7 Tips for Network Marketing Success

You probably have an image firmly planted in your mind of what network marketing (also known as direct sales or multilevel marketing) is all about--housewives buying and selling Tupperware while gossiping and eating finger sandwiches, or a high-pressure salesperson trying to convince you how easily you can become a millionaire if only you and your friends and their friends and so on would buy and sell vitamins with him.

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Both of these images couldn't be further from the reality of network marketing. It's neither a hobby nor a get-rich-scheme but an opportunity for you to earn money running your own part- or full-time business.

But what does it take to succeed in this industry? Vincent J. Kellsey, director of member services for the Direct Selling Women's Alliance, an organization that provides a variety of resources to women and men in the direct-selling industry, offers these tips for making it:

Choose wisely. There are six key elements you should be looking for [when selecting an opportunity].

Number one: stability. How old is the company?

Number two is excellent products or services that consumers will use and need more of.

Number three is the pay plan--how even and fair and generous overall is the distribution? This is really crucial as the pay plan represents exactly how you'll get paid--or not get paid.

There are really only two questions to ask [regarding this]: How many pennies out of each sales dollar get paid back to the distributors each month, and how fair is the distribution of these pennies between the old members and the new members?

Number four is the integrity of the company and the management. As much as possible, [investigate] the experience of the CEO, [their] experience in the network marketing industry, and their background. [Have] they been successful in other companies in the industry? Do they have a good reputation?

Number five is momentum and timing. Look at where the company's at, what's going on with the company, and if it's growing.

Number six is support, training and business systems. You may have [chosen] a great company with excellent management, products that make a difference, a pay plan that's uniquely fair and very generous, and momentum and stability, but if you don't have a system in place that works, all of that [doesn't matter].

Most companies will have a transferable training system that they use, and that's where mentorship comes in.

Practice what they teach. [To succeed,] you need to be willing to listen and learn from mentors. The way this industry is structured, it's in the best interests of the [MLM veterans in your company] to help you succeed, so they're willing to teach you the system. Whatever [your mentor] did to become successful, it's very duplicatible, but you have to be willing to listen and be taught and follow those systems.

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The higher-ups. It can be called various things, but the general term is the "upline," meaning the people above you.
How supportive are they? Do they call you? Do they help you put a plan in place? Are they as committed to your success as they are to their own? You should be able to relate to [the people in your upline] and be able to call them at any time to say "I need some help."
How much support there is from the people above you in the company is very important.
Take up the lead with your downline. There's a term in the network marketing industry called "orphans"--when somebody is brought in and then the person who brought them in is just so busy bringing in other people that they don't spend the time to teach and train [the new person].
You should be prepared to spend at least 30 days helping a new person come into the industry--training them, supporting them and holding their hand until they feel confident to be able to go off on their own. 

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You really need to ask yourself, are you willing to do that? Are you able to do that? This is really about long-term relationship building. It's not about just bringing people into the business and just moving forward. It's about working with these people and helping them to develop relationships.

On the net. People are utilizing [the internet] as their main marketing tool. [You can set up your site] with autoresponders so when you capture leads, the autoresponder can follow up with that person. One of the greatest keys to success in this industry is follow-up. Many people will have someone call them who's interested or they'll call the person and say they're interested, but then they don't follow up with it. Automation on the internet has allowed a much more consistent method of following up.

The only drawback with the internet is people who utilize it to spam. If there was one thing I could put forward to say, "Do not do" when utilizing the internet as a marketing tool, it's spamming because that can give a very bad reputation not only to you but also to the company you're working with.

Taking care of business. This is a business, and just like if you were running a franchise or a storefront, you [should have an] accountant. You have all the same write-offs tax-wise that you have with running a [full-time] business, so it's very important to [do your research] prior to getting involved, before you start making money from it. How is that going to affect you tax-wise? What are your write-offs?
It's important to set up a [support] team around you. I'd suggest seeking out lawyers who deal in network marketing, so they're very versed in all the laws and how that affects [your business.]. There are also accountants who specialize in dealing with homebased businesses specifically in the direct-selling industry.

Don't quit your day job...yet. Never leave your full-time position unless you're absolutely certain that the income that's coming in with this company is going to be there. [Be sure that] you've been with the company [for awhile] and that you know it's a stable company, and the income that you're earning is equal to or greater than the income you're earning from your job before quitting.

UnderstandingWhat is Network Marketing

Understanding What is Network Marketing Can mean the difference between failure and success

The term network marketing, also known as multi-level marketing or MLM, refers to a marketing strategy used by some companies to sell their products or services.

Essentially an existing product user signs up as a distributor. He/she then recruits other product users who also become sellers of company products to others. These recruits also recruit other product users to do the same.

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Each distributor earns a commission in his/her own right, much like the traditional sales agent. But the difference comes in when the distributor recruits other distributors into the business. This is where the network part comes into play.

Each distributor earns commission from personal sales plus from the sales made by distributors in his/her downline.

Let me illustrate the point.
Say you decide to start a home based business and multi-level marketing is your preferred vehicle.
You recruit Bob and Claire, Bob recruits Dennis, Emma and Fiona, and Claire recruits George and Hilton.

Bob and Claire are known as your first level, or frontline. Their recruits become your second level. These are Dennis, Emma, Fiona recruited by Bob and George and Hilton who were recruited by Hilton. Your second level will in turn recruit your third level.

There is no limit as to how deep your levels can go. For this reason, some companies limit the levels up to which you can receive compensation. For many companies, you can go as wide as you want. Depending on your company’s compensation plan, you can recruit as many first level members as you want.

Note that no matter when you start in MLM, you are always the start of a new business unit, your own. You become an independent business owner. There is no such thing as ‘get in on the ground floor’.

A large part of your money in network marketing comes from deeper levels in your organisation. Your success, as it were, will then depend to a large extend on how well you are prepared to help other people get what they want.

History

Network marketing dates back to the 1940’s.
One company in USA realised that it could increase its revenue by paying its existing network of product users to introduce other product users to its products. Since then it has developed into a multi billion dollar industry.

For the first time, individuals who would otherwise not be able to start a business were able to do so because an MLM business requires a small amount of initial capital.
What makes multi-level marketing an attractive alternative?

Low initial capital and high potential returns
You can start a million dollar business for less than $100. As your network expands, so does your income.

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You can start it as a part-time business
There is no need to quit your current job. If your business does not succeed you have the security of your current job.

You can build a residual income that has the potential to surpass your current earnings many fold.
It does not really matter what your current income is, you always have the potential to earn more than your current income level.

1. Financial freedom
Whatever your reasons are for getting into this business, the ultimate goal is the possibility of being financially free. Imagine not having to go to work again, not having to pay off any debt, and doing exactly what you want with your time.

Can be operated from home – perfect for mothers
No need to rent space or buy office buildings. Because you work as and when you want, you can schedule your activities around your family.
You own a business that needs no employees
No need to comply with any form of labour law.
In one sentence, network marketing offers you all the benefits of a traditional business without the headaches.
See also the five powerful reasons why network marketing is such a great business opportunity.

Cons
Association with illegal pyramid schemes
Illegal pyramid schemes have tried to mimic MLM, as a result many people still can’t tell the difference between the two. As a result next time you talk to someone about network marketing chances are that you will be asked something like this, "Is it not a pyramid scheme?"
Lack of adequate training
Most companies promise training, but this may mean you have to buy a lot of so-called training materials from the company.

Overheads
While overheads in multi-level marketing are minimal compared to traditional business, unless you see results quickly enough, this can be a cause of much discontent.
So back to the main question, "What is network marketing?".

It is simply a business opportunity for you, the individual, but a marketing strategy for companies. Understand this and you will be on your way to making money in this industry.

Note, however, that building a network marketing business is not as simple as some people may want you to believe. As you continue with your research some people may tell that you can build your business using only word of mouth. But the truth about network marketing is that you need to hone your marketing and selling skills if you want to succeed.

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