Why Network Marketing Might Actually Work
Chances are you found this page looking for information about why Network Marketing might be a good fit for you. You’re not alone. Right now, many people are considering getting involved with network marketing. This article is designed to help you ask the right questions before you make a decision.
Asking the right questions can help you make a good decision about why network marketing may or may not be a good fit for you. Let’s cover what I believe are some of the most important questions you can ask:
Why Network Marketing? At least part of your answer, if you are being completely honest, will be the money. You want to make money. This is not a bad thing. Chances are, you took the job you have because you want to make money. Or, you’ve been looking for a job because you want to make money. But there really does need to be a bigger reason. What does the money make available for you? More time for family? More time for other involvements and interests? More travel?
Are you wanting to build an additional income stream or create a full-time business with your network marketing venture?
How Much Time Can You Devote To Your New Business? Make no mistake about it. Network marketing is a business. The reason why network marketing professionals are able to build a successful and sustainable business is that they don’t treat it like a hobby. Whether they are building full time or part time, they focus and dedicate those hours to activities that actually produce income.
The big difference between successful network marketers and those people who “tried one of those deals” is understanding the difference between “part-time” and “spare-time”. They are not the same thing. If you are able to dedicate 5 hours per week to your new business, make sure you COMMIT those 5 hours each week.
What Am I Actually Selling? This is a big one. Remember: You have to take a business approach. Getting excited about a compensation plan is understandable but you also need to know the market. In other words: Will people actually buy what you are selling? Network marketing is about moving product or service through your network. If people won’t buy what you’re selling, you are not going to make any money. One of the reasons why network marketing gets a bad reputation is that too many people don’t actually understand what they are selling. They are focused on “recruiting”. Signing up 1,000 “distributors” that don’t actually move product just makes you a very popular broke distributor.
Look at the product or service being offered. Is it something people will buy with or without any sort of compensation plan? If it is, then you may have a good opportunity in front of you.
Who Am I Working With? This is a big one. Once you’ve decided that you are interested in network marketing, you are ready to commit some of your valuable time, and you believe there is a good market, you need to consider who you are going to be working with. Believe it or not, you do not need to be directly connected to a big name seasoned professional. In fact, chances are, that big name professional may not have a lot of time for you. Look to work with someone who can help you get the right information, work with you (not for you) as you begin building your business. This new sponsor may be new to the business themselves. If they know how to get the right information to you and they are available to answer questions along the way, they may be a good fit.
Other things to consider is: Do you know this person to be a hard worker? Do they make excuses, or do they get things done. There is no such thing as the “perfect sponsor“. What you want is someone who is actively building their own business and willing to show you how to build your business. Leaders work WITH good team members and help develop more leaders. If you really want to make money in network marketing, work with someone who can help you become a real leader for your team.
How Am I Getting Paid? Notice that I put this one last. If you joined your company because of the comp plan, you may have set yourself up to fail. No compensation plan is strong enough to pull you in to success if you don’t have a good product or service, a strong team, and a good system.
From there, get an overall view of how the money is made. Understand the goals you will need to reach in order to qualify for commissions and bonuses. Sit down with your sponsor and tell them “Show Me The Money”. It may be a video or a live presentation but you definitely want to understand how you actually get paid so you can set your goals accordingly.
In my own experience as I asked, “Why Network Marketing”, I chose network marketing because I knew it would allow me to be connected with my family. Of course, I wanted to make money. But my big motivator (my big “why”) was the ability to be a husband and father that was actually connected to his family.
When I got started, I had a number of part-time jobs and would spend my evenings and weekends working on my new business. I was committed to achieving success and I worked some pretty insane hours. Often, I would go 2-3 days without sleep. It was important enough to me to put in those kinds of hours to win my freedom. As my business began growing, I started firing bosses. It felt good!
I had identified products and services that people were already buying. I knew there was a market and all I would really be doing is showing people a way to purchase and use what I honestly believed was a better deal for them.
I worked with people who were committed to their own success. They knew that helping me would help them and they made sure I had access to the right information and support. It was up to me to follow through and actually do the work.
I understood the compensation plan well enough to know what sort of volume I needed to have in order to reach certain benchmarks. I built a nice income, qualified for a car bonus, and was involved with my family on a daily basis. For me, “Why Network Marketing” is a simple question to answer. It works for me because I work it.
What other questions can I help you with, today?