First Year in Network Marketing - Learn How to Make a Success of it
If this is your first year in network marketing then you are probably very excited about reaching the rebate levels offered by your company’s compensation plan.
When you are first introduced to network marketing it is natural to feel skeptical about the business model and how it works. It can look too good to be true and in some cases you may wonder if it’s even illegal.
By the time you have been sponsored by someone, most of the skepticism has gone and you have a basic understanding of how the mechanics behind the money making works.
You realize that your next main goal from here is to start building your business, so you too can begin receiving those handsome monthly cash rebates.
If you have been to the weekly/monthly seminars or workshops which are organized by your Network Marketing company, then you would have most likely been convinced that it appears to be quite easy to sponsor prospects into your down line.
However, the road from here isn't that simple and goes a little more like this…
First Year in Network Marketing – Your First List of Prospects
It has been about a month since you were first introduced to this business concept and you can’t wait to start earning your own monthly cheques!
The number one thing on your mind is to SPONSOR, SPONSOR, SPONSOR.
Why? Well, you know why. You want to expand your down line into a large team so your business can generate a reasonable turn over in products, where you will then be recognized for your efforts.
The first thing you are taught is to approach your ‘warm circle of prospects’, otherwise known as family and friends. This entails writing out a list of everyone you know, including acquaintances too.
Most up line will tell you to press your opportunity on your family and friends mainly because you have credibility since they have some level of trust in you.
If this is your first year in Network Marketing, then this is easily the most common advice you will hear.
There are a couple of things wrong with this advice however. Your family and friends will never be enough to help grow your business into a size adequate to meet your financial goals.
Why? Because it is very unlikely that they are looking for a business opportunity too! Did that ever cross your mind?
Just because you are doing something doesn’t mean they will follow you. Sure, you will have some families and friends that will support each other, but the majority of the time this rarely happens.
In addition to this, you will find that you will run out of people to hopefully prospect. Now, you don’t want to go through your list again and annoy all of those people like you did the first time did you?
You will be surprised how often you are told to go through your list again. Please don’t waste your time doing this, it’s not nice to do this to your close circle of friends and family. More importantly, save yourself the rejection.
First Year in Network Marketing – Replacing Your Burnt Out List
Once you have ‘filtered’ through your friends and hopefully after your efforts you have sponsored one or two into your down line, you will be advised to try and gather the contact details of yours friends and family’s acquaintances.
The main reason behind this is because your first list of potential prospects has run dry and you need to replace it. I don’t particularly like to employ this strategy, to me it’s not good business conduct.
People who have been in MLM for a while see this as the norm, especially if these are the only prospecting techniques they use. I see these methods as ineffective and extremely bad for one's morale.
Imagine asking for a strangers contact information and then making a cold call to that person, they will have no idea who you are or what you are talking about when you are telling them about your opportunity.
This is no way to do business in an effective and efficient manner. It is easy to see why so many people who are in their first year in Network Marketing fail so badly. They never stood a chance, even from the very start when their up line gave them the first piece of advice.
First Year in Network Marketing – Cold Calling
After you have been prospecting for a while and you have lasted longer than the three month milestone where a large number of new comers quit, you might be advised to do some targeted cold calling to generate
MLM phone leads.
In a way, this is better than when you are working with a list that has been created by asking for personal details of your friends’ acquaintances.
If you are cold calling someone who has a remote interest in a business opportunity, such as a small business owner, then your chances of sponsoring a prospect becomes much greater.
Overall, even though this method is endorsed by many seasoned Network Marketers who’s range of prospecting techniques can be limited when it comes to effectiveness, cold calling can pull good results if done properly.
First Year in Network Marketing – Become a Success!
Right, now that you are well aware of the pattern that most people experience during their first year in Network Marketing, it is time to briefly introduce you to a much more effective approach to building that down line of yours.
As a newbie, in MLM it is very unlikely that you will be taught the importance of sales and marketing, even though Network Marketing heavily relies on these skills.
The next step from here that you need to take is to learn the basics of sales and marketing, and how you can use it to generate leads for your MLM business, which come to YOU, asking YOU about your business opportunity.
There will be no more chasing that illusive prospect around, it is time that the prospect came to you. Sounds exciting doesn’t it?
Well, let’s get you started by heading over to the
area of this site.
You will find more than you need that will change the way you do business so you can start attracting your own prospects.
Let’s make your first year in Network Marketing a successful one!
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