Network Marketing 7 Common Mistakes To Avoid When Building A Successful Home Based Business

If the network marketing business is so good then why 90 percent of the people see the opportunity but fail in it? The business idea of building a large organization is so simple yet not easy to accomplish.

In this article, we look at the 7 common mistakes to avoid when building a successful home based business.

1) I must find the Super Salesman / I must become the Super Salesman.
Many of us view the MLM business as a numbers game but a successful network marketing business builder looks at both quantity and quality of people. There is no doubt that sponsoring is the foundation of building a large organization. However, as concerned as we are about the numbers in our team, we would rather be sponsoring five teachers than five salesmen.

You see, we are not dismissing the fact that salesmen can be a great asset to your team. Sure, the salesman will automatically do very well in selling the high quality products your company offers. They are able to put together their own presentation and sell effectively to people around them.

However, we do not want to tell our people how to sell, we want to teach our people how to sponsor and teach to build a large organization. Likewise, if you are a sales person yourself or you have people who are sales oriented in your network marketing team, teach them how to sponsor and teach to build a sustainable organization.

It can be difficult because if for example, you tell your super salesman that you need to sponsor people to make the larger amounts of income, what will they do? They will go out there and sponsor 3 to 4 people a week. This is great isn’t it? However, you may then notice that people are dropping out as fast as they join your team. This is because you are not working with them effectively. Sooner or later, your super salesman will be discouraged by the high leaving rate and leave the organization as well.

In order to avoid this, our organization has to be built on the strong foundation by TEACHING OTHERS to sponsor and teaching them to teach others to do the same.

2) I need to sponsor the whole world to be successful.
The Super Salesman can sponsor 100 people in a short period of time but most (or sometimes all) of them will drop out of the business. Now, which do you feel you could do more quickly — sponsor 100 people yourself? Or sponsor 5 people who are serious and teach them how to teach their 5 to do the same?

The network marketing business concept works on the idea of LEVERAGE. There is absolutely no need to sponsor the whole world to be successful. Concentrate on working with five in your team and teach them also to work with their five and so on.

3) I only need to bring in one other person.
Most people think that you have duplicated yourself once you brought one other person into your organization. This is NOT true. The concept of true duplication only comes about when you have built your organization THREE LEVELS DEEP.

Take the example you sponsor ‘A’. If you leave and because you did not teach ‘A’ and he does not know what to do, that’s the end it. On the contrary, if you DO teach ‘A’ to sponsor ‘B’, ‘A’ will know what to do even if you go away from the organization. However, if ‘A’ does not know how to teach ‘B’ to sponsor, then again the structure will collapse and that’s the end of it too.

Therefore, in a team, it is imperative to teach ‘A’ how to teach ‘B’ how to sponsor ‘C’. Now, you are THREE DEEP and have successfully duplicated yourself. And the same goes for ‘A’, he or she has to build three levels deep as well to keep your team sustainable.

Finding The Best Mlm Home Based Business Opportunities

You are probably reading this article because you’re interested in learning more about MLM home based business opportunities. As an entrepreneur myself, I commend you on your research. In fact, the search for more information about this industry has grown in recent years. Why is this the case?

MLM home based business opportunities are popular for a number of reasons. Here is a glance at a few of the industry’s benefits:

1. Starting a business in this field is inexpensive.

2. Successful marketers in this business work when they want, how they want, where they want.

3. Most MLM companies don’t cap your salary. This means that, probably for the first time in your life, you could be the sole dictator of your ultimate income.

4. Countless testimonies have shown us how possible it really is to build a in this niche.

Each of these reasons contribute to the considerable intrigue surrounding MLM home based business opportunities.

What is this Type of Business?

MLM is an acronym for Multi-level Marketing. MLM is also commonly referred to as network marketing. Regardless of which name you prefer, the business opportunity is all the same. Even if you don’t think you’ve heard of a company in this area of marketing, you have probably been exposed to one at some point in your life. Mary Kay, Amway, and Herbalife are all network marketing companies.

You may have even been approached by a marketer from one of these companies before. So what do these people even do? Is this type of business legitimate? Network marketing is a completely legitimate business model in which a company allows product users to become independent distributors for the company. The marketers are compensated in a number of ways. In a nutshell, these are the most prominent ways in which network marketers are paid.

1. Commission on products sales
2. Team commission
3. Team/personal bonuses

Keep in mind that each multi-level marketing company has its own unique compensation plan.

Building a Team

As you probably noticed, the word ‘team’ was mentioned a few time previously. The team aspect is a very important part of building a profitable MLM home based business. While it is profitable to just sell the products, the really money is made in building a team. Your team is built by recruiting other people who are interested in building a business. Because you earn a commission based on your team’s, or downline, production, recruiting new distributors is far more profitable in the long run.

Because of this, I highly recommend that you use an online lead generation system if you’re considering an MLM home based business. Leveraging the power of the internet is a great way to improve a business’s efficiency.

Top MLM Home Based Business Companies

According to Nexera, these are currently the top 10 MLM home based business companies:

Amway
Melaleuca
USANA
Nu Skin
Isagenix
Forever Living
Legal Shield
ACN
Herbalife
4Life

I hope this article on MLM home based business opportunities has provided you with the information you are looking for.