Today, I want to share some key takeaways from Building Your Network Marketing Business by Jim Rohn. This is one of my favorite MLM Training Programs of all time. It’s an audio CD you can order online, and there’s even a YouTube video of it. This is NOT a transcription of the audio, just the notes I took when listening to it. Enjoy!
Key Lessons from Building Your Network Marketing Business
Each lesson is in bold and italics. After each lesson, I will share my own two cents.
# 1: Unless you have a philosophy that drives you, the products, company, and compensation plan do not matter.
You need to have a crystal clear WHY for your life and business. This will keep you motivated and focused even during the difficult times.
# 2: Profits are better than wages. Wages will make you a living, but profits will make you a fortune.
Everyone needs a side hustle, a part-time business, in addition to their day job. A job limits your earning’s potential. You are only paid what the job is worth to the employer. When you own a business, you control how much you earn.
# 3: I’m working full-time on my job and part-time on my fortune.
This business is designed to do part-time, 10 to 15-hours per week, UNTIL you are earning at least double or triple your job income with your MLM Business. At that point, you can consider going full-time.
# 4: Your own personal story is your best recruiting tool.
Share your story with everyone you talk to. This is one of the reasons it’s important to get off to a good start in the business.
# 5: It only takes about an extra $1,000 per month to change most families lifestyle.
Very few people are interested in earning $1,000 per month full-time, but if you can show people how to earn an extra $1,000 per month part-time, most people will be interested in learning more.
# 6: It’s not the blowing of the wind, it’s the setting of the sail.
It’s not what happens to you that determines your future, it’s what you do about what happens to you that matters most. Tough times never last, but tough people do.
# 7: You can change your life in just a few short years.
You’re never too old to reinvent yourself, if you WANT to. The beauty of network marketing is that it is a two to five year plan to financial freedom.
# 8: Opportunity is always mixed with difficulty.
Nothing worth accomplishing is fast, free or easy. Behind every setback is an opportunity for a comeback.
# 9: For things to change, you must change.
If you keep doing what you’ve been doing, you will keep getting what you’ve been getting.
# 10: Don’t wish it were easier, wish you were better.
Work on yourself and improve daily. Accept new challenges, because you can’t grow without a challenge.
# 11: You can do the most remarkable things no matter what happens.
Most people underestimate themselves and sell themselves short.
# 12: If you do something often enough, a ratio will appear. Once it starts, it tends to continue. For example, if you talk to ten prospects and one joins, chances are if you talk to 10 more people you will have another person join.
This is known as your MLM Success Ratio. When I’m new, I make up in numbers what I lack in skills. Even a newbie can out recruit a professional if they talk to more people. More importantly, as you get better, and improve your skills, you can talk to fewer people and get better results.
# 13: You learn more by losing than you do by winning.
Fail often. Fail forward. Learn from each mistake.
# 14: Even the best baseball players who bat .300 fail 7 out of 10 times. Yet, they still earn millions of dollars per year.
You don’t have to bat 1000 to make big money in this industry. You can get rich even if you can sign up just 1 in 10 people.
# 15: I’ve got a new business and I’m getting about 3 out of 10 people to join. I’m asking that you come to my meeting tonight and just be one of the 7. If you’re one of the 3 wonderful. If you’re one of the 7, wonderful.
Not everyone you talk to will join. Not everyone you sponsor will stick with it and build the business. Your job is simply to plant seeds whenever you can and let nature take its course. Some of your seeds will fall on fertile ground and multiply. Most will not.
# 16: You must learn to discipline your disappointment.
Managing your emotions and expectations are VITAL if you want to succeed in the business. Meet people where they are at. Never pressure people to do more with the business than they want to. Everyone on your team is important.
# 17: After you sign someone up you must nourish them like a mother and protect them like a father.
Your job is to help people cross the bridge from discouragement to recognition. Our job is to see the good in people before they see it for themselves.
# 18: The way to achieve greatness is to find a way to serve the many. Service to many leads to greatness.
If you help other people get what they want, you will get what you want. The more people you serve, the more money you make!
# 19: Getting people to work together is magic. If two or three people agree on a common purpose, nothing is impossible.
Instead of telling people what to do, go with them and help them do it.
# 20: Promotion pays staggering money.
Promote events. Have contests. Do lots of recognition for your team. This is one of the most important skills to master. The company comes up with major promotions and recognition, our job is to come up with smaller promotions and recognition. Make sure you reward people for small steps of progress, not just the people who accomplish big things.
# 21: We all need to belong to something bigger than ourselves.
People want to be part of a winning team. Create a strong team culture that grows people.
# 22: The only way to master something is to do it again, and again, and again.
Perfect practice makes perfect.
# 23: Everyone needs business skills and life skills. The ultimate skill you can learn to transform your life is the ability to INSPIRE others. If I can do it, you can do it!
Your job is to get people to see themselves better than they currently are. Look for the good in people and believe in them UNTIL they believe in themselves.
# 24: Learn to work by group.
Spend your one-on-one time with your producers and train everyone else in a group setting. You can’t make anyone successful. You can’t drag anyone across the finish line. Your job is to lead by example and work with the willing.
# 25: Don’t expect a pear tree to bear apples. You cannot change people, but they can change themselves.
You are looking for someone who is ambitious, coachable, and willing to work. That is your best MLM Prospect.
# 26: If you talk with someone and they say I don’t have the money, just say “I’ve been looking for you for six months!” Let me show you how to do it without any money.
Know how to overcome the most common network marketing objections. Keep things simple and show ordinary people how they can be successful with network marketing.
# 27: If you live well, you will earn well.
Do what you love and love what you do.
# 28: There’s nothing more valuable than your inner circle. Guard it. Protect it. Nurture it.
Find and develop an inner circle of people with similar goals who uplift, support, and encourage you.
About Jim Rohn
Jim Rohn was an author, speaker, and entrepreneur. He was one of the greatest philosophers of modern times. You can learn more about Jim Rohn by visiting his website here.
There you have it folks. These are my biggest takeaways from Building Your Network Marketing Business by Jim Rohn. I hope you found the information helpful. Which lesson from Building Your Network Marketing Business is your favorite and why? Leave a comment below to let me know what you think. I look forward to hearing from you. Have a great day!