Anyone that has ever pursued the dream of having financial freedom has most definitely considered the profitable aspects of network marketing. Although this business has a somewhat tainted reputation due to scam artists who have created pyramid schemes in the past, it is actually one of the best business models you will ever see, especially in regard to its ability to generate residual income for many years.
The key to making this type of business work is by networking with people. It is founded upon the idea that by getting more people to join the business, you will have more individuals earning money for you day after day regardless if you show up for work or not.
Of course, you need to also work the business, but in the same way a real estate broker makes a commission when realtors make a sale, network marketers also make money when their downline performs. Here are a few tips that you can use to get started in MLM, tips that will show you why it is definitely a viable business option.
Joining a network marketing company is not that difficult to accomplish. Like a country club, or joining a union, there are dues that must be paid, and an upfront fee for joining. This is very common for many businesses, with the exception that you have the ability to start making money with every person that joins under you.
Any traditional business, you can only make money when sales are made. If you have employees, they are probably costing you more money than you are making off of them. You have a great deal of overhead, and a variety of other expenses associated with running a real world business.
But with multilevel marketing, you can on the hopes and dreams of others, the same hopes and dreams that you have and the reason that you probably joined to begin with.
One strategy for making MLM work is to focus on the dream. The concept of the business itself will function without you having to think about it. Your goal is to proselytize individuals who are like-minded, convincing them to join under you creating your downline which will make you a great deal of money over time.
You also need to realize you need to motivate these people, keep them going, keep them focused. This is how you will begin to develop your network marketing business, and how you will teach others to do the same. It is only through helping these individuals succeed that you will also succeed from their efforts and your own.
One other thing you should consider is marketing only to people that are like-minded. If you approach someone who is happy with their job, who does not have any financial worries whatsoever, you will more than likely not convince them to become part of the company.
However, by focusing on what the network marketing company is about, and promoting this to like-minded individuals, you will be able to build your downline very quickly and start profiting from your efforts day after day.
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Network Marketing – What Is It?
The term Network Marketing can mean a lot of different things depending on who you talk to. To some people it’s the greatest thing on earth and you can make millions of dollars with the help of building a great team of people. To others, it’s just a waste of time and money and the whole idea is just a pyramid scam.
The actual term really means that sales of a product generate a commission where the sales person earns a percentage of the commission on product sold by them personally, as well as sales produced by anyone that person recruited into their business and is thus known as their “downline.”
When someone enters into network marketing, he or she basically signs up with a company, agreeing to sell their products under their guidelines as an independent contractor or distributor. It doesn’t usually cost very much money to begin so just about anyone can do it.
It’s not like trying to purchase a franchise of some sort, which can be hundreds of thousands of dollars to start. Network marketing companies range from everything from cosmetics and skincare, or herbal products or vitamins and the list goes on.
One thing that appeals to a lot of people when starting in the network marketing realm is that being an independent distributor means working for yourself, making your own hours, working from the comfort of your own home, and you have the potential to be financially free and essentially “fire your boss.” However, that also means there is not an automatic paycheck that comes in and it really takes a lot of self-discipline to do the business.
Network marketing can also be known as multi-level marketing or MLM. It’s pretty much one in the same. There are literally hundreds, if not thousands of network marketing companies out there to choose from and they all have various designs in how the company is structured. There are various “levels” for consultants to reach as they grow their teams and climb higher up the ladder.
These companies use a variety of names for the various levels of completion that can be anything from “district manager,” “vice-president” or “diamond level executive” to “black diamond,” etc. It gives the distributor something to shoot for when planning individual and team goals for sales and for the company as a whole.
The essential part of realizing what network marketing is, is that there is a product that must be sold in order to make commissions. Nobody goes anywhere without those sales. It takes hard work, discipline, talking to people, working with a team and training a team to be the best and have a common goal. Even if there is a common goal, the business definitely has a lot of attrition because not everyone is good at being their own boss.
In order to be successful in network marketing, one has to be committed, persistent and not be afraid to hear the word “no” being said to them over and over again. With the laws of the universe, when you hear enough “no’s” that just means you’re one step closer to hearing a “yes!”
