Ten Things to Consider Before Starting Your MLM Home Business

By: Ewon Whynes

The following copulation of ten reasons why most people fail in Multi Level Marketing:

1 - Networking with the wrong group of people.

Many People attend MLM business seminars because they were invited by family and or friends. They like the excitement and positive nature of the event. They are so excited about being around the event that they give very little thought, consideration or planning of what it will take to be successful in this type of business and which networks best help them achieve their goals.

TIP - Do your research before joining any networking group or company. Understand what is required of yourself and your commitment to the group or company. Set realistic goals for yourself. If you have never done this type of business do not expect to make a five to six figure income within 30-90 days.

2 - Have an understanding of what success will look like

We join network companies, groups or teams with the view that they will help us build our business but all companies and/or teams are not created equally. Working with the right team and company is very important make sure they have a system to help you become successful.

TIP - Work out the REAL cost of doing business (what will it cost you on a monthly basis to run your business, autoship, if you are in a product base company the cost of the products, do you have to pay for training and any other overhead), then set yourself a challenging, yet realistic return which will justify your investment. How will you reach that return?

3 -Failure to commit

Joining a mlm company and planning strategies is not enough, you have to see it through. It's an old cliché, but you really do get out what you are prepared to put in.

TIP - Make a commitment to at least one year of training, learning the industry which means learning how to present, how to prospect and understanding your product in any network marketing company which is people, so understanding people. Do you know what a shark, dolphin, urchin and whale is? Reds, blues, greens and yellows? When you have an understanding of those people and how to deal with them, your income will fly through the roof. Look at your networking memberships and goals and ask yourself what you have to do to get the results you are looking for. Then ask yourself how achievable it is. If it's too much, adjust your activity to make it more realistic. If it's easy, perhaps you could be doing more.

4 - Do Your Homework

"Fail to plan and you plan to fail". Before you attend a meeting, prepare for it. If you have to give a presentation, know exactly what you want to achieve from it and what you are going to say before you go.

TIP - Diarize your time each week and each month to look at upcoming events and make sure you attend. Develop a system so that you can always put people in front of your events whether it be online, in person presentations and meetings, contact people in advance of these events to confirm attendance. Plan any presentations you may have to give.
The only way you make money in Network Marketing is by putting people in front of your presentation and getting sales.

5 - The follow up process is very important

This is done online as well as offline, not contacting your referrals, if you get a number call it. There is no product, business or service that sells itself, if it sold itself, the company would not need you. If you get a reputation for being unreliable, you won't get referrals. Whether you value the referral or not, follow it up. Even more importantly, make give feedback to the person who gave you the referral. If the referral decides to get involve in the opportunity, this might be the push for the individual that made the referral to get involved also.

TIP - Keep a list to track all referrals received and latest action. If you are not responsible for following it up, make sure you know who is and get feedback from them to pass on. Most importantly, say thank you.

6 - Don't just focus on the sale, but focus on building a relationship

People don't go to networking events to buy. So you have to ask yourself what the point is of trying to sell to people who aren't in buying mode. Think beyond the short-term gain and develop relationships. After all, wouldn't you prefer to get ten referrals from a long-term relationship than one sale from a passing contact?

TIP - Go through your contact management system or business card file and pick ten people to whom you haven't spoken for a while. Re-establish contact and then stay in touch.

7 - Do Not Be a Part-time Networkers'

Many people believe that joining a network and either turning up to a meeting or logging in is enough. It isn't. The most successful networkers meet with their fellow members regularly outside of meetings; whether socially or in 1-2-1 and small group meetings.

TIP - Set time aside in your diary every week to meet people from your network, and make sure you fill that time. Attend your networking group's social events and get to know your fellow members even better.

8 - Do not be 'destructive' rather be 'constructive'

A network thrives on positive energy. If you are in a group that is struggling, use the meeting time to focus on making what you have work, keep all concerns outside the meeting. If you want to contribute to blogs and discussions online, keep your comments positive and constructive, don't destroy other people's hard work with nasty or negative comments. This is a feel good business, your organization stays longer with you if they feel good around you.

TIP - Focus on being positive whenever you engage in your networking. People don't want to buy from or refer to negative people. If there are problems, keep your comments positive and constructive, focusing on the solution.

9 - Do not be a collector

Whether it's business cards at networking events or connections online, there are people who believe that he who has the most wins the game. Networking doesn't work like that. Using social networks (i.e. Facebook) to build a huge contact base and no relationships serves no purpose. Yes, people will see but do you have a clue as to what you are all about.

TIP - Connect with people with whom you have something in common, and talk about them when you connect, not yourself. People like to talk about themselves so give them opportunity to do that.

10 - Have a clear message.

We all think that we communicate clearly what we do, but few of us do this successfully.

TIP - Ask people in your network for their perception of what you do, who for and when people need your help.
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