Building a business of any kind is tough, and a lot can be learnt through experience, but what if you could learn from others who have ‘been there and done it’? Here, we take our learnings from several successful network marketers and summarise them into 8 simple tips to building a successful MLM business.
1. Join a company with Products/Services you will use, and you believe in
When most people see a network marketing business opportunity for the first time, it’s the first time they have been introduced to the MLM industry. With the MLM industry offering significant income potential and the offer of freedom, it’s easy for people to focus on those and believe that the company first exposing them to the industry is the right company for them. It’s rare for a person to go and research other companies in the industry to find the one that offers the products or services it most believes it, but this research will pay off as you will find it much easier sharing products/services and a business opportunity that you are genuinely passionate about.
2. Identify and understand who you are targeting
The key is in the name – network ‘marketing’. Marketing is a key part of growing any business, and in particular, an MLM business, and marketing is all about delivering the right message, to the right person, at the right time. To achieve this, you must first identify who you are trying to target and understand their behaviours and interests. This means, don’t try to offer everything to everyone, that approach won’t work.
3. Share your Products/Services and Business Opportunity every day without fail
This is an obvious one, but it’s extremely common for business owners to focus on either their product/services or the business opportunity and forget about the other. But, to grow large successful MLM business, you need to focus on both, and that means talking about them EVERY DAY!
4. Be genuine
Don’t be one of the reasons the industry gets a bad name; be sincere and genuine in everything you do; your approach, the information you give and your personal experiences and results. False claims or exaggerations of any kind will not help you, your business or the industry.
5. Don’t bombard your contacts
Bombarding your contacts will only ruin your chances of them joining the business or buying your products/services. Focus on sharing your successes as well as case studies of your products/services and let your contacts ask you about questions. Create curiosity, and they will ask you to tell them more; far more effective than you forcing it upon them.
6. Set clear goals for all activity
Every successful business started with goals, and MLM businesses aren’t any different! Having goals enables you to track progress and hold yourself accountable so make sure you set clear achievable goals for all of your activity; events, prospecting, team trainings, etc…
7. Sell solutions to problems
We understand you’re trying to sell your products and services, but remember to sell them as a solution to a problem. This approach is super affected and, it keeps your conversations with your contacts super relevant. Listening to your contacts’ problems and offering them solutions will make the sales process seem effortless.
8. Develop duplicatable processes
The whole MLM industry relies on duplicatable methods so make sure the tactics, tools and processes you use in your business are easily duplicatable so you can train them down as you grow your team.
Hopefully, you’ve found these 8 tips for building a successful network marketing business useful. Please feel free to share them with your friends.