Top 5 Fundamentals of a Successful MLM Business

Today, I want to talk about the fundamentals of building a successful MLM Business.  I’ve been in this industry a long time now and I’ve studied hundreds of successful distributors.

The one common theme I find with them is that they focus on the fundamentals.  They keep things simple and they focus on the basic tasks/things that propel their business forward.

A fundamental is “a central or primary rule or principle on which something is based.” In my own words, I like to think of a fundamental as a basic “building block” or “essential task” you need to focus on to build your network marketing business.

For example, the fundamentals for a defense in football are:

  • Alignment
  • Tackling
  • Block Destruction
  • Pursuit
  • Creating Turnovers

Some of the fundamentals in basketball are:

  • Shooting
  • Dribbling
  • Passing
  • Rebounding
  • Footwork
  • Defense

The most successful sports teams focus on the fundamentals.  Once you master the fundamentals in something, everything else will fall into place.  And if you can’t get the fundamentals figured out, nothing else will work very well.

When it comes to network marketing, there are only a few fundamentals that you need to understand and master.  As I see it, there are five basic fundamentals in network marketing which include (1) prospecting and lead generation, (2) inviting, (3) showing the plan, (4) following up, and (5) duplication.

In the paragraphs below, I will cover each fundamental in more detail.

# 1 Prospecting & Lead Generation

Knowing how to generate leads is quite perhaps the most important fundamental in network marketing.  Without a constant flow of new leads your business is doomed to fail.  At the end of the day, it’s the person who is the best at generating leads that will have the highest likelihood of succeeding in our industry.

There are many ways to prospect and get leads for your network marketing business.  A few popular methods include: (1) approach strangers via the three foot rule, (2) place ads in newspapers, (3) do home parties, (4) generate leads on Facebook, (5) buy leads, and so much more.

The real key to success is to pick a prospecting or lead generation strategy that you feel comfortable doing and then MASTER that one strategy.  Get so good at it that it comes naturally to you, and works every time.

# 2 Inviting

Inviting is another important MLM Fundamental.  Once you have leads and prospects you must know how to invite them to listen/watch a presentation that explains the products or business opportunity.  Even if you aren’t good at showing the presentation yourself, you can use your inviting skills to get people to watch a webinar, attend a meeting, or listen to your upline give a presentation.

# 3 Show the Plan

This is the only “questionable” fundamental on this list.  I don’t believe you HAVE to know how to give a presentation to your prospect to succeed in network marketing, but it sure does help. With today’s technology, you can send anyone to watch a video or webinar that explains more about what you do.  That being said, once you know how to give a presentation yourself, you are off to the races and control your own destiny.

# 4 Following Up

The money is in the follow up.  How many times have you heard that before?  It’s so true.  This is one of the most important fundamentals on this list.  The best network marketers are really good at following up with people.  They realize that most people need at least seven to twenty exposures to something before they commit and buy. Learning how to follow up effectively, without begging or chasing people is a very valuable skill to have.

# 5 Duplication

Duplication is another important fundamental in network marketing.  Duplication is what builds fortunes.  Anyone can sponsor someone, but a good network marketer has a good game plan in place so that new person can also sponsor others and duplicate themselves.  This really comes down to having a good system in place that you can follow and working closely with your new team member their first 90 days in the business.

Final Thoughts

If you want to be successful in network marketing, you need to MASTER these basic five fundamentals.  It won’t happen overnight, but if you take the time to educate yourself and work in the trenches every single day, you would be amazed at what you could accomplish in just a few short years.

Remember to keep things simple.  Don’t complicate this business.  Stick to the fundamentals and you will do very well.  Over-complicate things and you will get frustrated and burnt out.

What do you think?  What do you believe are the most important fundamentals in network marketing?  Leave a comment below to share your thoughts.  I look forward to hearing from you.

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10 thoughts on “Top 5 Fundamentals of a Successful MLM Business

  1. Greg Boudonck

    To truly commit yourself to these basics means being ok with yourself. I recommend that when a person wakes each morning, they speak positive affirmations to themselves. They should also exercise and eat a good breakfast. By doing these things, you will feel good about yourself which will make it easier to tackle these basic fundamentals. I also believe that dressing sharp helps a lot too.

    Reply
  2. Greg Boudonck

    You know Chuck, out of all these basic fundamentals, I believe the most difficult one for most network marketers would be inviting. For some reason, many people get fearful when they find themselves in the position of inviting. I believe it is the fear of rejection. One of the first things I had to realize is: what harm will the word “no” do to me? It is just a simple word, but we as people seem to fear it more than most other things in life.

    Rejection is a fact of life, and to be successful, we all need to realize there will be rejection. We need to just face it and deal with it head on. For every 10 nos we hear, odds are, we will get 1 yes. Keep our eyes and minds focused on getting through the nos and we will get the yes we seek.

    Reply
    1. Diamond Grant

      More people really just need to take the pressure off of themselves when it comes to tasks such as inviting or initiating conversations in general. I think people are thinking about how big that moment is for their business that they forget the simplicity of striking up a conversation, being genuine, and leading with the product.

      Reply
      1. chuckholmes Post author

        The simpler we can make the business the better. You are right Diamond, most people do overthink this business. Success comes down to having natural conversations with people.

        Reply
  3. Diamond Grant

    You have to have the boldness to go out there and converse with people. You cannot hide behind the internet or social media or the phone. Face to face contact is the best way to generate leads/prospects. And along the same lines is having the ability to give presentations without fear or hesitation. It is a skill that some people have to build while other people are naturally able to reach out and connect with others. But I have found that since I stepped out of my own comfort zone as a reserved person and been able to connect with people, I have had much success in generating leads and turning those prospects into actual business partners or team members.

    Reply
  4. Greg Boudonck

    You know, sometimes we as humans can take something that is actually quite simple and make it super complicated. You did hit on a great subject in this post. We often called this all the KISS principle. Keep It Simple and Stupid.

    I do believe that a network marketer does need to know how to show the plan. It is my opinion that after generating the leads and inviting the prospect, prospects may get “turned off” if they only watch a webinar or a video. I believe you will gain more respect from the prospects if you give the presentation.

    Great post.

    Reply

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