Tag: network marketing
Training the New Network Marketing Distributor: Being a Good MLM Sponsor ñ Step 2 of 3
In Step 1, we talked about ìLaying Down a Track to Run On.î Here, in Step 2, weíll discuss ìBeing A Good Sponsor.î While many of the people you recruit into your organization may have had previous experience in network marketing, many will be first timers. Similarly, if youíve been successful in recruiting people who were involved in other network marketing organizations, you got them because they were disenchanted with their current company. In other words, they werenít as successful as they would have liked to be.
Wouldnít that indicate to you that they donít know the best way to do things? Well, thatís where you come in ñ helping them lay that track for others to run on. Again, when new distributors know what works, they can proceed with confidence, and confidence is the handmaiden of success. Remember, people are not duplicable, but systems are.
<b>Step 2 — Being a Good Sponsor</b>
Being a good sponsor means showing your new distributors ìThe Rules:î
Rule No. 1: Treat it Like a Business.
In order to be successful, your new distributors must truly want success, be coachable, and follow through on their commitments. In other words, they need to treat this business like a business.
Rule No. 2: Keep it simple.
If they can follow a simple procedure (see Part 1), they will use the same system with their contacts. If they can see that what you did was simple, they will believe they can do it, too. If you had to really work on them, more or less ìbullyingî them into the business, your new distributors will not want to duplicate what you did and will not take any action.
Rule No. 3: Determine Their Reasons.
If you know what your new distributor wants from this venture, that is, why they want to succeed, you can understand how to get them over the rough spots and keep them on the road to success. Remember, most people will be tempted to quit with the first setback because they were never clear on what they wanted to achieve in the first place. If their ìwhyî is strong enough, the ìhowî will be easier to get across.
Rule No. 4: Establish Objectives.
Set specific sponsoring and financial objectives for the first 30, 60, and 90 days. People always perform better when they have specific goals in mind.
Rule No. 5: Introduce Your Upline
Introduce new distributors to their upline, those leaders who are building a successful business and who are earning the type of income theyíd like to earn. That way, if youíre not available to help them, they will have names and telephone numbers of others (you should give them at least 3) who they can contact for support. Further, by meeting others who are earning the type of income they’d like to earn, the system becomes more realistic and attainable.
Rule No. 6: Whereís the Tools?
Make sure they know how to get the tools they will need to share the business with others., such as tapes/CDs, brochures, business cards, etc. Every business needs information to disseminate with prospects. This one is no exception. Remember, people are not duplicable, but systems are.
Rule No. 7: Make a Prospect List.
Although everyone who makes a list doesnít necessarily become a top earner, every top earner has a list. Typically, theyíll start with their Warm Market, because thatís the people they know.
At this point, your new distributor should be ready to go. They have their ìreason whyî clearly in mind, specific objectives for the next 90 days, their upline’s contact information for plenty of support, the tools to get started, and a list of people to contact.
Having said that, remember Rule No. 8: Let Them Move at Their Own Pace.
Sponsoring a distributor is a process, not a single event. If they don’t want to move as fast as you do, thatís OK. You canít change human nature. People will only do what they are willing to do. Encourage, yes, but donít try to force people into something they arenít willing to do.
Top Network Marketing Company -is it a serious business?
To truly know what network marketing really is you must know exactly was it isnít first. Actually there is nothing illegal or dishonest about network marketing and it is not a pyramid scheme. A pyramid is a program that has people invest large sums of money in the hope that others will too and the money will somehow get back to them and they will get rich. This is just a game played with money that has no real sales value. The products that are so-called being invested in are just the tools to hide the money game. A pyramid scheme is based on taking advantage of people and is very much illegal. For one person to actually make money in this scheme someone else has to lose it. The whole premise is built on a lie and in no way going to make one rich.
Network marketing on the other hand is very much legal and has great potential for those who work hard at it. There are real products or real value to be used to make money. The prices are not in the thousands either. Products are bought based on need and desire, not necessity. There are many people who make really good money in network marketing but it takes a lot of effort and work. One must build an entire organization from scratch based on the legitimate products offered. You will be encouraged to help others succeed so you too can win. It is a form of retailing where you either sell the products from your company to others or sponsor other people who will be using the products for their own use or selling them. In no way are you taking advantage of others in network marketing. Everyone can make money with enough effort. You will not make it rich over night no matter what anyone promises you. But you can live well with enough effort. You will need to follow a specific business dynamic to accomplish this.
Network marketing is a very serious business for highly determined people. The system has been proven and the design, creation, and expense that the corporate team has laid out are what you will follow like a road map to your own success. The big key in network marketing is that it is all about leverage. You work hard to get other people sponsored so you can make a percent off their work as well as your own. The most successful people who build a network do it in a very organized way. They dedicate themselves to it for a designated amount of hours per week to build it slowly over time. Then they sponsor others and train them on the companyís product and how to sponsor others. By helping your people get their own sponsors you in essence duplicating yourself. This can lead to getting hundreds and even thousands of people into your network over time. You use your time to train others to be successful and earn income from their efforts.
With network marketing you do not need huge capital requirements and no area restrictions geographically. There are no required quotas you have to sell or purchase or specific educational background needed. All you need to have is drive and time. There is no high cost overhead and you can even qualify for many tax breaks for having the home-based business
Training the New Network Marketing Distributor: Laying Down a Track To Run On ñ Step 1 of 3
Most people who get into a network marketing program want things to happen quickly. Initial presentations usually touch on the way money can be made, and the numbers often look staggering. What most of those initial presentations donít explain is how difficult it is to get started and to acquire the skills needed for success in network marketing.
For many new distributors, this is their first venture into network marketing. They are unsure about how to begin and often are tentative in their initial approaches. That can be the ìkiss of deathî for a presentation. After all, who wants to go into business with someone who is not sure about what they are doing?
To be successful in network marketing, new distributors need to learn from someone who is already successful. When new distributors know how to proceed, they can build their downline with confidence. Only one person in a hundred is a ìself-starter.î The other 99 will require that you invest time into their success, and show them how to begin.
There are three steps to building your downline:
1. Laying Down A Track to Run On
2. Being a Good MLM Sponsor
3. Working Depth With Your MLM Downline
Today, letís talk about the first step, i.e.
Step 1 — Laying Down A Track to Run On
Making sure your downline has a ìtrack to run onî means they must first learn about the company:
ï facts and information about the management team;
ï product features and benefits;
ï compensation plan and how you make money;
ï enrolling prospects and order processing;
ï who your upline is; and
ï developing their presentation portfolio.
In addition to the above, having a track to run on involves knowing how to:
ï develop effective communication skills, i.e. to speak with people in a way that reduces tension, neutralizes objections, and increases participation;
ï use tools (e.g. websites, CDs & DVDs, newspapers, brochures, etc.);
ï promote home meetings, regional gatherings and conventions;
ï share information with warm and cold market, leads, referrals;
ï edify upline leaders; and
ï conduct an effective 3 way call.
When you sign up a new distributor, immediately have them make a list of ten prospects. Then, you should send each of those prospects some company information and a short note stating that you are sending the information to them at the request of a mutual friend. If you have an informational website, include the URL in your letter. After the information has gone out, have your new distributors follow up with their prospects and set up a three-way call.
When you do this, you (1) get your new distributors to immediately begin building their organization, (2) get sponsor and distributor working together, and (3) your new distributors will know what to do when they sign up someone, i.e. exactly what you have done for them! This stimulates business and creates tremendous momentum in the downline.
Sounds simple, but many sponsors violate this strategy. If itís done right, and your new distributors see how easy your success is to duplicate, you will find that them running on that same track, teaching their downline how to get started. Youíll see business builders emerging, and thatís when your business will really take off.
Success Or Statistic?
Which one will you be in network marketing?
The truth is the odds are against you; chances are youíll be a statistic.
Hmmmmm bet the super star space commander upline guru that signed you up or wants to sign you up told you that did he/she?
Here are a few stats that may alarm you:
Did you know that 70,000 people sign up into a network marketing company EVERYDAY?
But did you know that 95% of the people that sign up into a network marketing company will quit within the first year?
Well there are a lot or reasons, poor support, poor company, poor product, poor compensation plan, poor upline. But to me one of the biggest reasons isÖ
PEOPLE HAVE BEEN LIED TO!!
Most people have been lied to from the get go.
Many of the people who are recruiting people into companies (hate that term recruiting) are lying to people and telling people what they want to hear so they will join their company.
Now on one had you canít blame many of these people, thereíre just doing what they were taught by the person that signed them up, and thatís usually some person with the recruit, recruit, recruit mentalityÖthose are the people I blame.
Hey the great news is you DONíT have to be a statistic. You just need to be taught the correct way of building your business, but first you need to know some of the lies youíll probably be told or already have been told.
My first and favorite lie:
Make a list of your friends and family because thatís who were calling first.
Hey upline line guy, are you crazy? Thatís the last thing, no thatís what you NEVER do. Because of this one lie there are thousands of people that have been shunned by their families.
Your friends and family members turn off the lights and pretend thereíre not home when the see you coming. Ring any bells?
By all means share your product or service with your family and friends but not the business opportunity. Many of your friends and family members are NOT looking for a business opportunity, the truth is most of your friends and family are going to spend more time discouraging you then helping you. But donít get mad at them they think thereíre protecting you, ignore them and build your business.
Let them come to you, once you become successful in your business, your friends and family will notice and then theyíll ask you what youíre doing.
Hereís a tip. This is your business and you DONíT want everyone in your business that includes your family and friends. Only share your business opportunity to people who have raised their hand to you and say. ìIím interestedî or ìShow me what youíre doingî.
Lie number two;
Recruit, Recruit, Recruit. You need to make a 100 phone calls a day and remember for every NO you get youíre one step close to a YES.
I would love to track down the putz that said this. Let me ask you a question.
How many times do you like hearing the word NO?
How much do you like being on the phone every day hearing the word NO?
I think itís safe to say, ìYou donít like it very muchî
The word NO has taken so many good people out of this business. Here is an example my mentor shared with me and it really hit home for me.
Duffy youíve set up candles, soft music some good wine a great dinner a bit of hugging and kissing then your spouse says ìNOî. All right just 99 more times and youíll get lucky.
That put things into perspective for me real fast.
Did you know that 90% of the population is sales resistant, no wonder youíre hearing the word NO so much.
And some knucklehead sayís NO is a good thing. Moving on.
Lie number 3,
If you have no warm market you need to spend money and buy leads.
WRONG!! You DO NOT have to buy leads. Personally youíre just wasting your money. Thereíre people spending hundreds of dollars every month for leads. STOP IT!!!
Remember a bought lead is a bought lead. I donít care if you paid $5 or 5 cents a lead is a lead. When you call these leads chances are they donít remember what forum they filled out or the person gets upset because you called them.
Once you truly understand that people are not numbers, they have goals and dreams just like you. And theyíre real people. And just like you they donít want to be lied too and just like you they want a true opportunity to fulfill those dreams and goals. If you get just this youíll go very, very far in this business.
Network marketing is a Relationship Business NOT a Sales Business. As soon as you understand that youíll have people saying to you ìPLEASE sponsor me into your businessî
Until then youíre DEAD in the water.
I have NEVER bought a lead with my network marketing company and I donít spend 10 hours a day making phone calls, I have people contacting me everyday asking me about my business.
If you had people calling you how do you think your lead calls would turn out compared to you calling people? Please tell me I donít have to answer that for you.
For those of you buying leads stop wasting your money, prospects are everywhere.
I have tons of ways of getting leads for free, but hereís one tip that will reveal prospects to you everyday.
First LISTEN to people, thatís the most important thing you need to do. Youíve heard this ìOne mouth two earsî Listen twice as much as you speak.
Ok how do you determine if someone is a prospect?
Letís say you have a company that provides a nutritional product that helps with weight loss. And now lets say youíre talking to someone and they are complaining about how they canít lose weight.
All you have to say to this person is this: ìHave you ever thought about doing something about itî?
If they say ìYESî you have a prospect, depending on the time and place this person has just given you permission to provide them with a presentation of your product. You could give them your business card, send them to a web site or provide them some brochures about your product. Or ask them for there contact info so you could send them some info later.
If the person says ìNOîÖyou say, ìOKî.
THEY ARE NOT A PROSPECT, REPEAT NOT A PROSPECTÖ forget about them, move on and keep listening.
This is just one-way thereíre lots of other ways to find prospects. The point is you never have to buy leads to find prospects.
Itís a shame that so many lies are being told just to get people into a business, just because the rest of the world is doing it doesnít mean you have to. Tell people the truth, listen to them and truly hear what they are saying. Build relationships; help a person, thatís how you build a business.
If you can help them GREAT if not thatís ok too. Not everyone is suited to fit into your business; and you would be a fool to think so.
Personally I would rather have 10 people that wanted to be in my business and that I told the truth to from the get go, then a 100 people I told what ever they wanted to hear so they would join my business.
Until Next Time
To Your MLM Success
The "Networking" Part of Network Marketing
Networking is obviously an essential part of network marketing. Every successful network marketer knows this to be true. Although networking is such an intricate part of network marketing, the two terms are not synonymous. However there are many similarities. Both rely heavily on people skills. Both require people to confront their fear of talking to other people. Both carry with them the risk of rejection. Both also carry with them enormous opportunity. And to some people, both are considered dirty words.
Of course people that consider networking as something that is ‘not done’ don’t understand what networking is really about. The same can be said of people that think network marketing is something that is beneath them. Many people think of networking as a way to get connected solely for their own advancement in life. In that respect a person might feel that it is unethical or not noble to network. This line of thinking stems from the idea that advancement will always come at the expense of someone else, that success in life is a zero-sum game. These people often look at network marketing from the same perspective. They think of profiting from other people’s efforts as something that is negative and not fair to them. In reality, successful networkers will tell you that it doesn’t work that way at all. Networking doesn’t have to be at anybody’s expense and the business of network marketing doesn’t reward anyone for taking advantage of others. It actually rewards people for helping other people to succeed. In that respect it may very well be the most ethical business model in the world today.
A lot of the negativity around networking can be explained by the different types of networkers. Some can be considered ‘hunters’, moving in for a quick kill, after which they move out again. They often operate without regard of the other persons interest and because of this they will enjoy the fruits of success for only a limited period of time. Often it will not take long before people find out what’s really driving the hunter. Once they see that he or she is only looking after his or her own interests, their willingness to interact with this person will quickly evaporate. By contrast, truly successful networkers are often ‘farmers’ who spend a lot of time sowing and nourishing their relationships, instead of just focusing on reaping. They invest in their network, they energize their network. They use their network, but they never ever abuse their network! And their network knows this. A true networker will always keep the interests of others in mind. That’s why working with a true networker is so enjoyable. Networkers are often very likeable and as such people like to interact with them.
Networking is a skill that is essential to all businesses not just network marketing. Although network marketing differs in many ways from the more traditional forms of doing business, the importance of networking is just as prevalent. If not more so. A network marketer that doesn’t know how to network will be out of business in no time. Network marketing is first and foremost a people’s business and this implies that the ability to effectively work with people is absolutely critical. This is why successful network marketers are extremely adept at networking. Many have found out over time that developing this skill can pay off in many areas outside their network marketing business as well. Business owners who have started a home based business on the side often apply their enhanced networking and people’s skills in their traditional business with great success. For some network marketers this spin-off has earned them more money than the income from their network marketing business itself.
So whether you are in network marketing or in a more traditional type of business, don’t underestimate the importance of becoming an effective networker. And if you really want to master this skill you may find there is a lot to learn from good network marketers. So if you happen to know anybody that fits that description, try and benefit from their knowledge on the topic. It will surely help you network your way to success!
Strategies For Successful Business Networking
There are a variety of organizations that run networking groups across the country. The largest group is probably BNI, which offers members the chance to attend weekly meetings and develop new professional relationships to help them grow their business. some chambers of commerce are now organizing “leads groups” for their members as well. These groups are intended to offer members a way to connect with each other and potentially refer each other business.
In most “leads groups” each group allows no more then one representative from any industry, so if the group has a mortgage broker other mortgage brokers have to join another group or wait for the seat to open up. The idea is that by restricting membership, you eliminate competition within the group.
The agenda at most structured networking meetings is pretty straightforward. Each member is given an opportunity to introduce themselves, then there is a short presentation by one or two members (each member gets the chance eventually). The meeting ends with members discussing potential referrals for each other. This means that most of the members get about one minute to present who they are and teach the other members of the group how to refer to them.
Most people do a great job of presenting themselves. However, most people do not think to ask for referrals. At most networking events, you are not expected to ask for a referral or explain what a good referral for you is. However, at a leads group it is not only acceptable, it is expected!
I am involved in a number of networking groups and have used the simple outline below to create my elevator pitch (quick introduction). When I deliver my elevator pitch to a leads group, my goal is to educate everyone in the room about my company and what I do, as well as to teach them the best way to refer others to me. In addition, I want to make sure I actually ask for a specific referral. I will go through each piece of the outline in detail, but here are the basics.
o Position + company name
o Location of the company
o Overview of services
* Tell a story
* Call to action
The introduction piece of your presentation should stay the same every time you give it. You might say something like, “My name is Joe Smith. I am mortgage broker at ABC mortgages in Anytown, USA. We offer a full line of residential and commercial mortgage products.” You can add some additional detail, but you should really focus on keeping this short and on point.
At each meeting, you will have the chance to differentiate yourself from the competition by telling a short story during your presentation. The story can be related to a specific challenge you helped a client overcome, a unique feature of your product or service, or you can simply talk about a new development at your company. Consider writing out your stories in advance so you know what you are going to say at each meeting. In addition, you can schedule the content so that the other members of your group learn more and more about you at each meeting. You need to focus on educating your group a little more each week.
The “call to action” is very important and the piece that most people overlook. You need to tell the other members of your group exactly what type of referral you are looking for. For example, our mortgage broker, Joe Smith, might say, “Today a good referral for me would be a Realtor at XYZ real estate company.” Joe may also say, “Today a good referral for me would be anyone who purchased their home more then 10 years ago.”
I alway recommend that your “call to action” is as specific as possible. If Joe stands up and says that a good referral would be anyone who needs a mortgage, the rest of the group will have a harder time thinking of people to refer. If Joe asks for an introduction to a specific person at a specific company, someone in the group may know that person or know someone at that company who can facilitate Joe’s introduction. The more specific the request, the more likely it is to trigger someone else in the group’s memory.
A last minute hint:
Keep focused on the networks of the people in the group, not on the people themselves. In other words, when you are participating in a networking or leads group, you should not focus on gaining the business of the people at the table. Instead, you should focus on gaining their trust so that they will refer you people in their network.
So you want to be a millionaire?
I come across so many people that say “I’m going to make a million dollars in network marketing”. I have conversations with people telling me how they’re going to become millionaires.
That’s great I’ll help you reach that goal every way I can.
But you know what?
Not everyone is going to make a million dollars in network marketing… and that’s ok.
Most people’s lives would change with an extra $500 or $1000 a month.
If you’re in network marketing the opportunity is here to become a millionaire.
let’s talk about that for a second.
To become a millionaire in network marketing is going to take lot of WORK.
Yes, you can do it in the shortest amount of time compared to other business opportunities but you still have to WORK…
But you work smart not hard.
And the cost for start up is minimal.
But it still takes WORK!! no matter how you cut it.
To become a millionaire in network marketing you’re going to have to do things differently.
What do I mean? One of my mentors Michael Dlouhy told me this.
“Duffy if you want more, you’re going have to become more”.
That made a lot of sense to me.
So what if you’re not going to make a million dollars a year in network marketing?
Look I’m not saying you’re not going to make a million dollars, but let’s say it’s not in the cards or that’s an amount you can’t relate to. (Lots of people can’t relate to earning that kind of money)
How much do you make now?
I’ll go with the average and say $30,000. Everything is ok, sometimes it’s a struggle but you get by, but things could be better.
Imagine doubling your income. Can you imagine earning $60,000 per year?
Sure you can.
So if you didn’t make a million dollars a year but you’re making $60,000 in network marketing would you consider yourself a failure?
But let’s say your better at this then you thought and you’re earning $100,000 to $150,000 per year.
Would you consider yourself a failure?
Do you think you could have a pretty good life earning that amount each year?
Man if you’re earning that kind of money from network marketing. You’re winning trips, vacations, getting deals on conventions or even winning trips to your companies conventions, your winning shopping trips, bonus money, car programs, free product or services.
The things many people have to spend money on such as trips, vacations, products, services and cars. You’re could be getting them from your company for a lot less or even free, because of your ranking in your company.
The life you may want may be a lot closer then you think.
Tell me, if you made $100,000 to $150,000 per year in network marketing you’d be a very happy camper, yes?
Tell me you wouldn’t, I dare ya.
I believe in you!!
Until Next Time
To Your MLM Success
Network Marketing Home Business
Many people that think operating a business from home is glamorous, exciting, and filled with freedoms that you can never experience if you work for someone else. Without the obligations that come from reporting to an employer everyday and they then think the money is easily acquired. This article will look at both the positives and negatives of owning a home-based business.
An important part of working from home is letting others know you have a business and this is done through networking. Network marketing is not always easy for everyone. There are individuals who are very natural at talking with others and find it quite easy to be in a room full of strangers and talk about what they have to offer. Then there are those terrified of the idea of network marketing and would prefer to stay home and pay someone else to do this portion of the business for them. Network marketing does not have to be a horrible experience for you and you do not have to have a panic attack at the thought of attending one. When you prepare for network marketing and do not go in with your eyes closed, you will find that it will make an enormous difference in the productivity of your business. Network marketing can be beneficial in building a plethora of resources and contacts that you can have at your fingertips to propel your business forward.
Decide in advance how many people you want to talk to and do just that. If it is your first time, you may only want to talk to three people. Although once you are there, you will probably find yourself relaxing and notice that you came home with more than three contacts. Do not forget the business cards of the people you meet. In the excitement, you may forget their names. It is a good idea to jot down some relevant information on the back of the card to help you remember why or why not you like that particular contact.
In order for your home business to be successful, you have to make your presence known. You can do this through advertising and word-of-mouth. However, staying inside your protective home and never letting anyone know whom you are will not generate many clients or bring an increase in your profits. Go out, have coffee, and talk to others about your services. Walk into businesses that you think will profit from your services and let them know what you have to offer. If you have children in school, you can offer your services to the PTA or other groups that your child may be involved. Do not discount your sphere of influences because it is from this circle that your business will grow.
More info’s and free registrations (restricted to pros), please join our live seminar
Network Marketing – Why is it so great?
If you’ve ever heard of Network Marketing, you’ve probably heard it said that it is essentially a people’s business. Some have also labeled it a people’s franchise because of the similarities between the business models of network marketing and franchising. Advocates of the industry name it as the ultimate people’s business and say there is nothing quite like it. People that are in network marketing will immediately respond positively to this.
One of the unique characteristics of the network marketing type of business is that every individual distributor is in business for themselves but never by themselves. They will always be part of a larger organization and the compensation models are designed in such a way that every person can count on some form of support from their upline.
It is no secret that fortunes can be made in this type of business and many have done just that. Of course this is not the majority of network marketers, but every individual distributor does have the same chances. Success or failure in network marketing is not dictated by politics, race, age, background or gender, but always by results. In that respect it is probably also the fairest business model in the world.
For many people however the true value of their home based business is not directly in the financial return. The lessons a person can learn while building his or her own network marketing business are truly priceless. Many people are totally transformed through the personal growth they experience as a direct result of their challenges in their MLM businesses. It forced them to get out of their comfort zones, grow, and in many cases become a better person.
So what is so unique about network marketing in this respect? Doesn’t every entrepreneur have to deal with challenges? The answer of course is: Yes, they do. And they also experience personal growth as a result from this. However there is a significant difference. Most entrepreneurs are self made and many of them learned their trade largely outside of formal education. Either they were taught by a family member, a mentor or perhaps they learned everything the hard way: by trial and error. Very rarely will you find an entrepreneur that has an extensive library of books and tapes on personal development. Most businesspeople don’t attend seminars and motivational trainings. They think it’s all a bunch of hype. While in some cases this can be true, there are many trainings and seminars that teach the principles of success better than any textbook found in business schools.
One of the great things about network marketing is that this type of education is built into the training systems of all good companies. There is no business on the face of the earth that places such a strong and direct emphasis on the importance of personal development as the network marketing industry. Many companies might argue that they spend a great deal of their budget on education; training employees and as such assisting them in personal development but in most cases what they are actually talking about is personnel development. Although the words are almost identical, their meanings are vastly different.
Network marketing is all about building people. It is probably the best school on the planet if you want to learn about what it takes to be successful in life and you don’t need rich parents or some kind of scholarship to enroll.
More info’s and free registrations (restricted to pros), please join our live seminar