Over the three plus decades I've been in the MLM / Network Marketing profession, I've learned a few things. Mostly I learned them by making lots of mistakes, but a few I learned from other top income earners. In this article I'm going to share 5 of my favorites. These are not theoretical ideas, but rather things I've done to build several large and lucrative businesses, a couple from which I still earn very nice residual incomes.
The key to these MLM / Network Marketing success tips is that you can't just read them. You have to put them into action in your business. The Bible tells us that we need to be "doers of the word", which means that it's great to read about these five powerful business building tips, but until you become a "doer" nothing will happen. So, I encourage you to study these tips and think about how you can implement them into your business today, this week, this month.
Okay, here we go:
Tip #1: Treat Your Business Like a BIG Business
Treat your MLM / Network Marketing business like you invested a million dollars to get it started, rather than as a hobby you work when you have time and you will see much quicker and bigger success. If you invested in a McDonald's franchise, you would work 15 hours a day for years to recoup your initial investment. The problem with network marketing is that it doesn't require a big investment, so people don't treat it like a big business. Yet, the potential income in network marketing is much higher than with a McDonald's franchise. So, treat your network marketing business like a big business by investing the hours every week to build your network.
Tip #2: Set up a designated business area in your house.
If you can spare a bedroom, do it. If not, at least have a desk in the corner and partition it off for your office. This will help you in two ways. First, you will be able to deduct that area of your home on your taxes. Second, it will help you know when you are working and when you are not. If you have a family, make sure they understand that when you are in your office, you're working and are not to be disturbed except for an emergency. That way you will be able to focus without constant interruptions.
Tip #3: Introduce your business to at least one new person every day.
It could be someone you know (from your warm market list) or someone you meet. If you do this 6 days a week (take Sunday off) and 50 weeks (take 2 off for vacation), you will prospect 300 new people each year. With just a 10% closing ratio, you would add 30 new people to your team each year. Now, imagine if they all did the same. It's as easy as saying, "Say, would you be interested in making some extra money, if it didn't jeopardize what you are doing now?" OR "You seem like a sharp person, do you keep your eyes open for ways to make extra income outside of what you do now for a living?" The key is to find a question that works for you and ask someone new every day.
Tip #4: Do What Business Owners Do
When you join an MLM / Network Marketing company, you are in business, so do what every other business owner does - create a business entity (sole proprietorship, partnership, LLC, corporation) and get licensed in your state. Get an EIN (Employer Identification Number) from the IRS and then set up a separate bank account. All your MLM income and costs should flow through that account. This will keep you legit with the IRS and will give you the right business mindset to achieve success.
Tip #5: Find a coach.
Every athletic team has a coach and every top network marketer had/has a coach. The best coach is an upline leader who has already achieved success in your company. Ask them to devote time each week to coaching you. The key is to do what they say. They've been there, done that, got the t-shirts, so all you have to do is listen and follow. If you join my MLM Tip of the Day list and community on Facebook, you can be part of my exclusive Group Coaching program. Go to www.DailyMLMTips.com and subscribe to the free list or find the MLM Tip of the Day group on Facebook and join or do both.
There you go. Remember, it's one thing to just read through these 5 MLM / Network Marketing success tips and think about them and it's another thing to put them into action in your business. So, I hope you will study them and then become a doer!
Tuesday, September 24, 2013
Tuesday, July 30, 2013
Tuesday, July 23, 2013
Leads, Leads, Leads
In a recent query of my MLM Tip of the Day list (www.DailyMLMTips.com) I found that one of the biggest challenges network marketers are facing is finding people to sponsor into their business. Not a big shock, as during my 34 years in MLM, this has always been one of the biggest challenges. Now, unlike all the gurus out there, I don't claim to have all the answers or some magical system that produces an unending supply of leads. However, I can give you some time-proven, field-tested ideas that have worked for me and other top income earners. Here we go:
1. The best leads are always people you know, so start there. If you were opening a restaurant or a retail store, you would certainly tell all your family members and friends, wouldn't you? So, why wouldn't you want to tell them about your network marketing business? Particularly when it could completely transform their lives. You are really doing them a disservice by not giving them the opportunity to look and make their own, educated decision, about your business. AND, don't worry about what they are going to say or think, because what you are worrying about very, very rarely ever happens. You are just the messenger, so deliver the message and if they aren't interested, that's okay, move on.
2. The next best leads are people your friends and family know, so make sure you are always asking for referrals. Learn to ask, "who do you know that is highly motivated and would like to make very serious money in the coming years?" If they don't come up with anyone, you can push it a little, "Really, you don't know anyone who would like to make some big time money and save thousands on their annual taxes each year?" "How about some of your friends? Relatives? Business associates? People you go to church with?" If you push a little (not too much or they will get irritated), they will generally come up with someone. Then just ask them to introduce you by phone, text, or email, so you can contact them. If you keep asking the "who do you know" question, you will have a never ending supply of leads. AND that's the truth!
3. The third best leads are people you meet in your local community, so make sure you are always alert to good prospects. You are looking for people who are good workers, have a positive attitude, and relate with other people well. You can find them at restaurants, drive-through windows, banks, grocery stores, department stores, the post office or other shippers, copy centers, office products stores, cellular stores, computer stores, and anywhere else you go. All you have to do is compliment and ask: "You are an excellent worker, would you be open to earning money outside of what you are doing here, if it didn't jeopardize your job?" If "yes" get their name, email, and phone and promise to email info and call to answer questions.
I also encourage you to become a networker. Go to www.MeetUp.com and find meet-up groups in your local area that would be attended by the kind of people you would like to have in your business. If there aren't any, start one. Also, check the internet for lead exchange and networking groups in your local area. The Chamber of Commerce mixers are a great place to meet motivated business people who might want to diversify their income. Finally, look for local seminars, classes, conferences, and trade-shows where you could meet motivated business or salespeople.
4. The fourth best is to generate leads through social media. By posting on Facebook, Linked-In, Twitter, Instagram, and others, you can find people who are interested in starting a home business. The best way to do this is to post beneficial information that relates to a home business - articles about how many people are starting home businesses or about people who have had success in a home business. Also articles about the economy and the need for extra or retirement income. The more value you create, the more people will trust and respect you. When you see people like your posts, private message them to see if they might be interested in a solution (your home business).
5. The fifth best type of lead are those you purchase. You can purchase very highly qualified leads for $3 to $5 each, which might seem like a lot of money per lead, but if they become a solid customer or member of your team, they will be worth a lot more than that and could bring in others with them. I've successfully used this type of lead, but actually I prefer a less expensive lead that I can send into my automated qualification system, which will then produce more highly qualified leads which I can call. There are many lead vendors out there. My preference is MLMLeads.com, as they have great leads and excellent free training.
These are just my favorite 5 ways to generate leads and the methods I have used to build several large networks and a very nice full-time income since 1998. I hope that they will help you do the same. If you have questions, please feel free to contact me. I'm always looking to help other network marketers.
Rod Nichols, www.RodNichols.com
1. The best leads are always people you know, so start there. If you were opening a restaurant or a retail store, you would certainly tell all your family members and friends, wouldn't you? So, why wouldn't you want to tell them about your network marketing business? Particularly when it could completely transform their lives. You are really doing them a disservice by not giving them the opportunity to look and make their own, educated decision, about your business. AND, don't worry about what they are going to say or think, because what you are worrying about very, very rarely ever happens. You are just the messenger, so deliver the message and if they aren't interested, that's okay, move on.
2. The next best leads are people your friends and family know, so make sure you are always asking for referrals. Learn to ask, "who do you know that is highly motivated and would like to make very serious money in the coming years?" If they don't come up with anyone, you can push it a little, "Really, you don't know anyone who would like to make some big time money and save thousands on their annual taxes each year?" "How about some of your friends? Relatives? Business associates? People you go to church with?" If you push a little (not too much or they will get irritated), they will generally come up with someone. Then just ask them to introduce you by phone, text, or email, so you can contact them. If you keep asking the "who do you know" question, you will have a never ending supply of leads. AND that's the truth!
3. The third best leads are people you meet in your local community, so make sure you are always alert to good prospects. You are looking for people who are good workers, have a positive attitude, and relate with other people well. You can find them at restaurants, drive-through windows, banks, grocery stores, department stores, the post office or other shippers, copy centers, office products stores, cellular stores, computer stores, and anywhere else you go. All you have to do is compliment and ask: "You are an excellent worker, would you be open to earning money outside of what you are doing here, if it didn't jeopardize your job?" If "yes" get their name, email, and phone and promise to email info and call to answer questions.
I also encourage you to become a networker. Go to www.MeetUp.com and find meet-up groups in your local area that would be attended by the kind of people you would like to have in your business. If there aren't any, start one. Also, check the internet for lead exchange and networking groups in your local area. The Chamber of Commerce mixers are a great place to meet motivated business people who might want to diversify their income. Finally, look for local seminars, classes, conferences, and trade-shows where you could meet motivated business or salespeople.
4. The fourth best is to generate leads through social media. By posting on Facebook, Linked-In, Twitter, Instagram, and others, you can find people who are interested in starting a home business. The best way to do this is to post beneficial information that relates to a home business - articles about how many people are starting home businesses or about people who have had success in a home business. Also articles about the economy and the need for extra or retirement income. The more value you create, the more people will trust and respect you. When you see people like your posts, private message them to see if they might be interested in a solution (your home business).
5. The fifth best type of lead are those you purchase. You can purchase very highly qualified leads for $3 to $5 each, which might seem like a lot of money per lead, but if they become a solid customer or member of your team, they will be worth a lot more than that and could bring in others with them. I've successfully used this type of lead, but actually I prefer a less expensive lead that I can send into my automated qualification system, which will then produce more highly qualified leads which I can call. There are many lead vendors out there. My preference is MLMLeads.com, as they have great leads and excellent free training.
These are just my favorite 5 ways to generate leads and the methods I have used to build several large networks and a very nice full-time income since 1998. I hope that they will help you do the same. If you have questions, please feel free to contact me. I'm always looking to help other network marketers.
Rod Nichols, www.RodNichols.com
Thursday, June 20, 2013
A Remarkable Business
Patti was a single mother of six children living in a rural
town with a population of only 8,000 and had just lost $75,000 in her
traditional business. She had researched all kinds of traditional businesses
and franchises, but there seemed to be only one type of business that would
enable her to stay home with her children, quickly pay off the debt, and earn a
nice six-figure income within the next five years – network marketing.
Collette was a single mother of five children, of which two
were seriously ill and required regular medical attention. She was deeply in debt and could only work
part-time as a secretary. The medical
bills were piling up and the future looked very bleak. That was when she was introduced to a
fantastic home business by her brother.
At first Collette didn’t think she could be successful, because she had
never operated a business before and had no sales or marketing experience, but
this business was different. It seemed to be her answer from God – network
marketing.
What’s remarkable about network marketing?
The incredible, almost unbelievable stories and these are
just three of the thousands from the network marketing industry. It’s truly a
life altering business and how many other types of businesses can you say will
radically change your life? I certainly haven’t found any others. I mean
really, name me another type of business where a twenty-three year old carpet
installer with an injured shoulder and no money, or a seventy year old butcher,
could become millionaires within a few years. Network marketing is the only
answer.
Oh, here I am ranting and raving about how amazing network
marketing is and you’re probably wondering about Del
Well, Del
Network marketing is the most remarkable business I’ve ever
seen and since I’ve been a business consultant for many years and have
thoroughly researched thousands of businesses, that’s quite a statement. It’s
the only business I’ve ever seen that enables the average person, regardless of
age, gender, financial situation, past experience, education, knowledge, or
even language, to start a business with little to no money and in a few short
years are living the lifestyle of the rich and famous.
Can anyone be successful in network marketing?
Since my entry into the industry in 1979, I’ve had the good
fortune to interview hundreds of the top income earners and I can honestly say
that “YES” anyone can be successful in network marketing. Now, don’t stone me.
I didn’t say that everyone would be successful; I just said that everyone could
be successful, because I’ve seen people from all walks of life achieve high
levels of success in network marketing.
I don’t believe that
anything in this world is perfect, but network marketing is as close to the
perfect business as I think you will ever find. If you’re looking for a
business, you will find nothing better than network marketing – low start-up
investment, proven turn-key system, high quality products and services,
outstanding training and support, quick compensation, movable, unlimited growth,
no employees, very little overhead, can be operated from home either part- or
full-time, and produces long-term residual income, just to name a few reasons
why you should seriously investigate this truly remarkable business.
If you are currently in network marketing or were sometime
in the past and have never been successful, perhaps you picked the wrong
company, product/service, compensation plan, timing, or upline. Many people get
into the first network marketing company that comes along, without doing any
research or due diligence. Uncle Joe, who doesn’t have any money and has never
owned a business, shows you a network marketing company and it must be good,
right? I don’t think so. Not every company is right for every person. You’ve
got to find the right one for you.
However, once you find the right company, then there is just
one secret to success – WORK! I know, you were hoping for that get rich quick
deal – well get over it – they don’t exist. Network marketing is a real
business and it requires work – prospecting for people interested in your
products/services or business, presentations, answering questions and handling
objections, follow-up, sponsoring, training, and supporting. If you do these
things and treat it like a real business, in time, you will be successful.
Who knows, perhaps some day you will be like Del
Friday, April 26, 2013
Join the 3%
Watch this short video and learn why it's so important to move away from the 97% and join the 3%. I've spent over three decades studying success and business; the only way I've found for the average person to move from the 97% to the 3% is through network marketing. So, the first step is to join a good network marketing company. Then, it's to do what is necessary to succeed, so you can live the life of your dreams. As Jim Rohn says, it's also easy not to do those things, but that will result in you living a life as a 97%er. Your choice!
If you haven't found a good network marketing business and a mentor who really cares about you and your success, go to www.RodNichols.com and check me and my business out. I'd love to work with you to help you join the 3% and live the life of your dreams! - Rod Nichols
Friday, March 29, 2013
How to Keep Your Downline
As a veteran network marketer, top income earner, author, coach, and speaker, the most common question I hear and the biggest challenge faced by most network marketers is how to keep your downline. During my first 15 years in this great profession, this was a major challenge for me and my answer was always to sponsor more people. In one company I personally sponsored over 150 people and never earned a full-time income. It wasn't until I learned how to keep those I enrolled that I started making a big time income.
Here are the three things I do (and the other top income earners do) to keep my downline:
1. Help them earn money quickly - My first goal with a new member is to help them earn enough to cover their monthly product purchase. Next is to help them earn $500 above their product cost. At this point, they can't afford to leave. Finally, I want to help them earn enough to quit their job and enjoy true freedom. So, your first step is to work with an upline leader to figure out what a new person would have to do to earn their monthly product for free, make an extra $500 per month, and develop incomes of $50,000, $100,000, and $200,000.
2. Get them hooked on your products/services - This way at the very least, they will be a product/service user for life. First, is to make sure they have a personal experience. Second, provide them with information that shows why your product/service is unique, proprietary, patented, exclusive, and better than all the competitors. Third, help them introduce your products/services to their friends and family, so they can build an array of testimonials from people they know.
3. Recognize them - Most people go through life feeling underappreciated. You, as their sponsor and upline leader, have a chance to change that. Recognize them for the smallest of things - attending a meeting/conference call/webinar, making their list, setting up their company web site, going through the company training program, contacting their first person, setting up their first 3-way call, enrolling their first customer/member/distributor, achieving their first rank advancement, and so on. People will often do more for recognition, than they will for money, so recognize them often.
If you do these three things consistantly, you will retain a much higher percentage of your team. Don't get discouraged when some still quit. Remember that this business is only for those who are willing to do the work to succeed. If they aren't willing to do the work, there is nothing you can do for them. Wish them well, let them go, and focus on those who are putting out the effort. The result will be a solid and loyal team.
============================================================================
Rod Nichols has been involved in the network marketing profession since 1979 as a company founder/operator, distributor, coach, trainer, speaker, and author. Several of his books have been industry best sellers and he has trained tens of thousands of people on how to be successful in network marketing. Recently he was featured in Better Networker's The Definitive Guide to Home Business Success - http://jvz6.com/c/79637/23465. He is also the publisher of The MLM Tip of the Day - www.DailyMLMTips.com. For more information about Rod, go to www.RodNichols.com.
Here are the three things I do (and the other top income earners do) to keep my downline:
1. Help them earn money quickly - My first goal with a new member is to help them earn enough to cover their monthly product purchase. Next is to help them earn $500 above their product cost. At this point, they can't afford to leave. Finally, I want to help them earn enough to quit their job and enjoy true freedom. So, your first step is to work with an upline leader to figure out what a new person would have to do to earn their monthly product for free, make an extra $500 per month, and develop incomes of $50,000, $100,000, and $200,000.
2. Get them hooked on your products/services - This way at the very least, they will be a product/service user for life. First, is to make sure they have a personal experience. Second, provide them with information that shows why your product/service is unique, proprietary, patented, exclusive, and better than all the competitors. Third, help them introduce your products/services to their friends and family, so they can build an array of testimonials from people they know.
3. Recognize them - Most people go through life feeling underappreciated. You, as their sponsor and upline leader, have a chance to change that. Recognize them for the smallest of things - attending a meeting/conference call/webinar, making their list, setting up their company web site, going through the company training program, contacting their first person, setting up their first 3-way call, enrolling their first customer/member/distributor, achieving their first rank advancement, and so on. People will often do more for recognition, than they will for money, so recognize them often.
If you do these three things consistantly, you will retain a much higher percentage of your team. Don't get discouraged when some still quit. Remember that this business is only for those who are willing to do the work to succeed. If they aren't willing to do the work, there is nothing you can do for them. Wish them well, let them go, and focus on those who are putting out the effort. The result will be a solid and loyal team.
============================================================================
Rod Nichols has been involved in the network marketing profession since 1979 as a company founder/operator, distributor, coach, trainer, speaker, and author. Several of his books have been industry best sellers and he has trained tens of thousands of people on how to be successful in network marketing. Recently he was featured in Better Networker's The Definitive Guide to Home Business Success - http://jvz6.com/c/79637/23465. He is also the publisher of The MLM Tip of the Day - www.DailyMLMTips.com. For more information about Rod, go to www.RodNichols.com.
Tuesday, January 22, 2013
MLM & the Top 50 Article Directories by Rod Nichols
A great way to build your network marketing / MLM business is to become an expert. Normally, to become an expert, you would have to invest years into your craft, but today, because of the magnitude of the internet, you can become an expert within a couple months. Here are 2 steps that will help establish you as an expert in network marketing / MLM:
1. Write 10 articles about network marketing and include an offer for free information by linking to your web page.
2. Submit these 10 articles individually to the top 50 article directories:
1. Write 10 articles about network marketing and include an offer for free information by linking to your web page.
2. Submit these 10 articles individually to the top 50 article directories:
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