Today’s post is about starting over in MLM. During a team event this past weekend in Orlando, Florida, I did a training on what I would do differently this time around if I was starting over in MLM. Due to the popularity of the class I gave, I figured I would share some of my notes on this website to help my readers achieve success in their business. What you will see below are 20 things I would do differently if I was starting over in MLM today, knowing what I know right now.
Starting Over in MLM: What I Would Do Differently
# 1 Join the Right Company at the Right Time
Lesson Learned: I would join the right MLM Company at the right time, before it was a household name and hit momentum and critical mass, but AFTER it had been in business a few years. Insights:
- You want to be a in a company BEFORE the whole world knows about it.
- Established, older network marketing companies are solid, but harder to grow because everyone has preconceived notions about the company.
- Ground floor opportunities are very risky.
- You want a company that is at least a few years old, and has worked out most of its kinks, but hasn’t hit massive growth yet.
- The big money is always made by the people who get in EARLY and do the work.
# 2 I Would Avoid Shiny Objects at All Costs
Lesson Learned: I would not be tempted by promises of fast or easy money or something for nothing. I would put on my blinders and focus ONLY on the company I am building. Insights:
- Shiny objects are everywhere.
- The average person gets pitched (or exposed) at least 10-50 times per day on new DEALS.
- Do not get the “junkie” mentality like a crack addict, always looking for your next fix.
- The lust phase never lasts in relationships, life or business.
- Successful people stick with one thing until successful.
- No business is fast, free or easy. All businesses take time, money and hard work to succeed.
# 3 I Would Treat My Business Like a Million Dollar Business
Lesson Learned: I would take my business much more seriously, much sooner. I would act as if I had ONE-MILLION DOLLARS invested in my business and I had one year to earn it back. Insights:
- Most people do not treat their business seriously, because they do not have much money invested.
- It’s easy to put your business on the back burner and let life get in the way when you only have $50 to $500 invested.
- Do not think of this as a hobby or little part-time thing; think of it as a Fortune 100 company.
- Non-committed people attract non-committed people and serious people attract serious people.
- Even if you are part-time, have a full-time attitude.
- Act as if you just bought a multi-million dollar McDonald’s franchise.
# 4 I Would Master My Skills as Quickly as Possible
Lesson Learned: I would master the basic skills of prospecting, inviting, presenting, closing, retailing, recruiting, training and leadership quickly. I would be a student of my profession and learn everything I could about it, as quickly as possible. Insights:
- Skills pay the bills.
- All professions require a certain skill-set to be successful, MLM is no different.
- The best way to learn the skills is by doing; get in the trenches and stay there.
- You can study something until the cows come home, but until you go out and do it, you won’t learn much.
- Your first year in the business is MLM University; give yourself time to learn and master the basic skills.
- The beauty of our industry is you can earn while you learn.
# 5 I Would Recruit 2-4 New Reps Every Month
Lesson Learned: I would never let a month go by where I did not personally recruit at least 2-4 new reps. Insights:
- Most top earners who have recruited hundreds of people in their career have simply recruited 2-4 new people every month over a sustained period of time.
- New blood is the lifeblood of your business.
- As a leader, you must set the pace and keep recruiting; never stop your personal recruiting, ever.
- New recruits will solve most of your business problems.
- If your business is stagnant, go out and build five new legs quickly.
# 6 I Would Recruit Up
Lesson Learned: I would look for better quality prospects. Instead of looking for broke, down and out folks, I would focus on recruiting leaders and doers: people with credibility, contacts and a large sphere of influence. Insights:
- People who are successful in their career typically do well in our industry.
- Success is a mindset.
- You want a team of people sharper than you.
- Who would you pick if you were looking for a CEO for a $100 million company your family owned?
- Quality people typically lead to more quality people.
- A few quality people can earn you six figures in this industry.
# 7 I Would Go Deep, Not Wide
Lesson Learned: I would focus much more attention on building depth than building width. I would spend more time helping people in my team recruit than just me personally recruiting. Insights:
- Width is for show, depth is for dough.
- Work at the deepest level in your organization with the newest, most excited distributor.
- The deeper you go, the more stable your check and business is.
- Light a fire in the basement and watch the heat rise.
- The only way to permanently motivate people is to give them something to lose by building depth.
- Most top earners make 90% or more of their income from just 1-3 legs.
# 8 I Would Think Much Bigger, Much Sooner
Lesson Learned: I would think bigger much sooner. Instead of thinking small and worrying about today’s money problems, I would think much bigger and take the long-term view with my business. Insights:
- Spend time with successful reps who think big and avoid the people who are negative and complaining.
- Don’t let today’s problems prevent you from long-term success in life and business.
- Make sure that every decision you make about the business is based off what’s best for the long-term health of your business.
- You’ll overestimate what you can do in a couple of years and underestimate what you can do in five years.
- Get rid of the Instant Gratification mentality that most people have.
- Get rid of your self-limiting beliefs.
- Read the book “The Magic of Thinking Big”
# 9 I Would Set Written Business Goals
Lesson Learned: I would have written goals for my business and life. Insights:
- Write down your why and what you want from your business and read it daily.
- Create a dream board or vision board.
- Write down your 1 year goals for your business.
- Set monthly goals for your business.
- Set weekly goals for your business.
- Set 1-3 daily goals to keep you on track.
- Keep track of your progress each month so you can see how much you have grown.
- Without written goals you are planning to fail.
# 10 I Would Set a Work Schedule for My Business
Lesson Learned: I would create a work schedule for my business, just like I have with my job. Insights:
- We are all creatures of habit; our habits determine our success, or lack of it.
- At your job, you have a work schedule and if you don’t work you don’t get paid.
- You need to set business hours and know exactly what you are going to do each day to grow your business.
- Plan out your week every Sunday night, determine what days you will work your business, at what times and what you will do during your work hours.
# 11 I Would Approach 10-20 Prospects Every Day
Lesson Learned: I would approach 10-20 people per day about my products and business, at least six days per week. Insights:
- We get paid to talk to people; if your mouth is closed your business is closed.
- You need to have a few ways to get leads so you always have people to contact.
- Talk to some people make some money, talk to a lot of people and make a lot of money.
- The top earners simply approach more people and get more Nos.
- Yes is the destination, NO is how you get there. Go for No!
# 12 I Would Find & Follow a Successful Mentor
Lesson Learned: I would choose a mentor, humble myself, and do what they teach. Insights:
- Don’t reinvent the wheel; find someone who has achieve the level of success you want and do what they did.
- All successful people have mentors.
- Pick a mentor in your UPLINE because they have a vested interest in helping you succeed.
- You must be a good apprentice before you can become proficient at what you do, and then become a leader.
- You must learn to follow before you can lead.
- A good mentor can help you become successful much quicker than trying to figure out everything on your own.
# 13 I Would be Committed to My Personal Development
Lesson Learned: I would work harder on myself than I did on my business. Insights:
- Personal development is everything.
- This industry is a personal development course with a compensation plan attached to it.
- Your business will only grow as much as you do.
- Set aside time and money for daily personal development.
- Enroll in automobile university, read books, listen to CDs and videos, talk with your mentor, etc.
- Become an avid reader, even if you don’t enjoy it.
# 14 I Would be Persistent and Consistent
Lesson Learned: I would do SOMETHING to grow my business each and every single day, no matter what, no excuses. I would never start and stop, start and stop. Insights:
- Stopping and starting is the kiss of death in your business.
- The people who succeed in this industry are the people who show up day in and day out over a sustained period of time.
- Success is about doing a certain few things over and over and over.
- Everything you say, think and do is either moving you closer to your goals or further from them.
- How much money would you make if you owned a restaurant, but it was only open a few hours per week?
# 15 I Would Not be a Lone Wolf
Lesson Learned: I would not be a lone wolf and try to do everything by myself. Insights:
- I would stay plugged in with my ACTIVE upline at all times and learn from them, rather than trying to reinvent the wheel.
- Network marketing is a team sport, do not be an island.
- Surround yourself with other movers and shakers and be a sponge; learn everything you can from them.
- You are a reflection of the FIVE people you spend most of your time with.
- I would talk with my serious team members and upline every single day.
# 16 I Would Focus on ONE Opportunity Exclusively
Lesson Learned: I would focus on ONE opportunity exclusively, instead of trying to create multiple streams of income. Insights:
- Do not promote multiple deals at once.
- Do not keep switching companies.
- Don’t get lured away by the multiple streams of income myth.
- Pick one thing and stick with it until you succeed.
- Could you imagine an Olympian training for 2-3 sports at the same time?
- Could you imagine being married to 2-3 people at the same time?
- Focus is essential to succeed at anything in life.
# 17 I Would Attend All Events
Lesson Learned: I would attend all events, no matter what. Insights:
- Either you need the event or the event needs you.
- Events are where people make the decision to build a big business.
- Learn new skills, meet new people, have fun and build your belief in the business.
- We are an event driven business.
- Even if you don’t think YOU need the event, most of your team members do.
- Attend all company events and a few generic ones too.
- For every person you have at an event your team will multiply by 5x during the next 12-months
# 18 I Would Have a Mastermind Team
Lesson Learned: I would develop an inner circle (mastermind) of 3-5 serious people who are as committed and serious as I am. Insights:
- Two to five people working toward a common goal is much more powerful than just one person working by themselves.
- Mastermind with your upline, you and a few serious people on your team.
- Encourage each other, hold each other accountable and be supportive.
- Iron sharpens iron.
# 19 I Would Study Marketing & Lead Generation
Lesson Learned: I would study marketing and become a master at generating leads, both online and offline. Insights:
- The person who can get the most leads wins.
- Marketing principles apply to MLM, just like every other business.
- It’s much easier to sponsor someone when they call you first.
- There are thousands of ways to do marketing and lead generation; pick what works best for you.
- Read marketing books, attend marketing events, etc.
- Study DIRECT RESPONSE MARKETING (Dan Kennedy).
# 20 I Would Build a List
Lesson Learned: Your most valuable asset is your list. Insights:
- Keep track of EVERY person you ever talk to about your products or business, even if they tell you no.
- Keep track of every person who ever joins your team.
- Maintain a names database, keep it updated and stay in touch with people.
- If you talk to five people a day for a year, that is 1,825 names in your database in just one year.
- Do that for 5-years and you have almost 10,000 names.
- Stay in touch with EVERY person in your database at least once every 90 days.
- Many people who tell you NO today will eventually tell you YES if you stay in touch and are a professional (no hype or pressure).
There you have it folks. These are 20 things I would do differently if I was starting over in MLM, knowing what I know now. What is your favorite lesson? What you would do differently if you were starting over in MLM? Leave a comment below to let me know what you think. I look forward to hearing from you.