6 Principles to Make 6 Figures In Network Marketing
In Network Marketing, we always use these six principles to build our business to six figures and today I actually want to review it for you.
Today's content is going to be so valuable, the six principles that I used to build my business to six figures and it's duplicatable for you too!
It's a little old school but it can be applied even if you are building online.
In this episode of Benjamin Pang LIVE, I'm going to share with you what we call the Six Principle Cycle.
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The Six Principle Cycle
Principle #1 - Create
We always start at number one which is to create.
If you have a piece of paper write it down, Create!
When you first start the business or you want to jump start your business, for the next 90 days the first thing you need to do is to create a name list.
If you hate it, you've heard it a thousand times, you have to forget what you have learned before and just do it!
If success is important to you start from number one and create your name list.
How Do You Create A Name List?
Eric Warner has a great guide on how to create a name list. Leave me a comment and I'll send you that exact guide!
In the meantime, think about friends and family... write their names down.
Write the names down of your neighbors, your co-workers, your consultants, your accountants, your lawyer... write all these down!
I didn't approach a lot of my warm-ups because they were already exposed to my business but don't be afraid to write them down anyway.
The purpose of the name list is to have it on an actual piece of paper. This brings us to step two.
Principle #2 - Analyze
Number two is to analyze the name list.
A lot of people get the name list and they have phone numbers or contact information on it.
Then they start you know reaching out to those people without thinking about the approach.
But some people see you differently, some people might see you as just a regular nine to five person.
(No offense, I'm a nine to five guy too, so when I first started a business, people don't think, didn't associate me to a business owner.)
I told them I started a business and they're like "What?"
Make sure you analyze the approach.
They might be interested in the product that you have and that's great because that can help you to generate revenue right from the beginning and it will lower their resistance!
If they like it, they have a need for it!
Analyze your approach, whether it's a business approach, or product approach or even a referral approach.
Write it down so that you know what to say when you actually call them.
Principle #3 - Call
Network marketing is always about teamwork and it's a lot better to do it with a team, with a group, rather than doing it by yourself.
Even if your team is further away nowadays with a webinar, with a video call you can do like a six people group call!
You can do a call workshop with the team.
If people are afraid or there's a new partner, maybe they are afraid of calling the list. You can start first being the leader or maybe you are the new partner!
You can actually see how other people screw up or do it right... it's not like you have to perfect at it before you take action!
You can see a lot of people get in the business but they have fear also. You can see how normal it is and you will immediately think that you can do that as well!
If someone else can do it that bad and they're making money, you can do it as well!
Always start it with a team in a call workshop.
Principle #4 - Expose
Number four is to expose the product or company.
Now you've called them and of course you want to invite them out to a one on one, two on one, maybe a hotel meeting. Or maybe it's a webinar. A webinar showing the plan...
Either way, you're exposing them to the business.
You have to talk to your upline, your senior partner, your team to see what's duplicatable in your company.
Every company, every team does it a little different so definitely discuss with your upline on how to move forward.
How are you going to expose your business or product to your customer or potential business partner?
For me, I leverage one on one meetings, no matter if it's a video call on the internet or face to face.
I do it because that allows me to know who they are. And allows them to know who I am also.
If they can see me, see my body gesture, hear how I sound, it's so much better than just talking on a phone.
Another Exposure Option!
When we expose the product, we can also do product samples.
There are a lot of samples that you can actually demonstrate how the product is and seeing is believing.
Being able to show them to demonstrate how the product works - this is top. And leads up to number five - question and answer - Q and A.
Principle #5 - Question and Answer
This is a very important followup process.
If currently you are not doing any followup, are you just waiting for them to get back to you?
Basically book a followup no matter if they have questions or not.
People have questions and maybe they just don't know it yet.
Even so if they are skeptical you can still book a followup and say, "Why don't we discuss it? Might be that you can refer somebody to me or I can actually show you more of the products that we have."
You could say, "I know that you're not interested in the business but I think this product is going to help you a lot."
It's always a benefit to them, you need to find and give them a benefit.
Why are they coming out to the followup? Either to answer questions that they have on the business or to show them a product that can benefit them.
Not just to showcase, "We got all these great products, buy one."
You want to figure out which of the products will have a benefit for them, so they actually want to come out for more information.
Now you've gotten them interested, what's next?
Principle #6 - Convention
I want you to put two stars here because this is where the magic happens!
You've created your name list, you've analyzed your approach, you've called them and exposed the to the business and you've gotten a great follow up. Now what?
If you don't bring them to the next big event or company event convention, your business is not going to grow. I hate to break it to you but your business is not going to grow.
Convention is where a lot of the people see the bigger picture of the company.
This is Where the Magic Happens!
At a conference they will see the millionaires, people making money in the business, people making money thar have the same background as them and that's the most powerful part.
Seeing is believing and being able to associate with somebody is key.
I am a software engineer and maybe I see a guy, a software engineer... He has no business experience, hates talking to people, hates talking on the stage, hates networking...
BUT he was able to follow the simple system and make it. Just picture seeing that!
A guy or a girl in the exact same background and they're making it and maybe it motivates them.
Maybe you have been doing it for a long time and you're like "Dang, I should be on the stage!"
This is where the magic happens! It's never about who is there, it's about what they can get out of there!
You got to bring new partners or your entire team to the convention, including yourself.
Next Principle? Cycle Repeat!
Now after number six, you repeat the cycle because now you have more partners, you have a team.
You duplicate the whole cycle until you get the six figures and it's that simple.
These six steps create, analyze, call, expose, Q and A, convention should be all in your dictionary.
It should be in your brain and in your team culture to duplicate this.
The only six that you need to build your team to six figure residual income!
I learned it from other big leaders and this is a proven concept of six principles.
You can learn more by clicking on this Attraction Marketing Formula Course to help you put these six principles to work for you!
I didn't talk about anything specific like company specific or product specific.
You are exposing, continuously exposing, the business or product but not by name.
You are leveraging the system and that's why you don't have to think about how to expose the business by name.
Your upline or your company should already have a system for it. There is a lot of training on how to call people and to do a followup and then bring people to convention.
This is how I built my business as well and if you have any questions about any part...
- Creating a name list?
- Analyzing your approach?
- Structuring a call workshop?
- How to expose the business without the name?
- How to follow-up?
- How to get people to conventions?
Let me know in the comments!
If your team has the perfect system that's great, keep following it!
BUT maybe you'll want to add something that is not in your duplicate system right now. These six principles are huge huge huge for your business!
Is this helpful? Now you will know how to make 6 figures with these 6 principles!
Feel free to share with your team so they can be more productive in their businesses as well 😉
Hope to see you in the next training, and have a good day!
Network Marketing & Social Media Coach
PS. Looking for advice on building a personal brand? Click here to chat with me! =)