Today, I want to share some hard hitting MLM Wisdom I’ve learned during the past 19-years in this amazing industry.
Many societies learn from their elders. Many professionals start out as an apprentice, and learn from someone who has done what they are trying to do. That is the best way to learn.
I should start this article by telling you that I failed in this industry for more than a decade, about 15-16 years. I did everything wrong. I was not coachable. I was not focused or committed to one company. I had the wrong mindset. It’s embarrassing to say, but it’s the truth.
Fortunately, I finally figured out what works (for me and a few others). That’s why I’ve put together this long list of MLM Wisdom. These are 12 lessons I’ve learned through the years that helped me finally have my big breakthrough.
I don’t expect you to agree with everything that I say. That’s cool. My only goal is for you to keep an open mind and take away at least one valuable lesson from this page and apply it in your own network marketing business.
My MLM Wisdom
Here’s my MLM Wisdom, my top 10 tips to succeed in this industry.
# 1: This business is a numbers game.
Selling is a numbers game. Network marketing is a numbers game. Anyone who tells you otherwise is lying to you or trying to sell you a course or system. Most people you talk to will not join your business. Most people you sponsor will do nothing and quit, regardless of what you do to help them.
The more people you approach, the more people you will sponsor. The more people you sponsor, the more money you make. The more people you talk to about the products or services, the more sales you will get. Period!
Yes, this is also a game of skills and strategy and relationships. But, if you don’t go through the numbers first, none of those other things matter. As you get in the trenches and talk to lots of people, you will fine tune and master your skills. You should also be a student of your business, so you can develop additional skills and the right mindset.
Furthermore, if you can learn marketing and lead generation, your life will become much easier. Ideally, you want to generate leads while you sleep, using some type of automated lead generation system. This will keep your pipeline full at all times so you never run out of people to talk with.
If you are trying to do this to make a big income, you need to connect with MINIMUM 20 to 30 new prospects daily. You can do that in less than 2-hours a day if you have a game-plan. Where do you find these people? You learn marketing and lead generation so you have an endless supply of people to communicate with.
Finally, if you add the personal touch to everything you do, you will do even better. Work on your people skills. Show a genuine interest in others. Become more personable. And keep talking with new prospects! But… keep working the numbers as you do that.
# 2: You only need a few good leaders to create a six figure income.
Most top earners make MOST of their income from just 2 to 3 people on their team, even if they’ve sponsored hundreds of people personally. That is a fact.
How many people will you need to sponsor to find your 2 to 3 serious people? Everyone has a different number. Your number might be 20, 50, 100 or even 500 personally enrolled reps. I don’t know your number. No one does. You just have to keep recruiting UNTIL you find them.
Your goal is to find these two to three SOLID leaders as quickly as possible. The sooner you can do it the faster your business will grow. To ensure this happens quickly, make sure you never let a month go by where you don’t personally enroll at least two to four new business builders AND drive each leg of your team an additional 2-5 levels deeper.
More importantly, your leaders do not need to be personally sponsored by you. You should be “working through” everyone you sponsor and “taprooting” people whenever you can. People can lead you to people. Duds will lead you to studs. Keep driving each leg deeper and deeper UNTIL you find your leaders. This is a much easier strategy to use than recruiting hundreds of people yourself.
# 3: Work with the willing.
You cannot make anyone else successful in this business. I tried to do that. It almost killed me. All you can do is work with people who are coachable, hungry and willing to work. This represents no more than five percent of your team, if that.
How do you know who these people are? They are at every event. They attend every call and webinar. They call you with questions. They are actively recruiting and retailing each month. And, they go out and do what you teach them to do! What a concept!
Do not work harder for a team member than they are willing to work for themselves. If you are constantly pouring time, money and energy into helping certain team members, but they are still dabbling or stalling, go work with someone else instead. Your time is valuable. Spend your time where it is deserved, rather than needed.
And remember, it’s better to run with one than pull 20!
# 4: The fortune is in the follow up.
The fortune is in the follow up. You already know that. The average person will need to be followed up with at least 7 to 20 times BEFORE they make a buying decision. It is vital to know that every prospect is a prospect for life.
More importantly, you need some type of follow up system so you can stay in touch with every prospect until they buy, unsubscribe, or die! It is VITAL that you keep a database or names list of EVERYONE you ever talk to about the products or business, and that you know what stage of the follow up process they are currently in.
If possible, you want to automate part of your follow up process by using an auto-responder. That has worked incredibly well for me. You should also include handwritten notes, postcards, texts, emails, and Facebook messages. Stay in touch with people without using pressure, hype, or hard-selling and you will be amazed at how many people who initially told you NO will eventually join your team or become a customer.
# 5: You want customers, lots of customers.
Customers create volume, good retail profits, and require very little support or attention. Customers normally stick around longer than distributors too. That’s why you want to work with a MLM Company that is product focused and customer focused.
Remember, if no one buys the products, no one makes money. All legitimate MLM Companies have legitimate products that fill a NEED in the marketplace.
# 6: Duplication is a lie.
If duplication worked, you would sponsor 10 people and they would each sponsor 10 people. I’ve never seen that happen in 19 years. Have you?
This is how MLM works. You sponsor 20 people. 16 do nothing, 3 do a little bit and 1 does a lot. All the time you spend trying to get those 16 non-performers to do something is time wasted. Now you know!
Contrary to what you might have been taught, we are not franchising. You don’t want everyone on your team doing the exact same thing. Instead, you want to help each person find a strategy that works for them.
# 7: Success is about long-term focus, not the latest and greatest.
The BIG earners in our industry pick ONE company and they focus on it for decades. That is a fact. Jumping ship, chasing shiny objects, and promoting multiple deals leads to the road of nowhere.
LONG… TERM… FOCUS. Stop being a MLM Junkie and start acting like an entrepreneur.
Pick the company you want to have your problems with, because no company is perfect! This business is like a marriage. There will be ups and downs, but if you are committed, you can survive anything!
# 8: We are a business of ATTRITION.
Nearly 50-90% of your team will quit each year, regardless of how amazing your company, products, or team are. It just is what it is. Even with those numbers you can still build a big team and big check. Most people quit everything they do. This includes marriages, jobs, investing, weight loss programs, and almost anything else.
Your job is not to get everyone to stay. Your job is to ensure everyone has a good experience working with you and your company, whether they decide to stay or leave.team will quit each year, regardless of how amazing your company, products, or team are. It just is what it is. Even with those numbers you can still build a big team and big check.” ~ Chuck Holmes” width=”900″ height=”600″ />
# 9: MLM isn’t the best side hustle.
If you’re looking to earn an extra few hundred dollars per month, there are better business models than network marketing. You can drive for Uber, sell on Amazon, babysit, or get a part-time job. Those are FASTER and EASIER ways to earn some extra pocket change.
What our industry really offers is the leveraged, residual income. That is the power of our industry.
If you can catch the vision, and build a big team, you can live a lifestyle better than most millionaires do.
# 10: There are many ways to build your business.
No two leaders build their business the exact same way. Great leaders innovate. The real key to success in our industry is to leverage your talents, personality, and skills to find a business building strategy that works for you. Then your job is to help your people find a way to build the business that works for them.
It wasn’t until I started doing this about five years ago that I started to succeed in this industry. You have strengths, talents, and skills you can leverage to build a successful business. It’s your job to figure out what those are and apply them in your business.
# 11: Mindset is everything.
That thing between your two ears will either help you or hurt you in this business. Mindset is everything in business and in life. This is something most people struggle with. At a minimum, you need to:
- Believe in yourself
- Believe in your company
- Believe in your products
- Believe in the industry
You must overcome your confidence and worthiness issues. You must replace your years of negative programming with positive thoughts. The only way to do this is through personal development. Read books, listen to mentors, attend events, listen to training programs, and do whatever you can to replace your self-doubt and worthiness issues with positive thoughts. Make it a goal to get a little bit better every single day. It won’t happen overnight, but it’s vital that you do this.
My mindset is what held me back for more than 15-years in this industry. Don’t let that happen to you! Take your personal development as seriously as you do your kids! Your business will only grow as much as you do!
My Best MLM Wisdom
Here’s my best MLM Wisdom. Get in the trenches and stay there. Avoid management mode and analysis by paralysis at all costs. Instead of trying to manage your team, show them what they should be doing by your own personal example. Also, do not think you need to know everything to get started or be successful. You will learn more by giving 100 presentations than you could in 20-years just studying how to be successful in the business. The best leaders are always in the trenches.
In conclusion, these 11 tips are my best MLM Wisdom. I hope you found the information helpful. What are your thoughts? Do you agree or disagree with my MLM Wisdom? Leave a reply to this article in the comment section and let me know what you think. I look forward to hearing from you. Here’s to your success!
Network Marketing Professional (since 2002)
Author, Blogger, & Entrepreneur
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