Niche Markets FAQs Part 1 of 2: Basics

This is the 4th of a five-part Facebook Live series on topics related to business development and strategic planning.

Many of my clients are independent healthcare practice owners who have trouble growing their business in a healthy way. I find that practitioners often struggle to attract patients who fit their philosophy and goals. Not every customer is Ideal; some potential customers can actually take value away from your business.

The best way to attract the right customers—those who are interested in your services and eager to pay for the value you provide—is to focus on a Niche area. This is a specific set of services or products that meets the needs of your Ideal Customers and solves their unique problems.

Watch my Facebook Live video, where I discuss ways to increase the effectiveness of your business, and how to stand out in the marketplace. Or read a transcript (including bonus content!) below.

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Analysis of the Disclaimer from a Direct Sales Company

Direct Sales companies, also known as Multi-Level Marketing (MLM) and Network Marketing, are growing exponentially. (Check out a list with hundreds of MLMs around the world.)

But despite their popularity and far-reaching impact, the MLM business model is often predatory, unethical, and at times illegal.

In this post, I want to evaluate the Disclaimer of one MLM company to shed some light on how this model works, how these organizations view risk, and why you should proceed with caution.

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6 Versions of the 3 P’s as seen on CNBC’s “The Profit” with Marcus Lemonis

One of my favorite TV shows is “The Profit,” a CNBC production starring multi-millionaire entrepreneur Marcus Lemonis.

CNBC The Profit, The Profit with Marcus Lemonis, Marcus Lemonis, The Profit TV show
CNBC The Profit with Marcus Lemonis

In each episode, Marcus evaluates a small business and decides whether to invest in its growth. The main tool he uses to make business decisions is called the “3 P’s of Business Success”: People, Process, and Product.

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Marcus Lemonis – People Process Profit

I was curious about who first developed this concept. Was it Mr. Lemonis?

It turns out this concept has its origins in Lean (a systematic processing method used to eliminate waste). After doing some research, I discovered 5 additional versions that can add depth to your understanding of how to run a successful business.

In this post, you will see each of the six examples and illustrations, along with ideas on how to increase your level of business risk intelligence.

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Examples of the Sneaky Promises MLMs Use to Attract New Reps

Multi-Level Marketing (MLM) and direct marketing are very popular. The rate of growth of direct sales companies is staggering, especially in the healthcare industry.

Unfortunately, the MLM business model is predatory and takes advantage of people who are in vulnerable situations. Health and Wellness products sold by MLM companies are often unregulated, overpriced, and exaggerate the results.

In this post, you will see why MLM companies take advantage of our basic human needs, and actual statements they use to influence unsuspecting people into signing up.

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Which Titles to Use if You’re an MLM or Direct Sales Rep

We use job titles to communicate our knowledge and expertise.

A job title conveys who we are, what we do, and how we do it… summed up in a few words.

I have noticed a trend in the MLM and Direct Sales community, where reps portray themselves using inaccurate or even deceptive titles. This can be especially destructive in the healthcare industry, because unsuspecting patients are tricked into believing the MLM rep is a qualified healthcare provider.

Sure, it can be fun to design an attention-grabbing title that sets you apart from the crowd (I use the title Strategic Risk Expert); but when it goes too far, your potential customers may be confused at best… and be harmed at worst.

When MLM reps use deceptive titles to diagnose, recommend, or provide medical care, it can result in broken trust, lawsuits, damage… and even death.

In this post, you’ll read a list of titles that are Accurate, Ambiguous, terms that Misrepresent, and some are just plain Ridiculous for MLM reps to use.

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199 (Potentially Dangerous) Titles Used by MLM and Direct Sales Reps

Multi-Level Marketing (MLM) products are everywhere. They are particularly common in the healthcare industry.

While some products may provide some relief when used properly, I believe the biggest problem created by the MLM industry is their blatant misuse and disregard for job titles.

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11 Ways Multi-Level Marketing is Like a Cult

We have the power to exert tremendous influence on others.

Sometimes, people use this power to take advantage of those who are vulnerable by exerting tremendous control on their choices and behavior.

Today I want to share some insights about why Multi-Level Marketing companies operate exactly like a cult and how to build risk intelligence to keep yourself safe.

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Analyzing Profit Margins FAQs Part 1: Perceptions

Can our personal beliefs about money influence our company’s success?

How do our perceptions impact business decisions?

Why is the “Fake It Till You Make It” mindset dangerous?

I answer these questions—and much more—in my Live Facebook Video. Check out the recorded video here, or read the transcript below (including bonus content!)

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Company Culture FAQs Part 4 of 5

In part 4 of our series on Frequently Asked Questions about Company Culture, we discuss leadership transitions, decision-making, and why it’s important to make room for your staff to grieve.

Watch the recorded video here, or read below for bonus-filled content.

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Company Culture FAQs Part 1 of 5

What’s the purpose of reviewing your company culture?

Does social media impact a company’s culture?

I answer these questions—and much more—in my Live Facebook Video. Check out the recorded video here, or read the transcript below (including bonus content!)

Continue reading “Company Culture FAQs Part 1 of 5”