Todd Smith is a classy guy and a true ambassador to the network marketing industry. He’s a top earner with Unicity, and he’s been in our industry approximately 20 years now. More importantly, he’s earned over $20 million in commissions during his career, and he’s helped countless other people become successful, so he definitely knows what he is talking about.
I have never personally met Todd Smith, but I would love too! I recently watched a video of his on YouTube where Eric Worre spent some time interviewing him. I took several pages of notes and what I want to do in today’s post is share some of the lessons I learned from the interview. Each lesson will be in bold and italics. I’ll also provide my own two cents for each lesson. Enjoy.
# 1 Success begins with a burning desire. Without desire you won’t do the things you need to do to succeed. I learned this concept myself in the book “Think and Grow Rich.” Unless someone really has a big burning desire to get what network marketing can offer them, they will never do the work. Desire will keep you hanging in there through the tough times. Without desire, it’s easy to quit (or do nothing).
# 2 You can never get ahead exchanging time for money. Whether you are a doctor or ditch digger, if you don’t have residual income you will have to keep trading hours for dollars if you expect to get paid. That is fine, unless you can no longer work or no longer wish to work. Whether you make $200 per hour or minimum wage, you’re only ever going to actually get paid for the hours you actually work. You have no leverage. Not so with network marketing.
# 3 Be the kind of sponsor that you wish you would have had. This is such great advice. So many people bitch, moan and complain that they don’t have a great sponsor. Yet, these same folks act like a crappy sponsor to their own team. Having a good sponsor helps, but it’s not going to make you successful. It’s your business. You have to take ownership of your own business and set the example. Be a good sponsor for the people you bring into the business.
# 4 The only time it doesn’t work is when people quit. Network marketing is a weird industry. We are the only industry in the world that I can think of where people start a business and quit in 90 days or less. Would you start an accounting firm and quit in 90 days? I hope note. Would you open a barbershop and quit in 90 days? Hanging in there is nearly half the battle. The other half of the battle is getting off your butt and actually doing the work.
# 5 Have the discipline to do what you know you should be doing even when you don’t feel like it. So many folks let their emotions control their actions. That is a big mistake. If you only build your business when you feel like it, you will never build a business. It’s easy to let life get in the way. A smarter approach is to let your actions control your emotions. You don’t have to be motivated every day, but you do have to be committed every single day.
# 6 Handle yourself with honor and integrity. Do the right thing. Treat everyone you talk to as well as you would treat your own parent, spouse or child. Don’t lie or cheat others. Say what you do and do what you say. People are always watching you and it’s your job to set a strong example. As long as you always do the right thing you never have anything to worry about.
# 7 Your business will only grow as much as you do. This is a business of personal growth. You won’t hit your future goals if you don’t grow and change. For your business to grow you have to grow (thanks Jim Rohn). Work on your personal development and strive to get a little bit better every single day. Remember that you get paid for the value you bring to the market place. If you want to make more money, focus on increasing your value. You can increase your value by increasing your knowledge, skills, attitude, mindset, and education.
# 8 Measure your progress by how long you’ve spent talking with prospects, not how long you’ve been in the business. Just because you’ve been in the business two or three years doesn’t mean anything at all. Ultimately, it’s the amount of time you spent on the money producing activities that matters most. If you spend 2 years in the business and only showed the plan a few times, why would you expect yourself to be successful? Until you’ve shown the plan at least 100 times yourself, you haven’t even began your business (just my thoughts).
# 9 Don’t confuse activity with accomplishment. Anyone can be busy. And most people are. It takes a disciplined person to work smart. Every time you are working your business you should be focused on the money producing activities. Everything else comes secondary. In network marketing, and every other business, you get paid on results, not effort.
# 10 Don’t waste time with people who aren’t serious. Your time is your most precious asset. It’s your job to identify people who are serious and spend your time helping them. You should offer your help to everyone, but you should never work harder for someone that they will work for themselves. Match people’s effort, but don’t build their business for them. Manage your time wisely or it will control you.
# 11 Set the tone of what the relationship will be like. When you sponsor someone, you need to let them know upfront about what you expect from them. Tell them how you like to communicate, when to communicate, how often to communicate, and what your relationship will be like. Set boundaries and clear expectations. Let the other person know you are here to help them, but let them know you have limits as well.
# 12 Act as if you were already making the money you desire. This is such sage advice. If your goal is to make $20k per month with your MLM business, act like you are making that now. Just to clarify, I’m not telling you to spend money you don’t have. Nor am I telling you to tell people you are making more money than you are actually making. What I am telling you to do is to have the confidence and posture of someone who makes $20k per month. Dress like a success. Act confidently. Have good posture. Believe in yourself.
# 13 Prospects evaluate you more than they do the business. This is so true. In our industry, people join people. They don’t join businesses. You have to realize that your prospect is sizing you up, right from the first time you talk to them. They want to know that you are serious about the business, that you won’t quit or disappear, that you are committed, and that you can and will help them.
# 14 If you’re not getting together face to face with people your conversion rates will be low and your attrition will be high. Very few, if anyone has ever built a long-term, successful MLM Business online. Ultimately, you have to spend some face to face time, or on the phone or SKYPE, if you expect to solidify your relationships with people. Email, social media and technology are great, but nothing trumps personal relationships. If you do everything online, people will quit just as fast as they join.
# 15 This is a business of relationships. This is a marketing business UNTIL you sponsor someone. After you sponsor someone it quickly shifts to a relationship business. Your job is to build rock solid relationships with your team. It’s hard to quit on a friend. It’s nice knowing you have someone in your corner who actually cares about you.
# 16 Everything in life is a numbers game. Whether it’s dating, finding the perfect job, or anything else, life is a numbers game. Not everyone is going to be interested in what you have to offer. It’s up to you to sift and sort through the numbers until you find the right people to work with.
# 17 Strive for excellence at the little things that matter. The little things do make the difference. Make it your goal to get a little bit better every single day. Constantly find ways to improve what you say, improve your message and improve your skills. If you can master the little things, everything else will fall into place.
The bottom line is that Todd Smith is a legend in the network marketing industry. He’s a tremendous leader, coach, speaker and trainer. He’s been there, done that, and most importantly he’s helped many others achieve success in this great industry. He is exactly the type of sponsor or upline you would want to have in your business.
What do you think? Which quote listed above is your favorite and why? Leave a comment below to share your thoughts. I look forward to hearing from you.
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