Mistake #1 Thinking that MLM is a Sales Business
You can not be successful selling. Instead, find your target market. Find prospects that raise their hand to volunteer, and build relationships with those people. People buy from people they know, like, & trust. You have to build that relationship.
Mistake # 2 Not researching the leadership of your company to ensure they have MLM experience with integrity.
This is a HUGE mistake, often fatal to your online business income. When the management team has NOT built a downline themselves, they never respect you. Companies are nothing without the distributor. If a company could sell their products themselves, they’d just put some hypnotic ad on the internet where people would come buy in hordes.
The majority of those who start an online business want to build it and then retire and enjoy that sandy beach with friends.
However the company has asked their lawyers to come in like thieves in the night and change your contract. The Policies & Procedures have changed with added phrases like “ongoing sales”, “ongoing recruiting,” “continuous”, “regular meetings.”
With phrases like this it is impossible to retire because your contract says that you have to “continue”. Once you stop ordering product or recruiting you cannot retire – even though they’ve hyped early retirement as one of the main perks of their business!
It’s horrifying for most to find out, too late, the company can legally terminate you, if you ever decide to retire. No working no check in the mailbox!
Does that show any integrity? Does that show any respect for the reps who built the company, who brought the business to them from the beginning? NO!
MISTAKE # 3 Not knowing how many customers and recruits you will need to make a residual walk away income of 5K or 10K a month.
It is difficult to set a financial goal if you do not know how many you will need on your team to achieve it. You will never know how hard you really have to work. Any goal set by any rep in any company requires a specific amount of recruits. What is that number in YOUR company? If you don’t know the answer, you do not stand a chance of ever reaching your income goal.
I asked a person not long ago how many they would need to make an income of $5000 a month. His answer was very quick, he needed 2500 people because he knew that he received a dollar for each bottle sold and everyone is on a 2 bottle autoship. The math is this 2500 people x 2 bottles @ a $1 = $5,000 a month.
In the real world of MLM it does not play out so perfectly. First of all, 2500 people … NOT everybody will be on 2 bottles of autoship of anything. Furthermore, NOT everybody will be on autoship. Result…you WILL need way more than 2500 people in the pay plan. Not very realistic!
Once you know the formula, you can apply it to any goal you want.
MISTAKE #4 The wrong target market
When you target people who don’t know anything about MLM (family and friends, and those purchased leads you bought), you will spend far too much time creating a dream, trying to convince them of the opportunity, trying to get them to believe the way you believe. This is a big waste of your time.
Instead find those who already have the dream. It will just make your life much smoother.
MISTAKE # 5 Being totally hoodwinked by every “Get In NOW! Prelaunch! Ground Floor Opportunity!”
It is so very critical to pursue success with a company that has proven it will be around long-term. Pre-launch deals don’t qualify. Only a very small percentage of them will last even 2 years. This is not long-term success.
Michael Dlouhy shares this guide… “Your benchmark should be at least 2 years. It takes that long to knock the cobwebs out of it. It takes 2 years to get their ducks in a row, to get their campaigns together, to get everything approved in different countries, to get warehouses built, and all that stuff. They’ve already survived a lot of the normal growing pains. They have much better long-term prospects than any “pre-launch”. Make them prove themselves by being around 2 years before you commit your time & money to that business.”
Why be the company guinea pig and waste years of failure, frustration and even worse your money.
Choose a company that has been around but is not a prehistoric dinosaur. Again this requires you doing some of your own due diligence.
Building relationships with people is easy and fun;, building a network marketing income from home is fun when you have a technique that works. For more information on researching an opportunity and the leadership, our relationship-building techniques, to boost your network marketing/MLM business and your income, contact us and we will forward a copy of Success in 10 Steps. We will be able to help you with getting started and learning the skills you need.
How can we best help you?
To Your Success
Dave and Darlene Mills
Leadership With A Vision