7 Golden Rules of Network Marketing

In furthering my series on success in Network Marketing, let’s explore the 7 golden rules of network marketing. Can there be 7 Golden rules, you may ask? The words “golden rules” suggest that following these rules will guarantee positive results so I immediately start out with a disclaimer! No matter how fixed these rules appear to be, they depend entirely upon the person carrying them out and no two persons will carry them out in the same manner. Therein lies the secret – how you execute these “golden rules” will determine your outcome!

Rule no 1 – Understand the personality types of your prospects! There are four key personality types and they are known by various names within our industry – some people refer to them as animals, others colors and even gem-stones. Whatever you call them – here they are in brief:
a) The driver/CEO/a-type personality who makes decisions fast and wants rapid results. These are key people to have in your organization and I am here to tell you that you won’t build a very large organization without a couple of drivers in your leadership team. They tend to make things happen although egos can get in the way from time to time!
b) The people who love to play, travel and have fun. They will be great in networking and will be keenly interested in the incentives and competitions offered by the company.
c) These are the people who love to help others. They are philanthropic in nature and sign up to network marketing so that they can make a difference in the world. They tend to be less money-motivated.
d) Finally, you have the analysts who will analyze the products, compensation plan and anything else they can think of ( you can tell this is not me) to the nth degree. Some analysts will make it in network marketing but not many!

True leaders tend to be a blend of all four personality types and this is why we teach this concept because you require to understand and incorporate these aspects into your team. Being able to determine the dominant or driving personality force of your prospect will amplify your recruiting abilities.

Rule no 2 – Prospect at least six new people per day so that you have enough qualified prospects entering your sales funnel. No matter what anyone tells you, and we all emphasize certain skills from time to time, network marketing is a numbers game. Whether you are using the internet or not, you will have to shift through a lot of prospects in order to recruit sufficient numbers to qualify as an active networking business. I have been told that recruitment averages at about 1 in 30 prospects and I believe this to be accurate. If you prospect 30 people per week, you should be recruiting at least 1 of these. Now I believe that using the internet, you should be getting better numbers than this but it still depends on how many people you are prospecting. No prospects is no business!

Rule no 3 – Have a proven sales system and customer management system in place. You must have a duplication system in place that your team can use no matter what their experience level. Simplicity is the order of the day.

Rule no 4 – Learn social media skills so that you remain current and up-to-date. Whether you are comfortable with social media or not, I am here to tell you that social media is the new way and if you are intending to build a network marketing business over the next 5 – 10 years, you will have to learn how to use social media. Again, social media requires skills and most people don’t understand how to engage people effectively online. Engage a social media coach today and start learning how to get involved.

Rule no 5 – Learn how to present – on phone, via video and live presentations. We teach that network marketing is a simple system of duplication but here I am teaching how to be a leader and whilst you won’t need to present from the outset, as you build a team and develop as a leader you will be expected to contribute to conference calls, webinars and seminars. Network marketing is a personal development business and presentation skills are a part of this skill-set.

Rule no 6 – Be consistent and reliable – you have to take consistent action every day and at the beginning when you are building your business, it can be difficult to put together an action plan that is consistent but this is like any other business – it requires consistent attention and being a reliable presence for your team.

Rule no 7 – Don’t believe everything others tell you, be true to yourself and never, ever quit! Everyone has their way of doing network marketing and if you listen to the success stories, the road to success is as varied as the people who got there. Therefore, learn the principles and apply what works for you. Let’s say you don’t like online prospecting, focus on recruiting offline via home meetings or hotel meetings. However, as a leader you do need to understand all methodologies so you can assist others on your team to use methods that work best for them.

I would love to hear your feedback so please comment and share.

Tagged as: Network Marketing, Network Marketing Leadership, network marketing success