Now that you’re all signed up, excited and ready to build a thriving Network Marketing business, it’s time to consider exactly what you need to do in the first 30 days to turn a profit.
In the Network Marketing Industry, there’s basically 2 ways to generate an income. They are:
1. Retail Sales
Although there are several steps involved in each process, we are going to focus on what you need to know to turn a profit in the first 30 days of building your Network Marketing business.
#1) Retail Sale
When you initially attended your Network Marketing company meeting, or was exposed to the opportunity, there was obviously something that made you a believer in your company and what they have to offer.
Whether it was the compensation plan, the products or just the culture, you found something that you felt you could share with others to help impact their lives like yours was impacted.
When it comes to sharing your product and gaining customers, your passion, belief and enthusiasm are critical. However, there are a few additional elements that you MUST consider before racing off to spread the word about your company and their products with the world, which are:
A. What need does your product serve?
B. Who wants what you have to offer and are ready to buy it today?
C. Why do they want it? (What benefit will they get from owning and purchasing your product?)
D. Why should they buy it from you?
As convinced as we often are about the benefits of our company products and how everyone could benefit from them, you still want to consider the needs of your potential buyers and how their quality of life will be enhanced because of buying this product.
Network Marketing is a sales business, and in order to retail as many products as possible, you have to implement the sales process, which is:
A. Build a rapport with your potential customer
B. Ask questions to create a need
C. Listen intently
D. Share how your product will solve their problem
E. Get the commitment and Seal the deal
The more conversational you become with your prospects without trying to “push” the sale on them, the more you’ll find them closing themselves on the products just by asking them the right questions and allowing them the freedom to talk and share with you exactly what their hot buttons are that you can sell them on!
The true leverage in building your business is in building a team of people who duplicate your efforts, while increasing the volume and profits of your organization. This is often the most feared aspect of the business because we often associate our “new recruits” with family and friends that we assume are going to dodge us at the next family gathering.
Recruiting however, can actually be the most exciting part of the business if you “change your mindset” about what recruiting really is. Although you have personal numbers and goals you want to meet so that you can earn a nice paycheck, recruiting shouldn’t just be viewed as a payday. It’s actually an opportunity to impact and change someone’s life, while opening a door for them to discover financial freedom and a whole new way of living.
There’s so much more to joining a Network Marketing business than making money. Of course that’s a critical part of why people join, but there are also the benefits of connecting with positive people, enhancing your personal development and learning your strengths and weaknesses. There are also opportunities to go to places you never imagined, and even potentially work for yourself fully, without ever going back to clocking in at a 9 to 5.
The minute you can learn to interpret the benefits of your new “Millionaire Fraternity or Sorority”, you will find that people are dying to go with you to the next meeting, just to meet some of the inspiring leaders that you’ve been boasting about.
To recruit effectively, share the benefits of being connected, rather than forcing them in for a paycheck. They will be able to see the difference, and you will too when it comes to your paycheck!