Tidalwave Seminar - Ed Ludbrook

I was on an awesome webinar by Ed Ludbrook last night.  The topic was 'How do you get success in the  network marketing business'.  Here are my notes - hope you get some value from them.

Success is reached by earning a little bit of money from a lot of people (residual income).  Therefore, you need to create numbers.  Duplications is what creates numbers.

Momentum = state of growth when your business grows by itself.

What is success as a network builder?
Success = when the investment you made is worth it!  This usually comes at the 'Team Leader' status of most network marketing companies and is where you are earning an income PLUS the company incentives (eg cars, holidays, bonus cheques etc).
Therefore, you need to set your goal at this level and know what is required to get there (sales volumes, number of sponsored members).
To do this..you need to create MOMENTUM!

Momentum = Team Leader = Success.

Momentum = Sponsoring Speed. 
It is possible to create growth WITHOUT creating momentum but this will not allow your business to TAKE-OFF!
You need to create a tidalwave of momentum so as to avoid the situation where new team members lose focus and stop working.

3 Enemies to Creating Momentum

1. 
   
   Confusion (kills confidence) - this can be created when your system is too complex or is incomplete. Effective coaching eliminates confusion.
2. 
   
   Attrition (people stop working) - to achieve momentum, your sponsoring must be faster than your rate of attrition. You need to build an 'active' group.  There are 2 types of attrition: Natural = people stop for their own reasons = their fault.  Excessive = something wrong with your system = your fault. Coaching kills excessive attrition and increases productivity. Coaching is the key to confidence; confidence creates action; action creates momentum.
3. 
   
   Gravity (negative emotions kills confidence, optimism and creates procrastination) - people need to have the BELIEF that they will succeed (get rich).  Rich = choices / relationships / freedom. There are 3 kinds of action/belief. i) Inspirational - 'I think I can succeed' ii) Competence - 'I am learning to succeed' iii) Performance - 'I am succeeding'.  The problem is most people jump from Inspirational to Performance too quickly and this leaves a Competence gap.  It is important to become competent!

Massive urgent action is required.  This comes about through opportunity and fear of loss.  This allows your business to TAKE-OFF!

It's important to always have a full-time attitude (even if you are part time in your network marketing business).  Work flat out for 6-18 months and reap the rewards. There can be a short-term confidence period but still have the full-time attitude.  The confidence period is where the correct skills are learned.

2% of people will go straight into the Take-Off period.  98% will either go into the confidence period or will stop.  Therefore it is important for your business that you give this 98% the correct coaching to allow these guys to enter the Take Off phase.

Challenges

• 
  
  Keep it simple
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  Do NOT ignore learning
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  Build confidence
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  Build independence

Final Thoughts

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  How many people could you sponsor if you knew they would succeed?
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  You need to believe that new prospects will succeed.
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  If your coaching is correct, people will succeed.
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  Build confidence through effective coaching
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  A potential business builder will join something they believe they can succeed in - but there has to be a buzz around the business to attract and hold onto these people.