4 Ways Not To Build Your Network Marketing Business
At one point or another, we all struggle with building out Network Marketing business. Whether it’s training team members, struggling with duplication or making phone calls. I’m not going to sugar coat the industry, as it’s not “easy” for most people. There are a lot of hurdles you have overcome and a lot of lessons to learn.
Most Networkers, they just drop out every time they hit a brick wall. The smart guys fight and figure out ways to break past the walls they encounter. Anyway, there are certain things you should and shouldn’t do. I just thought it’d be fun if I talked about how NOT to build your Network Marketing business.
1. People Join People, Not Companies
This is probably the most common mistake people make with recruiting. As soon as they get a prospect or someone asks about their “opportunity”, they start talking about how great the company is. Stuff like “our compensation plan pays out 3 times as much as other companies”. Or “our product has helped 5000 people get healthier and it’s better than any other in the niche”. The truth is most people don’t give a damn about that stuff.
They just want to make enough enough money to support their dream lifestyle. Even if your company’s product does have 300 more ingredients than any other, don’t mention it. People don’t join for the products or compensation plans, they join to make money and work with people. People join people and you shouldn’t use your company, comp plan or products to recruit. You just need to remember that you are in control, you have what your prospects want.
2. Don’t Justify Why People Should Pay The Price
Sure, if you’re selling an actual product that say… saves you $1000 per vacation, you can justify the $300 price tag because whoever buys it will be saving $700 per trip. However with Network Marketing, you DO NOT need to justify your price. A lot of people say “well I can buy a similar product for a third of the price, why would I waste money on yours?”
Again, you have to remember that people shouldn’t be getting in to buy a product. If you’re using your company’s product as a key selling point to get people on your team then you’re an idiot. Almost all Network Marketing products are overpriced. If you want to make money selling products, go be an affiliate marketer. The commissions are better and you just have to sell products.
You have to ask people how much your opportunity is worth to them. What’s the real value of them starting a business, working for themselves and having unlimited profit potential? To me, you can’t even put a price on it. When people come to me, I ask them if they’d like to work with me or not. They almost always say yes and if they do, I tell them they have to join and pay the price or their lives will remain the same.
3. Don’t Spend Too Much Time With Your Downline
I’m not saying don’t spend any time with your downline, as it’s mandatory. I’m just saying don’t spend too much time, you’re a business owner and have bigger fish to fry. It’s crazy to spend more than a few hours helping someone get started. The statistics say that well over 90% of your downline will quit or never recruit anyone. So why spend hours training them only to see them drop out a few months later?
Instead of spending your personal time with your downline, have a system take care of training. I’ve seen so many people attempt to individually teach their downline the same skills and values they were taught by their sponsors. You can just record a bunch of videos teaching everything you’d teach in person, and then host the videos online in some kind of training center. Setup your own training system and as soon as you recruit someone, send them off to get started without your help.
4. Don’t Market Online
Although the majority of my downlines have been built through online marketing, I don’t advise regular people to go near it. It’s stupid, traffic and lead generation takes months or years to master. If you’re starting at the very beginning, it’s going to take you at least a few months to see any real results from online marketing.
So you should always get started offline with your warm market. You can start by contacting your friends and once you’ve burnt through your warm market, get started with offline marketing. There are LOTS of ways to market offline, you can do home meetings, got to seminars, hand out business cards, drop cards and more.
P.S. Let me know your thoughts, comments and questions in the box below. Also leave me your name and email in the box below for more cool MLM tips, tricks and secrets.