We’ve seen data saying as high as 97% of MLM Distributors will fail. In reality, most quit short of their goals, and could have continued with a few adjustments and some good coaching.
But in life, it is a fact that most individuals will fail in most everything they try. The only real victorious MLM distributors are the ones that just keep going until they finally “arrive.” In inventing the light bulb, Thomas Edison needed to “fail” over 10,000 times. He believed there was no failure, only feedback.
However, there are some things that a new MLM Distributor and his or her sponsor should keep in mind and some things that need to be acomplished to lessen the inevitable failure probability. Here are a few:
Choose the right MLM company in the first place. Countless MLM distributors have been “sold” on the latest and greatest product, company, and or MLM superhero only to be let down by business failure in the company they so carefully selected. Corey Augenstein, creator of MLMInsider.com, and a student of the industry recently remarked that of the universe of hundreds of MLM companies, only about 30 could be even considered for his annual “best companies” review. A good starting point for research is MLMInsider.com’s annual top 10 best companies review.
Get the right teaching and leaders. Training in this industry should not be developed by “experts” who have never been successful themselves. Look to teachers and guides who have an impressive track record and string of accomplishments. But consider also, that not every successful distributor is good at training his recruits. What is the track record of his or her followers? Before selecting your company, check out your new “sponsor’s” background and accomplishments, and those of his own “team.”
Get serious about personal development. The MLM industry can be challenging for some, if not most people. Nearly everyone coming into the industry needs to “adjust their thinking” to get clear about their own belief systems. A highly prevalent paradigm is the “employee mindset,” in which most distributors and their friends/family have been well endoctrinated. How many new distributors’ dreams have been smashed by well-meaning friends and family giving them the advice to: “get a real job,” or “that will never work?”
Get a system. It is crucial to have a systemmatic method for any business. What are some tools used by others to steer toward their accomplishment? Find out and lay hold of the best tools and systems that are available.
Don’t always pay attention to what the MLM company advises (or at least do so with a grain of salt). Recently we heard guidance from a major company to be “well armed” with some recent company news and dressed with the hottest company logo gear during holiday get-togethers with family. Although this may be good in some cases, we have encountered too many times when this manner of “in your face” approach has back-fired. Just be certain you are tactful in sharing only information that is their interest. Or as sales trainer Tim Sales suggests, be more interested in your “prospect,” than in sharing interesting news about your company. We suggest a low-key, low-profile approach, as taught by sales pro, Tom Hopkins. This is usually true with friends and family, who often don’t want to be your “prospects” again during holiday and family times.
Sticking with it is vital for success in MLM (or any venture for that matter), But in order to increase your probability of success, follow these few suggestions and your chances will improve dramatically.
Jim Green has 10 years experience in the network marketing industry, as a trainer and coach. Visit his MLM resources blog for additional ideas, free training, and a test drive the leading automated MLM lead generation system.
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