Many people approach a Multi Level Marketing opportunity with preconceived ideas of how to be successful, some learn to adopt successful practices, whereas others get disheartened and leave. The ones that leave are the ones that will tell you that MLM simply does not work, the neigh sayers. More often than not this is because they have not been properly educated by their sponsor. Here, the Star Builder team believe in getting it right from the start, thereby avoiding the inevitable bloody nose experience.
There are a number of common mistakes that people new to network marketing or MLMs make, and if you are already a member of an MLM you too may have made one or more of them already.
Walk Before You Run
Okay, so you have just joined an MLM, you’re excited (after all you would not have joined otherwise) and you want to tell everyone about the opportunity. Stop, before you make this mistake you should go through the training that is on offer by your organisation and sit down with your sponsor to work through your goals and your business plan.
What is likely to happen if you don’t do this is that you will get answered questions you are not ready to confidently answer, you will not correctly pick people with whom you can work with to build a strong business, and you will potentially burn some of your prospects. It is in your interest to work closely with your sponsor, and it is your sponsors interest to set you on the right path, the path to duplication.
It’s All About Product Sales
So it’s a fantastic product, and you believe it, so you want to share it. You start speaking to everyone, yes it’s a variation of the above mistake, and build your business purely on retailing this fantastic product. This is not necessarily a bad thing, people can make some serious money by purely retailing. The problem is that your whole time is consumed by selling it that you hit a ceiling, and your income is purely dependent on your ability to increase and replace customers, ask yourself what happens if at some point in the future I want to take a holiday?
The solution to this is to follow the path of duplication, are we getting the message yet – duplication is good and a core part of being successful in an MLM.
It’s All About The Network
So you realise that retail by itself is not the path to success, and you grab onto the concept of sponsoring people. In your first month you convince 20 people to join that you sponsor, it is not hard to convince them, I mean you’re convinced yourself and the more people you bring on board that share your conviction the better, right?
Wrong, if you bring on 20 people on in the first month you will not be able to have enough time to adequately train and mentor each of them. Consequently you will have a large number of those that you sponsor drop out and leave. It is far better to work closely with between one and five people than it is twenty. Also what message are you sending out to those that you encourage to join? You are letting them know that to be a success like you, they need to bring on twenty people a month, and when they see your levels of work they may well drop out there and then.
You are in effect a leader and you need to show that you are pursuing a bit of retail and a bit of sponsoring and training. If you do not do this and those you sponsor do the same then you will find yourself only ever selling the product to each other. If it is a good product then you owe it to others to share it with them, even if they only want to be customers.
Taking this approach is not the path to duplication, it does not scale and you will not end up with the lifestyle that you wanted when you joined the business.
Buying Enough Marketing Material and Product ‘To Sink a Ship’
Having a garage full of your product is not going to benefit you, though many new to MLMs like the product so much they feel they need to become stockists! Yes you do need to purchase enough for yourself and to develop your business, but this is not rushing out and buying in such bulk that you are drowning in it. This inevitably leads to falling into one of the other traps above, and you cannot those you sponsor to do the same.
You joined the opportunity because of the low investment level required to make it a success, investing ten times as much does not equate to achieving it ten times as quickly or ten times as big. This is not duplication, and you have missed the power of the MLM structure.
The Power of Duplication
Many join MLM schemes with the intention of achieving a better lifestyle, this can only be achieved if you have the ability to work less to spend time on the things you want to. Initially you are going to have to work harder, as the majority of those that join an MLM do so alongside an existing job or business. However, for it to be sustainable, you cannot add ten people who add ten people who add ten people IF you have to spend your whole time having to develop their business for them. For those that have done the maths that would be 1110 people with whom you’d need to devote time to. That is not scalable and you do not have enough hours in the week to achieve this!
Okay, lets say you sponsored one person a month, and you taught them how to sponsor someone else at the rate of one per month. Does not sound like a lot does it, it is certainly within the realms of possibility wouldn’t you say? Yet you probably think that this will get you less within 12 months than the 1110 people using the 10 x 10 x 10 approach, right? Wrong… lets do the maths together…
Month 1: You + 1 = 2
Month 2: You + 1 + 1 + 1 = 4
Month 3: You + 1 + 1 + 1 + 1 + 1 + 1 + 1 = 8
Month 4: You + 1 + 1 + 1 + 1 + 1 + … + 1 + 1 + 1 + 1 = 16
Month 12: You + 1 + 1 …. + 1 + 1 = ?
So how many would you have in your team? Well the answer could well be 4096, but it depends on how your MLM caps the rewards – remember this is not a pyramid!
The key to achieving this duplication is to correctly train those you sponsor, and mentor them as they train those that they sponsor. Failure to do this will see you working all hours of the day striving towards your 1110 and not getting anywhere close!
Those high achievers strive to achieve 1 more than this, does not seem like a lot does it – after all it is just one! After 12 months of sponsoring 2 people a month you would have 531,441 people in your network – I’ll leave you to do the maths. You certainly could not do this by sponsoring all of them yourself…
What you have to ask yourself is can I sponsor, train and mentor just two people a month? Can I help those people to do the same? Do you want the help and support of the Star Builder team in doing so, if so then register your interest and join our team?