Network Marketing isn’t a complicated business. To crush it in Network Marketing requires leading a large group of people to repeatedly do a few simple tasks over time. Do that and success is virtually guaranteed.
To put you on that path, here are 10 steps you must take and that you’ll want to teach your team to take to lead you to job-dropping income.
Commit to the long haul.
Building a sales team doesn’t happen overnight. If you think you’re going to replace your job in 90 days and you’ve never built a team before, you’re likely to be disappointed.
Because of this, you should commit to being here a year from now. You’ll give yourself at least a year to learn what you need to learn. To do what you need to do to build your team.
Know your “Why”
Because success doesn’t happen overnight, you will have frustrating days. People will disappoint you. Leaders will quit.
One thing that will help you keep your commitment to the long haul is to remember why you’re doing this.
Are you trying to make sure you have a retirement so you don’t have to work until you die?
Pay for kids’ college without going into debt?
Replace your job so you can live your life without asking permission?
Fund a mission?
Build a hospital wing?
Being able to remind yourself of what you are trying to accomplish will keep you in the game during the tough days.
Treat it like a job
You’ll hear a lot of people say that if you treat your Network Marketing business like a business it will pay you like a business. This is true.
But most people have never run a business so they don’t have a frame of reference for that.
Most of us can, however, relate to a job. We show up at a specified time, we do the tasks that are necessary and we learn new things so we can take on other tasks and earn more money.
That’s how to build your Network Marketing business. Which leads us to…
Have a written, time-blocked schedule
A business and a job both have consistent, predictable hours. You’ll want to have a set schedule that you work your business. Block out the hours you’ll work your business and keep those as sacred as you do your going-to-work hours.
Within that schedule, block out chunks of time for each activity that needs completed so that everything gets done.
Have a written DMO
A written Daily Method of Operation (DMO) will keep you focused on the tasks that need to be accomplished each day.
The core of a Network Marketing business consists of four things:
- 1. Find people to talk to.
- 2. Talk to the people we find.
- 3. Sponsor the volunteers as customers or partners.
- 4. Teach our partners how to do 1-3.
Your DMO will need to contain time for each of these functions. Depending on how many hours you are working each week in your business, you may not do each function every day, but you need to make sure that you are getting all four done each week.
Work a minimum of 10 hours per week
If you are going to accomplish anything of substance, you need to put in the time. Network Marketing is no different.
What makes this business special is that, as you grow a team, you will gain benefit from the time each of those people work as well as your own. When you have 100 people on your team, each developing customers and partners for 10 hours each week, you will benefit from 1000 hours of work each week. That is the power of leverage.
To accomplish that, you need to put in the work necessary to build, train and lead that team. And that starts with at least 10 hours of dedicated work to the tasks hat each of us must accomplish each and every week.
Have 3 to 5 lead sources
Success in Network Marketing is based on exposures; how many people are you exposing to information about your business and/or products every day.
This means you must have a consistent source of new people to talk to every day.
In order to do that, you should have at least 3 to 5 methods for finding people to talk to. Some will work better than others on different days. By having multiple sources, you will never run dry.
Be your own best customer
Use as many of your company’s products as you can. Never use a product that directly competes with a product you sell. The more of your products you use, the more stories you will have about how well they work and what they can do for people.
The more stories you have, the more ways you will have to find solutions for prospects.
Finding solutions to problems is what gets us paid.
Sponsor, don’t recruit
A lot of people use those two words interchangeably. I disagree.
When you recruit someone, you sign them up.
When you sponsor someone, you assume responsibility for their success.
From Merriam Webster: Sponsor noun 2. one who assumes responsibility for some other person or thing.
Sponsoring a person into your business is a sacred trust. You become responsible to teach your new person what they need to know in order to succeed. You help them take their first steps and support them as they learn this new business.
You also help their new people in the same way.
This builds leaders and it builds relationships that won’t break over the next shiny object. Your people will stick when the going gets tough because they have you long side to help them through it.
People that talk about recruiting 20 or 30 people per month are just throwing people up against a wall and seeing who sticks.
That’s absolute crap.
People come to our business with hopes and dreams.
It is your duty and your joy as their sponsor to help them reach those dreams.
Understand the magic of consistency and compounding
Most of us have heard the story of what happens when you take a penny and double it every day. In case you haven’t here’s a chart:
A penny, doubled every day, turns into $5.4 million dollars after 30 days.
That is the magic of compounding.
That is how consistent effort over time will affect your group, too.
One person becomes two, which becomes four, which becomes eight and on it goes.
What happens if you only double the penny every other day?
It’s only worth $163.84.
So not only is compounding needed to build your team, consistent effort is required so growth happens consistently.
Time plus consistent effort equals a large, successful business that will give you whatever dreams you desire.
There you have it. The 10 Steps to Success in Network Marketing. Adopt these into your business, apply them consistently and watch your business grow.
A Network Marketing business can give you a life where you don’t have to ask permission. I’m rooting for you.