Network Marketing If you know my story, the network marketing industry is where I began my path to being an entrepreneur. I love the network marketing industry, I grew up with it, and had I not made the decision to be a successful network marketer, I would have never discovered the amazing world of internet marketing. So here is some basic information on the business to help you make an educated decision in your entrepreneurial efforts. If you’re already in network marketing, you will want to incorporate online marketing techniques to help you get more leads for your network marketing business. I personally hated trying to get my friends and family on board with my biz and the internet helped me find a targeted stream of leads on a daily basis. And seriously, what’s a business without leads, right?
Network Marketing|What is it exactly
Wikipedia says, network marketing or multi level company, is way of doing business in which a sales force earns a commission not only for sales of products and services they personally generate, but also for the sales of others they recruit and bring into the business, which creates a down-line of distributors and a hierarchy of multiple leveraged levels of compensation. Multilevel marketing is the business plan or structure that Network Marketing and Direct Sales use. Companies like Amway and Tupperware have been doing this successfully for over 50 years. There could be multiple levels of customers in a distribution hierarchy with distributors bringing in more people into the distribution network which are rewarded with a bonus income on top of any retail sales earnings. This structure is very similar to franchising. Network marketing and Direct Sales fall under the same umbrella, where products or services are offered on a one-on-one basis and sold directly by the salesperson to the consumer. However, direct sales people are paid based on their personal sales rather than on building an organization of other salespeople, unless you achieve the level of a manager. And since most products marketed by direct selling companies tend to be durable goods rather than consumable goods, there usually is limited potential for residual income. When you thing of the direct selling industry, think home party companies like Mary Kay or Avon. Start up costs? Most companies offer a starter kit designed to help the new distributor to get their business up and running . These kits usually come with catalogs, business flyers, samples, demonstration products and assorted other business supplies. The size and amount of product you receive will determine the cost of the kit. The starter kit combined with a small registration fee can run you any where from $30-$1,000. Monthly costs? The majority of network marketing and direct sales companies feature an auto-ship program which allows you to satisfy the minimum monthly volume requirements required to qualify for commissions at your level. Depending on the products offered, the monthly costs can run around $70-$300. Pro’s Work your own hours Many people join who join an MLM already are working part time or full time outside the home. You can work your business whatever hours you choose. Of course, the more hours you put into your business the faster it will grow, but even a few hours a week of positive action will yield results for you in a year or two. Choose who you want to work with This is unlike a job where you have no control over who your coworkers are. In network marketing you pick the people you want to share your business with. This is why many network marketers start with friends and family first. They know you and trust you and what you have to say about your product or service. So we decide who we want to work with, and its up to them if they decide to join us. Low sign up fees Most network marketing companies have low sign up fees and monthly requirements. Where else can you start a business for less than $100 which is typical for most MLMs. Contrast this with a franchise which costs thousands to buy, and then you have employees and all the headaches which can come with owning a brick and mortar business. In most cases you are required to make a monthly purchase of product or products to stay in good standing with the company, which can range from $50 – $100 a month or so.
No staff to hire, and usually no paperwork. Your MLM mails out the checks, delivers the products to your customers and distributors, and handles any returns. Your job is to introduce new people to your product and business and the company handles the rest for you. If you decide to learn how to use the internet to market your network marketing opportunity, then you are not just limited to who you know or who you can physically meet. If you are in a network marketing company that is global or at least in multiple countries you can sign up a distributor who lives thousands of miles away from you, whom you would otherwise never have in your organization. Those who want to market online will often choose a company in multiple markets for this reason, so they are not limited to North America.
Though the MLM/Network Marketing business model has been successfully and legally doing business for over 50 years, there is still some that believe it’s a pyramid scheme. New marketers usually have to contend with that stigma. Most people getting into the business don’t really understand that this IS in fact a sales and marketing business and they need to be open to learning how to position themselves. Finding people to market to has always been limited to friends and family (until online marketing came along) and companies are still teaching this way of prospecting. Because of this, people often times get discouraged and quit the business too soon. One of the top reasons people quit network marketing is due to lack of support up-line. Often times its easy to get sponsored by someone who wasn’t trained correctly (my experience) and has no understanding of the industry they signed up for. Like an absentee parent, they’re not there to help you build you business, which is the ultimate role of someone who sponsors you in. Read my article how to choose a network marketing company. Offline prospecting can be a headache and sooner or later you’re going to run out of friends and family to pitch to! To tap into an endless stream of leads, you need to get online, and you need to have a system! If you’re hurting for leads, but don’t have a fortune to spend on the training to learn how to get leads, I highly recommend that you plug into a proven system that will not only train you, but will do all of the marketing for you. If you’re ready to commit and take your Network Marketing business to the next level CLICK HERE and ask to join Back to Top