MLM is hard. No matter how many Internet articles say that "You too can become a MLM master!" The bottom line is; MLM is difficult and if done wrong can do more harm than good.
MLM is about building your brand, more than selling your service or product. Your brand is, at its core, you. When I started, I hated MLM, but as I got better, I started to notice things that worked and things that didn't. Here are the top 5 things that have worked for me, across many industries.
5. Sell Nothing But Yourself
Like I said, you are your brand. It doesn't matter if you are a sales rep. or the owner, you represent the company. All networker, especially the ones you really want to talk to, can smell a salesman a mile away, if you go right into your sales pitch, the conversation will end before it gets started.
A better way is to present yourself as what you are, a representative of a company that offers brings value to everyone he/she comes in contact with. That value may have nothing at all to do with your product or service at first.
4. Understand Social Capital
Just what is Social Capital? Social Capital is rarely discussed but often used. It is simply the social contract between people that states that you take care of the relationship between those people. Basically is means don't be "that guy/girl" Every contact you have with every one you meet has to be taken care of just like you would take care of your money, because that relationship may in fact be money. Keep your promises, be willing to refer business and your Social bank account will be sitting pretty. *This is important, social capital is the linchpin of a good business relationship, but do not let it get in the way of asking for the business. Don't be doormat, and if you are interested in the business, let it be known, but don't let that be the only reason you are talking to him. More on that later though Asking for the business is an entirely different article, but I wanted to mention it.
3. Become a "Gate Keeper"
Meet as many people as possible seems like a given in the world of networking. But you would be surprised how many opportunities I have seen lost because someone didn't have a need for a certain service or product themselves in the immediate future. As soon as you meet someone, if you have a need for what they offer or not, start building your social capital with them.
Eventually, and this is an Insomniac Promise, you will have use for them. Picture this... you meet an insurance salesman at a networking event (and I promise...you will) you have no need for an insurance salesman at this time, so you take his card and throw it in the circular file at the office. Two weeks later you have a meeting with a client you have been working for months. He is still on the fence between you and a competitor. In passing conversation, he mentions that his daughter is learning to drive and he's afraid to even look to see what that is going to do to his premiums.
Crap. Not picture that you keep that insurance salesman's card and had social capital with him. You stayed in touch and even met for coffee a few times, just to check in with him. You have learned he's a good guy who goes above and beyond for his customers. Now go back to the client and his newly licensed daughter. When he mentions insurance premiums, you can say the words everyone loves to say and hear "oh...I got a guy"
That just may be enough to swing a client in your favor and put you above the competition. * This is important though, before you pass a referral, you need to know exactly how your contact conducts business. You are leveraging your social capital and your brand on his service, so be sure you trust them.
2. When in doubt, ask questions about their business
A lot of people I talk to, say they hate networking because they never know what to say to people, or they are afraid of the dreaded "strange silence." Here is a tip that I have used at every sales job I have ever had. When the conversation takes a dive, ask them questions about their business. People love to talk about themselves, and love to hear themselves talk...so its a win/win. Here are some example questions
•So what do you do?
•How did you get into that?
•What led you down that path?
•Is it fun?
Now be careful not to rattle off questions as it will feel more like an interrogation, and not a conversation. Let it flow, if you can master this...the prospect will leave with a good impression of you and you will have made a great contact by having a great conversation and you didn't have to say anything! *This is important. You have to actively listen. Head nods and verbal listening signals will help with this. Do not just wait to ask another question or look around to see if there is someone more interesting to talk to. No matter how boring the prospect is, you must not let that show. Refer back to Tip number 3 if in doubt as to why. This leads me to the number 1 tip.
1. Be Genuine
Here's a nifty concept. Actually wanting to help people and be of value to them shows. Listening to someone speak shows. Wanting to get to know people so you can be seen as a "gate keeper" shows. When networking, you are not selling your product, you are seeking relationships. Contacts don't refer business, but relationships do. Keep this in mind when networking...you're not as good of actor as you think you are. The fake interest shows through...take it from a pro. When you get to the point that you actually care about helping people and building social capital to strengthen relationships...that's a nice point to be because at that point...your network is working for you, and not just the other way around.
Hope these help, and as always comments are always welcome. If you like what you see be sure to drop by the Get in touch page and send your info for my newsletter, with a book soon to follow. I am taking suggestions on topics to write about as well. Let me know...
Insomniac out...
MLM is about building your brand, more than selling your service or product. Your brand is, at its core, you. When I started, I hated MLM, but as I got better, I started to notice things that worked and things that didn't. Here are the top 5 things that have worked for me, across many industries.
5. Sell Nothing But Yourself
Like I said, you are your brand. It doesn't matter if you are a sales rep. or the owner, you represent the company. All networker, especially the ones you really want to talk to, can smell a salesman a mile away, if you go right into your sales pitch, the conversation will end before it gets started.
A better way is to present yourself as what you are, a representative of a company that offers brings value to everyone he/she comes in contact with. That value may have nothing at all to do with your product or service at first.
4. Understand Social Capital
Just what is Social Capital? Social Capital is rarely discussed but often used. It is simply the social contract between people that states that you take care of the relationship between those people. Basically is means don't be "that guy/girl" Every contact you have with every one you meet has to be taken care of just like you would take care of your money, because that relationship may in fact be money. Keep your promises, be willing to refer business and your Social bank account will be sitting pretty. *This is important, social capital is the linchpin of a good business relationship, but do not let it get in the way of asking for the business. Don't be doormat, and if you are interested in the business, let it be known, but don't let that be the only reason you are talking to him. More on that later though Asking for the business is an entirely different article, but I wanted to mention it.
3. Become a "Gate Keeper"
Meet as many people as possible seems like a given in the world of networking. But you would be surprised how many opportunities I have seen lost because someone didn't have a need for a certain service or product themselves in the immediate future. As soon as you meet someone, if you have a need for what they offer or not, start building your social capital with them.
Eventually, and this is an Insomniac Promise, you will have use for them. Picture this... you meet an insurance salesman at a networking event (and I promise...you will) you have no need for an insurance salesman at this time, so you take his card and throw it in the circular file at the office. Two weeks later you have a meeting with a client you have been working for months. He is still on the fence between you and a competitor. In passing conversation, he mentions that his daughter is learning to drive and he's afraid to even look to see what that is going to do to his premiums.
Crap. Not picture that you keep that insurance salesman's card and had social capital with him. You stayed in touch and even met for coffee a few times, just to check in with him. You have learned he's a good guy who goes above and beyond for his customers. Now go back to the client and his newly licensed daughter. When he mentions insurance premiums, you can say the words everyone loves to say and hear "oh...I got a guy"
That just may be enough to swing a client in your favor and put you above the competition. * This is important though, before you pass a referral, you need to know exactly how your contact conducts business. You are leveraging your social capital and your brand on his service, so be sure you trust them.
2. When in doubt, ask questions about their business
A lot of people I talk to, say they hate networking because they never know what to say to people, or they are afraid of the dreaded "strange silence." Here is a tip that I have used at every sales job I have ever had. When the conversation takes a dive, ask them questions about their business. People love to talk about themselves, and love to hear themselves talk...so its a win/win. Here are some example questions
•So what do you do?
•How did you get into that?
•What led you down that path?
•Is it fun?
Now be careful not to rattle off questions as it will feel more like an interrogation, and not a conversation. Let it flow, if you can master this...the prospect will leave with a good impression of you and you will have made a great contact by having a great conversation and you didn't have to say anything! *This is important. You have to actively listen. Head nods and verbal listening signals will help with this. Do not just wait to ask another question or look around to see if there is someone more interesting to talk to. No matter how boring the prospect is, you must not let that show. Refer back to Tip number 3 if in doubt as to why. This leads me to the number 1 tip.
1. Be Genuine
Here's a nifty concept. Actually wanting to help people and be of value to them shows. Listening to someone speak shows. Wanting to get to know people so you can be seen as a "gate keeper" shows. When networking, you are not selling your product, you are seeking relationships. Contacts don't refer business, but relationships do. Keep this in mind when networking...you're not as good of actor as you think you are. The fake interest shows through...take it from a pro. When you get to the point that you actually care about helping people and building social capital to strengthen relationships...that's a nice point to be because at that point...your network is working for you, and not just the other way around.
Hope these help, and as always comments are always welcome. If you like what you see be sure to drop by the Get in touch page and send your info for my newsletter, with a book soon to follow. I am taking suggestions on topics to write about as well. Let me know...
Insomniac out...
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