How To Build A Network Marketing Business
Welcome to Hero TV. Today we have Michelle McCullough. She’s going to talk about how to grow your network marketing business. Hello and I’m excited to share this video with you about how to build your network marketing business. Now through the course of my opportunities to work with many clients and businesses over the last decade I had the opportunity to work with some amazing individuals who are building network marketing businesses. And I found some key principles that seem to be working from despite the company that they’re working for, for every individual and I want to share them with you because whether you’re just getting started or you have an established network marketing business that you want to take to the next level, there are some simple strategies that you can implement that will separate you from just testing around and seeing if this is something that you like to actually finding success. Because I know that if you’re drawn to a network marketing business it’s probably because someone you know or someone you’re aware of is really killing it and you want to know the blueprint so that you can crush it as well. I’m going to start with number one which sounds simple but really is the foundation for having success in your network marketing business and that is being clear on your why. Why do you want this business? Why do you want it to grow for you? Is it because you want to create a lifestyle business where you have the opportunity to choose your own hours? to choose your own structure? to work when and how you want? Understand that and make sure that’s clear. If it’s because you need to provide for your family and you’re going to make this a full-time business that’s important to understand as well. Knowing if you’re building a hobby or if you’re building a business is really critical and understanding that at the very beginning is key as well that you can change over time. Perhaps in the beginning you just want to get the products that you love paid for. But then you decide that you wouldn’t mind making a few extra hundred or thousand dollars a month or maybe even building a full-time business. Understanding your goals in the beginning is key because the second step is committing to hours a week. Many people choose working at a network marketing business because they don’t love working a nine-to-five yet they find that when they start to work on their network marketing business it actually takes some additional time. Now I’m not saying you have to have a full-time business in fact many network marketers are very successful in only five to ten hours a week. But the key is is that they’ve committed to that time and they’re consistent with how they spend their time. So decide, how much do you want this business to work for you? And if you know that you’re doing 10 hours or 20 hours 15 or even 40. when will those hours come? Now some of you doing this business are stay-at-home moms and you love the idea of being able to bring in some additional income to your family while also caring for your kids. I get that. And as a mom that has two kids and runs a few businesses, no one more than me understands the importance of making sure that your family is number one. But I also know that if you don’t create some structure to your time your days and weeks and months will go by without ever spending time on your business. So after you commit to the number of hours decide when you’re going to get them done. For many years I built a business what I called a myself, the naptime entrepreneur. I was only able to do when my kids were asleep so I had a little window of time from 1 to 3 p.m. every afternoon and then I worked at night from 8:00 to midnight. That worked for me. Other people will say, no I’m going to have something else happen with my kids or life from 8:00 to noon every day and I’m going to work only in the morning so I’m home in the afternoons. Whatever it is, the structure is as important as your business. So make that commitment. Sure things will change from time to time but if you start with a schedule and strategy that works for you, you’ll be more committed to the success. Here’s the key, if you want consistent paychecks you have to do consistent work. And you have to have consistent action items in your business. So the next step that is important as part of this is creating your own daily weekly and monthly action list. Regardless of the number of hours that you’re working, decide how many how much time that will be spent in regular daily activities or things that are less frequent but still need to be done weekly or even monthly items that need to happen but don’t. Are you guys building a business where you need to have a certain number of classes or parties every single month? How many will you have and when will that be? If you know that you need to pick up the phone and make some one-on-one calls, how many calls will you make a week? And here’s a secret, 50 is a magical number. From the 50 calls that you make in every single week, you’re likely to get two physical conversations that will turn into success. I’ve tried it in a number of different businesses in a number of different industries but you do still have to pick up the phone and call and have conversations and know that some will go to voicemail, some will never turn into anything and some eventually might turn into a sample and then eventually a yes. But if you tell yourself you’re going to make 50 calls a week and you make them all on Friday then you’re never going to make those 50 calls because 50 seems too daunting. So make that a daily activity 10 calls every single day or whatever your number is break it down and make it consistent. Again consistent paychecks come from consistent actions. So set yourself up to succeed by generating consistent results. Now as you think about your daily weekly and monthly list, I’d like to introduce to you what I call the five time categories for entrepreneurs. This works whether you have a network marketing business or you create a business of your own but these five time categories are important for every civil entrepreneur and every person who wants to build even a bigger business. The first one is creating time. Creating time is time that you spend in creating new products and services. Now in network marketing, you’re probably not creating your own products you’re probably getting products or even services from the main headline company that you work for or sell for. You’re creating time is in spending time creating individual packages or bundles that are unique to you and your story but still create some time every single month to create new things that are uniquely you. The second time category is what we call fulfilling. Fulfilling time if any time that you spend with a client after a transaction is made with money. Now in a service-based business like mine, fulfilling time is actually the time that I spend on a stage speaking to an audience or it’s the time that I spend one-on-one with a client or in a consultation with a team. That time that I spend is fulfilling money that has been transacted on my behalf. You’re fulfilling time is probably spending time with customers who are trying to figure out how to use the products and services that they bought with you but that time is important but you have to decide that window. I know many network marketers struggle because they spend so much time with customers that they’re also not spending time in the other important time categories. And so if you’re only meeting with existing clients, you’ll never find new clients as well. The third time category is marketing. What are the marketing time systems that you’re going to put into your days and weeks and months? We talked about your daily, weekly, and monthly activities. What are your daily weekly and monthly activities for marketing? Your calls might be included there. Time that you spend on social media might be included there. Writing blog posts, creating videos or creating social media status updates or quotes, curating that content is all part of your marketing. Decide how frequently and when you’ll get it done. You’ll be so much more effective if you make it a routine rather than a to-do list item. Marketing has to come off, of your to-do list and become part of your regular routine and schedule in order for you to get the best results. Now we’ve only talked about three so the fourth one is what I call managing time. Many time management individuals, authors, speakers, trainers, will call this admin time. I call it managing time. Because I am a huge proponent of you delegating anything that can be delegated to someone else. I love the book the 5 minute manager meets the monkey by Ken Blanchard. I read it my very first year in college and I learned in that book that the goal of every organization is to make sure that the managers don’t have monkeys on their back. And you as a business owner need to make sure that you don’t have monkeys on your back as well so you need to be willing to hire and train individuals that can help you do smaller admin associated tasks that are keeping you from revenue generating activities. For a long time in one of my first businesses, I was spending way too much time shipping and sending out catalogs when I could hire the neighbor down the street to do that for 50 cents a catalog they were thrilled that they weren’t flipping burgers and I was thrilled that I wasn’t spending that time on a task that doesn’t make me very much money. So as you think about the tasks that are in your business, don’t be afraid to hire and get help. Now you may not be able to hire a full-time employee but maybe you can hire an overseas virtual assistant to help you curate content. Maybe you can hire the neighbor down the street or one of your own children to help you figure out how you’re going to distribute and disseminate samples and put those packages together. Whatever it is, know that part of managing is managing your time and making sure the right people are doing the right things so that you can make the most money. So that managing time is critical. Instead of spending your time on those admin tasks that don’t bring you revenue, find someone else that you can manage to do it for you. Now that fifth task is learning. I think every entrepreneur, every professional, every business owner and even every stay-at-home parent needs time every single week to learn and to grow. Our ability to grow and develop and to become better humans exist in our time that we spend learning something new. Like watching this video or reading a great book. Spend time learning every single week. Keep up on the industry that your business is in and keep up on information on marketing and business and communication and leadership. Now you don’t have to spend all of your time doing that. It’s probably only about 10 percent of your week but make sure that learning is part of your regular routine and as you consider these five different time categories, you’ll set yourself up to succeed because your time is spent in the right place. You know I’ve watched a number of businesses over the last ten years as I have consulted companies large and small all across the country and throughout the world and it’s interesting because I have found something that is really unique and that I was surprised at I thought that the secret to growing a gigantic business was having investors and having their nest money in the bank. But it’s interesting because I have found companies that have had tens of millions of dollars squander it away because they wasted their time and I have found people with two dimes to rub together to start a business that have now made millions because they invested their times in right way. You do not have to have tens of thousands of dollars in the bank to make your network marketing business successful. What you do need to understand is that time is the currency for you to get the results that you need. I tell my clients that time is either your greatest asset or your greatest liability in your business. And so as you invest your time in great ways you’ll find even if you don’t have lots of money to get your business off the ground, if you invest your time in these five time categories you will find great success in this business and any other businesses that you choose to start overtime. So I wish you all the best in your network marketing journey and whether you are rocking it now or you’re getting ready to rock it, I know that you are steps away from finding the success and the lifestyle that you deserve but I hope you’ll set yourself up to succeed and make it happen. Thanks so much Michelle for teaching us these five tips. Number five was learning. That’s what Hero TV is for. So you have to subscribe because that will that will be one of the five steps here. Remember to live on purpose, make a difference, and be the hero.