Unlocking Success In Network Marketing

Wednesday, November 22, 2023

The Mindset Shift: Key to Network Marketing Success

When entering the world of network marketing, it's crucial to understand that success isn't solely dependent on the product, company, or being a naturally gifted entrepreneur. Instead, it hinges significantly on duplicatable systems that you and your team can follow with massive results. One of the biggest keys to my multi-million online business success is this: "People are not duplicatable, but Systems ARE."

The Early Struggles

In my initial days in network marketing, fueled by the vision of creating a 6-figure online business, I faced a dilemma when it came to identifying my target audience. Reluctant to approach friends and family, I opted for what seemed logical—purchasing cold leads online. Armed with a script, my first call shook my confidence when I was asked, "How much are YOU making?" Doubting my choice of company and questioning the feasibility of achieving six figures, I hung up.

The Turning Point: Discovering the Warm Market

Defeated, I sought guidance from my sponsor, and she shared a valuable training tip that I hold onto to this day: "50% of your business is found in your Warm Market." This revelation changed my perspective entirely. I revisited my List of Resources—the untapped gold mine in my warm market.

What is your Warm Market?

Your Warm Market consists of individuals you already know or have a connection with—a prime starting point for network marketing. Here are some examples:

1. Family Members: Immediate and extended family.

2. Close Friends: Trusted companions from various aspects of life.

3. Work Colleagues: Current or former colleagues.

4. Neighbors: Individuals from the local community.

5. Classmates: Former or current schoolmates.

6. Acquaintances: People known from social or community events.

7. Team Members or Club Members: Friends from sports teams or hobby clubs.

8. Religious or Spiritual Community: Members from the faith community.

9. Health and Fitness Connections: Gym buddies and fitness class participants.

10. Professional Contacts: Previous business associates.

11. Social Media Connections: Friends and followers on social platforms.

12. Volunteer Connections: Individuals met through volunteering efforts.

13. Parents of Your Children's Friends: Connect with parents from school events.

14. Local Business Owners: Owners of businesses frequently visited.

15. Mentors and Coaches: Those who have provided guidance in various aspects.

3 Step Strategy for New Team Member Training Success:

Here's the 3 Step Strategy I use when training a new team member to build their list of resources:

1. Building the List:

o Provide the above "Warm Market" list to help them compile 200 names.

o Encourage them to pick five people from the list for initial discussions about their business.

2. Scripted Approach:

o Provide them a Script for their Initial Conversation.

o With this script, guide them on making these initial contacts and directing their prospects to presentations.

3. Team Collaboration:

o As the sponsor, assist in follow-ups and the closing process.

Authenticity in Action

While your new team member cannot duplicate you, they can duplicate a system. Begin with the List of Resources, Scripts, and reaching out to the first five people. As a team leader, support them in follow-ups and closings. Keep it simple yet strategic.

In conclusion, your List of Resources, particularly the warm market, holds immense value, constituting 50% of your business success when utilized effectively. Embrace the untapped potential within your network, foster genuine connections, and witness your network marketing journey transform into a thriving and prosperous venture.

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