With network marketing, you get out what you put in. You can make however much money you want based on what you’re willing to learn to earn. What’s great is that you don’t have to hit the ground running while knowing all there is to know about network marketing. Instead, you can learn as you grow and watch your profit grow with you. Here are some tips on how to do this.
If you’ve done any research at all about network marketing, you’ve run across the word ‘duplication’. If you are just getting started on your research, well let’s introduce you to ‘duplication’ now, as you’ll see it a lot. Duplication is the key to a network marketing business. You basically create a team that just copies what you did to recruit them to then recruit even more people.
Numbers is what makes a well to do network marketing team. The greater the number of people who see your website and products, the more sales you make and therefore the more you will profit.
You don’t just want customers from these numbers, though. You want team members, recruits, people who will then duplicate the system to make your numbers grow even higher.
Your customer percentage of your team should really only be around 20%. Customers come and go, bringing you only temporary profit. With distributors, you bring in higher commissions once they have customers, but with business builders, you make the most. Recruits who are business builders are interested in the higher profits as well, meaning they will work to recruit more people to up those numbers.
You want a deep organization with upwards of 10 levels or more! The more recruitment and the greater the team builder percentage, the more successful your network marketing business will be.
Don’t worry, this isn’t going to happen overnight, and it will take some learning to get to that point, but you can get there within a few years if you pour in the consistent effort at the start of your business.
Growing MLM Depth the Easy Way
You can grow depth within your MLM business most easily by generating leads. You should talk to your upline and discuss what they currently use as their recruitment technique and think of ways to best adapt this to what you want to do. If they have something that works perfectly, duplicate it! If it needs work, do some tweaking but make sure it’s able to be duplicated so that your team can generate leads as well.
The key is to immediately teach your new recruits the methods of generating prospects. You may even want to use a webinar or video presentation to walk them through the process. Remember, giving your team all the secrets only benefits you as well, so give them the information they need to thrive right away so your business grows as well.
A recruit shouldn’t even be thought of as successful until they have started recruiting as well. Once your team is recruiting, then you are in it to win it. Again, this will take a couple of years, but once you’re 4=7 levels in, you’ve got a great foundation on which to build.
Hit the Ground Running
When you sign someone up, you need to get them going immediately. There should be no lag time between them signing up as a representation and their training. When I sign someone new I immediately send them a simple welcome letter. Keep it simple because it’s easy to duplicate, and again, duplication is money.
In this welcome letter, I include how to logon to their account and dashboard. I let them know what we share the most to get the highest amount of leads. I also show them our most successful way of generating leads, then I include a video on how to do all of this.
People often get to this point in the process and get too high of expectations. They think this new rep is going to build an incredible team overnight. That is not going to happen. Sorry to break it to you, but not only is that timeline vastly incorrect, but only 10% of your reps will even go on to recruit.
Most reps may recruit one or two people before getting discouraged and quitting. Many won’t even get that far and will stop at being a customer. That’s ok! You only need a handful of rockstars to make your business successful.
As a leader, it’s going to be your job to see those low numbers at the beginning and know it will be okay. You just have to keep it up. Those recruits who also have a leading mentality will do the same and will power through to find more leads and continue to grow. Those are your rockstars.
A leader must generate creative content to be shared to bring in new recruits each year. This could be the startup of a YouTube channel, a blog, or even an eBook series. Whatever works best for that person, product, and business area. As a leader, it is important to understand that you’ll have to continue to create this content.
To go far in network marketing, you’re going to have to develop a can do attitude and a thick skin to push through the struggle at first. You can’t foresee how people are going to act in your team, so you’ve got to prepare for complaining and quitting. Don’t take these things personally. Instead, brush it off and move to the next. That’s just the name of the MLM game.
People will have high expectations and come in thinking they will bank by the truckload in no time flat. You’ll either have to lay it out there for them or let them see for themselves, but it will mean a lot of leads with little success following through. Be prepared, but know it’s the nature of the business also.
What’s great about the MLM network marketing business, though, is that you will earn more as you learn more, no doubt about it. My first two years I only brought in a combined $5000. The more I picked up along the way, the more my income increased, and now I am a leader that makes way more than that first $5000.
You can always learn more through MLM. I’m still learning to this day, so never think you’ve got all the knowledge either or you will end up limiting yourself and your profits. Read about it, watch informational videos online from other leaders with more experience. If you’re in a position to do so, test new techniques or methods. Never stop learning and you’ll never stop earning.