With a 95-97% failure rate, it is no wonder why so many tune in, then tune out when it comes to MLM or Network Marketing.
It is interesting to ask the average person walking down the street their opinion of MLM.
Most will get a puzzled look on their face as to what you are referring to, but the minute that you mention Avon, Mary Kay, or Amway, they immediately know what the subject matter is.
The fact of the matter is that MLM, Network Marketing, or Direct Sales as it is also known, is a multi-billion dollar industry globally and is showing no signs of slowing down.
The lure of low overhead and relatively small start-up investment as compared to many business opportunities drives millions to the front door of MLM opportunity every day.
To prevent yourself from becoming a casualty in this industry requires three fundamental strategies that must be executed on a continual basis, else the Grim Reaper of the MLM world will be knocking on your front door to claim his next victim.
Three key strategies: 1.
Mindset, yes mindset is a strategy in your ability to dominate your MLM Company.
You may say how can my mindset be a strategy? Well, I am here to tell you that it is the most important strategy of any of those in this article or any other article you may read.
There will be periods of time when you will doubt yourself and your ability.
You will doubt the company that you decide to join.
You will doubt your up-line and other leadership in the company, but it is your mindset that will determine your ability to succeed or not.
When you want to quit, or if you have quit already, your mindset allows this action to occur or not.
So many in MLM run 90 miles an hour trying to build a business, but do not invest in themselves and their own personal development.
If you ask any successful MLM'er or Network Marketer what the single most important factor contributing to their success, they will tell you that having the right mindset and a never quit, no matter what philosophy, is by far the most important asset enabling their success.
2.
Tools: Just as a carpenter or mechanic collects and covets their toolbox in order for them to be successful in performing their job, you must also have a tool box for your MLM opportunity so that you can not only work efficiently, but in a manner that is comprehensive and gives you the greatest chance for success.
Included in your tool kit should be a marketing plan, lead generation strategies, and social media tools to name a few.
Most involved with MLM are employed full time and work their MLM opportunity part time.
This dynamic requires that to be successful, you must use your time very wisely; else important work in growing your business will not get done.
We all know that life happens and that sometimes it is nearly impossible to carry out some of the activities that are integral to growing your MLM business.
Tools, from auto responders to personal assistants and outsourced help on sites like fiverr.
com, can take care of time consuming tasks that you may not have time to do yourself or can be done by someone with a better skill set.
There are two methods of building an MLM business, off-line and on-line.
Many folks do both, but at the end of the day, most of the activity is centered on lead generation.
Lead generation, next to having the proper mind-set will make or break you in your pursuit to be successful.
There are 100's of ways to generate leads, but doing it online is by far the most efficient method.
By deploying key strategies and techniques, you can attract folks who are familiar with MLM and are ready to listen to your opportunity instead of tire kickers looking for another tire to kick.
Regardless of the company or products that you choose to market, you must arm yourself with the proper tools to win at the MLM race.
The honest truth is that your competition has a complete arsenal of tools that he/she is using every day.
If you choose not to leverage tools you will find yourself frustrated and out of the MLM game quicker than you can say 'residual income'.
3.
Understand your company, product and leadership.
Far too many times folks jump into a business opportunity because of the promise of getting rich blurs their judgment and they lack the basic understanding of the business to be able to speak intelligently to anyone about their opportunity.
Take time to understand the leadership (professional staff) of the company that you join.
Their background, experience and knowledge can have a profound effect on the success of the company and ultimately yours.
Understand the product/service that you are marketing.
You don't have to become a nuclear physicist or an expert in every facet of the product line, but you should know the fundamental elements that make what you market special and how it is differentiated from the rest of the competition.
This is key because you want to always appear confident and comfortable when talking about your product with those who are not familiar.
There is no quicker turn off to a perspective client or potential lead than you appearing uninformed or nervous when speaking about your MLM opportunity.
Last, it never hurts to understand how the compensation structure works.
Again, mastery of every nuance and benefit is not necessary, but knowing the basics will go a long way to establish trust and confidence in those you decide to share your opportunity.
MLM/Network Marketing/Direct Sales is not for everyone, this fact is certain.
But for those who employ these key strategies and continue to invest in themselves and their businesses with the proper mindset can find success.
Most of all the ability to stay in the game and not give up is key.
You may not know the day that you will make a six figure commission, but one thing is for sure, if you quit, that day will never come.