Though over the years there has been much stigma attached to Network Marketing / Direct Marketing / MLM, for someone with little business skill, capital, and time it can be a great starting place. A strong Network Marketing system will offer a good product, a great support system and a fully functioning back end . All you have to do is market the product and the business and they do the rest; Automated order taking, billing, shipping, customer service, accounting, etc.
I think what has caused the negativity around MLM are twofold.
First is the Pyramid Schemes, where lots of money was exchanged with no real product or value.
Secondly is the often unprofessional and deceptive ways in which some network marketers present themselves. For example, you are introduced to an “Opportunity”. You are told how easy it will be, only a few hours a week, no cold calling necessary, no product to sell. And amazingly, by working only a few hours a week, not calling anyone and not selling anything, you will make a lot of money and retire in a few short years.
It business terms I call this “A Load of Doo Doo” (I don’t use fowl language)
Now it is possible to experience great success in Direct Marketing, you just have to know what the steps are.
Here are 8 tips to keep in mind if you want to succeed in Network Marketing.
1. Work
This can’t be stressed enough. If you want to succeed in any business you have to work hard and smart. Nothing comes easy, and if it does expect it to leave as quickly as it came. The more you put in the more you will get out. You might start to work only 10hrs/week in the beginning because of other obligations, but in order to grow business you will have to put in more time. The ones that have become Diamond Distributors are putting in upwards of 50hrs/week. They might have started with 10hrs/week, but that was before they got in gear.
2. Hot/Warm/Cold Calling.
Ask a successful Direct Marketer how much of their down-line are family and closest friends, and you will find that none of the successful marketers have more that a handful if any. You will have to find prospects (read ‘people you don’t know’) or you wont build your business. I strongly recommend against annoying friends and family to get into any business, I am also against becoming a walking infomercial whenever someone comes within your two square feet. Think of the last five social gatherings you were at, other than network marketers, how many people tried to get you into their business? Unless you are a multimillionaire, I am going to guess none. Yes, you should have an Elevator Pitch, you should have the tools at hand to get a prospect interested in your business, but you should use it ONLY when you have a qualified prospect. If you are speaking to a person and you casually and HONESTLY mention what you do, and they say that they are looking for something new, that would be an opportunity to discuss further. If they tell you they are a high paying executive and love their job, pitch them and you will look like an idiot.
3. You Will Have To Invest Money.
As I have already stated, building your business will take work, hard and initially unpaid work (we call this sacrifice), it will also take money. Any business is going to require a capital investment. I was just speaking to the owner of a successful ForEx company and when he started his business he and his partner invested over $125,000. In MLM your investment is significantly lower, often a few hundred dollars, BUT, there are still other investments required, you will have to buy product, you will have to buy various marketing tools (brochures, CD’s, business cards), you might even host an event. I would recommend budgeting $250 – $500 per month if you are serious about growing your business. Keep in mind that you can get this money from building your business (aggressively) and it is a write-off.
4. Setbacks Are Part Of The Process.
I won’t go into great detail here, but life’s successes are built on learning from failures. If you expect to magically build your business overnight, and everyone is soon going to be banging down your doors because of the great opportunity and business that you have, you will soon find yourself disappointed and possibly quitting. Things will not always go as planned, that is fine. When you have a setback, regroup and rebuild. Speak to your support people they have been there before and will help you through it.
5. Be A Team Player.
Very few people can build a successful business alone. Every person has their Strengths and their Weaknesses. The successful person is the one who finds others whose Strengths offset his Weaknesses. The beauty of Direct Marketing is that it has such a broad base of involvement that it is easy to find others who can be a compliment to your business style. Find teammates that you can work well with share ideas, strategize and help each other succeed. Don’t hog all the glory and business for yourself, MLM is about building those below you. Yes you may make a greater return from sponsoring someone into your top line, but unless you help them build their success (ie. their down line) you will never see a solid residual income.
6. Think Outside The Box.
Yes, Network Marketing gives you a great template to work from, but the general system is designed for the middle/mediocre people. The distributors that are experiencing massive success are the ones that use the structure as a foundation for other ideas, not as the absolute process. Look at the website of any successful builder and you will see that they have brought in their own creative strategies, whether is is their own videos, books, podcast or literature. They bring in their own style and monetize it. If you compare the top leaders against the standardized system you will see that though they do maintain the intention of the structures they do veer from the exact lettering of it. Get creative, this is your business. How are you going to stand out in the crowed.
If you want to see some out of the box thinking you can read the free E-book The 7 Lies of Network Marketing.
7. Have Fun
I would say that Fun is as important as Work. If you don’t find enjoyment in what you do, it will be very hard to succeed. Everyone will find their enjoyment in the business in a different way. You may love the product, so you will have fun using it, talking about it, and selling it. You may not be so big on the products but love the idea of helping others build a successful business, so you will have fun, coaching, supporting an seeing others succeed. You may just have a big dream, and know that this business will get you there, and you take joy in seeing yourself get closer to your goal. Whatever your focus is, make sure you are able to enjoy the process, it will help you stay in the game and motivate others to succeed, it will also keep you motivated when there are setbacks.
8. Did I Mention Work?
Yes, I know this was #1, but it can’t be stressed enough. Everything worthwhile takes work. Don’t Forget it.
If you are thinking of ,or have decided to try your hand at Direct Marketing, make sure you keep these steps in mind. Work smart, be a creative team player, and have fun. If you are realistic and honest in the process you will be sure to experience much success.
I bet spending 30 min on skype with me in a free coaching session can have an amazing impact on your business. I dare you to try it.
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Great Post, particularly point 4, Set Backs Are part Of The Process. As Marketers we must have the Discipline to with stand the challenges which arise in any business.
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Great post. Love the part about not harassing your friends and family. In the end, if you’re worth what you say you are, your friends and family will WANT to send their friends and family to purchase your service/products.
Great points. Especially the fact that you outline WORK. There is a big misconception online, partly due to irresponsible marketing tactics that promote “just add water” systems.
The bottom line is that you cannot get something for nothing.