In today’s economy and digital world, you would have to be oblivious to not see or be somewhat familiar with network marketing. Network marketing, also known as multi-level marketing (MLM) is often a low-cost and high upside business model that can make you a lot of money. But what exactly is a network marketing business and how can you find MLM success in 2020 and going into 2021?
What Is Network Marketing?
According to the Federal Trade Commission, the basics of a legitimate network marketing or multi-level sales involve selling products to the public via word of mouth or direct sales.
You may or may not be aware that network marketing is a 150-year-old plus business model. Like any business, it involves patience and perseverance. Did you know with any business, 8 out of 10 businesses fail in the first 18 months? Any business endeavor requires drive and determination to succeed.
Achieving network marketing success is no different. Compared to many other businesses, network marketing involves a lower investment upfront. In fact, MLM can be one of the smartest investments you can make aside from the best way to invest $5,000 in mutual funds.
Whether you are new to network marketing or a seasoned MLM pro, proven success principles will take you far. Here are 8 smart tips for network marketing and direct selling success now.
8 Proven Tips to Achieve Network Marketing Success in 2020
We’re sharing 8 proven tips to achieve network marketing success with top mlm companies. You will learn what steps to take to achieve network marketing success. These tips will help you whether you are thinking about network marketing, new to the business model, or seasoned for years.
You want to be aligned with passion and purpose daily with what you do. You want to love what you do every single day so it doesn’t feel like work. You want time, location, and financial freedom like some of the top 1% MLM success stories you’ve seen on social media.
You have seen success stories with your life in the past, yet you want to get the 411 on how achieving network marketing success may be different or similar. You want to go into this eyes wide open or become aware of what someone didn’t share with you before.
Hint: It is not a get rich quick scheme so beware of anyone that tries to convince you otherwise. Nothing in life is handed to you. Like anything else, network marketing success will take focus, faith, work, and time.
Any network marketing business requires substantial people skills both face to face, and online. Perhaps, up to this point, you’ve only experienced network marketing face to face. Or maybe you’ve heard about the rise of entrepreneurship and network marketing sales for millennials?
The main reason why people quit and don’t achieve network marketing success is similar to why 8 out of 10 businesses fail. There isn’t alignment to the product or company, they don’t put in the work, or they quit.
You want to assess and ask if you are selling something, do you act and look the part? That’s a basic authenticity test and where many don’t measure up.
It is important to point out that building a business takes determination and drive. To achieve network marketing success, you will have to figure out what works best for you, who you are and how you do your business.
This will involve setting up your foundation, stability and growth factors for your business. If you want to achieve network marketing success, treat it like a full-time job. With any business endeavor, the first few years are the toughest.
There is no steady paycheck. There are plenty of naysayers and negative Nelly’s. Everything and everyone will come at you to try and get you to quit especially the people who aren’t pursuing their dreams.
Or better yet, the ones who are broke themselves so they want you to stay broke. The person you have to convince most in any business and network marketing is yourself.
Before you run and sign up with the next network marketing business, here are 8 proven tips to achieve network marketing success in 2020.
1. Assess Opportunity
With any network marketing opportunity, you want to assess the products, the company, and the business opportunity. Are the products proven? Are they accessible? Are they useful to the majority of people?
In regards to the company and the community, you want to research their credentials. Do they have experts on their board of directors? Do they go through an approval process in countries? Do reputable people support them?
Who is talking to you about the opportunity? Do they do business with integrity? Do you trust them? How do they treat you? What is the community around them like? Do they practice what they preach? Are they a leader you want to follow? Are you investing what makes sense? Do they have a product and a refund guarantee?
What is the business model like? Do you get paid on actual results e.g. consumption? Are there rewards at every level? Do you see other people getting results? Did you speak to others and ask them about the work they put in upfront? Did you take a look at the average compensation plan?
2. Who You Are
Network marketing success is very similar to entrepreneurship. It will take a good honest look at who you are. You will get to dig deep with your self-awareness, self-motivation, and self-discipline.
With a typical 9-5, you show up on time and do the work, you get a paycheck. As long as you show up and get your work done, you get paid. With building a business, entrepreneurship, and network marketing success, it takes the same or great levels of effort and discipline upfront without getting the rewards right away.
It takes mental muscle and the ability to delay gratification in any business to succeed. Ask any network marketer, or any “overnight” success story how many times they failed and how long it took them to succeed.
Whether you are new to network marketing or a seasoned pro, get real with yourself. Ask yourself how much work you are putting in daily? How many invitations do you do? How much promotion are you doing? How many people do you invite to sample your product or learn about your business opportunity?
Think about what you love, what you’ve overcome, your natural gifts, and how you want to impact. Then, wrap your network marketing story around who you naturally are.
3. Get Results
Increasingly, people trust you when you stand behind what you use. To achieve network marketing success, it is key for you to first have a product result. This needs to tie to a before and after story. The more authentic you are, the more people will trust you.
The more people trust your consistency and your result, the likelier they will buy from you. The more results your customers get, the more testimonials and social proof you have. The more testimonials you have, the more people will buy from you.
The more you make in any business, the more people will be interested. All of this takes consistency, determination, and drive. It takes showing up for yourself, your team, and your future long before you are making career level income.
You will get to put in the work day in and day out. It is key you look at the business and the average time it takes to get to career level income. You may choose to accelerate this by putting in more work than the average person.
Your current direct sales or MLM company may already track this, or you may ask your leadership. You may learn more about mlm software that helps track this as well.
4. Relationship Skills
Some of us are better than others at people or relationship skills. Take a good honest look at how you relate to people. Do you make friends with people first? Are you a positive person? Do you know what people you talk to care about? Do you offer something of value? Do you create a community?
Do you follow up with people regularly with whatever methods work for you? Do you ask people what they want? Do you genuinely care about people’s results? Are you friendly, yet fun and professional?
The better your relationship skills are, the likelier people will feel safe with you. The more they feel safe with you, the longer they will connect with you long term. As long as you offer something of value consistently, people will keep connecting with you.
Keep in mind everyone has a different risk, learning, and adaptability threshold. Some people will buy from you simply to support you. Some people will use your products and love them. That is typically 80% of your business.
A smaller percentage of people at their perfect timing will choose to perhaps get an upgraded package. Some people will choose to pursue the business opportunity. A smaller percentage will choose to stay with the business and do it part-time.
The smallest percentage of all – the ones that rise to the top 1% – will choose to have career level income that creates time, location, and financial freedom.
These are called the basics of marketing in any business. In any business, it is a funnel. As long as you provide value and remain strong, stable, and grow, trust that with time people will transition from one step to another. People will choose for themselves what they want to be.
5. Master Mindset
Mastering your mindset is the best thing you will do for yourself in anything in life. In network marketing, this is heightened because you deal with so many people. Not only do you deal with so many people, but you deal with people in areas of health and wealth.
These are typically the areas that bring up the most fears, doubts, and insecurities for all of us. This will take a new level of self-mastery for you with self-awareness, self-control, self-belief, and self-discipline to rise to new levels of personal development and leadership.
It takes an average executive 10-15 years with schooling and experience in a corporation, why would we think it is any different to get to network marketing success?
At any point in time, people may choose to put in 10 times, 100 times, infinity times the work of where they are now to be their next level. You have the same choice. There are no limitations. Work for the freedom you want. You put in your work. Be nice to people. At the same time, don’t let others limit you on your quest for MLM success.
6. Set Foundation
In school, we have kindergarten to fifth grade as our typical foundations. In network marketing, this is learning different ways people do the business in your network marketing opportunity and/or creating new ones that resonate with you.
For example, social media at one point did not exist. As a result, it became a new way to do business with network marketing. There are many now that are very successful with this method.
It’s simply a platform to share who you are, create value and invite people to the opportunity.
7. Create Consistency
Chances are you’ve worked a 9-5, received promotions, or even have gotten to executive levels in the past. If you have experience with any of these, there are some basics.
Daily, you perform tasks. Daily, you show up. Daily, you share value. Daily, you promote the business. At a bare minimum, you do these 5-6 days a week. Period. Otherwise, you get FIRED. It’s pretty simple.
For some unknown reason, when some people become an entrepreneur or a network marketer, they seem to think it is going to happen overnight. Hello, you went to school for how long before you got that position? How many hours and how many things did you do before you got the promotion?
How many 50, 60, 70 hour work weeks did you have before you became an executive? How many late nights did you have before the promotion came? Whatever network marketing opportunity you are in, the same applies. YOU PUT in the WORK first.
Ask yourself are you really putting in the work like the executive you say you want to be whatever your marketing plan is? The more consistent you are, the more people you share the opportunity with, the faster your results will come. Make a decision about what you will do daily for an hour to three hours to start.
Then, think of ways to leverage social media, technology, and people. Then, think of more ways to create value, connect with more people, and leverage technology. Rinse repeat.
To be an executive, think and act like one. Like Jim Rohn said, ‘Learn to work harder on yourself than you do on your job. … your job you can make a living, but if you work hard on yourself you’ll make a fortune.”.
8. Stay Accountable
You want results in MLM, be and stay accountable. In the beginning, this may be a product result. Then, if you decide to learn more about the business opportunity, you want to plug into community calls and events. You want to get on these network marketing and direct sales calls and meetings weekly.
It is no different than a mastermind you may have paid hundreds to thousands of dollars in the past if you want to grow, stay accountable. Just because the calls are free, don’t discount that there are millions to billions of dollars of information being shared from people that are earning in the top 1% in network marketing.
If you are serious about growing and getting in the top 1% in network marketing, calls and events are non-negotiable. If you went to school or got a degree you wouldn’t get a degree without passing the class. So, why would you or anyone think you can pass without going to the “schools” of network marketing. That’s a reality check for successful network marketers.