Top Ten MLM Secrets
Are there any MLM Secrets? You bet. Listed below, I’d like to share my ten favorite MLM Secrets with you. Most of these lessons I’ve learned through trial and error during my 8+ years in the industry. I call it the “school of hard knocks.” Hopefully, you can learn through my mistakes and shortfalls, so you can reduce your learning curve and achieve success faster. Let’s get started.
# 1) Most Distributors Fail: My bet is that 95% to 98% of all network marketers fail. Don’t let this scare you though. Most businesses fail. So do most marriages and weight loss plans. Most people fail in any venture because they “quit too soon.” The same thing applies in network marketing. Most distributors don’t last 90 days, let alone the required five, ten or twenty years it takes to become a MLM Champion. Of the ones that do stick around that long, most succeed. And most of the distributors who quit could have succeeded. People will give you hundreds of reasons why they quit. People do the same thing with failed marriages, bankruptcies, and failed business ventures. Instead of accepting responsibility for their own success, they blame someone else.
# 2) Not all MLM Companies are Created Equal: That’s right. Not all MLM Companies are created equal. Some MLM Companies suck! Some companies don’t support their independent distributors. Others treat their distributors like crap or have a horrible, overpriced product. Moreover, some companies don’t compensate their independent distributors very well. And other companies have a horrible reputation. Your key to success is to find a good company, with a good product, effective leadership team, strong financial backing, proven track record and exceptional training program. Most companies don’t have these attributes. But the best companies do. So do your due diligence before you join any MLM Company. This is one of the most important MLM Secrets.
# 3) It’s a Numbers Game: This business truly is a numbers game. You can’t expect to sponsor nine out of ten people. Heck, you probably won’t sponsor two out of ten people. But that’s okay. You don’t need to. You really only need a few quality people to build a large downline and become a millionaire. And you can’t expect to build a huge downline if you only sponsor two or three people. You need to present your business opportunity to hundreds of people, and sponsor lots of distributors, to find a few exceptional distributors. The magic number is five. If you can personally sponsor five people who build a large downline, you will build a lasting residual income. This is one of my favorite MLM Secrets.
# 4) You Only Get Paid to Do One Thing: Never forget this secret tip. In multi-level marketing, you only get paid to sell products. Can you believe some companies actually tell their distributors “don’t worry about selling the products?” Personally, I find this idea ludicrous. What good does it do you to sponsor hundreds of distributors and no one purchases or sells the product? Hint: it doesn’t do you any good. Before you sponsor distributors, you should find ten to twenty customers. And you should help you downline do the same thing. Never forget the importance of your customers! This is one of the best MLM Secrets!
# 5) It’s Simple, But Not Easy to Succeed: MLM is very simple, but it’s not easy. That’s why so many people quit. People expect to get involved in this industry and get rich quick or achieve instant success. It’s the American way. People want it and they want it now. Fortunately, no business works that way. All businesses take time to build and grow. At a minimum, expect to work two to five years before you make a dollar profit. That may be difficult to grasp for most people, but the long-term rewards are worth it.
# 6) It’s All About Relationships: This business is all about relationship building. Your key to success is to help other people get what they want. You need to focus on putting others first. If you can become that type of person, you will excel in network marketing. Most people make the mistake and only focus on themselves. Don’t be like that. Invest your time, money and energy in others and watch your bank balance grow. This is one of the most important MLM Secrets.
# 7) Focus on Quality, Not Quantity: This lesson will save you lots of time and heartache. I think you should focus on finding quality MLM prospects. Look for people who are already successful at what they do. Focus on prospecting current entrepreneurs, doctors, lawyers, accountants, and sales professionals. These are the people who normally succeed at network marketing anyway. Personally, Id’ rather sponsor five quality people who do something, than 100 distributors who do nothing but complain.
# 8) Focus on Your Target Market: I wish I would have learned this lesson five years earlier. Your target market in network marketing is people already involved in network marketing. Don’t waste your time on disgruntled employees, unemployed folks or opportunity seekers. These people will drain your bank account and waste your time. Instead, focus your recruiting efforts on people already involved in our industry. After all, they believe in the industry already. You won’t need to convince them about the benefits of multi-level marketing either.
# 9) It Works: Multi-level marketing works, if you work it. It really is a great business model. I’ve never met anyone who built a large and profitable business who regretted it. But, I’ve met lots of people who quit too early and went on to regret it.
# 10) You Need Multiple Streams of Income: You do need multiple streams of income. You should never put all your eggs in one basket. In addition to your MLM Company, you should also find another three to ten revenue streams you can promote at the same time. This includes lead commissions, eBooks, courses, seminars, books and other training materials. This will help supplement your immediate income while you work on building your residual income. That’s one reason I created this website.
In conclusion, these are my favorite MLM Secrets. I hope you benefit from them. If you remember nothing else from this page, just remember two things. First of all, never forget the importance of a customer. Spend your time and energy finding customers, taking orders and keeping them happy. Finally, never forget the importance of creating multiple streams of income. You should never have all your eggs in one basket. I hope you enjoyed these MLM Secrets.
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