Chuck’s MLM Weekly Wisdom # 18: January 7, 2015
Dear Network Marketer:
I hope you are happy and well. Here is this week’s training.
# 1 The Quickest Way to Go Full Time in Network Marketing – Without a doubt, the quickest way to go full time in network marketing is to build an organization of retail customers first. In most companies, you can earn a few grand per month with just 50-100 customers (individual results will vary). On the other hand, to earn the same income from your downline, you would need a team with more than 1,000 people (if not more). I truly believe everyone should have at least 20 customers. Acquiring 50 to 100 customers is much better. Before you go out and try to promote the business, spend some time to promote the products and get some customers.
# 2 The Fastest Way to Rank Advance – The fastest way to rank advance in your company is to help others rank advance. Show each new person on your team how to get to the first rank, then the next rank and then the next rank. Rather than focus all of your time teaching everyone how to be a Diamond, or top earner, spend your time teaching people how to rank advance. You get promoted one rank at a time. Before you spend all your time scheming how you will make it to the top ranks, make a plan on how you will get to the next rank. Help each team member do the same thing. The first rank advancement in your compensation plan is the most important one. Teach everyone how to get to that rank and you will rank advance quickly.
# 3 Putting on the Blinders – Pick a good company and put on your blinders for a few years. Stop switching companies and jumping around from one company to the next. Find a company with products you are passionate about and make a commitment to build that company for at least a few years. Sure, the grass always looks greener on the other side. But the truth is the grass is greenest where you water it. You won’t build any successful business in 90 days. Every time you switch companies you start over. Avoid the shiny objects at all costs.
# 4 Reading Program – Whether you like to read or not, you need a reading program. If I could credit one thing to my success in life, it’s my personal development. And most of my personal development came from books. Make it a point to read at least 15 minutes per day. You feed your body at least three times per day. Why note feed your brain at least once a day? You can check out our reading list to see our suggested titles. I recommend you read books about network marketing, business, sales, marketing, communication, relationships, people skills and leadership.
# 5 The Power of Focus – I see so many folks trying to do WAY too many things at once. They’re trying to build several businesses at once, doing several strategies at once, and diluting their efforts. My best tip is to pick one company and to focus on one marketing strategy. Rather than try to build your business 10 different ways, pick one method. Once you are successful with that method, by all means diversify. If you try to do too many things at once, you won’t get anywhere near the results you could get if you focused on one thing.
# 6 Sponsoring Up – Always keep your eyes and ears open for leaders. Look for people with good people skills, a large sphere of influence, who are already successful, and are looking for some extra income. Ultimately, look for people with leadership qualities. Look for people who are good at what they do, work hard, and are respected by their peers. These are the folks who would do very well in the business.
# 7 The Stats – Here are some stats I have learned from personal experience and by studying others. If you have 100 people on your team, 50 will quit, 40 will be loyal product users, and 10 will do something to build the business. 1 or 2 of those 10 will build huge businesses of their own with or without you. In addition, about 1 in every 30 people you sponsor will be a rock star. If you want three rock stars you will need to sponsor 90 to 100 people personally. Approximately 90% of your income will come from the efforts of one to three people on your team.
# 8 Building Depth – Width (personally sponsored folks) gives you immediate profitability. Depth (people referred by others) gives you long-term security and profitability. In the beginning, you will focus on building width, until you find three to five really serious people you can work with. At that point, shift your efforts to building depth by supporting and helping them build a large team. In addition, always work at the bottom most point of any leg, with the newest, most excited distributor. I’d personally rather have three legs, one hundred levels deep each, than have 300 legs on my frontline.
# 9 How to Motivate Others – There is nothing you can say that will permanently motivate anyone. People are either self motivated or they aren’t. That being said, the best way to motivate someone is from the bottom up. You do that by working in depth with your team. When you help someone on level 10 in your organization grow their business it automatically motivates the people on levels one through nine. Light a fire in the basement to keep everyone motivated. Keeping working at the bottom most point of each leg and you will naturally motivate the people above them. Fear of loss is a great motivator.
# 10 Retaining People – One of the best skills you can develop is learning how to retain your team. It does no good to sponsor 10 distributors or customers only to have them all quit. Most people spend all their time, money and energy recruiting someone, but once they have them signed up, they abandon them and leave them to the wolves. One of the best things you can do as a distributor and sponsor is to build a good relationship with your people. Nurture them. Support them. Stay in touch frequently. Send out a newsletter. Do a weekly call. Send out a weekly email. Let them know you appreciate them. The real money in your business comes from REPEAT orders. Never forget that.
Have a great week!