It is businesses in which anyone can invest a small sum of money and through sheer tenacity achieve staggering levels of financial reward and personal freedom. But it requires education based on market tested results. The biggest reason why people fail in Network Marketing or MLM is the lack of training. Before joining you must find out what training the company provides and what training & support the person that is recruiting you will provide. Ask them "Are they willing to hold my hand, go shoulder to shoulder and take me through step by step until I am successful"?
Network Marketing does not have giant signs or large offices, yet according to the Direct Selling Association (DSA) over 13 million people in the U.S. are working in the network marketing / direct selling industry.
They usually offer reasonably priced products and services that people consume in a short time. Generally the commission structure is less up-front then the direct sales companies, but it has a benefit that most direct sales companies do not have and that is residual income.
* It costs much less to get involved with this form of business, a few hundred dollars. * Allows more people to become involved. * Builds Residual Income. * Leverages the time of others.
Network marketing is all about sales and distribution, but a different kind of sales. It’s more of a soft sale or recommendation then the hard closing type that you’re accustomed to with the typical salesman or saleswoman in the direct sales. It is also a recruiting business. Network Marketing does not mean No work Marketing. You consistently need to be speaking to 5 - 10 new people per week. You need to share with them the opportunity for them to be in your business as a representative. The more people you talk to the more success you will have. Unless you are willing to speak to people you can not succeed.
The best approach by far in network marketing is a consultative sales approach. This is used very successfully today. What makes it even more successful is when you are offering services that your customers already use and are able to save them money. Over $30 Billion worth of products & services go through Network Marketing annually.
The 5 keys to evaluate a Network Marketing Company: 1.Credibility of the Company 2.Products & Services of the Company 3.Training offered by the Company & Recruiter 4.Compensation plan. 5.Are you allowed to sell your business or leave it your children
Credibility of the company You want to be sure the company is credible & has integrity. Stay away from companies that are in business less then 5 years. Most Network Marketing companies fail in their first 5 years. Look at the people endorsing the company & owners of the company. Look at the track record & growth of the company for the last 5 years.
Products & Services If you do not believe in the Network Marking Company's products and services then you can not succeed with that company. The reason being you need to be true to yourself. If you do not believe in the products & services then how can you possibly authentically refer them to your friends? If you do not feel good about it don't do it. Remember the example of a good movie or a restaurant.
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