Got A Question?
Great. Take your time. Right here you’ll find all the information you need, and more, to make an informed decision.
One of the “hardest” parts of my job is answering all the questions I get from people. So I created this page with my answers to common questions, and now when people ask these or similar questions I can send a link.
If you received a link to this page please don’t feel like you were brushed off … I receive dozens of phone calls and e-mails a day with these types of questions. Having this page enables me to give much more consistent and thorough answers than I could if I addressed each of them individually. I generally reserve my phone time for coaching applicants and business members.
And remember, this page of FAQs can help you make a fully informed and educated decision — but don’t make the mistake of “Paralysis by Analysis”. As with any business, there are certain things you won’t fully understand until you actually do the work. So read up on it and then Get Started just like I did …
best wishes, Alison
“What’s Wealth Masters International?”
Wealth Masters International is a Financial Education Company.
Here’s an introductory video for Wealth Masters International. I was drawn to WMI because of the abundance of financial education I couldn’t access from anywhere else.
“Who’s Wealth Masters International for?”
Wealth Masters International is for anyone who has the need/interest and/or desire to become a successful work at home business owner by learning and providing others superior financial, health and wisdom education.
“What is Wealth Masters International’s mission?”
“Provide access to world-class education, tools, experts, experiences and opportunities that empower individuals to create success on their own terms and achieve true freedom in all areas of their lives. We will accomplish this while continuously improving and expanding our product base to deliver the finest in wealth, health and wisdom.”
“How easily can I cancel my account once I get started?”
There are no contracts in place. Members are free to quit and cancel their memberships at any time without penalty.
“Who is going to help and support me once I sign up?”
You will have a personal sponsor, and you will have unlimited access to the Wealth Masters International support community as long as you are a member. You will have unlimited access to all of our support mechanisms (including a robust and dynamic online forum) as well as professionally trained business coaches should your personal sponsor be out of reach.
Seen enough?
Do you want us to mentor you and your new business?
“Do I have to purchase any other products?”
It depends on your goals, you may be attracted to Wealth Masters International purely for the financial education and not from a business opportunity and that’s fine. There is a range of products, events and training that can assist you. However, if your goal is to earn higher commissions on your sales, the further you step up in the product line, the less commission you sacrifice and the more you earn.
“Who is going to help me with my business?”
It will be me, Alison Bova from Live Beyond Nine to Five. Not only do you have me as your personal sponsor, but you will have unlimited access to Wealth Masters International support as long as you are a member.
Oh, and an extensive online forum of your peers.Here is one forum as an example of the type of community you will be joining. Click here
At this stage, it is vital to point out that as an entrepreneur, you also have to develop certain skills such as self reliance, resilience and determination.
There is not a business environment on the planet where someone will “hold your hand” until you reach profitability. Having said that, the support in place for WMI members is unparalleled.
“How do I succeed at Wealth Masters International?”
By plugging in to the Wealth Masters International system and applying yourself 100% to the training and following the systems, formulas, and scripts presented in your marketing material. And this is key (you’d be amazed at how many people CANNOT stay focused and follow instructions).
Following instructions carefully, and the consistent application of the new skills you will learn are instrumental to your success (or otherwise). There is a huge amount of hard work and learning work to be done and you will have to be the one to do it.
This is not a “get rich quick” scheme. Like any other business, it requires a great deal of time to invest in learning and applying your skills to become a master. But rest assured, your teachers are the best in the business.
“How would I fail at Wealth Masters International?”
There are 4 traits in people I see which cause them to fail in this business. If you have a strong tendency toward one of these traits, you will be at risk of failing.
They are:
Insistence on “Getting-Rich-Quick” or “Easy-Money”. There is a major difference between a high-growth business opportunity that monetizes quickly and a get-rich-quick scheme. Your goal should be to invest your time, money, and resources into a business that generates earnings within a six-month time frame. Some CCP members earn money faster than that (and they are the exception) but be prepared to invest six months of solid learning backed up by consistent action.
Unwillingness to work hard and “do what it takes”. Unless you have extensive experience in internet marketing, this business will introduce you to a whole new world. There will be a new vocabulary, new skills, a new business model, and new ways of thinking to get a handle on. Learning and change is never easy but always rewarding. Your first 90 days in this business are critical and you will want to pour yourself into it 100%.
Lack of motivation or general laziness. These are difficult traits to overcome and no matter how excited you are right now, unless you have disciplined habits and are organized, you are at risk of fading away. I cannot stress this enough – IF YOU ARE LOOKING FOR AN EASY RIDE GO CALL A CAB.
Refusal to follow instructions. While creativity and improvisation are valuable business skills, there is no substitute for executing tried-and-true business systems, particularly when learning a new endeavor. There will plenty of room down the road to chart your own course but for the first six months you will need to do exactly what you are told. You must know what the rules are before you start to break them.
“I’m new to this industry, how can I judge whether a product line will help me reach my goals?”
Here is five factors to consider;
1. ‘High-end’ Products. Simply put, unless products or services have a sufficiently high price tag, there is no way to make a lot of money selling them. Most direct sales businesses have this most fundamental problem – it takes too long to generate substantial revenue because the underlying product is cheap and too many units have to be sold to make any profit.
2. A product that is unique and difficult to copy. Almost every day new companies spring out of nowhere which are simply copying other companies. Example: How many juices and vitamins have you seen on the market? How many times have you heard that something is “the greatest nutritional supplement”?
Of course, healthy living is important and most of the supplements out there are great, but does the world really need another vitamin? Are people crying out for another juice from a berry found deep in the Amazon? The reality is “no”, because the marketplace is flooded with this type of product.
And if you’re going to be representing a new-ish company selling nutritional products, you’ll be competing against companies which have been on the market for 50 or 60 years.
Everyone has heard of Amway. Amway has the biggest selling nutritional line in the world. If you’re going to be selling a new nutritional product, what are your chances of taking on and winning against Amway? They are already firmly established in the marketplace and the first one in always gets the lion’s share.
So you need to find a product that is unique and hard to copy. Because if it isn’t hard to copy, someone else will come along and try to replicate it very quickly.
3. A lucrative compensation plan. Of course, “lucrative” means different things to different people but the bottom line is that if you are going to be marketing a product for commission, you want to be earning a high commission upfront, as well as a residual income on the backend of your business.
Most compensation plans either have high upfront income and low residuals, or the other way round, with low upfront income and high residuals.
Why is this so important when searching for a home-based business?
When you start out in a new business, unless you have a great deal of capital behind you to “tide you over”, you will want to be able to make high upfront commissions because otherwise you will find it impossible to build momentum.
Most people starting a home-based business do so with the intention of supplementing their existing income initially, with the goal of building up to a full-time income, enabling them to leave their current employment or business.
But if all you’re making is tiny $100 commission checks along the way, it’s very difficult to accomplish this. You will run out of steam, and capital before you reach your goals.
Live Beyond Nine to Five has chosen Wealth Masters International as a partner company because they have products selling for USD1,995 upwards. This enables qualified consultants to earn commissions of USD1,000 and over per sale (depending on where they are positioned in the compensation plan). It is a compensation plan which pays consultants 50% of the retail price of the product upfront, and also pays a residual income.
The high upfront commissions will help you get off to a faster start and stay in the game whilst the residual commissions will help you retire.
4. A product which has a high demand in the market. Fairly self explanatory. The fastest way to go out of business is to try and sell a product that nobody wants to buy.
5.Low Overhead/No Inventory. A successful home-based business is not one where you have crates of products stuffed in your cupboards and you are having to make daily trips to the post-office. The products we sell are services and systems, not any sort of packaged goods. Any materials ship directly to your customers and there is never any inventory for you to worry about.
“Do I need to be ‘tech-savvy’ to be successful?”
Being tech savvy is not essential, but it most definitely helps. Many WMI members come into the business with little or no internet skills and web-marketing experience. And while this skill set is not a pre-requisite to your success, it is definitely a huge advantage. Understand that if you are not IT or web savvy, your learning curve will be far, far steeper. Over time if you apply yourself to the learning process and follow the WMI systems diligently you will naturally become much more tech-savvy than you likely already are.
WMI utilizes many sophisticated marketing techniques and algorithms but for the most part these processes are automated so you do not have to fully understand them all to use them. Think of it as “painting by numbers”. That said, as in any business, you will want to learn what it is that you are doing with WMI, how it works and why it works. This will enable you to expand and adapt your business in any way that you choose moving forward.
This knowledge will make you a better marketer and give you more credibility as a teacher and leader of others. The skills you will acquire in working your WMI are the “must-have” skills of today’s marketplace so any learning curve is to be embraced.
“How much time will I need to commit to WMI?”
Short answer: As much as possible. It takes time to learn, apply and master a new skill set. You must use your common sense here, and understand that there are no short cuts to build a profitable business. If you are thinking that you only have a few hours a week to devote to this business, and no capital to outsource, I will save you a lot of time, energy and money, and let you know now that this is probably not going to be appropriate for you.
The first 90 days are the most critical time for your business and I recommend you be prepared to devote at least 20+ hours a week during this time. The work can be broken into multiple daily shifts or concentrated into only a few days a week but the 20 hour threshold of focused energy is essential in the beginning.
“How much money will I need to commit to WMI?”
Similar to the previous question, the answer here largely hinges on how much money you want to make. Do not expect to show up with only a few hundred dollars to spend on marketing and then suddenly start raking in millions. Top earners spend tens of thousands of dollars a month to generate their hundred plus thousand dollars a month (we’ll cover Return on Investment more specifically in another question). Of course they did not start out at that level, and the great thing is that the exact same system the top earners are using is available to all team members. But as in any other business, working capital is a requirement of launching yourself successfully. You will not get something for nothing in any business.
Now, there have been several instances where people have started with only a USD1000 investment and used nothing but free marketing techniques to gradually build up. It can be done and we do not discourage any serious entrepreneur from approaching it this way. Just understand that it will definitely be a slower process, and be prepared to spend your first three months (at least) working hard with all revenues reinvested into marketing.
“What does a typical WMI workday look like?”
There are four fundamental responsibilities for a WMI marketer:
- Drive web traffic
- Support product sales
- Follow-up with new applicants and members
- Support your team
The first responsibility entails using both paid and free marketing tools to create exposure and leads via the internet. These activities run the gamut from developing pay-per-click ad campaigns to uploading video content. All of these activities are done from the computer in your own time.
The second task is primarily conducted on the phone. Some of your customers are about to spend significant amounts of money (up to USD20,000 with half of that going to you) so they will obviously want to speak to someone in person. Even with all of the automated WMI systems that deliver relevant information to customers, there is a level of comfort and trust that understandably, people need to feel before they spend that amount of money.
All business (online or off) is based on solid relationship building, and this business is no different. Many people enter into online businesses, and don’t feel that they have to pick up the phone and have a conversation with anyone. Not every aspect of business can be automated, and it is misguided to believe that the human element can be stripped out of the equation.
These calls last as long as it takes to establish a relationship with your new business partner, and with up to a USD10,000 commission as the payoff you would have to agree it is time well spent. Remember this is not “selling over the phone”. You will spend your time only dealing personally with people who have put up their hand to work with you, and there are a great many resources available for you to pass on to them, to educate them about the products.
You are not ‘cold calling’ the customer. You simply answer their questions, get a feel for what they are aspiring to, and discuss your personal experience with the products.
The third and fourth responsibilities both involve direct correspondence with WMI members, usually via e-mail and sometimes via phone. There are dozens of hours worth of archived and live training calls to teach you how to do this successfully.
In the first few months of your business you will spend the majority of your time learning the principles of search engine marketing, setting your system up, and marketing to drive traffic to build your pipeline (task 1). After you have started to make some sales, you will begin spending time on the phone (task 2). As your WMI team starts to build, your workload will include more support and coaching (tasks 3 and 4). Having established a team, you will spend the majority of your time on marketing and sales and coaching while the automated systems you have set up run themselves.
Seen enough?
Are you ready to begin?
“How can I be sure WMI is not a scam?”
First off, I am glad you are asking this question. There are plenty of vermin online who are quite happy to take your money and run without a backwards glance.
That said, everyone has their own innate level of skepticism, and for some no amount of evidence is enough. But approached with an open-mind, this list of facts can relieve these types of concerns. This list was compiled by a medical doctor who was at the time evaluating the WMI product for himself (he later joined and is a key member of the WMI community as moderator of the online forum).
=== Reasons Why WMI Is Not A Scam===
- WMI have clean records according to the Better Business Bureau (BBB).
- The company has never had a substantiated complaint according to the BBB.
- The company has never been investigated or sanctioned by the Federal Trade Commission (FTC).
- No actions by a State Attorney General have ever been taken against WMI, nor are there any pending investigations.
- WMI was incorporated in January 2005. 95% of businesses (and nearly 100% of illegitimate ones) do not pass the 3 year mark.
- Our compensation model is similar to those used in the Insurance, Real Estate, and Mortgage industries. Leaders who recruit and train new professionals receive a commission when members of their team make a sale. But the largest commission goes to the person who makes the sale. You are rewarded for your hard work.
“I have five hundred dollars to my name and nothing else. Should I invest it in WMI?”
First of all, put my response to this question in the “home truths” category. If it offends I apologize but I deal with enough chronically-broke people to have some fairly strong opinions on the subject.
Every situation is different but for almost anyone asking this question my off-the-cuff answer is a definite “no”. If you have only five hundred dollars to your name you probably need to spend it on rent, food, or a bus pass.
I want to be clear, there is a difference between someone who “only has five hundred dollars to spend” and someone who truly only has five hundred dollars. Many people claim they only have five hundred dollars to spend but have no problem spending 10% of it on the Season 3 DVD Box Set of “Lost”, or whatever their distraction of the day may be. But either way, if someone is truly broke or just broke-minded he/she is probably not in a place to run this or any other business. The important thing for that person to ask themselves is “How did I get here and where am I headed?”
For those that are simply broke-minded (you shall know them by their poor-mouthing) listen to me when I say that you need this. But not yet. First you need to detox from your fractured financial thinking, your addiction to credit, and your refusal to live within your means. Check out Dave Ramsey for more on this process.
And for those that are truly broke of course you shouldn’t buy WMI. You should save your money. That is what broke people should do, save what money they can get access to and try to be strategic about what they do with it. But being broke does not mean being broken. If you are a fighter and a hard-worker you will reach a place in the future when you do accumulate some money – maybe not riches but at least a small base to build from. And you need to be mentally prepared for what you will do then. This may not be the right time to get involved in WMI (by all means pay your rent first!) But when you are able to take action to ensure that your current situation does not become a cycle, WMI offers more opportunity to create a real business from limited resources than any other business opportunity I have seen.
Respectfully,
Kiora Rd, Miranda NSW 2228 Australia
Email Me Here: LiveBeyondNinetoFive@gmail.com
Meet Me Here: LiveBeyondNinetoFive.com/AboutAlly
Ask Me Here: LiveBeyondNinetoFive.com/FAQ