In the MLM industry, you are only as strong as the weakest member of your team. Some of you may be thinking the biggest network is the best network, but that is absolutely not the case. You wouldn't hire an unlimited number of unqualified people to run any business. So why would you do this with your network? In this section, we will discuss how to determine prospects, organize them, and engage them with the best possible strategy.
The best way to increase your profits and build an effective network is to devise a comprehensive plan that assesses who you should engage, you level of familiarity with them, and their level of influence on others. Doing so will set you on the path to creating, not a random network, but a strategic network.
The very first thing you should do when devising a prospecting strategy is create a list of at least 50 people that might be interested in your business. It's important not to prejudge any of the people on this list. Don't think that just because someone is in a certain situation that they couldn't possible be interested in other opportunities. Simply make the biggest list you can, as quickly as you can.
There are three different markets you will be working with throughout your MLM career. You can call these markets anything you would like but, for this explanation, we'll use Warm, Common and Cold. Your Warm market consists of your close family and friends. People you are the most familiar and comfortable with. Your Common market consists of people you are acquainted with but wouldn't consider especially close. Your Cold market is the people that you don't know yet.
Now, take your list of 50 or more prospects and divided it into two groups, your Warm and Common market. Obviously, you can't make a group for you Cold market because you don't know these people yet. Creating these two groups is a good start in determining whom to approach first, but these groups can be further broken down to reveal a more effective strategy.
Now that you have your Warm and Common markets established, let's break them down into three subcategories, based on a person’s capacity to influence others. You may call these groups anything you would like but, for this explanation, we'll just go with Green, Yellow and Red. Your Green group should consist of people you find particularly accomplished and have a high capacity to influence others. This group might consist of your employers, mentors, community leaders, etc. Your Yellow group should consist of people you closely identify with in terms of influence. This group may include your coworkers, friends, neighbors, etc. Your Red group should consist of people who have less influence than you at this point in their lives. This group may include people you employ, mentor, etc.
Now that you have assessed your level of familiarity with each person on your list, and their level of influence on others, you can better create an outline of the people you want to focus on and what order you want to engage them in. If you don't have any previous experience in sales and networking, this practice will be particularly helpful with retaining these skills. If you do have previous experience of this sort, you may feel comfortable engaging prospects in any order, but keep in mind that there's a learning curve to selling any product.
Obviously, you will want to start with the people you are most familiar with, your Warm market. Additionally, you should make it a point to first engage people in the Red group of this market. Doing so will give you the opportunity to gain experience with people you are comfortable with and have influence on. Furthermore, the inability to enroll people in this group is not the greatest lose for your network.
What you are essentially doing at this point is practicing. Also keep in mind that, because these people are in your Warm market, there may be other opportunities to influence them in the future. Once you have gained some experience with your Red group, you should feel more capable and proceed to engage the Yellow and Green groups in your Warm market.
One thing you should start practicing and become efficient with while working with your Warm market is scheduling appointments. This practice is vital in keeping your business organized and demonstrates the level of professionalism required to effectively engage your Common and Cold markets. You should be diligent about this. Because you usually behave casually with your Warm market, you may be inclined to arrange very casual meetings at nonspecific times. Doing this will not allow you to develop a very professional presentation that works under the time constraints you’ll encounter while engaging less familiar markets. It will only lead to bad habits and unprofessionalism.
Now that you have some scheduling and presentation skills under your belt, you should begin to engage people in your Common market. Again, you should probably start with the Red group of this market, just to get further experience before engaging the Yellow and Green groups. Keep in mind, these groups are the most valuable and most difficult to persuade. So before you engage them, you should be able to conduct yourself like a pro.
Ultimately, the best network to have is one that consists of many people from the Green and Yellow groups of your markets. Furthermore, it is additionally fortunate to enroll people from your Common market because they effectively expand the reach of your network. This doesn’t mean you shouldn’t care about your Red group. Someone in this group could turn out to be very successful. This is just a method to determine whom you might particularly focus on and how to engage them. If all goes well, you should wind up with a network of highly motivated and influential people.
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