The MLM Entrepreneur’s 3 Keys to Maximize Profit
The term entrepreneur was coined in the 19th century by Jean-Baptiste, a French economist. An entrepreneur is a person who is willing to launch a new venture or enterprise acting as the middle-man between the capital and labour as well as willing to accept full responsibility for the outcome. MLM leaders live this definition every day.
Scholar Robert Reich, considers leadership, management ability and team-building as necessary skills of an entrepreneur. Without a doubt, these are essential for MLM success. However, we need look a little a little deeper at MLM networks and identify the key elements that separate the MLM leaders and followers. MLM leaders are very selective with the opportunities they choose, they take specific action without hesitancy and always apply cutting edge technology.
Key One: Choose the Right Opportunity
-For best return on investment, partner with a relatively new company that has been established for at least 12-18 months knowing that most business ventures fail within the first two years.
-Select a company that has NOT hit critical mass in their is proven that the people at the top experience the greatest financial return
-Consider aligning your resources with a Publicly Traded Company to ensure all major decisions are made in an open forum benefitting all investors
-Do your “due diligence” with the product or service and select companies that have scientific evidence or proven results
Key Two: Take Action
-Review the comp plan to ensure the initial investment can be re-cooped quickly and that weekly and monthly incomes continue to grow providing ongoing resources for the MLM team members
-Select partners on your MLM team carefully, a solid foundation of committed networkers will impact retention and is critical for success and longevity of residual income
-Avoid building customers initially, successful MLM entrepreneurs are business builders and need team builders willing to work to duplicate results
-Timing is everything, work hard to secure return of initial investment within 30 days to ensure team momentum
Key Three: Use Technology to Maximize Profit
-Establish a working website with quality information including blogs, articles, videos, capture pages and training resources
-Position yourself as a MLM leader with management and team-building skills demonstrated by using blogs and publishing articles on recognized sites
-Establish a target market for your product or service and use capture pages to align other engaged MLM leaders
-Engage auto-responder software to market, train and recruit experienced business leaders making your business opportunity accessible 24/7, 365 days a year
Coach Tom Coughlin of the New York Giants inspired his 2012 team saying “winning is a habit and you need to play with your heart” which resulted in a Superbowl Championship. MLM leaders can be motivated by the same words. Just as the Giants developed habits to achieve the win, MLM entrepreneurs need to apply the 3 key habits to win the game of network marketing. Yes, it is critical to find the perfect opportunity with a product or service that you are passionate about and believe in 100%. It is also important to establish winning action habits that allow your network to grow exponentially to experience maximize profit.
Apply the 3 keys to MLM success to build a solid foundation that will stand the test of time and attain the ultimate MLM win!