Michael Wiedder – CEO Shopping Sherlock Interview
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.
How did you got the Brain wave to start a digital MLM Company?
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.
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.
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!
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.