Surviving your first year in network marketing is critical. Like ANY business, the first year is very important. The first year is typically the hardest, and it’s when the business owner is most vulnerable.
To be quite frank with you, I know of VERY FEW businesses that are/were profitable in their first year. And I’m not just talking about network marketing businesses either.
I’ve owned more than 10 businesses in my life and NONE of them were profitable during their first year. Had I judged all of these businesses based upon the first year results, I never would have succeeded. Of all the businesses I’ve owned during my life, all but one were turned into profitable business ventures. But it took time to succeed.
As a network marketing distributor, you really have to do what you can to help your team members survive their first year. If you can get people to stick around, and incubate, and make it past their first year, there is a good chance they will be with you for the long haul! And that’s exactly what you want.
Now, even if you have a game plan and do your best, lots of people will still quit in their first year, and many of those folks will quit within 90 days. When someone is set on quitting there is very little you can do. But, there are many things you can do with your team members to keep them from getting to this point.
Here are my best tips on how to survive your first year in network marketing and how to help your team members do the same thing.
# 1 Get people plugged into your system – The sooner you can get people plugged into your training and support system the better off you will be. If people are left on their own to figure things out, they typically won’t stick around very long.
# 2 Get people reading – Get your team members to be a student of their business. Recommend books, CDs, YouTube videos and other training materials. The more they can learn about the company, entrepreneurship and the industry, the better off they will be.
# 3 Get people to write down their goals and WHY – Get everyone on your team to write down what they want to achieve with the business. Help them discover their WHY for doing the business. Get them to give you a copy of their goals and why statement so you can remind them about it, when they are going through tough times.
# 4 Get people using the products – It’s a proven fact, people who use the products typically stick around longer, even if they don’t build a large business. Try to get people on auto-ship and ordering the products. This will help them build their belief in the products.
# 5 Get people to events – Getting your team members to attend local and national events is very powerful. This builds enthusiasm, excitement and momentum in your MLM Business. It shows the folks that there are lots of people building a business and helps validate their initial decision to join the business.
# 6 Help people build depth quickly – If you can light a fire in the basement, people are less likely to quit. If you can help a distributor build a group in depth, where they have something to lose by quitting, there’s a much better chance they will stick around.
# 7 Build a friendship – Let’s face it, it’s much harder to quit on a friend than it is to quit on someone you barely know. This business is about relationships, so do what you can to build a genuine true friendship with each one of your team members. Get to know them personally and invest time helping them, supporting them and talking to them.
# 8 Help them get a few retail customers – If you can help each team member find five to ten customers, they will make money each month and they will stick around.
Doing any or all of these eight things can really help you reduce the attrition rate in your business.
Just remember, getting people to survive their first year in network marketing (and in business) is more than half the battle.
If you can help people stick around past their first year, many of them will eventually build a successful business of their own.
What are your thoughts about helping people survive their first year in network marketing? Leave a comment below to tell me what you think.
*** This is part of a mini-series. Read the original post.