MLM Basics: The Most Critical Skills to Build a MLM Business

by Chuck
(MD)

What are the MLM Basics? In other words, what are the few critical skills you need to master to create wealth via network marketing? In my opinion, there are only five things you must get really good at. We will cover these MLM Basics in more detail below.

1. Prospecting & Lead Generation: Without a doubt the single most important skill is prospecting and lead generation. This is the process of finding people to share your products and business opportunity with. There are many ways to do this, both offline and online. I’d recommend you sit down with your upline and find a strategy that works for you. In addition, I highly recommend you study “marketing” and “lead generation techniques.” There are many books and training courses on these subjects.

2. Presenting Your Opportunity: Once you have leads to share your products and business opportunity with, you need to develop an effective presentation. Your presentation must be short, to the point and tailored to your prospect’s needs. You don’t want some canned presentation that you show everyone. You need to show your prospect how she can get what she wants, via your products or business opportunity.

3. Following-Up: The money is in the follow-up. Most folks will tell you NO the first time you talk with them, but if you follow up with them consistently, you will sponsor a few of them into your business. Also, some people who tell you NO today will join your business three years from now, if you are persistent. At a minimum, you need to keep a database of everyone you ever talk with. I also recommend you create a monthly newsletter to send to your prospects and team members.

4. Teaching Your Downline: The most successful distributors are great teachers, not recruiters. This business is about duplication. It’s about a lot of people doing a little, not a little bit of people doing a lot. When you sponsor someone, you need a game-plan and willingness to help them. You need to help them get started the right way. This means you work with your new distributors and match their effort. You don’t build a business for them, but you help them get started. I recommend you create some type of training system for your team, such as an email training series, a training website, an operations manual, or something else that is easy to follow.

5. Goal Setting: Goal setting is vital. The most successful distributors set written goals and then they have a clear action plan outlining what steps they must follow to attain their goals. You must have a written game plan outlining (1) what you want to achieve, (2) how much money you want to make, and (3) what steps you must follow to reach your goals.

In order to increase your proficiency in each of these areas mentioned above, you will need to become a student of your business. Personal growth is vital. You must commit to reading books, listening to audio programs, attending seminars, working with a coach, and doing whatever it takes to learn what you can about each area. Additionally, you must APPLY what you learn and keep improving your skills.

In conclusion, these are the MLM Basics. If you can master these MLM Basics, you will make money in this industry. Please don’t expect this to happen overnight though. It might take you five years to learn and develop these skills. However, once you know what you are doing, you will be able to accomplish your goals and achieve success.