Many companies spend a lot of money hiring sales and marketing professionals and a lot of money on advertising.
In a Network Marketing business the company uses independent associates to market their products. When you sign-up as an associate you become a member of their sales force and the success of your business will depend on you getting the word out.
You get paid a commission when someone you refer places an order.
Depending on the type of business you can also make money when you buy the product at wholesale rates and resell at retail in many cases. The marketing is done through your own advertising as an independent business owner. And the company has eliminated a lot of marketing costs-it is given to you instead of the associate.
When you sponsor someone under you (your down-line) to become an associate you receive a percentage of the business they generate.
This is referred to as “residual income”. If you are successful and you help your down-line succeed, the amount of residual income can grow over time. Reproduce this a few times and you see how you can build a significant residual income.
Network Marketing is one of the greatest industries, but it’s also a misunderstood one.
Ask people on the street what network marketing/MLM is, some will say “What’s that?” or “Isn’t that a pyramid scheme?” Everybody has something different to say. It’s an Industry that has produced the most millionaires of any other industry and allows the average person to truly build their own business. But it’s also an industry that has produced many, many “failures”.
The reasons people fail in this Industry is not because the industry is a scheme or a fraud, they never really learn how to be effective, how to truly market themselves, how to be a real leader and how to truly have the right mindset to succeed.
What You Need To Succeed In Network Marketing.
“To truly succeed in this Industry, you really need to build certain skill sets and be willing to evolve. As one of my mentors put it “The “old” way of doing business is not as effective as it once was.” – Jaime S.
You have to be willing to adapt and be a “well-rounded” marketer, searching all alleys for what’s working these days.
Learn The Basics of Offline Marketing.
- Attend Events
- Choosing People Out On the field
- Promote your own “event”
- The Correct Way to Start a New Associate
- Plus More.
- Personal Branding
- Lead Generation
- Attraction Marketing
- Plus More.
Now all the information you’ve read is great information and that’s all it is.
If you’re looking to jump into network marketing do your homework with a solid company that’s been around for a while, that has a great success rate, has been featured in all sorts of magazines, a great rep. training program, awesome compensation (pay) plan & awesome leaders.
Do your homework.
Even if the company you decide to join fits all your criteria for a good solid company, you still need a good attraction marketing system. One that will allow you to sponsor more reps, train your new reps to duplicate, make money off people who say NO to your primary opportunity, present your opportunity while you’re catching some Zzzz’s and learn how all the big time MLM’s are making the big bucks!