How to grow your Network Marketing Business!
7 things insiders know about how to grow your Network Marketing business that newbies don't know.
Try sharing these seven things with new people who want to know How to grow your Network Marketing business.
First, I list all seven. Then, below the image, I’ve expanded on each one, which will help you get more out of this post.
How to grow your Network Marketing business:
- Understand that neither mindset nor skills study alone will lead to Network Marketing success. It takes both.
- Figure out how much productive time you have to grow your business and be ruthless about your time.
- Study skills & mindset during times when you cannot be productive, such as when you are getting ready for work or driving, etc.
- Apply the skills you are studying right away, as gaining Network Marketing skills is at least partially experiential learning.
- Consistently find (or generate) at least one prospect a day on average so you can complete six presentations/week. At this pace, you will sign up 75 to 100 people annually (IF you do the work to improve your skills).
- Ensure that you share with your new people what they need to do to succeed (share this article).
- Before you do any online marketing of your business (other than posting on social media), read The Free Cheese Secret™.
Now let’s go through a breakdown of each of the 7 things on the list above:
How to vs. Mindset
I have spoken many times to people who believed in One or the other. Those who thought mindset was key would say “As long as you have the attitude, you can always learn how” and those who believe “how-to” is key say; “when you have the know-how, you will have reinforcing experiences that help you believe you can do it!”
There are boatloads of articles that are supported by a ton of research in regards to “how your beliefs can sabotage your behaviour“ and it is credible. There is no doubt that you can fail because of issues relating to mindset.
I have also met many uber-positive individuals that failed because their skills never matched their sunny dispositions. This is backed by research too, from why denying your negative feelings is bad to many other takes on this road to failure.
Here is an article on positive people and failure:
And here is an article on:
Clearly, there would not be as many articles about how to stay positive after a failure if it were not for the fact that lots of positive people fail.
It is clear that those with a tendency toward the negative can study how-to info as much as they want and still sabotage themselves somehow. And positivity will not overcome the need to either do trial and error to see what works or skip the time wasted on this and learn from those who are already successful.
2 & 3 Ruthless Time Management & When to study
You may only have 10 hours that you can use to build your business. Why would you use that limited time to study how-to or mindset information?
You can listen to positive mindset info and training when you cannot be productive. But make sure to use a headset so you do not drive your significant other crazy by repeatedly listening to Jim Rohn or Tony Robbins or Tom BIG AL Schreiter.
Here are other times when you cannot be a productive business builder but can still listen to training and mindset audios. While you are:
- doing your makeup or hair
- eating lunch
- cutting the grass
- working out
- riding the train (commuting)
You get the point.
Do not skip that 2 hours one evening that you set aside to build your side hustle, no matter how good our training posts are. Instead, use an APP like Voice Dream Reader to read blog posts to you while you drive to or from work. Or; read our posts during your work breaks.
4. Apply learned skills right away
Many people spend time reading and listening to skills training without applying what they are learning. Not good!
You are much better off studying and testing one skill than reading the whole book and not testing any of the scripts you are learning.
I would rather you test a single skill and reread the post or chapter on that skill. In other words, I would prefer you got one skill down at a time rather than reading the whole book on magic scripts.
Some people read the whole book and then go chapter by chapter, applying the skills in that chapter. And, since repetition works, this is not a bad way to learn.
The same is valid for learning marketing skills. Read about part of what you need to master and test it before you try to understand it all.
5. Consistently find or generate prospects
Find is talking to people you meet, asking for referrals from customers and contacting people you know. Generating prospects involves marketing skills.
In the last section (#7), I talk about advertising as well as providing a resource (my book), so we do not need to do that now. And I do want to add that no one should advertise before they learn communication skills, as you still need to talk to people.
The concept in this section is simple. You need one prospect a day on average, 6 days a week.
If you do two presentations one night, you could do 4 more nights of one presentation each. As long as you average 6 a week you will do very well.
This is where I get to tell you about Network Marketing News. For 9 years my company sold leads to people in Network Marketing and I handled about 35% of those calls.
I would ask everyone that called a question: “On average, how many presentations do you do a week?”
The answers were very revealing.
Of those I asked that had terrific attitudes and were very excited about Network Marketing, believing it to be the vehicle to a better life, the average was no more than 2.
Here is the math:
- if you sign up one in three people you do a presentation for, and;
- you need somewhere north of 200 sign-ups to find 5 people who go all the way and thereby reach the top of your comp plan, you need to;
- make 600 presentations.
It takes a serious person about a year to reach a “level of advancement” you need to qualify as one of your five and earn a top income. That means if you sign up 2 a week from 6 presentations, in 2 years you will have 200 sign-ups roughly. Then a year later all of your 5 will have advanced and you will qualify for ta top income.
Of course, you do not need to stop after 2 years, you can work for another year and once your 5 are all qualified, you might have found 2 more that will go all the way. The point is, that you need about 40 or 50 personal sign-ups to find one person who won’t be denied.
You also find plenty of part-timers who make you $300 to $500 a month. And 5 people who make you $5000 to $15000 a month.
That just seems to be the way it is. And that means you need skills to learn how to qualify people so that you can get your presentations in.
6. Set the Expectations of your new people
Share this training.
Make sure you tell them that you will provide the how-to training they need.
Show them what happened to you.
Ste their expectations right from the very beginning and make sure they know that you are going to lock arms with them while they make this journey of discovery and realize their dreams.
Setting expectations is my most favourite part of the business. It is dream weaving part of the process where people begin to believe it is real IF you have the how-to recruiting skills as well as mentoring skills.
Yes, that means you need to learn mentoring after you learn recruiting. But that is why we lock arms.
The job of mentoring is not yours in the beginning. Someone like me supplies that for you.
In fact, the presentations are not made by you in the beginning either.
What I am saying is who you are involved with matters. They need to be able to set your expectations right, proved the how-to information you need to study, do your presentations initially and mentor your new people.
You can always contact me if you need to know more about picking the right upline.
7. Advertising & Online Marketing
I have already mentioned that advertising and drip marketing systems should not be employed by people who do not have skills. This is a sure-fire way to spend money and not convert many people.
If you have those skills, and you want to advertise I will share with you what Tom Schreiter told me in 1997:
“How you make the big money is not the way you think!”
The truth is if you try to make money from recruiting people we have an issue. And that is that we may not make as much month one as it costs to advertise.
Now, if you have the money and can wait to get the payback in month three or four and you can continue to advertise for 4 months until you start getting a payback, you can take this road but there is a better way.
The better way is to ask yourself “who else sells to my prospects?“
One of my favs with this skill is my competition. After all, if I only convert 1 in 3 prospects, what happens to the other 2?
I need to share with you that I know that 70% of the people who do not buy from you still buy. Why then wouldn’t we sell our unconverted leads to our competitors?
In fact, if you sell the unconverted leads twice, and you had two leads to sell for every three you generated, you would sell a total of four leads for every three.
Using this plan, you could sell leads for 75% of what they cost to generate and break even before you recruit a single person!
If you want to know how to do this, download the first 12 sections of my book for free here:
That it is. That is the seven things I share on “How to grow your Network Marketing business” with one exception. I did not share the training that I share with my team.
Now I have another blog post to write to share with you!
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