Today, I’d like to share my MLM Success Formula with you.
Through the years, I’ve had many people ask me what the secret to success in MLM was. I’ve heard other leaders share different success formulas, but what you will see below is what I have learned from my own experience. It’s my MLM Success Formula.
The MLM Success Formula
Skills + Mindset + Massive Action + Sustained Period of time = MLM Success
In the paragraphs below, I will cover each part of my MLM Success Formula in greater detail.
Everything begins with your skills. Every profession requires a specific set of skills.
Fortunately, there are only a few basic skills we must master if we want to succeed in this industry. We must learn how to generate leads, share a presentation, follow-up, close a sale, retail products, promote events, and launch new reps. As you do that, you must master your LEADERSHIP skills as well.
Best of all, we can earn while we learn. You can start making money BEFORE you master these skills, but you will never make the big money in our industry UNTIL you master these skills.
The best way to master your skills is by listening to your mentor AND getting in the trenches and staying in the trenches. You will learn more by doing that for a few hours than you will by STUDYING about how to do it for 100-hours.
For most people, it will take about 2 years working the business part-time to learn the basic skills and about five years to master their skills.
Next, you must develop your mindset. You must become mentally tough so you are emotionally detached from what others say and do. You must accept and handle temporary failure, setbacks, and disappointments. If you are mentally weak, you will not last long in this industry. You must be the lighthouse, not the weathervane.
Nothing worth accomplishing is fast, free, or easy. Success never goes on sale. You must pay the full price.
More importantly, you must take the long-term view and think like an entrepreneur, not an employee. You are building an asset, not trading hours for dollars. Building an asset takes TIME, hard work, and patience.
The best way to improve your mindset is to spend time with successful people in the business. Create an inner circle or mastermind group and surround yourself with shakers and movers and positive minded people.
As you work on your skills and mindset, you must take all out massive action. This means you approach MINIMUM five to ten new prospects DAILY. Anything less than that and this is a hobby for you, not a business. If you are really serious about your business, you should approach 20-30 people daily.
Read that paragraph again so it sinks in. It is the most valuable lesson in this article.
If you are self-disciplined and have a solid game-plan and system, you can contact 20 to 30 people in less than 2-hours per day. Anyone can find two hours per day for their business IF THEY CHOOSE TO.
Where do you find these people? You must learn how to generate leads or you must buy leads or get really good at meeting new people. Any of those options will work. Pick the one that is best for you.
Sustained Period of Time
As you take all out massive action, you must work your business DAILY, five to six days per week, for at least 18 to 24-months with ONE company. Go all in, never look back, stay focused, and keep the accelerator pressed to the floor.
Do not make the mistake of starting and stopping. For each day you do not contact at least 5-10 people, add another 30-days to your estimated timeline for success. Doing these income producing activities CONSISTENTLY is what gives you momentum and rapid growth.
This is my MLM Success Formula. These steps take commitment, dedication, and hard work. Most people will not do them. Most people will not pay the full price. Some people will follow these steps for a few weeks. Others will do it for a few months. But only a few will do whatever it takes for as long as it takes.
It takes a big why and lasting commitment to get started, do the work, and stick with it UNTIL you hit your goals. That’s why so few people achieve lasting success in our industry.
If you want to earn the big bucks and be recognized on your company’s stage, this is what you will need to do. It’s not easy, but it’s worth it.
Now you know. Will you do it? I sure hope so.
One Last Thing
Before I close out this article, I want to put things in perspective. If you were going to start a traditional business, you would have to pretty much do these same things.
- You must develop your specialized knowledge.
- You must develop the right mindset.
- You must market and advertise your business daily.
- You must focus and work your business consistently for the first few years to launch your business, make it profitable, and get established.
Plus, you’d probably have to invest anywhere from $10,000 to $1 million just to get started.
Our industry is not perfect, but I do believe we have a better way for the average person to start a business without having the traditional business headaches. Please understand what you have your hands on. This industry is a gift. What you do with it is up to you!
Thanks for reading. Have a great day.