Hello to all my MLM friends out there.
I have spent a fair amount of time researching Lightyear Wireless and all the pros and cons of this telecom MLM company and opportunity.
As an avid MLM industry mentor and student, I have researched well over 250 of the top MLM companies in existence, comparing all manner of pay plans, products and services, as well as company growth and popularity.
My goal is to cut the fat and give you the skinny on what truly counts if you're considering joining Lightyear Wireless.
This Lightyear Wireless review will cover:
OVERVIEW
1) Company History
2) Products & Services
3) Business Opportunity
4) Pros & Cons
COMPANY HISTORY
Lightyear Wireless is a subsidiary of its parent company, Lightyear Network Solutions which was founded in 1993. The company was founded by Sherman Henderson and Josh Henderson. Sherman Henderson started the company with two simple philosophies; to provide a vehicle to help people create wealth, and to give the power of choice to the consumer. By 1999, Lightyear was ranked #19 on Inc.500's list of fastest growing companies. Lightyear was generating over $250 million dollars in annual gross revenue at the time with a customer base of over 250,000 people nationwide.
In 1997, Josh Henderson joined the Lightyear team. Josh successfully built out 2 independent sales channels that brought in over $100 million dollars in annual revenue. Josh left Lightyear in 2001 and joined forces with a billion dollar network marketing giant in the telecommunications industry. During his tenure there, Josh developed his skills in direct sales and network marketing. He eventually returned to Lightyear in 2003. Upon his return, Josh launched Lightyear Alliance, offering products and services with a MLM business model. Josh lead the effort with the vision of, "Empowering People's Lives by Showing Them A Better Way."
PRODUCTS & SERVICES
As a Lightyear Wireless distributor, you can now offer:
1) Cell Phones & Cell Phone Plans
2) Cable TV & Internet With Comcast, Time Warner, AT&T And More
3) Local & Long Distance Home Phone Service
4) Dish Network, Direct TV
5) Home Security
6) Travel Discounts
7) Energy Drinks
The list of available products, services and primary providers is quite impressive to say the least. Lightyear Wireless is its own company through and through. Customers are billed directly by Lightyear Wireless, NOT the primary provider (i.e. Verizon). Lightyear Wireless owns over $70 million dollars worth of equipment designed for the wireless industry, all of which is housed in their 80,000 square foot facility.
Lightyear Wireless is not a MVNO (Mobile Virtual Network Operator). A MVNO is a company that does NOT have the infrastructure required to provide wireless phone service independently but has the ability to piggy back on the shoulders of larger providers. Instead, Lightyear Wireless is a VPS (Verizon Partner Solutions). VPS allows companies like Lightyear Wireless to resell Verizon products and services under their own name with no quotas and stiff requirements in order to maintain a contract with Verizon.
BUSINESS OPPORTUNITY
Lightyear Wireless distributors can create multiple income streams from a variety of sources including Fast Start Bonuses, Commissions, Overrides, Customer Acquistion Bonuses, and Residual Income on a wide range of products and services:
1) Fast Start Bonus - A Lightyear rep can earn anywhere from $100 to $295 depending on their promotion level or rank. This creates an incentive to sponsor and help others start their own Lightyear business.
2) CAB (Customer Acquisition Bonus) - Distributors can earn 1% to 10% of the total wireless usage of your own mobile bill as well as the usage of any customers you enroll into the program.
3) Lightyear reps can earn residual income on a wide array of services. The Lightyear Wireless compensation plan is a 3 x 8 matrix. In an ideal world, you simply sponsor 3 reps and teach them how to sponsor 3 reps etc. You get paid residual income on the total wireless usage of all customers and reps within your sales organization 8 levels deep. Residual commissions are anywhere from 1% to 4% depending on sales volume.
4) MyWirelessRep.com (Virtual Online Store Commissions) - For a monthly fee of $49, Lightyear Wireless reps can own their own virtual online store to promote wireless products and services. The virtual store is known as MyWirelessRep.com. Distributors can also earn overrides of $3 to $18 on all virtual store monthly fees collected throughout your entire organization.
Through hard work and perseverence, anyone can build a successful sales organization. But mind you, it does take a significant amount of effort and consistent daily action.
PROS AND CONS
I definitely think it's worth your time to consider the short tern and the long term possibilities when evaluating an MLM opportunity. If you have your sights set on being a full-time network marketer, you should take a close look at the pros and cons of the opportunity you're looking at. Here's my list of pros and cons to consider if you think Lightyear might be the right fit for you:
PROS
1) The wireless industry is an absolute giant with over $150 billion dollars in annual revenue based on products and services.
2) In the United States alone, wireless consumers spend in excess of $11 billion dollars per month.
3) Virtually EVERYONE owns a cell phone these days.
4) The customer base for wireless users continues to grow without any end in sight.
5) More and more people are signing up for service regardless of age. Senior citizens to small children are parading around with cell phones these days!
CONS
1) The wireless industry is EXTREMEMLY COMPETITIVE.
2) Verizon and AT&T spend hundreds of millions of dollars on advertising campaigns to creep into the minds of potential and existing customers, buying brain cells and creating massive brand loyalty. This may make switching service a bit more of a struggle than you think. Although many Lightyear customers will be getting service through Verizon's network, the fact that "Lighyear" shows up on their bill as opposed to their current provider may raise some eyebrows and objections.
3) There's a new wireless company springing up everywhere you look. For $50 per month, you can sign up with Cricket or Boost mobile and get unlimited calling and texting. The deregulation of the wireless industry is reminiscent of the deregulation of the long distance industry back in the late 80's and early 90's. A MLM company by the name of Excel Communications came along and thousands of people signed up as distributors looking to create wealth. Excel created a legion of millionaires. However, the company was forced to restructure their business model as the competition grew more fierce and the margins for profit ultimately dwindled. My hopes is that the wireless industry doesn't suffer the same tragedy.
SUMMARY
After thorough research, I can honestly tell you that Lightyear is a phenomenal MLM opportunity and a great place to call home if you're jumping into the network marketing arena. At the same time, you will certainly need to invest your time into training and learning all the skills required to be successful including:
1) Product Training
2) Customer Acquisition
3) Marketing
4) Recruiting
5) Leadership
It doesn't matter what industry you get into, there's always an initial learning curve. Something I learned a long time ago is this, "Align yourself with someone who is already successful and has what you want. Then simply model them and do exactly as they do. Copy their actions, behaviors and habits for success."
As the great Aristotle once said, "We are what we repeatedly do. Excellence, therefore, is not an act but a habit."
Kai Pei Is A Master Internet Marketer Who Mentors MLM Superstars. To Learn How This Lightyear Wireless Review Can Help YOU Generate Rivers Of Leads & Profit And DOMINATE YOUR COMPETITION, Visit Kai Pei's Secret Lead System By Clicking Here Now: Lightyear Wireless Lead Magic
Article Source: EzineArticles Directory - Free Article Directory
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