March 23, 2017;
July 5, 2020;
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Building any business is tough, just like reaching to the top in any field is. But, what is tougher is reaching to the top and staying number one. Similarly, it is difficult to retain many sponsors after signing them on without training and interacting with them regularly.
Building an MLM business from scratch is a herculean task that involves juggling many balls at the same time. It includes developing products for your company, recruiting the right people to build the basic company functions and structure, having an appropriate MLM business plan that compensates sponsors and distributors appropriately, designing proper downline training programmes and the most important – a proactive marketing plan.
The company founders rush to sign on more distributors, get more sales in order to show some numbers which will help them raise funds from investors. This is the right trajectory for any company, but the MLM business makes a deadly mistake in the process. After signing on sponsors and in a rush to get more sponsors, they tend to neglect the support that the signed on sponsors need. Not all the sponsors and distributors who sign are expert salesmen who can deliver the sales and convert from prospects to sponsors as the company wants them to.
By not providing adequate support, these sponsors may be completely lost in the MLM world. Any individual expects a minimum support from their team or company. If not provided, they may leave the company very soon. A direct marketing business must provide the following support programs to its distributors and sponsors:
Proper induction programs: Proper induction programs are necessary for all new sponsors to get a complete understanding of all the products, services and facilities of the business. Unless they are aware of all the details that they are supposed to know, they will be on the backfoot as compared to other established sponsors of the company.
Also, as not all signed sponsors are skilled or trained in sales, having a proper induction training with a special focus on sales training will benefit the sponsor and the company immensely. Having specialists impart training to sponsors periodically will help these sponsors gain confidence and perform better and get better sales and leads.
Regular networking sessions with successful uplines: Any sponsor would like to regularly be reassured that the target set by his MLM business plan is achievable and has been achieved by many people before him. These people have gone through what he is going through by executing their MLM Binary plans and are now enjoying the fruits of their work.
They need someone to interact with who understands a MLM calculator as much as thema and has faced the challenges that they have faced while prospecting or selling products. This gives them an opportunity to interact with someone who has been there done that and can easily connect with them after the session. This upline will be like a mentor who can help them in case they ar