Why Network marketing? There are lots of points of view around this industry and many people give it a hard time, however as a strategy for building wealth, it is one of the most rewarding, and can also be the fastest to grow.
Simply speaking, network marketing is actually word-of-mouth marketing or direct selling. This is a legitimate business structure used to sell products and/or services via independent distributors. These distributors have their own franchise with the company, and promote and sell the products on the company’s behalf. The company, in return, provides marketing tools, invests time and money setting up systems and guidance to help you succeed.
This type of business is ideal to start while you are currently working 9 to 5 as initially you may not be making the big bucks. If you persist and continue to grow your business you will be able to ‘retire’ from your 9 to 5 job and create the lifestyle you choose. Persistence will pay off and consistent effort and connection to people will enable you to grow your business, and create more income from your business than from your regular 9 to 5 job.
For those people who have never been in business this is a great place to start. There are network marketing companies in whatever area you have a passion for, be it skin care, health products, travel opportunities, cooking or e-commerce. Everyone can find a company to provide them with products and or services to sell and marketing and systems to do so. These companies commit funds to research and development so that the products available to distributors that are on the cutting edge. They also have advertising materials and marketing campaigns already in place for you to use. The people who introduced you to the opportunity have a vested interest in your success and so you have a mentor on tap.
What are your interests?
The first thing to decide is what your interests are, and what is fun for you. There is no point marketing health products if your favourite beverage is an alcoholic one, and your idea of exercise is watching sports on TV. The thing you find easy and fun and think no-one would pay money to do or have, is a great place to start. Your enthusiasm for your product and what you are doing makes it all that much easier to promote and create a successful network marketing business. Most of all it should be fun for you to talk about the product or service you are promoting.
What do you already recommend or advise to others?
People who believe this is a hard road, often don’t realise that they already are already marketing commodities to other people by recommending products and services to their friends. “I have found a fabulous hairdresser” or “You should try this restaurant – the food was divine”. All these referrals do not actually net you any direct reward, and yet we all do this on a regular basis. With your own network marketing business these referrals add up to new business and lead to a steady income stream. Everytime you engage with a person, you have a prospective client, however be aware that if you appear to be pushing your product, people will back away. I always ask a question, and I usually say, “I may have something that could help you, would you be interested to find out more?” That then gives the person an opportunity to ask questions. Be interested, and listen.
Take the time to learn about the product you choose to promote.
No matter your area of interest and expertise, take the time to learn about the product you are choosing the promote. Remember that to most people you are the ‘expert,’ as you know more about the product than they do. Educate yourself on the products and ensure them that you use them, and ‘walk the talk.’ Provided you educate them about the benefits to them, both short and long term, then the promotion of your product is straightforward, and you can build a lifetime of loyal customers and/or promoters.
The ideal product to be promoting is one which will be purchased on a regular basis preferably repeating monthly – the smaller repeat purchases add up and create not only loyal customers but also referrals for your business as well as a long term income streams. It may seem easier to promote big ticket items, that bring in large commissions, however over the long term a small regular purchase will net you more.
Be willing to develop your skills.
The additional benefit of becoming part of a network marketing organisation is the personal development that is offered. In order to succeed, you will need to upskill, whether it is product knowledge, business skills, or people skills. Network marketing companies have training available to ensure those that choose, can succeed. In order to upskill you actually need to put in the time and effort required to learn whatever it is that you require to create an outstanding business in your chosen area. This will spill over into all areas of your life and may even include your 9 to 5 job.
Everyone needs to have a side hustle, and network marketing provides a streamlined approach to creating a new business. The systems to succeed are already in place and on-the-job training is also provided. The key to success in network marketing is to ensure that your team succeeds, that way you will also succeed.
