Welcome to Day # 3 of my MLM Boot Camp. Yesterday, I discussed why people fail in MLM. Today, I’d like to discuss what it takes to succeed in this amazing industry.
Obviously, success means something different to everyone. Ask any 100 MLM Reps their definition of success and you will get 100 different answers. My definition of success means earning at least $10,000 per month in your network marketing business. For most people, that would be a big enough income to enable them to do the business full-time.
When you study successful reps in our industry, there are many differences and similarities. They represent every walk of life, both men and women, educated and uneducated, single and married people, skinny and fat, old and young, etc. However, when you dig deeper and peel the layers back, you will see that they also share many things in common. Those are the things I am going to focus on in today’s training.
What it Takes to Succeed in Network Marketing
This is not an exclusive list for MLM Success, but it does provide a 95% solution. If you can learn and master these 12 simple things, you will be well on your way and you will be “leap years” above the average MLM Rep.
# 1: Decision
Success always starts with a decision. No one is successful by accident in this industry. You must decide you’re going to succeed with your business. Most people never make this decision. Instead, they dabble with it or try it out for a few months to see how it goes.
You must burn your bridges and “sell-out” to your business just like any other traditional entrepreneur would “sell-out” to their business. If you don’t decide to succeed, you are automatically deciding to fail. Without a decision, you will give up at the first sign of defeat.
# 2: Vision
The next thing you need to succeed in network marketing is VISION. This means seeing things before they exist. This means flushing your employee mentality and learning to think like a business owner.
You must clearly articulate your WHY. You need a why that makes you cry. Without a strong WHY you will not survive the ups and downs that come with building a business.
This also means you make long-term decisions in your business. Every decision you make should be based upon what is best for your business in the long-term, not the short-term.
# 3: Grit
Some people call this mental toughness. I prefer the word grit because it sounds cooler. You must be mentally tough. This means you don’t care what others say, think, or do. You ignore your haters. Your emotional health is not dictated by others.
You expect obstacles and setbacks. You embrace them. You are prepared for challenges and the unexpected. And you always bounce back when things don’t go as planned. You are 100% focused on the destination, but you are flexible about what you must do to get there.
# 4: Specialized Knowledge
Specialized knowledge is vital to success in any endeavor. Network marketing is no different. You must master a few basic skills such as prospecting, inviting, closing, retailing, launching new reps, and promoting events.
It takes time to build up your skills, normally several years. You can earn as you learn, but to make the big bucks, you must master these skills. Skills pay the bills. If I had to give you a formula to MLM Success, it would look like this:
MLM Success = Skills + Activity + Sustained Period of Time
# 5: Mentorship
I’ve never met anyone who succeeded in our industry without some form of mentorship. Ideally, this mentorship will come from your sponsor or upline, but not necessarily. I met my mentors through books and videos, and I have not met any of them in real life.
Whatever you do, do not reinvent the wheel. Plenty of people have gone before you and blazed the trail. If you are smart, you will humble yourself to ask them for advice and then do what they teach you to do.
# 6: Game-Plan
Without a game-plan, you won’t survive long in the business. Your game-plan should outline your goals and strategy and detail what you intend to do each day to grow your business. It must be written down and referred to daily. It should be modified when needed.
Your game-plan is your road-map to success. Just like you plan out your route when you are taking a road trip in your vehicle, you must plan out your route to achieve success in the business.
# 7: Focus
To do anything on a grand scale, you must be 100% focused. Could you imagine an Olympian training for three different sports? Me neither. Successful MLM Reps focus on one business. They do not promote multiple network marketing companies and they do not focus on multiple streams of income UNTIL they have built up one solid income stream.
# 8: The Right Company at the Right Time
The company you partner up with has a huge role in whether you succeed. First off, you must love the products or services the company offers. If you don’t love the products or services, it will be hard to enthusiastically share them with others. Simply put, if the products don’t make sense, neither does the business.
You also want a company that aligns with your values. Some people prefer established, older network marketing companies with less risk. And other people prefer newer companies with higher risk, but greater upside potential. There is no right or wrong answer. Pick the type of company that aligns with what is important to you.
I have learned from personal experience, after many years in the industry, that it’s best to look for a company that is a few years old, but is not a household name yet. Basically, a company that has worked out the early issues and kinks, but is still flying under the radar. These companies offer the biggest potential.
# 9: Integrity
Integrity is everything. You either have it or you don’t. While there might be a few bad apples in our industry, I’ve found that the shady people normally get weeded out. This is a volunteer Army. People will only follow you if they choose to.
You must do what you say and say what you do if you intend on building a long-term business. Once you get in the habit of lying or cheating, your downfall has begun. Trust is everything. Once you lose it, it’s almost impossible to get back.
# 10: Leadership
The highest paying trait in the world is leadership. It also holds true in network marketing. The most successful reps are amazing leaders. They might not have started out that way, but over a period of time they refined their leadership and influence.
You must be the type of person you want to sponsor and be the type of sponsor you wish you had. You must inspire others by your own personal example. Work on your leadership skills daily. Improving your leadership skills is the fastest way to grow your team and income.
# 11: Luck
Yes, there is some luck involved in network marketing. No, it’s not like going to Las Vegas and dropping $10,000 on the roulette wheel and getting lucky with the spin.
When I say luck, I am referring to how long it takes you to find your quality leaders (and become one yourself). You might be fortunate, have a great sphere of influence, and start out with the right people. Or you might have to sponsor several hundred people to find your two or three key players.
Another part of the “luck” factor is the company you choose. You never really know if a company will be around for the long-term. All you can do is do your due diligence, trust your instincts, get started, and then hope for the best.
# 12: Personal Growth
Your business will only grow as much as you do. Who you become on your journey to success in network marketing will be your greatest reward. Choose to work on your personal development daily. Be better tomorrow than you were today and repeat that simple formula every day for the rest of your life.
If you keep growing and keep learning, magical things will happen in your life and business. You will attract better quality prospects and team members and your business will grow. Focus on getting just 1% better every week. If you did that every week for two years, you could be 100% better in two years from now! How exciting.
A Common Trend
I figured I’d close out this training with a trend I’ve discovered amongst top earners in our industry. Hopefully, this will give you perspective and help you succeed.
Most top earners I’ve talked with personally sponsored 2-4 new people per month, on average, for 5+ years in one company. Not all of them got off to a quick start either. But, they stayed consistent with sponsoring new people each month and they stuck with one company five to ten years BEFORE becoming a top earner.
In conclusion, these are 12 of my best tips on how to succeed in network marketing. None of this is rocket science. These things are easy to do and easy not to do. Please evaluate yourself in each one of these 12 areas and look for things you can do to improve.
What are your thoughts? Do you agree or disagree with me about what it takes to be successful in network marketing? Leave a comment below to let me know what you think.
In tomorrow’s training, I will outline two separate strategies you can follow to get your business up and going. Either strategy will work. You simply need to pick the one that’s best for you.