5 Things Your Upline Won’t Tell You
About Your MLM Business
There are a few things I have learned since failing in 11 different MLM Business opportunities to becoming the number one income earner in mine that I wish I would have known earlier. Today I share 5 of those little known facts that most uplines won’t tell you, mainly because they don’t know.
When Building a Network Marketing MLM Business…
There are only a few things that people need to be skilled at to successfully build an MLM business but unfortunately they don’t get trained in these areas unless someone tells them to.
5 Big Tips for Your MLM Business
1. Focus on sales. One of the most influential books I have ever read is “Ready, Fire, Aim” my Michael Masterson where he describes the 4 stages of any business. IF you are below $1 million in commissions, you need to focus on sales, not picking the right customer management software or designing your impressive logo but getting sales in the door. One way to help this is to have a solid daily routine (you can download mine by entering your information on the upper right hand side of this website)
2. Invest in your people and sales skills. The most important skill you can have when your MLM business is under $1 million in profits a year is the ability to sponsor people. To me the biggest hindrance is not understanding that people don’t actually want an MLM business, they want their problems solved. I had a discussion with one of my MLSP teammates this morning and he had this aha moment this morning, let me share what I mean:
People don’t want a drill, they want a hole.
People don’t want a lawnmower, they want nice grass.
People don’t want ibuprofen, they want the pain to be gone.
People don’t want an MLM business, they want time and financial freedom.
Because so few people invest in their sales abilities they struggle to grasp the concept of being a problem solver versus being a sales person. My latest webinar called recruiting mastery helps people understand how to “salt their prospects food” as well as WHY prospects didn’t do what they said they would do.
3. Get around the people that have the lifestyle you want, and DON’T listen to the opinions of those that don’t. Your brother-in-law thinks you are in a pyramid scheme but his lifestyle sucks? Don’t listen to him. Your upline that makes a ton of money, travels all the time and has the lifestyle you want suggest something? Listen.
4. Don’t spend forever on it but make yourself a business. Don’t go all analytical on me but IF you are in an MLM business opportunity, create a vacuum that has you on your way to making the big money. I have also heard that companies are less likely to get audited. Go to your CPA and tell them you want to setup an LLC or an S-Corp, they can explain the difference (or perhaps someone can comment on this post if they have an opinion.)
5. Track your expenses. MOST of the time early network marketers do NOT do the best job of this but the reality is almost everyone KEEPS more money by simply being in an MLM business than not due to the tax benefits. I recently did a Free webinar on this with tax expert Sandy Botkin that you can check out here.
Most Important Thing About Your MLM Business
OK, so I guess you get 6 tips in this blog (ok if I over-deliver?) The biggest thing is to understand this post is NOT about your MLM HOBBY…it’s about your MLM business, always, always, treat it like a business and give it the respect it deserves to grow into something huge. This way no one person can EVER make you doubt this industry just like no one person could make you doubt a million dollar business you are building. To your success!
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