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If you are new to MLM Industry or a struggling network marketer who is confused about how to grow MLM Income and recruit people, then this post will absolutely help you.
MLM is an open field where anyone can make a trial, but very few people get success. There are several reasons behind failure of over 99% of network marketers. Lack of knowledge and skills are the two prominent reasons.
Most people blame MLM after their failure and consider whole MLM as a fraud industry, which is not true. No doubt, various companies are doing fraud on the name of MLM, but we can’t blame whole industry for this.
MLM is legalize and can make you Millionaire genuinely. But for this you have to work hard and follow a strategy to grow every day. You can’t get success in MLM just a few months after joining. In MLM your income grows in J-curve, so consider MLM as long-term opportunity.
How to become MLM Millionaire in 2020 – Complete Guide
In this post we have written a complete basic guide which you can follow and start your networking journey. This guide will also teach you some basic norms which you have to adhere while doing MLM.
1. Understand MLM & Direct Selling
So the first of all, understand the actual concept of Network Marketing.
Many people consider MLM as a get-quick-rich scheme, but actually it is not.
MLM is a type of Direct Selling Business (other is Single Level Marketing) in which people involve in a pyramid structure and buy company products, which generate profit to company and company share it to distributors.
Minimum 2 to 3 years of struggle requires in getting a decent income from MLM and its success rate is just 0.04% which is even lower than securing admission in IIT.
So, brace yourself to work hard consistently with patience before getting started with MLM.
2. Choose A Perfect MLM Company
It is necessary to choose a reliable and best MLM company, otherwise your network marketing career will move to a wrong direction.
Consider various factors while choosing an MLM company.
Your Target Audience
In MLM you have to do two tasks, product selling and recruitment. According to this, know your targeted audience.
Targeted audience is the people whom you are going to sell your company products or going recruit. If you consider your targeted audience first, it will help you choose a better MLM company.
Understand the requirements and all other things of your targeted audience first.
Product and services are the backbone of every MLM company. So check the products of MLM company.
Compare the quality and price of MLM company’s products to regular market products. In most cases, products of MLM company are overpriced, which is accepted, because MLM company requires more profit to share in the network.
Products should not be extremely overpriced on the name of quality and ingredients used, cause most of Indian population belongs to middle or lower middle class family. And you can’t force someone to buy Mercedes whose budget is of Suzuki swift.
You can also determine the difference between a pyramid scheme and MLM company, by analysing the products.
It is not mandatory for any MLM company to be part of FDSA and IDSA like organization.
Company should not be too old and popular, because if many people already know about your company, then recruitment and product selling process may get more difficult, it is called market saturation.
Upline is also an important factor for your MLM business. Always choose an upline who can teach you MLM.
Your upline should be trustworthy and help you to improve your skills. Never get lure by the leaders who use only motivation and other wrong tactics to build the network.
It is not necessary that the person who introduces you to MLM will be a great upline, so think twice before choosing an upline.
3. Start Learning & Building Skills
After getting incorporated in a reliable MLM company under a trustworthy leader, now you have to learn and build skills to work in MLM industry.
Various people do not focus on learning and start expecting earning from first day, which is not feasible.
So now focus on your communication, marketing and presentation skills. The best way to learn them is to follow your upline. How they sell products and recruit people, just analyze them. Learn their basic tactics of doing MLM and start executing.
Focus on basic things, such as
- How to communicate effectively with unknown people.
- How to give product demonstrations.
- Understand the requirements of your prospect.
- Creating and delivering a powerful presentation.
- Explaining the MLM plan and products features in simplified ways.
4. Make A List
So now the next task is to make the list of prospect. Most of the people here do a mistake, they always write the name of their close friends and family members.
But you have to be careful before making a list. You can promote MLM on 2 basis. First is opportunity, So those people around you who need an income opportunity write their name for plan presentation.
Second way to promote your MLM business is on products basis. Before that, examine the company products and think about the surrounding people who need your MLM company products. If your company has weight loss products, then think about the people who are struggling in losing weight.
It will become easy for you to sell MLM products, because you know the requirements of people and you are fulfilling them.
So make two different lists, one for plan presentation and other is for product promotion. Later, you can show the opportunity to the people who are consuming your products regularly.
Include the people in the list, who can become a regular customer or active downline. One active and hard working downline is far better than hundred inactive members in the network.
5. Be Genuine
After making the list, reach these people for your MLM business. But before that, keep a few things in your mind.
Most people and leaders use the deceptive ways of promotion. They show their products magical, like it will cure 100 of disease by daily consumption, which is practically not possible.
MLM companies are not allow to sell medicine products and drugs for serious disease. So you are not supposed to sell your nutrition and wellness products to cure someone disease, because it may lead to serious threat for consumer and you. Same thing goes with the other categories MLM products.
During MLM company plan promotion, be crystal clear and explain what is MLM properly. Never do over-promise and promoting MLM as a job with fix salary is a crime.
MLM is the business of people and building relationships, for this you have to maintain trust and for this always be genuine.
You must read the direct selling guidelines issued by your state or central government. So you will get familiar with juridical do’s and don’ts of MLM.
6. Plan & Product Promotion
Now start counting with the people’s name in your prospect list. Call them & fix a first meeting with each prospect then make a schedule, but initially schedule not works, so no need to regret about it. (You can also do meeting on Call, but face-to-face meeting is recommended).
In the first meeting try to understand the current life scenario of the person and later explain your company plan in brief. If the person is extremely negative about MLM, then try to know the reason behind this. And explain them MLM is not what they think of.
If you are going for product promotion, then ask about earlier products used by them and what they expect from an ideal product.
Understanding the problems of your prospect should be the motive of first meet and later deliver a brief introduction of your plan and products.
Based on interest shown by them in the first meeting, decide next meet for detail presentation. After regular meets and experience, you will become able to read the mind of the prospects which will help to convince them.
Keep few things in your mind when you are doing prospecting.
- In initial days, you will hear ‘No’ from most of the people, so don’t get frustrated easily.
- Keep yourself ready with the all information regarding company plans and products.
- Use PPT, brochure, catalog as a marketing tool.
- Always try to influence instead of forcing them.
- Never ever try to defame someone job or business for MLM promotion.
- Focus and learn relationship building. It works in the long term.
- Try to understand human nature and psychology.
- The presentation should be like an interaction between you and your prospect.
- If the prospect says no, don’t ruin your relationship with them. They may need your product or opportunity in the future.
7. Follow Up
In most recruitment and MLM product selling process, 1 or 2 meet not gives conversation. hence the follow up is the only solution remains.
Before doing follow-up you have to summarize the last few meets and make a conclusion for their reasons of saying no till now.
After knowing the reason of their no, try to present a better offer during follow up. Understand their problem and promote your plan and product by linking with their problem.
In follow up prospect may ask certain questions, so keep yourself prepare for it. Here you will get conversion or more details for next follow up.
8. Be Organized
During MLM business you have to be organized with your work, it will make your more efficient.
Write and do documentations of meeting held, upcoming meetings, list of prospect, products sold, downline joined and their purchase etc.
Make daily to do list and make weekly or monthly target to reach your long-term goal.
Numbers are important in MLM, so you can create a graph and chart of your personal performance. Try to push these number every day, slight improvement is better than empty hands.
9. Teach Your Downline
To generate passive income from MLM, you require active downlines, who can work efficiently and grow your network.
For this you have to teach your downline and you have to accomplish the duty of a responsible upline/leader.
Teach your tactics and ways to grow their MLM business, which will increase your profit as well. Motivate them, but also focus on building their skills, cause motivation alone can’t work. Be a problem solver of your downline and customers. Meanwhile, also teach them how to create and grow network by own.
10. Go Online
As we said, MLM is the business of people and 3.2 billion people are using social media and this number is still growing. So it becomes vital to consider social media for MLM business.
Social media is a peaceful way to find targeted audience and doing prospecting. It saves your time and money for personal meetings, travelling and seminars. Social media is completely free, and it is another mode for becoming an MLM Millionaire.
MLM on social media is a slightly distinct thing, so we can’t explain this concept in this single post.
We have already launched Direct Selling on Social Media Hindi eBook Guide, which you can check by clicking the below button.
I hope this post “How to become MLM Millionaire Complete Guide” is helpful for you and you got to know about some new things. Network Marketing requires hard work with patience and practice this every day.
If you have any query or suggestion, feel free to comment below.