Today, I want to educate you about MLM Prospects. If you are trying to build your network marketing business, you need leads that you can turn into prospects and prospects that you can convert into customers and/or distributors.
Most distributors are taught that everyone is a potential prospect for their business. When I first joined this industry in 2002, I thought the same thing. Boy was I wrong.
You see, not everyone you talk to is a MLM Prospect; especially the people in your warm market. Most of these folks simply aren’t looking for a business opportunity or a chance to use your product line. You might sponsor a few of these folks, or find a few customers, but most of your warm market will tell you NO.
Most people are suspects, not prospects.
- Actively Looking to Start a Home Business of Their Own
- Actively Looking for a Network Marketing Company to Join
- Actively Looking for Distributor Who Sells Your Company’s Product Line
- Would Benefit From Using Your Product Line
- People with a Big Burning Desire to Improve Their Life
And ultimately, you want people who CONTACT YOU about what YOU have to offer, rather than the other way around. It’s much more enjoyable to work with people who call you first than it is to cold call or pitch people. Trust me.
But how do you this? My goal is to explain it in greater detail below.
Who Are Your Best MLM Prospects?
If you’re looking for people to build a network marketing business of their own, the last people you want to approach are unemployed, destitute, broke, job-oriented people. Sure, a few of these folks might be interested in learning more about what you have to offer, but most won’t.
I’m not knocking these folks. I’ve been there before. Most of them are just not qualified or interested in having their own business. Yes, they might need the extra money, but most of them do not want a commissioned based pay or something that have to work hard at (even part time) for a few years to make good money. What they really need and want is a job, not a business. So, if you approach any of these folks, make sure it’s about the products, not the business.
Ultimately, you want people who have experience owning their own business. Entrepreneurs are a unique breed. They understand merit based pay and they are seldom skeptical of new money making ideas. They are used to working long hours, investing money into a business, producing results, making sales, and working hard. Many of them are also tired, burnt out and looking for a Plan B.
Another good type of network marketing prospect is sales professionals: people used to getting paid on commission. This could include realtors, accountants, insurance agents, etc. Once again, these folks are accustomed to getting paid off their results, so they are familiar with commission based pay plans, and they normally like these type of plans.
Another good type of MLM Prospect is other network marketers. Many network marketers are unhappy with their current company and are looking for a new company to join (or a new mentor to work with).
I’m not recommending you try to take network marketers away from another company, but if an unhappy distributor from another company shows interest in working with you, you should sponsor them. What makes them a good prospect is that they are already trained and sold on the idea of network marketing.
If I were you, I’d also keep an eye open for anyone who has achieved major success in life. Look for people who have done something great such as: sports, writing a book, running a marathon, etc. Many of these folks are naturally doers and are goal oriented people. They would make a great MLM Prospect.
You should also keep an eye out for people who have a big, burning desire to change their life. Maybe they are just sick and tired of being sick and tired and are ready to take control of their life and create financial independence.
Finally, your best MLM Prospects are your HAPPY RETAIL CUSTOMERS. If you can get people using the products, and they fall in love with the products, many of these folks will want to eventually join the business opportunity and promote it. Never forget that. Focus on getting happy customers first and your business is sure to grow.
Where Do You find MLM Prospects?
My immediate answer to this question is to develop a game plan! It definitely won’t happen by accident. There are literally hundreds of ways to generate leads and meet new people. At the end of the day, you have to find something that works for you, that you are good at, and enjoy, and then take massive action.
Ultimately, you need a daily action plan that you can follow. It could include working your warm market, prospecting strangers, buying leads, advertising in newspapers, attending events, creating a blog or anything else.
Sure, you can talk to the people you meet and get referrals through your warm market. That is a great starting point. But for most folks it’s not a very good long-term strategy. Once you run through your warm market, then what?
That’s why you need a marketing plan or daily action plan. I generate all of my leads online through this blog. You don’t have to follow my strategy, but you definitely need your own strategy.
Here’s a few different ideas to find more prospects for your business.
- Trade Shows
- Job Fairs
- Newspaper Classifieds
- Home Parties
- YouTube Channel
- Prospecting Strangers via the Three Foot Rule
- Cold Calling
I highly suggest you read by blog post with 20 different prospecting ideas. That should give you plenty of good ideas.
Prospecting Success Formula
Here is my formula for success when it comes to finding prospects.
- Create your daily action plan and strategy
- Work your plan every day for at least 30 to 60 minutes, no exceptions
- Make adjustments to your daily action plan as you learn, improve, and grow
- Never quit!
I know my formula for success seems pretty simple and basic. That’s the way it should be!
These are best tips on who are your best MLM Prospects and where to find them. If you want to reach any level of success in your network marketing business, you need a constant flow of leads to share your products and business opportunity with.
Learning how to prospect, and get leads, is without a doubt the single most important skill that you can develop in your network marketing business. Once you have steady flow of leads you will never run out of people to talk with.
What are your thoughts? What do you do to meet prospects? Who do you think is an ideal prospect? Leave a comment below to share your thoughts. I look forward to hearing from you.
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Charles (Chuck) Holmes
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