Today, I’d like to share my MLM Survival Guide. This guide is for any new or inexperienced network marketer.
Our industry is a great industry. It is by no means perfect. We have our flaws like any other business. However, we do have a better way if you are willing to pay your dues, put in the work, and stick with it for the long-term.
The biggest issue I see in our industry is UNREALISTIC EXPECTATIONS. People join our industry thinking of it as a lottery ticket. They think it will be fast and easy money. Get in early, sign up two people, sit back, and get rich!
Or they join a company and “try it” for 30-days to see how it goes. Could you imagine a restaurant owner doing that? Could you imagine someone who invested $100,000 to start a business doing that? Me neither.
We are the only business I know of that people get involved with, but don’t treat it like a business. Most reps don’t even treat their network marketing business as seriously as a hobbyist would treat their hobby. It’s quite frustrating, but normal.
I want you to survive and succeed with your network marketing business. What you see below is my MLM Survival Guide. These are some mindset hacks that will help you be “mentally prepared” to succeed in your business.
My MLM Survival Guide
Entrepreneurship is Not for Everyone
First and foremost, entrepreneurship is not for everyone. Not everyone is cut out to be their own boss. It takes vision, an impeccable work ethic, time management skills, mental toughness, and self-discipline to succeed as an entrepreneur (in ANY type of business).
Not everyone has those qualities. That is perfectly okay. There is nothing wrong with being an employee. Whatever you decide to do, be the best version of you possible. Ultimately, it’s your life and you need to do what is best for you. It’s vital to find a job, career, or business that aligns with your skills, goals, and values.
However, if you realize that “working for the man” is not an option for you, I’d like to say welcome to the entrepreneur life.
Part-Time vs. Full-Time
This business is NOT designed to do full-time right out the gate. Instead, it’s designed to do part-time, while you keep your job, your bills paid, and your spouse happy. Going full-time too soon will leave you financially destitute. Plus, it puts way too much stress on you. Do not go full-time in the business until you are debt free, have at least six months worth of savings in an emergency fund, and are earning at least 3x in your business as you do in your job.
Easy vs. Hard
I once heard a top sales trainer say that selling is the easiest job in the world if you work it hard and the hardest job in the world if you work it easy. I have concluded that network marketing works the same way.
If you dabble around with it, you will fail and end up as a statistic. However, if you take it seriously and act as if you have one million dollars invested in your business, there is a good chance you will succeed in a big way.
The choice is yours. Choose wisely!
The First Year is the Hardest
Every great network marketer was a lousy network marketer at first. ~ Mark Yarnell
Whenever you try something new for the first time, you suck at it. It takes time to learn and master a new skill, job, or profession.
The goal your first year in ANY type of new business is to learn and survive. That’s it. Heck, many businesses in the real world don’t even survive to the one-year mark.
During your first year in MLM you are learning the basics of your business. You are establishing yourself in the marketplace. You are getting your name out there. You are building up your customer base and fine tuning your skills.
My best advice is this: don’t expect ONE DOLLAR of profit your first year in business. Why? Because most traditional business owners don’t make ANY profit their first year in business.
Just set a goal to survive your first year, learn everything you can about your business, and improve daily. By the second and third year, things can get really good!
Your Family & Friends Won’t Support You
If you’re like most network marketers, a large percentage of your friends and family won’t support you. In fact, many of them will be negative and rude to you. That’s the norm in our industry. If your family and friends DO support you, consider yourself blessed. Just don’t expect it.
Sometimes those closest to us are the most judgmental and least supportive. I’m not sure why that happens, but it’s quite common.
Don’t let their negativity blow you out of the business. Keep your eyes on the prize (your vision) and make some NEW friends. Strangers are your best prospects anyway.
You Are Building an Asset, Not Trading Hours for Dollars
With network marketing, you are building an asset: your team. This asset generates a leveraged residual income through repeat orders and sales.
Assets take time to build. Rome wasn’t built in a day!
More importantly, network marketing is not a part-time job. You are not trading hours for dollars, like you would in a part-time job. It’s important to understand that.
All entrepreneurs (and network marketers) get paid on their performance and their team’s performance, not the number of hours worked.
Also, in the beginning of ANY new business, you will typically earn less than minimum wage while you get your business established. While that sucks, the beauty is you can at some point earn a great income, even if you barely work.
Once your business is built, you can work less and less and still earn a great income, if you’ve built your business properly.
It’s Like Building a Skyscraper
I learned this lesson from one of my mentors, Don Failla.
Building your MLM Business is like building a skyscraper. When you see a skyscraper being built, it can take 1, 2 or even 3 years to build the foundation. The builders must dig down to bedrock to build a stable foundation, so the skyscraper does not collapse.
However, once the foundation is finished, the rest of the skyscraper goes up quickly. The builders can build 50 to 100 floors in LESS TIME than it took to complete the foundation!
That is how network marketing works. Building your foundation is the hardest part of your business. This is when most people quit our industry (before their foundation is built). Your foundation consists of your FIVE KEY people.
In most cases, it will take you two to four years to find your FIVE key people. During that time, you won’t have tons of duplication or make big money in MLM. However, once your key leaders are in place, your team grows rapidly (so does your check).
Patience is a virtue. Keep hustling, keep grinding, and eventually you will finish your foundation. Once that is complete, life is good!
The Secret MLM Success Formula
The last lesson in my MLM Survival Guide is what I call the SECRET MLM SUCCESS FORMULA. This formula is a combination of lessons I have learned from several MLM Millionaires, and through real-world experience in the industry.
Focus + Consistency + Skills + Sustained Period of Time = MLM Success
Everything starts with focus. You must focus on ONE opportunity. Being the jack of all trades or promoting multiple deals is a recipe for failure. Could you imagine an Olympian training for five different sports? Me neither. You must pick one opportunity and have laser like focus UNTIL you reach your goals. Avoid shiny objects and the temptation to look at other opportunities.
Next, you must be consistent. You must work your business at least 1-2 hours daily, minimum six days a week, minimum two years. Stopping and starting is the kiss of death in this business. This is a business of momentum and the only way to create momentum is to be consistent.
Skills are also critical. Skills pay the bills. If you are focused and consistent, you will naturally develop your skills. Just remember you will learn more by doing something for one hour than you will by studying about it for 100 hours. Learn in the trenches. Roll up your sleeves and master the mundane by doing the Income Producing Activities over and over.
Finally, you must do these basic things for a sustained period of time, normally two to four years. It sounds like a long time, but time flies. Plus, it’s much quicker than the traditional 40-40 Plan.
One Last Tip
If you want to survive MLM, please realize your success is dictated by the number of people you talk with each day. That’s it. Whether these leads come to you first, or you approach them first, we get paid to talk to people. If you aren’t talking to minimum two to ten new people daily, you will not succeed in MLM. Period. Never let a day go by (ever) where you haven’t shared your products or business with at least two to ten new prospects.
In conclusion, I hope you enjoyed my MLM Survival Guide. Mindset is everything in this business. Having realistic expectations is everything in this business. If you follow the advice mentioned in my MLM Survival Guide, there is no doubt in my mind you will become a MLM Success Story.
What are your thoughts? Leave a comment below to let me know what you think. I look forward to hearing from you.