What is the future of Network Marketing? How will Coronavirus change the business? What does it mean to be a big time Network Marketing leader. It seems that there is no better person to answer these questions than Mr. Edward Ludbrook, entrepreneur and multi-million selling author. Rankingmlm.com had the honor to interview this legend and visioner of Network Marketing. As you would predict, the insights that Mr. Edward Ludbrook shared with us are priceless.
MR LUDBROOK, I THINK THAT YOU WILL AGREE WITH ME IF I SAY THAT SPORT IS BASED ON ONE THING: COMPETITION. FOLLOWING THAT LOGIC, WE CAN SAY THAT WORK IS BASED ON EFFECTIVENESS, FRIENDSHIP ON TRUST AND ADVERTISING ON HAPPINESS, FOR INSTANCE. HOW ABOUT NETWORK MARKETING? WHAT IS THE ONE THING THAT NETWORK MARKETING IS BASED ON?
Confidence. Network Marketing is based on the building and projection of confidence.
WHAT IS THE FUTURE OF NETWORK MARKETING? IN WHAT DIRECTION WILL IT EVOLVE? WHAT WILL IT LOOK LIKE IN TWENTY OR FIFTY YEARS? WILL TECHNOLOGY AFFECT THE INDUSTRY IN ANY WAY OR MAYBE THE ”HUMAN FACTOR”, HUMAN INTERACTIONS WILL ALWAYS BE THE MOST IMPORTANT THING?
In the thirty years I have been in this industry, technology has changed the business dramatically. I still remember the ‘distributor’ days when we literally picked up products and distributed them to customers.
Network Marketing power is in customer acquisition so people are the key. No tech will change this.
Network Marketing is at a key point in its history when it either evolves or slowly dies. Globally it is already dying with 20% drop over the last ten years. The international expansion, new product ideas and tech implementation drove the last growth wave in 1990s and 2000s, now it has to evolve.
I MUST ASK THE BIG UP-TO-DATE QUESTION: HOW WILL CORONAVIRUS CHANGE THE MLM WORLD? OR WILL IT CHANGE IT AT ALL IN A LONG TERM?
The virus will not impact the industry, the economic crisis hitting the middle class will. This will make customer sales harder yet recruiting will eventually become easier.
MR LUDBROOK, QUICK QUESTION: TOP FIVE ADJECTIVES USED TO DESCRIBE A BIG-TIME NETWORK MARKETING LEADER, SO CALLED „THE REAL DEAL”?
Competent, Organised, Empathic, Driven, Optimistic.
FOR OVER 25 YEARS AS A NETWORK MARKETING CONSULTANT, YOU HAVE WORKED WITH MANY CEOS. WITH WHICH OF THEM HAVE YOU HAD THE BEST COOPERATION AND WHY?
Whilst he wasn’t the global CEO, Ulf Oscarson was the CEO of Forever Living Scandinavia. He had a joy in his job and a willingness to pioneer new ideas with me to create a better system for people to operate. It is not surprising that a very small market like Scandinanvia [25million is tiny] has remained one of Forever’s leading countries for decades.
WILL YOU ALSO TELL US WHICH OF THEM YOU HAVE HAD THE WORST COOPERATION WITH?
I don’t talk about the worst cooperation. I had a nightmare in the months I worked for a crypto company. The CEO was appalling in every way.
Other than that I have always enjoyed working with organisations and have been fortunate to be able to choose who I worked with. My relationships with companies have lasted for many years so I am blessed.
HOW DO YOU GENERALLY CHOOSE THE PEOPLE YOU WANT TO WORK WITH? HOW ONE CAN EARN YOUR TRUST?
The first thing I do is to analyse their business model. If I don’t believe the business has logevity then I will find a reason to not work. I have probably declined 80% of all offers on this basis. I am very good at declining in a respectful way.
My trust is earned only through integrity; doing what you say you are doing.
MR LUDBROOK, WHAT IS THE BUSINEES FAILURE THAT YOU MOST CHERISH AND WHY?
I am blessed with few business failures yet the most standout would not be a Network Marketing failure. In 1994, my partners and I had just brought Tony Robbins, personal development speaker, to Europe for the first time as his agent. Whilst the event had gone very well, the politics, egos and mismangement were such that I refused to stay with people out of integrity so left the company to pursue my career as an expert in Network Marketing. I learnt many lessons and cherish it as it was the catalyst for my 25 years of self-employment.
IF YOU HAD THE SUPERABILITY TO SNAP YOUR FINGERS AND ERASE, CHANGE SOMETHING IN NETWORK MARKETING, WHAT WOULD IT BE?
The industry would evolve their systems to be based on a ‘Competent’ approach.
MR LUDBROOK, COULD YOU PLEASE TELL US ABOUT THE 100% SUCCESS INSTITUTE? HOW DOES IT HELP ENTREPRENEURS TO EXCEL?
Simply it teaches a 100% approach to network marketing. I call this High Performance Network Marketing as it dramatically increases productivity, reduces attrition and finally everyone who joins really can succeed.
COULD YOU ALSO TELL OUR READERS ABOUT THE „FIVE KEY CONCEPTS THAT WILL PROVIDE THE STRATEGIC FRAMEWORK FOR THE INDUSTRY TO BECOME MUCH LARGER AND MORE PROFESSIONAL”?
1. Problem-led marketing – finding those with the problems and solving them.
2. Discovery Sponsoring – sponsoring for discovery not results.
3. Competence Learning systems
4. Competence Coaching
5. Transparant statistics – showing how opportunities perform
YOU ARE THE AUTHOR OF „SHAKEOUT” AND SEVERAL OTHER BOOKS. ARE YOU PLANNING ON WRITING ANOTHER BOOK NOW?
I have two books planned this year. One on The Future of Crypto, the other is the next version of the Future of Network Marketing.
MR LUDBROOK, YOU HAVE BEEN AROUND FOR OVER 25 YEARS NOW. WHY DO YOU STILL DO WHAT YOU DO? WHY ARE YOU STILL SO HEAVILY INVOLVED IN NETWORK MARKETING?
Now its all about giving back to the industry to help them evolve onto the stage of industry growth. I have been working on it for years and I believe the industry will now take the next step.
See also our articles at https://rankingmlm.com/
You will also find interesting https://rankingmlm.com/network-marketing-taught-me-how-to-be-optimistic-interview-with-chriszel-fajardo/