Have you been attempting to create an MLM Success story from a network marketing program only to find it not the life changing opportunity you had hope for?
You are not alone. In fact if you have tried several programs or have read enough articles, you have probably read the disheartening statistics. Some say as high as 98 to 99% fail to earn or earn less than $500 a month. The latter of which could mean a huge difference in someone’s life, so we do not want to discount that as not being a success.
However for many a Life Changing Opportunity means getting out of the daily nine to five (or worse). Now days, many are working more than one job to make ends meet.
This is a large topic, but here are some basics that can be easily overlooked, but once embraced could turn your business failure into a MLM success or yes, even a life changing opportunity for all you touch:
Understand Network Marketing or MLM. Many get into this business with the wrong idea or no idea. In fact, Network Marketing (or Multi-Level-Marketing) is not an industry; it is a valid and legal method of distribution. This is a method that is generally chosen by an entrepreneur that has a vision or product manufactured (in house, or by a third party). This entrepreneur(s) puts together products or services, product packaging, handles accounting, marketing tools creation, warehouses, shipping, IT functions and much more. The entrepreneur compensates independent reps that agree to purchase products or services and find others to do the same. This is also known as referral marketing and is frequently found in some form even in the most conventional businesses.
Your agreement is to become a customer and find others willing to become customers that want to do the same. However, don’t ever rule out retail sales. Ask about this.
Know your market ~ meaning; when you start out, before you sign up, do your homework. There is a lot of talk about having “passion” about your business for success to come. This is true, but passion may come as a result of learning and growth. I have met many successful people that did not have a passion for the business products, but became more passionate the more they learned about them and how they were helping others (particularly true in the Health and Wellness arena from my personal experience). Belief in the product niche and having an interest on some level is highly recommended.
Is your business mature? Are they financially sound with a proven track record? The intention here is not to give all the steps of picking an opportunity, but provide a basic overview. The intention here is not to provide you with all the “due diligence” of picking a life changing opportunity. Some items to consider are 1. How long in business. 2. Cost of getting into business. 3. Is the business product sales based? Make sure you are rewarded for product volume sales and not just strictly recruiting ~ in other words, compensation rewards should always come as a result of product moving (sales ~ new or existing customers or representatives).
Treat your business like a business. Most of us have a JOB mentality, however, new habits can be developed and the “do nothing” syndrome after work will be vanquished for the most part, once you have seen some results.
Write it down and review: Write your long term goals to see the big picture. Create that dream board you may have heard about. Write down your monthly, weekly and daily strategies and tactical actions and review them on specific time frame.
Keep good records of spending and stick to your budget. Budget? Yes, this is a business, so a prudent measure would be to create a budget and stay within it. When you begin to see predictable patterns develop at some point, you will learn when you can begin to expand or maybe even seek some help if necessary.
Follow the company recommendations on building your business. If you do have ways that have proven effective outside the company norm, it certainly is your right and in your best interest to share them with your team, so long as they do not violate any terms and conditions. Most companies will approve any ethical actions and or make recommendations so as to keep you in compliance with policy and law. Use the ‘system tools’, since this way all that come aboard will learn the same thing from the same language. If your mother company has events, promote them as well, they will generally work for your benefit.
Here is where I will deviate from the norm…
Most Network Marketing companies will encourage you to build from you warm market list, as you should. However, very few, at this writing, are teaching Internet Marketing Strategies as applied to Network Marketing.
There are reasons for this. One of course, is that the overwhelming majorities of those entrepreneurs that own network marketing companies are not well versed in Internet Marketing strategies and is seen as a diversion from the warm market strategy by many.
However, a phenomenon has developed with the new networking sites, blogging, video, and other technologies. Many people that do have knowledge of Internet Marketing skills that have picked up on this growing internet phenomenon are using all of these forums to a great advantage. Now it has become essential with more and more people “warming” up to the internet for more and more information, there is a huge opportunity for those that understand the interaction of all of these networks and businesses we like to call “search engines” that all of us in Network Marketing cannot ignore.
But, please do not become overwhelmed with this. Simply take it one step at a time. Your sponsor or team site will help you get started. If you have had experience, then you can learn about your new opportunity, and then begin to figure out how to apply any new Internet Marketing strategies.
It is tremendously exciting to find out how these networking sites, blogging, article submissions, linking, and search engine placement all fit together and can actually be accomplished by the “average Joe”. Yes it is true; most anyone with the desire can do all of the above. And with the right team, even more can be accomplished.
If you want to turn your program into an MLM success or a life changing opportunity for all those you touch, you will be learning how to apply Internet Strategies for Network Marketing. Who would you rather talk with, a person within three feet, an internet lead that opted in on an unrelated survey or a real person that has already become somewhat familiar with you and what you represent and has asked you directly for more information?
