MLM Formula for Success

1) Find a Great Company with Great Products

First and foremost, you need to find a MLM Company that you believe in. You need to find a company with exceptional products that excite you. The products must provide real value for customers. In other words, is the product a great deal, even at the retail price? Would you buy the products at the retail price, even if you weren’t involved with the company? Do you actually like the product line? If you aren’t passionate about the products, it will show. And it’s hard to sell products that you don’t use yourself.

2) Find a Successful Sponsor in that Company

Once you find a company you want to join, do some research on successful distributors within the company. Find out who the top earners are. If possible, find out if there are any successful distributors in your zip code, or within 50 to 100 miles from your home. If there is, get their phone number and give them a call. One of the most important decisions you can make is finding a sponsor who is successful in the business and is willing to help you succeed. I’m not saying you can’t achieve success without a successful sponsor, but a good sponsor will help you achieve success faster than you could do it on your own.

3) Join Their Team

Once you find a potential sponsor, you need to sign up and join their team. If they’re already successful in the business it would behoove you to swallow your pride and humble yourself. In other words, be a student. Don’t act like you know it all. If they recommend a certain way of doing something, follow their advice. Follow their system. After all, they’ve already achieved success with the business, so they know what they are doing. Until you become proficient yourself, you should simply follow their training system.

4) Treat Your Business Like a Real Business

Rome wasn’t built in 90 days. Neither was Wal-mart. Don’t expect to get involved in this industry and get-rich-quick. The MLM Industry doesn’t work that way. If you’re looking for a get-rich-quick opportunity, cash out your 401K and go to Las Vegas. The most successful distributors join a company and work their business consistently for two to five years, before they start making the big bucks. More importantly, most top earners stay with the same company for at least 10 years. In other words, they don’t jump from company to company, thinking that the company itself is the answer to their problems. More importantly, the most successful distributors treat their MLM business like a real business. They act as if they have one million dollars invested in it. This is one of the most important steps in the MLM formula.

5) Become a Student of the Business

All serious entrepreneurs commit themselves to being a student of their business. You should too. That means you need to read books about entrepreneurship and network marketing. You need to listen to tapes, attend seminars and be a sponge. You need to associate with successful network marketers and learn from them. Very few people join this industry already possessing the skills they need to succeed. If you want to make the big bucks, become a student of the business.

6) Build a Large Customer Base

Back in the day, distributors were taught to retail the products. Unfortunately, those teachings don’t happen very much anymore in this industry. But they should. You need at least 20 personal customers, so you can start earning an immediate retail profit. Also, if you don’t have any customers, you can’t expect your downline to have any customers. The money you earn from your retail profits can be used to reinvest in your business. Your retail profits can pay for advertising, sample products, and your business education. If you don’t have any customers, you won’t have any money to pay for these things. This is the one part of the MLM formula that most distributors neglect.

7) Sponsor New Distributors Every Month

One of the most important keys to success in this industry is MOMENTUM. The only way to gain momentum is to sponsor new distributors EVERY month. That’s right folks; every month. Don’t expect to hit that next achievement level with the same group you have right now. You won’t. You must constantly bring in new distributors to keep your momentum going and to replace the people that quit. The day you stop sponsoring is the day your business stops growing.

8) Train Your Downline

As a sponsor, you have the responsibility to train and motivate everyone you bring into the business. You must prepare them for success. What they do with that knowledge is up to them, but you have the responsibility to provide that knowledge. You must have a systematic way of training your downline. You can use emails, in-home meetings, conference calls, webinars and a variety of other techniques. Most importantly, your system must be affordable, easy to use and effective. When you first join the business, you will use your sponsor’s system. That’s why you want to join forces with a successful distributor. Once you learn the ropes you can create your own system or continue to follow your upline’s training.

9) Have Fun

This business should be fun. After all, no one wants another job. You need to find creative ways to have fun. If you can do that, people will want to join your team. Be enthusiastic. Have competitions with your downline. SHOW your customers how much fun this business is and watch them ASK YOU to join the business. If your business isn’t fun, you’re doing it wrong. And no one will want anything to do with you, or your business. So put a smile on your face and have some fun. Don’t forget to do this step in the MLM formula.

10) Never Quit

This is the most important step in my MLM formula. If you NEVER QUIT, you will eventually succeed. You must make a commitment to never quit this industry. You can quit “how you do things” when you find a better way, but you must make a lasting commitment to stay involved in this industry. If you aren’t achieving the success you desire, you need to do things DIFFERENTLY. After all, insanity is doing the same thing over and over and expecting something different to happen. If you need help, get help. Just don’t quit. Most of the top earners struggled their first few years in the business while they were learning the ropes. If they would have quit, they never would have succeeded. All good things take time.

Final Thoughts

In conclusion, the 10 steps outlined above are what I consider the secret MLM formula. The real key to success is to find a good company and sponsor, to make a commitment to treat your business like a real business, and to work your business consistently for two to five years. If you can do this, you will achieve success in network marketing. After all, there is always room at the top for someone with the desire to succeed and the willingness to do the work.

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