Today, we’re going to discuss the top 7 priorities in your MLM Business, as I see it.
As a network marketer, what should your priorities be? In other words, what activities should you focus on so you can be successful and productive in your business?
I believe that most successful network marketers have similar priorities, even if they build their businesses differently from each other.
The Top 7 Priorities in Your MLM Business
In the paragraphs below, I will share the most important priorities in your MLM Business, so you can evaluate yourself in each area and look for ways to be more effective and more efficient. Enjoy the training.
# 1: Exposures
This is a business of exposures. If you aren’t talking to new people daily, or generating new leads daily, your business will stagnate and eventually decline. Basically, we get paid to talk to people about our products and business. The more exposures you make, the more money you make. Period.
Our job is to connect with someone, pique their interest, share a third-party tool, and then follow up and collect a decision. That’s it.
If you are building your business part-time, you must make two to five exposures per day, at least five days a week. If you are doing your business full-time, you should make at least 20 exposures per day, at least five days per week.
These exposures can be with your personal prospects, or with your team member’s prospects. They can be done online or offline, in person, by phone, via text, email, or whichever method you prefer.
Most people in our industry DO NOT expose the products and business opportunity to new prospects consistently. That is the # 1 reason they fail.
Here’s something important to understand. The more exposures you make the more you will improve your skills. You will know what to say, what to do, how to close, etc. And you’ll do a better job at finding better quality prospects. Boom!
# 2: Create Sales Volume
Your next most important priority in your MLM Business is creating volume! You only make money in the business when products are bought and sold to end users. The purpose of doing lots of exposures is to create volume in your organization!
You are retailing and recruiting to create volume. Every activity you do in your business should be designed to help generate more sales volume in your business. This includes prospecting, retailing, recruiting, and training your team how to do the same thing.
If no products are purchased or sold, no one makes money in network marketing!
# 3: Find & Develop Leaders
Customers and distributors come and go like the common cold, but leaders are who you are really looking for.
The “big” money and “long-term” money in this business come from finding and developing leaders in your team. Your goal is to invest your time and energy with the people on your team with the greatest leadership potential. You want to find and develop leaders.
Get your team members on a daily reading program and personal development plan. Teach them how to set goals. Plug them into your successful upline and system. Teach them about leadership. Whatever you do, make sure you set a good example for them to follow.
Scan your organization each month to identify up and coming leaders. When you find someone ACTING like a leader, reach out to them and develop a relationship with them.
At the end of the day, all you need is two to five leaders to build a huge network marketing business. And you don’t need to be the person who sponsors them.
Always keep your eyes and ears open for leaders and future leaders!
# 4: Retention
Recruiting will make you immediate money, but retention will make your rich in network marketing. Write that down and remember it.
Attrition will always be high in network marketing because of the low cost of entry. Easy come, easy go. It’s easy to join and easy to quit.
Your goal is to minimize attrition as much as possible. Even reducing your team’s yearly attrition by just five or ten percent can have a huge, positive impact on your bottom line.
You can increase retention by doing a few simple things. First off, help your team members make money. When people are making money, they are less likely to quit the business.
Next, build depth whenever possible. Always work with the newest, most excited distributor at the deepest level in your team. This helps motivate everyone above them. Build your business from the bottom up. Light a fire in the basement of your team and let the heat rise to the top. When people have something to lose (a team) they are less likely to quit.
You also want to stay in touch with your team members frequently, get people to events whenever possible, and get your team members using the products. Many people who quit doing the business will keep ordering the products, if they are a good value.
Tap- Rooting is a way to increase retention in network marketing very fast. This is immediately when you sponsor someone you personally get in front of their contacts within 24 hours and do that exact same thing over and over again. You must personally keep driving team with each new contact and continue down the chain. This builds depth in your organization and creates stability. When team members can look in their back office and see a bunch of people underneath them in the downline it keeps them in and builds belief. ~ Ron Gelok
# 5: Keep Your Prospect Pipeline Full
One of the most important priorities in your MLM business is to build up your prospect pipeline. You must add new prospects to your pipeline daily. You can do this through prospecting and marketing.
Make it a goal to add 5-10 new people to your pipeline daily. Do that for a year and you will have 2,000 to 4,000 people in your pipeline. Even if only five percent of these people join your team, that is 100 to 200 new personally sponsored people each year.
I use an auto-responder for my pipeline (Power Lead System). I have a 50+ email follow-up sequence that stays in touch with my prospects every few days automatically. This automates my follow-up, and allows me to build up the like, know, and trust factor with my prospects.
I’ve learned that most people don’t join my team on the spot. Most people need anywhere from 10 to 20 follow ups over a two to three-month period of time before they sell themselves on the idea of buying or joining. My auto-responder simplifies that process for me, so I can focus on finding new prospects daily.
# 6: Develop Yourself
Your job is to develop yourself into a leader. You want to be someone worth following. You want to improve your skills and attitude daily.
Read books, enroll in automobile university, attend events, talk with your mentor, watch inspiring videos, and do whatever else you can to improve yourself.
Study sales, leadership, communication, conflict resolution, marketing, lead generation, and network marketing. Learn everything you can about your company, its products, and the industry.
Success in this business boils down to skills and mindset. You might not have these two things mastered when you first join the industry, but you can develop them if you choose to.
Personal development is vital to your long-term success in this business. Your business will only grow as much as you do. Create a daily personal development plan and follow it.
# 7: Promote Events
One of your most important priorities in your MLM business is to promote events. This is an event driven business. You should attend every event yourself and promote events like your business success depends upon it (it does).
Attend every company event, especially the annual convention. Attend generic MLM training events a few times each year. Like any other successful entrepreneur, you want to be a student of your business. This helps you build up your belief in your company, the products, the industry, and yourself.
Events are where people make the decision to build a big business. Either you need the event, or the event needs you. Never miss an event!
I think the most powerful reason to attend events is not found within the event itself, but rather found before and after the daily schedule and in the breaks.
Because this is when you have the chance to hang out and socialize with other people in the same business who are excited and who are serious about making incredible things happen.
This is the time when you can actually discover the “leaders” and top income earners are just ordinary people – just like me and you – warts and all. Nothing special. With the exception they did make a decision to build and they just got busy.
They put the work back into the work from home equation, canned their excuses, and took consistent action regardless. ~ Rob Fore
Final Thoughts
In conclusion, these are my top 7 most important MLM priorities, as I see it. Do these seven things consistently, and your business will grow. Do them consistently for a few years and you will become a network marketing professional and top earner.
What are your thoughts? What do you think are the most important MLM priorities? Leave a comment below to let me know what you think. I look forward to hearing from you. Have a great day.
Sincerely,
Chuck Holmes
Network Marketing Professional (21+ years)
Top Recruiter & Top Rep
mrchuckholmes@gmail.com
Retention is a herd thing in this industry, but the little gestures make a difference. I send out handwritten cards monthly to a different group of people thanking them for their involvement and hard work. I often reward top earners with gift cards (which also acts as a motivational tool). People are so touched by these things because they see they are valued and want to continue working with you.
Doing the little things makes a huge difference.
You hit a major truth when you said the business is actually quite easy; we humans just make it difficult. Your #1 factor is #1 in my book too. Creating volume is a major key. I believe customers should be the first outlook and distributors second. I also believe building the list falls right into place with this. By building a good list, you will build volume if you utilize the list properly.
I believe network marketing will always have its share of low retention, but there are things we can do to help keep the door from swinging too much. This goes back to training and relationships. The whole idea fits like a glove.
Great post Chuck.
Create volume and you are fine. Everything else will fall into place. Recruiting is important, but if no one buys or sells the products, no one makes money.
Yes, you are right. There are some network marketers who have few if no distributors under them, but they are doing quite well because they sell a lot of the products. I know a person that sells both Avon and Amway products and does not have any down line, but she is still collecting a nice profits every month.
I also believe building the list is also of prime importance. The list is where the money is.
Another priority all network marketers should have is developing and refining a business plan.
Very good post Chuck!