Monday, May 25, 2009

Developing A Business Mentality is Key to MLM Success

So you found the MLM business you want to get into, great products you can believe in, a lucrative compensation plan, impressive training and marketing tools. You have a real connection with the person who will be sponsoring and mentoring you. The company is just beginning to hit the explosive growth surge that will make it's distributors a fortune over the next several years. All the ingredients for success seem to be in place. It truly is a "right place, right time" opportunity. But none of this matters if you don't have the right mindset, if you don't enter into it with a business mentality. Without that key ingredient, you are destined for failure.

Too many people get into MLM thinking it will be all sunshine and roses. They're told that the product and business opportunity will "sell themselves." All they have to do is show it to people and they will be beating down the door, to get in. The truth is, good products will sell themselves but not everyone is going to buy. And when it comes to sponsoring new members, things can become even tougher. If you don't have a business mentality, prepared to deal with hearing the word "no" more often than you will hear the word "yes," you will quickly become discouraged and quit. Rejection is part of the game so you need to be prepared for it.

Another problem is what I call the "Hobby Mentality." Hobbies cost money, businesses make money. But all to often, people get into an MLM and don't take it seriously. If it takes off right away and makes money, great. If not, it's on to something else. MLM success takes work. It requires training, planning and preparation, goal setting and taking deliberate action. It requires time spent talking to people, getting your product and opportunity out there so others can see them. Success not going to just happen, it's the by-product of hard work and determination. You have to DO something if you want something to happen, even with today's online automated tools and systems. They won't work FOR you unless you work WITH them. And success takes time to achieve. It won't happen overnight.

In summary, if you desire MLM success, long term residual income, financial freedom and security, find a good MLM with a profitable compensation plan and products you can believe in. Then if you don't have one already, you must develop a business mentality. Educate yourself, set measurable goals, expect and be prepared to handle the ups and downs associated with any business endeavor and grow a thick skin so you can handle the word "No." Be prepared for the long haul. Business is a marathon, not a sprint. Do this and you will achieve MLM success.