MLM Training – 3 Things You Need To Have To Significantly Increase Your Chances Of Success

With the economy spiraling downwards, more and more people are looking for alternative ways of bringing in income to their homes. This, along with a host of other reasons, is why the Network Marketing industry is experiencing a major boom. Network marketing is one of those rare industries that has a unique relationship with the economy. While most industries see a spike during good times, network marketing actually explodes during bad times in the economy. With that said, there are some things you should know about the industry in general that will significantly increase your chances of success, should you decide to join a company. Of course, these things won’t guarantee you automatic success. But, as I mentioned earlier, they will definitely stack the deck on your favor.

Here are 3 things you you need to have an understanding of that will help you in your career:

1. You need to have a list – Whether you’re marketing online, offline or both, it’s important that you have a list if you want to experience success. Of course, you don’t need a gigantic list of thousands of people before you get started in your company. But, it should be a major focus of yours to build and grow your list, as you build your business. The bigger your list, the more success you’ll have. Now, I know you’re probably saying, “Duh, that’s so elementary and basic…” and I agree with you. Yet, you’ll be amazed at how many people start their business with a list if 5-10 names and think they will have life-changing success.

2. You need working capital – Typically, this is something that isn’t talked about when you’re first joining a company. The harsh reality of building a business is that you’ll need some money to pay for your business expenses. That’s not a bad thing… it’s just the reality of building a business, either a traditional or network marketing business. Things like your monthly autoship, your website fees, weekly events, regional and national conventions, tools, business cards, etc. cost money. Now, you can try to build your business without these things, but I wouldn’t recommend it. I mean think about it, you’re building a business. Why would you try to build it without using events, tools and products (from your autoship) that can potentially accelerate your success? Even if you market online, you still have to pay for your autoresponder, hosting, any paid advertising you do, software, etc. If you don’t have working capital to use for the sole purpose of building your business, you can very easily dig yourself into a financial hole, or get yourself into a ton of debt, since you’ll probably be spending more than you’re making.

3. You need support (Mastermind Group) – Don’t make the mistake of thinking you can achieve all your goals without help. At the very least, you can minimize your mistakes by learning from people who have the knowledge of what works and what doesn’t. Without guidance, you can still have success but you’ll have to go through a lot of trail and error, which is not only time consuming, but can cost you money as well. I can go on and on about this specific topic, but just remember that having a Mastermind group can potentially be the difference between succeeding and failing.

Network marketing is a great industry, that has created many success stories. But it also has it’s share of people who failed. As long as you know what you’re walking into and you treat your business like a “real” business, you can achieve great success in this industry.

By mezza