The End of Network Marketing?
What if you could crush the competition and start generating a six-figure income in your own business, without having to spend a dime on advertising? Now that would be a dream come true!
Unfortunately, network marketing companies are the latest trend. There are thousands of them out there, but is it possible to get started with this type of business? Yes – just follow these 4 steps below:
1) Be prepared to work hard and stay focused on your goal. Network marketing requires persistence, determination, and perseverance. Some people sign up for an MLM company only because they hope that it will provide them with easy money once they invest some time selling products online. However, this is rarely the case. If you want to succeed in your MLM career, you should know that it requires hard work and patience. You have to stay focused on your goal and never lose sight of it.
2) Be prepared to invest your time and money into MLM training and other resources (e.g., online marketing, autoresponders, promotional products). Unfortunately, there aren’t many shortcuts in network marketing. It’s not going to be a piece of cake – you will have to work hard if you want success with this type of business. Besides, you will need to spend a lot of your time and money on professional tools, training, and other necessary marketing materials.
3) Be prepared to work hard and invest in your personal business development. Network marketing requires you to be a leader in order to succeed. MLM companies are made up of leaders who are willing to invest quite a bit of their free time into constantly educating themselves about their own business, as well as developing new skills and resources that they can use if they choose to start their own network marketing company.
4) Think positively – don't let the competition get you off track! Some people quit because they begin feeling stressed out, frustrated, or overwhelmed by the competition. But this is not a good reason to quit. When you feel overwhelmed by the competition, it’s time to think clearly and search for a different solution. The second step you should take is to think positively. Instead of worrying about the competition, start thinking about how you can overcome them. There are plenty of opportunities out there – instead of complaining that there is too much competition, use your energy to find the right solutions to beat the competition.
Despite all that you might hear, network marketing is not a dead end street. You will have to invest some effort and resources into your business if you want it to grow, but if you do so, this type of business can definitely be a very rewarding experience for you. If you follow these 4 steps and never quit trying, success will be well within your reach!
Title: Wasted Time and Money
By: Bill Jackman http://www.biggerpockets.com/blog/wasted-time-and-money
I've seen dozens of newly launched network marketing companies and it seems that most are NOT making much money for the distributors, but I have yet to see one that has generated wealth for the investors or founders. In fact, most new companies fail and lose their founders a lot of time and money. Many people find themselves in this situation: invested thousands but unable to make money, because they gave up too soon on a company no matter how good or bad it was.
The only way I know to avoid this is to spend at least 6 months learning about an MLM business before you invest any money. I recommend spending a full year researching and learning to avoid common problems. In the end, you will have a better product that you understand and be less likely to invest money, time and energy into something doomed for failure.
Title: 10 Mistakes Network Marketers Make
By: Steve Aitken http://www.biggerpockets.com/blog/10-mistakes-network-marketers-make#ixzz2D6pNLLbU
Did you know that more than 85% of network marketers drop out within their first 18 months? That's an astounding statistic considering the fact that there are currently over 1 million network marketers building downlines and making money in one form or another.
In fact, I'm willing to bet that some of your friends or family members are involved in network marketing for some type of low cost goods and services. And yet, despite the high number of people involved in the industry, only a relatively small percentage are able to earn a sustainable income from their efforts.
What's the difference between that 8 out of 10 who quit and those who succeed?
I've spent a good part of my life being involved with many different types and styles of network marketing businesses. As such, I've witnessed first hand many people who have made common mistakes when building their business.
And today I'm going to share with you the most critical mistakes that network marketers make, which inevitably lead to failure.
Mistake #1: Not Really Understanding the Business
Network marketing, without a doubt, involves a business aspect as well as a marketing side. When you are new to network marketing you are often first exposed to the marketing side of it before really learning what it takes to build a good solid business.
The truth is, most people who struggle in this industry never really learn how to properly build and market their business.
And without a good business plan and solid marketing skills, there is nothing that can prevent you from quitting network marketing before you ever had a chance to see any type of real income coming in.
Mistake #2: Not Understanding the Importance of Marketing
As an entrepreneur, you have to have a diversified set of skills. You need to be able to operate and manage anything from a small restaurant business, up to and including running a large corporation. So why does network marketing require that you are highly skilled in both the entrepreneurial and the general business side? The answer is quite simple:
Because there are no shortcuts... It takes time and effort to learn how to effectively market your business.
There is no magical way to instantly create a huge income by simply having your friends and family support you.
In network marketing, you have to learn how to market your business if you want any chance of success. The reason that most people fail at network marketing is not because there is something wrong with the business itself, but rather it's because they just don't understand how to properly market themselves...
Mistake #3: Not Setting Goals and Taking Action Every Day
Daily action is a biggie isn't it? With so many things competing for our attention every single day it's easy to lose sight of whether or not we're really making progress towards our goals.
But just like the old saying goes...
Conclusion:
Here is a short list of 5 questions to ask yourself if you're considering joining a network marketing business.
1. Does this business look like a viable opportunity for me?
2. Am I able to actually make money from this business?
3. Are there any hidden costs in the business I should be aware of?
4. Is there anyone who has done well in this industry and can I find information about their success online?
5. What are the risks involved with going into network marketing and how do I know if it's worth it for me?
I hope this helped you with some of your questions about whether or not building your own network marketing business is really for you.