How To “really” Build A Network Marketing MLM Business
I believe that when you know what to expect, it’s a lot easier to push through the process, and when you know the result you will work through the process in a calm professional manner.
So I’ll tell you flat out, you’re going to work hard in the beginning months for what seems like very little return. This is normal, and everyone who has succeeded in MLM has gone through this same process. I’ve been working from home since 2003, have talked to hundreds of MLM leaders, and not one to this day has told me they were an over night success.
So don’t sweat it, just know that as you start to build a network and get them trained to duplicate your efforts, in the end you may feel guilty about cashing those big checks for doing so little work. Trust me, it’s worth the hard work in those beginning months.
So here they are, the 3 main methods to building a network marketing MLM business.
1. Warm Market
Oh I know, the dreaded warm market, make your contact list and start pitching Aunt Sally and Uncle Joe, right? Well believe it or not, this method still works today, if you have the contacts, and are ready to work extremely hard.
The one favorable aspect of using this method is that it’s virtually free. Other than the cost of maybe your website and some physical tools you can build a network marketing business using your warm market for almost nothing.
Here’s the golden nugget though. Most people contact 8-10 people they know and maybe enroll 1 or 2. In most cases they enroll zero. Instead you need to simply think of your warm contact list as your starting point. Instead of hard pitching your MLM, ask them to do you a favor. You just started a brand new business and are building your contact list and would appreciate their help in getting a handful of names, phone, and emails.
After you get the referrals, you say, oh by the way, you may not even be interested, but here’s my website if you’d like to see what I’m doing. Then you contact the referrals and mention your common friend and do the same thing.
Without writing a book here on the exact thing to say, I think you get the idea. You can NEVER run out of new people to share your MLM business with if you take this extra step and ask for referrals.
2. Purchased Leads
This is where I started. I did however share my MLM business with my warm market and I think you should too, but don’t rely on just your contacts. You have to always think about expanding your reach.
Purchasing leads is essentially the same as the above method, but maybe a little more targeted, a lot less work and of course there is a cost to it. There is a lot of great training available on prospecting so I’m not going to go into great detail here. But the bottom line is if you’re going to spend money on quality mlm leads, you better take it seriously and get yourself trained and improve your prospecting skills.
The same rule applies here though. I know some top network marketers who have made tens of thousands of dollars using purchased leads. But they all had one thing in common. They got really good on the phone, and spent a lot of time smiling and dialing. Myself included in the early days.
The golden nugget to this method other than prospecting is to be consistant and never go into lead poverty. At a very minumum you should have at least 2-3 new leads daily that have actually looked at your mlm business and you are following up with.
As a side note, the method of purchased leads also includes magazine coops, sizzle cards, flyers, newspaper ads, or any other form of advertising that you spend money on to produce a lead.
3. Attraction Marketing
Attraction marketing is nothing new, but for some reason it has eluded most for many years. The concept of attraction marketing is to let the people come to you, instead of you chasing them. In other words, you become the hunted instead of the hunter.
For this method you brand yourself as an expert first, and present your mlm business second. It’s easy to become an expert on a subject too. By reading a few articles like this one, or a few audio trainings you will know more about the subject than 80% of the population.
As you learn more, you become more valuable, thus atracting higher profile networkers to you automatically.
By using an attraction marketing system you can completely automate the mlm prospecting process, and start to sponsor high profile mlm leaders. Or at the very least you’ll attract people who are actively wanting to learn how to build a network marketing business.
Another critical aspect to an attraction marketing system, and this is probably the golden nugget of this method. You can actually earn money on the 95% of prospects who say no to your mlm business. This is an important factor as it allows you to earn multiple streams of income to offset any advertising costs, and just earn more money in general.
Attraction marketing is how all of the top leaders have built their networks into the thousands, and in some cases tens of thousands. Even before the internet, those who were up on stage speaking and sharing their knowledge were the ones earning the big money in mlm.
The good news for you is, the internet allows you to become an over night expert with information at your fingertips, and the ability for people to seek you out quickly and get to know you online, even while you’re sleeping.
-Leading the Elite