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05/28/2006
MLM Success | Most Important Key to Success
What do you think is the most important key to your success in MLM? Are you guessing products? Most people do. That’s not the answer. Yet that’s how most people choose their MLM Company. First, they fall in love with the products first then they decide to sell the products. That way is totally backwards and can lead to frustration and failure! May I suggest finding a good company first, and then falling in love with their products.
The Pizza Story
Let me tell you a story about two friends of mine, Sheila and her husband, Wally. They were looking for a business to own and found a pizza place. It had the best pizza in town. The owner of the pizza joint was retiring and my friends decided to buy it. They knew everyone would buy their incredible pizza once the word got out about how good it was. Their fortune was right around the corner!
My friends took the plunge and bought the business, they loved the idea of being their own boss and creating a solid customer base providing them with life long residual income. But, there were problems. After jumping in they discovered the books have been fudged and the store wasn’t as profitable as it had appeared. Something else they uncovered was the health inspector had shut the restaurant down at least 5 times in the past year. Also, the shelves were stocked with expired ingredients which they had to replace. They started to realize their pizza place hadn’t been well managed and did not enjoy a good reputation.
The “timing” of the product was off. People were starting to prefer Mexican food to just “plain pizza.” Therefore, the clientele had been slowly dropping away.
The store only offered pizza, and their customers wanted choices. Therefore they went to another restaurant down the street where there was more of a selection.
The store had very high overhead. It was located in a high rent district. Because of this, the pizza was expensive. Nobody cared how good was. They’d rather spend their money on a fancier restaurant than pay the high price for pizza.
Because of the high overhead they couldn’t afford to pay their employees a competitive salary. As soon as they were hired and trained they’d leave. They were constantly hiring and training new employees.
It took a long time to make each pizza because there were no systems in place and with the high employee turnover no one was able to teach and train them.
Great product, sour business model.
Can you see how this applies to MLM companies? Many people get involved in MLM because they just love the products and think it will be an “easy sell.” They join their company and are hit with the reality that just because the product is great, it doesn’t mean you’ll be successful.
The first thing you must do before joining a company is ask, does it have company management with integrity? To find out, read the company’s policy and procedures. You may be very surprised at what you’ll find. You may find you are building their company, not yours. Many companies have added new clauses stating you must provide continuous, ongoing training to receive your check. Another bad clause to look for is 30-day termination without notice. Don’t fool yourself. This does happen in our industry!
Timing is everything
How about timing in the industry? Make sure there is a high demand for your products or services. If the company is old, you’ll have an uphill battle with people saying they’ve heard of it before. If the company is a start up you could be building only to have it go out of business and take everything out with it. A 3-5 year old company is best.
Make sure you have more than one product in your MLM company, preferably one that’s consumable. One product companies will have a good run for a few years, but then flat line.
Everyone has to be able to make money in your company, not just the heavy hitters. If you have to work you rear end off to make 5%, people won’t stay around very long. A pay plan must pay part time average people a decent amount of money. Otherwise they’ll be out dropping out like flies.
Lastly you need a MLM company with a proven, duplicatable system with upline support and training. Everyone I talk to just wants to know how to do this thing we call MLM and how to do it successfully. If you are trying to figure it out yourself with no one in your company teaching you how, it will be a long, tough road my friend!
There you have it. I suggest, if you want massive MLM success, remember the first most important key is a good company. When you find one with all of the above in place, I can assure you, they’ll have awesome products for you to fall in love with. Then you’ll be on the road to MLM success!
If you're interested in discovering more keys to MLM success click here for your free ebook!
Suzanne
Be a Mentor with a Servants Heart
813-841-1050...anytime!
www.TheMLMmom.com
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