June 14, 2008
Three Tips to Build A Successful MLM
Many network marketers struggle in mlm. They want to know how to recruit people for mlm and how to build mlm the best way. The truth is, if you are struggling, your lack of success in not your fault. Here are three tips that can guide you to a great mlm career.
Tip #1 Change your mentality. People feel they fail for many reasons. They think they are not coming out of their comfort zone. Some think they are too tall, too short, or are not attractive enough. Some feel their failure to go to company events is the problem or they just are not cut out for mlm.
If you are thinking like this, stop! All of us have been recommending and promoting for years and years. If we choose to stop, we will just stop our paycheck.
The problem is that many of us have been convinced that mlm is a sales business. Because of this mentality, we stop recommending and promoting.
One of the secrets to mlm success is realizing this is a mentoring and coaching business; a relationship business. Anybody can do this if they truly want to. We just teach how to pick up the paycheck.
Tip #2: Learn to generate your own leads. Many people in mlm buy leads. This is not the best way to build your business. You see, many leads lists are sold to a number of different companies, so your "hot" prospect might already have had numerous other calls from folks trying to get them in "on the deal".
When it come to how to recruit in mlm, another important point is that this isn't a duplicatable system. Believe it or not, some people out there are paying $100 per lead and spend $1500 a month on leads. Plus, they spend around $2,000 on their company's product. Now, think for a minute. How duplicatable is this for most people? $100 a lead and $2,000 a month on products? Can you see when it comes how to recruit people in MLM and how to build MLM, this is a bad strategy?
The bottom line is first, you do not need to buy leads especially when it is much easier to generate your own. Second, it is crucial you have a duplicatable system so it is not difficult for you and your downline to recruit people for your mlm business.
Tip #3: Take a careful look at how big the company's building is. This sounds weird, but it is something that should be carefully considered.
Have you ever taken the time to think about how much upkeep a huge building requires? Not only this, but also how much staff it takes to keep the operation going?
You see, when a company has a huge building with a lot of staff, the company has to pay for the lights, keep the lawn mowed, pay for electricity, maintenance people, etc., that can add up very quickly!Plus, with all that staff comes salaries, bonuses, vacation time, health benefits, short-term disability, and the like. The bottom line, it all adds up, for some, to millions a month in overhead.
You may ask who is paying for all of this? In many cases the money has to be taken from the compensation plan. Also, products prices can be high to help cover costs. Whatever the case, this is a bad scenario.
You want to always make sure you bring your people into a strong company where they will be paid well for their efforts and where products are sold to consumers at the best price. This will help them build a successful business.
So, when it comes to how to recruit people for mlm and how to build mlm, if you keep these important points in mind, you will be well on your road to success!
Posted by mlminternetcoach at 04:26 PM | Comments (0)
June 02, 2008
How To Be Successful In MLM
Many people in network marketing desire to know how to be successful in mlm. Indeed, with the attrition rate so high, finding success is not always easy. Many people do not realize that asking one simple question can greatly increase their chance of success? The question is quite simple. It is asking if they are in a vampire network. Read on to discover what a vampire network is.
-Vampire network question #1: What is a vampire network? A vampire network is always out for new blood. It is a company that constantly pushes distributors to build a huge downline. There is no true product and people would not join if there wasn't a business opportunity associated with it. Recruiting is important, but is spells bad news if it is the primary focus.
-Vampire network question #2: Is anyone retailing products or are they just garage qualified? Of course, everyone should continue to seek new leaders to grow and develop, but not to the point where no retailing of products occurs. There has to be a balance.
-Vampire network question #3: Where is the focus? If the focus is only on recruiting, and you are getting paid just to recruit, this is vampire networking.
-Vampire network question #4: What is the product price? Is it competitively priced? Is the product price being inflated? Remember, only a few companies manufacture products for most mlm companies. Inflated prices occur when a company's products are very high and the same product can be found with another company for much less. Plus, if you can find the product in places like Wal-mart, Costco, Safeway, on Ebay, etc., this spells trouble for distributors. Who can compete against Wal-Mart? When it comes to how to be successful in mlm, being involved with a company such as this will make success difficult.
-Vampire network question #5: What profit are people making? A profit is simply the difference between the wholesale and retail price of a product. If distributors only get 3%, 5%, 7%, etc. of the wholesale profit, they are going to need many, many people to build a good income. Many people more than likely means a couple of thousand or more. Ouch! Vampire networking!
-Vampire network question #6: How much overhead does the company have? For some, this sounds weird but it is important to consider. The less overhead, the more a company can put in a compensation plan for distributors.
-Vampire network question #7: Are bonuses paid out? Do people have to go through so many hoops that only the top 1% of people are qualified? This is especially important to consider since most people in mlm are part-timers. If almost no one ever qualifies, where does the money go? If people are looking at how to be successful in mlm, think about this very carefully.
-Vampire network question #8: Would people buy the product if there were no business opportunity associated with it? The question to always ask is if the recruiting stopped for any amount of time, would the company still be in business? If there is no true product yet lots of recruiting going on, it's an illegal pyramid scheme.
So, to answer the question how to be successful in mlm, think carefully about the above questions. If some people don't like their answers, it means they very well could be in a vampire network where success will be very difficult. Choose to be part of a company where you can build it big for your children and your children's children.
Posted by mlminternetcoach at 04:28 PM | Comments (0)
