Start and Build Your Own Company!
What do I mean by saying start your own company? Well, it's really quite simple, make sure to build your own business first, instead of sending all of your prospects to your MLM company. Think about it this way, if your network marketing company one day happened to tell you that you can no longer be a member and promote their products or services, what would happen to your business?
Can you imagine having built a large organization with a company that either goes out of business or one that revokes your membership? These things happen, yet no one likes to talk about them because of one reason or another. Let's face the facts, it's just business. If you are serious about building a long term business for yourself and your family, it's best to get the foundation right. Without the proper foundation, it doesn't matter how well the walls, ceiling, or roof is built...the longevity of your structure is at risk if the foundation is faulty.
By taking the time to structure your business where you are building your own company instead of your MLM, you are protected from loss due to unforeseen factors involving your MLM company. So, what are some of the things involved in building our own company? Let's take a look at a few necessities below.
1. Brand Yourself - This includes having your own website, not promoting that generic company website. Build your social media profiles around your brand instead of your MLM. Promote You, Inc. with videos, blog posts, etc.
2. Build A Customer List - One of the most important items in your business is the customer list. This list does not have to be big, you just need to have a good relationship with those on it. In MLM, newly sponsored recruits are told to write a list of 50 to 100 people in their warm market for promoting their products and opportunity to. Family, friends, and co-workers are on that list because, they like, know and trust you. Many of them anyway...LOL.
It's very difficult to promote to people in your cold market because they don't know you. However, you can build a list of 1000's or more people from a cold market. One of the best ways to do this is by email marketing.
No doubt that you are on several email lists right now from people you've never met and guess what...I bet you even open many of those emails and even buy things because of an email from time to time. Now it's time to implement email marketing into your business and build a list of 1,000's.
3. Provide Value To Your Market - I know some network marketers are going to send me some hate on this one, but Not Everyone Wants What You're Selling...No Matter How Good It Is! You may have the best products or services and people are making money, losing weight, getting healthier, but some folks just don't give a hoot.
Why do people buy garbage products? Because they want it! I know that I've purchased things that were complete garbage because the marketing was better than the product or service. In your marketing, you have to promote your products and services to people that what you're selling and the sales will come much easier.
A dentist trying to sell $20 tooth extractions to people with perfect teeth will be unsuccessful. If that same dentist positions himself in front of someone that needs a tooth removed, even the price is will not be much of a factor. This person is seeking a dentist and will gladly pay more than $20 for it. Find a hungry audience and put offers that provide solutions to their problems in front of them.
4. Create Lifetime Customers - With all of the effort that you go through as a business owner to acquire customers, why not keep them coming back? I like to shop at Wal-Mart. Sometimes I buy from their online store and sometimes I go into the physical location. The point being, I didn't just make one purchase. If I buy something and don't like it, they take it back with no hassle. The prices are not bad either.
In your business, create an environment where customers choose you over your competition. Give away bonuses or discounts to your existing customers. Think outside of the box for ways to improve give more value to your customers.
In MLM, some of your customers are only product users while others are business builders. By building a business around your brand instead of simply promoting your MLM you will be able to provide value to both. Such as business building products to your customers that need help building their business. For those only interested in buying your MLM products, provide them with great incentives for making a purchase from you.
If you would like to build a profitable business from home that does not require prospecting or recruiting, I recommend affiliate marketing. Learn how to go from zero to a super affiliate in 100 days with our free Affiliate Marketing Bootcamp!
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Until the next time...
Best,
Chris Thompson
