If you’re wondering what it takes to build a six figure MLM Income, I can share a few pointers with you.
I failed for more than 15-YEARS in this AMAZING industry. How pitiful. Looking back, it didn’t have to be that way. However, I’m glad for the failure, because of the personal growth it resulted in.
I’m happy to share what I believe it takes to succeed in network marketing (six figure MLM Income), in hopes it will benefit at least one person reading this message.
I want to discuss some basic qualities, attitudes, mindsets, and skills you must master to build a big team and six figure MLM Income.
Of course, I can’t guarantee your success (for the lawyers reading this). No one can do that. But I do believe these things will significantly increase the likelihood of you developing a six figure MLM Income. However, individual results will vary.
How to Develop a Six Figure MLM Income
# 1: Vision
One of the cornerstones of every successful entrepreneur is seeing things before they exist. This is known as VISION. It’s knowing WHY you are doing what you are doing AND knowing where you want to end up.
Every top earner in our industry knows their why. They have a crystal clear vision for their business. This keeps them motivated and on point.
When you know your why, you become unstoppable. Your why keeps you motivated and keeps you working in the trenches UNTIL you hit your goal. On the other hand, when you don’t know your why, it’s easy to give up at the first sign of defeat.
A vision is a vivid mental image of something that you would like for the future. It is more than just a goal, but rather the embodiment of hopes, dreams and aspirations in a certain domain; an idea of what has not happened yet, but may and should hopefully come to pass at some point. It encompasses the goals and objectives that someone wants to attain or carry out mid- or long-term. It helps us grow and improve, and offers us glimpses of what might come.
In business, having a clear and definite vision is essential. It gives everyone focus and prevents them from heading in the wrong direction. It serves as a clear guide for current and future courses of action.
Source: Medium
# 2: Delayed Gratification
Some people might call this sacrifice. We live in a world where people expect instant gratification. We want it and we want it now.
Building a successful business of any kind does not work that way. It typically takes several YEARS to get any new business off the ground. If you have the lottery mentality, you’ll never succeed in your network marketing business long-term. Instead, you’ll be one of the many MLM Junkies out there, jumping from company-to-company every few months.
Remember, anything worth accomplishing takes time, money, perseverance, and TONS of hard work. If it was easy, everyone would do it.
Pick the company you want to have your problems with and stick with. Plant your flag somewhere and press on. There will be issues at some point or another REGARDLESS of what company you join. If you jump ship every time there is an issue, you won’t survive in any company or business long.
You may have heard the age-old marshmallow experiment, which revealed a connection to delayed gratification and life success. Children were sat in a room with a single marshmallow on a plate and were told they could eat it now, or wait 15 minutes to receive two marshmallows. The study found that the children who waited had better overall health, and scored higher on standardized tests later in life.
Think about it, the best things that have ever happened to you were likely things that you worked for, that emotionally tried you and physically taxed you. When you finally received the reward, all of the struggles were well worth it.
Source: Forbes
# 3: Skills
Every entrepreneur in every industry needs a specialized set of skills to succeed in their chosen endeavor. This is known as specialized knowledge.
The good news is you don’t have to be born with these skills or possess these skills when you first get started in your business. But, you must master a basic set of skills to succeed in MLM, or anything else. Fortunately for you, there are only a few basic skills you need to master to succeed in MLM.
This includes:
- Lead generation
- Inviting
- Presenting
- Following-up
- Closing
- Launching new reps
- Promoting events
- Retailing products
The best way to learn these skills is to get in the trenches. Learn by doing. And, listen to your trusted mentor. Read daily, attend events, and be a student of your business.
The reality is to master network marketing, really only takes a few skills and applying them consistently in your business. Understand that becoming a top earner in network marketing takes time and there is a learning curve involved.
The good news is, that once you develop the skills of network marketing success you have them forever. Your network marketing business will have ups and downs like anything else, but if you are consistent and apply the right skills, you can eventually reach your goals.
Source: CoachMikeMacDonald.com
# 4: Commitment, Follow Through, & Focus
I put these three attributes together. Commitment means sticking with something, even after your initial enthusiasm has faded.
Follow through means doing what you said you were going to do, even when you don’t feel like it.
And focus means FOCUSING on ONE THING until you achieve it.
These three areas are quite perhaps the most common reasons people don’t succeed in MLM. They lack the commitment, follow through, and focus. They are in search of shiny objects or something for nothing. Or, they expect everything to be quick and easy.
You will find that successful entrepreneurs master these three things. They are 100% committed to their chose profession. They are all in. They follow through day in and day out, month in and month out, year in and year out UNTIL they hit their goals. And they are 100% focused on ONE BUSINESS. They don’t do multiple deals.
Why is your commitment level such an important factor in your success? It is important because depending on how committed you are, your actions will change. You will do more productive activities when you have a higher level of commitment than you ever would with less commitment. Your mind and actions change because your focus has changed.
Source: Editorialtoday.com
# 5: Followership
Before you can lead, you must learn to follow. I learned this lesson in the Army, but I was thick headed when it came to MLM.
I tried to do everything my own way, right from the beginning. I did this for more than 15-YEARS. How embarrassing.
Had I been wiser, I simply would have humbled myself and listened to my mentors sooner (and did what they taught me).
No one is going to follow you if you can’t humble yourself enough to submit to someone else’s leadership or authority. Food for thought.
Network marketing is a business of duplication and works best when kept simple. You may get an inclination to complicate it by trying to do your own thing. But that will not work out well for you. Always follow your upline’s system and be smart enough to seek advice from someone successful in your upline and do what they teach you.
Source: Lead MLM Software
# 6: Leadership
Ultimately, we are a leadership business. Customers and part-timers come and go like the common cold, but leaders are where your REAL residuals come from.
Successful network marketers are LEADERS. They might not have started out as one, but they CHOSE to become one. They set the pace and always lead by example. They work on their personal development daily. They set big goals and improve daily.
Furthermore, they are constantly looking for up and coming leaders in their team (and prospect list) to develop and nurture. Everything in our industry rises and falls on leadership.
You have to be a leader, or at least exhibit some of the qualities of a leader, while prospecting at the very beginning or you’re not going to get the success you want or attract the right people to your organization.
# 7: Systems
Systems are the key to success in EVERY business. Talents and personalities do not duplicate in network marketing, but systems do. Successful reps follow a system and they have a system for their team. They do not deviate. They know the system is the solution.
Your sponsorship line has learned what works and what doesn’t. They have created the system based upon that experience. Follow the system and you have the resources of the entire sponsorship line working for you. If you change the system — you lose the benefits of having all those resources at your disposal. Also, when you change the system — substituting a different tape, changing the presentation, etc. — you send a message to your people that it’s OK to change the system.
# 8: The Numbers
Here’s the final thing it will take to succeed in network marketing. Will you (not can you) talk to five to ten prospects per day, five to six days per week, for five to ten years? Will you work the numbers? Only you can answer that question.
You see, this business is a numbers game initially. Once people join, it becomes a relationship business, but you have to go through the numbers to find those people.
Will you work the numbers? Will you keep talking to new prospects even when everyone is telling you no or quitting? Will you keep following up? Will you make a commitment to sponsor 3-4 new business builders EVERY MONTH until you hit your goals?
That is your choice. You must work the numbers. There is no alternative. Even if you do everything else on this list, if you don’t work the numbers, you will not make it to a six figure MLM Income. This is the secret.
Someone with no skills can succeed in network marketing if they work the numbers. On the other hand, even the most talented person will fail if they don’t work the numbers.
Reap what you sow! What does that mean? It’s vital you keep prospecting to keep the funnel full. The prospecting funnel is the life-blood of your network marketing business. It’s the heartbeat of your business.
Source: Streetdirectory.com
Conclusion
In review, these are things you must do develop a six figure MLM Income, as I see it. The decision is yours. Anyone CAN do these things if they DECIDE to, but most people WILL NOT make that decision.
If you do, you will be happy that you did and you will be well on your way to developing a six figure MLM Income. And if you don’t, you will more than likely end up a statistic. Choose wisely.
What are your thoughts? Do you agree or disagree? Leave a comment below to let me know what you think.
As I mentioned earlier, this is just my opinion. Individual results will vary.
Other Posts You Might Enjoy:
- Six Figures in Six Months
- Paul Orberson, The MLM Legend
- How to Build a Network Marketing Business by Jim Rohn
- My Best Recruiting Tips
- Must Read MLM Books
Sincerely,
Chuck Holmes
Network Marketing Professional (21+ years)
Top Recruiter & Top Rep
mrchuckholmes@gmail.com
My long term goal in my MLM is to build a six figure residual income. You made some really great points in this article. Something I struggle with regarding this subject is, I feel like I should be further along than I am. I then think back to my previous company I was with for 5 years, and remember I have made more money with my current company in less than 2 years, than I did in 5. Sometimes sitting back and looking at things in a different perspective helps you realize you are on the right track.
Yes, it’s easy to be hard on yourself. Think what the next two years will be like if you keep chugging along and putting in the work? Things will get much easier. They say it takes 10,000 hours to truly master a subject or industry and become an expert at it. Considering you’ve been doing this part-time, you probably still have a few years to go to get to that mark and start earning the big money. Hope that helps.