I don’t know about you, but I love competitions. And I’ve found that a good, friendly competition can create HUGE momentum in your MLM Business.
If you already have a team of distributors, you should consider having monthly competitions in your business. For the people who are naturally competitive, this will give them an added incentive to go out there and build their business. And for the people sitting on the fence, this might be the added motivation they need to get off their butt and do something.
Here are a few things you could do:
- Give a bonus for anyone who sponsors someone, or so much per person sponsored
- Give a bonus for anyone who does a certain amount of retail sales
- Give a bonus for anyone who adds a certain amount of people to their team
- Give a bonus for anyone who advances in rank
From my personal experience, I can tell you that the best prizes are cash. Yes, other things work too, but I think that cash money is the best incentive, especially in this economy.
Also, you want your competitions to allow more than one winner. Don’t just reward the person who does the most. Set an objective and anyone who meets it or exceeds it wins a prize. This is how you will get maximum results in your competition.
Many top earners do this every month in their business, and as a result, their business keeps growing each and every month.
If you are thinking about having a competition with your MLM Team, here is what I would recommend you do:
- Set an objective – The first thing you need to do is set a clear objective for the competition. I suggest you do one objective per contest. As example objective would be “personally sponsor two new distributors in the month of March 2014.” You also want an objective that is reasonable, and not so far out in left field that no one can do it.
- Set a deadline – Your contest must have a clear deadline (and start time) so there is no confusion. An example would be “the deadline is March 31, 2014 at 23:59 eastern time.”
- Establish a prize – You need a good prize. Doing something cheap won’t go over very well with your team. I suggest cash prizes, free products, gift cards, business tools, or something of that nature. Cash is always king.
- Promote the contest – Once you are ready to launch your contest you need to contact everyone on your team and let them know about it. This includes your personally sponsored reps and downline distributors. It might be a good time to follow up with some of your hot prospects, to let them know about the contest, and see if they want to become a distributor and participate in the contest.
- Support everyone during the competition – Make sure that you support everyone during the competition. Send email updates to everyone on your team and let them know how people are doing in the contest. Provide feedback, answer questions and offer help.
- Pursue the contest yourself – As the leader of the team, you should participate in the contest yourself so you can set a good example for your team. Don’t just sit around and watch your team do all the work.
- Publish the results and give prizes – When the contest is finished, make sure you publish the results and give out the prizes as promised. Try to do so in a public setting (if possible).
- Do it again next month! – I suggest you do this EVERY month in your business and never stop. It’s a great way to create rapid momentum.
In summary, creating a competition within your MLM Team is a great way to grow your business. I highly suggest you do monthly competitions with your team. It won’t cost you much and the benefits you will reap from it will greatly outweigh the cost of the prizes.
What do you think about having competitions within your MLM Team? Leave a comment below to share your thoughts.