Today’s episode is “Winning Financially in Your Network Marketing Business!” Your Direct Sales or Network Marketing business can be an excellent vehicle to bring in extra income – IF you do it right. If you don’t, you might end up wasting precious time and energy without much to show for it. Special guest and creator of the Dare to Win at Network Marketing coaching program, Andrea Raco is going to teach us how to increase our income with our direct sales or network marketing business.
Andrea is a former Insurance Broker, a busy Mom of four teenagers and dedicated to the same wonderful man for 2 decades. She’s a certified Personal Success and Life Enrichment Coach, the Founder of Coach for Life and Curator of Gold Key Club – her private community for motivated Ladypreneurs, Supermoms and Difference Makers. Today she inspires women to Create a Masterpiece Life based on their unique vision for ultimate success by blending time-tested strategies and solutions she co-creates with her clients. Following a harrowing battle with Cancer that nearly stole first her husband and 13 months later, her own life, Andrea’s shares her passionate message: TIME is the true currency of Life.
Golden Rules of Network Marketing Business
- Network marketing is entirely about relationships.
‘They don’t care about how much you know, until they know how much you care.’
You’ve likely heard this before… People only buy from or get into business with, those they know, like and trust. It’s up to you to bridge the gaps between ‘Stranger’ – ‘Prospect’ – ‘Customer’ & ‘Consultant.’ Have a plan for how you’ll do that FIRST – before you just start reaching out to people on messenger offering free samples and adding people into groups without talking to them first. Understand how you want people to experience ‘YOU’ – working with you, building something with you. Your first contact with them speaks volumes. Yes – you want customers, but building a strong, thriving and profitable Network Marketing business is about building a team and leading people to success…so as much as your upline says ‘just keep adding people in’ – unless you’re investing in those relationships and attracting consultants into your business and helping your team learn what it takes to become successful – you’ll have a hobby, and not a profitable business. Recommendation: You, Inc by Burke Hedges.
- Systemize It.
The biggest key to building a profitable network marketing business is to implement systems – and teach those systems to your team leaders while your business is still small and manageable…so that the leaders duplicate your process. Network Marketers are a special breed…everyone can do it but becoming effective at it takes practice and the development of a certain skill set. Of course, it’s the very best personal development program out there…but you can’t be everything to everyone when your group begins to grow and expand – that’s why systemizing as much as possible is invaluable. Take the time to build a community. Have a contacting and inviting system. Have a consistent meeting time each week for new people, new product info and learning leadership skills. Invest time in your existing team to help them develop their network. In helping them develop their network, you’re developing YOUR network and when we teach someone a system…we relearn it ourselves. PLUS – down the line, this important step will free up your time once that team member is practicing the same processes and taking ownership of their business…and teaching the same processes to downline group members.
- It’s NOT a ‘Quick Fix – Get Rich Quick Scheme’
Do not mislead your team members. Network marketing is not something that happens overnight – it takes consistent, persistent daily efforts over 3 to 5 years to build a profitable networking business. Absolutely believe in everyone. But don’t wait for anyone. Keep building your business with an eye on spotting potential rock stars – you want to find those diamonds in the rough who are hungry for more and willing to step out of their comfort zone to try something new and build something awesome but learning the skills to become effective at network marketing – although technology has made it so much simpler – still takes time and a willingness to learn. Understand that getting involved isn’t going to give you huge returns up front – it’s the long game that you’re developing with a networking business.
- Don’t be afraid of ‘Sales’
Salesmen get a bad rap. It’s completely understandable that no one wants to be in the same category as the sleazy used-car salesmen and no one likes to be ‘sold to.’ So, here’s the thing…there is artistry to salesmanship. Understanding a need, and filling it, or understanding a problem and solving it is not sales – it’s providing solutions and benefits to people. Shifting your attitude about sales and your approach with potential team members will take your network marketing business to a whole new level. Recommendation: ‘How I Raised Myself from Failure to Success in Selling’ by Frank Bettger.
Dare to Win Free Strategy Session where we’ll talk about systemizing your business, branding yourself, gaining online visibility and building a thriving networking business in a digital world. Includes a free PDF copy of You Inc. by Burke Hedges.
Andrea, thanks again for joining us on the Financial Lifeguard on Duty podcast. Please tell our listeners how they can connect with you. Find Andrea here: http://www.coachforlife.ca/contact/