The ten steps to MLM success vary depending on the source. In my version, the third step is ubiquitous among all lists: educate yourself.
Know the company compensation plan.
Not every company has the same compensation plan. For example, every MLM company claims to have an unlimited income potential, but the fact is, most don’t. Most only allow you to build an organization so many levels deep. When you fill all those levels, that’s it.
Now, that maximum is still nothing to sneeze at. But it doesn’t represent “unlimited” income potential. So know the compensation plan. If a distributor’s income is eventually limited, don’t misrepresent that.
On the other hand, you may belong to one of the few companies, like mine, that do allow for a truly unlimited income. Make sure you understand how that works – the minimum number of active, personally-sponsored distributors you need to have to qualify for each income level, as well as how much personal volume you need to move each month to qualify.
Know the product line or service.
One of the biggest parts to this third in the ten steps to MLM success is knowing the answer to such questions as these: What makes your company’s products unique? Does your energy company provide a “green” choice for customers?
Use the products every day so that you can testify as to their effectiveness. HINT: if the products do nothing for you, maybe you need to find another company!
Learn effective marketing techniques.
Most companies don’t train you on how to market beyond telling you to “share the plan” with a hundred people. This is not marketing; this is annoying people who often don’t care about either the products or the business opportunity.
Many sponsors do nothing to help their downline to market, because they’re ignorant about effective methods themselves. They may tell you to buy and call leads, give you a script, and wish you luck.
So you really need to educate yourself in the area of marketing. Research about how to use Internet Marketing to build your business. Even better, sign up with a sponsor who will give you a guide and additional resources to help you do just that.
As you consider this component of the ten steps to MLM success, don’t ignore your warm market! If you lack people skills, learn them. Read Dale Carnegie’s classic, How To Win Friends And Influence People. Join your local Toastmasters group so you learn to get comfortable talking to strangers. Most of all, learn to have genuine conversations with people, and to avoid arm-twisting. If you really love the products and/or business, they’ll come up in conversation without you having to manufacture anything – and you’ll talk about them in a genuine and enthusiastic way that just might get the other person interested in your business endeavors.
Your company likely has archived conference call, podcasts, and/or webinars that you can access from your back office. They also likely have weekly training calls.
Absorb all this information, plus work on learning proper marketing methods. Like all of the ten steps to MLM success, this third steps will take you far – if you do it.
See you for step four!
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