Making Money In MLM
How serious are you about making money in your MLM business?
If you are just a wholesale customer or you are making your MLM a hobby than this blog post isn’t for you.
If you are serious about making at least some income in your MLM business, then you should be focusing on 1 thing: Income Producing Activities.
Income Producing Activities
This is simple and just makes sense. There are 2 types of activities in network marketing. There are the ones that make you money and then there are those that don’t.
Most network marketers focus on the actions that don’t make them money. They focus on on knowing their comp plan or studying the science behind their product. They focus on scripts for prospecting and giving a presentation. The main problem about this behavior is that it tricks the network marketer into thinking they are “working” their business when all they are really doing is procrastinating.
Instead of focusing most of their time on the non-income producing activities, they should be mostly focusing on income producing activities. The most important income producing activity is prospecting.
Prospecting can take on many forms.
-3 foot rule
-talk to your warm market
-message people on social media
-call a friend
When you focus on prospecting then at least you have a fighting chance for success. If you focus on learning the comp plan, you have zero chance of making ANY money.
Focusing on studying scripts or learning the compensation plan instead of income producing activities like prospecting tricks network marketers into procrastinating instead of taking action.
Many network marketers end the day with a sense of satisfaction thinking that because they spent some time learning about their product or watching training videos they have “worked” their business when in reality they aren’t any closer to making a sale than they were when they started the day. Their false satisfaction will end up in frustration.
The 75% Rule
At least 75% of your time should be spent doing income producing activities and the other 25% should be spent doing the other stuff. That means if you only have 1 hour a day to work your business, then you can’t spend 25- 30 mins watching a training video. You only have 15 mins for training. 45 mins should be spent trying to get people to see a presentation.
If all you did was take 30 mins each day and talked to 5 people and invited them to see a presentation, you’ll be doing more than 90% of network marketers. I want you to notice something. You only have to invite them to a see a presentation. You could 5 nos and many days you will get 5 nos but that is ok. This truly is a numbers game. At the beginning you will be terrible at prospecting but you’ll get better with experience. If you have been prospecting 5 or more people each day for a month and you still haven’t gotten any one to say yes to at least looking at a presentation, then you should have a look at improving your skills.
Action gets more done than thought.
Until then prospect, prospect, prospect.
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