I watched a great YouTube video last night of a 7-figure MLM MONTHLY earner (the video has since been removed).
I have tremendous respect for this guy. He’s been with the same company over 20 years now and he is the number one earner in his company. What he did to become successful is absolutely amazing.
He’s personally sponsored hundreds of people through the years, probably thousands, and he worked his business 7-days a week, full time, for the first seven years, without taking a day off.
Not many people would be willing to do that.
He gave a speech at his company’s annual convention and shared his success formula. He talked about what YOU would need to do if you want to achieve the same level of success that he has achieved.
I found the training/speech very enlightening and helpful so I figured I would share the highlights of it with you in a blog post.
His four tips for success are in bold. After each tip I share my own two cents on it and elaborate on each point. I hope you find it as helpful as I did.
# 1 Approach five new contacts every single day
Whether you are working your network marketing business part-time or full-time, you need to contact new people every day.
I believe ANYONE and EVERYONE can prospect at least five new people a day, if they make the decision to do it. Most of us come in contact with at least 50-100 people per day without even realizing it.
If we would just step out of our comfort zone and say hello to some of these folks, we would have an endless source of new prospects. To be successful, you MUST approach at least five people per day.
Ultimately, you want to approach 10-30 new people each day, and take massive action, if you want to build your business quickly.
You can approach five new people by reaching out to people on Facebook, prospecting them in person, cold calling people, calling leads, having home parties, advertising, etc.
You just need to get creative and do what works for you.
I think the most effective thing to do is to look people in the eye and have a conversation with them.
You would probably get better results by talking with five people face to face than by sending out five thousand emails.
# 2 Sell five products daily
I’m guessing you hate to sell. Most people do. Oh well. You need to get over that.
If you are an entrepreneur of any kind, you are in sales.
You need to remember that we ultimately get paid to move the products. If no one buys the products, you earn nothing.
Every distributor in every company should personally have AT LEAST 10-20 retail customers that they service each month.
To get 10-20 loyal, repeat customers, you’ll probably have to find about 50 customers. It won’t happen overnight, but it’s a good goal to strive for. Aim for one new customer a week and you could find 52 new customers in a year.
Be a product of the product.
Keep a small inventory with you at all times so you can make an immediate sale when people want to make an impulse purchase.
What would your team look like if every distributor had 10-20 active retail customers? Your volume would go through the roof and more people on your team would be making money. This is often one of the most overlooked things in our industry.
# 3 Sponsor five people a week
Sponsoring five people per week sounds like a huge task, especially if you’ve never sponsored more than one or two distributors in a month.
Keep in mind, it is possible. You just have to take massive action and work the numbers.
If you are talking to a large pool of new prospects every single day, you should consistently be sponsoring new people.
Most people in our industry don’t even share the business with one person a month, let alone five to ten people a day. This is a numbers game. It always has been and always will be.
You’re going to have to work through a bigger pool of numbers in a quicker amount of time if you want to step up your personal sponsoring.
# 4 Find five ways to grow your business daily
I love this tip.
We should all look for different things we can do to make more sales, find more prospects and close more people.
We should also look for ways to be more effective and more efficient. That being said, I think it’s best to focus mostly on one primary strategy until you have it mastered.
Spend 90% of your time on that one strategy, but by all means try different things with the other 10% of your time.
The biggest problem I see in our industry is people spreading themselves too thin. They try to do so many different strategies at once that they end up with information overload, feeling overwhelmed, and end up doing nothing.
To put things in perspective, I blog daily and do a podcast daily.
That’s my primary way of building my business.
But I also do some local prospecting, some direct mail, networking events, occasional videos, and other things with the remaining 10 percent of my time.
My suggestion is you spend 10 minutes per day brainstorming new things you can do to move your business forward. Keep a notebook with you at all times and write the ideas down.
You don’t have to implement them immediately, but you want to keep them written down in one place so you can refer back to them when needed.
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There you have it folks.
These are four tips I learned from a 7-figure MLM monthly earner on how to become a MLM Millionaire. This guy has been there and done that and knows what he is talking about.
What do you think? Are these goals doable for most serious people? Why or why not? Leave a comment below to share your thoughts. I look forward to hearing from you.