The majority of people who fail at MLM and network marketing are doomed the moment they sign up to become a new distributor regardless of the company, product or service being offered by what appears to be the perfect MLM or network marketing opportunity. People won’t fail because they decided to join an MLM or network marketing opportunity; they fail because they joined without knowing why they joined and what they would be willing to do to become successful. Often the desire to join an opportunity is fueled by emotion, out of a desire to change their lives, or perhaps a sense of obligation to the person who introduced them to the program.
I have found that those who get off to a great start, fight through rejection, overcome objections and get over the line (the point where it is more emotionally difficult to get out than to stay in) answered three critical questions and had a full understanding of the consequences of failure; they understood what they were giving up if they did not persevere.
Question #1. What is the driving force behind my decision to invest my money, time and energy into building a successful MLM or network marketing business?
Time Freedom
Childs Education
Paying Off Debt
Retirement Savings
Buying Your Dream Home
Charitable Giving
Changing the lives of others
Breaking the cycle of poverty
Achieving the goal of a six or seven figure income
These are very strong reasons to embark on a career in MLM or network marketing. If your “why” is big enough you will be able to justify your monthly auto-ship, learn to accept being told no by a prospect, maintain your focus and invest the time required (typically 10-15 hours per week) to build a meaningful residual monthly income and achieve your objectives.
Question #2. How much money do I need to make in order to achieve my objective for joining an MLM or network marketing opportunity?
Most people have a monetary number in mind when they enroll and it may surprise you to learn that it is not always a six figure annual income. The majority of people are not able to wrap their brains around the concept of earning more than three times their current annual salary. Therefore, a prospect that has never earned more than $40,000 in a year cannot conceive of earning $40,000 in a month although there are thousands of people doing just that in a wide variety of industries.
It would benefit you greatly to know your number first as this will give you a barometer with which to measure your own progress. Then make it your practice to help everyone in your down-line and every new prospect uncover theirs so that you can make plans and provide a clear road map showing them how to achieve the goal. If you spend your time trying to “motivate” someone to earn $100,000 in a year that cannot conceive of earning more that half of that you will set yourself for frustration and may cause them to fail before they start.
In the event that you or your down-line dreams of making the six and seven figure incomes available in MLM and network marketing, you must have a system to support such a vision, which will greatly increase your probability to succeed in achieving your goal. It is important to understand that there are a few simple and duplicatable activities that if incorporated into a system will predict your success in this industry.
Question #3. What is the timeframe that certain income benchmarks must be hit and what is the timeframe by which you want to achieve your income goal?
When I evaluated my primary opportunity I was very clear that I wanted to recover my initial investment in the first thirty days and I quantified how many enrollments I would have to bring into the business in the first thirty days to achieve my goal. The number was eight and I actually enrolled twelve and became instantly profitable. This may not be the goal for everyone and many may not expect to see a return for months. One of the great advantages to joining MLM or network marketing is the comparatively low start up cost and the ability to make money quickly in some (not all) programs.
If you set quantifiable goals for yourself, your down-line, and prospects, you will be able to maintain the proper perspective when you hit a rough patch or two along the way. Remember, it is always easier to build fast rather than slow in MLM; keep in mind that this is a momentum business and people generally want to know that they can achieve success in a fairly short period of time.
Key Points:
1. Make sure that you develop a big enough WHY for yourself and your team
2. Quantify your income goal and develop a system to create predictable results – www.SpeedEnrollingOnline.com for my free e-book and MP3 files.
3. Establish a timeline and set benchmarks to ensure you are on track and to maintain your perspective.
(c) Copyright 2008 James A. Holmes. All Rights Reserved.
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James Holmes, Global Team Builder, Coach and Trainer, combining online and offline techniques to help you grow your business. To request a free 30 minute consultation contact James by phone at 303-523-9503 or email at james@AskJamesHolmes.com
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