The cold hard fact is that 95% or more of those who attempt network marketing (MLM) fail miserably. On the other hand, there are certainly many who do achieve success, and sometimes succeed massively. What do they know that enables them to eliminate MLM failure? What do they do differently from the vast majority?
Here are the four key elements of a proven success model for eliminating network marketing failure:
1. Choose an ideal network marketing opportunity.
Select an MLM that offers a clearly great product or service, along with a top level support system, and one that has proven “staying power”. There are literally thousands of MLM opportunities out there and it is essential that you conduct thorough due diligence measuring against these essential criteria of “must haves” for the opportunity you finally select:
The actual product or service offered must be of critical need and in very high demand by a large number of people.
The actual “value proposition” for the offering must be clear and indisputable.
The tools and training needed to support your selling and team building efforts must be exceptional and easily accessible.
The commission plan must generous. A good example is one that is structured with a minimum 50% commission on first order direct sales that you make and at least 20% on recurring sales. You should also get a minimum of 20% matching commission on direct sales by your direct recruits plus 5% of all sales from those in your downline network.
Finally, choose a company with a proven long term track record for delivering clear value and service
2. Do not expect to “get rich quick”.
This just does not happen in real life, regardless of the sales hype. Just as for any business, network or distributive marketing requires very hard and smart work. Expect to put in a lot of time as well as up front monetary investment to get your feet on the ground.
3. Never expect “spillover” to make you money.
So many opportunities, or those who promote them, hype the “guarantee” of profits or the passing down of profits from those who have recruited you to make you money. While this can happen in a very few cases, you will certainly fail if you expect it to happen in yours. You must expect to rely entirely on your own personal marketing efforts, and the effectiveness of the organization that you recruit and personally train to achieve any significant monetary success.
4. Select an upline sponsor whom you have come to know, like and trust.
When you join a new opportunity, or start a new business venture, it is essential that you have a mentor in whom you have confidence, and from whom you can expect to get high value training and consultation. Always make personal contact by phone, or via audio video conference before your final decision to find out exactly where you stand in the mind of your sponsor. Network marketing is exactly that, marketing through a network. Your personal network will either make or break you.