MLM Business Plans
What is a MLM business plan? MLM Business plans are a strategic plan outlining who your competitors are, who your customers are (target market), what your marketing strategy is, and what your unique selling proposition is. Simply put, it’s your strategy for success in network marketing.In our industry, most MLM Companies have a strategic business plan for their company. That’s a good thing. On the other hand, most network marketers themselves do not have a business plan for themselves. That’s a bad thing. In my opinion, that’s one of the major reasons so many people fail in network marketing. They fail because they don’t have a game-plan for success. Instead, they get involved in MLM, try a bunch of different things that don’t work, and then end up getting frustrated and quit the industry. Word to the Wise I don’t want this to happen to you, so I’m going to share some wisdom with you. If you want to succeed in any business, you need a game-plan. Even in network marketing, you need a MLM business plan. MLM business plans identify your personal strategy for customer acquisition, marketing, and prospecting. At a minimum, here’s some of the basic information that should be included in your plan: • Your goals • Your competition • Your target market • Your unique selling proposition • Your products and services • Your marketing and advertising strategy • Your education plan You need to spend some time thinking about each one of these topics before you start your MLM business. This helps you “begin with the end in mind.” It helps you achieve success in a quicker amount of time. So many network marketers follow the “Ready, Fire, Aim” advice, rather than doing the “Ready, Aim, Fire.” When you follow the “Ready, Fire, Aim” approach, you can be real busy getting nowhere fast. Your Mindset I don’t know about you, but I joined this industry so I could have more time and more money. I want to be able to make the most amount of money possible, with the least amount of effort. In order to that, you need a game-plan. Let’s face it, most new network marketers have never been entrepreneurs before. Therefore, they have the typical employee mind set. And, they’ve never developed a business plan before. Employees are used to managing a business or job. They typically get paid to show up and work. Whether they produce good results or not, they still get a paycheck. On the other hand, entrepreneurs get paid for the results they produce. If they don’t produce any results, they don’t get paid. However, if they produce big results, they can earn big bucks. Therefore, I want to help you transition from the employee mindset to the entrepreneur mindset. In order to accomplish that, I’m going to help you develop your own MLM Business Plan. I call this the one page business plan. I don’t think you need a 10-page comprehensive plan to achieve success in our industry. Instead, you simply need to “strategize” each of the topics listed above. Here’s my sample MLM Business Plan. • My Ultimate Goal: My ultimate goal is to earn minimum $10,000 in passive income every month. This will consist of multiple streams of income from my MLM Company, my website, and different affiliate products I promote on my website. • My One Year Goal: My one year goal is to consistently earn $3,000 to $5,000 per month in passive income within 12 months from today. Once I do that, I can leave my job and pursue my business full-time. • Steps to Reach My One Year Goal: 1) Build my personal MLM website or blog 2) Add one page of content to my website every day 3) Utilize Twitter, YouTube, LinkedIn, Facebook and other social media to build a following 4) Start building a list of names in my auto-responder 5) Use a funded proposal to off-set advertising costs 6) Invest $500 to $1,000 per month in advertising and marketing 7) Find at least five different streams of income for my website (i.e. Google Adsense, Affiliate Products, eBooks, etc. 8) Sponsor 4-10 distributors per month 9) Find 2-5 retail customers every month 10) Train all new distributors to follow the steps outlinedabove • My Competition: My competitors are other network marketers and MLM Companies. My goal is to find a way to be different from everyone else. To do so, I will follow the principles of “attraction marketing.” • My Target Market: I will focus my advertising and marketing efforts and money on other network marketers. I will not waste my time with opportunity seekers. • My Unique Selling Strategy: My USP is to become known as the “MLM guru.” I will create so much content on my website that other people will see value in what I have to offer. And they will contact me about my business. I will become the hunted instead of the hunter. • My Products and Services: My Company offers quality products and services that provide value to my customers. They are quality products at reasonable prices. I will become an authority of every product my company offers. I will educate my customers and downline distributors on every product my MLM Company offers. I will be my own best customer. • My Marketing Strategy: My marketing strategy is to generate all of my leads through my website. I will build an email list and provide great information through my e-courses. I will also have links to my products and business opportunity on my web-pages. I will talk about my opportunity to no one. Instead, I will let people check out my products and business opportunity on my website. I will devote all my time to building a bigger website so I can get more free traffic. I will then convert that traffic into customers and distributors. • My Education Plan: Since education is paramount to my success, I will read two network marketing books every month. In addition, I will listen to two network marketing audio programs every week. I will also attend three MLM seminars this year. I will spend one hour each month counseling with my mentors. I will spend 2-3 hours each week training new distributors. This is my MLM business plan. This is the strategy I use to build my MLM business. That doesn’t mean you need to follow the exact same strategy. Instead, you simply need a strategy that will help you reach your goals. Even if you don’t want to build your business online, you still need a game-plan. In summary, MLM business plans are the key to success in this industry. All network marketers should develop their own MLM business plan when they first get involved in MLM. By doing so, they will improve their chances of success.
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