There are 5 fundamental action steps to building your business. These are the five simple steps you will master. With these each of these steps your objective is to learn the step, take action and perform the step, and then turn around and successfully teach that step to others. We learn, do, and reach.
With any new skill you are trying to learn, give yourself permission to fail a few times before becoming skilled and natural in applying it. A failed attempts doesn’t make you a failure. It makes you better. It’s a life way of revealing the important lessons we are to learn. Practice, repetition, and experience always come before expertise so focus initially on quantity. Just get out there and get some experience under your belt first.
Once our level of activity becomes a habit and you gain experience, shift your focus to quality. What do you need to fine-tune to get better results ?
Learning new things can be frustrating at time if we don’t keep ourselves in the right perspective. Take your business seriously, but don’t take yourself too seriously. Learn to laugh at yourself, have fun, and trust your ability to improve with experience.
1. THE NAME LIST
The first action step to building your business is developing your name list. Our business is driven by word of mouth, period. Our business grows when one person talks to another person.
What’s unique about network marketing industry is that if you want to reach a million people, you don’t have to go out and personally talk to 15,000 people each year for 66 years. Rather, you can develop a team of people who share in the task, benefiting from the results proportionately. A hundred people who each add 10 people, whoso the business idea 15 times per month, would reach a million people in 5 years. Get the idea ?
So why do we have to write people’s name down on paper? As long as they’re accessible, why bother? For one, it’s always best to keep information out of your brain and on paper so you have room to think. It’s also a good way to keep track of who you’ve called, shown the plan to, left materials with, etc. Remember, we’re not planning a social; we’re building a business.
Left the Chance, the people who do write out a names list write down less than ten names. Left to chance, those ten names are the least successful people they know. And left to chance, those people won’t be teachable or motivated, they won’t build the business, and your team will not grow. So set your team up for success by leaning, doing and teaching a written names list.
Helping people make a written names list is a simple task that pays big dividends.
Don’t prejudge anyone. Sometimes people avoid writing down the names of people who they think already “ have it all.” Remember that just because someone has everything you want doesn’t mean that they have everything they want. And just because someone doesn’t have much doesn’t mean that they aren’t ambitious. Until a person comes face to face with this business opportunity, there’s no telling what they’ll actually do.
Our minds tend to compartmentalize information so it’s easier for us to think of people in categories like: friends, family, work, school, gym, workout, association, clubs, sports, music, networking group, online community, neighbors, church, temple, cultural.
Starting with the first category, write down all the names of the people who come to mind. When you draw a blank, move on to the next category, and then the next until there are names filled in for each category.
The goal is not simply to have a list, but to get names off the list. Names lists should be dynamic, constantly moving, and changing.
The second action step is where we invite people to see the coolest business idea on the planet! It is also refereed to as the “contract.”
This step ramps you up for the main event and has a direct impact on your results in the business so It’s hugely important to develop strong confidence in this area. Be yourself, have fun, and prepare, prepare, prepare.
To prepare for the invite, start by writing out a script that can be easily followed. Here’s an example of a basic script for the invite:
- Clear the time
“Am I catching you at a bad time or do you have a second?
- Purpose of the call
“I’m working with a friend of mine who’s expanding a business project.”
- Are you looking?
“He/She is looking for a few key people. If the money was right and it fit into your schedule would you be open to looking at a business idea?”
- Set an appointment.
“What nights the week do you already have commitments?”
- Confirm the appointment.
“I’m writing this in my calendar, are you writing it in yours?”
In addition to the script, write out responses to these
Three common questions:
“What is it?”
“Can you tell me more about it?”
“I’m too busy. I don’t have time.”
Remember that the whole purpose of your invitation is just that: It’s an invitation, not information You’re not calling to explain the business you’re calling to set up an appointment. The appointment is where they will get the information.
Here are some great questions and phrases that will help you redirect a conversation:
- “Do you ever consider other ways of creating income?”
- “If I know a way you could ____________ (achieve a specific dream/benefit of a product), would you want to hear about it?”
- “How would you like to participate in a business project that has the potential to be bigger than Walmart?”
- “Do you ever look at business ideas?”
- “Did you know that there are hundreds of companies that will pay you to buy their products?”
- “If the money was right and it fit into your schedule, would you be open to looking at a great business idea?”
- “This could be a long shot, but a friend of mine is looking to fill a few sports on a business team and I thought of you.”
- “I have a expert in i-commerce coming to my home to cover all the details.”
- ‘I can’t promise you anything.”
- “A friends of mine is expanding a business and I promised him I’d keep my eyes open.”
- “I’d like to consider you as a partner on our business team.”
- “The more I’ve learned about this, the more I thought you may have interest or qualifications.”
- “Id love to give you a shot at it.”
- “How good are you at keeping your appointments?”
- “Can I save a seat for you?”
- “Can I mark you as definite?”
- “Are you just curious, or are you really looking?”
- “I’m writing this in my calendar, are you writing it in yours?”
- “This will be something that both you and yours spouse will want to see. Will he/she be with you?”
- “Would your spouse be involved in your decision to buy a car? Then shouldn’t he/she be involved in this type of a business decision?”
- “I won’t have time to explain it twice so I’d highly recommend that your spouse be with you.”
- “We’re looking to get this team assembled in the ext two weeks and I’d really hate for you to miss out on this.”
3. SHOW THE PLAN
Showing the business plan is what ignites the engine of our business. It’s where we get the business in front of fresh eyes and possibility comes to life.
Here are a few pointers to make the most of your home meetings:
Dress for success
Men, wear a coat and tie; women, wear a business dress, a skirted suit or a saree. This informs your prospects that you mean business.
Room set up
Set up chair only as needed to avaoid a room full of empty chair. The presentation should be opposite the door to avoid interruption in case of any latecomers. Keep the room cooler than warmer to everyone is alert.
Get rid of distractions
Turn off the ringer on your home phone and ask your guests to turn off their cell phones. Have children and pets in a separate room with a sitter so that they do not interrupt the meeting.
Cater to the speaker
Save a parking spot for the speaker and assist him with any materials he may have when he arrives. How your prospects see you treat the speaker has impact on whether they think he is worth listening to.
Keep your refreshments simple
If you serve fancy hors d’oeuvrs people may think they will have to do the same to build the business. Instead, serve refreshments from your business to keep it simple. These products will also generate future volume as people are going to want to order what they sample at the meeting.
To begin you meeting, share your excitement and your commitment to this business. Let people know that this isn’t something you’re just thinking about; you’re focused, you’re committed, and this is your ticket to achieve your dreams. When you introduce your speaker give home credibility and put your stamp of approval on him so he doesn’t have to spend his time selling himself instead of the plan. Don’t thank your friends for coming over – instead, during your introduction, thank your speaker for coming to your home and sharing the opportunity.
Focus on the plan
Don’t run around taking care of refreshments or anything else during the meeting. Be excited, engaged, and involved in what the speaker is discussing.
Take ownership of your business as soon as possible and start showing the plan yourself. There’s no need to put unnecessary pressure on yourself to get it absolutely perfect. In fact, if your plan is any good at all the first time you show it, you’ve waited too long! There’s an old saying in the business that you can never show the wrong plan to the right person. In other words, it doesn’t matter how bad you mess up the plan when you’re showing it to someone who is teachable and motivated. So long as you convey opportunity, the right person will find their way to the information they need.
Research has shown that most people’s Primary Motivating Factors for getting involved in this business are one of the following:-
Have own business
More spare time
Meeting new people
Leave a legacy
4. FOLLOW THROUGH
Follow through is the process that begins after your prospects sees the business plan. There are many situations you will deal with in the follow through so they key is to be prepared and to remain flexible. 10% of the people you show the plan to will say. “Yes” no matter what you say or do. Another 10% will say, “No” regardless of who shows them the plan. The remaining 80% will sway either way depending on what you do.
At your follow through meeting you’ll want to revisit their dream, determine their level of interest, and answer any questions of objections they may have, build their belief, and get them started in the process of building their business.
Your initial follow through meetings should happen within 24 to 48 hours after you show your prospect the plan. That is your window of opportunity when excitement level are at their peak and possibility is still fresh in her mind. It’s always best to meet face to face, but if that’s impossible connect with her by phone.
REVISIT THEIR DREAM
At your meeting be awake, alert, and excited because you’re helping someone start a business.
We don’t use people to build our business; we use our business to build people. And you can’t build people or help them move forward in this business without understanding what’s important to them.
DETERMINE THEIR LEVEL OF INTEREST
One you reconnect with people and bring their dream back to the forefront, it’s time to determine their level of interest.
Questions like, “Where would you like to see yourself with this?” or “What did you like best about the materials I left you?” or “What do you say we go ahead and secure your position on the team?” will help you determine their readiness to get started in the business.
ANSWER QUESTIONS AND OVERCOME OBJECTIONS
When you’re faced with prospects that have questions or objections, listen to what they to say. Unfortunately, not all prospects are as transparent as we’d like them to be so our questioning, listening, and persuading skills will be especially valuable here. When faced with objections, we don’t want to discount our prospect’s concerns, prove him wrong, beg him, or shrink away with our tail between our legs. What we want is to understand where he’s coming from so we can get to the heart of the matter and help him.
You will find that there are about half a dozen objections that people will give you. They don’t have time, they can’t afford it, they don’t like to sell, etc. Learn and practice your responses. Good answers to some of the more common questions and objections are outlined for you in the last section of this Post.
For example: if someone says, “I don’t know enough people to make this work.” Your natural instinct may be to tackle that issue immediately. But if instead you ask, “Aside from knowing enough people are there anything else keeping you from getting involved?” You can then uncover all her concerns and tackle the most important one first.
BUILD THEIR BELIEF
Throughout the follow through process you want to build your prospect’s belief. “I think we’re going to make a lot of money together.” “I think we’re going to have a lot of fun building the business together.” Remember to talk in terms of what’s important to her. “I think… I think… I think…” While her belief is fragile, give her the reassurance she needs by affirming her decision and verbalizing your belief in her.”
START THE PROCESS
So far we’ve discussed the process of making a names list, inviting, showing the plan, and following through. You’ve performed these steps yourself.
Just like the plan, we want to keep things simple. If there’s any confusion or hesitation on your part, doubt will set in. And when there’s doubt all activity ceases, so keep it basic. All we are trying to teach people to do is learn a process of five simple steps (names list, invite, show the plan, follow through, repeat the process) that, when repeated enough times, they can turn around and teach someone else how to do the same. It’s that simple.
5. LEADERSHIP & DUPLICATION
The founding philosophy of any business in our industry is one word: duplication. Duplication is the goal, duplication is the magic, and duplication is what will allow you to live the life of your dreams.
If the only way you learn how to make your business grow is through your efforts alone, then the only things you have is a glorified job because it won’t work without you. Growing your business beyond the extent of your own physical effort requires duplication. And when it’s done right, duplication equals paid freedom: getting paid continuously while having the freedom to live the lifestyle of your dreams.
The truth is, whether you decide to lead or not, the people on your team are going to look to you for leadership.
If you want a great team, be great. It’s that simple. Looking at the leaders in our business, here’s what you’ll find they’re committed to:
80% of success is just showing up. Your team cannot count on you without your predictable presence in the business.
Associating with your leaders is also the fastest way for you to succeed. Studying people who have already paid the price to learn the things you need to learn, and doing what they do, saves you the time and effort of having to learn it all yourself.
Guess what? You are in a word-of-mouth, sales and marketing business where your profitability depends on you. You are a walking, talking advertisement for the products and services you market.
If you’re not teaching your team about product loyalty and profitability, you’re setting them up to fail. There is not profitability without product volume in this business and if you’re not setting that expectation upfront, you’re missing the boat on profitability.
Talk a little louder and prouder about what you’ve got your hands on. Focus your promotion on what makes your business grow and profit: meetings and training events, team goals, unity, fun, excitement, profitability, and making a difference. Don’t waste your words perpetuating problems, focus on finding solutions and creating a positive buzz within your team.
Many of us aren’t accustomed to stretching and growing when we start our business. Perhaps we’ve spent years in a position where we simply repeated the same things over and over again without ever being challenged to move outside of our comfort zone. When we begin building this business, we find that our old comfortable patterns don’t apply so well. We realize that if we are to succeed we’ll need to do things we’ve never done before.
In business there are ups and downs. Some day you’ll feel like the whole world is against you and other days everything will click and turn in your favor. A leader feels the same emotions we do when we’re in the thick of a down turn. But rather than getting wrapped up in every moment, rushing to judgment about their business with every turn of events, a leader concentrates on the big picture.
Instead of basing their success on the outcome of any one meeting, they evaluate their overall progress after showing a series of meetings. Rather than “crying it out” for a month, they commit to giving it their honest effort for a year. The real business man have to keep going, keep moving in the direction of his goals, despite the circumstances that surround him.
WORK TOWARDS A GOAL
If you don’t have goal, you’re going to hit it with amazing accuracy. Sit down with someone on your support team and talk to him about what you want to accomplish.
A goal left underachieved for long will no longer motivate, but De-motivate you. Change it up, break it up, or focus on a different angle – just keep trying and reset new goals.
You are responsible for your business, your team, your growth, your relationships, your finances, and your circumstances.
Want a raise? Go earn it. Want more excitement at the meetings? Create it. Want better leadership? Become it. It’s your business. Support in this business is not something you have a right to; it’s something you’re blessed with. Be grateful for what you do have a take responsibility for creating the change you desire.