How to start an MLM
While nothing in any business is guaranteed, especially success, you can stack the odds in your favor. This won’t insure success but, it could give you your best chance.
The first thing you need to do is to go through your distributor kit. Read over the material that your company has provided you. Just don’t read the income disclosure statement. It will scare you. Okay, you can read it but, it won’t be pretty. All kidding aside, you are going to defy the odds! Because you will know what to do and how to do it and that gives you a big head start. You’ll just need to go out and do it.
You will want to know who your company is and what they do. You need to know about the products or services that they offer and general pricing. You DO NOT have to memorize anything. If anyone asks about your company, your service or products, you just need to know where to look up that information. Start reading!
The first thing that all MLMs do is to ask you to write down a list of everyone you know. Generally, you use a memory jogger. It will be a piece of paper with places to write in the name of all those you know or sort of know. There will be a place for your relatives, your co-workers, your neighbors, the milkman, the mailman and Spiderman. This is called your warm market.
Your sponsor will tell you to call all of them and invite them to see your new business. Okay, that’s a recipe for disaster! You will want to use your warm market list to find people who will purchase your products. One of the biggest downsides to selling products through an MLM is that they are generally priced higher than what anyone would pay at the local Walmart. I am suggesting that you go to those who know you and like you, to sell those products? Yes, I am! You should be able to find a relative or two who will want to support you by buying a product or two, each month, even if they are a little more expensive. I hope this makes sense. When your friends and relatives see you building your business and you are increasing your confidence they may actually ask you to see your company’s business presentation.
The second thing that you need is a business plan. Maybe your sponsor has a team business plan but, probably not. They are probably as lost as you are. You need to write down your plan of action. This is not etched in stone. You may wish to change things as you go. Possibly by tweaking things that are just not working.
Your business plan should start out by choosing a target market. You can read about that here. “Who is your target market?” Basically, you will be choosing the type of person that you want to bring into your business. You might choose business owners, self employed people, like real estate agents, or maybe people that you have something in common with. Maybe you are a stay at home mom or maybe an accountant. You could advertise to those types of people. You do “know” them. You know their trials and tribulations.
Network marketing at its core is a relationship business. The process of contacting them goes like this. You will want to make friends with new people. Earn their trust. Uncover their problems and concerns. Then offer them a solution, a chance to join your business. Then, gather their decisions.
That’s really all there is to running a network marketing business. Easy peazy, right?
You will need to pick a way to advertise to them. You will be letting them know that you know what their problems are and have what they need to solve them. This may be blogging, like me. Or you could place Craigslist ads, solo ads, Google PPC (pay per click ads), PPV (pay per view ads) or something entirely different. You may want to advertise to people offline. There are drop cards, fliers or even post cards. You could post notices on bulletin boards around town. Grocery stores are a great place to do this.
Pick one method to get started with. After you feel like you have mastered that, you could pick another one.
This advertising is how you will find new people to meet.
Once they identify themselves as someone who might want to do business with you, you can move them into your marketing funnel. You can read about that here. “What is a sales funnel and why should I use one?”
In a nutshell, a marketing funnel moves these “new friends” through the process of getting them to know, like and trust you. Then asking them to see your business presentation. After that, you just need to get their decision.
Along the way you can monetize your list to offset some of the costs of running your business. The best way to do this is to offer them free, helpful information. This information should be something that will help them in some way. Every so often ask them to purchase a product or service that makes it easier, faster or more convenient for them to implement the information that you gave them for free.
Again, I hope that makes sense!
As you get people in front of your company’s business presentation, you will need to ask them if they would like to join you in your business. Those are the decisions that you will be collecting. When you find someone that wants to sign up with your company, you just need to teach them to do the same things that are doing. It really is as simple as that. It’s not easy but, the process is very simple.
Once you get proficient in the process, it will all come down to being able to generate enough new people to push through your marketing funnel. Choose your advertising method wisely!
Remember that you are not married to any one method of advertising. If you find that you don’t like a particular method, you are not getting the results you want or you are not able to make it work, then switch to a new method.
Success in network marketing is all about duplication. As you get new people in your business you’ll need to train them to do the exact same thing as what you are doing.
That’s how to start an MLM business of your own!
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