Today, I want to educate you about the three pillars of a healthy online MLM business. Please keep in mind this advice is ONLY for people building their network marketing business online like I do. If you are just using old school methods (which still work great) than please IGNORE this advice.
I’ve been building my MLM Business online for about five years now. I’ve done more things wrong than most people, and that’s one of the reasons I’ve become successful. Each mistake has been a stepping stone for me to learn from. I make it a point to mess up a lot, but try to never make the same mistake twice.
Through the years I’ve learned one VERY valuable lesson, mostly through trial and error, but also from my mentors. That lesson is that a healthy online MLM business has THREE PILLARS of success. Each pillar is separate and unique from each other, but works well when combined with the other pillars to build a successful online network marketing business. In the paragraphs below I will cover each pillar in greater detail.
Pillar # 1: Your Email List
The first pillar is your list. This is your email list. Whether you build your business by blogging, podcasting, Facebook PPC, YouTube, solo ads, or any other online method, your number one focus is to build a list. This is a group of people in a specific target market who are interested in learning more about what you do.
Your goal is to do everything in your power to get people to subscribe to your list. You can typically do that by giving away something of value for free, such as a free boot camp, eBook, video series or something else.
As you build your list, your number one goal is to build a good relationship with your list. You do that by offering value. You share your knowledge and educate others. As time goes on, the people on your list get to know you, like you and trust you. As that happens you can monetize your list and make money by recommending affiliate products and your business opportunity.
Pillar # 2: Affiliate Products, Training Products and Systems
I like to define this pillar as the multiple streams of income pillar. It is very difficult to build a profitable and sustainable online network marketing business if you are just building your primary MLM Company. You need to promote multiple things, specifically, affiliate and information products, in addition to your MLM Company. This gives you a way to make money even when people tell you NO to your business.
Here’s what you should know. No matter how good YOU are at recruiting and closing, most of the people on your list will never partner up with you and join your team as a customer or distributor. That’s why you need to promote multiple things. Keep in mind I am NOT talking about promoting multiple MLM Companies. Instead, you want to have several options people can buy such as:
From personal experience, I make MORE from these things than I do with my MLM Company.
I like to call this the “picks and shovels business.” The truth is, there is a lot of profit available in the picks and shovels business, in many cases, even more than you can make with your MLM Company.
What’s important about this pillar is that it lets you make money from all the people who subscribe to your list, but DON’T join your MLM Company. Does that make sense?
Pillar # 3: Your MLM Company
The third pillar is your MLM Company. You need to know this secret right now. Network marketing is a THREE to FIVE YEAR plan (minimum), not some overnight plan. It takes time and lots of hard work to build a huge team of customers and distributors, normally several years.
If you don’t have an additional way to make money in your business during this time, you will either go broke or quit! That’s where the multiple streams of income comes in handy. It keeps you in the game while you build up your team of distributors.
You should also know that the big long-term money is in your MLM Company, not the affiliate products. Don’t let anyone tell you otherwise. It just takes a while to build up your network marketing business to the big money levels. These extra income streams simply keep you profitable and in the game WHILE you build a team! Learn more about how to find the right MLM Company.
One Extra Point
Your REAL BUSINESS is your list. It’s the list of people who “opted-in” to your email list and gave you permission to stay in touch with them on a regular basis. More importantly, it’s the RELATIONSHIP you have with the people on your list that matters most! When you have a large, targeted email list of people who know you, like you and trust you, the sky is the limit in your business and earnings potential.
I would give up my blog and downline BEFORE I ever gave up my email list. When you own a list, you will never have to worry if your MLM Company goes bankrupt. You never have to worry about getting terminated or switching companies. If either of those things ever happen you can start over in a new company with ease! Learn how to build your own list.
Once again, these three pillars are for people trying to build an online network marketing business. When done right, the three pillars work hand in hand to support each other. They are really the FOUNDATION for a successful and long-term online network marketing business. I use these pillars myself and I hope you will do the same.
What are your thoughts? What do you think about these three pillars to success in online network marketing? Leave a comment below to let me know what you think. I look forward to hearing from you. Have a great day.