5Linx success seekers: Want to dominate and build a HUGE business?
If you seek to become a top earner, you need a way to promote to thousands of people- not just to the small number of friends and family network marketers are taught to approach.
It's imperative you master the basics of marketing- like any real business
I've been groomed by 6 and 7-figure income earners who taught me the following strategies we quietly use to build large businesses:
- Grow A List And Promote To It
When all's said and done, building a 5Linx business online entails two activities:
- Attract a list of leads
By list I don't mean your friends and family. The list that matters the most is the list of prospects you generate through online marketing. You can't expect to succeed in 5Linx by just throwing up some content on your blog and on Facebook. To profit online, you must position yourself in a way that's attractive to prospects, so they feel compelled to buy from you.
The key to list-building is positioning yourself as a trusted authority that can assist people to grow their businesses. Attract qualified prospects to a web page where they enter their name, email address and phone in exchange for some valuable free content.
- Market yourself to your list
Getting a feel for your prospects' business needs by keeping in contact with them is very critical. A lot of marketers miss this step, but it's critical. Those that fail in their online activities never establish strong rapport with their audience. The way to get prospects to feel they know, like and trust you is to be very frequent in your communications End each tip, blog post, email and video with a call to action to make a purchase.
- Build Multiple Streams Of Income
Rather than depend solely on your 5Linx business for revenue, introduce multiple revenue streams. There's a lot of risk when you depend exclusively on your 5Linx opportunity. Your best people could quit your business. Your 5Linx retention could decline. 5Linx management team might change the comp. plan or add restrictions you don't like.
Risk goes down when you diversify your income streams. You must keep focus on not let adding new lines of income distract from your 5Linx venture.
Multiple options exist to add new sources of revenue:
Promote affiliate products and services. Sign up as an affiliate to promote the services, courses, and system you use in your business. Promote the affiliate products you feel are best, not just the ones that pay the most. Generally you get paid commissions of twenty to sixty percent.
You can also transform your content into products. When you do webinars, record and sell them. Gather a set of your videos and sell them as a course. Make an ebook out of your written blog posts.
Another strategy is to provide coaching to your students. Make sure to charge a high enough price for your time.
- Solve Your Attrition Problem
Attrition can make growing your 5Linx business every month very difficult. 5Linx business builders are taught two tactics to boost retention, but each strategy creates other problems.
1) Method one is to assist new 5Linx distributors to make money right away, so they get an early taste of success and want to stick around. When you attempt to help EVERY new 5Linx rep in your organization get into profit quickly, you spend LOTS of time helping your worst-performing new reps, the people who can't sponsor anyone by themselves. This takes focus away from your best people, the top 20% of your 5Linx downline that will drive 80% of all your income. Spending most of your time on the weakest 20% of your people just fosters dependency.
2) The other common approach is get your 5Linx team members to feel connected to your team, so the interpersonal connections and sense of belonging the person feels overcomes frustrations that might otherwise make them quit. 5Linx team webinars, live training events, and getting on the phone with your new people can all foster a team experience. This strategy can foster dependency. Many of your weaker-performing team members will stick around because they like being part of the team...But these people will NOT sponsor others by themselves routinely into 5Linx and will require LOTS of team support in order to stay in the game.
You're a business owner, not a group therapist. A contrarian but effective approach to the attrition problem is to revise your business model not to boost retention, but rather to make retention much less important. To make retention less important to your business, promote affiliate products that can easily add a dozen or more new streams of income. This diversifies your income and makes you less dependent on your downline for revenue. When you depend less on your downline for income, attrition matters less. A second way to make attrition less important is to promote a high ticket opportunity that pays commissions of $1,000 or more per sale. In contrast, most network marketing comp plans such as 5Linx pay a $50-$100 sign-up bonus for each new rep you sponsor, forcing you to build a large team and build a large residual check to make a full-time income. If you earn a commission of $800 or more each time you sponsor a new rep, it's like you're earning 3-4 years of residual income checks up front, so it doesn't matter if this new person quits, because you get paid so much up front. This approach makes attrition almost irrelevant to your business!
If you seek to become a top earner, you need a way to promote to thousands of people- not just to the small number of friends and family network marketers are taught to approach.
It's imperative you master the basics of marketing- like any real business
I've been groomed by 6 and 7-figure income earners who taught me the following strategies we quietly use to build large businesses:
- Grow A List And Promote To It
When all's said and done, building a 5Linx business online entails two activities:
- Attract a list of leads
By list I don't mean your friends and family. The list that matters the most is the list of prospects you generate through online marketing. You can't expect to succeed in 5Linx by just throwing up some content on your blog and on Facebook. To profit online, you must position yourself in a way that's attractive to prospects, so they feel compelled to buy from you.
The key to list-building is positioning yourself as a trusted authority that can assist people to grow their businesses. Attract qualified prospects to a web page where they enter their name, email address and phone in exchange for some valuable free content.
- Market yourself to your list
Getting a feel for your prospects' business needs by keeping in contact with them is very critical. A lot of marketers miss this step, but it's critical. Those that fail in their online activities never establish strong rapport with their audience. The way to get prospects to feel they know, like and trust you is to be very frequent in your communications End each tip, blog post, email and video with a call to action to make a purchase.
- Build Multiple Streams Of Income
Rather than depend solely on your 5Linx business for revenue, introduce multiple revenue streams. There's a lot of risk when you depend exclusively on your 5Linx opportunity. Your best people could quit your business. Your 5Linx retention could decline. 5Linx management team might change the comp. plan or add restrictions you don't like.
Risk goes down when you diversify your income streams. You must keep focus on not let adding new lines of income distract from your 5Linx venture.
Multiple options exist to add new sources of revenue:
Promote affiliate products and services. Sign up as an affiliate to promote the services, courses, and system you use in your business. Promote the affiliate products you feel are best, not just the ones that pay the most. Generally you get paid commissions of twenty to sixty percent.
You can also transform your content into products. When you do webinars, record and sell them. Gather a set of your videos and sell them as a course. Make an ebook out of your written blog posts.
Another strategy is to provide coaching to your students. Make sure to charge a high enough price for your time.
- Solve Your Attrition Problem
Attrition can make growing your 5Linx business every month very difficult. 5Linx business builders are taught two tactics to boost retention, but each strategy creates other problems.
1) Method one is to assist new 5Linx distributors to make money right away, so they get an early taste of success and want to stick around. When you attempt to help EVERY new 5Linx rep in your organization get into profit quickly, you spend LOTS of time helping your worst-performing new reps, the people who can't sponsor anyone by themselves. This takes focus away from your best people, the top 20% of your 5Linx downline that will drive 80% of all your income. Spending most of your time on the weakest 20% of your people just fosters dependency.
2) The other common approach is get your 5Linx team members to feel connected to your team, so the interpersonal connections and sense of belonging the person feels overcomes frustrations that might otherwise make them quit. 5Linx team webinars, live training events, and getting on the phone with your new people can all foster a team experience. This strategy can foster dependency. Many of your weaker-performing team members will stick around because they like being part of the team...But these people will NOT sponsor others by themselves routinely into 5Linx and will require LOTS of team support in order to stay in the game.
You're a business owner, not a group therapist. A contrarian but effective approach to the attrition problem is to revise your business model not to boost retention, but rather to make retention much less important. To make retention less important to your business, promote affiliate products that can easily add a dozen or more new streams of income. This diversifies your income and makes you less dependent on your downline for revenue. When you depend less on your downline for income, attrition matters less. A second way to make attrition less important is to promote a high ticket opportunity that pays commissions of $1,000 or more per sale. In contrast, most network marketing comp plans such as 5Linx pay a $50-$100 sign-up bonus for each new rep you sponsor, forcing you to build a large team and build a large residual check to make a full-time income. If you earn a commission of $800 or more each time you sponsor a new rep, it's like you're earning 3-4 years of residual income checks up front, so it doesn't matter if this new person quits, because you get paid so much up front. This approach makes attrition almost irrelevant to your business!
About the Author:
Ricardo Interpemian has taught thousands of people how to grow businesses like 5Linx.
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