There are two schools of thought on buying leads to build your network.
The first group says, “I’m not wasting money on leads.” These networkers carry on in the business year after year, waiting to move to the next level and wondering why their success is not happening the way they hoped, no matter how many books they read or seminars they attend.
The second group understands that the highest-paid activity in network marketing is talking to people and giving presentations. Many networkers who haven’t yet “made it big” (i.e. earning a healthy six- or seven-figure income) spend too much time learning how to advertise, build websites and other non-revenue-generating activities, and too little time doing things to grow their distributorship, such as giving presentations to new prospects.
As an individual looking for leads, you cannot compete with the expertise of lead vendors, because they have economies of scale. If you try to compete with them, you are bidding against companies who have thousands of customers (moving 100,000 to 500,000 leads or more per month) and who can get the lowest rate and mass volume, while you’re trying to generate twenty to 400 leads from your personal efforts (online or face-to-face). You are going to pay too much in both time and effort for a lower-quality lead than if you just bought it from the experts.
Adam Smith, the grandfather of modern economics, first described the principle of Labor Specialization in The Wealth of Nations in 1776:
“The specialization and concentration of the workers on their single subtasks often leads to greater skill and greater productivity on their particular subtasks than would be achieved by the same number of workers each carrying out the original broad task.”
Our specialization of labor is giving presentations. Far too many network marketers are jacks-of-all-trades and masters of none. The only activity we get paid for in our business is talking to people: presenting the products, presenting the opportunity, and empowering and enabling our distributors to do the same.
My mantra for building duplication into my organization is: “First find a formula that enables you to do what it is you want your people to do each month.” For instance, if you want your people to acquire ten new customers and ten new distributors personally each month, first find out how you are going to do this.
Once you find a formula that works for you, including how to advertise and generate leads, implement it. As soon as you are able to sign up ten customers and ten distributors a month, write down everything you do to accomplish this and type out everything you say—perhaps even record your phone calls (with permission)—so that the people on your team can do the exact same things you are doing.
Whatever volume you want your team to produce, produce it first yourself, and then write down the answers to the following questions:
Once you have all the answers recorded, duplication becomes easy. You now simply teach your team where to buy the leads, how to use the scripts, and you get the duplication process going fast.
Ten Tips for Using Leads
I’ve been with the same company for thirteen years. I recommend you stay with one company, if at all possible. This is a business of accumulation. My experience has shown me that if your company is still in business and you’re leaving, and they didn’t change anything substantial, you might be falling victim to the greatest killer of success in network marketing: the “grass is greener elsewhere” syndrome.
The grass is always greenest where you water it. If you’re leaving just because you think there’s a better ground-floor opportunity or an extra percent in another pay plan, you create that mindset for the people you bring with you. After a while, they start focusing on external circumstances instead of internal factors, such as their own mindset and attitude. They start asking, “What’s the company doing for me,” versus, “What am I doing to grow my business?”
The best thing you can do is create loyalty and trust in your team. Your people have to know that you are going to stay with them, that you’re offering them a secure and solid foundation to build their future. To attract committed, loyal people, you must first be that yourself.
THOMAS J. HAYES started his network marketing business to earn
a living while attending Columbia University. By age twenty-nine,
he had become a self-made millionaire and at age thirty, he continues to
expand his business globally from his home in Ridgefield, Connecticut.
He was featured in the July/August 2008 issue of Networking Times.