Chuck’s MLM Weekly Wisdom # 34 – April 29, 2015
Dear Network Marketer:
I hope you are happy, healthy and well. Here is this week’s edition of Chuck’s MLM Weekly Wisdom. Enjoy the training.
# 1 Million Dollar Tip
Build your list. No, I’m not talking about your warm market list of friends and family either. From this day forward, keep a list of EVERYONE you EVER talk to about your products or business opportunity. Store their information in an address book, rolodex, contact manager, spreadsheet, or on an index card. Write down what you know about them and what you talked about.
Write down when you need to follow up with them next. Write down what step of the follow up process they are in right now. Write down whatever they tell you. Every time you talk with them update their information.
Stay in touch with EVERY person you meet or talk to at least once every 30 to 90 days until they die or buy.
You have to realize that the money is in the list. And the money is in the follow up. Companies come and go. You could be terminated at any time. Your most valuable asset is your list. Safeguard it all costs. When you have a list of people who know you, like you and trust you, you are in the driver’s seat.
It’s also important to realize that many of your best prospects will take months or even years to recruit. If you stay in touch frequently and build a good relationship with them, many of these folks will join your team or become a customer when the timing is right for them.
Think about it this way for a moment. If you talked to just two people a day for 10 years, you would have 7,300 people on your list! Do you think you could sponsor at least 100-300 of these folks? I know you could. Whatever you do, don’t be shortsighted.
*** I wish I could take credit for this idea, but I learned it from Jordan Adler.
# 2 Book of the Week
My book of the week this week is Network Marketing for Facebook: Proven Social Media Techniques for Direct Sales and MLM Success by Jim Lupkin and Brian Carter. I just finished reading this book and thought it was tremendous. It has tons of great tips on how to leverage Facebook the right way to build your network marketing business. Best of all, it includes tons of interviews from six and seven figure earners who used Facebook to build their MLM Business. They share their best tips and strategies. You can read the review I wrote about the book here, or you can buy it on Amazon.
# 3 Read This Blog Post Right Now
I wrote a post some time back about “The Five Step Sponsoring Process.” I consider this to be one of the most important posts on my blog. Basically, it talks about having a standardized process for showing the plan and following up with people. It’s a process you can walk people through step by step to get them from seeing the plan to signing up as a customer or distributor. The information is very important and I hope you take a few moments to read it. Read the post.
# 4 Today in History
On April 29, 2004 Oldsmobile builds its final car ending its 107 years of production.
# 5 Featured Blog Posts
Here are a few trending posts on my blog this week.
- MLM Company with the Most Six Figure Earners
- Top 4 MLM Cell Phone Companies
- 34 Ways to Get More Leads: How to Do It
# 6 Know Your Numbers
The numbers NEVER lie. Study any top earner and you will find that MOST of them have personally sponsored minimum 100-200 people, and sometimes more, yet they make most of their money (at least 80%) from just one to three of those people.
I just read in a book where two top earners said “You don’t need 10,000 people to succeed. The number of people we personally sponsored that gave us 95 percent of our income is SIX. We’ve sponsored close to 300 people, but we had to speak to thousands of people. So find a few hundred then focus on the serious ones.” Masa Cemazar and Miguel Montero, seven figure earners
The truth is most of the people you sponsor will do very little if anything at all to build the business, regardless of how much you help them. Your job is to be there to support everyone, but work with the willing. Typically, one out of every 20 to 30 people will be a rock star and one out of every 50 to 100 will be a mega rock star! Those are the folks you are really looking for. Those are the folks who will do the heavy lifting and build most of your team for you.
Yes, you need the part-timers and some-timers as well, but most of your growth and income will come from just a few key people. Never forget that.
It’s going to be hard to make it to the top ranks just by sponsoring 10-20 people. Can it be done? Yes, but it isn’t likely and it isn’t the norm in our industry. Go out there and work the numbers and everything will fall into place.
# 7 Something I Learned in a Video Today
I watched a pretty heavy hitting video today by Eric Worre. Eric is one of my trusted mentors and I have tremendous respect for him. Basically, the video talks about why so many people fail in our industry. He talks about how most people are lazy and off in “dream land” hoping they will be successful, but not doing the required work it takes to become successful.
# 8 Featured Videos
Here are some videos I watched this week on YouTube that I thought you might enjoy.
- Will Smith Network Marketing Training
- Vincent St. Louis Building Depth
- Spinning Plates by Dale Calvert
- How to Launch a Network Marketing Business
- Width vs Depth in MLM
# 9 Quote of the Week
“Stay in contact with everyone you talk to. We put out newsletters. You have to have a follow-up system. Keep track of everyone you speak with. Many fall short by not following up properly.” Carol Ford, Million Dollar Earner Circle in MLM
# 10 Recommended Business Tool
One of my most valuable business tools is my contact manager. It’s called Stat Trak Pro. I am not an affiliate with the company, but I wanted to take a moment and share it with you. This is what I use to manage my mailing lists and create mailing labels each month. It’s cheap (under $30), easy to use and very important for my business growth. Check out this link if you would like to learn more about it. Here are my other suggested resources.
Thanks for reading this week’s Weekly Wisdom. I hope you have a great week. Feel free to give me a call or send me an email if you need help or have questions. Have a great day!
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Chuck HolmesWebmaster, OnlineMLMCommunity.com
Phone: (352) 503-4816
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