience of time and money. Through an online degree in Finance, you can advance your professional credentials and gain certifications as a CPA (Certified Public Accountant), CMA (Certified Management Accountant) or CFA (Chartered Financial Analyst).

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Network Marketing Recruiting Secrets Revealed

In this article, we’re going to cover how you can maximize your network marketing recruiting efforts while dramatically increasing the retention rate and overall performance of your downline. I am not going to sell you on anything whatsoever. I am not going to attempt to convince you to join my opportunity and I am not going to hold anything back on what you need to do to be successful. This information is my gift to you with absolutely no strings attached. Why I am giving this information away for free? My satisfaction comes from knowing that I have made a difference in the lives of people that are struggling with a home-based business opportunity and I know how that feels. It also means that my chosen industry of network marketing will continue to be respected as a viable and logical alternative to conventional business and employment.As you find yourself understanding the principles I’m going to outline, you’re going to have a clearer picture of exactly what you need to do to make it to the top of your company’s compensation plan. Many of these secrets will doubtlessly be very scary to some people. However, if you’re the kind of person who is ready for success, you’re going to benefit from this information by leaps and bounds.The cornerstone secret to recruiting for your network marketing opportunity is integrity. As obvious as this sounds, there is much more to it. When a person is recruiting for their network marketing opportunity they don’t set out to give their prospects the wrong idea of what network marketing is (I least I hope they don’t) but what sometimes ends up happening, is that their level of excitement coupled with a misunderstanding of what network marketing is and is not, ends up leading their new independent representatives down the wrong road. This leads to frustration and ultimately ends with a collapse of their downline. With the knowledge I’m going to give here, you’ll be able to avoid this unforeseen pitfall.I have been hugely successful in network marketing, but it took many trials and errors before discovering how to succeed in this lucrative business, as well as how to keep people in my downline and help them succeed. In one opportunity I was able to recruit at least one person a day starting from day one, but I found that they would soon fall off out of abject frustration that they were not able to produce the results I was able to. At the time, I didn’t clearly understand what I was doing wrong but over the years the secrets to network marketing success have slowly been revealed to me.What can you do to make sure that when you’re out recruiting for your network marketing opportunity that people will stay involved and that you’ll be successful? You must understand exactly what network marketing is and who actually makes it to the top of your company’s compensation plan.Here are the secrets that you’ll need to know and that you’ll want to cover with your current downline and future prospects:Network marketing is neither a job nor a get rich quick pyramid scheme. This may seem like a no-brainer like many of the other secrets I’ll be going over, but bare with me and I’ll explain the reason why this fact can be so deeply forgotten or misunderstood that the obvious becomes hidden. Understand that most people-even after they’ve heard your presentation about starting a home-based business-still may not fully understand what huge differences rest between a home-based business and a job. People who enter your organization who are stuck on job-think will have put forth the investment to get started and yet they mistake the independent representative application with a time-sheet for clocking in to work. At many jobs, you clock in and regardless of whether you do anything or not you will still get paid (so long as you’re not caught slacking off too much). When a person is running their own business they will make absolutely nothing unless they market their business. Once you grow your residual income and the momentum of your downline, then you can relax…and do it quite comfortably! However, initially it’s going to mean working hard…very hard. You’ve probably noticed the strange phenomenon that almost every single network marketing company has someone somewhere complaining that that particular company is a scam, yet your company probably has outstanding products or services and they probably have oceans of people who are making money and who are excited about being involved. Pyramid schemes are illegal, and if a company is found to be a pyramid scheme it is quickly shutdown by the government. So why do some people seem so unhappy with network marketing? This is the secret that fast food companies, recliner chair manufactures, air conditioning manufacturers and insurance salesman figured out. The average person wants satisfaction right now. The average person will always opt for the most relaxing position in life. The average person doesn’t want to sweat and the average person wants to be assured that so long as they keep doing the same thing every month, the money will be there. Unfortunately, if a person has not been properly informed about what it really means to own their own home business, they will likely give up and join the naysayers. To be successful in network marketing a person must be patient as they work each day to build toward their success. They must be willing to step outside of their comfort zone. They must be willing to sweat a little by taking a chance on their own self-determination and they must realize that the size of their network marketing paycheck hinges not upon clocking in, but the courage to face down every rejection while moving with excitement and urgency toward the manifestation of their dreams. Yes, it is hard work. However, the upside to network marketing recruiting is that if you’ve been trained by a quality company, or upline leader in your opportunity, you’ll find that working hard in your network marketing opportunity can be fun and exciting.Network marketing success hinges upon hard work. A person cannot buy their way to top of a network marketing opportunity, it must be earned. Yes, it is possible to make it to the top of your company’s network marketing compensation plan by simply buying every prospect that you talk to a starter kit out of your own pocket and paying for all their customers (which would take a whole lot of money and very little work), but even if a person has that kind of money to waste, they’d find that their downline would collapse. The absolute only way anyone every makes it to the top of a network marketing opportunity and sustains and continues to grow their massive downline is by making a commitment to do network marketing recruiting the right way and by nurturing their downline. Nurturing your downline means being available to help them grow their own organizations. Recruiting the right way means putting your nose to the grindstone; putting your best foot forward to attract and present your opportunity to the right people, and never, ever, ever letting up on your success. If I told you I’d hire you for a job and that it entails working extremely hard almost every day of every month and that your reward will be to that get to work like a dog for many, many more years to come, would you take the job? Most people have agreed to that. Would it scare you if I told you that you’re going to have to work extremely hard over the next year to four years in your network marketing opportunity, but your reward will be that you’ll be able to walk away from your job, would you stick with your opportunity? If you answered “yes”, then lets proceed…because you already possess the characteristics that are at the nucleus of what makes top producers tick (courage and self-determination).Network marketing recruiting takes a highly-motivated and disciplined personality. This means that a person must have the discipline to monitor their level of motivation and if they ever find themselves falling below optimum levels of excitement, they will immediately do whatever is necessary to change course. That could mean taking the time to watch your company’s opportunity videos again and again everyday, so that you’ll have a fresh feeling of excitement and be motivated to make it happen. It could mean making a “success collage” created out of pictures of the places you want to go, the kind of house you’d like to live in or the kind of car you’d like to drive. It could mean calling up your upline leaders for some uplifting advice. It could mean consistently listening to motivational speakers, playing their audios at home and in the car or watching their videos on YouTube. To reach your success goals you must be motivated. To be motivated you must be excited to make it happen. Excitement is contagious, and it’s the single most powerful ingredient for network marketing recruiting success.Network marketing is not a pyramid scheme. People at the top of a network marketing organization do not necessarily make lots of money. What? Bare with me because this is another secret that might sound scary to some people but as I explain it you’re going to begin to understand exactly why you should be excited about this simple fact. Here’s how it works: If Alfred recruits Bob and Bob recruits Cassandra, we can imagine them in a straight line from top to bottom (A, B, C) with Alfred standing at the top of the organization, Bob standing on the level below him, and Cassandra last. Alfred goes wild, puts his nose to the grindstone and makes things happen. Cassandra is off the charts with her network marketing recruiting efforts; she’s always excited to talk to people about her opportunity and ends up building a massive organization. If we’d look back at Alfred, whose standing at the top, we’d see a massive organization below him due to his own efforts and multiplied by Cassandra’s diligence and hard work…but what about Bob? Bob only recruited Cassandra, he decided he’d stay involved because he loved the products and services, but he didn’t get promoted to any kind of prestigious title in the opportunity’s compensation plan. Why? Because network marketing isn’t a pyramid scheme and it isn’t a job. In a true network marketing company you can have someone above you who makes less money than you do. The percentages and bonuses you earn in a true network marketing opportunity are based upon your earned position. The keyword here is “earned”. If a person does not acquire the customers or independent representatives that they need to quality for their opportunity’s higher earned position they’ll earn a bit more money from the efforts of someone like Cassandra, but it will be pennies compared to what Cassandra earns herself. Yes, Bob is at the top of the huge organization but it’s Alfred and Cassandra who are making the real money, and rightfully so. In a conventional business, whether large or small, a person’s job position in the corporate pyramid linearly dictates how much money they make. In almost every case, in a corporation, the people at the top make the big bucks and the people at the bottom make much, much, much less. Network marketing rewards the people who are hungry for success regardless of where they are located in the organization’s structure. Think about that.You have to talk to people. This one also seems completely obvious and because of that I never saw it as something I had to point out in my early days of network marketing. Due to leaving this out, many people in my downline would complain that they weren’t making any money. I couldn’t understand what was happening, but now I can share this with you: To be successful in network marketing you have to be willing to talk to people and share your opportunity in as many different ways as you can possibly think of. Have you put the link to your opportunity website in your email signature? Have you sent a short, gentle but excited announcement to every person you can think of, informing them that your home business is open for business? Have you made a YouTube video proudly and excitedly talking about all the neat stuff about your opportunity’s products or services? Do you have the courage to give a brochure or a DVD to a complete stranger? Make a commitment right now to inform your downline that to be successful in their own home-based business they must let as many people as possible know that they’re in business. Reveal to people that the secret to making money in network marketing is talking, and those who keep on talking are the ones who make it to the top.The average person will not get rich with network marketing. This fact sounds pretty depressing when you first read it, but let me ask you: Do you consider yourself an average person? I can already answer that question. No, you are not an average person because if you were, you wouldn’t be reading this. An above average person is willing to take the time to invest in themselves and you’ve invested in yourself by seeking out knowledge that you can use to propel your business forward. Read this network marketing recruiting secret again and realize that it doesn’t have anything to do with whether or not you are going to be hugely successful in network marketing. You must refuse to be average. You must refuse to back down or give up. The average person is not self-motivated or excited about putting in hard work even if it means literally changing the future history of their family tree. Therefore, yes, it is an absolute fact that the average person in network marketing will only make a little money or no money at all. The average person doesn’t have anything to do with you or what you are capable of. You have made it this far. I have gut-checked you over and over, and you’ve made it this far. Are you going to give up or are you going to take the bull by the horns and prove that I am right when I say that you are not just another average person, but an above average success story in the making?You must not be afraid to sell. A person must have no fear of the word “salesman” and no dread of the concept of “selling”. There are life-saving devices in hospitals because a salesman had the courage to stand by his product. If you know someone whose life was saved by a defibrillator, thank the doctor, nurse or paramedic…and don’t forget the salesman who sold their hospital the unit. If someone asks, “Are you trying to sell me something,” respond with excitement, “You bet I am…and you absolutely have to take a look at this!” Salesman are the highest paid people in the world. Why anyone would not want to be a salesman beats me. However, in network marketing you are selling your products or services but you are marketing your business opportunity. Successful network marketing recruiting means knowing the difference between these two areas of your business.Successful network marketing recruiting doesn’t mean chasing people. Now that we’ve moved beyond the word “salesman” we can get to the pinnacle of network marketing recruiting secrets. In terms of getting people to sign up for an opportunity, a person must understand that successful network marketers do not sell people on an opportunity. You sell people products or services and selling them on a product or service means that you might need to convince them that it is superior to the competition or that it is otherwise something that will enrich their lives. Successful network marketers do not sell people network marketing opportunities, they market them. Marketing means inviting and inviting means we’re giving out invitations. An invitation, although it can certainly be an open invitation, typically means that a person has been assessed and selected to participate in an event or organization. I have absolutely no interest in chasing anybody to do anything. I will invite them. I will market my opportunity by letting as many people as possible know that the opportunity is here; that it exists, but it’s up to them to accept or reject the invitation. To be successful in network marketing a person must grow an awareness of the existence of their opportunity and let people make up their own minds. Almost everyone I had to convince to make an investment in themselves didn’t make any money no matter how much I tried to help them. I found myself not wanting to help them because they were so negative and required too much of my energy to motivate. On the other hand, those who are invited to watch a DVD, invited to listen to a business opportunity briefing or invited to click on a link, and who decide to get involved, are the people you will want to help make it to the top with you…and they are the ones who are going to help you get it to the top!I’ve given you the knowledge that I wish I had years ago. Now it’s up to you to dig down deep within yourself and find the courage to make it happen.I wish you health, happiness and success!

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