by Kiran Sambih
You may be aware of the Pareto Principle, which is the 80/20 rule.
The rule is universal! Such as 20% of the population earn 80% of the wealth. 80% of your sales come from 20% of your sales staff, and so on, and so forth...
Let me tweak this a little bit... a more realistic approach to this principle, say for example in the MLM industry, is the 97/3 rule.
Only 3% of Network Marketers will make a full-time income from their businesses, it's a sad statement, and you need to do everything to ensure you are within the 3% who succeed.
Here are 10 factors to ensure you are within the 3% who are succeeding in their MLM Home business:
1. Desire To Succeed
It's no surprise that the great Napoleon Hill states that DESIRE is the starting point of all riches.
My guess is that you are in the MLM home business to have freedom to do what you want, when you want and achieve complete financial freedom with it.
This goal must not be a wish, hope or want, it MUST be a pulsating burning desire. Only when you have a burning desire for a particular goal, great things will start to happen. You are in the perfect mind-set to move forward...
2. What is your "WHY?"
Your "Why" is an extension to Desire.
Why are you in the MLM business? Is it for more money? More freedom of your own time? Escaping the Rat Race? Whatever your "WHY" is, be sure its so strong, that it will serve you in the tough times.
So many people quit in business, any business. Part of the reason is they didn't have a strong enough "Why" to succeed.
If you have a strong enough "WHY", it will help you break down the barriers and achieve greatness...
Now we have Burning Desire to succeed and a strong "WHY", its time to move onto...
3. Adding Value to your Prospects
The MLM Home business is not a selling business. It is a people business. You train and mentor your leads and potential prospects.
You must add value to your leads, prospects and down-line. You can do this by offering weekly training seminars, valuable information on how to run and successfully market an MLM home business, and pass on your OWN experience and knowledge to your prospects and down-line.
When you do this, you're instantly adding value to your target market, and they will be in a position to duplicate your business strategy and follow the path to success.
If you're a newbie, you may ask, how can I add value and train others when I am just starting out myself?! This takes us onto the next factor...
4. Get Educated!
Invest in some personal development books, Internet marketing books, MLM books, attend teleseminars for Home business, participate in MLM forums, and learn off those already in the industry.
Spend some time investing in your own knowledge. And everything you learn, put it into ACTION!
The more you learn and ACTION your knowledge, the more successful you will be in your MLM Home business. This in turn will make you more valuable to your target market, because you have knowledge on how to succeed.
And as you become more knowledgeable with theory and experience, you will start to position yourself as a valuable leader. In this business, people join those who they like and have a system in place that they can duplicate and help them succeed, or those people who are valuable leaders that can help them succeed in their MLM Home business.
5. Systemize
McDonald's is a Multi billion dollar franchise run by high school kids. This is possible because they have a SYSTEM in place.
There are three jobs the employees need to take care of:
1. Customer service
2. Take the order from the customer
3. Train the new employees to provide customer service and take orders.
This is all that it takes. McDonald's system takes care of the rest.
This is why McDonald's has succeeded; this level of duplication has created a such a predictable experience for the customer.
Your MLM home business should be no different.
So, first market YOURSELF (People join people, not businesses), secondly, market your SYSTEM, Thirdly, market your OPPORTUNITY.
So remember, always have a system in place, and market that system to your TARGET MARKET (Other Network Marketers).
Your business will be a huge success if you teach your down-line to follow the system you use to market your MLM home business franchise yourself.
6. Your Front-End Funded Proposal Concept
How can you ensure your cash flow doesn't run dry for your MLM Home business?
Market a front-end retail product (Less than $50) to your leads, which is related to your primary MLM opportunity. This has many benefits, the top two are:
· The retail sales will pay for your advertising costs and other business expenses, so you are breaking even, or in fact actually making a profit. This alone will ensure you don't run out of cash flow for your MLM home business. You will stay in the game in the long run financially to build your business and see the fruits of your labour.
· Your leads that buy the retail product from you will learn something of value, which will help them build a successful business. And, you have built trust, because they trusted you enough to purchase from you. These leads are more likely to join your main opportunity down the road.
7. Build Relationships
As well as building relationships with your leads and potential prospects as you train them to be successful MLM home business owners, you should be networking, and making friendships with other home business owners on a daily basis.
You can achieve this via social networking and adding valuable content to relevant forums.
Build your mastermind of contacts in your industry. You will create great friendships; great business partners, and learn a lot from like minded individuals. You all have a common Desire, and each of you will support one another on this exciting journey.
8. Your Back-End Primary MLM Business
After you have front-ended your funded proposal to your leads and built trust and a solid relationship with your leads, you will want to invite them to join you in your primary MLM home business opportunity.
This will build long term, residual wealth and increase net-worth over time.
9. Persistence, Persistence, Persistence!
Along your exciting journey in the MLM home business world, you will come across setbacks, mistakes, difficulties so on, and so forth. This is why building relationships will aid you; there will always be someone in your circle of friends who can help you.
Your goal here is to keep persisting! Keep persisting in your desire for success, and remember your "WHY." You owe it to yourself to be a success; you only get one shot at life, go and make it happen!
10. Enjoy yourself!
Last but not least, enjoy it! This is a great business, which offers great rewards. On your road to financial freedom, you meet like-minded people, make life long friendships, and you get to help others become a success along the way.
Now that's enjoyment!
About the Author
Kiran Sambih is a Winning Home-Based Business Owner who is dedicated to your success. Sign up for the FREE online 7-Day E-Marketing boot camp at: http://www.WinnersPersist.ws
Also visit his Winners Persist MLM Blog at http://www.WinnersPersist.com that is targeted to help other MLM business owners achieve success in their business.
You may be aware of the Pareto Principle, which is the 80/20 rule.
The rule is universal! Such as 20% of the population earn 80% of the wealth. 80% of your sales come from 20% of your sales staff, and so on, and so forth...
Let me tweak this a little bit... a more realistic approach to this principle, say for example in the MLM industry, is the 97/3 rule.
Only 3% of Network Marketers will make a full-time income from their businesses, it's a sad statement, and you need to do everything to ensure you are within the 3% who succeed.
Here are 10 factors to ensure you are within the 3% who are succeeding in their MLM Home business:
1. Desire To Succeed
It's no surprise that the great Napoleon Hill states that DESIRE is the starting point of all riches.
My guess is that you are in the MLM home business to have freedom to do what you want, when you want and achieve complete financial freedom with it.
This goal must not be a wish, hope or want, it MUST be a pulsating burning desire. Only when you have a burning desire for a particular goal, great things will start to happen. You are in the perfect mind-set to move forward...
2. What is your "WHY?"
Your "Why" is an extension to Desire.
Why are you in the MLM business? Is it for more money? More freedom of your own time? Escaping the Rat Race? Whatever your "WHY" is, be sure its so strong, that it will serve you in the tough times.
So many people quit in business, any business. Part of the reason is they didn't have a strong enough "Why" to succeed.
If you have a strong enough "WHY", it will help you break down the barriers and achieve greatness...
Now we have Burning Desire to succeed and a strong "WHY", its time to move onto...
3. Adding Value to your Prospects
The MLM Home business is not a selling business. It is a people business. You train and mentor your leads and potential prospects.
You must add value to your leads, prospects and down-line. You can do this by offering weekly training seminars, valuable information on how to run and successfully market an MLM home business, and pass on your OWN experience and knowledge to your prospects and down-line.
When you do this, you're instantly adding value to your target market, and they will be in a position to duplicate your business strategy and follow the path to success.
If you're a newbie, you may ask, how can I add value and train others when I am just starting out myself?! This takes us onto the next factor...
4. Get Educated!
Invest in some personal development books, Internet marketing books, MLM books, attend teleseminars for Home business, participate in MLM forums, and learn off those already in the industry.
Spend some time investing in your own knowledge. And everything you learn, put it into ACTION!
The more you learn and ACTION your knowledge, the more successful you will be in your MLM Home business. This in turn will make you more valuable to your target market, because you have knowledge on how to succeed.
And as you become more knowledgeable with theory and experience, you will start to position yourself as a valuable leader. In this business, people join those who they like and have a system in place that they can duplicate and help them succeed, or those people who are valuable leaders that can help them succeed in their MLM Home business.
5. Systemize
McDonald's is a Multi billion dollar franchise run by high school kids. This is possible because they have a SYSTEM in place.
There are three jobs the employees need to take care of:
1. Customer service
2. Take the order from the customer
3. Train the new employees to provide customer service and take orders.
This is all that it takes. McDonald's system takes care of the rest.
This is why McDonald's has succeeded; this level of duplication has created a such a predictable experience for the customer.
Your MLM home business should be no different.
So, first market YOURSELF (People join people, not businesses), secondly, market your SYSTEM, Thirdly, market your OPPORTUNITY.
So remember, always have a system in place, and market that system to your TARGET MARKET (Other Network Marketers).
Your business will be a huge success if you teach your down-line to follow the system you use to market your MLM home business franchise yourself.
6. Your Front-End Funded Proposal Concept
How can you ensure your cash flow doesn't run dry for your MLM Home business?
Market a front-end retail product (Less than $50) to your leads, which is related to your primary MLM opportunity. This has many benefits, the top two are:
· The retail sales will pay for your advertising costs and other business expenses, so you are breaking even, or in fact actually making a profit. This alone will ensure you don't run out of cash flow for your MLM home business. You will stay in the game in the long run financially to build your business and see the fruits of your labour.
· Your leads that buy the retail product from you will learn something of value, which will help them build a successful business. And, you have built trust, because they trusted you enough to purchase from you. These leads are more likely to join your main opportunity down the road.
7. Build Relationships
As well as building relationships with your leads and potential prospects as you train them to be successful MLM home business owners, you should be networking, and making friendships with other home business owners on a daily basis.
You can achieve this via social networking and adding valuable content to relevant forums.
Build your mastermind of contacts in your industry. You will create great friendships; great business partners, and learn a lot from like minded individuals. You all have a common Desire, and each of you will support one another on this exciting journey.
8. Your Back-End Primary MLM Business
After you have front-ended your funded proposal to your leads and built trust and a solid relationship with your leads, you will want to invite them to join you in your primary MLM home business opportunity.
This will build long term, residual wealth and increase net-worth over time.
9. Persistence, Persistence, Persistence!
Along your exciting journey in the MLM home business world, you will come across setbacks, mistakes, difficulties so on, and so forth. This is why building relationships will aid you; there will always be someone in your circle of friends who can help you.
Your goal here is to keep persisting! Keep persisting in your desire for success, and remember your "WHY." You owe it to yourself to be a success; you only get one shot at life, go and make it happen!
10. Enjoy yourself!
Last but not least, enjoy it! This is a great business, which offers great rewards. On your road to financial freedom, you meet like-minded people, make life long friendships, and you get to help others become a success along the way.
Now that's enjoyment!
About the Author
Kiran Sambih is a Winning Home-Based Business Owner who is dedicated to your success. Sign up for the FREE online 7-Day E-Marketing boot camp at: http://www.WinnersPersist.ws
Also visit his Winners Persist MLM Blog at http://www.WinnersPersist.com that is targeted to help other MLM business owners achieve success in their business.
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1 comment:
An insightfull post on"MLM Home Business - 10 Factors to MLM Success".And I would like to say that I'm living my dream of owning my own business and working from home earning equally or more than the regular jobs by using http://debtfreeliving.ownanewbusiness.com.
Thanks,
Jenifer- Working Moms make more
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