Fundamental Skill #5: New Market Expansion
There are 5 Fundamental Skills that you need to know if you want to be successful in MLM.
3) No Hype Selling
5) New Market Expansion
This post will teach you some Do’s and Don’t Do’s when you expand outside your local area.
New Market Expansion
Expanding into new markets is one of my favorite topics.
I love traveling and I’ve been able to built a network marketing organization than spans over 18 countries.
If you want to make it BIG in Network Marketing, you have to expand outside your local area. This does not mean you have to go to another country. This just simply means you expand outside the 50 mile radius from where you live.
New Market Expansion allows you to expand and share your company’s exciting opportunity and products to new markets (new people) and also allows your team to expand as well.
If you want to grow into another country such as I have, my advice is that you find people of that culture in your local market first.
Build up that market and those people will help fuel your expansion.
For example, if you want to grow into Thailand, go find someone in your local area who is Thai. If you want to grow into France, find someone local that is French speaking.
Long Term Commitment
Let me start off by saying that building into NEW markets is a LONG TERM commitment.
In the post, I’m going to almost discourage you from even considering new markets until you are solid and earning consistently in your local area first.
You need to make consistent income because expansions requires additoinal expenses that you may not be able to afford if you are not earning right now.
And when I say “Long Term Commitment”, I mean at least 2 -3 years.
If you can’t see yourself traveling and making the commitment to support your team with constant travel and late nights, then do NOT do it.
Your team will need that support and unless you are prepared to do it, your team will just fizzle out and you will get nothing. It may grow initially but then it will just die out.
So you MUST be prepared to travel to that city, state or country on a consistent basis. And even if you are not there, you must still “be present” by conducting online trainings.
One of the favorite tools that I use are GoTo Meeting and Skype.
“The Grass is Always Greener” Trap
VERY VERY IMPORTANT NOTE! I am repeating myself here because it is that important.
I only recommend expansion into new markets if you have build a solid base at home first.
Do NOT FALL into the trap of “the grass is always greener on the other side.”
What that means is we have a tendency to think it is easier anywhere other than where we are. For example, many Americans think MLM is much easier in Asia but at the same time, Asians think MLM is much easier in America.
We tend to think the “other way” or the “other area” is easier when in fact, the BEST opportunity and your acre of diamonds is in your backyard.
Warning: Work on your Home Market First
You must be experienced and grow a small team in your local area before you even consider going into another city.
3 Reasons Why You Work Your Home Market First
1) Expansion requires additional investment
2) Expansion requires you to be good at the fundamental skills of prospecting and training
3) You most likely will NOT get consistent support from your upline
Expansion Requires Additional Investment
Expansion will require additional investment such as travel expenses, hotels, and the most important cost; your time cost to travel! You have to be earning in order to afford these additional expenses.
Expansion Requires you to Be Good at the Fundamental Skills
If you can’t prospect with your contacts in your local market, you also will NOT be able to recruit anyone else in the world.
It’s not the location that determines your success but YOU!
So there is no point to spend money to go to a place where you will simply encounter the same obstacles that you face at home. If anything, the obstacles that you face in a new market will be MORE DIFFICULT than what you face at home.
In new markets, you may have to learn new cultures, geography and even a new language. The last thing you want to worry about is about your basic fundamental skills like prospecting, followup, etc.
Don’t Rely On Your Upline for Consistent Support
You must be able to prospect and train your team. Do not rely on your upline for consistent support because chances are they won’t be going to that new market on a consistent basis but at same time YOU MUST GO THERE CONSISTENTLY
As mentioned before, if you are to invest in a new market, you must make the LONG TERM COMMITMENT. So that means consistent travel.
But your upline won’t do that. They may just go there once or twice a month to help you. So if they do that, what’s going to happen to your team for the rest of the 29 days in a month?
That’s another reason why YOU must be good at the Fundamental Skills first!
New Market Opportunities
Expansion requires experience and that’s why I recommend you to first build solid and earn consistently in your Network Marketing business in your home market before you consider expansion.
There are tremendous challenges to opening new markets but it is worth it.
Being able to expand is what will really take your business to the next level.
Whether it is to another city, state or country, all the top income earners have learned to expand their businesses outside their local area.
I will be producing a detailed training on exactly what you can do when you expand to new markets so stay tuned for announcements.
Not only is it very rewarding but it is also a lot of fun as well!
If expanding into new markets is something you want to too, then this is extra motivation for you to grow your business in your local market fast!
P.S. In the last 10 years, I have read almost every book and listened to every audio on network marketing and then took what worked and did not work and created THE S.O.W. SPONSORING SYSTEM.
If you want a short cut to your success in network marketing and learn a simple and duplicatable approach to sponsoring, go check out THE S.O.W. SPONSORING SYSTEM. It is proven to work and is backed by 4 Different Money Back Guarantees.
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
Click Here to Learn More about this Comprehensive Training course