Lightyear Wireless Review - All Hype Or All Good?
Hi to all my network marketing fans.
This Lightyear Wireless review has been compiled after extensive and exhaustive research to provide you with all the pros and cons of this wireless services MLM.
I have been involved in the MLM industry in the capacity of student as well as mentor. During my career, I have researched over 250 of the top network marketing organizations including extensive research on pay plans, products and services, popularity, growth, trends and other analytics.
My goas is simply to strip away the excess and bring you only the most pertinent information on what truly counts if you are considering joinng Lightyear Wireless.
In this Lightyear Wireless review, we're going to take a close look at:
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. Sherman Henderson is the founder and CEO. Sherman Henderson started the company with two simple philosophies; to give people an extraordinary opportunity to create wealth, and to offer choice to the end consumer. Lightyear Wireless was ranked #19 on Inc.500's fastest growing list of companies in 1999. 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. There, Josh acquired his chops in the network marketing arena and eventually returned to Lightyear in 2003 where he launched Lightyear Alliance, offering products and services through a network marketing business model. Josh's slogan has always been, "Empowering People's Lives by Showing Them A Better Way."
PRODUCTS & SERVICES
Lightyear Wireless distributors have the ability to 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. At the same time, Lightyear Wireless is its own company. Customers are billed directly by Lightyear Wireless, NOT the primary provider (i.e. Verizon). With over $70 million dollars in wireless equipment and an 80,000 square foot facility, Lightyear has proven they have the infrastructure to be a big contender in the wireless industry.
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 offers companies like Lightyear the capability of reselling Verizon products and services without having to attend to stiff quotas, requirements, and contracts.
BUSINESS OPPORTUNITY
A Lightyear Wireless distributor can create a variety of income streams from Fast Start Bonuses, Customer Acquisition Bonuses, Commissions & Overrides, and Residual Income on a variety of products and services:
1) Fast Start Bonus - Get paid anywhere from $100 to $295 depending on your rank for sponsoring a new distributor and helping someone you know start their very own Lightyear Wireless business.
2) CAB (Customer Acquisition Bonus) - Lightyear reps can earn anywhere from 1% to 10% of the their mobile bill as well as the total usage of any customer they personally sign up for Lightyear service.
3) Lightyear reps can earn residual income on a wide array of services. The Lightyear Wireless compensation plan is a 3 x 8 matrix. That simply means in an ideal world, you sponsor 3 and teach them how to sponsor 3 and so on. You get paid residual income on the total wireless usage of all customers and reps within your sales organization 8 levels deep. Residual payouts on wireless service ranges from 1% to 4%.
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. You can also earn residual income and overrides ranging from $3 to $18 throughout your entire organization on anyone who also opts to have their own virtual online store.
As with any MLM opportunity, it is ultimately up to the distributor to create their own success (with the help of their upline of course). It takes hard work and consistent action on a daily basis.
PROS AND CONS
Without question, it makes sense to consider the short term as well as the long term possibilities when analyzing a network marketing company and the overall opportunity. If you seriously considering joining Lightyear Wireless, you should consider the pros and cons before you jump in with both feet. 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 currently generates over $150 billion dollars in annual revenue.
2) In the United States alone, wireless consumers spend in excess of $11 billion dollars per month.
3) Everyone and their mom owns a cell phone in this day and age.
4) Wireless consumers are buying products and services with no 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 your customers are still getting their service through Verizon, the fact that their monthly bill displays "Lightyear" may be harder to overcome for some people than they think.
3) There are new and more competitive wireless companies springing up everywhere you turn. You can now get an unlimited calling and texting plan for only $50 per month through companies like Boost Mobile and Cricket. The deregulation of the wireless industry is very much like what happened witht the long distance industry in the 80's and 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. Excel eventually restructured their business model after fierce competition laid waste to profit margins. Ultimately, Excel's distributors lost all their residual earnings and paychecks. Hopefully, this doesn't happen with the wireless industry.
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
There's always a learning curve regardless of what industry you jump into. Here's what a mentor told me a long time ago, "Seek out someone who has already created the results you're looking for and model yourself after them. Seek them out and learn from their daily habits and their daily actions."
Aristotle, the great philosopher, once said, "We are what we repeatedly do. Excellence, therefore, is not an act but a habit."
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