Building a Solid Foundation for Your Network Marketing Business

Imagine your dream house. It might be a modern mansion, a quaint little cottage, or something more Joanna-Gaines-esque. There’s no wrong answer.

Now, imagine someone handed over the keys to this house to you.

“What’s the catch?” you ask hesitantly.

“Oh, nothing much!” The person tries to unload the keys into your hands. “It just doesn’t have a foundation.”

No foundation? That’s the opposite of nothing much!

It could be a literal castle, and you would want to steer clear of it if it didn’t have a foundation. It would not be a safe place to stay. One gust of wind, and it’s gone.

The same goes for your network marketing business. If you don’t have a strong foundation for your business, anything can come along and knock it down.

So, how do you build a foundation for your business? It’s certainly not made of the concrete that the house was lacking. Let’s look at the two parts that make up a strong foundation in your business: the foundation of you and the foundation of your team.

The Foundation of You

Everyone has the capacity to succeed in network marketing. But you will need to develop some skills before you can become successful.

Think about other professions. People go to college or other training programs to learn the skills they need to be successful in their careers. They take years to learn skills while still waiting to earn income. Then, after they develop those skills, they start putting them to use and reaping the benefits.

Network marketing is similar. You can't expect to start without any skills and be successful right off the bat. You might start by bringing some skills to the table, but you will need to develop others along the way.

Some skills that will be helpful as you navigate your network marketing journey include:

• Communication
• Time management
• Dealing with rejection
• Goal setting
• Daily routines
• Overcoming fears
• Building genuine connections
• Social media
• Marketing
• Business
• Sales

You won’t become an expert in all of these areas at once. You can continue to learn and grow through your network marketing experience. But if you have a basic understanding of these areas, you will have a stronger foundation for yourself.

You can build up these skills in a lot of different ways:

• Find a mentor
• Hire a network marketing coach
• Take a network marketing course
• Read everyday
• Set goals

Realistically, take inventory of yourself. Identify the areas where you need to improve. Focus on those areas that are your weaknesses.

The Foundation of Your Team

After you have become the best network marketing version of yourself, you will be in a better position to help your team’s foundation become stronger. A strong team is an essential part of successful network marketing.

You will want a strong core of serious individuals in your downline. You will have some that are less serious who will join. They have their place, too. However, finding solid people with the same vision as you will help strengthen the foundation of your team.

This AARP study points out that 50% of your downline could drop out within a year, and only 25% might turn a profit. This means to build up a profitable downline of three to five, you could need 20-40 recruits to find and keep them. Don't be discouraged if they aren’t the first five to join your team.

As you build your downline, you want to keep everyone engaged and excited about their potential. Here are some ways you can build up your team unity:

1. Support: You can empathize with someone starting their own network marketing journey. You can remember what it was like to be overwhelmed, excited, and anxious about this new endeavor. If you received a lot of support from the individual who recruited you, show that to your new recruits. If you didn't receive that support, figure out what would have helped you in those early days and provide that to your own downline. If they know they have you in their corner, they will be more likely to come to you when they need help.

2. Train: Teach your recruits what you have learned so far. Share your network marketing tips and secrets with them so they can have the same success you do. Their success is your success.

3. Create a Team Goal: Come up with a clear vision or goal for your team. If you have a purpose and mission, you can work together toward the same success.

4. Foster a Growth Mindset: If your downline is struggling, help them to foster a growth mindset. A growth mindset will help them realize that they might not be finding success YET, but it is still possible. Emphasizing the “yet” will help them keep a positive perspective.

5. Encourage Growth: Encourage your team to develop their own professional skills. Provide them with opportunities to learn and enhance their skills through conferences, training, or other events. When you invest in them, they are more invested in the team.

6. Lead By Example: Whatever you ask of your team, be prepared to do it yourself. Let them see your successes. Show them that you are in the same boat. They will be able to visualize themselves reaching the same success as you this way.

With a foundation of strong individual skills and a unified and goal-oriented team, you can exponentially grow your network marketing business. Because you're not just building your dream house on this foundation. You're building your dream life. So, let's make it a strong one.