Today, I want to teach you about the money producing activities in network marketing.
This information could be life changing if you actually learn it and APPLY it in your network marketing business.
I learned a long time ago that not all activities are created equal. Some activities grow your network marketing business while other activities completely waste your time.
You have to understand that there is a huge difference between being productive and being busy.
Everyone is busy, yet few people are really productive.
You can do busy work with your job and not get fired.
But, if you are an entrepreneur you will NEVER get paid for busy work. Instead, you have to focus on income producing activities.
Just like the Root Beer.
Since you are more than likely building your network marketing business part-time, you have to learn how to work smart.
There is only so much time in a day and you want to make sure you are doing things that will actually make you money and move your business forward.
Let me start by telling you what is NOT a money producing activity:
- Talking with your upline
- Talking with your cross-line
- Watching YouTube videos
- Searching the internet for information
- Cleaning your office
- Spending time on Facebook
- Getting ready to get ready
- Calling the same person 20 times
- Sorting your files or leads
- Sitting at your desk staring at the phone
- THINKING about your business
These are just a few examples of activities that do NOTHING to actually grow your business.
I’m not saying these activities aren’t important. I’m not saying you should never do any of these things.
Just realize you should only do these “non income producing activities” AFTER you focus on the money producing activities.
They should be done during your non-productive time, ignored, or outsourced.
WHAT ARE THE MONEY PRODUCING ACTIVITIES?
So what are the money producing activities in network marketing? Here they are as I see it.
- Showing the Plan
- Following Up
- Training Your Team
- Getting Customers
I will cover each topic in greater detail below.
# 1 Prospecting
This includes any activity where you are meeting NEW people to share your products or business opportunity with.
You could do this at events, online, on Facebook, by cold calling, or in person.
It does not include calling your Aunt Nelly for the 40th time to see if she is finally ready to sign up. Learn more about prospecting.
# 2 Inviting
This is one of the most important activities you can focus on if you want to build a big and profitable network marketing business.
This is when you invite someone to attend a presentation, watch a webinar, join a conference call, etc.
Show me someone who can master this one skill and I can show you someone who will be very successful in their business. Learn more about inviting.
# 3 Showing the Plan
This is a very important step in the process.
This is where you EXPOSE people to the products and business opportunity so they can make an informed decision as to whether or not it is a good fit for them.
You can do this in person, have your upline help you, or use an audio or video to show the plan.
I highly suggest you use a third party tool for all presentations.
Remove yourself from the equation so you can be the messenger, not the message. Learn more about showing the plan.
# 4 Following Up
The money really is in the follow up.
You’ve probably heard that before.
The truth of the matter is you will probably have to follow up with your prospects 5-20 times before they join or buy.
Every time you follow up with someone, they are one step closer to buying or joining.
Whatever you do, don’t expect people to sign up on the spot.
# 5 Training Your Team
Training is a very important step if you want to build a big team.
Most people need to be told EXACTLY what to do.
Most distributors will require a tremendous amount of hand holding, encouragement, babysitting, and support.
Make sure every new rep gets their initial training.
Do a weekly call.
Get people attending events.
Train your team in a group setting whenever possible.
Save your one-on-one time for your producers.
# 6 Getting Customers
This is definitely a money producing activity.
You need lots of customers, at least five to twenty personal customers.
After all, what would your team look like if every distributor had ten customers?
Getting customers will make you profitable and it will also duplicate in your team.
If you don’t have customers, you don’t have a business (just my thoughts).
By all means, focus on recruiting others, but realize that you only get paid when products are moved.
I believe every rep should be required to find five to ten customers before they sponsor any distributor.
ARTICLES YOU WOULD BE FOOLISH NOT TO CHECK OUT:
- The money is in the list
- How to make money even when people don’t join your team
- Is MLM easy money?
- How long does it take to make money in MLM?
MANAGING YOUR TIME
What I think you should do is spend at least 90% of the time you work your business on money producing activities.
For instance, if you are working your business 10 hours per week, you should spend nine hours of that time on money producing activities and the remaining hour on other things.
The more time you can spend on the money producing activities the better off you will be.
And the more money you will make.
Do the most important things first and then do the remaining tasks that aren’t as important.
A lot of network marketers really fool themselves.
They spend all of their time THINKING about their business, or doing low priority tasks, and then they wonder why their business isn’t growing.
Don’t make the same mistake.
Focus your time, money and effort on tasks that actually grow your business.
What are your thoughts? What do you think are the money producing activities in network marketing? Leave a comment below to let me know what you think. I look forward to hearing from you. Have a super awesome day.