What does it take to build a MLM Dynasty? That is a great question.
My definition of a MLM Dynasty is a network marketing organization that will continue to grow for many years to come, and produce a CONSTANT, PREDICTABLE income, with or without out (preferably without you).
After all, that is the ultimate goal of building a MLM Business: to have a walkway income that gives you the TIME and MONEY to support the lifestyle you want.
Now, this won’t just happen by accident. To be honest, few people ever build a MLM Dynasty. But the people who do have certain things in common.
They do certain things in a certain way. They are strategic about their business. They treat their business like they have a million dollars invested in it and they work their business consistently for five to ten YEARS.
How to Build a MLM Dynasty
In today’s post, I’m going to share four of my best tips on how to build your own MLM Dynasty. These are some things I’ve learned during the past 17-years.
# 1 Work with a Legacy Company
If you want to build a MLM Dynasty, you need to work with a legacy company. What does that mean? It means you need to work with a network marketing company that is positioned for long-term success. It must have proper funding, a sound leadership team and a good strategic plan.
There are hundreds of new ground floor opportunities that pop up every single day. Most of these companies don’t survive their first year, let a lone five years.
That’s why you need to partner with a good, stable, solid company. I would personally avoid start-ups, unless you have 100% confidence in the company’s leadership team. Look for companies with a proven track record.
The last thing you want to do is work hard for three to five years, only to have the company go out of business. Start with the right company, so you don’t have to start over.
# 2 Have a System That Doesn’t Require YOU to Run It
I learned this valuable lesson during my time in Amway. All successful businesses use a SYSTEM. The system is the solution. A system is a standardized, documented way of doing something.
If your business relies on you, you will either burn out or max out. If your business relies on other people, you will fail. Systems succeed and people fail.
You need a system that trains your team, develops leaders and helps your team members work on their personal growth. More importantly, the system must run without you.
Amway is the best example I can think of. Their teams have events, a CD of the week, meetings, books, business tools and support materials to train the reps. None of these things are run by one person.
The system does the heavy lifting. Everyone promotes the system and the system trains the people. That is what you want in your network marketing business.
Ideally, you want to find a company with a system already in place, so you don’t have to create your own system!
# 3 Develop Leaders in Depth
The ONLY way you will ever create a MLM Dynasty with the big, long-term money is if you find and develop leaders in your team.
One of the best lessons I’ve ever heard in this industry is this:
If you want walkaway income, you need to find and/or develop five leaders who will commit to working the business FULL-TIME for the next 10 to 30-years.
Otherwise, you will be one of those FIVE PEOPLE who never have walkaway income.
All of your coaching and training should revolve around developing leaders. You will quickly discover that most MLM Top Earners make most of their income from just 1 to 5 leaders. That’s it.
One of the most important parts of your system is your leadership development program.
# 4 Have an Event Driven Culture
You must realize that one of the greatest human needs is the need to belong to something and feel appreciated. If you can make people feel that way, many of them WILL stick around.
In addition to having a strong team culture, you need EVENTS. Network marketing is an event driven business. Events are what keeps everything together.
Your company, or upline success team, needs to have some type of big event every 90-days. This helps sell and resell people on the opportunity. It helps them build their belief, stay excited, improve their skills, and fellowship with other people in the company.
Without events, your team will NOT last. Events make you money and keep your team solidified!
How Long Does it Take to Build a MLM Dynasty?
This might just be the million dollar question. To be transparent, most people never achieve this level of success. However, some do.
After studying those successful people who do build MLM Dynasties, I believe that 10-years is a reasonable amount of time to build a MLM Dynasty. Of course, I cannot guarantee you will do that.
10-years with one network marketing company IF you have all of the things I mentioned above in place. You might be able to do it quicker than that, but this is a good goal to aim for.
In summary, these are my top four tips on how to build a MLM Dynasty. I truly believe that anyone can build a MLM Dynasty if they have a game-plan, a strong work ethic and relentless discipline. It also helps to work with a good company AND to have a good mentor.
What are your thoughts? What are your best tips on what it takes to build a MLM Dynasty? Leave a comment and let us know what you think. I look forward to hearing from you.