Depending on who you talk to, network marketing is the greatest wealth creating concept ever invented or a giant Ponzi/pyramid scheme-based cult that leaves victims penniless. Both situations are likely depending on how a person is exposed to it, gets started, and builds their business. I have experienced “the dark side” side of network marketing over for 15 of the past 25 years but have finally crossed over into the wealth creation side. I have joined more network marketing “opportunities” than I can count on my fingers, but I can say that in all but two of them, I have lost more money than I have made. So, what does it take for you to have success? Here is the list:
· You need to have a strong personal “WHY”, with
· the right mindset, starting at
· the right company, with
· the right products you resonate with at
· the right time with
· the right team, and
· right training and motivation
This might seem like an impossible list, but I assure you, it is not. There are more home-based millionaires created through network marketing than through any other business approach. The more important fact is that there are even more network marketers are making over $20,000 to $100,000 per year with their little home-based businesses. These are normal people you probably know but would never suspect are MLM’ers. I call the concept, “Anonymous Wealth™”.
Your Past Does Not Matter
The good news, believe it or not, is that even if you have been unsuccessful with past MLMs like I was, all the above “gotta haves” are within your grasp if you want it badly enough. So, the question is: How successful do you want to be and what personal effort are you willing to put in to get your piece of the MLM success pie? Simply buying a starter kit and joining a network marketing company won’t make you rich. Like every business, you must dedicate some of your valuable time and resources and make a personal commitment to the journey to end up at a happy destination.
How much do you want to make, and what personal effort are you willing to put in to get your piece of the MLM success pie? Before I go farther, let me introduce myself. I’m Ron Wilder. My wife, Liz, and I quickly reached the Diamond level in a popular network marketing company and we started with no previous network of MLM’ers to draw from. I have personal experience of how to build a successful network marketing business to a nice, passive income level which I currently maintain on an hour or two a month. Why? Because I duplicated the right way. In this blog post, I will share twelve secrets I have uncovered over the years that finally moved us across the river from the “cults”, to financial and time freedom. Most highly successful network marketers know these secrets that I will share with you now. And they will also probably admit that moving across the river took some serious personal growth to get there. I like to say that this business is simple, but not easy! Below, I will provide each secret with a brief description to give you a general flavor of each. You can read upcoming blog posts and my book Beyond the Products to dig deeper into each of them.
Secret #1: Build a People-Centered Business
Every MLM compensation plan always pays more to distributors who build a network of network builders than they do to distributors who directly sell products. Why is this? Because the company sells more products when their network grows virally rather than through direct sales. So, they reward the distributors who bring in other distributors more than ones who only bring in customers. Duplicating the network is much more profitable that simply adding more customers. If you ask the intergalactic diamonds to tell you honestly who they prospect for their businesses, they’ll tell you, “builders, not just customers.”
Secret #2: Lead, Don’t Manage
Since we are building a people-centered business, good relationships are essential. It is also important to realize that everyone coming to network marketing is volunteering their time and resources to build their businesses. Volunteers don’t want another job with a “manager” telling them what to do, when to do it, how to do it, where to do it, etc. They want you, their leader, to inspire them! They want leadership, not a manager.
Your distributors are working hard for THEIR dreams, not yours. Managing is about YOU getting what you want. Leading is about THEM getting what they want, which ultimately gets YOU what you want, if you work together as a team.
Secret #3: Build Fast
Building your business quickly earns money faster for two reasons. First, it creates team momentum because all your business builders are working to build at the same time. Your rapid rank and income increases show them they can do it do just by following your footsteps at the same time. Second, many companies provide “fast start” bonuses or offers that expire within the first 30 to 90 days a new distributor is in the company. Why? Because they realize most new distributors will lose interest if they don’t make some money, any money quickly.
Secret #4: Prioritize Your Time
If we are honest with ourselves, whether it is watching TV, shuttling kids to soccer practice, or “consuming” Facebook, we all waste an amazing amount of time. Minutes turn into hours, days, and weeks and before you know it, even months and years. Also, distractions are ever present around all of us. Your mobile phone sits by your side, 24 Hours a day with ringing calls, tweets, Facebook messages, text messages, and YouTube videos you just must watch. And don’t get me started on politics! Even our families come to us with “emergencies” that only we can handle. Yeah, right! You must learn how to prioritize and leverage the precious few minutes to hours we have a day to build our businesses. There are some great tools for this.
Secret #5: Your SMART WHY is Your Fuel
We have all heard how important having a powerful “WHY” is to motivate you to build your network marketing you wishing for the stars which simply doesn’t give you the daily motivation, months on end, to build your business.
Discover how a SMART WHY™ can change all of that to get you to jump out of bed in the morning and put an extra bounce in your step.
Secret #6: Comfort Stops Progress
People are creatures of comfort. We like that cushy recliner and doing things we like to do. We even stay in relationships that aren’t healthy. Why? Because it is too uncomfortable to change. Yet, if we don’t change, then–wait for it–NOTHING WILL CHANGE. Surprise, surprise! If you want to change, then you will have to get uncomfortable. Remember the first time you merged onto a busy, fast moving freeway when you were learning how to drive? Did you feel comfortable at that moment? How about now? Can you comfortably merge onto a highway? What changed? Simple. It was simply practice. You have done it countless times. Learn how to get comfortable being uncomfortable and discover your limiting beliefs that hold you back.
Secret #7: Transform Fear into Confidence
It is sad how much fear can block us from achieving the greatness we deserve. Fortunately, fear is mostly in our heads. We don’t have saber-tooth tigers waking us from our sleep in our caves anymore. Unfortunately, that old reptilian brain is still deep inside our head and pops its ugly head out at the worst times. Learn how to push past the most common fears that hold network marketers from achieving the greatness they deserve.
Secret #8: Practice “Icky-Free” Prospecting
If you have ever felt “icky” while prospecting to build your business, then you are not focusing on your prospects. Instead, you are trying to achieve a goal YOU have. Realize that if your focus is to help your prospect get what they want and not what you want, then you will never feel icky while prospecting again. Also, learn how to craft your “story” and how to use it to break the ice and connect better with your prospects.
Secret #9: Follow-up Can Be Easy
I’m sure you have heard “the fortune is in the follow-up”, but still struggle because it requires pushing past your comfort zone to make those calls, texts, or emails. Learn how you can leverage your mobile phone that you keep with you to connect, follow-up, and maintain connections with your prospects, team, and friends. There is a simple way to do this that costs less than a latte or two a month–and you won’t put on any pounds. That’s a Win-Win!
Secret #10: Understand How You Can Get Paid
As much as you want to share the products (i.e. give out samples), you’re in a business, not a charity. So, it makes sense that you should know how you will get paid if you want to maximize your profits. Yes? Understanding different compensation plans that various MLM companies offer and the various phases of MLM business growth will give you clarity of how far you want to aim in your MLM business.
Secret #11: Pick Your MLM Company Carefully
Although understanding how to get paid is important, other things about your chosen company are more important if you want long-term passive income. If there are any missing pieces, then you or your company won’t be successful in the long-term. Use my checklist to see if you’re on the right track.
Secret #12: What NOT to Do to Build Fast
I have seen many new and seasoned MLM distributors waste incredible amounts of their valuable time on activities that are entirely ineffective at building a team of network builders. Sure, they might get some sales, or feel good, but you are in business to make money effectively and efficiently. Some “NOT TOs” might surprise you at first glance (like “don’t buy business cards”), but after you read my reasons, you will see why it is essential to avoid these activities if you want to build your business quickly.
Bonus Secret: Building Your MLM During COVID
The pandemic has changed the way we build a traditional network marketing business. It’s pretty hard to have “product parties” when nobody can attend in person. There is nothing like being able to pass around products and hear the Ooooh’s and Ahhhh’s as participants experience them. Then there is the difficult situation of the 6′ rule when out and about prospecting for new peeps: “Here, catch this product and try it! Isn’t it amazing?” Yeah, right! I have always preferred belly-to-belly prospecting to build my network marketing business, but the truth is it isn’t very practical right now.
But in today’s world of COVID and social distancing, I have refined my perspective. Now, it is essential to have an internet presence if you want to grow your business. So, I have come up with a simple, duplicable way to create websites, emails, and email campaigns so you too, can be on the internet, like a pro! I hope some of my “secrets” have sparked some nerve fibers in your brain about network marketing business building. You will eventually master all the secrets as you climb the ranks in your company. But for now, just start checking them off your list of things you want to learn and implement. I love teaching how to build network marketing businesses and invite you to check out some of my upcoming blog posts and book Beyond the Products.
Thanks again and keep smiling,
Check out my blog post on Secret #1 now!