It’s not even who you know
You’ve probably heard the old phrase, “It’s not what you know, it’s who you know.” A lot of the time that’s true. It’s one of those phrases that seems to be entirely too true. You may have a lot of knowledge, but when push comes to shove, it’s nice to have a friend who will be there to help you.
It’s like when you try to get dinner reservations at a trendy new restaurant. You might have a PhD, but that won’t get you in the door. It would help if you happen to know the maitre d’.
The same holds true for the network marketing industry. Well, sort of. As it turns out, it isn’t who you know that will make you rich, but it is who the people that you know and who they know.
That’s sounds more confusing than it should be. Let’s take a look at it.
If you happen to know 200 people, how many of them will end up joining your business and better yet, how many will be successful? If you go by the industry averages, there may be 3% to 5% of them that could make money in this business. There could be 1% or less that reach the top levels of your company’s pay plan.
If you look at the math, you’ll find that breaks down to 6 to 10 of the people, that you know, could make money and 2 or fewer people could reach the top levels of your pay plan.
Those are not the greatest odds, in the world. If you’re very good at recruiting you might get some or even most of those 6 to 10 people, but if you aren’t, you might not get that many.
Here’s where it gets interesting. An average distributor might recruit 2 or 3 of those people, but what if we approached our 200 people and asked them to help us?
If our 200 people know 200 people of their own, what happens then? Suddenly, our 200 people turn into 40,000 people. I hope you have a smile on your face!
Now the 3% to 5% is 1,200 to 2,000 people who could make money and that 1% is 400 people, that you have access to, that could reach the top levels of your company’s pay plan. You have to like those odds a lot better than what you might get from your original 200 people.
You just have to ask your 200 people who do they know that would be open to this kind of opportunity. You’d be looking for people who are entrepreneurial minded or people who have owned a business before. You could be looking for people who are looking to make some extra money or people who are frustrated with their current job or situation and are looking to make a change.
You can also do the same thing for selling your products. Just ask your prospects, “Who do you know that would be interested in improving their health, losing weight or what ever benefits your products will give someone.”
You can help yourself to grow your business by looking to generate referrals from your warm market. You won’t ever have to talk to your warm market about your opportunity or your products, directly. An indirect approach is simpler for the distributor and less anxiety provoking for the prospects. You can go back to your warm market time and time again. You just say, “Who else do you know that would be interested?”
Remember that it’s not who you know, it’s who they know.
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