I figure since my site is called The Network Dad I should start sharing some tips around building your network marketing business. MLM support for your team seems like a good place as any. Now if you are not currently building a network marketing company then you can just skip to the share sites located on your left. Or you can just jump down to the comments and tell me how wonderful I am.
All kidding aside… this will be a quick and direct message today.
After being in this industry for some period of time I’ve seen a few things that work and a ton of things that do not. As well as noticing that there are things we can control and things we can not. But it all boils down to one thing that provides Superior mlm support for your team and I’ll get to that in a minute.
MLM Support From the Company Down
But first lets chat about what we believe good mlm support is. First there is the company itself. Your company should have, what the industry calls, the 5 pillars of a good mlm company. You want to know that you company has your best interest in mind and at the same time create a valuable product for the marketplace. You company needs to have the right balance of business sense and marketing plan. Often what the company does may not seem like the best approach to either of these points. But we need to know that they are stable and growing.
The 5 pillars
Leadership – Does the top management have a background in building a down line? Have they paid their dues with learning how to build a successful organization. If so then your company has a good chance of really understanding what you need to grow your business. But what if your company’s’ top brass doesn’t have this background? The next question would be…are they going to get it? Think of Henry Ford. He didn’t know a lick about building cars. But he knew he could hire the right people to get the job done.
The best MLM support must come from the top down. Or a champion will rise up from the field and either dominate the team members or take over the company. This is done more often that most realize.
Product – Good quality products that people want. If you can wade through the marketing hype and find true testimonials and information on product references then you can quickly determine if the product is wanted or needed by the marketplace. First ask yourself who the product is for…what type of people. Is this person among the masses of people? Of course we all want tot think that our products are needed by everyone….right?
Everyone wants to make money…
Everyone wants to be healthy…
Everyone wants loose weight…
Everyone wants to collect precious metals…
Or do they? Yes we all may think our product is for everyone, but the reality is not everyone wants or…(shutter) even needs our products. But there is more.
Timing in the industry – When the health and wellness revolution started it was deemed that the baby boomer generation has something to do with it. Over 70 Million baby boomers launched the fast food industry, toy stores and basically brought hundreds of concepts that were previously reserved for the upper class to middle America. They had the money and wanted to feel better and younger. That revolution started almost 20 years ago.
So what continues to drive new companies now? Why are more companies being born under the health and wellness flag than ever before. Shift in economy? Shift in mindset? Shift in global expansion? Besides the timing of a company to market, there is the timing of the company with regards to it’s family of members.
Duplication – This is the new mlm support system. The idea of moving past just making a list family and friends. Adopting the latest concepts of social media, and blogging to extend your reach and attract people closer to you. From people to systems, the companies that can grow with the changing times and blend a simple duplicatable process of exponential growth and simple to follow steps, will continue to grow in the new economy and global marketplace.
That was a mouthful so read it again. From training to systems…the people need a simple process that easily duplicates.
Compensation plan – After the products and tools and systems are set up and being used it comes down to…money. How do we make the money? Unless all you want is a following of customers you need to be able to offer an aggressive compensation plan. Now as much as i would love to end the debate of what plan is better, it’s just not going to happen. The comp plan pissing contest will continue long after I’m gone.
But here’s what we can all agree on. When you are brand new learn the comp plan so you say say it within 60 seconds. usually it’s the first 2 levels or points of interest you want to focus on. Up front commissions and first team member payout. Anything m ore than this will confuse you and your new prospects.
As a leader you want to understand the entire compensation plan. Don’t wait to get started while you learn it, just know it so while your team grows you know how to leverage it.
This is Part 1 of a 2 part series. Tomorrow we’ll dive into the MLM support as it pertains to a leader growing a million dollar business and million dollar down line.
Ken Pickard
The Network Dad
P.S. What are some of your ideas on how a company can leverage and show it’s MLM support?
Hey Ken,
Oh goodie, another series. I keep telling myself I’m going to do one of these but you’ve yet to see it over at my place.
All very good points you’ve made here so I will agree with you on all of these. I hear what you’re saying and I know a lot of people aren’t quite sure how to look into all of this when researching a company. There are so many different views a good bit of the time and some come from disgruntled castaways.
I think that it all boils down to what you feel in your gut too. I know that’s no hard evidence or proof but a lot of times it all sounds too good to be true and people are pulling you to go one way but your gut is telling you another. Oh yeah, go with the gut.
Will look forward to part two so I’ll see you then. As always, great information you’ve shared with us Ken.
~Adrienne
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Interesting, although I am not in the MLM business, there are definitely parallels to any business! Up stream, down stream, no stream… you need some fundamentals and that includes pretty much precisely what you said: leadership, good product (or service), timing, process and the best of all…. show me the money! Can’t wait for part 2
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Hi Ken,
Great choice of topic. So many people have NO IDEA on Earth what to be looking for in a company. There are tons of companies out there and bunches of them come and go as the wind blows.
One of the more elusive things I have found about choosing an opportunity is selecting the right sponsor. I’m actually working on a blog post about this right now…
To answer your closing question, I’ll just say that for me, a good sign of an MLM company showing its support would be to stay on top of the trends and create an environment where leaders may thrive. What do I mean by that? Let’s talk innovation!! Those companies who are lagging behind in the dark ages expecting that everyone is going to uniformly build their business in the ways of the 80s should take a tip from the new kids on the block who bring TECH to the table for their reps to leverage.
Punch it up a notch – it’s the 21st century! People are demanding BETTER, more effective, and cooler ways to build their businesses and they do not want to be suppressed and forced to conform to rigid and dogmatic notions of 20 years ago!
Cat
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I’ve read a lot of MLM posts on various blogs lately, but I really like how this one went into the foundational aspects; the key to success for any business. I really liked the points you made on leadership, probably because that topic is fresh in my mind after reading an interview with the new Binghamton University President. In it he was quoted as saying, “Not everyone needs to necessarily like the decision you’ve made, but they all need to understand why you made it.” I really feel as though that’s one of the most important jobs of a leader. …The new President, Harvey Stenger, also said he had most recently read a leadership book on Abraham Lincoln. I wonder if he stole that quote from it. Anyway, just thought I’d share that. Thanks again for the solid, easy to understand breakdown of successful MLM support.
Hi Ken,
Even though I am not active in network marketing anymore, I have been for two years and I agree with all that you are saying.
I think that the most lacking thing in this business is a good and TRUE support. I was in three different companies and I have never seen a good support. Some are even worse than others. They always advertise themselves as being the best, but truth says otherwise.
This, said I am sure that there are some good uplines out there and some good companies as well.
Thanks for this
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Hey Ken, Glad to see a series going on here. These five pillars are familiar to me but I always had trouble with Leadership in the past. Without good leadership in a company, one can be left alone and eventually opt out of the business.
Now, after experience, I question someone if I want to join in a company that I would use the products myself.
“Do you have ongoing webinars?”
“Do you have weekly phone sessions?”
“How long have you been doing this business?”
“Do I have to use the company’s website and not my own niche site?”
My list goes on and on because I like to interview someone before I opt into a venture with them.
So to me, Those five pillars are all important, But if I don’t have a good leader, I won’t even think about it. Well, that’s my two cents and I’m looking forward to Part 2!
Donna Merrill
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Hi Ken, I have to confess, I had to look up what MLM was. Clearly I don’t participate MLM, but if I did, I would definitely use your advice. I know people who have been burned by participating in this type of system so it’s very important that people investigate the company before they get involved.
Thanks for sharing your wisdom with us, Ken!
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