Network marketing is one of the trending businesses these days. That helps you in making a system in which you work or not you still earn money. As its name suggests network marketing, you create a network of people in such a way that you help people to grow, and you automatically grow.
Network Marketing is also known as a Direct Selling business or Multi-level marketing(MLM).
You know what only a few percent almost 3 percent of people become successful in this business. 97 percent of the people give up. If you want to be in 3 percent you need to keep a few things in your mind that help you in building your system.
The purpose of the eight basic building blocks is very simple it is to keep network marketing very simple. Now you are embarking on a journey with any network marketing direct selling company and you need to have enough knowledge, enough substance.
The purpose of the eight basic building blocks is very simple we need a training module that is duplicable. In network marketing, if you do anything that cannot be instantly duplicated by the person you are sharing it to downline then that blog serves no purpose because network marketing is all about duplication.
I recognize one fact eight basic building blocks put it in a format that if I share it with you today, tomorrow you must be able to do it with your downlines. It must be so easily duplicable. If you are training your downlines, training your new signups with knowledge and approach that they cannot duplicate then what you say is useless because if there’s no duplication the flow of information and the flow of knowledge stops. The purpose of the eight basic building blocks is for downlines to be continuously duplication.
I am sharing 8 basic building blocks of network marketing that will help you to be successful in Network Marketing.
8 Basic Building Blocks of Network Marketing
As to create a building you need blocks same to be successful in network marketing you need blocks. The blocks I am sharing are fitted for all the network marketing companies.
All company has their own way to do business. But the success formula that I am sharing will work more effectively. These blocks are the followings:
1. Dreams
The first building block, you can say is the base of any system is a Dream. A dream gives you a reason to keep moving toward your destination. Your dream motivates you. If any person has not any Dream or any reason then why he or she will give his 100% effort?
Your Dream must be close to your heart. That should be so much strength that you can pay the price. Most people fail in network marketing because of the lack of this block.
To make your dream strong make a list of your dreams. Write down at least 20 dreams in a notebook. Take as much time as you need but write at least 20 dreams for sure. Divide these 20 dreams into 3 categories. Short-term, mid-term, and long-term dreams. Short term, you will achieve 0 to 6 months, in the mid-term, you will achieve in 6 months to 2 years, and in the long-term dreams, you will achieve in 2 to 5 years.
The dream is the most important building block. The dream is what defines us as a human being. We are the only creation that is capable of dreaming which differentiates us from a robot to a machine so you think about it a robot and a machine today can do exactly what a human does.
Well many jobs are gone due to automation and machines are taking over again and again, even today computers have grown to incredible levels where they can do anything artificial intelligence can do, but the fact is that out of no machine, no matter how advanced they are.
Taking your first step you need to identify what is your cause what is your compelling cause precisely what your vision is your objective to start a network marketing journey there must be a reason.
You need a dream to drive you every day through this journey of network marketing. You need a dream to help you overcome every rejection. You need a dream to keep you strong no matter how long your journey is. No matter how challenging and this dream is something personal now your dream can be anything guys.
There are no rules and no limits dream as big as you possibly humanly can if you wear pink with yellow polka dots or want the perfect private jet plane then go ahead if you want a Ferrari if you want a little bigger house
If you want to upgrade your car, if you want to give good education to your kids, if you want your parents to give back or you want to own the city you live in or if you want to fly around the world. That’s okay, as long as you open yourself up and turn that button on again what makes you human is that you can dream there is no dream that is too big there is no dream that is too small. You just need to sit down with that person who introduced you to network marketing or with your upline.
I want to close this basic building block number one with a statement shared with me by one of the greatest networkers of our lifetime. This statement is – “This journey of yours will mean nothing without dreams. Entrepreneurs cannot survive without dreams.”
2. Commitment
The Second building block to being successful in network marketing is Commitment. You must be committed to your dreams. So that you never give up. Commitment makes your reason more strong. When you are committed to a dream you find all the way to fulfill your dream.
This is a very important building block. In a network marketing business, you are a business owner. This is not a hobby this is not about plucking flowers at home. This is not something you are trying and hoping it works. This is a serious decision that requires serious Commitment changes based on individuals all over the world.
Network marketing is called free enterprise it makes you that decision-making power of what kind of commitment you want to give and this is fundamentally important that you have to decide.
all right nothing is more important than
Now you have a dream that requires commitment towards the business. Now be very clear with your upline. if you say I can give three days a week no problem but those three days are non-negotiable.
If you are telling your upline that I wanna buy all right a private jet in five years but I can commit one day a week that’s a problem guys it doesn’t match your dream. If you say I want to buy for my Toyota upgrade to a BMW 7 series in the next year and I’m willing to give you four days a week. That’s a doable ratio of commitment toward the dream and the results that will pay for the dream.
3. Name list(Contacts)
The third Building block is the name list. As you are into the people business. You need to create a network. For that, you must contact people. Make a name list of people that you know. At least 500 contacts.
The right way to make a name list is F.R.I.E.N.D.S.
F – Family members, Close friends: Write down the names of your family members and close friends. Because you will share business opportunities first with your loved ones.
R – Relative: Write down the names of all the relatives without thinking much about whether you talk to them or not. All names should be covered in your name list.
I – Institute: Write down all the names of friends that you met in school, college, or in any other study institute.
E – Employee: Here employee means friends that work with you in a job, in business, or in any other profession.
N – Neighbour: Write down the names of people who live in your neighborhood, or who lived earlier in your neighborhood.
D – Doctor, CA, Lawyer, etc.: Write down the names of people from whom you take any service, like doctors, lawyers, CA, plumbers, electricians, or any other person.
S – Stranger: When a person is in a network marketing business he or she should always add new names to his name list. The best way to add new names is by talking to strangers and taking their contact numbers of theirs. So that you can show the plan to them later.
Remember one thing in mind makes a proper name list with the proper format. Add column name, contact number, location, date of the plan, and status.
4. Prospecting
The fourth building block is prospecting. Prospecting means finding the gold. Now you need to filter your name list. Prospecting is the way by which you find which person will do your business or which will not. Generally, people do a mistake in network marketing in that they judge a person without talking to them.
Calling: Make a discipline of calling people daily. You made a list of people. Take that list and start calling people. If you do have not anyone’s contact number take a number from mutual friends.
What should you talk about?
Never talk about your business directly. Talk to them generally, and ask about their life and what they are doing. When they ask about you then share about your life and edify your business. Try to create curiosity and they should realize you are doing something big.
You should be energetic and passionate during the call. Most of the closing depends on your call. If someone shows any interest in your business then make an appointment to show the plan. If someone does not show interest write his name for later to show the plan.
5. Plan
The fifth building block is the plan. This is one of the most important building blocks because without showing plans you will not be able to build your network. After prospecting schedule a meeting to show the plan of your business.
The more you show the plan the strong system you build because network marketing is the business of showing the business plan. In network marketing, you do not just sell the product you actually share the business idea so that they can join you and can build the system together.
Plan Etiquette: Whatever your business plan is, in starting most people understand nothing. People sign up because of your plan etiquette, your attitude, and the edification. Do not share your business opportunity casually. You should be presentable and the person who comes to see the plan should find some positive changes in you. Try to take the help of your upline to show the plan.
6. Follow Up
The sixth building block is follow-up. After showing the plan you need to follow a prospect by calling him by asking what decision he has taken. One thing to keep in your mind follow up in 48 hours.
Welcome to the basic building block, number six follow through or follow up but let me tell you why I came up with this term follow through because it’s exactly like one of the expensive spots today called golf.
Now think about it you did a presentation to the person now generally at the point of the presentation your goal is to get them to say yes. If you are not able to close the person or the prospect immediately the presentation and the prospect says I need time to think about it all right I’ll get back to you in a couple of days. Then they never ever will call you back all.
My first recommendation to you all right is the greatest lesson after doing a presentation is Act 48.
Act 48
This is the basic mantra of network marketing. If you do not follow up with the prospect within 48 hours of seeing the plan, then the chances of getting close are very less. This is also called Act 48. Mean the plan you show to a prospect remains exciting for 24 to 48 hours. This is a psychological fact. After 48 hours that excitement goes away. So, follow up within 48 hours.
7. Closing
The seventh building block is closing. Your closing depends on your plan and follow-up. You first try to close the prospect on the table only. After just showing the plans. Most of the chances for closing the prospect are on the table. If still, the prospect wants time to think, show him a sense of urgency. You have limited slots so you need to close as soon as possible. Tell him about the offers and benefits of closing in 24 hours.
Then follow up within 48 hours as I said in the 6th building block helps in closing. The more you close prospects the more your business grows.
8. Duplication
Network marketing is the business of duplication. You duplicate your upline and your downline duplicates you. When you have any issues or have any ideas discuss them with your upline.
He or she will help with this. Always check anything with upline. You should always be in contact with your upline. The more you spend time. with upline the more you learn.
Some Other Factors to Be Successful in Network Marketing
There are some other factors too that play important roles to make you successful in network marketing. These are the add on in 8 building blocks of network marketing. These are the following:
Attitude: In network marketing, a person required 99% and 1% mechanisms. You should always positive attitude.
Edification: The most important factor in network marketing is edification. Edification means adding value. Edify yourself, your business, and your upline. You can use social networking sites in edification. Put images of yours while you are going anywhere while shopping, buying a car, etc. That’s how people show interest in your business.
Credentials: Your business credential should be strong. Check the first credibility of your company.
Objective Handling: People have so much negativity regarding network marketing. They ask so many questions during closing. You must know how to handle the objective.
Learning: Keep reading books if you want to be successful in network marketing. Some network marketing books to be recommended are “The Parable of Pipeline by Burke Hedges, The Business School by Robert T. Kiyosaki, Who Stole the American Dream? by Burke Hedges, and Questions are the Answers by Allan Please. These are some books that every network marketer should read.
Accountability: Be accountable always. Whatever money spend in a group should be divided into equal shares. Never borrow money from your downline or upline. If you are an upline never give any loan to your downline. Be conscious of this.
No negative Talks: Never pass anything negative on your team. It can demotivate the team.
Association: Always associate with positive and growing people. Spend more time with your uplines.
Patience: The last and most important factor is patience. You will not succeed in network marketing so quick. So, keep patience in case of rejection. Never demotivate after rejection. Keep one thing in your mind some will, some will not, and someone is waiting somewhere for your plan.
If someone follows these 8 basic building blocks of network marketing and the factors that I discussed in the end, he or she will never fail in network marketing.
Frequently Asked Questions (FAQs):
1. What is network marketing, and why is it considered a trending business?
- Network marketing, also known as direct selling or MLM, involves creating a network of people to promote and sell products. It’s considered trending because of its potential for earning money even without active work.
2. Why do only a few people succeed in network marketing?
- About 3 percent of individuals become successful in network marketing, while 97 percent give up. The blog emphasizes the importance of certain building blocks to increase the chances of success.
3. What is the significance of the “8 Basic Building Blocks of Network Marketing”?
- These building blocks are essential for keeping network marketing simple and creating a duplicable training module. The goal is to ensure that the information and knowledge can be easily duplicated down the network.
4. What is the role of dreams in network marketing success?
- Dreams serve as a foundation, motivating individuals to give their best effort in network marketing. The blog suggests creating a list of short-term, mid-term, and long-term dreams to strengthen commitment.
5. How does commitment contribute to success in network marketing?
- Commitment is crucial in network marketing, as it signifies a serious decision to own a business. The level of commitment should align with the individual’s dreams and business goals.
6. What is the significance of creating a name list in network marketing?
- The name list, categorized as F.R.I.E.N.D.S., helps individuals identify potential prospects for their network. It includes family, relatives, institute contacts, employees, neighbors, doctors, and even strangers.
7. What is prospecting, and why is it important in network marketing?
- Prospecting is the process of identifying potential individuals for the business. It involves making calls, asking about their lives, and creating curiosity about the business opportunity.
8. How does follow-up contribute to success in network marketing?
- Follow-up within 48 hours after showing the business plan is crucial to maintaining the prospect’s interest. The blog emphasizes the psychological aspect of excitement lasting for 24 to 48 hours.
9. What role does closing play in network marketing, and how can it be achieved?
- Closing is about finalizing the prospect’s decision to join the business. The blog suggests closing prospects on the table, creating a sense of urgency, and following up within 48 hours.
10. How does duplication work in network marketing, and why is it important?
- Duplication involves replicating success from upline to downline. It ensures a continuous flow of information and knowledge within the network. Regular communication with the upline is encouraged for guidance.
Read more blogs on the Law of attraction, Procrastination, and Hypnosis Language Learning.
Love,
Saurabh Goel
Saurabh Goel
He is the Founder and CEO of the Training and Counselling Company Brain Soul & You’. He is an NLP Wellness Coach, Life Coach, Brain analyst, and Trainer for Education, Corporate, and Entrepreneurship. For more than 5 years, he delivered presentations on entrepreneurship, mind programming, and motivation. He did his B.tech in IT and later choose to be a successful psychologist. He is helping people in various ways through his counseling and training sessions.
This was very helpful for me to start a network business.
This is clear
Indeed I am inspired by this 8 basic building blocks