If I Was Starting Over in MLM, This is What I Would Do!
Today, I'd like to share what I would do differently if I was starting over in MLM, knowing what I know now. These lessons come from 17-years of experience in this great industry. The five lessons are listed in no particular order.
# 1 I would build my database starting day one.
The first thing I would do differently if I was starting over in MLM would be to build my list. No, I'm not talking about my name's list of people I know. Instead, I'm talking about building my database of prospects.
I would keep track of EVERYONE I ever talked to about the products or business opportunity. This includes people who bought my products, joined my team, watched a presentation, responded to an ad, people I talked with in person, and other network marketers.
I would add their contact information to my database and I would stay in touch with them frequently, at least once a month, to grow my relationship with them and get them to like, know and trust me.
My database would be my most valuable asset in my business. Over the course of five to ten years, you could easily build up a database of 10,000 to 20,000 names, if not more than that.
If you stayed in touch with these people, never used pressure or hype, and focused on building a friendship with them, you would have an ENDLESS supply of prospects for your business.
More importantly, if your company ever shut down, or if you decided to leave your company to join another company, you would have a database of people you can contact.
# 2 I would be a student of my business.
The next thing I would do differently if I was starting over in MLM is to be a student of my business, right from day one. I would learn everything I could about my company, the products and the industry.
I would attend events, listen to tapes and CDs, find a mentor and read books. I would subscribe to industry publications and be a network marketing professional. I would spend 30 to 60-minutes per day LEARNING.
I would treat my business like a profession, just like a lawyer, accountant or doctor does. This means I would work on my personal development to improve my skills and grow myself as a person.
# 3 I would get my mindset right.
This could easily be the most important lesson on this list. If I was starting over in MLM, knowing what I know now, I would learn how to transition from employee mindset to entrepreneur mindset, as quickly as possible.
This means I would:
- Practice delayed gratification
- Be mentally tough
- Not worry about what others think
- Have a vision for my future
- Focus on the future, not the present
- Realize I am building an asset, not trading dollars for hours
- Identify the difference between busy work and being productive
- Create and follow systems
- Humble myself to follow a mentor's advice
- Improve my time management skills
- Develop a business plan and marketing plan
- Be willing to INVEST money in my business and business education
- Learn how to outsource and delegate
Doing these things would help me succeed in the business much sooner.
# 4 I would act like I had ONE MILLION Dollars invested in my business.
The most important thing I would do differently if I was starting over in MLM, knowing what I know now, is treat my business like a million dollar business from day one.
I would not dabble or consider myself a part-timer. I would be all in MENTALLY. I would act as if I invested one million dollars in my business and I had one year to earn it back.
This means I would:
- Be on auto-ship
- Never miss an event or training, ever
- Attend industry events
- Develop a work schedule
- Read network marketing books
- Counsel with my mentor daily
- Plan my work and work my plan
- Have a sense of urgency
- Set written goals
- Develop a written business plan and marketing plan
- Have a daily mode of operations
- Follow the lead of a proven mentor
- Work my business 1-2 hours daily on income producing activities
- Treat my business at least as seriously as I treated my job
# 5 I would join the right company at the right time.
In our industry, timing is everything. You don't know that when you first join the industry, but now you know! Yes, you can succeed or fail in ANY network marketing company, but joining the right company at the right time will shorten your timeline for success.
You want to join a newer company that is not yet a household name. You want to join a company BEFORE it has hit momentum and critical growth. This will make your life much easier.
What is the right company?
- Debt free company
- Sound company leadership with experience you can trust
- A product or service you are extremely passionate about
- A fair and balanced compensation plan
- A SYSTEM for people to follow - the system is the solution!
- A company most people have never heard of
If you can find the right company at the right time, you will be well on your way!
There you have it folks. These are five things I would do differently if I was starting over in MLM, and I knew what I knew now. What are your thoughts? Leave a comment to let me know what you think. I look forward to hearing from you.
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