Network marketing has evolved greatly in the last 10 years. Spit balling and guessing have given way to analytics and true strategy. Network marketing has become a true science and there is a pattern for success.
In the new century, network marketing is attracting professionals that are accustomed to making six figure salaries from their traditional careers. Some of these professionals have come from proven corporate training systems that teach new employees how to succeed and fit into the corporate culture. This culture has driven their companies to hundreds of millions of dollars in sales and they want the same big vision from their network marketing company. These professionals expect real systems and real training.
This new corporate discipline can be very powerful when combined with the passion and spirit of entrepreneurialism that can be found in network marketing. New streamlined training systems are becoming more important as failures have been discovered in past network marketing training systems.
Here are some sobering statistics we have gathered that should motivate any leader to truly implement thorough training in their groups:
- 65% of marketers list “lack of confidence” as one of their top 3 challenges.
- 90% of the 50,000 people becoming a network marketer this week will not receive real guidance from their sponsor.
- Only 5-10% of distributors are attempting to take action in most groups.
- 31% of distributors spend 1-4 hours a week on their business. The question remains if it is even the right action.
- Only 12% of distributors spend 20 or more hours a week on their business.
What is interesting is that the numbers above are focused on network marketing, but they are strikingly similar to disorganized and failing sales team numbers from traditional companies. The best organizations have discovered the importance of continual training and mentors. If you want to succeed, it is straightforward, become passionate about effective training, get a mentor, and be a mentor to others in your business.
- Mentors are 600% more likely to succeed than non-mentors.
- Protégés that have mentors are 500% more likely to succeed than those without mentors.
- Companies with a mentor system experience 20% less attrition than organizations without mentor systems in place.
- One mentor is able to effectively help only 12 others without interrupting his or her own work. This means that mentors must teach others the art of helping others to create real growth in their organizations.
In the coming weeks I will be emphasizing proper training techniques and how to gauge success through effective mentoring. I know the importance of this process and I am excited to hear your newfound success.
For New Networkers – Find a mentor. A mentor should be someone that is success minded, is willing to spend time with you every month, and has succeeded in the type of business you are working. That mentor should be able to let you know if you are failing and also recognize you for your accomplishments.
For Established Networkers – Find three distributors with promise and mentor them. Take time with them each week. Monitor their efforts and mentor them toward more effective results.