A lot of people fail at network marketing because of misconceptions on how it works. It's not a get rich quick scheme, and it's not about hounding friends and family to buy products – that's a surefire why to get them to avoid you at all costs. Network marketing allows you to be an independent business person with a part-time or full-time home-based business. There is no overhead, little capital to start and you're allowed all the write-offs of a traditional business. Although it's an alternative way to make money from home, it's still a real business and should be treated as such. If executed properly, you can create a sizable residual income and a better way of life for your family. Here are my eight network marketing success tips:
Be Choosy
Ideally, you want to be able to offer a one-of-a-kind product that can't be duplicated or sold by other companies. It should be a product you're jazzed about and are likely to use regularly. If you're not passionate about the product, selling it will be tough.
Look carefully at the compensation plan and compare it with others. Make sure it's fair, makes sense and gives you a chance to create a lucrative business. But be wary of compensation plans that sound too good to be true.
You want to choose a company that's been around for awhile, has a good reputation and is growing at a steady rate. They should also have integrity and offer ample training and support.
Pick The Right Mentor
You want to have a sponsor or mentor, also referred to as your upline, that is experienced and has had proven success. Having a strong upline is the key to your success. They must be willing to spend time mentoring you and be on stand-by to answer any questions you may have.
In exchange, you need to be receptive to their advice and willing to learn. In addition to utilizing your upline, you should be sure to regularly attend company meetings and training calls.
Use Your Network Strategically, Then Expand It
Although your friends and family are a good place to start, putting pressure on them to buy your products isn't going to get you anywhere. You have to come from a place of being of service and be strategic in your approach. Figure out who amongst the people you know could most benefit from your product or business opportunity and then tell them how what you offer can solve their problems. Be genuine, not salesy. If they're not interested or not ready, tell them you're always available if they decide they want to learn more and move on.
Educating friends and family about what you offer and then asking them if they know anyone you could help is often a better way to go. Your loved ones will be more likely to give you referrals and return your calls this way.
And the thing is, although it's a good starting point, if you confine your business strategy to soliciting to friends and family, building your business will be slow going. You have to constantly work at expanding your network.
Treat It Like A Business
You should create a business plan, just like you would with any business. Determine things like how you'll market your business and what your goals are. Utilize proven marketing strategies such as social media and online marketing, cold calling and business networking.
Be a Leader
The people who are the most successful at network marketing like working with people and helping them. Many people have a misconception that the focus is on selling products. Although it is a key component, the real money is made by recruiting people, or building a downline. The better your downline does, the more money you make. As you create a downline, you want to make sure that you're doing everything possible to assist and develop your team, setting them up for success.
Know Your Products
You should be an expert on your products, always working to expand your knowledge. Read all current educational materials on your products and stay on top of all new educational materials put out by your company.
Define Your Why
It's hard to get motivated when you're not clear on what it is that's driving you to succeed. Are you looking for a better lifestyle, the ability to travel more or spend more time with your kids? Or do you just want to create an extra stream of income for more financial security? Spend time thinking about why you're doing what you're doing, write it out and look at it often.
Don't Think You're Going To Get Rich Quick
You may make money quicker than you would with a traditional business, but it will not happen overnight. Like a traditional business, network marketing takes time and commitment. If you do it right, it should take about a year to generate a decent income.
Any network marketing success tips to add? Any pressing questions about what it takes to succeed with network marketing? I'd love to hear from you.
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