10 Skills to Master To Break The MLM Bank

by Todd Smith on July 26, 2013

The best of the best in every occupation are the people who strive for excellence at the little things.

If you want to build a successful Multi-Level-Marketing (MLM) business—one that continues to grow over time—then you would be wise to master the little things that go into building an MLM business.

a smiling Todd Smith

Todd Smith – $25 Million Career Earner

One of the most important things to instill in your brain is that income follows value. If you want your income to grow, your value must grow first.  Seldom in life does one’s income grow higher than one’s value.

Just because you joined a network marketing company does not mean that you will immediately start making more money per hour than you earn in your day job.  That type of thinking will lead to disappointment, discouragement, and frustration.

To build a large and thriving business you must focus on growing your value each day.  This means building your value as a person so others are attracted to you and want to follow you.  It also means mastering the basic fundamentals of the network marketing business model.

Listed below are 10 skills you must master if you are serious about building a successful MLM business.  The reason I say “must master” is because these 10 skills do more than influence your personal results; they also impact the example you set as a leader and your effectiveness as a coach and teacher.

      1. Building Rapport – Rapport is the process of building an amicable relationship—an emotional bond—between people based on trust, understanding, and a sharing of each other’s interests and concerns. It’s an attraction built on mutual liking, empathy, and camaraderie.

        As a leader of people, you must be someone who can quickly connect with people.  You will need to do this in your prospecting efforts and in leading your team.  Here is an article I wrote titled The 12 Fastest Ways to Build Rapport that may help you.

      2. The Invitation – The invitation is what you say when you invite people to learn about your products and/or business.  If you aren’t effective at getting people to review your offer, then you won’t be able to attract people to your business.

        Always remember this: the duplication process begins with your invitation.  What you say to someone you’re inviting is what you are teaching them to say to others, so make sure you lead by example.  Ask your sponsor or a respected member of your upline which invitations they have found most effective.

      3. The Presentation –Using tools to introduce your company’s business and products can make life easier; however, as your business grows, you will need to give presentations.  Your ability to professionally present your business will not just influence your results, but it will also play an important role in the respect people have for you and the example you set for your leaders.

        Here are some easy ways to get started:
          • When you read or hear ideas or information you want to include in your presentations, make a note of them.
          • Practice giving a 1-3 minute overview of your business as if you are preparing to tell everyone at the next networking event about your business.
          •  Practice presenting your business using your company’s presentation book.
          •  When asked to give a testimonial on a call or event, be prepared to give a great one. (Name, background and endorsement)
          • If asked to do a portion of a presentation, accept the offer.

        It may be months or longer before you need to give your first presentation, so don’t be overwhelmed with this point.  Start preparing now towards being a person who can provide a compelling overview of any part of your business.  Then, when your day comes, you will feel confident, because you are prepared! 🙂

      4. Addressing Concerns and Objections – When you present your products or business to your prospects, many of them will have questions, concerns, or objections.  This is normal, so expect them.

        When addressing any concerns or objections, smile and be friendly, show respect, speak with confidence, relate whenever possible, and avoid creating resistance.  It is also important to be prepared for their concerns. Ask your sponsor which ones he/she hears the most and how he/she answers them.

      5. Asking Questions – Learning to ask good questions is important in each step of the recruiting process—from the invitation call to the decision.  Your main objectives in asking questions are to show an interest in the person and to learn something that will help you guide the conversation to a positive outcome.

        Equally important is learning to listen.  When you ask a question, listen not only to the words spoken, but also for clues, or the message behind the answer.  Another helpful article I wrote is on the art of listening.

      6. Building Belief –Most of your prospects will not immediately agree to buy your products or join your business; therefore, you will need to learn how to effectively build people’s belief and confidence that the product or program you’re offering can help them obtain the results they want.

        Popular belief-building methods include the following:

          • Getting together with your prospects in-person
          • Inviting them to an event
          • Encouraging them to watch a webinar
          • Doing a three-way call with a member of your upline
          • Asking them to review an online video or listen to a CD.

        As you build people’s belief after an initial presentation, make sure you always know your next step.  Whether it’s an upcoming event or a three-way call, keep the momentum moving forward and make sure both you and your prospect know the next step.

      7. Getting the Yes – Your ultimate goal with all prospects is to take them through a logical belief-building process to the point where they decide to start using your products or join your business.

        Learning how to gain positive decisions is a skill every entrepreneur strives to master.  If you have never been in sales before, it would be well worth your time to read one or more books on the subject, especially if you are planning to make your network marketing business your full-time career.

      8. Getting Your New Distributor Started – This is where most network marketers get an F grade, which is why there is such high attrition in their businesses.  Because I work closely with my people, I have been able to earn over 23 million dollars and have sponsored fewer than 50 people.

        When you get your people started, put together a plan based on their goals.  Then speak with them each day for at least the first week, holding them accountable to their plan and helping them refine their invitation.

      9. Training/Coaching – If you are new, your first goal is to learn the system being used by your upline and immediately begin following it.  Don’t try to reinvent the wheel.  Instead, follow the system exactly the way it was designed.  As you follow it, strive for excellence as you implement what you learn.

        Not only will your personal results improve as you strive for excellence, but you will also become a great role model, coach and teacher.  Remember: the way you invite, present, and ultimately bring people into your business is how you are teaching them, through your example, to build a successful business.

      10.  Developing Leaders –The big money in this industry is made by developing leaders.  When you are the leader of your business, your growth is limited because all your people will be dependent on you.  Your goal is to develop leaders who then provide leadership to their teams.

        Ralph Nader said, “I start with the premise that the function of leadership is to produce more leaders, not more followers.”

        The best way to develop leaders is through your example.  Strive to be the ultimate role model for your team.  Become a person that people look up to with respect and admiration.  Identify leaders in your company whom you admire; then watch what they do.  As you see potential leaders in your downline, mentor them.  Teach them how to lead their teams.

        Remember what Vince Lombardi once wrote: “Leaders are made, they are not born.  They are made by hard effort, which is the price which all of us must pay to achieve any goal that is worthwhile.”

This lesson is a broad overview of 10 important skills used in building a successful MLM business.  Print it out and review it frequently.

Set a goal to strive every day to get better at one or more of these skills.  Each time you do something, ask yourself, “How did I do?  What could I have done better?”  Be honest with your answers.  It’s the compounding effect of small daily improvements that builds your value and ultimately your business.

There is not a lot of competition at the top because very few people will pay the price required to be the best at what they do!  How about you? What price will you pay to achieve your goals?

Author: Todd Smith is one of a small number of industry veterans who has earned more than $25 Million USD.  His attention to detail combined with straightforward style of teaching has allowed him to help thousands of people achieve greater success. He is also the author of Little Things Matter, a successful blog and book.

Be Sociable, Share!

{ 5 comments… read them below or add one }

Roy Patterson return August 25, 2015 at 4:33 pm Thumb up 0 Thumb down 0

I have involved in a few network marketing companies. A couple I did well in until one got sold and new owners chance the pay plan. The other terminated me because I violated one of their rules. Really is was because they were paying me too much money.
Where can I find a good honest MLM company that won’t screw me??

Reply

Viola Tam July 4, 2015 at 9:20 am Thumb up 0 Thumb down 0

Hi Todd,

I totally agree with you that many starting a new distributer right is where most people fail. I have come to the realization that there is a fine line between respecting a new distributer’s priorities in life and holding her accountable.

A good mentor is one who is consistently there for the new member and has the courage to challenge the new member’s own self-limiting beliefs in a respectful manner.This is why leadership is one of the crucial skills to master.

Thanks, Todd, for your wisdom and generous sharing.

Viola Tam

Reply

Lisa November 6, 2013 at 8:03 pm Thumb up 0 Thumb down 0

When I grow up, I want to be like you. 🙂 Regarding training a new Distributor, I have found that if they don’t take some responsibility for their choice of becoming a DT (ie. reviewing the company training and returning your call/text/email), that maybe they aren’t that interested. Then they have to take responsibility for their decision.

How do you respond to the Distributors that don’t respond to you?

Reply

Todd Smith November 7, 2013 at 8:04 am Thumb up 2 Thumb down 0

Hi Lisa,

If I sponsor someone who then does not return my calls/emails, I move on! I have no interest in working with irresponsible people. I have also found that irresponsible people are NOT respected, so even if they start making calls, their contacts won’t join them, because who wants to work with someone who has built a brand of being irresponsible.

I wish you the best,

Todd

Reply

louabbott November 7, 2013 at 8:06 am Thumb up 0 Thumb down 0

You beat me to the same answer, Sir Smith. But then, I probably learned it from you!

Reply

Leave a Comment

Thoughtful and constructive comments that benefit network marketing professionals and the industry will be accepted and published after review.
We will not publish rude or insulting comments, plugs for your company or product, or generally non-helpful or self-promoting content.


Previous post:

Next post: