MLM Business Plan

MLM levels the playing field of income opportunity; it is the fairest way for everyone to generate income. It gives the common person the real opportunity of actually creating wealth. Yet it has a staggering 97% or higher failure rate. Why, well there are several contributing factors but the core of it all is that people do not treat their MLM business like a REAL Business; they treat it like a mom-n-pop corner operation.

If you were to go into a lending institution and planning on asking for a small business loan they would ask to you see your business plan. If you don't have one or if you do have one and it is not sound - they will not lend you a dime! And yet so many people take such a reckless risk with their own money and invest in an MLM opportunity and don't write an MLM business plan.

Making any business plan is all about "the future" and how you are planning on achieving your success. You can not find the treasure without a treasure map!

Your MLM business plan is your businesses foundation. Ask any builder, if the foundation isn't solid, the building won't be either.

Having a detailed business plan not only show's your professionalism but will also guide you step by step in achieving your goals and avoiding major mistakes.

In Any Business you have a product/service and you need customers who will consume your products/service to make a profit, so -You Are In Sales!
I know people are told all the time "I'm not is sales I am in sharing" - baloney!

That is the coward's definition of being in an mlm business. Anyone who tells you that it is not sales is not being honest with you, undermining your intelligence and does not have confidence in you or your abilities.

STOP - I know you were probably told "make a list of 100 friends and family members and you are ready to start building your thriving business, just start talking to people and in just a short time you will be retired living on your yacht in Cabo san Lucas".

I am here to tell you that approach is directly linked to the 97% failure rate. That is the Dark Age mentality; there is a more professional approach that is taking mlm success to new levels!

You don't see doctors asking to schedule appendectomies while you are in for your annual check up's, or Car salesman asking you to sign up for a video rental plan while you are buying a new car...

You know they are in business because they told you so - through communication methods - and when you need their product or service you go to them right?

It should be the same in MLM as well, don't waist time and effort talking to people who have absolutely no interest in your product or service.
A MLM Business plan is all about getting your unique message out to potential customers (target Market) and then they come to you!

*First you need to assess your product thoroughly; strengths weaknesses, who would want or need this product/service? who would benefit from this product or service? -Write these out, this identifies who your target market is-
Let's Get Real - not everyone is going to be your customer and not everyone will want your opportunity!

*Second study your target market; the size of the market, demographics like age gender and income levels, life styles, how do they spend their spare time

*Third identify - Who is your competition; this can be companies with same or similar products/services in all industries - not just mlm, and also every other independent marketer out there as well.

Tip- there are thousands and thousands of marketers all out there competing for the exact same sale as you are, distinguish your self.

*Fourth develop a plan to get your message out to your target audience - if people don't know you are in business then you're NOT really in business. You will need a Marketing and Advertising plan to get your message out to your potential customers.

*Five situation analysis; budget, time, skills, knowledge and experience, education, tools and resources, support and mentoring, goals and setting realistic expectations, projections on how long it will take to turn a profit.

*Six execute your plan; knowledge is not enough you need to take action - no one will do it for you.

People - In any business you need customers and people to talk to especially in network marketing this is knows as leads. You can purchase leads and most people do but do not have a high success rate because of a combination of things like; poor quality of leads, not targeted for their products/services/opportunity, they have poor skills in communication, they do not have the proper tools in place to get conversion.
You can do the make a list method which we talked about... Or you can specialize in "covert special opt missions" at the grocery stores and PTA meetings to try to stumble on some prospects.... you can generate your own pre-qaulified leads! There is no higher quality lead than one you can generate yourself. Generating leads is not rocket science and makes the difference in your success or failure. You need to be able to communicate your own unique message to your potential prospects, that is why people will buy from you and join you in business. Not because of your product or service - that is secondary. You need a website and a blog.

Money - is the #1 reason why people fail. The reality is that people start a business because the want to make money! Most people can not afford to fuel their businesses out of their own finances over a long period of time. Turning a profit is key and yet virtually impossible to do if you do not understand the benefits of having multiple streams of income and making money off of your own efforts.

Skills - are a deep subject with so many different areas. You need skills in talking and communicating with people. You need skills in business and marketing. You need to gain technological skills. You need skills in being able to have an open mindset for learning
and progression. You also need self skills, determination-motivation-drive....

Action - is what gets you off the bench and on the court. Most people in MLM don't take any action or do the wrong actions and/or do a whole lot of the wrong actions. Action is what builds your business. You need to be taking aggressive, effective and consistent action when building your business.

Duplication - You not only need to take aggressive and effective action but your team does also, that is called duplication. You can recruit until the sun goes down but if you can not get other people to duplicate you will not have a business with longevity or perpetual income. Most people do not duplicate because the mlm business plan they were shown is rickety at best and they do not feel equiped to accomplish the task.

Consumption - Long term residual income comes from the consumption of product; if you do not have people consuming product on a consistent basis then you have nothing more than a hollow fragile shell with no muscle. Get people on auto-ships and using the product on a consistent basis so it becomes a fundamental part of their everyday life.

Retention - is the cancer of mlm. You need to have loyal customers and team members who stay engaged to keep the pulse pumping through your business. It is much harder to get a new customer/team member than it is to keep one active. Without people you have nothing. Have a retention strategy for not only your customers but also your team members.

Plan for success, have fun and enjoy the ride.