Most successful Network Marketers know that to add front end income while building long term success, you must have an SLO (Self Liquidating Offer).
The goal of this article is to answer these Questions:
- “What is an SLO (Self Liquidating Offer)?”
- “Why Have an SLO?”
- Plus, “How can You Implement an SLO into your Business effectively?”
All very tangible questions and you about to discover the answers!
“What is an SLO (Self Liquidating Offer)?”
It’s actually quite simple. A self liquidating offer is simply something that you can offer up front for low cost to create up front income for your business.
Now this income is mainly to cover marketing costs and while you can profit, the main reason of an SLO is so that you can pay for your marketing and if done right, expand your marketing!
An SLO can come in many forms:
But basically its a Generic informational product (i.e. an eBook, Training Course, Personal Product, etc.) really anything that you can offer your prospects that is of value to their needs/ wants.
Usually an SLO will consist of an eBook that sells for $20-$40 and is attractive to your prospects.
Of course the lower the cost, the more attractive to your prospects.
A $20 SLO is better than a $40 SLO just because the lower the cost the easier it will be to sell.
An example of an SLO (Self Liquidating Offer) would be Mike Dillard’s “Magnetic Sponsoring”
When you initially purchase your own copy it will cost ~$40. Once you make this purchase you become an affiliate of the course and you are instantly able to refer others.
When someone you refer buys Magnetic Sponsoring you will get paid ~$20.
Your prospect benefits from incredible knowledge and skills – You benefit from a little boost in front-end income.
So now you may be wondering:
“Why have an SLO?”
Well from the above example you now know what an SLO is – Now I will tell you Why you need it!
You see, most people start online based on hype that they will make instant money with their MLM or Direct Sales business and the Compensation plan. Though soon most find that it doesn’t happen like that and making money requires A LOT more effort than just joining a business and telling people how “Cool” and “Revolutionary” it is.
With that said, those that utilize an SLO in their front end will begin to make money up front which will in turn allow for more marketing and you guessed it, more prospects!
With an up front income not only will it keep you excited about working online but it will cover most of your up front costs while you work towards that “Holy Grail” that is known as Residual Income.
So “Why have an SLO?”. It’s very simple, so that you can make money to cover the costs of your marketing, which allows you to market More, and ultimately will allow you to generate more leads, …