Top 10 Mental Tips to Thrive and Profit in Network Marketing
Most people fail in Network Marketing because of their Mindset. Find out the Top 10 Mental Tips to Thrive and Profit in Network Marketing.
Network Marketing is not just an action-based profession, where you generate leads, it’s also a mindset game, and the more elevated your mindset is, the quicker you can thrive and profit. Here’s the Top 10 Mental Tips for MLM:
1. Becoming Inspired by your product or service
The biggest driver to your success in MLM is to actually use the company’s products or services and love them.
One of the most powerful tools to use in promoting your business is to create a personal testimonial of what it’s done for you.
The leaders in network marketing usually blog or shoot video on their experiences, but stay away from just hyping the products and tell their personal experience.
These stories usually tell a transformative experience with the product, which makes people want what you have.
No one cares if your product has Omega 3’s. They want to hear how you feel, because they basically want to change how they feel also.
This testimonial also solidifies a commitment for the distributor or customer. They are less likely to quit during hard times in the business when they have such a strong experience with the product.
2. It’s a Business, not a Hobby
Most distributors in Direct Sales make little money, because they are doing it a few hours here and there like a hobby.
But, once they develop a belief of the power of this business and it’s earning potential many step it up and treat it like a business.
This means full time, or any free time outside of their job to build it.
People that make this shift from hobby to business begin to educate themselves with all the skills necessary to become successful and attend all company webinars and events.
They also implement the best methods to get Leads and quality prospects.
They fully commit to learn their new profession. It takes 120 semester hours and 360 to 720 hours of study to get a Bachelor’s degree and a Bachelor’s degree barely gets a student an entry-level job.
If people in network marketing put 360 to 720 hours of study into their Profession they would more than likely succeed, but many don’t because they don’t fully believe in it yet.
3. Recruit People who are “looking”
Many new distributors are excited about their business and run out and try to sell their family and friends on the idea. They are then rejected by their loved ones and quit.
New distributors do not usually know how to talk about their business yet.
This is the equivalent of someone thinking they can jump on a car lot and sell a Lamborghini without any knowledge of that car. Enthusiasm alone will not work.
What’s even more counter-productive is that most family and friends aren’t interested in your life-changing product and don’t want to build a business.
Or they agree to join you because they love and support you, but secretly don’t have any desire to do anything.
The better thing to do is to tap into the millions of people online who are looking for an opportunity, or hang fliers and newspaper ads for offline marketing.
This is called “Attraction Marketing” and sounds exactly like what it is, “People are attracted to your offer and seek you out.”
When people seek you out you don’t need to feel pushy or sell anything to anyone. The people that find you first are motivated because it was their idea, not yours.
The most powerful motivator is someone believing it was their idea.
4. Building Posture
Confidence in your ability to promote your business is crucial for success. If you don’t have confidence, it will show and people will say no.
The best way to build confidence is by believing in the product or service (testimonial) and by mentoring and learning from the leaders.
Posture also means you aren’t desperate for people to join your business. People can smell desperation.
You want the attitude of “I’m going to build this with or without you, but I prefer building it with you. . .”
Your business is important to you, and you don’t need to rush out and throw it in anyone’s face.
Posture is about staying focused on your objectives without worrying what others think.
Like Kobe Bryant, you’re going to win the game whether you get booed, feel sick, or the other team his heckling you.
Be laser-focused on the end result you want, ignore the white noise around you.
5. Handling Objections
By prospecting large numbers, you will run into people that raise objections. Every objection has a proper technique to disarm the prospect with the right education.
If the objection is just rude or has a “lack” mentality behind it, you have the choice to not pursue them.
This is your business and you have a choice of who you want to work with.
This is a partnership that can potentially last the rest of your life, you don’t want to work with people that hold you back or bring you down.
If the objection does seem sincere, try to pinpoint it by asking questions. Keep asking “why” until the real problem is revealed. Then, provide solutions to their worry. If they keep objecting, cut them loose. There’s too many fish in the sea.
6. Going through the Numbers
Building a successful network marketing business is about showing your opportunity to thousands of people.
When I first joined my MLM I thought every Lead would upgrade to paid member. I eventually realized that my conversion rate was 1 to 2%. That means out of a hundred people, only one would upgrade.
At first these numbers depressed me, but then I was also glad that I knew mathematically what I needed to do to get one new distributor.
There’s power in numbers and although you may start out getting one or two leads here or there, like I did, eventually you learn the marketing techniques to bring in a hundred Leads a day.
Going through the numbers means not expecting anyone to join, even if you have a thousand Leads.
It also means to keep recruiting and never stop, even if you have a large team because they copy what you do. If you stop recruiting, they stop recruiting and your business comes to a halt.
7. Stop Looking at Results
One of the most maddening, counter-productive things to do in this business is look at your business stats every ten minutes.
I remember logging on every hour in the beginning and worrying why I only had a 100 views instead of 232 like I did the day before; this just drives you crazy and if you want those numbers to look better, start producing more content and value for people.
The results will come the more you put out there. This can take a couple years, especially with Blogging, but the results are automatic Leads 24/7 and a top position and praise within your company.
8. Detaching from people who leave
I forgot who said this, but your business is like a train. People will hop on board and ride a little ways and get off. Others will ride a little further, and some will take your train all the way.
Sometimes people who you thought would be great at the business quit, and the ones you thought would fail, go on to be successful.
Mark Yarnell talked about having a doctor in his business and a guy who lived in a small trailer in his business.
He thought for sure the doctor would be wildly successful, but he quit in three months and the guy in the trailer went on to make millions.
Never prejudge anyone.
People had assumptions about me and I’m still here and they are gone.
People are going to quit no matter what. The thing to do is keep recruiting new people and they will naturally sift through and become quitters or winners.
Yes, a leader or two might even quit to join the next exciting MLM opportunity, but don’t fall for it. Stay the course and new leaders will join you.
9. Mastermind & Events
One of the most exciting and enthusiasm-producing things to do in this business is attend company events.
Many people that have changed from hobbyists to pros said they made the switch by attending a big company event.
Masterminds are also great for building a strong community that promotes self-growth and networking ideas.
It’s hard to quit your business when you have a few leaders looking out for you and caring that you succeed.
10. Grass is not Greener
Most distributors quit because they joined with false expectations, or they were misled by a marketer who lied about the numbers.
Without proper guidance, a new distributor will feel that they were left behind or just another number and within 3 to 6 months will just quit.
Another huge lure for new distributors is a new company opportunity. This is the “grass is greener” trigger.
They are all over the internet and some are very tempting, but if you are not making money in the one you are in now, you will not make money by moving to another company.
It doesn’t work that way. A successful leader could move from one company to another and make it work no matter what, because they have a mindset of a leader.
The best thing to do is work on yourself and success will happen. There is no magic solution or better wealth opportunities by just switching companies.
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Thanks for reading!
Erik Christian Johnson is a full-time blogger, self-development advocate, and full-time network marketing Entrepreneur.