Do you want to succeed in a Multi-Level Marketing business? Let us share with you the 9 skill sets one should master in order to have good results and eventually succeed in this business.
This is the heart of your business. Imagine, what can happen if the heart stops working? Your business will stop.
To have an ongoing business in MLM, you must have an ongoing prospecting activity. You must continuously identify potential customers and business partners.
And you must have an effective prospecting system.
To the Internet marketers, this means having a lead capture page and email autoresponder bundle working for you. But that is a bit advanced, which we will tackle in our future posts here.
Basically, prospecting is the process of identifying potential customers and business partners in our business. And you must develop that skill—how to identify qualified candidates.
You may encounter rejection in this process, but you must always remember…
“Amateurs convince, while professionals sort…”
So, the keyword here to remember is “sort”.
This works together with prospecting.
After you have identified potential candidates, you must invite them. Invite potential business builders to a business opportunity meeting hosted by you or your team. Invite potential customers to a product demo.
To the online marketers, they automate this process the bundle of ads + capture page/landing page.
Going down to the basics, let’s say if your MLM business does not have this online system, you must personally invite your prospects to see either your product or your business opportunity.
Some haters of MLM would discourage you for this, but keep in mind that maybe the reason why they are saying those negative things is that, they don’t “fit” for the job.
Remember my earlier mention of the word “fit”?
Also, don’t forget…
Amateurs convince, while professionals sort.
So, don’t fret when someone declines your invitation.
“Some will, some won’t, so what?” Go to the next prospect.
How do you make an effective presentation?
First of all, be yourself. Your audience wasn’t born yesterday, they can identify a potential fake.
Although this involves selling skills which some people are naturally good at while others are not, we can simplify this process…
Just keep in mind that you are there to identify a need from your prospects, whether they are for the products (customers), or for the business opportunity (recruits).
And when we say “needs”, your job is to provide a solution. To meet their needs.
When you fill a specific need, when you provide solutions for specific problems, your job is done. And to effectively do it, show to your prospects the benefits they can get, and not much emphasize more on the features.
You can mention to your audience the features of your products, but don’t dwell much on it. Explain the benefits they can get, and you will close the sale.
When met with rejection, always remember the rule…
Amateurs convince professionals sort.
4. Handling Objections
An objection is different from rejection.
While rejection is an outright shunning of you, objection means the prospect is considering our product or our business opportunity that is whey he or she is a question.
It may not sometimes good to the ears, but qualified prospects make objections out of genuine reasons. They are asking questions enough not to blow you off, but just to clarify some points.
The outcome of the prospects asking giving you objections will be determined by how you respond to it. Thus, it requires responsibility on your part.
Do you remember what the late Dr. Stephen Covey has said over responsibility?
In 7 Habits of Highly Effective People, he said that RESPONSIBILITY is actually our ABILITY to RESPOND.
So, the way you handle objections will determine if you will get the sale or sign up a potential distributor.
Keep your cool when handling objections. Keep in mind that you are there to help.
5. Closing And Signing
I remember, there’s a book that’s sold in Amazon entitled, “Shut Up And Sell“.
In that book, the author emphasized the importance of learning how to close the sale. For in closing sales, income is realized.
No closing, no income.
He then went to point out that one of the reasons why some sellers struggle to make money is that, they spend a lot of time telling, teaching, and explaining all the features or benefits and that they forgot closing the sale.
At the end of the meeting, they shake hands with the prospects, and part ways without getting the sale.
Teaching is okay, but you must close the sale! If you can’t, then you better just take a teaching job in schools.
Unfortunately, some people feel an unknown guilt when closing a sale. If you have this with you, take it away. You do not have to feel guilty or ashamed of what you do because, like we said before, you are just helping the people!
When you close a sale, when you handle your prospects order forms or sign-up forms, it means you are just ensuring they get the benefits they deserve.
Remember, you are there to help.
See yourself as a sales manager.
Instead of just depending on your own efforts, you must enroll others to your team. This spells the difference between working hard and working smart. Besides, there are only 24 hours in a day, and you can’t even work 24 hours just to earn big!
You must train others.
To succeed as a sales manager, to succeed as an upline sponsor of your distributors, you must first work on yourself. You must undergo some personal development, and prepare yourself for the job. Only then, you will be able to relay to your team what have you learned.
The Best approach so far is “Do what I do”.
Show them how to do the following:
- Handling objections
- Closing And Signing
Now, what have you noticed here?
Along with training your team members on the skills needed, you have to be a coach to them.
Just like in a basketball team, a coach needs to be there. He should be someone who has the knowledge and experience of the game, and capable of assessing situations given. Then he suggests what needs to be done in order to win the game.
And like any other skill, coaching skill is also developed.
Aside from your own personal experience, you should read books with regard to coaching. There are books out there that were written for other industries, that contain lessons that can be applied to network marketing coaching.
One good example is John Maxwell’s books on coaching.
Basically, coaching in network marketing includes assessing the strengths of individual members of the team, and supporting members accordingly. Also, you act as a guide that helps members reach their goals or adjust when needed.
A coach is essentially a “guide”.
Guide your team members to where they are supposed to be going.
This is almost the same as coaching skill.
Supporting is basically a technique. But it can also be a skill that can be developed. Becoming a supportive upline sponsor in your team.
A lot of MLM distributors are complaining they have been abandoned or not being taken cared of by those who recruited them. And that’s sad to hear about our industry.
By being a supportive leader, not only you will be loved by your team members, you will also attract orphaned downline members of irresponsible MLM recruiters.
But make sure you are building a business, not an orphanage.
Support your team members by motivating them, assisting them in products or business opportunity presentations, and recognizing achievements.
Be the leader you would follow.
And last but not the least…
9. Tracking Performance
This involves accountability and flexibility.
To succeed in any business, you and your team must set goals. By setting goals, you will have a ball to focus on. Keep your eyes to the ball to get the goal.
Part of achieving goals is tracking performance—yours and those of your team.
In the olden days of direct selling and multi-level marketing, upline team leaders track the performance of their teams through a paper called “genealogy recap”. By looking at a printed report, you can assess how is your team doing.
Today, we now have online reports.
Modern MLM companies provide their members with a back-office website to look at. By logging in, you can track your team’s performance in real-time. This allows for immediate recognition of performers by their uplines.
Recognize the movers and motivate those who are not moving.
Though it looks like work, developing your skills can be easy once you get the hang of it.
Starting with honing your prospecting skill, to building an ever-growing team, everything can be learned or developed.
If you are just starting out, you can learn all these first from the training, then from applying them to your business. And then becoming the leader others would follow.
You can do it. I did.
Thanks for reading. If you have questions or you want to add something, feel free to leave a comment below. Let’s discuss.