Chuck’s MLM Weekly Wisdom # 65
Dear Network Marketer:
I hope you are happy, healthy and well. Welcome to this week’s edition of Chuck’s MLM Weekly Wisdom. Enjoy the training.
# 1 Why People Aren’t Serious About Their Business – Most reps are not serious about their MLM Business because they have little, if any money invested. If they had a million dollars invested, I can assure you they would wake up every day and do whatever it takes to succeed. Easy come, easy go.
# 2 Should You Quit? This industry is not for everyone. At some point you might decide to quit and move on to something else. There is nothing wrong with that. My only advice to people about quitting is to at least give it a fair chance, before you decide to give up. Giving it a fair chance means that you show MINIMUM 100 presentations to prospects. If after you’ve done that and you decide MLM isn’t for you, so be it. You can’t quit something you haven’t started. If you haven’t shown 100 plans you haven’t started.
# 3 When Should I Do This Full Time? Contrary to what many people think, I don’t believe you should do MLM full-time until you have at least 12 months worth of living expenses in your savings account and you are making at least three times your job salary with your MLM Company. The beauty of this industry is that is designed to do part-time initially, until it becomes a full-time income.
# 4 Who Should You Talk to? You should talk to everyone. You never really know who will be successful. I wish people walked around with a stamp on their head telling you they have what it takes, or not. But people don’t do that. You never know who your next ace will be. That being said, I have found, from my experience, that most people who are successful in our industry were already successful in life before they joined the industry. You should also know that quality people will typically lead you to quality people whereas broke people will typically lead you to broke people.
# 5 Who Becomes Successful in Our Industry? The people that join a company, set some goals, work their business every day, and stick with one company at least FIVE YEARS, and much closer to ten years.
# 6 Your Goal When Building a Downline. You are looking for quality people. Quality trumps quantity every day of the week. Most people would be much better off if they were just customers, rather than distributors. Lead with the products, build up a large customer base, and recruit a few quality people. Repeat.
# 7 How the Business Works. This business really is simple. You simply need to use the products, find a few customers, sponsor a few distributors and teach your group to do the same thing. Keep repeating this over and over and until successful. This is advice I learned from Jordan Adler.
# 8 Five is the Magic Number. Keep sponsoring people personally until you have five people who are really committed to the business. You’ll probably have to sponsor 50 to 200 people to find five committed people. Once you have them, do what you can to support them, help them build a team, and work with them. Most top earners make 90% or more of their money from just 1-3 people, even if they’ve sponsored hundreds. Also, if you sponsor too many people at a time you won’t be able to help them effectively.
# 9 Something to Think About. I have several top earner friends. These folks have teams of 10k to hundreds of thousands of people. I’ve asked all of them to tell me about their three best people and what they did to help them. In every single case they make 90% or more of their income from these three people AND they tell me they did absolutely nothing to help these folks with their business. They didn’t put anyone on their team. They didn’t do anything for them. They simply stayed out of their way. The moral of the story is that your good people will build it with or without you. People who require a lot of help typically do very little in the business.
# 10 The Most Important Person to Sponsor. The most important person you need to sponsor is yourself. You are the most important person in your group. If you do not have 100% belief in yourself, your company, your products and the industry, you will never make it to the top.
# 11 Why People Won’t Work with You. The reason people say no to you is mostly because of you. People don’t join companies, they join people. You have to be someone worth joining. Your prospect has to know you, like you and trust you. They have to see you and what you have to offer as solution to their troubles.
# 12 What do the Top Earners Have in Common? If you were to look at 100 top earners from 100 different companies this is what you would find. Most of them have sponsored 100 to 200 people personally. Most have been with the same company for at least five years. And most of them earn 90% or more of their income from three or less people on their team. Most of these top earners simply sponsored 2-4 people per month for five years. That’s it.
Thanks for checking out this week’s edition of Chuck’s MLM Weekly Wisdom. I hope you found the information helpful. If you have questions or need help with anything feel free to give me a call or send me an email.
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Chuck HolmesWebmaster, OnlineMLMCommunity.com
Phone: (352) 503-4816
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