A regular topic of discussion at MLM events is “How do I keep my team from dropping out?” The answer is quite simple retail sales volume. If your team is dropping out you will see that there is no product being sold. The last time I checked money does not magically appear, it does have to come from somewhere. Here are 3 tips to build retail sales volume.
1. Pick a good company in a good industry.
I have been dragged along to many home business opportunity presentations and walked away saying that is a terrible product at a terrible price. In order to sell to retail customers the product needs to be competitive on price or obviously higher quality. A shoddy product at a high price is not a combination for repeat business.
The industry is equally important to the long-term success of a company. Telecommunications is the perfect example of an industry not to enter. The product is highly commoditized and none of the companies have a major technical advantage. There is no pricing power (low profit margins), no uniqueness, and it is obscenely competitive. If you are trying to sell cell phone service to your friends and family it is almost impossible to save them enough money to go through the hassle of switching from their current carrier.
Finding the right business in the right industry can be difficult. Before committing to a company ask your self does the company solve a known problem, is there retail demand and can I be profitable in this business with out recruiting reps. If you can answer yes to those three things you probably have a good opportunity.
2. Provide sales training.
To most people the idea of selling anything to anyone strikes fear in their heart, but lets face it all network marketing companies are sales organizations. In MLM you have the unique choice of being a wholesaler or retailer of the products. Which ever you choose to be you are either selling a product or a dream. Be prepared for the objections and train your team to recognize the objections. Rehearse your presentations with the team and practice, practice, practice. Make ongoing training a regular part of your business. As Tony Robbins says “repetition is the mother of skill.”
3. Know the break even.
Calculate how much product you need to sell on a monthly basis to break even. A representative that has a profitable retail business will not drop out the moment someone in his down line drops out. If you can show a disgruntled rep how close they are to being profitable and having a sustainable business the more they will be willing to stick it out.
A MLM team that has retail volume is a team built on a strong foundation. Teach your recruits to build a business on the retail end as well as the recruiting end and your dreams can become a reality.
Bob Firestone
bobfirestone.us
Bob specializes in building home businesses that create residual passive streams of income. Visit his website http://www.bobfirestone.us for more information on available business opportunities.
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