An interesting thing to know is that in the home business industry, your income is not determined by any one other than you.
Isn’t that awesome? You can decide when you want a raise in your income . . very far from possible in regular employment.
Your income in Network Marketing is based purely on productivity, not just showing up for 8 hours a day.
IncreaseÂ your income fromÂ home business?
First things first!
I learnt about The Law Of The LidÂ from John Maxwell’s book ‘The 15 irrefutable laws of leadership’ and it’s about the second law in the book.
The Law of The Lid
In my own words, the law of the lids states that your level of success is directly proportional to your level of personal development. It also means that your level of effectiveness is directly proportional to your level of leadership.
Your leadership is like a lid or a ceiling on your organisation. Your business will not rise beyond the level your leadership allows, and so also your income can not grow beyond your level of growth as a leader.
A lot of network marketers place very high priority on learning MLM Recruiting Techniques or MLM Prospecting Techniques, but there’s Â also a lot that depends on your leadership.
According to John Maxwell, ‘Everything rises and falls on leadership’, . . .everything including how much you make.
When it seems like you aren’t making any more money no matter how much effort you put in, be rest assured that the law of the lid is in effect and the only way to raise your income is to raise theÂ lid!
How To Lift The Lid And Increase Income Without Working More
1| Commit to Personal Development
You must have an unflinching commitment to personal development and growth. And I’m talking about more than just techniques and know-how.
To Raise Your MLM Income, you will need to learn a lot of other skills along the way ranging from public speaking to team building, people management, training and coaching, motivational skills, and so on. So even if you are the best recruiter, your team may suffer from the law of the lid after a point.
So Personal Development does not only increase your skill sets, but itÂ alsoÂ increases your effectiveness.
Read a chapter of a book everyday.
Success = Your Financial Vehicle x EffortÂ x skill.
You know youÂ have the most rewarding financial vehicle (Network Marketing) and you can go all out with crazy effort to build your business. But if your skill level remains at 1 or 2, your income will almost certainly never increase beyond a certain range.
I get the excuse ‘I don’t have time’ very often but there are ways around it, especially when you are aware that is has a direct impact in raising your income.
When I am very busy, I make sure I read a chapter of an uplifting/ educational book everyday or at least 10 pagesÂ every day. This may take you between 10 – 20 minutes depending on the length of the chapter but let’s do the math.
If you read 10 pages of a book a day, in 365 days, you would have read 3650 pages, that is an average of 10 – 12 books a year on your niche.Â If you commit to this, you are already better off than 95% of others in your industry because only a very few people are committed to personal development.
2| RaiseÂ Your Association Networth
Basically, you need to start hanging out with the right kinds of people. You must make a conscious effort to associate with people that can raise you up and not those that can bring you down.Â This doesn’t have to be done in a dramatic way where you seem rude or snubbish to your friends, although there are some people you need to cut off from for the sake of your future.
The more important thing is to start forming new relationships with people on the same path as you as well as people who are already where you want to be. When you start spending time with people more successful/ ambitous/ focused than you are, it starts to rub off on you over time.
2 Ways to Rapidly Upgrade Your AssociationÂ Networth.
- Attend Events & Meetups: If you want to create Network Marketing Success and you are not attending your company events, you really have no shot at success. Because you won’t be able to build up the belief system to go out and crush it.Â So make a commitment to attend company specific events, and also other related events in your area for a start. I can say that some of the best relationships I have now are with people I have met from attending events in different countries. Some of them have even become very close friends and helped raise me up even more.
Note: I know you don’t have time. . and you are already very busy, but no one really has the time . . and those attending the events are equally busy. Â No one has time – All we have are priorities and you have to make this a priority for the sake of your business and your future.
Join A Mastermind Group . . . or create one:Â A mastermind group is a very effective platform to share your ideas, receive criticism, get inspiration and generally grow with a few other committed entrepreneurs who are also on theÂ path as you. You do not need a large number of people to have an effective mastermind group.Â 5 – 7 committed members can make for a really effective mastermind.
You must ensure that the mastermind group you join or create is made up of people that can bring positive energy, experience and drive. So do not just join or create one for the sake of creating. Remember the reason for doing this is to increase your association networth.
And you really do not have to go so far to get a mastermind group setup. You can find people in in your team or your company who are interested and just start something.
Did This Post Help you? The fact is that if you want to raise your income in network marketing, you should at least give yourself the best chance of succeeding and go all out to create your success.
Here Are Some More Resources on Raising Your Income.
- 8 Steps You Can Take Starting Today to Dramatically Increase Your IncomeÂ
- Increase Your Income By A Factor of 10 In Network Marketing [VIDEO]Â
- Jon Melton Explains What To Do To Scale Up Your MLM Income [VIDEO]Â
- Pat Flynn’s Talk About Mastermind Groups and Mentors â€“ Why You Need Them and How to Find Them
If you learnt a thing of two from this post, please take a 30 seconds to share this with others.
I’m curious! Do you attendÂ your company events and do you have a Mastermind Group? Let me know in the comment box below.
“Cracking The Code To Network Marketing Success”
PS: Click Here To Watch My Free Webinar On How To Build A ‘Top Earner’ Income Using The Internet.
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