Are you struggling in your Network Marketing business? Do you wonder how your up line are doing so well? I Was in this position and that is the reason I decided to write this article. I just want to share my experience with you and give you a few online network marketing tips along the way.
If you have had any experience in this subject. Please feel free to leave your comments below.
What Is Network Marketing Or MLM?
Network Marketing or MLM (Multi Level Marketing) is the name given to a business where people promote and sell company products for commission and also recruit others to do the same so they can earn a percentage of their sales. The type of people doing this are those who want to earn additional income working from home.
You pay a joining fee which can range from $50 to $1000 depending on the company and it’s products and then a small recurring monthly fee that covers administration and website back office.
Is this a pyramid scheme?
This is one of the biggest misconceptions when it comes to network marketing. If you are already involved then you will know that this is one of the hurdles that you have to learn to handle on a day to day basis.
Unfortunately pyramid schemes do still exist and people do fall for them but actually if you get involved with a legitimate company you can earn some good money that can build up over time to produce a passive income.
Network Marketing companies are highly regulated these days by law and they are quickly shut down or exposed if they are seen to be mostly recruiting and not selling actual products.
There are some great companies out there and if you are looking to get involved in network marketing then send me an email and I will give you my recommendations.
Traditional Network Marketing
Network Marketing has been around for years. Essentially if you like a product or service or even a movie then you will recommend that to your close friends and family. It’s traditionally a word of mouth business which some say is the best possible way to make sales.
One of the first jobs that you will be given when you first start in this business is to build a list of perspective customers. The company will give you memory jogger template that you can use to help you remember all the people that you have ever known in your life and friends of those people.
This list will be added to everyday and this is your gold mine that you will continue to build and build over the months. The list will include family, friends and even people that you are no longer in touch with or don’t even like. After all this is a business.
Job number two is to then learn a script and begin to contact all these people on your new list. For most people this is the most daunting prospect they will ever have to encounter in their business. This is the point where most new network marketers fail.
There are all kinds of methods and scripts for doing this and a good company should provide you with comprehensive training to get over this awkward hurdle.
I struggled with this and I know a lot of others that have done too. This essentially is the make or break part of the business and the first part of what your up line will never tell you when they recruit you.
The Modern Network Marketer
More and more network marketer are starting to utilize the internet to run their businesses. This can be a good solution for many people starting out in the business but it still takes a lot of work and know how to get what you have to offer out there.
There are many restriction around online advertising when it comes to company products and branding and there are a lot network marketing companies that will not allow you to use this method of marketing at all because of misrepresentation.
If you are going into network marketing with a view that you will only be marketing online and never speaking to anyone then maybe this is not the right business for you. You really need to research the companies that you are looking at and see if this is something they will allow.
The internet makes life a lot easier to communicate with your team members and hold online conferences with perspective members or customers.
One way of promoting your products and services online is to brand yourself instead of the products.
For example. John Adams is involved is a distributor for a health and fitness company. Instead of writing ads with the company name on them he sets up his own blog site and starts to review the products and services in the for of articles and post.
There is a great tools to help you do this and the one I recommend and use is called Wealthy Affiliates. They will train you to write articles and teach you how to get traffic to your website. You can check out my review of Wealthy Affiliate by clicking the link below.
This is a great place to get you stared online for any business that you need to get ranked with an online presence.
What Is Your Up Line Not Telling You?
Firstly, when I joined up as a distributor there was a lot that I was never told and had to find out over a period of time. This was mostly to do with how you sell the products and recruit people. I was never told just how hard this would be. I was never told just how many phone calls and appointments were expected of me on a weekly basis. My up line told me that getting customers was the easy part and the products would sell themselves so I just had to show brochers and get people to watch a video. Sounded real easy to me!
What I WAS told.
I was told that anyone can do this and the earning potential is so high that in just a couple of years I could retire from my full time job. I have sat in lots of company presentation meetings where the have an incredible nack of presenting you with amazing facts and figures and you always come out feeling like you can conquer the world.
When it comes to building your business in network marketing you will always need to sell a certain amount of products per month but the really big money earning potential comes from building a large team. You will then be paid a commission for every sale your team members make.
This means that there are a lot of distributors out there that will recruit for the sake of recruiting and try to get you to do the same as quickly as possible so that you get as many people involved before you fail.
90% Failure Rate
Unfortunately this is true. Actually not just for network marketing but for any new online business. People don’t really understand what it takes to run their own business and when they have their first set back, they quit and say “it’s not for me” or “it does not work”.
It takes the right attitude and the right mindset to make a successful business. You can see my article on entrepreneur mindset below.
My Tips For A Successful Network Marketing Business
You should only every promote products that you are passionate about. Can you imagine trying to sell something that you don’t like or can’t be bothered with. It will never work. People buy into your enthusiasm and belief in a product or service. If you don’t love it then it will come across in your business.
Commit yourself to making a success. You have to want to success and if you don’t have commitment then you will loose interest in a few weeks.
Stay in touch with everyone in your business and lead by example. You will have good days and bad days and one of the best ways to keep going through these ups and downs is to stay motivated by speaking to your team members. The chances are they will be on an up when you are down and this can benefit you all.
Personal development is a massive part of any new business. There are a ton of books available in network marketing that can help you with the psychology of this type of business so get reading.
Here’s to Your Success
I hope you found some value in this article and I want to wish you all the success in the world with whatever type of business you choose.
It’s an exciting world out there and with the right mindset and attitude you can make anything happen.