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!
If you enjoyed this post please comment and share if you want more content like this
Ray Higdon
Skype: ray.higdon
Email: RayLHigdon@RayHigdon.com
Work With Me – Numis Network
Image: africa / FreeDigitalPhotos.net
PS: If Your Upline Does Not Have a Step-By-Step Blueprint For Success, Check This Out (Unless You Already Have Too Many Leads) – Click Here For Instant Access
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The Snackhealthy "Team United" (Kenny and Christina Hodge; Master Distributors, Bobby Smith VP Marketing SH, and Debbie Stein; top SH Distributor) I'm on told me those things Ray. :0) Anyway, you're right again! I hate that when I have to admit Ray is right! LOL! All kidding aside, Brain Tracy and Ray are right. :00) HF healthysnackmoms.
LOL, what an interesting comment
Thanks Ray,
Reinforcing basic success principles that we should all have been taught from the beginning.
Tom
Another great post!. I was wondering about the LLC thing, so thank you yet again!
I wanted to comment on items 4&5, I don't think it's necessary to set up a LLC or S Corp but it is absolutely necessary to set up a proper business. If you're just starting out go to the local County Clerks office and get a business license either a sole proprietorship or partnership if your a couple working together. Now head directly to your bank and open a business checking account. Having both of those out of the way you'll need to decide how to handle you're book keeping. There are several options such as software like Quickbooks and even some free online options. This does not need to be complicated all you really need to do is record all expiences and all of your income, the rest you can leave to an accountant and if you have a complet set of organized records a tax account can do this for a pretty low fee.
As usual, an awesome post Ray 🙂 I love coming back to your blog everyday..
Nice Ray,
Your daily list always reminds me of the John Maxwell quote “Your success is always based on your daily agenda.”
Hale
Awesome post. Also reminds me of making sure to focus on money-making, business building activities daily; selling to customers and sponsoring reps. Those 2 actions will build your MLM business. Don’t confuse the busy work like checking email 20 times per day as progress on your business.
Once again great post Ray, basic stuff we all need to be reminded of. I’d love to hear your thoughts on how to motivate a downline, how to get them off their butts and start producing….maybe a topic for tomorrow’s post. 🙂
Ray, Thanks for keeping real and simple. These 5 tips will put any new or struggling MLM business owner in the right direction. Keep the great content coming.
Hi Ray,
Thanks for all the value you provide to the MLM community. These are 5 tips all MLM business owners should take to heart.
Bill Solano
I too got a chuckle out of some of these comments. Sometimes, I don’t think people see the forest through the trees. The bottom line, Ray is you always speak the truth and give great advice. I really loved the points you made in #2…people don’t want a drill!!! (That would be a good book title! Hmmmm)
Hi Ray
I would first like to agree with Bill Solano, thanks for all the helpful value you put out to all of us it really is awesome
And of course great post again Ray
Brian
I wish a few more people would understand the value of speaking in simple easy language that anyone can understand – I can't think of anything worse than people who use acromyns and initials instead of using full words that everyone can understand, lol! (just joking)
Thank you Ray for the tips. Very straight forward and simple.
Awesome tips Ray. I agree on point #1, focus on sales! No matter what others are saying,the money that you earn from your business is the true measure of its success.
The difference between an LLC (Limited Liability Company) & an S-Corp (Small Business Corporation) An LLC is only recognized in the state is formed. It is not recognized as a legal entity on the Federal Level. Which means the LLC will need to "elect" to file Federal Taxes as a Sole Proprietor, Partnership or an S-Corp. S-Corp in my opinion is the best way to go for our type of business. You get all the protection benefits of a Corporation, it is recognized as a legal entity on the federal level & all the profits flow through the company to it's corporate officers without the "Double Tax" of a Big corporation..
PS. Ray Higdon Rocks. 🙂
Ray, thank you for this post and all of your consistent teaching (is there a lesson in that?). I requested your Get Rich Routine…it’s obviously working! Again, thanks!
Dr. Z
Great post Ray. Question: How soon once you join an MLM should you register your business?
Ray,
As always, you are spot on. Generating sales should be all of our top priority. Thanks for sharing your wisdom. I am going to bookmark this post.
Chuck
Thanks Tom!
Welcome!
Yes, that is certainly better than not doing anything, I agree with those steps as well as having a company “just in case”
Keep on coming back! Thanks!
Nice quote Hale!
Exactly Chris!
I have written stuff on that before, the main thing is for the leader to keep producing
And also to teach “bottom up” prospecting
Thanks so much Bill!
True! You author you!
Thanks so much Jennifer!
Thanks so much Brian!
Do you feel this post is too jargony? Lemme know
Thanks Dr Kavita!
Awesome, thanks for the detailed feedback my friend!
AWesome Dr Z!
Once you DECIDE to build a business
Rock on Charles!
Great Points – I should re-read these frequently. Number 3 in particular (though really, I need all of them!) Thanks!
Very nice. Thanks for sharing.Always nice to learn !
Just like Mike Dillard Said. "Nobody who bought a drill wanted a drill, they wanted a hole" I bought into a BMW awarding energy MLM company only to realize that it wasnt the solution to the problem I had. Matter of fact it was like wearing a really tight hat on a headache heated head. Yep. Things got seriously, agonizingly worse. Ouch.