7 Secret Ingredients for MLM Success
Learn the biggest mistake most network marketers make when choosing an MLM business or team. Master these secrets to have a breakthrough in your MLM career!
The biggest mistake most novice entrepreneurs make is thinking that there’s a single “magic bullet” they have not yet discovered that’s keeping them from achieving success–whether it is a brand new automated online lead generation tool or a special guru training program.
The reality is that no matter what kind of business you are building or what marketing system you are using, tenacity along with persistent and consistent effort is needed to achieve success.
However, our leaders have discovered that there are seven secret ingredients that can help you build a profitable, long-term, home-based business much faster than the competition.
Use them and watch your business grow like a weed!
If there is no enemy within, the enemy outside can do us no harm."
– African Proverb
Even if all the other ingredients are perfect in your opportunity, nothing will change if you do not have the tenacity and persistence to put in consistent effort! If you are not your own enemy, you will find your success. You must believe in your ability to make your way in this world. You must believe that your path will take you to untold success especially when you have the opportunity of a lifetime to work with an ideal business vehicle.
To make your journey easier, your team or company should provide you and your team with a first-class, personal growth and development program that’s beyond just having you read books and listen to audio on your own free time. After all, if it was possible to become a professional at a trade without having to attend a live educational event, nobody would have to really go to school! As the late personal development guru Jim Rohn once said, “Formal education will make you a living; self-education will make you a fortune.”
If you are a mentor in your field you are 600% more likely to succeed."
Just like how a personal trainer may help one reach their physical goals at the gym, it is crucial for new representatives to be immediately linked up with a mentor–someone with experience they can trust, relate with, and seek advice from as they embark on a new journey in network marketing. Statistics show that without a mentor, a new rep usually stops being active in their business within their first week of enrollment. Whether they are still purchasing products, they have essentially mentally quit building their business because they were not able to find solutions to their challenges.
A leader’s potential is determined by those closest to him. The leader finds greatness in the group, and helps the members find it in themselves."
- John C. Maxwell
In a network marketing business, you are in business for yourself but not by yourself. An ideal team should generally have the same vision as you and provide you with unwavering support and encouragement you need to stay focused on your goals. Moreover, an ideal team should also make you feel that others have your back and you feel empowered to grow and become the individual you want to become through your business.
Learning is the beginning of wealth. Learning is the beginning of health. Learning is the beginning of spirituality. Searching and learning is where the miracle process all beings."
- Jim Rohn
To build a long-term network marketing business, you need effectively market your company’s products and business opportunity, teach others to do the same, then teach them how to train others to do what you do. This may sound simple but the biggest cause of frustration in MLM is the lack of duplication. In other words, when person A teaches B how to do the business, but B cannot teach C the same information, person C will struggle and the chances for him or her to quit is high.
The ideal solution to have effective long-term duplication is for the company’s Master Representative to create a training system for all new reps to learn with. This system should just be a framework that allow leaders and reps to integrate and teach their own online or offline marketing campaigns or lead generation strategies that they think are most effective for their market. In other words, the training system should not restrict what reps can or cannot do and promote innovation and creativity. This way person A’s information will always be communicated to person C, D, E and beyond to ensure effective duplication.
It is also very important that training should be provided in multiple languages, be available both online and offline, and also be in the form of video, audio, and written text so that people everywhere around the world can learn and leverage the training in the way that’s best suited for their needs.
5. System and Tools
S-Y-S-T-E-M: Save Your Self Time Energy and Money.
K-I-S-S: Keep It Simple, Stupid."
A rep without a marketing system and tools is equivalent to sending a soldier out into the battlefield without an attack plan and weapon. Having a clear marketing system is equivalent to having a blueprint for a new rep to follow to build their business. The system and tools should allow the rep to market both online or offline based on their preference, and be simple enough to use so that it’s easily duplicated. An ideal marketing system should have a step-by-step blueprint for reps to prospect and generate leads, present the business opportunity or products, handle objections, follow-up, increase their personal branding (to create more credibility over time and attract market), and also build relationships with prospects, customers, and teammates. An ineffective marketing system that usually has reps joining the NFL or “No Friends Left” club usually only teaches reps to “chase” their warm-market, pretend to catch up with old friends but really wanting to just recruit them, using the ”3 foot rule”, or spamming your friends online and offline with messages or videos about your opportunity.
With the internet coming of age and changing how we stay in touch with one another and how we decide what to buy or not buy, it is important that your marketing system and tools also have the option to leverage the internet to build your business. While many network marketers have began using online tools, the number one problem is that effective internet marketing usually requires a lot of technical know-how to implement and is not simple enough to duplicate. So it is very important that if you choose to use the internet to build the business, it must be simple enough to be taught to others step-by-step so that even a not so computer-savvy Baby Boomer can use it.
Downsizing trends and the changing global market require people to reinvent themselves and think like entrepreneurs."
- Les Brown
Those that ignore economic trends and have a loyalty to their interests or academic expertise will have a hard time growing a successful business. Ideally, if you start a business you need to position yourself at the front of a trend so that you get the largest growth-potential without having to work as hard. Those that position themselves behind trends will face intense competition and will have to be very skilled in what they are doing to out-compete competitors as they fight for their share of a small and shrinking pie.
So, what are some trends one needs to be educated about for network marketing today?
- Industries that cater to the Baby Boomers: Baby Boomers are the population born between 1946 and 1964 that makes up over one-third of the population and controls a substantial amount of the world’s wealth. Numerous billion dollar companies today have achieved success because they got in front of trends and offered products and services to this group of people. With Boomers retiring the next few decades, it would be wise to choose a company that offers products and services Boomers would want to buy such as health and wellness and retirement planning services. If you plan to recruit Boomers, you must also make sure the marketing systems and tools are easy enough for them to use.
- Health and Wellness: This will be the next trillion dollar industry. People getting more health conscious and they have the desire to live healthy, longer, and stay younger.
- Internet and social media technologies: As internet and mobile technology continues to evolve, communication will continue to get cheaper and easier and social media will continue to impact all aspects of our lives. Just like how Fortune 100 companies are already embracing social media and internet marketing to launch their business campaigns, a smart network marketer would also choose a company and team that embraces online and social media marketing.
- Global recession and currency crisis: Unemployment rates in many developed countries are high, banks are beginning to bounce more than checks bounce, gas prices and taxes are going up, and the U.S. dollar is decreasing in value which means the money we work so hard to earn can buy us less stuff. A smart entrepreneur would start a business that allows them to have business from multiple global markets so they are shielded from currency instability and also offer others a way to work from home to escape the recession.
- Gen Y and Young People Generation: Today’s youth have vastly different lifestyles and thinking compared to the older generation. They are much smarter, technology and internet-savvy, more health conscious, and have the desire have freedom to work and travel wherever they want. You business should also cater to this generation to ensure your team and leadership stays relevant to the fast, ongoing changes around us.
Network marketing is the big wave of the future. It’s taking the place of franchising, which now requires too much capital for the average person."
- Jim Rohn
A network marketing company is your business partner not your employer. They are responsible for product research and development, manufacturing your products, packaging and shipping your products, providing customer service, and providing any other resources to ensure that you can have a global business marketing their products.
An ideal network marketing company should have the following in place so you do not have to do their job:
- Global product order and delivery system: Customers should be able to place orders online or over the phone and immediately have the products shipped to their local address.
- Global payment system with direct deposit or company debit card: Representatives should never have to deal with paying commissions their downlines or currency conversions.
- Online customer and downline management system: Your business should be easy to track online as long as you have internet access.
- Understanding of product life cycles: The company should continue to innovate their products or add new unique, consumable products to their product lines so that representatives can continue to have a growing customer base even when older products come to their end of their life cycles. This is also crucial to prevent “pyramiding” where the majority of reps only recruit others for the opportunity because the products have become too expensive or hard to sell.