Welcome to day # 3 of my MLM Boot Camp.
In yesterday’s training, we discussed why most people fail in MLM. Today, we will discuss what it takes to succeed in MLM.
I should clarify that success is different for each person. Everyone has different goals and dreams. For the purpose of this training, my definition of success is creating a six-figure residual income in your network marketing business that continues to grow year after year, whether you continue to work the business or not.
When you look at the top earners in our industry, who make six figures and beyond, you will find three major similarities. They have:
- Personally sponsored 100-300 people
- Been with the same company at least five years, and normally much longer
- They earn most of their money from 2-5 key people in their organization
Of course, there are a few exceptions to this rule, but this is the norm. Trust me. This is what a large MAJORITY of the top earners have done to build a big business.
If I had to boil down MLM Success into one simple sentence, it would be this:
Focus on one network marketing company exclusively and talk to 2 new prospects PER DAY, every day, for two to five years, so you can personally sponsor 100 to 300 people, of which 2-3 of those people will generate 80 to 90 percent of your income.
If you want to be successful in network marketing you need to master SIX BASIC SKILLS. That’s it. You need to:
# 1 Learn how to generate leads. Once you know how to generate leads, the business becomes fun. You need to pick a lead generation strategy that matches your time, skills and budget. There is no one right way or wrong way to get leads. Several examples include the three-foot rule, your warm market, Facebook, making YouTube videos, setting up at local events, etc.
# 2 Learn how to make retail sales. You must learn how to retail your company’s products or services. You don’t need to be a retailing machine, but you must learn how to give a presentation, follow up and ask for the sale. If you can’t look someone in the eyes and ask for the sale, you won’t survive in this business.
# 3 Learn how to recruit distributors. You need to learn how to recruit distributors. If you have enough leads flowing in, this is fairly easy to do. Recruiting comes down to finding a prospect, piquing their curiosity, sharing a third-party tool, and following up to collect a decision. You need to have enough prospects in your pipeline at all times that you can recruit at least one new distributor per week.
# 4 Learn how to build a team in depth. You need to learn how to taproot and build depth. This is when you work with distributors in your team to help them generate leads, make retail sales, recruit other distributors and build a team. The best way to do this is to work with your newest, most excited distributor at the deepest level of your organization.
# 5 Learn how to stay focused and disciplined. For most people, this will be their biggest challenge in the business. You must put on your blinders, ignore other opportunities and shiny objects, and do the work, even when you don’t feel like it. You also must learn how to manage your time!
# 6 Learn how to teach. The final skill you must master is TEACHING. This is really a teaching business. Your job is to teach your people how to teach their people how to teach their people to build a business. If you can do that you will build a big business.
The way that you master all of these things is PERSONAL DEVELOPMENT. This is the glue that helps you grow and keep everything together. Your business will only grow as much as you do. You learn and grow by staying in the trenches, learning from your mistakes, working with a mentor, reading, watching training videos and attending events.
In review, this article covers the secret to success in network marketing. Success is simple, but never easy. It’s about doing a few simple things over and over and over and over UNTIL you have mastered them. By the time you master all six of these skills, you will more than likely have a big team.
In tomorrow’s training, I will outline two separate strategies you can follow to get your business up and going. Either strategy will work. You simply need to pick the one that’s best for you.