Live Or Die By These Network Marketing Tips

by Duke Romkey on December 7, 2011 · 5 comments

Live Or Die By These Network Marketing Tips

Network marketing is a tough industry with unfortunately a terrible success rate (sorry if you wanted the sugar coated version). You always hear the stats that 80-95% of marketers quit in their first year, notice I said quit not fail. Now let me rephrase your mind for a second. The network marketing industry in itself is not tough, it’s actually pretty easy, the tough part is the self-development that you must go through before you reach the level of success you desire. The statistic you don’t know… 95% of network marketers that survive ten years in the industry become wealthy beyond their wildest expectations as researched by Mark Yarnell. How do you survive 10 years in the industry? You can either hide in a closet somewhere or follow these tips…

Network Marketing Tips To Live By 10 Live Or Die By These Network Marketing Tips

1) Do a background check on the company.

I have a Doctorate degree in physical therapy so you better believe I know how to do my research and call B.S. on something. I researched my primary company as if it was going to determine whether my spinal cord injury patient walks or not. You should too, because it will be your livelihood and your name brand. The worst thing that you can do is get into a scam and show it to all your friends, family, and coworkers and then have them all find out it’s a scam. You have then just lost your most important asset: your credibility. One mistake will always be heard louder than 100 accomplishments. Do your research and pick your network marketing company wisely.

2) What type of training is available?

Here is what people miss because this is two-fold. (A) You need training to learn how to be successful and profitable in network marketing, hence you need good training. (B) Unless you are planning on making a whole series of training videos about a company and product you know nothing about, where are you going to send your new enrollees? It’s just as important if not more important that your new representatives be successful as it is you. Plus this takes a major headache out of the equation until you are ready to do your own trainings.

3) Take Advantage of Social Media

Did you know that network marketing involves the word networking? As in, getting to know other people and making new friends daily? Do you know that sites like Facebook give you access to millions and millions of people 24/7 no matter what time zone you live in. Well now you do, and you need to take advantage of it. There is this big new term being coined, “social proof,” and you need it.

You walk into a party, and you see two people. The first person is by themselves in the corner of a room. The second person is surrounded by 20 people all listening intently to every word. Who do you automatically assume to be more important and who is more attractive to do business with? The second person, because the 20 people around them have validated that person for you. That’s social proof in a nutshell.

4) It’s a numbers game

Network marketing is a numbers game. Remember the stat about how 80-95% of people quit in their first year, well if you are going to create a long term residual income, you need people in it that stay long term. What you need are leaders, you can either find them or create them but you need them. In order to find a leader, you unfortunately need to sift through a lot of people that dream of being a leader but won’t follow through with it. That’s the reality. So you need numbers, it’s not about how many people you recruit, but how many leaders you find.

5) If you want to have a full time income, you need to work full time

I know there is a lot of fluff out there on people telling you that you can create a 6 figure income in 4-5 months or less through network marketing. That’s not the norm, and what you don’t know is that a lot of those people created that 6 figure income in 4-5 months after being broke and poor for 5 years, then something clicked and “poof,” 6-figure income. The reality is that if you want to make a full time income, you will eventually need to either go full time or work it as if it were full time. Set your expectations for a full time income for 2-5 years if you are new. Can it be done sooner? Yes. Can you be that anomaly? Yes. Is the majority of people that anomaly? No.

6) Give back and serve others

Serve others. Train others. Teach others. Put value back into the community because that is what will determine your worth. Be of service to your downline and community and you will in turn be rewarded. Let me be clear, I am not recommending holding the hand of your new rep each and every step down, because remember, we are out to create leaders. Leaders do not have their hand held all the time, you can support them, but do not hold their hand every step of the way.

Network Marketing Is What You Make It

Network marketing will either open up the door to the life of your dreams or it will shut the door and point you back in the direction you came. You will be challenged from a self-development standpoint as everything that has stood in your way from becoming a successful and outstanding individual will be brought to the forefront and need to be confronted. I can tell you though that the road may be rough and filled with pot holes but it is incredibly rewarding as long as you stay on it. The only sure fire way to fail in network marketing is to never try.

 

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To Your Debt Free and Healthy Life,

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Headshot Live Or Die By These Network Marketing Tips Duke Romkey, Creator

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  • http://www.facebook.com/davesharp.crete Dave Sharp

    Another great post and so true Duke. I wonder how many people actually do an in depth research on their company, all the successful ones I bet!

  • http://www.ShalondaGordon.net Shalonda Gordon

    Duke, you have basically summed network marketing success up here in this post. Anybody can read this and have a good blueprint as to where to begin and what to expect.. This pat brings great value, thank you.. Keep smiling

  • http://www.facebook.com/lilach.bullock Lilach Bullock

    Duke this is a fantastic post that is refreshingly honest. You really need to do your due diligence when going into business or an opportunity.

    Not only that but you need to know exactly what you’re entering into – a helluva lot of work, but we know the rewards more than make up for it:)

  • Val Heisey

    Love this Duke! Number 6 was so refreshing to me when I started experiencing it from everyone in the industry. Hard to believe there really is no competition in this business because there is unlimited resources out there.

  • Juli Becker

    Duke, the more I read your blog the more I am impressed by your level-headedness and wisdom. Thank you again. Juli

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