Robert T Kiyosaki once wrote "If I had to do it all over again, rather than build an old style type of business, I would have started building a network marketing business". I have been in MLM now for over 30 years and presently earn a six figure income. There have been some failures however why have I achieved Network Marketing success?
It is a fact that more than 95% of people who start in MLM will fail. If you want to succeed you need to learn from someone who has been there, done that! Here are some keys to network marketing success.
Most people , just like you, that start in a MLM business are untrained, and they are then told to go and train more untrained people. When that happens, you end up with a lot of untrained individuals. It's the blind leading the blind. Stop there! You need expert training to obtain network marketing success.
You were probably exposed to the network marketing business through a friend or relative. While this may be good in the long term, you need to look at the business objectively and closely before committing to join the program. Would you have joined this opportunity if this wasn't your friend who presented it to you?
How long has this company been in business? Where are they located, have they invested heavily in this business to show that they are in this for the long haul? Or could they just close the doors next month and not be heard of again (many have done this in the past, leaving their distributors high and dry, in a sinking boat without a paddle)? Who are the company leaders, what experience have they had? ALL this can be found doing the usual internet search.
Your success in MLM will be determined by the products or services your business offers. It needs to be exclusive and unique. If it is available from Wal-Mart or the local hardware store, your customers will compare and probably buy elsewhere. Many network marketing companies sell everyday items at sometimes inflated prices to cover distributor commissions. Would you buy and consume these products if this was the case? Does the product offer masses of benefits to your customer that cannot be found elsewhere?
The upline member or sponsor that will be your leader could be a tremendous asset or the biggest liability to you if you want network marketing success. While having a sponsor who doesn't help you won't mean you won't succeed, but one that guides you through the maze will give you the boost you need. If you do sign up with someone that doesn't assist, look further upline for the right person to help you. They will benefit by your efforts. Don't let your sponsor be a burden.
Your future training is very important. The company needs to have on-going training that you can easily plug into to achieve information. Network marketing is all about duplication. Successful network marketers need to follow a system, a plan, for showing their enrollees how the business works. These should include teleconferences, Company updates, webinars, training videos and weekly or monthly business building meetings. This is where other successful marketers tell their story of how they are climbing the ladder. They can enthuse members with their success.
Your commitment. Firstly, you are not going to earn thousands of dollars in your first week, and anyone who is a network marketing success, will verify this statement. It takes time and commitment. It will take some months before you see the fruits of your labour but once it starts to flow, you will see the benefits of a network marketing business. This business should not be look upon as a hobby, it can be part time to start with, but it should be treated as a business. There will be expenses that will occur and dependant on your financial situation, these may need to be curtailed. The more you put into your business, the more you will reap.
Your goals need to be set and written down. So you have found the company, the product, a great upline leader that supports you, great training materials and you have committed to financial independence, you now need to set realistic goals. These need to be achievable in the short term and long term. This should include a realistic number of new enrollees to build your team and business. Check your achievements and reset your goals if necessary on a monthly basis.
All these keys will ensure your network marketing success.