Capital, money, cheddar, cash, bread, dough, loot and moola, do you want to make some? Are you willing to help your fiends and make money in the process?
Author, speaker and life coach Bob Proctor, released the book Contact Capital in 2008. Although the book is nine years old, it has some great advice when looking at network marketing. The concepts mentioned in this easy to read book should be taken advantage by anyone. The idea is to use the network you have built over the years.
There is money to be made and it is time we take advantage of what is in front of us. Recently on UsingYourPower.com, David Andrew Wiebe and I, talked about the pro’s and con’s of joining a network marketing group.
This book has many great points and you can put many of them in to practice even if you do not want to join a network marketing group. If you are an employee or business owner think of ways to have your friends buy from you rather than your competition. That’s the nature of contact capital.
Chapter 01 – What is Capital and How is it Changing?
- Tangible capital is real estate, stocks and bonds, gold, manufacturing facilities and money.
- Your contact capital consists of people you know personally or people you’re connected to through a community, such as a club, church, school.
Chapter 02 – Tangible vs. Intangible Capital and the Winner is…
- Tangible capital is making an interest on an investment
- Intangible capital is receiving recognition and endorsements from businesses.
- Coca-Cola is a great example of another lucrative type of intangible capital known as brand capital.
- As our world becomes more digital and more interconnected each day, intangible capital will continue to overtake tangible capital in both influence and income.
Chapter 03 – The E-Volution of Capitalism 3.0
- Capitalism, as we know it today, has only been around since 1776
- A few decades ago, a college degree would almost guarantee a nice, secure middle management job with perks and pension. NOT ANYMORE.
- The more hi-tech the world becomes, the more people will seek hi-touch experiences and encounters.
Chapter 04 – Facebook.com vs. Face-to-Face
- Google offered Mark Zuckerberg $1 billion for Facebook and he turned it down. Would you?
- Social networking is cyberspace’s version of local hangout or a break room at work.
- Nothing can take the place of face-to-face when it comes to important business protocols.
- Humans don’t want touch – they need touch.
- The e-world makes it even easier to withdraw from the real world.
- Contact capital means using hi-tech tools to arrange hi-touch meetings.
Chapter 05 – Welcome to the Age of the Entrepreneur
- Today more and more people are tapping into their entrepreneur roots and opening businesses in record numbers.
- Entrepreneur ownership means: Make more money, Have flexible hours, Pursue a lifelong dream, Determine your own destiny, Be your own boss, Choose your co-workers, Earn what your worth, Build a family legacy, Do well for yourself, Grow personally and professionally
Chapter 06 – Referral Marketing: The Best Vehicle for Converting Contact Capital into Cashflow
- Three Choices: Start-up Business, Franchise, Referral Marketing Business
- Franchising takes the guess-work out of operating a business, but successful franchises come at a price.
- Word-of-mouth is the best and most effective form of advertising ever invented.
- Referral marketing turns your contacts into cashflow by paying you for purchases made by your referrals of products and services that you use and enjoy and feel passionate about.
- Today all you require is a cell phone and the internet
- Someone, somewhere is going to turn your contacts into cashflow – so why shouldn’t that “someone” be you?
Chapter 07 – How Others Are Making Cash on Your Contacts
- 50% of people said they were “highly likely” to buy products or services based on work of mouth.
- Cold contacts are contacts in which the marketer has a customer history or a demographic interest in the target audience.
- Direct mail is only 1/50th as effective as network marketing, yet your contacts are buying stuff from them on a regular basis.
Chapter 08 – Endless Contacts
- Individual can contact any other individual in the world with just six phone calls or e-mails.
- Social networks – weather in the virtual world or the real world – offer shortcuts for expanding meaningful relationships with like-minded people.
- By cultivating relationships with individuals on someone else’s list, you open the door to converting their contacts to your contacts, giving you endless contacts.
Chapter 09 – Your Actions Speak So Loud I Can’t Hear What You’re Saying
- Five birds are sitting on a telephone wire and three of them decide to fly away. How many birds are left sitting on the wire?
- People buying and selling, producing and consuming – that’s what makes our economy strong and vibrant.
- Your contacts are buying products and services from someone – but unless you take action, it won’t be from you.
The book contact capital, is full of great advice, if you are looking to start your network marketing business. Today we have so many options to choose from, company such as Amway, Forever Living, Melaleuca, Avon, Herbal Life, Mary Kay and the list goes on.
The multi-level marketing industry would like you to make money and help the people you know do the same. In the end you must choose if this is the business model you would like to pursue to make income on the side.
Now its your turn to make a difference. Share the solution people are looking for on your favourite social media platform. It’s easy to do and a proven fact your inner circle wants to know what you know.
Leave a comment by telling us if you have ever belonged to a network marketing group? What was your experience?
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Don’t just imagine change. What if it was as easy as coming back every 30 days, rereading the article and applying the information. Start selling within your network and make more money.