MLM is a $180+ Billion dollar global business, but many people don’t know what to do. Find out, 10 Secret Ingredients for MLM Success Online.
MLM, also known as network marketing, is a business model companies use to distribute their products using people like you and I, instead of using expensive, yet non-effective traditional advertising.
Many people fail. The failure rate is high in any competitive industry, but MLM does not have to be this way.
The end result of becoming successful in MLM is becoming financially free, helping thousands of people enrich their lives, and fulfilling many dreams and ambitions we have.
Here Are 10 Secret Ingredients for MLM Success Online:
1. Understanding what MLM is
MLM is not a get-rich-quick scheme or Pyramid. End of story. There is work and strategy involved in network marketing.
The people who say “Only the people at the top make all the money,” need to realize that everyone in MLM started at the bottom and worked their way up with a lot of hard work, just like you do in any other business.
In fact, the CEOs in every corporation earn most of the money, but no one says “only the people at the top make all the money” for corporations, do they?
When I started my network marketing business, I had no special positioning, even when I entered at ground floor, which many hype marketers proclaim to be the best time to join.
In fact, “ground floor” opportunities usually suck, because they don’t have everything figured out yet, usually don’t have enough staff, and manufacturing and shipping capabilities for a large influx of orders.
I didn’t make all the money because I was supposedly at the top. I started with nothing and slowly started to recruit people into my business, just like a small business slowly acquires customers in the beginning.
Realize MLM is a real business and will take a couple years to start to grow and many years to become a top-earner, but this is still far quicker than a 40 year job that will barely fund your retirement.
Many people start MLM for supplemental income, but then realize it could be job-replacing income and much more. There is no income cap and top network marketers make over a million dollars a year.
2. Finding the right Product
If you’re promoting a product you don’t use or like, you’re dead in the water.
People will smell your insincerity and lack of passion. You have to love your product. It’s the only way to become a leader in this industry.
Imagine a car salesman who hated Ford, but he sold Ford at his job. Imagine his lack of enthusiasm. People would know and walk away.
So, in short, use the products. Start memorizing some key points about it so when you’re prospecting you can answer questions quickly and naturally.
You don’t need to know everything. Too many people never start MLM because they think they have to be perfect and know everything. Find the key points of what you love about the product and go for it!
3. Strong Testimonial
This ties in with #2.
After you use your product, you’ll want to document the results. You’ll want to notice what it has done for you.
I was just on the phone today with a prospect and he asked what I noticed when I first started taking the product.
Know what it does for you.
Many successful distributors produce content on the internet, either with blogging or video, of their story, their personal testimonial of the product.
The company I’m in had a Monday night testimonial call where users of the product called in and told their story. Very powerful.
Your story can make or break you, but don’t fabricate your story either.
4. Branding Yourself, not the Product
Many new distributors make the mistake of slapping up a photo of their product on social media and adding their distributor number in the bio.
This is the worst thing you can do. People need to know, like and trust you to do business with you. They can’t do anything with your distributor number, no one cares about that.
What they do want to know about you are your hobbies, your interests, and your testimony. They want to understand you.
If you have an interesting perspective on life, they will want to learn more about you. No one cares if your product has Omega 3’s in it.
They want to know how they will “feel” on your product. They want to know how you “feel” about travelling the world because of what MLM has done for you.
Brand yourself online. Use a picture of your face for your headshot and smile. No one wants to join a grumpy person, but don’t act super happy and fake either.
Also, make sure that you are consistent with your headshot and bio among all the social media platforms. It’s hard for people to know you are the same person on Pinterest as you are on Twitter if your headshot is completely different.
You want to be recognizable across all boards because you are an MLM internet entrepreneur authority.
5. Finding your Social Media platform
In order to make money in MLM you need to promote your product or services. If you’re promoting it online, you will want to master one social media account at a time.
When I started promoting my business, I concentrated on using Twitter instead of Facebook, like so many people were using.
I learned all the tricks about Twitter and it paid off with not only over 250,000 real followers on my Twitter, but also 100 new reps in my business.
It pays to learn everything about your social media. Find what matches your style. If you are an extrovert, shoot videos and learn video marketing; if you’re an introvert like me, start a blog, if you love image design use Pinterest, if you love pictures, use Instagram, etc.
6. Learning your new profession
I would have quit a long time ago if I didn’t prepare myself for what was to come with MLM if I hadn’t watched tons of videos about MLM on YouTube, and read many books on network marketing from Amazon.
Learning your new profession is essential if you want to become successful.
There are many aspects of marketing you need to understand, including inviting, recruiting, prospecting, using your prospecting “tools”, objection handling and closing.
Leaders are always learning new techniques from training. Don’t ever stop learning because you need to keep your organization up to date with better and more useful techniques.
Leaders are also humble. They never admit that they know everything and are willing to listen.
Like I said before, MLM is a real profession, most college students study over a thousand hours for their Bachelor’s Degree and that’s to barely get their foot in the door to an entry level job.
“Treat MLM like a Profession and it will pay like one. Treat it like a hobby and it will pay you nothing.”
7. Working with your Sponsor
Network marketing is about networking with others. The person who showed you this business and you signed up under is your sponsor.
It’s imperative to learn from them. Ask what kind of training and marketing tools they provide. If your sponsor is MIA and not doing anything, find their sponsor and ask them. Go up the line until you find a sponsor who is willing to work with you.
Your sponsor might even quit the MLM business. As a leader, it’s your turn to step up and be the leader.
You don’t want to quit because someone else did.
The grass is never greener on the other side in business, unless the company is bad from the start.
Stay the course and never quit.
8. Masterminds and Webinars
Leaders work with others to obtain their goals. Greatness is rarely achieved alone. Even people like Tony Robbins have an entire staff helping him, including his wife and family.
Find a few people to Mastermind with. People you can check in with weekly or monthly to discuss business developments.
Company webinars are also great for training.
Find out from your sponsor if there are any webinars coming up or recorded that you can watch.
Webinars keep the team together and on the same page. Businesses don’t grow when everyone is doing their own thing.
95% quit MLM. The sad fact is after a year, only 5 to 15% are left.
This is mainly due because the ones who quit didn’t see results fast enough, were misled by a greedy recruiter, or they just didn’t have the vision to pull them through.
That’s why it’s important to get informed when you join on the work necessary to achieve success in MLM or direct sales.
It’s also imperative to use the product and fall in love with it. If you don’t love the product or company, your time is going to be short.
And, also, you might have joined thinking you could make $2000 a month the first month.
This is not entirely impossible, it’s done all the time, but these people who make big money fast have a large circle of influence.
Most people don’t see enough money to stay in. The real money comes when you develop a team of people who also bring in people.
You earn leveraged income off the efforts of many people.
It takes time to develop this organization, but once you do you are making great residual income monthly, whether you work or not.
Understanding all these nuances of network marketing will keep you going during hard times and get you where you want to go financially, physically and spiritually.
10. Never quitting
True MLM leaders never quit and that means they never truly “fail.” You can fail many times, which you will in this business, but leaders learn from it and try a different approach and keep going. They never stop.
I know of many people that stayed in the MLM business and didn’t recruit a single person for their first year.
They kept showing up on network marketing webinars and testimonial calls and always were learning from the leaders.
Eventually, these dedicated direct sellers that stuck around are on the leaderboards of their company and finally making money. If you want this bad enough you can have it.
As Arnold Schwarzenegger said, “Reps,reps,reps.”
Do the productive thing day in and day out and you will climb the ladder. It’s all about our rituals.
Schwarzenegger worked out twice a day to rise above his competition.
Those thousand reps a day added muscle upon muscle to his body. Clearly his advice worked for him, and it can work for you if you work hard and work smart.
Mastering MLM & Dominating Direct Selling
Find what works in your business and repeat it day in and day out and success is inevitable.
Once these MLM rituals are formed in your daily business practice, you will be unstoppable in network marketing and direct selling.