Tuesday, February 15, 2005

Pre-Paid Legal was my next venture.

Pre-Paid Legal was the next opportunity I discovered. I got started with Pre-Paid Legal shortly after I completed nursing school. During nursing school I was not looking for any opportunity other than the opportunity to graduate with my degree. However, after nursing school I heard about a gentleman that was excelling with his Pre-Paid Legal business. So I did what any motivated person would do. I searched him out and chased him down. I wanted to find if he was legitimate and see if he would give me the opportunity to get started in business with him. So I spoke with this Pre-Paid Legal guru; felt he was legit and got started in business right away. It was kind of funny, in nursing school I met someone who was actively working with Pre-Paid Legal. He was brand new with the business and I felt at the time, that it was not a marketable business. Of course after I found someone who was successful I changed my tune a little.

I got a quick start with Pre-Paid Legal. My first week I put out an employment ad and had 2 people sign up right away as associates. I quickly found out that my new mentor in the business was not focused on Pre-Paid Legal as much as he once was. At that time he spent more energy on his real estate ventures. I decided that I would teach myself what I needed to know since I did not have much upline support. I started cold calling from the phone book, this was miserably tough at first. I believe I made like 20 phone calls the first night and they were all hang ups. I put the phone down and I was very discouraged. Then I picked it back up and told myself, "If this phone is the only thing keeping me from becoming a millionaire then I would conquer the phone and started dialing again". Again I made another 15 calls, of course most of them were hang ups too. I quickly got discouraged and decided that I had to find a way to tell interested people about Pre-Paid Legal or I would never make any money. My wonderful girlfriend who had some telephone marketing experience helped me to develop a script to use in which I was giving away a free drawing to win $100.00 in groceries. This simple but unobtrusive script worked like a charm I was able to book an appointment with about 1 in every 4 people that I talked to on the phone. I got very excited about my Pre-Paid Legal business, however, I found that I spent a lot of time making appointments and more time actually going on the appointments. Once you broke it down, it was not worth the $75.00 commission that I earned at the time. Sure with the Pre-Paid Legal pay plan, down the road the business could become very profitable. One thing that I have found out about MLM/Network Marketing businesses is that they appear very profitable with very complex pay plans. However, it always takes a little time before you can develop a full time income because you are partly depending on other people's efforts. Let's face it many people get started in these low cost businesses chasing a "fast" dream. Usually after 30 to 60 days their dream is fast over and to be successful you are always racing against your drop out rate. Pre-Paid Legal really was no different. I am not saying that Pre-Paid Legal is a bad business because I am certain there are many successful business owners in Pre-Paid Legal. I just felt that there had to be a better business model out there for me. So I left that business, however, I really like their product and still use/own it today. Off I went looking for another business venture that would suit me.
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