Today, I want to talk about the MLM fundamentals. These are basic skills or tasks you must master to build a large and successful network marketing business.
I’ve been in this industry a long time now and I’ve studied hundreds of successful distributors. The one common theme I find with them is that they focus on the fundamentals. They keep things simple and they focus on the basic tasks/activities that propel their business forward.
A fundamental is “a central or primary rule or principle on which something is based.” In my own words, I like to think of a fundamental as a basic “building block” or “essential task” you need to focus on to build your network marketing business.
For example, the fundamentals for a defense in football are:
- Block Destruction
- Creating Turnovers
Some of the fundamentals in basketball are:
The most successful sports teams focus on the fundamentals. The coaches of these teams realize it’s hard to master the big things until you master the little things. More importantly, the “big things” are normally nothing more than a collective group of small things.
Once you master the fundamentals in something, everything else will fall into place. If you can’t get the fundamentals figured out, nothing else will work very well.
When it comes to our great industry, there are only a few basic MLM fundamentals that you need to understand and master. As I see it, there are five basic MLM fundamentals in network marketing which include (1) lead generation, (2) inviting, (3) presenting, (4) following up, and (5) duplication.
In the paragraphs below, I will cover each MLM fundamental in greater detail.
# 1 Lead Generation
Knowing how to generate leads is quite perhaps the most important fundamental in network marketing. Without a constant flow of new leads your business is doomed to fail. At the end of the day, it’s the person who is the best at generating leads that will have the highest likelihood of succeeding in our industry.
There are many ways to prospect and get leads for your network marketing business. A few popular methods include: (1) approach strangers via the three foot rule, (2) place ads in newspapers, (3) do home parties, (4) generate leads on Facebook, (5) buy leads, and so much more.
The real key to success is to pick a prospecting or lead generation strategy that you feel comfortable doing and then MASTER that one strategy. Get so good at it that it comes naturally to you, and works every time.
# 2 Inviting
Inviting is another important MLM Fundamental. Once you have leads and prospects you must know how to invite them to listen/watch a presentation that explains the products or business opportunity. Even if you aren’t good at showing the presentation yourself, you can use your inviting skills to get people to watch a webinar, attend a meeting, or listen to your upline give a presentation.
# 3 Presenting
This is the only “questionable” MLM fundamental on this list. I don’t believe you HAVE to know how to give a presentation to your prospect to succeed in network marketing, but it sure does help. With today’s technology, you can send anyone to watch a video or webinar that explains more about what you do. That being said, once you know how to give a presentation yourself, you are off to the races and control your own destiny.
# 4 Following Up
The money is in the follow up. How many times have you heard that before? It’s so true. This is one of the most important MLM fundamentals on this list. The best network marketers are really good at following up with people. They realize that most people need at least seven to twenty exposures and follow-ups to something before they commit and buy. Learning how to follow up effectively, without begging or chasing people is a very valuable skill to have.
# 5 Duplication
Duplication is the ultimate fundamental in network marketing. Duplication is what builds fortunes. Anyone can sponsor someone, but a good network marketer has a good game-plan in place so that new person can also sponsor others and duplicate themselves. This really comes down to having a good system in place for your team, and working closely with each person you sponsor, to help them build a team of their own. Remember, network marketing is about a lot of people each doing a little bit.
If you want to be successful in network marketing, you need to MASTER these basic five MLM fundamentals. It won’t happen overnight, but if you take the time to educate yourself and work in the trenches every single day, you would be amazed at what you could accomplish in just a few short years.
Remember to keep things simple. Don’t complicate this business. Stick to the MLM fundamentals and you will do very well. Over-complicate things and you will get frustrated and burnt out.
What do you think? What do you believe are the most important fundamentals in network marketing? Leave a comment below to share your thoughts. I look forward to hearing from you.