Mention network marketing and most people instantly have the mental image of ladies selling tupperware, doing make-up parties, and eating little appetizers. Or you may get the image of a polished high-pressure sales pitch happening in a living room or hotel. Most folks imagine serious network marketing people as that guy telling you how easy it is to get rich by having your friends and family buy vitamins.
Here is the reality, though. The reality of network marketing is that it is neither a hobby, a get-rich-quick scheme, or lottery ticket to billions of dollars. Network marketing is an opportunity for you to earn more income running your own part-time or full-time business.
The big question for many people is, “What does it take to actually succeed in network marketing?”. I would like to offer you these tips for making it in this incredible industry:
- Stability. The most risky time to join any network marketing company is in the early stages. Like any business, network marketing companies often fail within the first few years. That doesn’t mean a new company won’t be successful. Every company starts with their first day. If you can handle the risk comfortably, then a start-up company may be a good choice for you. Others feel that a company that has been around a few years is a better choice.
- Products and Services. Make sure the company offers products and/or services that people will actually use and will purchase over and over again.
- Compensation. How fair is the pay plan? You want at least a basic understanding of the plan so that you can understand how you will be paid. Network Marketing is an industry where you often have to put in a considerable amount of work before you begin to see significant income. It is important that you are able to determine what sort of productivity you must generate to achieve a particular level of income.
- Integrity. This one can be tricky but you should be able to do a little research to find out who the company owners are and what sort of experience they have had (if any) in the network marketing industry. An exciting product, service, or pay plan will be worthless if the integrity of the company founders is below par. Check out their track record and reputation as best you can.
- Momentum and Timing. A lot of network marketing companies like to talk about momentum and timing. The big question for you to ask is, “Is the company growing?” Also find out if the product is in demand or at least well received in the market place.
- Support and Systems. A good network marketing company will have systems in place that make it easy for you to get good training and mentorship. Ask your company or presenter about the systems they have in place.
- Take Care of Business. network marketing is a business. Like any business, you need to make sure you have a good CPA in place to hall you with tax strategies as your in come grows. Whether you operate your business part-time or full time, treat it like a business. Dedicate your business time to productive activities including prospecting, follow-up, personal development, etc…
- Bonus Tip: Get To Work! Be prepared to put some work in to your business. You are going to need to learn how to talk to people. You are going to need to talk to a LOT of people if you want to create significant income in your business. Spend time learning HOW to build your business and then spend time BUILDING your business!
People often ask me if they should focus on building their network marketing team online or offline. My answer is always “Both!” I often hold presentations in my home AND use online strategies and tools such as AutoResponders, Online Advertising, Capture pages, etc… to generate online leads. My philosophy is that if someone is interested, I can share the information with them no matter where they are so why wouldn’t I do it?
If you truly want to build a successful network marketing business, do your research and then be prepared to do your work once you’ve chosen a company and team to work with.
About The Author: Brian Rooney escaped the rat race in the year 2000 by starting his own home based business. Since that time, Mr. Rooney has provided tools and training for thousands of network marketing professionals via his internet marketing services. If you are looking for a home based business for yourself, be sure to view the listings at TheOnlineAdNetwork.com.
If you are already involved with network marketing and are looking for a great way to get your offer in front of interested prospects, attend one of Mr. Rooney’s online presentations: