What is network marketing?
Network marketing, which is also called Multi level marketing, (in short MLM) is a way of distributing and selling products and services through a chain of independent distributors rather than through traditional retail outlets.
This is a system of direct selling and relies on your network of independent distributors, to reach customers by word-of-mouth. It provides an alternative to conventional arrangements that involve wholesalers and retailers. Besides eliminating costs associated with middlemen, network marketing reduces advertising and promotion expenses. In this manner it passes the savings to the independent distributors and customers.
Why would you choose network marketing as a business?
At this particular time when traditional business offers so little security, network distribution is really great for free enterprise. It’s a system in which common people can invest a small amount and with sheer determination and tenancy rise to staggering levels of financial rewards and personal freedom
It is also a way by which you could build your confidence, widen your circle of friends and feel more productive. Network marketing is indeed the greatest opportunity !!!!
But I won’t keep you in the dark. In network marketing you persevere or you perish. From personal experience and from statistics available on network marketing companies over 80% of all new members quit in the 1st year which is in the most important of the learning curve.
Now I’m talking of 1 just year and no more. Imagine any person ready to invest in 1 year or 2 in studying the network marketing business. He would surely be earning more that a surgeon after his putting more than 7 years of medical studies and practice. And believe me its true.
There have been various analysis which shows that an estimated 95% of those who survive 10 years in network marketing become wealthy beyond their wildest dreams and expectations.
How Does Network Marketing Work?
Today there are millions of people around the world building this unseen industry called network marketing. The DSA reports that there are over 20 million people in the world involved in direct selling.
You may not see them but they are everywhere, some probably right in your own neighborhood. It is a business in which common people can invest a small sum of money and rise to staggering levels of financial reward and personal freedom.
In Network Marketing we help and assist others in building their business. Hence the name Network. We get paid for this because we are assisting, coaching and helping them to establish their business. Helping them to reach their goals for their financial future. So It’s only right that we also get paid for our time?
In Network Marketing, we have our initial start up costs anywhere from just a few hundred Rupees.
But one of the important things to remember is, you are in a real business, and you no longer have a boss holding you accountable. Your network marketing success or failure is dependent upon you and your actions alone.
Your primary task will be to gathering customers for your products or services. To help and assist others get started in their own business partnered with you. Just remember, you are looking at a business model that will take 3 to 5 years to produce the kind of results you’re looking for.
So don’t give up your day job just yet. It will require 5 to 20 hours of consistent time and effort each week to build a successful Network Marketing Business. It will require a marketing budget, most people do not even consider this. This is a real business this is your business, not a get rich quick overnight program, although it has been hyped by a great many naive marketers and web sites. Network marketing is based on word of mouth advertising which is the most effective form of advertising. Think about it as when you go out to watch a great movie, you will go around and tell people about it – that is by word of mouth advertising. One of the most often asked questions is, will I have to sell products and services? The answer is of course yes. But its not like having a salesman or woman come to the door and sell them products. So how are we as a network marketers different? We recommend products or services that we like and personally use. If we know it’s good and personally use it, recommending it to our friends and family is very easy.
When Do I Get Started In Network Marketing?
Whatever you are doing at the moment, be it a job, house wife, student or in any other profession, you have to first ponder what has prompted you to start your home based business and that too in network marketing. You have to be absolutely sure that you are making a right choice and not going to waiver out of it at the first pretext.You need to be convinced that you need this business opportunity – either short term or long term, part time or full time. There is no purpose in starting some business and giving up because you will only give a bad name to this opportunity which others would like to pursue. So having made up your mind that you DO want to take the business opportunity, you would now have to study the business opportunity and the market available.
OK. So you like what you see in Network Marketing so how do you get started?
First: We must become educated about this business.
Second: You must treat it as a business and you must approach it professionally
Third: You have to choose an ideal company keeping in mind that the company possesses at least all these points:
- It should have been in business for at least 2 years with a good foundation in network marketing experience having a good no of distributors. This is very important because most companies go bankrupt in the first 2 years
- The company should have consumable products reasonably priced in a mid-range with some products being unique
- The company should have a low investment and generous return policy
- The company should be a global entity or plans of going global
- The company should be a member of the Direct Selling Association (DSA)
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