5 Keys to Success in Network Marketing
So you’re looking at joining a network marketing organization and you’re wondering, “What do I need to do to be successful?” This article will give you 5 Keys to achieving success in any organization.
I spent 5 years in an excellent network marketing business with an even more excellent leadership system. I look back to the years spent, lessons learned and the ongoing impact it has on my life today and am so very thankful for the experience. My wish for you is that this article will help you have greater insight so that you too can have a life changing adventure.
Network marketing is an amazing opportunity if you believe in the product or service and have some drive to succeed. Before I lay out the 5 Key to Success, it is important to understand that the team you join and the focus you give will truly determine your level of success to a high degree. Before joining any network marketing system evaluate the team you are about to join with. Just like any business or team sport if you don’t have great leadership and people to guide you thru the system, you’ll be left discovering and creating it on your own which is much more difficult. I would recommend everyone spending time in network marketing as long as they are part of a team that leads, teaches and supports. Without that, the future is not bright.
Once a system and a team has been identified and you’ve started your business, these 5 Keys will make all the difference in how far you go.
Key#1 – Think like a business owner and teach it.
Treating your business like a business seems like such a simplistic key but it’s one of the biggest reasons for failure among network marketers. Many people have this thought that they’ll make crazy dollars for simply “joining”. Now this is due in part to over promising recruiters who will say anything to get you to join. If you are told this run.
If you’d like to truly make money in network marketing you’re going to have to treat it like you would any other business. You’re not just “trying” this “thing”. You are a committed business owner who believes in their future and the product you handle. Treat it with respect and it will do the same to you. This is a mental battle but once your view changes you potential clients will sense your seriousness and will respect it like you do.
After getting this mind set you’ll then want to teach the same mindset to your team. Obviously your success is based on building your own team of business owners. Your success is built on their success. What you learn, you then need to teach. Just imagine the impact a team of true business owners can make!
Key#2 – Use your own product and teach.
Seriously you’re thinking. Do we really need to cover this? The answer is yes! I’m telling you, you would be so surprised at how many people join a network marketing group and then don’t use their own products! They’re happy to try and sell it but don’t want to use it themselves because of the product itself or it’s price. How on earth can you promote the value features of something and then not use the product?! Honestly you either need to start using the products or get out and work with a product you believe in.
Not using your own products not only will impact what your customers use but can crush your organization. You can build the biggest team in the world but once they know you don’t use one of the products, it gives everyone permission to pick and choose what they use. Would you rather your organization to be using all the products or just some? You know the answer.
Once you come to terms with this your next step is to teach it to your team. It’s fairly easy to draw out an organization and show that if everyone in the group stopped using one product what financial impact it would have on the whole group. Show them why and help them understand. Yes, they may need to leave a product that they love behind. But if they are hungry to achieve a certain predetermined goal, it’ll be easier to let it go.
Key #3- Be Duplicable and teach.
The magic in network marketing happens when your team grows and volume increases in multiples without you doing all the work. The easiest way to do this is to make everything you do and teach duplicable. This keeps your team unified and one person isn’t being taught different than another.
An extreme example to learn from would be imagine if one of your teammates goes and rents an expensive billboard to promote his business to the local area. The rest of your team is now at a disadvantage AND more importantly any potential new business owners would be deterred because they will think to be successful they have to have the resources to do the same.
Another example would be to imagine two business owners on your team talking and coming to the realization that one is being taught one way and the other another way. This can cause crippling confusion to go thru the ranks as second guessing becomes their first thought.
What do you do once you have a system nailed down to duplicate? You teach it of course. You want your army of business owners to all being doing things the same way. If your leadership isn’t doing this, then you be the first. I’m telling you the net results of organizing a system and duplicating it is huge!
Key #4- Develop Clients and teach.
Yes, clients, aka people who are not in business with you but do purchase your product or service. This is the life blood of any network marketing business. You have a have a great team of business owners all using their own products, but if you don’t have clients you just aren’t making the “bread”.
Developing clients is a whole conversation and teaching moment of its own. What’s important to realize in this article is that it is a necessity. If you believe in what you are selling clients come easier. If you are only trying to sell people on it but don’t use it yourself or believe it has a benefit for them, it’s an uphill climb. Show them the benefits and why you truly believe it can benefit them on a personal level. Provide an answer to the problem they want solved.
Developing clients not only is important for you to do but it’s crucial to the team’s success. If you don’t do it, then you can’t teach it. If you don’t teach it, it won’t get done. So unless you are simply looking for a group to hang out with and not make money, start developing and teach your team how to gain clients.
Key #5 – Be Profitable and teach.
It sounds funny right? Be profitable. Uh, I think that’s everyone’s goal that joins network marketing. So the question is, “Do you really know how to be profitable in your business?”
All network marketing groups have different compensation plans. They all produce income by building organizations and growing a client base. But they don’t all structure their compensations the same. One of your first jobs in owning your own business is to understand completely how you will get paid. Do you earn more by signing business owners directly to yourself or under others in your organization? I you were to add one additional client would it push you over a threshold that multiplies your total earnings? You get the point.
In any business the goal is to make a profit as soon as possible and then to maximize the efforts put in. Once you have a complete understanding how your organization works, don’t wait to start teach your team your knowledge. The more profits, the more enthusiasm. The more enthusiasm, the higher the profits. Go get em!
** Disclaimer: These Keys are based my experiences and results for you will vary. The thought that I even need to write this leads me to think that someone who would like to blame another for their lack of success, probably was need hearing the advise of this article. You are responsible for your own results.