In my opinion everyone should invest in a network marketing business because it’s one of only industries where you can earn residual income. With that being said, network marketing is unlike any other industry and some people who get into don’t understand how it works.
If you are working in corporate America you can pretty much garner a check while doing the bare minimum of work as long as you stay under the radar. If you are given more responsibility, whether you want it or not, you have to rise to the occasion no matter how uncomfortable that new responsibility is, otherwise you don’t get paid.
The caveat in MLM is that people quit as soon as it gets too hot or when they meet with the slightest resistance within or outside of themselves. You see, there’s no substantial risk in quitting an MLM business like there is with a 9 to 5. The cost is relatively low with an entry fee of anywhere from fifty bucks to a thousand dollars, which is chump changes in comparison to your traditional business model which can run you hundreds of thousands of dollars to start it up and keep it running.
However the truth of the matter is, in order to be successful you are going to have to do things that are out of your comfort zone. Since you’re not getting a regular paycheck like an employee, it is the norm to see many people give up on their dreams of owning a business and run the other way. They therefore fail before they even get started.
This is the main reason for the 97% failure rate.
They are not willing to grow into their success.
If you’re looking to try your luck in this industry you have to let go of all preconceived ideas and be willing to learn and grow into your success.
So what does it take to be successful in the network marketing industry?
What sect or group of people would make the best network marketers and the least likely to run off at the slightest opposition.
In This article I’m going to explore the most target groups by network marketing prospectors and see how they measure up.
There are some groups of people who naturally excel in this business without experiencing as much of that “growth period” I’ve been talking about, but it is rare. They seem to have certain skill sets that coincide with the MLM business model which makes it easy for them to make that transition from employee to business owner.
The Sales man
The sales man is really good at persuasion. He/she has the ability to create belief within them selves for any product they are promoting at any given moment. They are natural geniuses when it comes to being able to transfer the energy of that belief to whomever they will. This is essential in getting people to see your vision and ultimately buy in to what you’re selling. My husband is really good at this; he was born with this talent. I on the other hand, had to learn and grow into this skill and I’m still working on that.
The problem that some sales people come up against in the network marketing industry is that they can come off as pushy or too “salesy”, (think used car salesman) and this approach cannot survive in the network marketing world. Network marketing is a social phenomenon. You’re working to build relationships and trust and then share what it is that you have that may solve their problem or satisfy their particular need.
Most sales people, depending on the industry of course, are about getting in and getting out. Getting that sale and moving on to the next one.
Now don’t get me wrong, there are many successful ex- salesmen who have very successful MLM businesses, but I believe that many of them will agree that they had to learn how to be more patient while changing their approach.
Another aspect of network marketing is team building. You’re goal is to build on organization by teaching and training other people on how to build their businesses. Most sales people are a one man show, so this is something they are going to have to learn and take the time to cultivate. In this industry, you cannot be successful unless your team is successful.
The Stay At Home Mom
The stay at home mom is seen as someone who usually has more time to work a business from home. Many times they have a big network of people in their circle of influence, which means more people to share their opportunity with. For example, they have access to other stay at home moms, the PTA, and sporting events that their kids are involved with, which gives them a wide access to people who my also be looking to spend their time creating some extra income while still being involved in the lives of their children.
Many women in this group can sometimes feel undervalued and want to do more to help provide for their kids financially without having to work for someone else.
This brings us to one of the top reasons stay at home moms can do well in a MLM business.
Stay at home moms have a very strong WHY….
What is that WHY?
Giving their kids the best life possible and being able to stay home and raise them, is the strongest motivation of the stay at home mom, which will keep them from giving up.
The thing that seems to hinder some stay at home moms is fear and self doubt, especially if raising their families has taken up the majority of their work history. Why is this more prevalent? Usually because of their lack of experience in the business world which has caused some to feel unqualified to start and run their own business.
The beauty of network marketing is that it is a totally different animal when compared to the brick and mortar version. You are in business for yourself but not by yourself. In this industry you have a very big support team whose sole purpose is to help you be successful. All you need to do is say yes to the plan!
The process of building your business, if you don’t give up, will cleanse you of that fear and doubt because you know if you don’t face what scares you, you will never overcome it. The MLM industry is known for its personal development platform. In fact, it’s the life blood of the community because it promotes the understanding that “Mind is The Builder” and it must be nourished and uplifted if one is to see success.
Now, you would think the CEO of a company coming from corporate America would be the perfect candidate for network marketing, and if done properly, they can be.
The CEO would already be endowed with excellent leadership skills or they could never have reached that level. They understand business in a big way and know how to manage a team. But see, that’s where the lines get blurred.
When you hold a high seat in corporate America you are in charge of a slue of employees. You must lead them and make sure they do their job and help to create revenue for the company. If they fall short it looks bad on you.
The difference between owning an MLM business is that it is based on people joining with the hopes of working for them selves one day. They are there because they want to be and not because they have to be. The CEO, manager or supervisor have EMPLOYEES that NEED to be on the job if they want to get a paycheck to support there families.
Leading them won’t be that difficult because if they fall out of line, they can always be replaced. Now this can be a double edge sword. People are in an MLM on a volunteer basis, only their own will to succeed is keeping them in the business. That means it would be much easier for people to drop out if they feel they can’t do it.
If the CEO can learn to lead and guide instead of manage, motivate instead of mandate, he can take those skills and abilities and build a million dollar business.
The Realtor may feel the most at home as a network marketer and experience the least amount of resistance.
Realtors have very similar responsibilities, skills and characteristics that the network marketer must have. Getting referrals is the bread and butter of their business. Realtors have to talk to people constantly and they can’t be afraid to pitch their services. Being commission based, similar to the MLM’er, they must always be in the hunt for that next sale. If they don’t create relationships with other agents, brokers and loan officers, they will easily loose business to the competition.
They must believe in their ability to get their prospects into the home of their dreams. The most successful realtors are persuasive, persistent, are good cold callers and are not afraid of rejection and they must achieve all of this with minimal to no supervision.
One of the challenges realtors experience is their inability to leverage the internet when it comes to marketing their business. Most are boots on the ground marketers which is an excellent skill to have, but with the advent of the internet, their customers are looking more and more online to find a home and that’s were they need to be. This is also the problem with some network marketers but, they seem to be able to make the move to online marketing at a faster rate.
Another issue that realtors face is in the fact that they don’t get paid until they sell a house. Which, unlike the network marketer, this adds up to the inability to create residual income. Still, using those talents and skills that make them a great realtor can also excel them in the network marketing industry. Diversifying their portfolio by investing in an MLM business would be something I would highly recommend.
Network marketing is a rewarding, exciting and unique industry with the opportunity to make the newbie marketer millions.
However, not many people are prepared for what’s needed to succeed in the industry. These skills must be learned and cultivated. As long as you are willing to stay the course and move through any perceived limitations, ANYONE can be successful in the network marketing industry.
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