Tuesday, October 4th, 2011 at 11:03 am
I was at my mentors house for a dinner the other day and a great subject that I have been writing about cam up. That of being a network marketing pro. These are some of the points that he made.
- Learn the basics and practice them over and over- in order to be a professional you should learn the basics of network marketing. Use your products, sell your products and teach others how to do the same. Don’t complicate things too much.
- Take what your mentor teaches you to the next level- if your mentor teaches you a script that works or a way of showing your particular business plan that works. Learn it. Learn it backwards and forwards. Learn it better than they know it. Practice it over and over.
- Be the Leader- Leaders are the ones that do what they have to do when they have to do it. Leaders are the ones that make the money in this industry. So you need to be ahead of he pack and bring people with you. You need to succeed so that others can succeed.
- Practice, practice, practice- You need to continually practice your profession. The trick is to even practice your fumbles. When you show a prospect your business you are also showing them what they believe they need to do. If you are too perfect most will be intimidated and not even get started. You need to make them feel that if you can do it they can do it with no problem.
These are the four things I learned from the dinner with my mentor. I know that as you read and implement them in your business it will help you too.
Friday, September 23rd, 2011 at 11:09 am
A very legitimate question but one that you won’t be able to get a straight answer to. Why? Because it is a business. It is your own business. The success of any independent distributor will depend upon the amount of hard work, talent, and dedication which you devote to building your business.
More than 90% of the people that register their business with a network marketing company go on to do nothing. They mere action of registering their business is sufficient for them to feel that they done something to build their financial future. I heard Anthony Robbins one day say that only about 10% of people that buy a self help book actually read past the first chapter. I suspect this is the same phenomenon in network marketing. Registering their business is like reading the first chapter of a self help book. So there is no simple answer. As you read the rest of the article I will help you figure out how you can find out for the company that you are interested in.
It is somewhat unfair to lump all the typical distributors with those that are pros at their business. Most companies never separate the two so they give you typical numbers that are not very useful. A better system for the average company would be to set requirements that need to be meet in order to show that you are actually building your business. These requirements would have to be income independent activities that show that you are actually working. If you measure the average distributor in the mlm industry by how much they work you it would be like trying to see how many widgets a factory worker can make by not coming to work.
Another issue when looking at overall industry averages is that the average netwroker works their business on a part time basis. It is a business that is done on their off hours.We also can’t overlook that it is based on the opportunity itself. How is the opportunity set up? How does the compensation plan work? Can anyone start making income immediately? Do they pay for registrations or just for volume produced?
Unfortunately I can not give you a clear answer. What I do know is that in every company there are people that make money. I was blessed when I took a look at the company that I work with, they have a program where they separate the people that are actively building the business from those that are just registered. The average weighted annual earnings of those that do the requirements to show that they are actively building the business was 53,000 dollars per year when I was initially introduced to the company. Ranging from approximately 31,000 at the low end to 231,000+ at the high end. Again this only accounted for approximately 10% of all distributors. Because only about 10% of distributor actually bothered being professionals.
If you do not have access to this information I suggest that you do a little research of your own . Ask current distributor that are earning what you would like to earn these few questions.
- In your opinion what are the income producing activities for me to make money in this company?
- On average how many distributors have you sponsored personally into the company?
- On average how many people have you been personally involved in sponsoring?
- On average how many hours did you actively put in into the company when you got serious about building?
- Approximately how much money you are making and how long it took you to make that money?
With the answers to these questions in hand now you can go to the average distributor in the company and ask them these questions.
- How many hours do you spend doing income producing activities?- It does not matter how much time they spend doing the business. I know people that attend every meeting and business presentation they can but unless you have guest and new distributors that you are introducing to the business you are not doing income producing activities.
- How consistent are you at these income producing activities?- Consistency is key. If they have been an independent distributor for 5 years but have the tendency of working hard for one month and stopping for two they are not doing the business. I know I have personal experience at this.
- Approximately how much money are you making?
If you can ask these questions you will have a better picture of how the particular company that you are looking at works. And I suspect that you will find out that it depends on if you are a hobbyist or a pro. You will also realize that the success of any independent distributor will depend upon the amount of hard work, talent, and dedication which they devote to building their business. So now when some one asks you How much money do you make? You can answer with- That is a typical beginners question. The simplest answer is that the success of your business is dependent upon the amount of hard work, talent, and dedication which you devote to building your business