Your Network Marketing Business is a Business Requiring Your Attention
Your network marketing business is a business. Treat it daily like a real business requiring your attention. Treating it like a hobby trying it out to see if it makes you money is the culprit of failure. Hobbyist quit because they are never committed.
The best network marketing opportunity is the one where you put yourself in it wholeheartedly. Your network marketing business will set you up for life if your expectations are aligned with your actions. Choosing otherwise leads to failure.
Your network marketing business opportunity must be treated as if you invested one million dollars of your hard-earned money to start it.
How to Treat Your Network Marketing Business Like a Business
Most network marketers know little about how to be successful in network marketing. Investing $1000.00 into a network marketing business does not incentivize them to succeed like it is investing $1,000,000.00. Little skin is in the game for most network marketers. Nickels and dimes invested create nickel and dime returns.
Building your network marketing business and treating it like your million-dollar baby requires seven network marketing activities.
- Commit, set goals and never quit.
- Keep set business hours.
- Track your network marketing business expenses.
- Invest in your education.
- Learn from your mistakes.
- Treat your customers with love and respect.
- Maintain a Steller reputation.
(1). Commit, Set Goals and Never Quit
Success in network marketing is treating it like a business requiring commitment and never quitting.
Commit to your network marketing business by attending network marketing events consistently.
Set 90-day goals and objectives. When goals and objectives are met, set another 90-days of goals.. How many people to sponsor. How many were sponsored. How big your organization and what it will take to grow and meet your goal. Have something to shoot for.
Commit to finding new customers and prospects. Speak to five prospects a day. Learn the skill of breaking the ice and opening a conversation with your cold market and warm market.
Have a budget. Advertising, buying leads, websites, funnels, blogs if you have one, video marketing, and other costs must be considered.
Rule Number One: Don’t Ever Quit. You may struggle but never quit. Never give up and stay the course over five years dedicated to building the business.
(2). Keep Set Business Hours
Your network marketing business requires hours dedicated to making the business work. Making the kind of money you wish to make is equal to setting your schedule around business hours and holidays reflective of your niche market.
I’m in a health and wellness network marketing company. My company is in 13 countries. I set my hours and schedule to reflect the various time differences. No, I don’t stay awake 24/7. I do schedule my time around speaking to people in Peru one day and the USA another.
Spread out the schedule and days on a calendar.
My hours start early at 5:00 a.m. I spend an hour mentally preparing myself for the day usually reading something about network marketing and more important the Bible.
Six o’clock starts the day running dedicated to making calls, doing presentations, speaking to at least 5 people in my local town or to strangers in my cold market list. Noon is when I cut things off and spend time with family until 2:00 p.m. Then it is training with my team until 4:00 p.m. My day is done. My time is my own.
The beauty of owning your own business is I can shut down the schedule for 2 months and come back picking up where I left off and running with it without loss of income or status.
Set hours and follow them daily making them habits of your network marketing business.
(3). Track Your Network Marketing Business Expenses
This is bar none one of the major network marketing success tips which to give credence and follow.
Tracking your expenses keeps cash flow going out exceeding cash flow coming in. Debt from credit cards, and cash withdrawals is a painful thing for network marketers when there is no money coming in.
Use a cash flow monitoring worksheet to monitor your spending each day. Microsoft Excel or Google Sheets make great worksheets for tracking expenses and assets.
As money goes out each day, complete the worksheet each day. As money comes in, log it on the worksheet. Core operations, investments, education expenses, event trips, product and services, your autoship, assets, network marketing income and debt are tracked on the worksheet.
(4). Invest in Your Education
All home business opportunities require investment by its owners in education making it operational and profitable. McDonalds, IBM, Google, Apple and Facebook all have training required for employees.
Investment in education for the serious minded of network marketers costs for less than investments in education of other companies. Average cost is $2,500 a year. Many cost several thousand dollars ranging from $12,000.00 up to $150,000.00. I don’t recommend starting off with this level of training and education for new distributors.
MyLeadSystemPro offers the best training available at the best price if you are serious about assuring the success of your network marketing business. Only $149.00 a month and you get everything from funnels, intense training daily and weekly by the top earners in the field of network marketing, to lead generation, blogging, video marketing, e-book training, and affiliate programs helping you with earning extra income while waiting for your primary business to succeed. Only serious network marketers need apply.
Books on Amazon in network marketing and webinars from your company cost anywhere from zero to $25.00. Start with your company training. Usually the cost is free. Follow your upline suggestions of training material, books, webinars and websites.
(5). Learn from Your Mistakes
Pay attention to mistakes and learn from them. The learning curve in everything network marketing offers is steep.
Concentrate on one thing. Learn it well. Mistakes will be made. Acknowledge them and get better. Then chose another thing to learn and learn it well. Learning never stops.
Concentrate on your warm market list. Don’t make the mistake of setting the goal of sponsoring them all. Everyone on your list may need network marketing. Not everyone qualifies.
Don’t make the mistake of offering the opportunity when leading with the product is better. Don’t make the mistake of leading with the opportunity when leading with the product is more fitting. Learn differentiation.
Learn the art of the sale. Every network marketer is a salesperson. Learn how to distribute products to customers and distributors. Don’t make the mistake of being pushy or salesy with your presentation. Several articles on this blog can help you with the art of selling.
Don’t make the mistake of approaching every prospect with a cookie-cutter method of prospecting. Learn the four-color personalities in your approach. Learn how to break the ice and close prospects.
(6). Treat Your Customers with Love and Respect
Customer and team member judgments matter about you and how you do network marketing. Judge them harshly and their slings and arrows will be your judge.
The number one rule for treating distributors and customer is the golden rule of network marketing. Treat your customers and distributors as you want to be treated. Treat them as adults and without condescending and talking down to them. Keep all appointments. Fulfill all promises.
Your network marketing business success rests upon how you treat customers and distributors.
Engage customers and distributors with training. Train your customers and distributors speaking to them in adult terms and not as children. Respect them when they have problems and don’t grasp the material and “your brilliance” and help them with getting passed it. Spending time with training them the right way is an investment worth thousands in your pocket.
(7). Maintain a Steller Reputation
Ever seen a network marketer bombard prospects with MLM offers on Facebook and other social media sites? Some network marketers go online and find people’s resumes spamming their email accounts. Shoving flyers in the mailbox of one’s neighbors is offensive.
Decades of aggressive belligerent tactics and strategies by network marketers have put a black mark on us all.
Be different. Act differently than all others making you stand out a cut above the rest. Give away value without charge to everyone you meet. Solve problems. Gain back trust by offer solutions solving prospect’s problems.
Want an example of giving away value without asking anything in return? Look no further than this blog. I offer tips, strategies, techniques and methods of solving problems and offering real solutions of people in the network marketing industry. I look at a problem and break it down to its simplest parts looking at it from different angles and offering solutions rarely seen. I give away value in all that I do. The results? More leads. More sales. More distributors. A larger bank account.
Follow the ethical guidelines of your company. Don’t know what they are? Ask your upline. Go to your company’s website and find them. Learn them and obey them.
Don’t steal your distributor’s customers and prospects. Always give credit where credit is due.
Pay your taxes without fail and on time.
Never borrow products from your distributors or customers without paying. Never borrow money. Always pay your way. Rid yourself of all debt as fast possible. Owe nothing and be of value to all.
Your network marketing business is a business. Give it the attention it deserves. Treat it like a business. Treat it like a $1,000,000.00 and it will treat you with riches and true lasting wealth. Commit, set goals and learn from mistakes. Treat customers with respect and maintain a Steller reputation at all cost. Keep up with the paperwork. Make your business the shining example on the hill.