Goal Setting in MLM and Network Marketing
I have coached thousands of clients over the past 10 years, many of whom were just starting out in a part-time home based business. It is estimated that at least 50% of Americans are involved in a home business.
In the beginning, the vast majority of clients I coached were people who still worked a full time job but were either dissatisfied, had a desire to be near their children, set their own schedule or wanted to create another source of income with no ceiling and no boss. Every single person desired more freedom.
The fact is that any and all of these reasons are great. Your own internal reasons are always the best motivators in life.
One of the easiest businesses to start at home with minimal investment is in network marketing. Sometimes referred to as MLM, they used to get a bad wrap, but they can be the perfect starting point for someone who is a newbie entrepreneur. I don't know of any other business that a person can start with less than 0 and be provided with a built in support system and unlimited income potential. Your support system is your upline, the company and it's support staff, training materials, marketing materials, and a proven product line.
One crucial key is choosing a company that is right for you. My first and only experience with Network Marketing was with a wellness/nutrition/weight loss company. I watched a friend who went from to making ,000 per month within just a few months and that was all I needed to take a closer look.
I thought, if she could do it, then I could do it.
My friend agreed to mentor me and away we went! A nutrition/weight loss MLM was a perfect fit for me because I was a fitness fanatic. I was always outdoors, went running daily and lived an active lifestyle. I was inspired because I would actually get paid to help others get healthy. It is incredibly emotionally fulfilling and financially rewarding AND you get to make a major positive contribution to people's lives.
Goal setting was easy for me when I first started. In fact, my goals were downright primitive. I needed to earn $_____ to pay the bills, so I needed ___ many customers in order to achieve that. I did have larger dreams of wealth, but my immediate needs were to provide for myself.
As I grew in my business, I needed to look at the bigger picture of creating a residual income by building an organization and mentoring my downline to achieve the results they were seeking.
Fortunately in my company, the marketing plan was easy to learn and follow and provided it's own goals to strive for. When a person reaches a particular milestone, there is another step, another goal inviting you to achieve it, with a hefty financial bonus waiting for you when you succeed. Your residual income only rises when you are helping others simultaneously reach their goals and achieve success.
Your next major goal is always to reach the next level in the marketing plan. You will inevitably reach the next level when you are helping others reach their next level! As you grow your business, you are constantly learning, growing as a legitimate entity in and of yourself, and growing your business skills and strengthening entrepreneurial muscles.
The key to goal setting in MLM is to focus on the marketing plan and whatever the next step is for you in it. Then you can break down your monthly goals into weekly goals and break the weekly goals into daily goals in order to achieve it. Figure out how many customers and new prospects you need to serve in order to achieve your goals and then go do it.
One of the biggest skills any MLM'er can learn is how to keep accurate gauges and stats of their business on a daily business. It is the only way to know whether or not you are on track to reach your goals.
As you progress in your MLM home business, the three most important factors that determine your success are:
Since you no longer have a boss directing your day's activities, it's easy to get off track. You must have a 90 day plan and a daily method of operation that are tied to your goals. Your mentor should help you until you master this and if you are fully investing yourself into your business, your mentor will be standing by to invest in YOU!
The finest network marketing companies will train you and actually groom you, so that over time you will become a super successful entrepreneur in your own right. My mentor helped me to grow faster than I ever knew I could.
I was a kid from the south side of Chicago who knew nothing about business when I started. But with a good mentor who held me accountable, a reputable company with amazing, in demand products, and with my own desire and commitment, I rose to the top 2% of the company of over one million distributors in dozens of countries. It's easy to get comfortable and stop growing when you reach that level. I had a huge house, two cars, got to travel and often this is where complacency sets in. It is easy to get comfortable here. Goals at this point are just as crucial as when you first started out. Having a mentor and a coach can help you set goals that are right for you, regardless of the level you currently reside.
I never would have achieved a six figure income that quickly without all of those ingredients. I had my own goals of income and production that I wanted to achieve and then I had the goals and the extra incentives and rewards the company created in it's marketing plan and promotions. Consistently setting goals within the company's marketing plan always kept me on track.
One major secret to my success was that I sought out educational and motivational products and newsletters, like the one you're reading now. When you run your own business, you are part of a team but you are always 100% responsible for your own success. Rising to the top requires investing in yourself. This includes reading on a daily basis and listening to motivational audio programs on success, personal growth, leadership, goal setting and time management.
There used to be a stigma attached to MLM. These days, one of the smartest moves you can make is to start a MLM home business. There is minimal investment, outstanding proven products, training and materials, you set your own schedule, there is real potential to quickly earn hundreds of thousands of dollars per year, and you get all the benefits of owning a business without all of the overhead of creating it all yourself.
So work with your mentor, keep your eye on the marketing plan and set goals that will enrich your life and the lives of others.
In case you're wondering, I'm still in madly love with my MLM and their products have been an integral part of my life since that very first day!
Cheers to your health and wealth,
Live Your Dreams!
About the Author: Jill Koenig, the "Goal Guru" is America's Top Goal Strategist. A self-made millionaire, she is an expert on the subjects of Goal Setting, Time Management and Business Success. She publishes the world's largest Goal Newsletter and offers free resources at: http://www.GoalGuru.com