7 reasons why you need to start a network marketing business

Today, I am going to talk about 7 reasons why you need to start a network marketing business, especially if you are considering starting a new business or you are unepmloyed.

Like Robert Kiyosaki asserts, there is no such a thing as a "safe and secured job". Before you disagree with kiyosaki, I want you to take a good look at the present state of Nigeria and you will come to realise that it is no longer news that there are no jobs to engage all the Nigerian graduates. The fact that you went to school and graduated with good grades is not a guarantee that you will get a job or become successful after school. Even if you do, chances are you will not be paid your real worth. You are also not in control of your time, destiny and the the way you live your life. You can be laid off anytime when you least expect and that will leave you stranded wondering what to do next.
It is risky leaving your destiny and financial future in the hands of an employer. Infact, it shouldn't be an option. Financial experts have come to a conclusion that the only way to secure your own future, is to start your own business.

WHY SHOULD YOU CHOOSE NETWORK MARKETING?
Robert Kiyosaki in his book Cash Flow Quadrant" states that there are four kinds of people; The Employee, The Small Business Owner, The Investor, and The Big Business Owner. Majority of the world's population are on the E quadrant living on paycheque because they are working for someone else. But if you seek true financial freedom, you have to move to the S (small business) I(investor) or B(business owner) sides. Starting a small business is good but the caveat is that your presence will always be required for your business to run effectively. You may also be required to do the job of different people, e.g you will be the manager, accountant, supervisor, head of operations etc and you don't enjoy LIVERAGE in any way. If for any reason you fall sick or you travelled out for 3 months, your business won't generate you any money when you are back. True financial freedom has to do with the fact that your business is making you money even while you are away and that's what you get when you are in the I and B quadrants.
Below are seven reasons why you need to start a network marketing business

1. FINANCIAL FREEDOM
"There is no true freedom without financial freedom"- Robert Kiyosaki. One of the main reasons you need to own a network marketing business is that it transits to financial freedom. True financial freedom means you being able to earn lots of cash without your presence been needed. However, in a job you are selling your time and expertise for money. What that means is that, when you stop working you stop making money. In a network marketing business, there are hundreds and thousands of customers that are already generating the income. You can even go on vacation and the money will still keep hitting your bank account.

2. BUILD YOUR FORTUNE, NOT SOMEONE ELSE'S
On your current job, who is making a living and who is building a fortune? That is a question you need to answer with all sincerity. The person who is building a fortune is whoever owns the asset because the asset is the business. This is where the control and wealth is. When you are working as an "employee" you are spending your 8 hours daily building an asset for someone else. You are paid just 5% of how much money you are generating for your employer in a month. You are earning a living while the business owner (your boss) is building a fortune. Let's take the case of a bank marketer for instance, he goes into the street in search of customers under the sun or in the rain and he generates billions of naira for the bank, only to be paid a tiny part of how much he makes for the bank as his take home pay. You can do this same job in your network marketing business and build a fortune.

3. GET FREE 5* HOLIDAYS, DRIVE A LUXURY CAR AND LIVE IN A LUXURY MANSION.
Can your present employer get you an all expense paid 5 nights vacation abroad?
Can your present employer reward you with a luxurious car for your hardwork ?
Can your present employer reward you with a mansion for your hardwork? The answer is a capital NO. Top network marketing companies rewards their members with these great incentives as appreciation for their hardwork. These incentives includes 5* all expense paid trips to foreign countries, luxury cars, mansions etc. If a network marketing business can pay for all these then what is the essence of saving up your salary for years just to aqcuire all these? No employer will reward you hansomely like a network marketing company will do.

4. CREATES A SYSTEM AND LIVERAGE
As an employee, you will never get this anywhere and it is one reason why you need to start a network marketing business. When you are an employee, you are selling your time and expertise for money. If you fall sick or stop working, you stop being paid. In network marketing, you earn income consistently on sales of products and services generated by your organisation, even when you may not need the money it will still be flowing into your bank account and without you been present. Successful millionaires understands this secret and they capitalise on it. Let's take the case of the riches black man in Africa for instance. Let's assume Dangote has 50,000 staff working for him globally. These 50,000 people are spending their TIME and ENERGY to generate income for Dangote everyday. They exchange that their TIME and ENERGY for a paycheck working 8hours daily. Let's do some analysis. 50,000 people working for 8 hours daily-this equals to 400,000 hours (approximately 45 years of work delivered to one man in a day), you now know why he is the richest man in Africa. Now, assume you want to work for 24hours non stop, it will take you 45 years to earn the same amount of income Dangote makes in a day. That is the power of LIVERAGE. You may want to ask, why will over 50,000 people work for Dangote? The answer is not far fetched, he has created a SYSTEM that these people can operate to earn him cash and this is the second secret of successful millionaires. With network marketing business, you can create a SYSTEM and LIVERAGE and have people in your organisation do the work for you while you keep earning even while you are sleeping and snoring or on vacation far away in Dubai.

5.TIME FREEDOM
A major disadvantage of a traditional business and the traditional 9 to 5 job is that of lack of time freedom. You sell your time in a job of 9 to 5 for a fixed income. You don't have the freedom to decide when to go to work or when to close. Your employer decides when you should be at work and when you go home. This is no way different from the traditional business model. While you may enjoy the benefits of being a boss of your own, there chances you will end up working longer than you would had you been an employee. You become a slave to your customers. On the other hand, network marketing removes these barriers. Like John Kalanch put it in his book, Being The Best You Can Be In MLM, he says..."No other support system of which I am aware...so completely honors the freedom and responsibility of the individual. From your very first day in Network Marketing you are free.
You choose with whom you want to work...
You choose when you want to work...
You choose where you work...
You choose your style of working: person-to-person, through the mail, over the phone, in small groups or huge gatherings of people. Every single aspect of your business is up to
you. It's your choice because it's your business."
Yes, with network marketing you have this freedom.

6. BECOME A MILLIONAIRE
Your present job cannot make you a millionaire. Infact, I have not seen any employee anywhere in the world become a millionaire by relying solely on his paid job. Research has shown that the network marketing industry makes more millionaires more than any other industry in the world. The Network Marketing Industry over 80 years has recorded the largest Self made Millionaires in less than 5 years. What job can you do that will give you such leverage. Think about this! But with a network marketing business, you can attain that millionaire status within a short while once you are focused with your business and determined.

7 SELF DEVELOPMENT
When you start a network marketing business, it gives you an ample opportunity to train yourself as a leader because you also have to train those you recruit into your business. You will realise that you will begin to read books and study about your business and self-development so as to be a better leader in other to carry those in your organisation along. When you sign up under a supportive upline, he/she will also begin to to give you tips on self-development and how to succeed in your business because they understand that your success is their success and this makes you a more better person. In network marketing, you can learn skills such as public speaking, mentoring, coaching and how to relate with people.

I hope you find value in the 7 reasons to start a network marketing business.

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10 Things You Must Do Before Quitting Your Job To Start Your Company - Career

You have a dream but you need a checklist to achieve it.

So you've decided you're ready to take the plunge, quit your job, and get your own company up and running. You have an amazing ">business idea you are ready to launch. You're probably excited and nervous at the same time, which is perfectly understandable. If this is the case, you need to take a step back and remember that you simply can't walk into work tomorrow with your resignation letter.

Being impulsive could be a huge mistake so you need to create a list of the advantages and disadvantages you will face when quitting your job. If you decide it's still what you want to do, there are a few things you must put in place before you quit.

To help you get ready before your big day of freedom, I've highlighted 10 things you should do before quitting your job and starting your own company.

1. Do research.
Quitting your current job before getting your company off the ground may seem like the best option, but trust me, it's not. The best way for you to get the wheels rolling in a safe and profitable way is to grow your business while you are still employed. This will make your transition from an employee to an entrepreneur a little smoother.
You can't jump head first into building your new office block or warehouse if you haven't done your research. You need to know that you have a product or service that you know the ins and outs of, that is unique, and above all, that will sell.
Background research you need to do includes, but is not limited to:
Learning everything about your product or service
Knowing your audience and buyer personas
Researching your competitors
Finding the right teams
Knowing what your most profitable sales and marketing channels will be.

2. Create a business plan.
Once you've done your research, you need to put it on paper. Laying out a business plan before taking the plunge will be a key success driver. Your business plan will be something you will show to potential investors, partners, and other company stakeholders. It typically includes:
An overview
An executive summary
A company description
Your objectives, vision, and mission statement
Information about the market and industry into which you are entering
The strategy you are going to follow to enter the market
The team you will have
A marketing plan
An operational plan
A financial plan
An appendix with more detailed information

3. Outline Your Funding Options
Before looking at funding for your company, you need to have your own personal finances in check. If you quit with just a couple of hundred dollars in your pocket, with rent, insurance, and your phone bill to pay, you may find it difficult to focus your efforts on your new company.
In addition to planning your personal finances, you will need to have a plan for your startup. You'll typically have three options:
One or multiple investors
Your personal savings
A grant or award for your project
Either way, you need to plan in advance because if you can't get the capital to get started, your business will stagnate and you will be faced with very few options.

4. Create the structure for your business.
You need to have the structure for your startup in place before you can quit your job, specifically, your legal structure. There are various types of businesses entities you could become:
A corporation
A limited liability company
A partnership
Sole proprietorship
You need to consider:
The operational complexity
Liability
Taxes
Control
Capital
Licenses, permits and regulations

5. Leverage your resources.
Of course, you do not want to spend money if you can avoid it. You need to look at the resources that are currently available to you. For example, you may have a friend who is a web developer; they might be able to give you special rates and work for you on a need-to-know basis.
You should contact friends who have started their own business and ask them if they know a good accountant, marketing expert, and so on. Think about joining an online book club to learn more about entrepreneurship, try Read with Entrepreneurs by Cynthia Johnson.
Lastly, contracting all your experts could become expensive. Consider investing in online education for your team that will teach them skills, such as SEO, email marketing, and much more.

6. Leave on a good note.
Quitting your job without working your notice period, gossiping across the office, not completing your final assignments, and not training your replacement could be the worst decision of your life.
Of course, you are leaving to start your own venture, but you cannot be sure that tt will be a success or that your old company won't come in handy one day. Leave without burning any bridges amd you may be able to cash in a favor one day. Your old employer may even send clients your way knowing that you are a trustworthy businessperson.

7. Don't forget the smaller planning details.
As an entrepreneur, it's easy to become the type of person that can see the big picture. Unfortunately, if you don't focus on the small details, you won't be able to mold the perfect company. Planning is key, and little things such as choosing the right social media channels, keeping up to date with emails, or even remembering to file your taxes are vital to your success.

8. Choose your new office space.
When planning the day when you quit your job, many assume that they will work from home until their company is off the ground and they have a team backing them up. Although this could work in the short term, it's not a feasible option in the long run.
If you choose to work from home, you need to find a balance between your personal space and work space. Working in bed, on your computer, all day, every day will lead you towards an unhealthy lifestyle that could have a domino effect on the progress your startup makes.

9. Create a portfolio or resume.
You may think that owning your own company means you'll never have to create another resume in your life. Wrong! Bulking up your resume and/or portfolio is a key driver when building your new business because you will need to prove to your investors, teams, and even clients that you are worth their money.

10. Finally...
Remember that starting a new business is going to be more challenging than you imagined. You're going to have to make the planning process your full-time job before you even see an income. That said, with the tips outlined above, you could make it the best, most profitable adventure you've ever embarked on from both a professional and emotional point of view.

Source: https://gabrielatanbiyi.blogspot.com.ng/2017/06/10-things-you-must-do-before-quitting.html

FG seeks $5bn loan from World Bank to improve electricity

The Federal Government is seeking a loan of $5 billion from the World Bank Group to boost power availability in Nigeria.
The World Bank had in April stated that a delegation from Nigeria was in Washington DC to discuss assistance for the nation’s power sector, but did not disclose the details of the talks.
However, Punch reports that the Federal Government was actually seeking a loan of $5 billion for the power sector in order to boost electricity availability in the country.
Present at the April 25, 2017 meeting in Washington DC were the Minister for Power, Works and Housing,
Babatunde Fashola ; Minister of Finance,
However, investigation by our correspondent showed that the Federal Government was actually seeking a loan of $5bn to be channelled into the power sector in order to boost electricity availability in the country.
Present at the April 25, 2017 meeting in Washington DC were the Minister for Power, Works and Housing,
Babatunde Fashola ; Minister of Finance, Kemi Adeosun ; Chairman, Senate Committee on Power, Steel and Metallurgy, Senator Enyinnaya Abaribe ; and Chairman, House of Representatives Committee on Power,
Dan Asuquo.
At the end of the meeting, the Director of Operations at the Multilateral Investment Guarantee Agency, an arm of the World Bank Group, Sarvesh Suri , said a full range of instruments would be deployed to help the government mobilise investments directly from the private sector and through private sector guarantees.
The bank said addressing energy needs in Nigeria required investment from the public and private sectors, adding that working with the World Bank Group could help catalyse significant private investment in an environment that best assured successful delivery of increased power supply.

MLM vs. Pyramid Scheme know the difference

Fraudulent pyramid schemes — like Ponzi schemes — are illegal but often try to disguise themselves as MLM (multi-level marketing) programs. Traditional MLM programs are legal because there is a real product that is being sold through the channel.

Comparison chart

MLM versus Pyramid Scheme comparison chart

	MLM	Pyramid Scheme
What is it?	Marketing Strategy	Fraudulent scheme
Setup	Commission is paid to distributors at multiple levels when product is sold.	No real product is sold.
Promised compensation	Enrollees are asked to pay money upfront in order to enroll. Participants in a MLM scheme make money from enrollment fees AND by selling products.	Enrollees are asked to pay money upfront in order to enroll. Participants in a pyramid scheme make money primarily from enrollment fees rather than by selling products.
Legitimacy	Legal	Illegal
Product	MLM is usually used as a channel for selling tangible products	There is no product except a fake investment

Contents: MLM vs Pyramid Scheme

• 1 Definition of MLM and Pyramid schemes
• 2 Setup
• 3 Legitimacy
  • 3.1 Caution
• 4 Compensation Plans and Models
  • 4.1 MLM Compensation Plans
  • 4.2 Pyramid scheme compensation models
• 5 Examples
• 6 References

Definition of MLM and Pyramid schemes

Multi-level Marketing (MLM) is a marketing strategy designed to promote their product by through distributors, offering multiple levels of compensation.

Pyramid schemes are, however, fraudulent schemes, disguising as an MLM strategy. The difference between a pyramid scheme and a lawful MLM program is that there is no real product that is sold in a pyramid scheme, and commissions are based only on the number of new individuals one introduces into the scheme.

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Setup

The main idea behind the MLM strategy is to promote maximum number of distributors for the product and exponentially increase the sales force. The promoters get commission on the sale of the product as well as compensation for sales their recruits make Thus, the compensation plan in multi-level marketing is structured such that commission is paid to individuals at multiple levels when a single sale is made and commission depends on the total volume of sales generated.

In the case of pyramid schemes, money is charged simply for enrolling other people into the scheme and no real product is actually sold. Only a few people (those who are involved in starting the scheme) make money, and when no new individuals can be recruited, the scheme fails and most of the promoters, except the top ones lose their money.

Legitimacy

The Federal trade Commission (FTC) has set guidelines that help consumers discern legitimate plans from illegal ones. The difference between MLM and pyramid schemes under these guidelines are as follows:

• Sales of actual product or services to consumers, MLM offers products whereas Pyramid schemes do not
• Commissions are paid on sale of products and not on enrolments; MLM has a hierarchical commission set up on the sales of products, whereas pyramid schemes are based solely on new enrolments.
• Company buys back inventory from participants at the time of termination, pyramid schemes do not have any inventory.

Pyramid schemes quickly become unsustainable because there aren't enough people in the world to support it.

Caution

Regardless of legal status, it is very important to note that a lot of people have lost money participating in MLM companies. Even for MLM companies that are legal, the bulk of the profits (if any) come not from selling products but from recruiting other members. This was covered well in this segment of HBO's Last Week Tonight:

As reported in that segment, chances of success are remote and most distributors receive no commission from the MLM company. As an example, 93% of Nu Skin distributors received no commission in a given month.

Before joining a multi-level marketing company, you should try and meet former members/distributors and learn from their stories. The Internet is full of these stories and there are also support groups where people meet to warn other potential members.

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Compensation Plans and Models

MLM Compensation Plans

MLM strategy has different compensation plans which differ slightly based on how the commission is distributed among promoters. The plans include Unilevel, Stairstep Breakaway, Matrix, Binary and Hybrid plans.

The Unilevel model is the simplest one. The design is such that a person can recruit unlimited “frontline” distributors for the product. The frontline distributors are encouraged to recruit more distributors, and thus the cycle continues. Commissions are paid up to seven levels deep.

The Stairstep Breakaway model is designed to encourage individuals as well as group sales. In this model, a group leader is assigned with multiple recruits under them. The goal is to achieve as set of volume of sales in a set time. Once that it achieved, the distributors move to a higher commission level. This pattern continues up to a certain limit, after which the distributor breaks away and this pattern of commission ceases. From this point onwards, other commissions and incentives are provided to the representative.

Matrix models are similar to the first type, except that a limited number of distributors can be sponsored at any level, and once that preset number is reached, another matrix can be started.

Binary models allow only two distributors to be sponsor in the frontline, and if there are more sponsors, they spill over to the next level. So at any level, only two distributors are required to complete the compensation plan. Also, the compensation has to be balanced between the two distributors at any level, such that the volume of sales does not exceed a certain percentage of the distributor’s total sales.

Hybrid models, as the name suggests, combine any of the above mentioned compensation plans.

Pyramid scheme compensation models

The models include in the Pyramid Scheme include 8-ball model and Matrix scheme. In The 8-ball model each person has to recruit two people into the scheme. These people have to pay a sum to enter the scheme called a “gift sum”. The captain or the person at the top receives the gift money from 8 people before exiting the scheme. The remaining people move up the scheme, and this pattern continues as more people are recruited into the scheme.

Matrix scheme is also a pyramid scheme except that people are required to pay for a product in advance and wait in a queue in order to enter the scheme. When the recruited person further recruits a certain number of people, he or she receives a product like a camcorder or television that is worth much less than the money paid, and exits the scheme. This scheme collapses when no more people are willing to pay and join.

Examples

One of the recent examples of a pyramid scheme is Malaysian SwissCash. Examples of MLM companies include Amway, Mary Kay, Max International, Herbalife, Kyani, Le-vel, Nu Skin and Jusuru etc.

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References

• http://en.wikipedia.org/w/index.php?title=Multi-level_marketing&oldid=340511991
• http://en.wikipedia.org/w/index.php?title=Pyramid_scheme&oldid=340891652

source:http://www.diffen.com/difference/MLM_vs_Pyramid_Scheme

7 Tips for Network Marketing Success

You probably have an image firmly planted in your mind of what network marketing (also known as direct sales or multilevel marketing) is all about--housewives buying and selling Tupperware while gossiping and eating finger sandwiches, or a high-pressure salesperson trying to convince you how easily you can become a millionaire if only you and your friends and their friends and so on would buy and sell vitamins with him.

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Both of these images couldn't be further from the reality of network marketing. It's neither a hobby nor a get-rich-scheme but an opportunity for you to earn money running your own part- or full-time business.

But what does it take to succeed in this industry? Vincent J. Kellsey, director of member services for the Direct Selling Women's Alliance, an organization that provides a variety of resources to women and men in the direct-selling industry, offers these tips for making it:

Choose wisely. There are six key elements you should be looking for [when selecting an opportunity].

Number one: stability. How old is the company?

Number two is excellent products or services that consumers will use and need more of.

Number three is the pay plan--how even and fair and generous overall is the distribution? This is really crucial as the pay plan represents exactly how you'll get paid--or not get paid.

There are really only two questions to ask [regarding this]: How many pennies out of each sales dollar get paid back to the distributors each month, and how fair is the distribution of these pennies between the old members and the new members?

Number four is the integrity of the company and the management. As much as possible, [investigate] the experience of the CEO, [their] experience in the network marketing industry, and their background. [Have] they been successful in other companies in the industry? Do they have a good reputation?

Number five is momentum and timing. Look at where the company's at, what's going on with the company, and if it's growing.

Number six is support, training and business systems. You may have [chosen] a great company with excellent management, products that make a difference, a pay plan that's uniquely fair and very generous, and momentum and stability, but if you don't have a system in place that works, all of that [doesn't matter].

Most companies will have a transferable training system that they use, and that's where mentorship comes in.

Practice what they teach. [To succeed,] you need to be willing to listen and learn from mentors. The way this industry is structured, it's in the best interests of the [MLM veterans in your company] to help you succeed, so they're willing to teach you the system. Whatever [your mentor] did to become successful, it's very duplicatible, but you have to be willing to listen and be taught and follow those systems.

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The higher-ups. It can be called various things, but the general term is the "upline," meaning the people above you.
How supportive are they? Do they call you? Do they help you put a plan in place? Are they as committed to your success as they are to their own? You should be able to relate to [the people in your upline] and be able to call them at any time to say "I need some help."
How much support there is from the people above you in the company is very important.
Take up the lead with your downline. There's a term in the network marketing industry called "orphans"--when somebody is brought in and then the person who brought them in is just so busy bringing in other people that they don't spend the time to teach and train [the new person].
You should be prepared to spend at least 30 days helping a new person come into the industry--training them, supporting them and holding their hand until they feel confident to be able to go off on their own. 

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You really need to ask yourself, are you willing to do that? Are you able to do that? This is really about long-term relationship building. It's not about just bringing people into the business and just moving forward. It's about working with these people and helping them to develop relationships.

On the net. People are utilizing [the internet] as their main marketing tool. [You can set up your site] with autoresponders so when you capture leads, the autoresponder can follow up with that person. One of the greatest keys to success in this industry is follow-up. Many people will have someone call them who's interested or they'll call the person and say they're interested, but then they don't follow up with it. Automation on the internet has allowed a much more consistent method of following up.

The only drawback with the internet is people who utilize it to spam. If there was one thing I could put forward to say, "Do not do" when utilizing the internet as a marketing tool, it's spamming because that can give a very bad reputation not only to you but also to the company you're working with.

Taking care of business. This is a business, and just like if you were running a franchise or a storefront, you [should have an] accountant. You have all the same write-offs tax-wise that you have with running a [full-time] business, so it's very important to [do your research] prior to getting involved, before you start making money from it. How is that going to affect you tax-wise? What are your write-offs?
It's important to set up a [support] team around you. I'd suggest seeking out lawyers who deal in network marketing, so they're very versed in all the laws and how that affects [your business.]. There are also accountants who specialize in dealing with homebased businesses specifically in the direct-selling industry.

Don't quit your day job...yet. Never leave your full-time position unless you're absolutely certain that the income that's coming in with this company is going to be there. [Be sure that] you've been with the company [for awhile] and that you know it's a stable company, and the income that you're earning is equal to or greater than the income you're earning from your job before quitting.

Etisalat, banks talks deadlocked over $1.2b debt

•Banks issue final default notice
•Telco’s fate uncertain as prospective investors remain undecided

The fate of Etisalat Nigeria, the fourth largest telecommunications network operating in the country, hangs in the balance as the telecom giant battles to pay its creditors.

Etisalat Nigeria had in 2013 obtained a seven-year loan facility of $1.2billion from 13 local banks and their foreign counterparts to refinance a $650 million loan as well as the expansion of its network but the company had missed the payment due to dollar shortfall in Nigeria’s financial system.

The loan, which involved a foreign-backed guaranty bond, was for Etisalat to finance a major network rehabilitation and expansion of its operational base in Nigeria.

The 13 local banks involved in the loan deal include: Zenith Bank, GT Bank, First Bank, UBA, Fidelity Bank, Access Bank, Ecobank, FCMB, Stanbic IBTC Bank, and Union Bank.

Investigation by The Nation revealed that Abu Dhabi state investment fund Mubadala, the second-largest shareholder in the business, had in April presented a final restructuring plan to the banks which they flatly rejected. The banks further gave a one month window for repayment which lapsed in May 31st, 2017.

The Nation gathered that with the telecoms company unable to redeem its payment, the banks have since issued Etisalat a default notice.

This is just as The Nation learnt at the weekend that Etisalat Nigeria is working with its lenders and Abu Dhabi state investment fund Mubadala, the second-largest shareholder in the business, to resolve debt woes it said were caused by a devaluation of the naira currency.

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Mubadala spokesman Brian Lott told Reuters on Friday that a local media report saying that the fund has pulled out of Etisalat Nigeria was wrong and that several proposals are under discussion.

He declined to elaborate on the options being considered but said he will know more next week.

The Nigerian affiliate of Abu Dhabi-listed Etisalat has said it is in talks to restructure a $1.2 billion loan after missing a repayment, though sources have said that talks reached a deadlock on April 28.

In a statement by Ibrahim Dikko, Vice President, Regulatory & Corporate Affairs, Etisalat Nigeria, the company described as spurious news report that Mubadala Development Company, the majority shareholder of the company is exiting the business.

In the statement which reads in part, Dikko said: “Whilst it is premature at this stage of the ongoing discussion to affirm that this is the conclusive option, Etisalat Nigeria considers it pertinent to state that parties in the negotiation are considering a number of options and discussions are at an advanced stage regarding the syndicated loan agreement with the banks. It will therefore be presumptive and in bad faith to begin to predict the outcome.”

Etisalat Nigeria, he stressed, “Can confirm that negotiations with the consortium of banks regarding the syndicated loan agreement signed in 2013 have reached an advanced stage. As noted in an earlier statement, we are considering a number of options and are not taking anything off the table at this time.”

Etisalat, he further emphasised, “Remains a viable business, having recorded its best financial year in 2016. So parties are keen to ensure that the ongoing discussions and eventual outcome do not affect the day to day operations of the business whether now or after the announcement of our agreement. All parties have continually demonstrated an interest in the continued operations of Etisalat as a business as it remains a backbone of millions of small business owners; multinationals, government and indeed Nigerian subscribers in general.”

However, it does appear that the apex bank and the regulatory agency in charge of the telecoms sector are not willing to stick their necks out for Etisalat again judging by their mute indifference to the lingering crisis involved the embattled telecom company and the banks.

When our correspondents broached the subject before the CBN spokesman, Isaac Okoroafor, Acting Director of Corporate Communications at the weekend, his rather terse response spoke volumes. “Call the Etisalat people please. We have nothing to say on that.”

His counterpart at the NCC, Tony Ojobo, informed our correspondent that he was going to get back soon but never did as at the time of filing in this report.

In the view of industry experts, the future of the telecoms sector looks bleak without Etisalat. One of those who share this sentiment is Mr. Olusola Teniola, National President, Association of Telecommunications Companies of Nigeria (ATCON), the umbrella body of telecoms companies.

Speaking with our correspondent at the weekend, Teniola said the issue of Etisalat leaving is a very complex question, as the insinuation describes a scenario whereby the subscribers on their network can be easily accommodated by other networks, which is not necessarily the case.

According to him: “No single network as currently configured and engineered can provide the requisite capacity to cater for any additional traffic burden a collapse of any single mobile network operator with over 20million subscribers will cause. It is more feasible that a more likely scenario of a merger or acquisition will occur in the form of an international player coming in to ensure continuity of Etisalat’ operations. This is more of a preferred scenario that should occur anything else will be disastrous for the consumers’ choice.”

Options before Etisalat, banks
Among the many options before Etisalat is to sellout its entire equity. The telco also ran into problem in Tanzania when the owners refused to put in more money. Specifically, United Arab Emirates telecom operator Etisalat had in 2015 sold its 85 percent stake in Zanzibar Telecom Limited (Zantel) to Sweden’s Millicom.

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Zantel, which has struggled against larger rivals Vodacom and Bharti Airtel, got up to $32million in net current liabilities at close of the deal, Etisalat said in an emailed statement.

Etisalat received $1 in cash while Millicom assumed the total debt obligations of $74million under the terms of the agreement subject to regulatory approval by the Tanzanian Communication Regulatory Authority.

According to a source in one of the dealing banks who asked not to be named, one of the options the banks proposed to Etisalat management as a middle way out of the crisis was for it to request for a bankruptcy status.

The official, who requested that his name should not be revealed, since he was not authorised to speak on behalf of the consortium, said the bankruptcy option would require having receivership management appointed by the banks to oversee its operations.

The other option before Etisalat is to go into a merger with the existing telcos operating in the country.

Already MTN had in the past signified interest to buy Etisalat but had to back pedal following its trouble with the NCC over unregistered sims. However, reliable sources say Globalcom may also be interested in Etisalat buyout but the telecom giant is said to be keeping its plan under wraps.

One of the options before the banks is to approach the court and get the board dissolved and take the company into receivership. But the challenge however is that the banks can’t run the firm because they don’t have operating license neither do they have the technical knowhow to do so.

But, the NCC appears not to be favourably disposed to the takeover proposal, the source said, as it believed that Etisalat is not only a viable going concern but also willing and able to negotiate the servicing of its loans.

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Etisalat has the option of running to NCC for help but informed sources say Etisalat has not been carrying them along. But the NCC sources say they are ready to protect the over 21million subscribers on the network.

Source http://thenationonlineng.net/etisalat-banks-talks-deadlocked-1-2b-debt/amp/#top

UnderstandingWhat is Network Marketing

Understanding What is Network Marketing Can mean the difference between failure and success

The term network marketing, also known as multi-level marketing or MLM, refers to a marketing strategy used by some companies to sell their products or services.

Essentially an existing product user signs up as a distributor. He/she then recruits other product users who also become sellers of company products to others. These recruits also recruit other product users to do the same.

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Each distributor earns a commission in his/her own right, much like the traditional sales agent. But the difference comes in when the distributor recruits other distributors into the business. This is where the network part comes into play.

Each distributor earns commission from personal sales plus from the sales made by distributors in his/her downline.

Let me illustrate the point.
Say you decide to start a home based business and multi-level marketing is your preferred vehicle.
You recruit Bob and Claire, Bob recruits Dennis, Emma and Fiona, and Claire recruits George and Hilton.

Bob and Claire are known as your first level, or frontline. Their recruits become your second level. These are Dennis, Emma, Fiona recruited by Bob and George and Hilton who were recruited by Hilton. Your second level will in turn recruit your third level.

There is no limit as to how deep your levels can go. For this reason, some companies limit the levels up to which you can receive compensation. For many companies, you can go as wide as you want. Depending on your company’s compensation plan, you can recruit as many first level members as you want.

Note that no matter when you start in MLM, you are always the start of a new business unit, your own. You become an independent business owner. There is no such thing as ‘get in on the ground floor’.

A large part of your money in network marketing comes from deeper levels in your organisation. Your success, as it were, will then depend to a large extend on how well you are prepared to help other people get what they want.

History

Network marketing dates back to the 1940’s.
One company in USA realised that it could increase its revenue by paying its existing network of product users to introduce other product users to its products. Since then it has developed into a multi billion dollar industry.

For the first time, individuals who would otherwise not be able to start a business were able to do so because an MLM business requires a small amount of initial capital.
What makes multi-level marketing an attractive alternative?

Low initial capital and high potential returns
You can start a million dollar business for less than $100. As your network expands, so does your income.

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You can start it as a part-time business
There is no need to quit your current job. If your business does not succeed you have the security of your current job.

You can build a residual income that has the potential to surpass your current earnings many fold.
It does not really matter what your current income is, you always have the potential to earn more than your current income level.

1. Financial freedom
Whatever your reasons are for getting into this business, the ultimate goal is the possibility of being financially free. Imagine not having to go to work again, not having to pay off any debt, and doing exactly what you want with your time.

Can be operated from home – perfect for mothers
No need to rent space or buy office buildings. Because you work as and when you want, you can schedule your activities around your family.
You own a business that needs no employees
No need to comply with any form of labour law.
In one sentence, network marketing offers you all the benefits of a traditional business without the headaches.
See also the five powerful reasons why network marketing is such a great business opportunity.

Cons
Association with illegal pyramid schemes
Illegal pyramid schemes have tried to mimic MLM, as a result many people still can’t tell the difference between the two. As a result next time you talk to someone about network marketing chances are that you will be asked something like this, "Is it not a pyramid scheme?"
Lack of adequate training
Most companies promise training, but this may mean you have to buy a lot of so-called training materials from the company.

Overheads
While overheads in multi-level marketing are minimal compared to traditional business, unless you see results quickly enough, this can be a cause of much discontent.
So back to the main question, "What is network marketing?".

It is simply a business opportunity for you, the individual, but a marketing strategy for companies. Understand this and you will be on your way to making money in this industry.

Note, however, that building a network marketing business is not as simple as some people may want you to believe. As you continue with your research some people may tell that you can build your business using only word of mouth. But the truth about network marketing is that you need to hone your marketing and selling skills if you want to succeed.

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20 Reasons Why Network Marketing Is The Business of the 21st Century

If you are new to business, and in particular network marketing then “welcome”. You are at the right place. We strongly believe that building a network marketing business is one of the smartest things you can do with your time and money in today’s economy.

In order for you to be really successful in network marketing, it is important to understand why you should even bother. The truth is that it takes time, effort and energy to build a business. Most people are quite comfortable with where they are, so why bother?

Below are the top 20 reasons why starting a network marketing business right now is one of the smartest things you can do, but first we must understand that we are now living in a new age. “The Information Age”.

What Are the Differences Between the Rich and the Poor?

A common question is: What is the difference between a rich man and a poor man?

Long ago, when this site was young, I reviewed Secrets of the Millionaire Mind by T. Harv Eker. Eker believes that we each possess a “financial blueprint,” an internal script that dictates how we relate to money. Our blueprints are created through lifelong exposure to money messages from the people around us. Unfortunately, Eker says, most of us have faulty blueprints that prevent us from building wealth.

In his book, Eker lists seventeen ways in which the financial blueprints of the rich differ from those of the poor and the middle-class. According to him:

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1. Rich people believe: “I create my life.” Poor people believe: “Life happens to me.”
2. Rich people play the money game to win. Poor people play the money game to not lose.
3. Rich people are committed to being rich. Poor people want to be rich.
4. Rich people think big. Poor people think small.
5. Rich people focus on opportunities. Poor people focus on obstacles.
6. Rich people admire other rich and successful people. Poor people resent rich and successful people.
7. Rich people associate with positive, successful people. Poor people associate with negative or unsuccessful people.
8. Rich people are willing to promote themselves and their value. Poor people think negatively about selling and promotion.
9. Rich people are bigger than their problems. Poor people are smaller than their problems.
10. Rich people are excellent receivers. Poor people are poor receivers.
11. Rich people choose to get paid based on results. Poor people choose to get paid based on time.
12. Rich people think “both.” Poor people think “either/or.”
13. Rich people focus on their net worth. Poor people focus on their working income.
14. Rich people manage their money well. Poor people mismanage their money well.
15. Rich people have their money work hard for them. Poor people work hard for their money.
16. Rich people act in spite of fear. Poor people let fear stop them.
17. Rich people constantly learn and grow. Poor people think they already know.

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Out of context, some of this advice seems glib and facile. In the book, however, Eker explains each point, demonstrating how successful people discard limiting beliefs while the unsuccessful succumb to them. This book was instrumental in changing my own attitudes toward life and money.

Recently, somebody pointed me to a similar book: The Top 10 Distinctions Between Millionaires and the Middle Class by Keith Cameron Smith. I haven’t had a chance to read this yet (it’s on my to-do list), but I glanced through some of it at Google books. Like Eker, Smith attempts to differentiate between the mindsets of the rich and the rest of us.

His 10 distinctions are:

1. Millionaires think long-term. The middle class thinks short-term.
2. Millionaires talk about ideas. The middle class talks about things and people.
3. Millionaires embrace change. The middle class is threatened by change.
4. Millionaires take calculated risks. The middle class is afraid to take risks.
5. Millionaires continually learn and grow. The middle class thinks learning ended with school.
6. Millionaires work for profits. The middle class works for wages.
7. Millionaires believe they must be generous. The middle class believes it can’t afford to give.
8. Millionaires have multiple sources of income. The middle class has only one or two.
9. Millionaires focus on increasing their wealth. The middle class focuses on increasing its paychecks.
10. Millionaires ask themselves empowering questions. Middle-class people ask themselves disempowering questions.

Some of the items on Smith’s list seem to be derived from Eker’s philosophy. But although there are similarities, Eker’s list gives me warm fuzzies and Smith’s list does not. I’ve spent some time trying to figure out why.

Maybe the difference is this: From my experience (and your experience may be different), Eker’s many distinctions hold true (at least in the U.S.). I’ve seen the differences he describes in my own life. But I’m not convinced that the differences Smith lists do hold up.

I know lots of people who talk about ideas rather than things and people, for instance, and I know many folks who embrace change. Many of my friends are continually learning, but they’re not millionaires. And haven’t we seen statistics that show, based on a percentage of income, poor people give more than the rich do? I’m not ready to dismiss Smith’s list outright — I need to read his book to see how he supports his claims — but my initial reaction to his list is skepticism.

But I think both authors are too quick to dismiss systemic causes of poverty. And perhaps neither of them has ever actually been poor. Some of their criticisms make sense, but some are grounded in a mindset of wealth. “Rich people act in spite of fear,” Eker writes. “Poor people let fear stop them.” Why is that? Could it be that the rich can act in spite of fear because they have a safety net?

There’s no question that wealth brings opportunities, both in the U.S. and in other countries. Those with money have more choices. The rich can take risks, and they’re often rewarded for taking them. (Thus, “the rich get richer”.) I have so many more options now than I ever did when I was a boy, when my family was poor. I’m one of the lucky ones who has managed to make good. Yes, a lot of that was through hard work, but there’s no question that I’ve been lucky. And I think this element of “luck” is something that both Eker and Smith miss.

There are differences between the mindsets of the rich and the poor, of this I’m sure. But I think they’re closer to Eker’s list than to Smith’s. (And, really, they’re probably closer yet to the attitudes described in The Millionaire Next Door.

What do you think? From your experience, what are the differences between the rich and the poor? How do the rich think differently? What behaviors to the poor and the middle-class have that the rich do not? Or is it even possible to create distinctions like this? Does it all just come down to luck?

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Note: I think Eker and Smith are talking about the rich and the poor in the U.S. Globally, the differences between the rich and the poor are myriad and complex. Don’t get me started about the long-lasting effects of European colonialism…

source: http://www.getrichslowly.org/blog/2011/11/01/what-are-the-differences-between-the-rich-and-the-poor/

WHY TEAM WORK IS NECESSARY IN NETWORK MARKETING

How to teamwork for Network Marketing Success?

Here is a little story about a brief description of how team works, taken from the Book of Daniel Colombo, Opening Paths.
Cooperation:

One morning on a beautiful spring like day a disciple asked his master:
- What is the difference between heaven and hell?
His Master replied:

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- Hell is a place where there is big plantation of rice and people can only eat it with a 3 meters length spoon, they have the food but they are starving because spoons are so large that they cannot feed themselves.
The disciple then asked,

- So then how is it in heaven?

- it’s pretty much the same, they have rice and 3 meter length spoons, the difference is that they don’t try to feed themselves, they feed each other at reach.

Success in Network Marketing or MLM depends a lot on team work and cooperation. Teamwork is a skill that is not easily understood, we all know what it is but we don't necessarily know how to use it or when it's appropriate to use it. Network Marketing has its foundation in building Trust and relationships with each other in the organization, that implies that we must cooperate in some ways to help the group and specially others where we see they have weaknesses.

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It is human nature to be selfish, it is also a habit not to ask for help and accept the fact that we don’t have all the answers and that is exactly where the concept of teamwork in MLM must take place. We must help each other be successful. Each of us has developed certain skills and capabilities over time but we don't have all of what is required to be successful in the beginning so we must work together to compensate and complement weaknesses with skills and capabilities from other members in the organization.
It has been said many times that network marketing is by far the best of all businesses schemes available for the average person to succeed, however the success over failure ratio is less than 5 % so why is that? One good reason is because we do not work as a team nor we don't want to team with other people, and that my friend goes against the most significant and misunderstood value in Multilevel marketing industry: TRUST. If you don't trust in yourself, you are going to fail, if you don't trust your upline, you are going to fail. If you don't trust your downline, you and them are going to fail.

It takes a leader to find another leader, but it takes a team to build an MLM organization with a successful story!.

Team Up is a personal choice; Team Up is about working together to succeed as a group. Team Up is about sharing knowledge. It's about creating a network of people with values . Team Up is about teamwork 100%.
Team Up for your success!

If you have more stories that educate and teach values for network marketing and you want to share them, please leave a comment.

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