Michael Wiedder – CEO Shopping Sherlock Interview

  • June 20, 2012
  • By Team Business For Home
Michael Wiedder

 

Michael Wiedder, CEO and founder of Shopping Sherlock was a pioneer on the Internet having founded Online Expo in 1995. He lives in Santa Monica, California, USA and has one daughter Sarah.

Michael was at the forefront of the Internet explosion in 1994 and produced the Online Exposition in Los Angeles, San Francisco and New York attracting over 10,000 people per event. He helped launch some of the leading Internet technology and media companies at those events and is very active in the Internet community in Southern California  and The Silicon Valley.

Michael subsequently founded an online advertising agency, specializing in the franchise market and helped grow the franchise business for three leading International Brands.He has also been very active in the charity space. He publishes The Fundraising Journal which is a newsletter for non-profit fundraising professionals. The Journal has over 5,000 subscribers worldwide.

In addition, he recently created ActGivity, a platform for activity based fund raisers. Michael has been involved in various facets of the network marketing industry for many years.  He has provided the initial funding for three network marketing companies, consulted for several other Network Marketing CEO's, and is the CEO of Best In U and Shopping Sherlock.

Michael's goal is to create the leading worldwide, digital, Company in direct sales.He is providing representatives with the best products and tools in the market to help ensure their success in their technology home based businesses.

Ted Nuyten had the honor to interview Michael and review Shopping Sherlock.

Michael, who introduced you in the world of Network Marketing and what hooked you?

I was introduced to network marketing in late 1989.  I was running a computer training Company at the time and  a vendor of ours introduced me to  Direct sales. I understood the power of the model immediately and after many years running traditional businesses. have grown to appreciate the model even more. Having a lot of experience in the franchise space, I think giving people an opportunity to have their own business for a couple hundred dollars with the tools and training to build a global business and have the opportunity to make the kind of incomes that some people achieve in our industry is tremendous.

 
Shopping Sherlock

 

How did you got the Brain wave to start a digital MLM Company?

I have watched and researched the growth of the Industry over the last 25 years and I feel that as our society has transitioned to the information age, people around the world are open and excited about being able to use the Internet and technology to run their own home based business, We think there are a lot of people that are tired of constantly selling physical products and large monthly autoship requirements.

We believe that if people are given a simple, duplicatable product that has tremendous value and great tools to run and market their business they will be open and excited about the opportunity.

There is much discussion in the Direct Selling Industry about the best compensation plan, binary, uni level ect. Why did you choose your plan?

First of all as a digital Company, we don't have to usual costs that most direct sales Company's have. Most company's have to mark their product up 700% to make their plans work and than they end up paying out commissions on 70% of the wholesale price, the BV to CV formula. Because we are a digital Company and don't have to deal with manufacturing, packaging, shipping, warehousing, tariffs and other costs, we are able to pay out on 100% of the product price and we can expand internationally without the restrictions and costs a physical product Company would incur.

We have a binary plan with generational bonuses which gives people an opportunity to match incomes on many more people than any matching plan in the industry. We also pay back end commissions as people save money on products and services that they search for and buy.. Our product finds them the best prices immediately as they shop and can save people and families thousands of dollars each and every year.

 

Shopping Sherlock Review
 
Where differentiates Shopping Sherlock from other Company's?
 
The thing that was attractive to us was the simplicity of the program. When I talked to some of the leaders in the Company and even people that had left and wanted to come back, they all said the same thing. They had never seen a program that was this simple. You give away a product that saves people time and money and you make money as people benefit.
 
The average active rep in the Company has over 26 customers. Also at 34.95 a month for their monthly subscription, the reps also get their own private social network, where our leaders share tips, files, info and support in helping people build a successful business and they get their own marketing system. The marketing system includes landing pages, videos, real time lead notification, an auto responder with pre-written messages and a calendar system so they can plan their days, weeks and months and follow-up with people  We are also about to launch a social media platform for the reps, giving them their own blogs and integrating their social media accounts.

We are making it completely turn key and even helping to push content through their blogs for them. Those tools are all included for $34.95 a month. I believe these tools are the best in the industry and they are helping people build their businesses, but the message will always stay simple and duplicatable. Its about giving away a product that helps people save money.

One of the things that I have learned in my experience in financing and running network marketing Company's is that you can have a great product and comp plan, but the key to success in our industry are the reps and field leadership. We already have some great field leadership in the Company and we will continue to strive to help provide an environment for our reps to grow and succeed  We will support, recognize and reward  our field leaders. I understand that they are the lifeblood and critical components to Shopping Sherlock's success and we are creating equity opportunities for our leaders.

Best In U
 
You have taken over the technology of a online shopping app, what are your plans?
 
We have refined the technology and are in the process of refiling our patent. We are bringing in additional partners to continue to build the back end income so that as our reps give the product away and people benefit their income opportunities grow. You will see these partnerships in the areas of daily deals, travel aggregators as well as some of the premium lead generation categories. Our value proposition and branding will always be around finding our customers the best prices available on products and services, but the previous management had just scratched the surface as to the possible partnerships and categories to help drive income opportunities for our distributors.
 
I am also very excited about the mobile opportunities for our product, both in saving people money as well as giving our reps an opportunity to profit from mobile transactions. These products are also great for small businesses and entrepreneurs and we will expand that market.
 
We will continue to expand our international footprint by opening additional countries and providing localization services and partnerships to help our International distributors have the best opportunities and tools to succeed. Because we are a digital Company, our opportunity is worldwide and we have just started our global outreach.The opportunity is still ground floor, but we have a solid infrastructure and administrative support to facilitate our growth and expansion.
 
Which countries do you consider as leading for Shopping Sherlock?
 
Because Internet penetration has increased so dramatically worldwide, I believe every Country is fertile ground for Shopping Sherlock. Saving money is something that people around the world are interested in. Being able to run a home based technology business by helping people save money is a very appealing business model and our price points are affordable worldwide.  When you combine that with the tools we give people to help them build their businesses and our compensation plan, I think we have created the best worldwide opportunity in Direct Sales.
 
What wishes, goals and plans do you have for the future?

My goal is to help make Shopping Sherlock the first billion dollar direct sales Company. When you look at the category leaders, Avon, the leading Cosmetic Company did over 11 Billion dollars in sales in 2011, with several other Cosmetic Company's over a billion in sales. Amway did about 11 billion dollars and Herbalife did over 3.5 billion.

I believe in the information age that we live in, there is an opportunity for a technology Company to be the next billion dollar Company and the leader in the digital category. Our goal is for Shopping Sherlock to be that Company. With that, we will be able to significantly impact and change the lives of many thousands of distributors and their families around the world.

In addition, we will continue to strive to create a great company culture and our charitable initiatives will help make a dramatic difference for those in need!

Contact details
 
www.shoppingsherlock.com

Best In U, Inc., Inc.
406 Broadway #450
Santa Monica Ca 90401

Phone Number  310-405-0011 
9:00 am to 5:00 pm PST
Monday through Friday

 

 

Get more information, facts and figures about Shopping Nation, click here for the Shopping Nation overview.

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