The power is in the network. If you want to be rich the best strategy is to build a strong, viable, growing network. It is the power of network that makes network marketing so powerful to be called as the business of the 21st Century. The rich people build networks whereas commoner looks for job. The power is not in the product; the power is in the network. This is what makes network marketing so brilliant. The good network marketing companies offer millions of people just like you and me the opportunity to build their own network rather than spend their lives working for someone else’s network.
Network marketing or affiliate marking shouldn’t be confused with pyramid schemes. It is literally marketing products through a network of people. This form of distribution is word of mouth or recommendation. As a network marketer, you not only build the net work, but you actually own your own network and that gives you tremendous financial leverage. In simple words, as a networker you are able to harness the power of big businesses, leveraging your time and efforts. It doesn’t happen simply by affiliating with network marketing company. To harness the power of leveraging you have to grow the network by duplicating yourself and make a team of people working for you when they themselves work to achieve their lives goals.
It’s an intellectual form of distribution as unlike retailing the distributors are often very knowledgeable on the products they sell. The affiliates themselves use the products and are paid for making recommendation of the products they are enthusiastic about. Network Marketing is one of the fastest-growing business models in the world in the present day and still people fail to recognize it the way it should be. The products are very important for network marketing but the real force behind network marketing is the network through which the products are distributed. Nowadays quite a number products and services are sold through network marketing or affiliate marketing successfully. The products like home care products, wellness products, the telecom products, IT products, internet tools and software, books, e-books, financial products, or legal products, clothes and apparels, travel packages, and there no field it has not touched yet.
Network Marketing is virtual business. Network Marketing businesses are genuine Information-Age Businesses. As a Network Marketer you primary task is to build a network of people by communicating, telling great stories and helping others to build their network business.
Large businesses can be built by sponsoring people and teaching them to sponsor. It is also often referred as MLM which means multi level marketing and refers to the different levels of compensation provided by the company. In networking everybody works together to achieve success by making their own network of people.
By the 1990′s more than 100 billion dollars worth of products were being distributed through Multi Level Marketing and Network Marketing, and that figure is growing rapidly today.
The success of an affiliate marketing or network marketing business is based upon the distribution of products. This can be through purchases for you or retailing to customers, or sponsoring others to purchase products from network marketing companies.
By teaching your distributors to sponsor others, you can help them build a business for themselves by teaching them to teach others to do the same. High quality, consumable products with a good compensation plan will provide a sound basis for a successful Network Marketing Business or Affiliate Marketing Business.
Why is Network Marketing becoming so popular?
If you need to create a solid financial future, you need to create it by yourself. You can take charge of your future, only when you take control of your income source. You need your own business.
Gone are the days when people got a job, and probably stayed in that company for life working their way up to the top positions of the company.
Nowadays people feel more insecure in their jobs and worry about being made redundant. With inflation and the rising cost of living, pensions don’t go very far to secure anyone’s life as expected in a welfare state.
Network marketing provides an opportunity to create a residual income for life. It can be fitted in around a full time job, and requires no qualifications. There’s no discrimination against age or sex, and there is the potential for financial freedom.
One of the beauties of Network Marketing Business is that all the groundwork of the business is already done for you. You would also have experienced leaders committed to success to guide you.
Usually there is a minimal start up fee, and with no need to stock up on goods. This makes it a no-risk investment. You become an affiliate of the company when purchase the basic package product of the company and you are allowed to market the products or services of the company to earn direct commissions and leverage commissions from you teams work.
The only real investment is your time and perseverance to make it work. You only have to find some people who want to earn money from home and teach them do exactly what you and your leaders are doing to get money from networking.
Affiliate Marketing or Network Marketing has enormous potential especially now as with the advent of internet you are no longer geographically limited. More and more people are choosing to purchase online.
Products are usually of a high quality as not much money is spent on advertising or packaging and intermediate agencies as in conventional market. Instead money is put into the products themselves and the end consumers, that is, the affiliates who earnestly promote the products they use. Then they are paid for that recommendation.
Secrets to Finding Success in Network Marketing:
Although you work on your own you don’t work alone. You always have your sponsor and up line leaders to call on if you need help.
Before you start any business you must have a plan. Sit down and work out a plan of action on paper. Get your sponsor to help you do this.
Set yourself long term goals. How do you see yourself in 5 years time? Where would you like to live? What car would you like to drive?
Break up these goals up into short term achievable ones. Organize your tasks for each day and stick to them. This way you won’t get despondent and you can see a progress in your business, no matter how small.
Towards Financial Wellbeing
Follow some basic principles to achieve financial success.
- Setting Financial Goals
Everybody has different personal preferences and goals. These goals or dreams are based on his/her current status income, risk taking capacity, financial profile and investment. The process of planning out one’s financial future is simple procedure, yet a very few people make it black and white. Those who consciously plan out their goals are usually more empowered, create more suitable portfolios and move towards achieving their goals.
- Setting Long term Strategy.
Meeting long-term goals involves implementing a long term strategy. Those who want to make quick return are bound to fall prey to get rich quick scams and scam setters. Eventually they lose their money and they push other into these scams.
- Diversification Strategy
- Adequately understanding risk factors.
- Net Return for Your Investment and not pre-tax gross amount.
- Adequate Product Knowledge.
- Personal Review of your Business, Business Strategy, Advertising expenditure etc.
See what options are available to you through your introducer or sponsor to work online this is by far the fastest way to connect with a larger group of people?
Network marketing really is a numbers game, the more people you talk to the more chance you have of finding prospects and ultimately big business builders. If you don’t do anything then you won’t get anything and your business won’t grow.
Even if you only sponsor one person a month or a number you like that’s up to you, into your business, by teaching them to sponsor and purchase the products wholesale you could build up a highly profitable business with huge potential.
You don’t need to panic at the thought of hundreds of people working in your down line and keeping in touch with them all!
If you have a simple duplicable system that’s teachable to others you can just concentrate on the last new people you have sponsored. In the long run it will help your business to grow faster as people won’t be put off by complicated marketing techniques.
Network Marketing tips to succeed.
- Hand out business cards to people you meet. Print a business card stating your name phone numbers, your address, website/ blog, email address and other necessary details and hand them out to people who may be interested.
- Put flyers up on supermarket customer notice boards and leave some in restaurants and cafes.
- Listen to motivational tapes, Inner Circle Audios from Empower Network and weekly radio talk, read books.
- Purchase the company’s products and use them for yourself so you understand the benefits they offer and start recommend these products to your prospects. It’s always better and ethical to know firsthand about the products before referring them to others.
- This is an age of internet and if you really want to go global and want to make big business online first and foremost requirement is having your own websites or blogs with independent domain names. You should have a reliable and trustworthy hosting service. If your hosting service is a cloud computing service you will be having advantage of simplicity because it will allow you to connect with software service providers which are necessary to promote and manage your business with ease and simplicity.
- Next step is bringing traffic to your websites or blogs. Making website or blog is just making your shop in wilderness. You have to attract customers to your website, that is in technical terms bringing traffic to your website. How do you do that? There are many paid ways doing so and of course there some free ways of getting traffic to your site. Among them is writing articles or blogging. Since this topic itself is a vast and important one we shall go into details in future and there many articles and pages explaining about this topic in this very website. Please refer those articles and pages.
- Make use of your company’s marketing tools. Audio tapes, marketing leaflets webinars and live trainings, e-books, email campaigns, auto responders, auto prospecting system, radio talks, videos etc are of great help to promote your business. If you are not comfortable in using these internet tools you can easily learn and start using them to your advantage.
- Don’t try and get people to build a business if they are just interested in buying the products and using them. Sometimes you may find that people are just happy to purchase from you and these become your retail customers.
- Perseverance is needed as well as belief in yourself and the products. It’s very easy to quit at something just before it starts to work. Don’t ever give up!!
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