For the many people new to the MLM business, or for veterans who have yet to realize success in the industry, recognizing and correcting four detrimental yet commonly made mistakes can make all the difference.
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For the many people new to the MLM business, or for veterans who have yet to realize success in the industry, recognizing and correcting four detrimental yet commonly made mistakes can make all the difference. Today, we will look at some of the mistakes many in the MLM business make and what you can do about them.
The first mistake practically everyone makes in this industry is trying to sell. We are in the teaching and mentoring business. If we are doing this right, we are building relationships, not trying to get people into our deals. People can feel the difference when youíre talking to them and trying to sell them. They donít like it. Neither do you! You donít like to be sold, and you donít like the feeling you get when youíre trying to sell something. It doesnít sit right deep down inside. So stop it! Build relationships, and success will follow. That is key!
Not checking the background of your company leadership to make sure that they have MLM experience, with integrity, is another mistake. Why does this matter, you ask? Well, do you want to build this once, build it big, and build it for your childrenís children? Then you better make sure that the people running it know what theyíre doing and respect the guys and gals in the field who are building it. The best way to do this is to read your companyís policies and procedures. Some of the things you will find there will make you scream! When you read them, youíll realize who you are really building the business for and itís not you! Please, please, read the policies and procedures!
Not knowing how many people it takes to earn the income you want is a huge blunder. Do you want to make $10,000 every month? Okay, then how many people in your organization does it take, on the back end, to make your goal? How doable is that? Are you having trouble just keeping 10, 20, or 30?
In most comp plans to make $10,000 a month, you need anywhere from 1,600 to 5,000 people, depending on how your plan is set up. How doable is that when you canít even keep 30? I know of a comp plan out there that requires less than 400 people to make $10,000 monthly. How much easier do you think it is to keep people in that plan? Pretty easy, Iíd say. So make sure you know the numbers, then crunch them to see how doable it is for you.
The final mistake that many MLM distributors make is going after their friends and families. Unfortunately, a large majority of companies out there employ this ìtechniqueî as their primary source of lead generation. Ouch! Let me just tell you from personal experience that your ìwarm marketî is the coldest out there! If youíre in a company where this is the primary source of lead generation, you are in for a hard time, my friend! This technique does not work. The best leads are the ones you generate yourself, and if your company, team, or upline doesnít have a system in place to do that, itís going to be very tough.
These are just a few of the mistakes many people make in a MLM business, but with some basic skills and a good system in place, these mistakes are avoidable. If you are having difficulties, take a good look at these mistakes and see if youíre not making one of them in your own MLM business.