Nike made the phrase popular and it is perfect for network marketing. Having been in the industry for over 29 years, I've had a chance to work with tens of thousands of network marketers and have found there are many reasons why people fail, but the consistent number one is lack of productive action.
To build a large and lucrative network marketing business, you need to do X things:
1. Learn - gain knowledge about your company, products/services, and compensation plan. You don't have to know everything, but at least know where to get the answers.
2. Prospect - talk with people about your business. There many great methods for prospecting. Make sure you talk with your upline leaders about how they are doing it. The key here is to think of your business like a funnel. You place a lot of new prospects in the top (which is wide) and a few come out the bottom (which is narrow). The more you put in, the more will come out.
3. Sponsor - the key here is to sponsor people correctly. Most network marketing businesses have a starter kit that costs under $50. This is the cost to join a company. However, if you are working with a legitimate product company, you will want your new recruits to understand the products and that requires them to use them. So, typically there is a starter product pack that you should recommend. Also, they will need a web site and marketing materials, so make sure you include all those things in their starter pack. If you start people out right, they have a much better chance of success. You should also work with your upline leaders to set goals for the number of new people you will sponsor monthly. In the beginning, you should invest 90% of your time to prospecting and sponsoring. Once you've built a good size network with a number of solid leaders, who are building on their own, then you can back off a bit, but you should never go below 50% of your time dedicated to prospecting and sponsoring.
4. Train - poor or lack of training is another primary reason for failure in network marketing, so make sure that your new recruits get good training. Check with your company and upline to see what is already offered. For the first 30 days, you should stay very close to your new recruit. Your goal should be to help them recruit at least a couple new people in their first month and to get them earning $500 a month as quickly as possible. If a person is making $500 a month, they will stick. Offer yourself for personal meetings and 3-way calls with prospects. Then help your new recruits train their new recruits.
5. Support - once your downline members are up and running on their own, continue to support them through encouragement, contests, advanced training, gatherings - meetings/teleconferences, etc. Your job is to build a cohesive team that is all striving toward success together. TEAM = Together Everyone Achieves More.
Determine how much time you can commit to your business every week and then do these five things. If you do this consistently, you will be successful and enjoy the fruits of your labor - time and financial freedom.
Best selling author and top network marketer, Rod Nichols reveals the closely guarded power secrets for building a BIG money network marketing (MLM) business.
Showing posts with label leadership. Show all posts
Showing posts with label leadership. Show all posts
Wednesday, August 20, 2008
Wednesday, August 13, 2008
Leaders Are Found, Not Made
Some people have it and some don't. Unfortunately, a small percentage - probably under 5% have it. What is it? Leadership!
Every person who has been in network marketing for awhile knows what I'm talking about. You've seen that person who does his/her due diligence prior to joining you, then takes off like a rocket. They make up their list, they call you for help, they set up meetings and ask you to speak, they are at every group presentation and training. They are leaders. They will make or break your business.
If you have leaders in your business, you're business will grow on its own. They will find other leaders, who will find other leaders and so on. This is what makes a successful network.
So, how do you find leaders? They are pretty easy to recognize. Here are some characteristics to look for:
1. They are probably already a leader in the community, at their job, at church, or in sports.
2. They are successful at work.
3. They truly care about other people and show it.
4. They are active in their church. Not just Sunday attenders.
5. They go above and beyond the call of duty when necessary.
6. They are friendly and fun.
7. The have an extremely high level of integrity.
8. You can count on them to do what they say.
9. They lead by example.
10. They are organized, structured and goal oriented.
These are just a few characteristics that you can look for. Now, where can you find these people? Look for them at work, the PTA, Chamber of Commerce, Rotary, Kiwanis, Boy Scouts, church, sports, non-profit organizations, clubs, etc. You will recognize them quickly, as they are the leaders in those organizations.
Your job is to show them how they can be a leader in your organization and help thousands of people improve their lives. If you do a good job of presenting your case, they will join and you're off to the races.
Every person who has been in network marketing for awhile knows what I'm talking about. You've seen that person who does his/her due diligence prior to joining you, then takes off like a rocket. They make up their list, they call you for help, they set up meetings and ask you to speak, they are at every group presentation and training. They are leaders. They will make or break your business.
If you have leaders in your business, you're business will grow on its own. They will find other leaders, who will find other leaders and so on. This is what makes a successful network.
So, how do you find leaders? They are pretty easy to recognize. Here are some characteristics to look for:
1. They are probably already a leader in the community, at their job, at church, or in sports.
2. They are successful at work.
3. They truly care about other people and show it.
4. They are active in their church. Not just Sunday attenders.
5. They go above and beyond the call of duty when necessary.
6. They are friendly and fun.
7. The have an extremely high level of integrity.
8. You can count on them to do what they say.
9. They lead by example.
10. They are organized, structured and goal oriented.
These are just a few characteristics that you can look for. Now, where can you find these people? Look for them at work, the PTA, Chamber of Commerce, Rotary, Kiwanis, Boy Scouts, church, sports, non-profit organizations, clubs, etc. You will recognize them quickly, as they are the leaders in those organizations.
Your job is to show them how they can be a leader in your organization and help thousands of people improve their lives. If you do a good job of presenting your case, they will join and you're off to the races.
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