MLM Weekly Wisdom # 6 – November 14, 2014
Dear Network Marketer
I hope you are happy and well. Here are a few valuable tips to help you with your MLM Business.
# 1 A Lesson from Bill Britt in Amway – Bill Britt was one of the most successful Amway distributors of all time (he recently passed away). When asked why he was so successful in Amway when so many other people failed he responded by saying (paraphrased) that “he credits his success to showing the plan to about 1,200 people and sponsoring about 300 of those people. Of those 300 people, only 85 did anything at all, 35 were serious and 11 made him a multi-millionaire.”
If you truly understand that wisdom, you will realize that you have to sponsor a lot of people to find a few leaders who will help you build a huge business. Another key takeaway is that a few key leaders can make you very very wealth. It will be next to impossible to build a large team if you only sponsor a few people. You have to work the numbers and let the numbers work themselves out.
# 2 Building a Team of Just Customers – I am a HUGE fan of building a team of customers, rather than distributors. To start, most people are not interested in joining a MLM Business. And most people, who do join, a large majority of them will quit within 90 days. When that happens, you have a revolving door in your business and you have to keep replacing people just to stay even.
As I see it, the customer approach is much better. Personally, I would rather have a team of 100 customers than 100 distributors. With customers, you make more money per person and there is a lot less baby-sitting and hand holding involved. Customers who like the products will keep reordering month-after-month, even if they never build a business. And yes, you can earn residual income from your customers. Customers who order every month provides you a residual income. Learn how to build a team of just customers.
# 3 Look for Five You Can Turn Into 5,000 Rather Than Looking for 5,000 – At the end of the day, your goal should be to recruit FIVE QUALITY PEOPLE. I can’t stress that enough. Recruit up and try to find GO-GETTERS who have a big burning desire, a strong work ethic, and are coachable. Once you find these people do everything you can to help them find their five WINNERS and keep repeating this process over and over in depth. It’s a lot easier to find a few quality people, and then “run with the horses” than it is to try and revive the dead or motivate the unwilling.
# 4 Be Accessible – Great leaders answer their phone and return phone calls promptly. Never take more than 24-48 hours to reply to an email or phone message, especially if it’s from someone on your team. By all means have boundaries, and certain times of the day that you answer your phone. But don’t leave people hanging for long periods of time.
# 5 It’s Not Your Job to Save People – This is another valuable lesson I’ve learned during the past 12 years. We all want to help people who are broke or down and out. I understand that. The problem with spending all of your time prospecting broke people is that your business will fail. Most (not all) broke people don’t have the money or desire to get started in a business of their own. It’s just a reality.
At the end of the day you want to focus your efforts on people who WANT a plan B/more money, not people who need it. Yes, that sounds harsh, but I’ve found it to be true. Focus on sponsoring people who are already successful, have disposable income, a good self-esteem, and lots of contacts. These are the folks who will “more than likely” become successful in the business anyway.
# 6 Tip of the Day – If I was going to share one tip with you today it would be this. Create a monthly newsletter and send it out in the mail every month (not email). Do this for EVERYONE on your team, regardless of how many levels deep they are in your organization. Stay in touch with everyone on a regular basis, share information with them, and keep them in the loop. Creating a monthly newsletter was one of the best business decisions I ever made.
# 7 Suggested Book – My suggested book of the day is “No B.S. Direct Marketing” by Dan Kennedy. This is really an epic book about how to use direct response marketing to grow any business. Basically, I’ve copied his “process” for generating leads and following up with leads and it has helped me immensely. If you haven’t read this book yet, you should.
# 8 Leadership Advice – Create a personal development plan for yourself. Come up with a game plan that outlines what you are going to do every single day to learn new skills and improve. Set daily, weekly, monthly and yearly goals to learn new skills and become a better leader. Be a student of leadership, your company, the products, and network marketing. You would be absolutely amazed at what you could accomplish in just a few short years if you just strive to get a little bit better every single day.
# 9 Quote of the Day – John Rockefeller once said “I would rather earn 1% of a 100 people’s efforts than 100% of my own efforts.” I have to agree with him. That’s what I love about network marketing: LEVERAGE. If you want to, you can build up a team of any size and earn a small percent from each person’s efforts. You can’t do that in a job, and it’s hard to do that in a traditional business unless you have employees (headaches).
# 10 The 10,000 Hour Rule – There is a rule that I read in a book “Outliers” that talks about the 10,000 hour rule. Basically, the rule states that it takes 10,000 hours to become an expert at something, or to master a skill. It takes 10,000 hours to be world class at something. This applies to any profession or skill, not just network marketing. Read more about the 10,000 Hour Rule in Network Marketing.
As always, I hope you enjoyed today’s training. If you have questions or need help, give me a call at (352) 503-4816. Have a great week.
Chuck HolmesWebmaster, OnlineMLMCommunity.com
Phone: (352) 503-4816
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