Members of my Network Marketing Coaching Programs can ask me for help or advice every week.
I recently got this question from Guillermo, who is one of my 5 Star Mastermind Coaching members from Mexico.
It is a very good leadership question and this post will teach you the Leadership that is required to be successful in network marketing.
Last night i had a meeting with my team supporters/leaders and i started with them a VIP associates group. The reasons i created this group is to give the all team a target (a goal of being part of this VIP group) and also as a recognition.
In your own experience, does it work? if it do, what would the best way to manage this group? Which requirements, commitments and rewards would be good to stablish to make it attractive for the all team?
Network Marketing VIP and Mastermind Groups
I think this is a great initiative and you have the right idea.
There are 2 ways to go about this and that depends on your rank and experience.
You can run a VIP Group or Mastermind and they are both the same thing but just different terminology.
Your Rank and Influence is a Determining Factor
If you have a much higher rank than the others that are in the group, you can run a “VIP Group” and people will listen to you and you run the show. All things are good!
But in order for things to go smoothly, you need to reach a rank that is widely respected or perceived as having “achieved something” (for i.e. Silver Director or above).
The reason you need that higher rank is the perception that is created that you are “better” and they should listen to you and they will give you the “authority” to run it.
But if your rank is around the same level as the rest of the assoicates, then you are perceived more as a “peer” instead of the “leader” and you have much less influence.
You can't call it a “VIP” group with you being the leader because you are just a “peer.”
The lack of rank may also make the group less appealing since people will think they won't learn much from someone that is just a peer.
Running a Network Marketing Mastermind
However, even if don't have the rank yet, you can have the SAME BENEFIT AND SAME EFFECT as the “Vip Group” but you just call it a different name.
You call it a “Mastermind” instead.
Or call it brainstroming group, etc.
It is basically the same thing but you just positioned it differently using a different name.
Masterminds sound exclusive and is something that everyone wants to join regardless of your rank. Instead of being “led” by you, it will be facillitated by you.
Again, same affect and benefits but just different names and positioning from a marketing perspective.
Benefits of Running an Exclusive Group
In fact, being involved in a Mastermind is so important that it is included as 1 of the 13 steps to riches in Napoleon Hill’s classic book, Think and Grow Rich.
This brings back memories of my first year in network marketing where I had a small group of motivated distributors.
And when I say small, I meant small… it was like 3 people total.
Intense Network Marketing Training
The biggest benefit of this group is not only does it give distributors another form of recognition but it is a great place to share ideas and also for intense training.
One of the things that I do (and this was especially helpful to me when I was in my first year) was to do role playing with objections.
My friend and I would throw randomly objections at each other and see how confidently we could answer them. For i.e. out of nowhere he would say “this sounds like a pyramid scheme” and then I had to answer that question confidently on the spot.
Or he would say “a job gives you more security than a business”…
or… I remember this one… “What's the difference between a job and a business and why do I have to invest to join?”
I remember that one because it stumped me at the time but after thinking it carefully, I came up with an answer that worked well and I still use today.
So these mastermind groups were the training ground for me to get really really good at prospecting.
A lot of times we just listen to the trainings but don't really have anyone to practice with. Knowing what to say is not enough. You have to say it CONFIDENTLY and the only way to know is to record yourself practicing or even better, have a live person give you immediate feedback.
Benefits of Having the Group Small
You want the group to be small not only to make it exclusive but also to be managable and effective.
When the group is too big, not everyone gets to share things nor can participate in live trainings such as the objections handling I mentioned above.
Too big also makes the group not as special.
There are 2 ways to keep the group small.
1) You can set requirements
This is the obvious but again, goes back to the rank. If your rank is not much higher, then people may say what right do you have to exclude others that are your peers?
But if you have much higher rank, than people will automatically give you the right to exclude and come up with requirements.
2) People will disqualify themselves
The easier way is to just invite everyone to participate but people will disqualify themselves by not making the meetings or showing up.
If you are considering this, you are definitely motivated and a rare top 3% Leader and you would want the group to communicate frequentely.
Going back to my early days, my Mastermind group talked EVERYDAY. Not because we had to but because we wanted to!
As predicted this was too much for many distributors and they just stopped showing up. But for the 3 of us that did talk to each other everyday through 3 way calls and teleconferences, we got tremendous value.
The ones that make it and show up will be very good.
The best way to reward this group is by making them the best and most successful distributors!
It's like the Navy S.E.A.L. soldiers. Everyone wants to join them because they know they are the toughest soldiers. It's also interesting to note that they tougher it is to become a Navy S.E.A.L., the more people want to join them.
So make your Mastermind group the BEST distributors!
As this exclusive group grows fast, word will spread to the rest of your organization and others would want to join.
You can also do a special event (for i.e. dinner) during Convention times or arrange for a special speaker to speak to them at an event, etc.
But the best reward and to get others WANT to get into this group is to have them be the best and fastest growing associates!
Setting Certain Rules
The Network Marketing mastermind should be simple but have a few rules.
Everyone should attend and never miss any meetings (or calls)
Everyone must share something they accomplished and proud of each time they meet. They also must bring to the table a challenge they faced.
Just Do It!
As I write this post, it really makes me think back to when I first started and how much I grew from my early Mastermind sessions.
Are you part of an exclusive VIP Group or in a Mastermind already?
If yes, comment below and let me know what you have gotten out of it or if you have any questions.
And if you are not in one yet, it's time for you to get one going!
P.S. Many of you have contacted me and enjoy the lessons that I have included in my past blogs. If you are hungry and want to learn more tips on how to increase your productivity, improve your life and become more successful, I would like to invite you to become a member of Simon Chan Insider's Circle. For a limited time Membership is FREE. Click Here to learn more.
THE S.O.W. SPONSORING SYSTEM
For Distributors Who Don't Have Sales Experience
Learn how to Easily Invite More Prospects to learn about your network marketing business…
so that you can Sponsor MORE distributors regardless of whether you are good in sales or know how to present.
This 20 DVD/CD Training is divided into 7 Components
COMPONENT 1: The Attitude and Daily Routine of Top Sponsors
COMPONENT 2: Magnetic Communication
COMPONENT 3: How to Easily Approach and Invite Prospects
COMPONENT 4: Learn how NOT to Bore Your Prospects
COMPONENT 5: How to Overcome Over 50 Types of Objections
COMPONENT 6: How to Maximize Your Business Through Followups
COMPONENT 7: Closing and Getting Your Prospects to Join You