How can you succeed in network marketing? In this video, Brandon Cunningham, co-founder of The Cunningham Collective, shares three major steps to help you do just that! Brandon gives his advice and expertise in what you can do to continue growing and succeeding in your network marketing business in 2021.
In this Video
00:32 How Do I Succeed in Network Marketing?
01:35 Treat This Like a Business!
03:53 Problem Solving
06:40 Have Proper Expectations
07:46 Understanding Linear vs Residual
09:12 Maximize the Payout
10:13 We Want You To Succeed!
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Hey everyone, in this video we’re going to be talking about how to succeed in network marketing.
How Do I Succeed in Network Marketing?
Hey everyone. So we get asked this question quite a bit: “How do I succeed in network marketing?”; and it’s a great question. First of all, I’ll tell you, there’s a lot of things that we could share with you. Today I’ll share with you three things that I think can make a big difference, whether you make it or not. But understand, you get to define what success looks like in network marketing. Success for one person is completely different than success for another person. However, I do know this, no one ever quit network marketing because they were making too much money. So I know some people get in and make a little bit, and that’s great. Others have a different idea. And I will tell you that I’ve learned that your first thousand dollars of residual income, the first thousand, is your hardest. If you can make a thousand dollars of residual income, the second thousand’s easier, the third thousand is easier. So there’s a lot to be learned in the beginning. That’s where the struggles are.
Treat This Like a Business!
So let’s jump into this. The first thing is you need to treat this like a business. And I always try to share with people that a lot of our success was because of our previous experience in business. Now, I know a lot of people have never owned their own business, maybe network marketing, this venture you’re taking, is the very first time you’ve owned your own business. And we took on an ownership mindset, just like our traditional businesses. And it’s probably because those businesses cost us so much money to get started. Some of our businesses are $50,000 and that’s really cheap, but it’s still a lot of money. No one invests that kind of money and just does it like a hobby.
And so with an ownership mindset, it means you’re going to have to make some sacrifices. You’re going to have to give up some of your likes to get what you love. So what do you love doing? Well, it could be a variety of things, but your likes may be going to the gym or watching television, your favorite show. You may like to have your favorite show on a certain night. You may have to give up some of those likes to get what you love. The love of being able to wake up when you want to wake up and go on vacations and stay as long as you want. Those are your loves, right? So the first thing is there’s going to be sacrifices and you’re going to have to set aside certain hours to do this business.
Now I’ll tell you, I launched my side of the business, because my wife and I did this together, by simply turning the radio off in my car. I spent a couple hours a day in the car driving back and forth to work, and instead of listening to sports or the radio, I turned it off and I made phone calls. And then when I got home, I had a shorter period of time but nevertheless, I had dedicated time to get my invites done, my follow-ups done. So set aside certain hours. So many people just wake up, start their day and then they try to figure out where things are going to fit. I wouldn’t suggest that. I would say, figure out your hours and then let other things fit around that.
Second thing is you need to focus on solving other people’s problems. And it’s really hard in the beginning to do this because there’s a reason why you became a distributor or a rep for your company and not just a customer. And realizing this is an important part to you succeeding. You see a lot of people say, “I just want to help other people.” And that’s great, but you can help other people as a customer. You didn’t have to sign up as a distributor to help other people. And so you signed up as a distributor probably to earn some money, right? And a lot of times it’s hard to get over our own needs and worry about other people’s needs first. But that is a key factor in you succeeding because the way you invite is differently.
You should be listening to people more than talking. So many people are trying to sell their product to sell their service and they’re not listening to the needs or the pain of people around them. And you can do this on social media as well. And so your invite changes. When you’re focused on solving other people’s problems, then the invite becomes so natural and much better received. You see, most people don’t succeed in network marketing because they think it’s about selling things to their friends when it’s just the opposite. It’s about listening to your friend’s needs and trying to solve those problems with your product or service or opportunity. And then focus once you understand what their needs are and they say yes and they join you, really get intentional about helping them have success in their first 90 days. That’s a twist. This video is about you having success and now I’m telling you, you should be focused on other people having success.
And when you get people to join your business, as a customer or distributor, get very intentional, especially in the first 90 days, on helping improve their health or their financial situation or whatever product or service you’re offering. Be really intentional in those first 90 days of helping them have success. If you will do that, they’ll get excited. And now you have the beginning of a team and leverage in this business. And that’s what network marketing is all about. It’s about you leveraging your knowledge and your opportunity with others, helping solve their problems and in turn, giving them the opportunity to do the exact same thing. And that’s how the team, the network, begins to be built very, very quickly.
Have Proper Expectations
The last thing is have proper expectations. This is tough because if you’re joining just to make a few hundred bucks, well, then you can do that pretty quickly. But if you’ve joined to do more than that, if you want this eventually to provide some financial relief one way or another for you, that’s going to take time. In fact, it takes about three years or more to earn very significant money, meaning maybe replacement type income, where you can replace your other income, probably with a responsibility or a job maybe that you didn’t like. That was me. That’s going to take some time. That’s going to take most people about three years to be able to replace their income and do this full time. And it’s been said that if you really want to score big in network marketing or become world-class, that’s upwards of seven years. So have proper expectations based on your desires.
Understanding Linear vs Residual
And the last thing is understanding the difference between linear income, which is trading time for money, which is what I was doing before I joined network marketing and it might be what you’re doing. We’re used to that. We know what our time is worth, we know what we get paid an hour or a day, versus residual income. And see, residual income is what network marketing is all about. Network marketing, and the reason you build a big team, is that one day you will be able to enjoy the fruits of your labor and not have to trade time for money, not have to continue to work all the hours that you’re working.
And so it’s a really hard thing to wrap your mind around. It was for me. I almost quit because I wasn’t making very much money in the beginning and I was trying to rationalize, well, wait a second, if I spent this much time in my other business, I would be making way more money, but this is what you need to ask yourself: How long have you been trading time for money? 10 years, 20 years, more? Are you where you want to be financially? And the answer for most is, no. I was that way. And it was because if I didn’t work, money didn’t come in. And that was the beauty of what I found in network marketing and residual income.
Maximize the Payout
And I want you, if you don’t know, to figure out how a penny a day works, that analogy. So the analogy is, or the question would be, would you rather me give you a million dollars today or a penny that doubles everyday for a month? And so most people think, “A million dollars, that’s fantastic. That’s what I want.” That would be the wrong answer if you’re wanting to maximize the payout. You see, a penny that doubles every day will end up paying you way more than a million dollars, but here’s the tricky part, at day 15, it looks like you made a massive mistake. There’s hardly any money. It’s not nearly a million. At day 20, it’s not a million. At day 25, it’s not a million. But soon it is, and then it doubles and doubles. And see, that is what network marketing is all about. Taking your time, solving someone else’s problem, and then showing them how to do the same thing.
We Want You To Succeed!
These are three of the things that I hope you can put into your business, put into practice in your business and also into your team, because that is why most people succeed or not succeed in network marketing. If you like this video, subscribe. If you want more content like this, go to thecunninghamcollective.com. Thanks for joining us. Tell your friends and we’ll see you on the next video.