The Ebb and Flow of Network Marketing
A network marketing opportunity, or MLM, is a business venture that allows an individual to become an independent contractor by selling their own products and services. Network marketing is a form of direct sales. It’s primarily concerned with compensating one’s self for the time and effort put into building a network in order to sell or market goods, services, and ideas.
We've compiled this lengthy guide with all the information you need to understand what it's like to be successfully involved in this type of business venture. In fact, if you are a new or prospective MLM marketer you can use this guide to help better educate yourself about the industry.
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What Is Network Marketing?
Here's the definition from Wikipedia:
Network marketing, also known as multi-level marketing (MLM), direct selling or sometimes pyramid selling, is a marketing strategy for the sale of products or services where the revenue of the distributors may be derived from a pyramid structure or a chain referral network. There are many variations of network marketing and some companies may use different names.
Network marketing has been used in North America mostly by direct selling companies, but also by multi-level companies. They may incorporate additional business models such as action plans, which is a service offered to customers who buy products or use services. Most commonly known network marketing businesses today are The Pampered Chef, Tupperware and Amway amongst others.
A person who wants to build a career in multi-level marketing must learn the tools of the trade and have a solid understanding of the industry. This will not only help you run your business more efficiently but also give you the chance to truly enjoy what you do for a living. MLM is an exciting venture, but it also takes a lot of hard work, dedication and time to succeed.
MLM is a very lucrative business that can be extremely rewarding. So if you’re not doing it because you love what you do, perhaps it’s time to take a fresh approach. As with any other business endeavor, the more educated you are on the subject matter, the better your chances of success. If you’re looking for information on how to get started in a career as a network marketer we have provided an extensive resource guide below that will answer many of your questions and give some tips and insight on where to get started.
You will also find a wealth of information and guides on all types of marketing opportunities. So if you are interested in becoming a success in network marketing, start by checking out the links below.
If you want more information on how to get started check out these video courses:
How To Get Started In Network Marketing?
There are various starting points to network marketing which is an adventure in itself. All beginners should know the structure that like-minded people use to achieve success in the industry and find their own niche.
The first step to becoming involved in network marketing is to seek out a company that has an opportunity you want to pursue. There are literally hundreds of companies with opportunities in network marketing, so take your time and find the right one for you. Depending on what you're looking to do, there are several paths that can lead you to success as a network marketer:
You're experienced in Network Marketing; maybe you've had some success with another MLM company or another direct sales model. It's not hard to start your own business when you already have practical experience and knowledge about the industry.
You're a newbie who wants to learn all you can before jumping into the fray, this is a great starting point. You don't have to start at the bottom and learn everything that's involved in MLM, you can start your own with a company that has an opportunity you want to pursue.
You feel like having some fun and selling some network marketing products part-time or on the side; why not? It's not a bad way to make extra money. If it turns out great for you then maybe you can make it full time eventually (many people have). Either way, it's worth a shot.
You want to get your friends and family involved who are interested in working from home as well; what better way is there than network marketing?
You're a company seeking investors to start or grow your business; if you're looking for cash (or other resources) check out our MLM Funding Guide. If you have funding and the right opportunity you can have a lot of fun with network marketing ventures.
What To Look For In An Opportunity
There are many ways to get started in network marketing, but all should follow the same procedures to be successful:
1) Find an opportunity you like. Do it your way. If you have an accountant and a lawyer as buddies in your network, then by all means start a company that has nothing to do with network marketing. It's as simple as that. For every one business opportunity out there, I know of at least 20 companies that are operating underneath the surface and doing the same thing with their products.
A good opportunity should first:
- Have a professional presentation, including a business plan.
- Have an angle that you can market; this could be the product or service itself, or the support system offered by your company (the people who sell it to you).
- Be legal and ethical; don't do anything illegal or unethical.
- Have a product or service that is appealing enough to get people to buy it.
2) Follow the basic procedures I'm about to outline in the next section and you'll be off to a good start. The first few months will be the hardest, but if your hard work hasn't gone to waste by then chances are there are other people out there struggling just as much as you are, so you'll have an audience for your presentation (although I would recommend you have a very strong one).
3) Sell your opportunity. This is what everyone wants from network marketing, but of course it takes time and effort. In order to do this…
- Know why you're in business; what problem are you solving? Find a need and fill it. No one is going to go out of their way to help you if they don’t believe it will benefit them in some way (even if they don’t personally understand the need). If they don't see value or know how your product will help them, then chances are they won't buy your products. You have to find a niche that people are willing to pay attention too and understand, then go straight to those people and treat them like the commodity they are.
- Build relationships with influencers; the word "influencer" means "to influence.
Conclusion: Use a network marketing business opportunity as a stepping stone to extending your influence and business success beyond your reach. These businesses can help you be more successful in any endeavor.
Chapter 5:
Building A Brand That Stands Out From The Crowd
“I'm building a cult around me, people think I'm brilliant, the whole world is my temple.” - George Harrison (1943-2001)
When you're ready to build your network marketing business you need to have a strong brand that stands out from the crowd. This is exceptionally important when you’re just starting out because if nobody knows who you are and what you do, then there will be no one to sell for you.