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.
Top 5 MLM Fundamentals
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) closing, (4) following up, and (5) taprooting.
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. This applies to EVERY type of business, not just network marketing.
Remember, your product, service and business opportunity are NOT your real business. Instead, your real business is MARKETING your products, services and business opportunity.
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. Keep in mind that lead generation is a LEARNED skill. Anyone can learn and master it.
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 your products, services 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.
The key to “inviting” successfully is to use the curiosity approach, ask questions, be in a hurry and confirm a time for the appointment. Keep it short and simple and don’t say too much. Remember, your job is to sell the appointment and then let the appointment sell your prospect on the business or products.
Other posts you may enjoy:
- The Three Most Common Challenges in Network Marketing
- Stick to the Basics In Your MLM Business
- Top 81 A.L. Williams Quotes from His Book “All You Can Do Is All You Can But All You Can Do Is Enough”
- Top 40 Jim Rohn Quotes of All Time
- Advice from a MLM Millionaire: 36 Key Lessons
# 3 Closing
Previously, step three was PRESENTING. I have since changed that because I believe you should NEVER do a presentation yourself. Your job is to utilize third party tools to give the presentation for you. This removes you from the equation and keeps the business simple.
After a presentation is finished, you must CLOSE your prospect. In other words, you need to help them make a decision. Most prospects, even if they want to buy your products or join the business, will not do so unless you specifically ask them to.
My favorite closing technique, which I learned from Dale Calvert, is simply to ask “What questions do you need me to answer before we get you started today?” After you ask the question, don’t make a sound. Wait for your prospect to respond.
If they have an objection, and they normally will, overcome the objection using the “feel-felt-found method” and then ask them that exact same closing question again. Repeat this process until they give you a definitive yes or no.
# 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.
The key to the follow up is to be persistent and consistent, without using hype or pressure. Your job is to walk your prospect through a series of steps and follow ups so they can make an informed decision. Send them a postcard, invite them to a three-way call with your upline, get them to a live event, let them try a product sample, etc.
And whatever you do, remember your prospect is always watching you. Don’t quit the business. Many of your best prospects will watch you for a year or two BEFORE they decide to partner up with you.
# 5 Taprooting
Taprooting is the fifth and final MLM Fundamental. This is the process of working with the people you sponsor to help them sponsor people. This is building depth in your team. In other words, when you sponsor Joe, you go out and help Joe sponsor someone quickly. Then you start working with that new person and help them do the same thing. You keep repeating this process over and over in depth until you find another leader or doer.
Taprooting is the smartest way to build your network marketing business, especially if you aren’t good at recruiting yourself. This is what many people in the big companies teach and do, because it works.
Remember, width gives you profitability, but depth gives you security.
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.