One of my team members, Kim, asked me a question last night that really got me thinking. She asked me the following question:
If you knew what you knew right now and you were just starting over in network marketing, what would you do differently?
This is such an EPIC question. It’s a MILLION DOLLAR QUESTION. It’s something every distributor should ask their successful upline.
It’s a question I have asked many people myself, but I don’t believe anyone has ever asked me this question before. It got me thinking. It took me about three seconds to answer her question.
Before I share my answer with you, let me tell you right up front, I have done EVERYTHING wrong in this industry for at least my first decade in the industry.
I have done the following things wrong:
- For a while, I jumped from company to company
- In every company I joined I tried to reinvent the wheel
- For most of my career, I have NOT been coachable
- I never sought out a successful mentor
- In most cases, I did not follow the company’s or upline’s system
- I typically ignored the advice of my successful upline
- I was not a product of the product
- And so much more!
There are really only TWO things I did right in my network marketing career. First off, I never quit. I always believed in myself and believed in the industry and knew I would eventually figure it out, or die trying.
Secondly, I worked on my personal development like my life depended on it. Since joining the industry in 2002, I have worked on myself EVERY SINGLE DAY.
I took the time to develop the right skill-set and the right mind-set. I read books, attended events, found mentors and strived to get better each day!
Believe it or not, my breakthrough in the industry happened when I found two mentors OUTSIDE of the network marketing industry. Those two gentlemen are Mike Dillard and Dan Kennedy.
They are MARKETING GURUS. They taught me marketing and lead generation. Those two skills have completely changed my life and business for the better.
And, they taught me a valuable lesson that I have built my entire business on. It is a three step formula that goes like this:
- Build a list
- Build a relationship with your list
- Monetize your list
It took me about five years, after I first learned this lesson, to really figure it out and master it. It has since helped me build SEVERAL successful businesses.
If I was starting over in the network marketing industry, and I knew what I knew now, I would do TWO things.
First off, I would keep an index card of EVERY single person I ever came in contact with. EVERY…SINGLE…PERSON.
This would be people I met face-to-face, people who responded to my ads, people I met at networking events, people who joined my team, customers, people I met at the gas station, etc.
I would keep their contact information, such as their name, email, phone number and physical address.
More importantly, I would find a simple and effective way to stay in touch with each person at least once a month for the rest of my life via a newsletter. I would master the follow up, and have a list of THOUSANDS, maybe even TENS OF THOUSANDS of people in my database.
I would make sure they liked me, knew me, and trusted me. I would be the consummate professional. I would provide value. I would teach and share my knowledge. I would be a great example of a network marketing professional.
This means that if I ever switched companies, found a new product to promote, or was looking for new people to recruit, I would always have a large list of people to talk with.
Think about it for a minute. If you talked to five people a day, for five years, you would have an in-house list of nearly TEN THOUSAND people. Assuming you had a system to stay in touch with these folks, you would NEVER have to prospect another person the rest of your life.
The second thing I would do differently, if I knew what I knew now, would be to BUILD AN EMAIL LIST from day one. I would not build a blog, YouTube channel, social media presence or anything else.
I would take ALL of my time and money and build up an email list. I would have a target market, either entrepreneurs or other network marketers. I would have a capture page.
I would have a marketing plan, and every day my ONLY GOAL would be to add 50 to 100 new people to my email list via paid advertising.
As I did that, I would send out a DAILY EMAIL to my list, EVERY SINGLE DAY, for the rest of my life. I would provide VALUE, not spam people.
I would position myself as an expert and I would help people solve their problems. As a result, people would like me, know me, and trust me and want to do business with me. I would be seen as a trusted advisor, not a salesperson.
Because of my loyal following, I could promote ANY company or product to my list because of my relationship with them. It’s true, the money is in the list IF the people on your list like you, know you and trust you.
Whether your list is a physical database, an auto-responder, a CRM program, or anything else, the money is in your list. The most valuable asset for any business is their customer and prospect list.
I’ve currently built a list of close to 10,000 people over the past few years. Had I started much sooner, I could have easily had 100,000 or more people on my list.
I hope you will do the same thing in your business. Starting today, keep a LIST of everyone you talk to by phone, social media, or in the real world.
Get their contact information and stay in touch frequently. Provide value. Educate. Share your knowledge, struggles and successes. If nothing else, HELP PEOPLE solve their problems.
Furthermore, get an auto-responder and start building your own email list today.
Social media accounts can be terminated. MLM Companies come and go. Business opportunities may come and go. But, NO ONE can take your list from you. Your list is your REAL BUSINESS and it is your most valuable business asset.
Here’s one more valuable point. You can make a full time income in most businesses just by having 500 to 1,000 overly passionate people on your list. It’s not about having hundreds of thousands of people on your list. It really comes down to the quality of the relationships you have with the people on your list!
Now you know!
What are your thoughts? If you knew what you knew right now, and you were starting over in network marketing, what would you do differently? Leave a comment below to share your thoughts. I look forward to hearing from you.