MKS-21: WANTED-Men/Women 50+ to Launch New Retirement Solution*

What are the 7 things people will pay for in a business you start? What are people are willing to pay you for when you start your retirement?

What are people are willing to pay you for when you start yournew career?

What are people willing to pay for anytime?

It’s a great question to not only ask before you attempt to add an extra income stream to your life or go into business for yourself, but it’s also something you’ll likely ask every single week/month that you operate your business.

Let’s explore.

From what I can tell so far (after 30+ years in business and in online business), there are really only 7 things people will pay for:

People pay for more — more security, admiration, time, money, escape, pleasure, and passion.

You may notice that “health” is not even on this list. You’ll see why shortly, but please note this: I tried to keep asking “why” at each level I got to with this list.

When we can understand the deeper “why’s” a person has, without the person themselves even understanding them, we can create products that not only appeal to our clients but actually speak to them.

Have you ever discovered a TV show, book, product, or article that seemed to be speaking directly to you?

I’d bet it was doing so because it was addressing a deep “why” that you yourself had not labeled or understood yet.

I’ve been thinking about people’s real needs and motivations during my quest to demolish my old business model and come up with a new one. I knew that if I was starting from scratch, I needed to revisit the question I encourage all freelancers, infopreneurs, and coaches to start with after they come to an understanding of what they’re passionate about. The question I ask before my 1-on-1 calls:

What will your business model be? How will you monetize?

Which in a deeper sense can always be driven by the real question we’re talking about today:

What are people willing to pay for?

And if you can think of this question and people’s motivations creatively, you can come up with better products than your competitors offer. And/or, you can come up with better ways to explain your products, which will typically mean better sales.

1. Humans pay for more . . . SECURITY.

Ahh, Maslow and his super smart hierarchy of needs. It comes into play in the “what will people pay for” question as well. People will pay for security such as:

• housing
• a place to feel safe
• insurance
• ways to advance/impress at your job to keep your position secure
• lawyers to work out contracts and agreements to keep your property safe

Etc. What types of security (think far outside of the norm here) does your ideal customer seek?

• Humans pay for more . . . ADMIRATION, ACCEPTANCE, or APPROVAL.

Humans need to belong. We seem to have a deep need to be a part of units/communities and to be accepted, approved of, and then (if we can manage it), even admired. I’m sure there’s some really smart psychology to it that I could cite, but instead, let me translate it into what it means for brands selling online.

2. People will pay for admiration, acceptance, and approval in the form of:

• beauty products
• clubs, interest groups, or teams (like the adult volleyball league I payed to join)
• charity—even if it’s not publicly known what someone gave to charity, they might pay actual money to at the very least admire themselves and approve of themselves even more
• nice clothes
• new music or entertainment to be “in the know” and able to converse on popular culture

. . . and so on. In your niche, are there any noticeable ways that your audience members seek admiration, acceptance, or approval? How can you provide for that need or cater to that desire through your products?

3. Humans pay for more TIME (and the QUALITY OF IT, and really just, FREEDOM).

People will pay for time, almost more than anything, because it is the main force that comes down on all of us, whether wealthy or struggling, whether happy or sad, whether this or that . . . we all operate with time constraints. Thus, people are motivated to pay for anything that “creates” more time or increases the quality of the time they have:

• hacks and tricks that allow you to do things faster
• assistance from other people that relieve you of some of your duties
• technology that can do things for you
• health knowledge or products that give you more time to do what you love with the people you love (because with greater health comes fewer sick days and more comfort/abilities when gathered with people you care about)
• products that allow for true multi-tasking (ex: a course that your client can listen to as an audio file while they take the train to work)

Etc. How can you get creative with giving your audience more time?

4. Humans pay for more . . . MONEY.

Whether . . .

• investments plus a smart person to invest our money, or
• learning how to make more money, or
• learning how to make money out of things we already have or could obtain (a rental house, a home gardening course, a car that we only drive once a week, a collection of stuff we could sell on eBay or Craigslist, etc.)

. . . we can often be motivated to “spend money to make money” or to spend money to learn how to make money.

5. Humans pay for more . . . ESCAPE (or RELIEF OF REGULAR DUTIES).

We can (most likely) easily be persuaded to spend money on:

• a babysitter
• an app to entertain the kids for a while
• movie night
• a book that transports us into a different world
• a vacation

Etc.

6. Humans pay for more . . . PLEASURE.

Raise your hand if you’ve ever paid for (or reallllly wanted to pay for):

• a massage
• fancy food you don’t need
• a bougie hotel (my hand is raised — I like fancy or fun boutique hotels — it has become a serious problem in recent yers)
• a scented candle you don’t need
• etc.

Are there any products or services you can offer that can complement or provide more epic moments for your audience? For example, you may coach athletes on mindset, but can you do so as a retreat in a tropical place with delicious smoothie bowls for breakfast each morning?

7. Humans pay for more . . . chances to exercise their PASSION.

Even if they have no intention of making money from their passion, or no idea how one would even monetize the thing they love so much, humans will still pay to be able to practice their passions. Think of things such as:

• creative writing courses
• golf, triathlons, and other sports that cost money to play or train in
• painting or pottery supplies
• calligraphy pens or classes
• a membership at a rock-climbing gym
• etc.

What is something you do that you don’t expect any monetary compensation for? What is something your audience member does simply because they love it?

I’d like to encourage you to re-read the lists above and with each one, think through what your specific brand (in your specific niche with your specific intended customers) can provide for money that applies to each of the categories.

Even if the ideas you come up with seem completely ridiculous, stretching your imagination in this way WILL help you think of ways to attract and serve your clients better.

Want an alternative to traditional small business?

Would You Join A Multi-Level Marketing Company For Retirement Income when it gives you everything people will pay for?

More than 10,000 baby boomers turn 65 each day and will continue to do so until the early 2030s. While they’re looking to stay as active and healthy as they can – and possibly even continue to work in their later years – they’re also starting to look ahead and research their housing options for the days …

 4 out of 10 adults over the age of 65 owned smartphones. While this number will continue to increase as the population ages up, it’s a strong indication that seniors spend more of their lives in an offline world.

Would You Join A Multi-Level Marketing Company For Retirement Income? Initially, that may sound like a bold statement, but it’s not if you understand retirement the way I do. The reality is, making a successful transition into retirement has more to do with psychology than with money… and the same may hold true for multi-level and network marketing.

Forbes author Robert Laura is very positive about the Network Marketing Industry: At some point in your life you’ve been pitched a multi-level marketing (MLM), direct selling, or network marketing business opportunity.

At some point in your life you’ve been pitched a multi-level marketing (MLM), direct selling, or network marketing business opportunity.  While the pitch varies from company to company, it basically promises a chance to ditch your 9-5 work schedule, be your own boss, and make lots of money while making new friends in the process.

It all sounds good on paper, yet there is a seemingly endless debate over whether these companies and programs are legitimate business opportunities or not, so I dug in and got the real scoop.  As a result, I believe that the entire industry is poised for explosive growth and can be one of the most significant solutions to America’s current retirement savings crisis.

Initially, that may sound like a bold statement, but it’s not if you understand retirement the way we do.  The reality is, making a successful transition into retirement has more to do with psychology than with money… and the same may hold true for multi-level and network marketing.

Don’t get me wrong, money has a role in retirement, but it’s not the primary one every one gives it.  Combine that concept with eye-opening statistics like AARP’s estimate that half of all baby boomers (76 million) are interested in starting a business and the makings of a massive trend are in place.

As far as the retirement saving crisis is concerned, more and more people are coming to terms with the fact that they probably aren’t going to be able to save enough money to just sit around and slowly deplete their nest egg from age 62 to 100.  So they turn to Network Marketing.

With the average 50 year-old estimated to have less than $50,000 in retirement savings, there is an obvious need to find alternative ways to either save more or generate supplemental income starting now, and continuing throughout retirement. 

Moving beyond just the dollars and cents, boomers are growing tired of feeling guilty or bad about their past savings habits and are interested in moving towards possible solutions.

Another growing reality that could benefit MLM and related businesses is the increasing number of baby boomers who are disenchanted with their current careers.  They’re worn-out from years of the corporate grind and don’t feel the connection between their job and the people it impacts outside their office walls or company grounds. 

They’re shifting their focus from accumulating a giant nest egg to a desire to be part of something bigger and better… to have a positive effect on others… and working in retirement.  Facets of life that can be fulfilled with specific types of products and service available through some MLM or Direct selling opportunities.

MLM and direct selling programs also offer very low barriers into entrepreneurship, often providing training, support, and ample encouragement along the way. 

As retirees begin to realize they need activities that keep them busy, relevant, in good health, and connected to others, the time, energy and cost to participate in these kinds of companies make them very appealing to large segments of the population caught up in these dynamics.

This is not a ringing endorsement for the entire industry.  Like any investment of time, money, and energy, people need to be aware of what they are getting into and do their homework. 

That’s the primary reasons I began researching the topic by reaching out to regular everyday people involved in these types of businesses and who were willing to skip the hype and offer a transparent view of the programs and give their opinions as to whether this can be a realistic source of retirement income.

I initially spoke to a retired friend who said she joined a health and beauty direct selling company as a means of meeting new people. She had recently remarried and moved to a new location, so she combined the practice of meeting new people with making extra money.  After almost a decade in the business, she’s built a small niche business with family and friends despite switching to from one company to another competitor after three years.

She admits she doesn’t attend all of the company’s local meetings and goal-setting sessions because she’s not interested in becoming a top producer.  She just likes to use the business activity to keep busy (particularly in the winter) and use the extra money she earns to travel and spoil the grand kids.

Having studied the psychology and behavior of boomers, this example represents a major shift in my thinking about the industry.  I no longer perceive these types of opportunities as money-making pyramid schemes. 

Instead, I now see it as a way to enhance many of the personal aspects of retirement that are rarely discussed let alone planned for, with the added benefit of supplementing other popular retirement income sources such as pension and social security.

Daria M. Brezinski Ph.D, a practicing psychologist and former marketing director for a multi-level marketing magazine, echoes these sentiments. 

“Many people don’t realize that multi-level marketing companies are successful because they help people satisfy a number of important human needs, including feeling significant, having connections, learning something new, and making a difference. 

I have heard people in network marketing say again and again, ‘I’m doing this because I’m meeting amazing people … making so many connections … and I feel so good about myself.’”

Dr. Brezinski’s point is well taken and easy to see practiced by popular network marketing companies. 

Many MLM and NM companies tout a three-to-five year plan to attain freedom and wealth, yet many of the people running company meetings have been in the business for five or ten years and still haven’t left their full-time job or landed on easy street.  “As it turns out,” Dr. Brezinski notes, “when other human needs are being met, the members and consultants don’t focus solely on the financial aspects.”

Continuing my interviews, I challenged three others who are in the business to be straightforward, and prove to me that the process really works.  What I found was good, consistent business advice applicable to any new business.

[A]: Lorene Hochstetler, from Ohio, recommends keeping your current job while slowly making the transition into MLM.  She’s been able to replace her full-time income but explains, “It didn’t happen overnight, and I still work every day.  I am very disciplined with my business and wake up every day knowing what I have to do in order to succeed at this.  You have to treat it like a business and be willing to follow advice from others who have made it.”

[B]: Tracy Willard of California began her MLM career out of necessity.  “Prior to getting involved in my business, I told my friends to never let me join one of those things… but when our family was hit by the mortgage crisis I had to do something different.”  She started her business with the intention some retirees may also find themselves.  “I started with the idea that I just needed to make my month easier.  My company helped me figure out what I needed to do in order to make an extra $500 per month.”

She reiterated a common theme I heard throughout the interviews.  “If you treat it like a hobby it won’t pay you like a business.”  She also acknowledged that, in spite of her success, she doesn’t sit around eating bonbons every day waiting for residual checks to hit the mailbox.  “That’s a common misconception,” she said.  “I work hard at my business every day, although it doesn’t always feel like work.  Similar to other entrepreneurs who profit from their passion, she says “It’s rewarding because I found a product that has made in difference in how I look and feel… and I love selling it and helping other people start a business.”

[C]: Staci Cahill runs her MLM company in a way many people can appreciate.  She keeps her personal life separate from her business life by avoiding home parties, offering instead workshops that educate prospects on the products she offers.  “I didn’t want to be that person others hid from because they thought I was going to ask them to host a party.  I like to keep my business life and personal life separate.”

When I asked her if she was successful at her craft, she pointed out an MLM approach different from what many might expect.  “Yes, I am very successful given what I wanted to get out of it.  I’m a single mother who used to work 50 hours per week outside the home.  Now I’ve cut it to 20 hours, which is a major upgrade for me and my family.”

As a five-year veteran of MLM, she attributes her success to the fact that, “I switched companies a few years ago once I realized that pots and pans don’t change people lives.  The products I now offer has changed my life and that of others… and I find a lot of value in waking up and going to bed knowing that.”

The interviews and psychological connections lead me to conclude that MLM and NM companies, along with other small businesses opportunities, are important considerations for anyone entering retirement. 

In fact, I believe the concept of starting a business for retirement income will become one of the most significant trends impacting retirement in the 21st century.  But it has to start with redefining entrepreneurship and framing it into a retirement lifestyle.  That means helping people find ways to turn a passion, hobby, or personal desire into extra money in their pocket… not to mention helping people see the importance of  planning for the non-financial aspects of retirement such as replacing a work identity, staying relevant and connected, as well as keeping mentally and physically fit.

Something multi-level marketing as well as network marketing companies are poised to capitalize on.  As a result, the industry could soon experience larger than life growth, spurred by baby boomers looking to adjust their retirement feelings and plans.

While the pitch varies from company to company, it basically promises a chance to ditch your 9-5 work schedule, be your own boss, and make lots of money while making new friends in the process.

While there are plenty of men who join MLMs, 75% of all participants are women. But that doesn’t mean that if you’re a dude you don’t need to understand exactly how MLMs work, as there’s a chance your wife will one day come to you with the idea of joining one.

If You Would Join A Multi-Level Marketing Company For Retirement Income contact us.

Michael Kissinger andSydney Reitenbach

Phone: 415-678-9965

Email: mjkkissinger@yahoo.com

Michael Kissinger has over 30 years of experience in business and management industry. He was the Business Development Director for Swords to Plowshares and Vitenan Veterans of California

He received his BA from the University of San Francisco. He was an adjunct professor at Golden Gate University and San Francisco State University. He was Honorably Discharged from the US Army as a member of the 10th Special Forces.

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