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A serious marketer is always in a recruiting mode. However there is a big difference between recruiting and sponsoring people into your business. Recruiting is nothing but signing a bunch of people up and hope you get a few serious people in your team who are big builders. It is mostly a sales driven approach. While there is nothing wrong to be always being on the lookout for more people to join your business, I just want to point out the difference between sponsoring and recruiting.
As you read above recruiting is truly focused on hiring more and more people, sponsoring on the other hand is at the other end of the spectrum. As a sponsor you are not only looking for quality people to join your team but are also willing to spend time and help them learn the ropes of business once they join your team. You guide them and hand hold them in initial stages to help them achieve specific goals.
To put it in a nut shell sponsors are teachers where recruiters are sales people. Most of successful people in Network Marketing are teachers rather than sales person. The issue with recruiting is that there is high rate of disengagement and once a person leaves or drops out, all your effort and time put with that particular person goes to waste. On the other hand, a sponsor is someone who builds friendships, make people comfortable with the system and slowly helps them achieve success. This builds confidence and eventually helps in building a quality team which is motivated and works towards the common goal.
It is matter of personal preference what you really want to be in this business of Network Marketing. Being a recruiter is good when you are ready to put in lot of effort in a person and accept it if that person leaves. It is just an act of getting people in business. Sponsoring is act of signing up a person and then starts the process of mentoring, tutoring. When you are a sponsor you are focused on your approach and people you recruit. You listen to their problems and help them overcome them. You help them find new customers and show them how it is really done. This keeps the people you sponsor excited and also builds the confidence they need in the initial stages, which lowers the chance of them quitting your business.
If you want to put all your energy on being a recruiter you might eventually succeed, but hardly 5% of your recruited team members might ever succeed. In networking business you have to remember that to succeed in this business it is all about helping people get what they want and you will get what you want as a result. I feel it is much easier and smarter to sponsor people and help them to do the same. You should always teach them to have good work habits which they then can pass on to those they sponsor, this way you have a system which is well-oiled and works smoothly and everybody at the end of the day find themselves as a winner.
Network Marketing Success can be a breeze, if you implement the latest sponsoring and marketing strategies into your business. On the other hand, if you fall into the 97% of network marketers that ignore the simple yet essential principles of success in multi-level marketing, you’ll likely struggle to build a large team and ultimately give up. It is sad to report but network marketers, on average, quit after 93 days of working hard. I want to help you beat these odds and I’ve put together five critical MLM success strategies that will greatly improve your chances of success in network marketing. Keep in mind, that after you read them, you simply put them into action.
Network Marketing Success Tip #1:
Don’t be an MLM junkie. By that I mean, commit to staying with your chosen company for at least a year, rather than ‘hopping’ from one company to another, attributing each and every failure on the company. You see, 99% of the time, it’s not the company’s fault that you’re not making money with this company or that company; the reason you’re not making a profit is because you simply haven’t gotten through the learning curve yet. MLM is a real industry and it can be complex to really ‘get it’ in the beginning. As a new marketer, you need to expect a learning curve of 3-6 months, and then once you learn what you’re doing, of course you need to actually implement it. That’s why it is so important to stay with your company for at least one year.
Network Marketing Success Tip #2:
It is pretty simple; there are 3 ways of making money in network marketing. You make money by retailing products, sponsoring new reps and training the reps you recruit to sponsor new reps. Therefore you need to set up fundamental activities that concentrate on these three ways of making money in your business, and execute them. Focus only on these three things and not on anything that’s not directly related to making you money.
Network Marketing Success Tip #3:
You joined a multi-level MARKETING business, and too often, the word marketing is completely and totally overlooked. Instead you’re told to grab anyone within 3 feet of you and pitch them on your opportunity. This is really not marketing. To really be successful in MLM, you need to learn how to market your business in a professional way that actually attracts people to your opportunity. And by that, I mean that you’ll want to position your business in front of the people who are looking for it. For example, take Facebook for instance: hundreds of thousands of people every day are actually on Facebook seeking out a business opportunity. Why not market to them, instead of uncle Jim? Makes sense, right?
Network Marketing Success Tip #4
It’s all about you, not the company – people join people, not business opportunities. That’s right, even though you have an outstanding product and your company is rock solid, people will only sign up with people they like and trust. If you want to really be successful it is very important for you to brand yourself as a leader in your business. Leaders position themselves as experts, and it is vital that you are a leader, and not just another MLM rep. Concentration on the benefits of working with YOU directly and not on how great your company is. There are thousands of other people out there telling YOUR prospects how great THEIR companies are…you’ve got to stand out. A way of really standing out from the others is by doing Network Marketing Success Tip #3 and learning marketing. Why? Because honestly 97% of people in this industry have no clue about marketing, so if you can learn it and teach this to your downline, you’ll hold real value. People will see that, and instantly want to join you.
Network Marketing Success Tip #5
Having a plug-and-play system in place that to teach your new recruits so they can get into profit fast and avoid the pit falls that so many network marketers face is vital. Even if you can recruit people right and left, but don’t have a training system in place, they’ll quit faster than you know what happened if you’re not teaching them how to get into profit mode fast. This system is what is known as duplication. It must teach people how to market their business effectively, so they produce leads on a daily basis, and the people who your downline bring in will be able to plug into the same training system, allowing them to easily train their downline and reach long-term wealth as well. This is the lifeblood of your business.
And, if you follow my tips and learn how to do things like the top producers do, then you can make a very good income from any legitimate MLM business opportunity.
I read a great article today in the Business Insider written by Grant Cardone. For those of you that don’t know him, he’s the author of the 10X RULE which is a book I’ve referenced as a must-have for all entrepreneurs.
In the article he shared 10 powerful tips for wealth creation that I felt were definitely worth reposting. So take a minute and read through these. See what value you can take and apply in your own life and business from this!
1. FOLLOW THE MONEY
In today’s economic environment you cannot save your way to millionaire status. The first step is to focus on increasing your income in increments and repeating that. My income was $3,000 a month and nine years later it was $20,000 a month. Start following the money and it will force you to control revenue and see opportunities.
2. DON’T SHOW OFF…SHOW UP
I didn’t buy my first luxury watch or car until my businesses and investments were producing multiple secure flows of income. I was still driving a Toyota Camry when I had become a millionaire. Be known for your work ethic, not the trinkets that you buy.
3. SAVE TO INVEST, DON’T SAVE TO SAVE
The only reason to save money is to invest it. Put your saved money into secured, sacred (untouchable) accounts. Never use these accounts for anything, not even an emergency. This will force you to continue to follow step one (increase income). To this day, at least twice a year, I am broke because I always invest my surpluses into ventures I cannot access.
4. AVOID DEBT THAT DOESN’T PAY YOU
Make it a rule that you never use debt that won’t make you money. I borrowed money for a car only because I knew it could increase my income. Rich people use debt to leverage investments and grow cash flows. Poor people use debt to buy things that make rich people richer.
5. TREAT MONEY LIKE A JEALOUS LOVER
Millions wish for financial freedom, but only those that make it a priority have millions. To get rich and stay rich you will have to make it a priority. Money is like a jealous lover. Ignore it and it will ignore you, or worse, it will leave you for someone who makes it a priority.
6. MONEY DOESN’T SLEEP
Money doesn’t know about clocks, schedules or holidays, and you shouldn’t either. Money loves people that have a great work ethic. When I was 26 years old, I was in retail and the store I worked at closed at 7 p.m. Most times you could find me there at 11 p.m. making an extra sale. Never try to be the smartest or luckiest person – just make sure you outwork everyone.
7. POOR MAKES NO SENSE
I have been poor, and it sucks. I have had just enough and that sucks almost as bad. Eliminate any and all ideas that being poor is somehow OK. Bill Gates has said, “If you’re born poor, it’s not your mistake. But if you die poor, it is your mistake.”
8. GET A MILLIONAIRE MENTOR. (The Legends Network)
Most of us were brought up middle class or poor and then hold ourselves to the limits and ideas of that group. I have been studying millionaires to duplicate what they did. Get your own personal millionaire mentor and study them. Most rich people are extremely generous with their knowledge and their resources.
9. GET YOUR MONEY TO DO THE HEAVY LIFTING
Investing is the Holy Grail in becoming a millionaire and you should make more money off your investments than your work. If you don’t have surplus money you won’t make investments. The second company I started required a $50,000 investment. That company has paid me back that $50,000 every month for the last 10 years. My third investment was in real estate, where I started with $350,000, a large part of my net worth at the time. I still own that property today and it continues to provide me with income. Investing is the only reason to do the other steps, and your money must work for you and do your heavy lifting.
10. SHOOT FOR $10 MILLION, NOT $1 MILLION
The single biggest financial mistake I’ve made was not thinking big enough. I encourage you to go for more than a million. There is no shortage of money on this planet, only a shortage of people thinking big enough.
Do you agree? Does one of these steps resonate with you the most? Are you currently on a journey to create your first million? Even if you don’t reach it by age 30, it’s never too late to go after your dreams!
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I have been a hustler all of my life. I love sales and love people. My biggest passion is hooking up my product with the person who will truly benefit from it. Network marketing, is no different. The trick is to find people who are looking for an additional income stream and then have them ask you about your opportunity.
The method of doing this is called “Attraction Marketing” and it has become a key strategy for growing large network marketing teams. Why, because it is more of a sincere, non-threating way of attracting people to your business. Let’s face it, people can detect commission breath from a mile away and the minute they think you are pitching them they are not interested.
There are many ways to attract people to you, however the method vary depending if you are concentrating on offline or online marketing of your business. Below I have several tips on attraction marketing that are very basic and can apply to all type of network marketing.
1. Be positive
It’s a fact, people are drawn to people who are upbeat and positive. They don’t want to be connected with someone who is pessimistic. So avoid being one. You have to have a positive attitude about life and you will find people coming to you.
2. Be confident, don’t doubt yourself
You have to be confident in everything that do. Why? It is because people do not like investing their trust into someone who is not sure on things that he is involved in. You have to know your business inside and out and be able to confidently talk about it. Let’s face the fact that it is the confidence that sells.
3. Have a servant attitude
One of the most attractive characteristic that will stand out from the rest is having a sincere attitude to help others. So show other’s that you are willing to help and do those little things that mostly others won’t do. It will go a long way.
4. Know how to contribute
Being a contributor is like offering more value to people than what you are asking for in return. The best thing that you can be known for is being a generous person and not someone who always ask for something in return. Doing so, you can easily be respected and trusted by others.
5. Be honest
This is a simple one because people are always looking for someone who is honest. If you want others to be attracted to you and your business, you have to show and express honesty. Nobody wants to work with neither scammers nor dishonest people.
If you use these simple strategies into your daily interaction with people, you will see that attraction marketing will work for your business.