How to Succeed in Network Marketing
Now that you’re probably adept at distinguishing a legitimate Network Marketing business from an illegal scheme (hyperlink to prev article), let me show you to succeed in different types of Network Marketing compensation plans.
First and foremost, let us visit the basics.
Whether you’re in Network Marketing (or any other type of Affiliate Marketing), or any type of business – in a bid to make money for yourself, you need to clear your head and fulfill these 2 criteria:
1) You need to respect money.
Money is good. It is a force for doing good in the world. And it solves most of your problems.
2) You need to learn how the money is made.
By this I don’t mean that you need to be a bad-ass businessperson who knows how to pump money out of dry ground, but that you understand the principles of making money.
The principles of making money are fairly simple to understand, even if you’re … say .. a schoolteacher or a cello player with no prior education in Business or Marketing.
Apart from a few basics, it mostly involves getting your ego (and your expensive education) out of the way…after all there’s a difference between being skeptical, and being stupid – y’know what I mean 😉
Next, you need to start getting up to speed on Network Marketing basics:
3) Get conversant with Comp Plans
Different MLM companies will offer different ways of collecting tiered sales commissions. That does not mean that one of them is genuine and the others are not. It just means that different companies follow different comp plans – that’s it.
(Needless to say, stay away from any company that tells you that you will be paid based on your position or will be paid for little or no work)
NETWORK MARKETING COMP PLANS
a) Stair Step Breakaway/Coded Plans – You get paid on your network volume up till a certain level, beyond which you make residual income from the network.
d) Binary – You build 2 main legs, and put all of your sponsored affiliates into one or the other
Flushing Binary – You have a limited time (typically 4 weeks) to match your left and right side volume before it “flushes” or disappears
Non-Flushing Binary – As long as a distributor makes a minimum monthly personal volume, their team volume accumulates or “banks”.
4) Operate on the edge of your ability.
If you’re doing something and succeeding 80% of the time, you’re probably wasting your time and not stretching enough.
In network marketing it’s doubly true.
Since it involves meeting and presenting to a lot of unknown people, the more uncomfortable it makes you, the more you inch towards success.
In that regard, growing your skill set and your income is no different than growing your muscles. You’re either growing, or dying. And in order to be on the other side of dying, you need to be pushing yourself and operating outside your comfort zone.
5) Practice, Practice….Practice…..
Practice your skill set till it becomes second nature. You will get better with time.
After the first week or two of intense practice, the interpersonal interactions start to become a blur.
Patterns emerge over time. Puzzling responses from prospects start to come clearly into focus. Situations and reactions can easily be predicted before they occur.
Over time you will devvelop powerful and cute social intuition, finely tuned from time spent in the field – this is known as calibration.
6) Mentor others
This is a whole subject in itself.
How do you mentor others?
Take a guess…
Do you take classes, or be an adviser, or take apprentices … what do you do?
Well, this is where a surprising lot of marketers go all wrong. The moment they have a couple affiliates join them, they go into “coaching mode”.
Unfortunately that doesn’t work in modern times (Check out my article on Mentoring to know WHY).
So how do you mentor others?
You mentor others by working not on OTHERS but on YOURSELF. Rinse, repeat, rinse, repeat, rinse, repeat – till you hit gold for yourself.
Your team will see you and learn themselves.
Real leaders don’t really have time to teach others. They can just set an outstanding example and leave it to others to learn for themselves.
So, that’s it with this post.
I wish you good luck ad success in your own Affiliate Marketing or Network Marketing efforts.
If you’d like to get started with a low ticket offer (with no recurring fees or subsequent purchases), in order to perfect your skill set and make a few thousand bucks, try out my auto-replicating funnel at www.ezeeprofit.com