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How to make money in network marketing

By Walson

Multi level marketing has been and is still one of the few business models that have made more millionaires than every other business model in America and other countries that have welcomed it. Also known as network marketing, this business method allows one person to earn from the collective work of many people who get to join the business in question through them.

It all started on the idea that it is easier to earn more money by relying on the little profit from the work of the many, than on your work alone. The best network marketing companies give you the opportunity to share in a major part of their profits should you be ready to join in the marketing process productively.

The first thing you need to know about network marketing success is that it is very achievable. It simply takes a good level of determination to succeed, and the rest is history. All the skills required can be learned and practiced by anyone, even you. So let's get right on.

The idea of multi level marketing is simple. The company is willing to share their profits with whoever can help them increase their sales. So you get to work according to how much you want to earn, and the work you do directly affects how much you earn.

How to choose a network marketing company.

Investigate Network marketing Companies thoroughly

It turns out that multi level marketing companies have a very high percentage of scams that parade themselves as genuine. Applying due diligence is one of the best network marketing practices which you cannot delegate to some other person or depend on hear-say information. There are certain things that you can use as indicators and potential signs which indicate to you if a network marketing business is genuine or just another scam.

  • Investigate the company’s duration in business. This should give you a fairly good idea of whether its a young company or a well established company that has stood the test of time. Most network marketing companies actually collapse by the end of  their first or second year of operation. To see a company which has been around for a while is a good indicator. But you cannot base your choice on that alone;

  • Investigate the company’s sales. Check out the trends about them. Is it gaining strength or are you joining a downhill trip? You need to be sure that you are not putting your money into a bad investment. It is always good though to try to understand the causes of the sales pattern. It could as well be because of inefficiency on the part of the members of the company.  

  • Check out the general societal feel of the company, making sure that you are not joining a defamed organization. The most important thing about a network marketing company when it comes to getting recruits is its reputation. So take special care when checking for this. As usual, everything genuine always has those who go about trying to defame it. So you will need to be careful how you receive all the material you’re going to encounter, and ultimately, you will have to do what your guts tell you.

  • Find out details of the people behind the companies. These people are those you are ultimately trusting with your earnings and savings. You better be sure of who is going to be in charge of managing your finances and paying out your earnings. Be sure that they have a good reputation and have had a good deal of experience and a success track record. Do not go along with founders and executive officers tainted with a bad reputation. History has a way of repeating itself.

  • Check out the marketed products; be sure that the products are

    • Genuine, of course the products should be capable of doing what they are said to do. Selling products that are fake may not only endanger the company but yourself as you would be liable to suits. Check also that the products are not harmful to those who consume them.

    • If you are to sell a product, then at least you should also be able to consume them, or be sure that they are fit for consumption. This is one of the things that assures network marketing success in the long run, because the people whom you sell, when they are satisfied, will themselves look for you in order to get your products.

    • Are the products being offered authenticated by reliable authorities? This is a principal thing to check as that is what proves that they are authentic in their claims and that they do not pose as a danger to all those that use it in the prescribed manner. The best network marketing practice is for the company to have all of their products authenticated by the appropriate authority.

    • Finally, you need to find out if their products are sold at a fair price. Many companies have had their people buy products which they ended up not being able to sell because of their unreasonably high prices, which makes no sense, when the aim of the company ought to be to sell as many of their products as possible, which is the ultimate idea behind multi level marketing.

Identify the business that suits you

It is important to identify the best network marketing company that suits your circle of association. It is this group of people with whom you interact on a daily basis that you are going to get your recruits from. So they should be on your mind when you plan on taking that leap. In most top network marketing companies, your success depends on how many people you can recruit for the company. You should count the costs to be sure that the money and time commitments required of you and all those who will be included in your business team will not be beyond your present grasp.

So the things to consider in this case would be

  • Time factor: some multi level marketing companies require almost all of your time everyday to be productive and successful, as the work entails becoming a marketing agent, going from door to door, or moving about trying to get as many recruits as possible.

  • Renewal purchases and activation purchases: some top network marketing companies also implement a system which works by keeping only active recruits on their payroll, meaning that you have to keep on purchasing their products monthly or weekly depending on their arrangement, given that your team is also working and expanding as well, to reap the rewards of their labor.

  • The referral program: Most multi level marketing companies set as a target a certain number of recruits which you must personally bring into the company, as well as who must be doing same, to permit you ascend the levels of their reward system. You should take such into consideration before deciding to invest in the business. You should be ready to do the required work within the set deadlines to harness to the maximum, the earning capability of the business.

  • Business Requirements: Most top network marketing companies have a highly integrated online system, which requires all those in the company to be very versatile with the Internet, and to be constantly online. Now if you are in a first-world country, that’s the norm, but in other parts of the world, many people are not at all familiar with the use of computers, let alone the use of the internet. If you find yourself in these parts, you’ll first of all have to convince people of the trustworthiness of internet based transations, as well as take upon yourself the responsibility of training them and in most cases, assisting them with all their internet transactions.

  • The reward system should be favorable: Out there, you will always see similarities in the network marketing companies which have many things in common. The differentiating factor most times is the reward system which when compared, you will find that you may actually prefer one to the other. Most top network marketing companies will allow their customers to request for their reward bonuses in cash. When you get to that level, you may need the money more than you need a new car, or new house. So it is preferable that you know what your preferences would be before you begin.

     

Identifying the perfect business is not an easy task. You will have to be very inquisitive and skeptical. Refuse to be carried away by the promises and possibilities, but find out exactly what you have to do if you get on board; after all, you will be paid according to your output and not the possibilities alone. You may use the above stipulated points as a guide to help you ask the necessary and important questions. When you have identified the best business network marketing for you to do, you can now take the next step to network marketing success.

Learn Everything you can about the business.

One of the things you will come to find out about network marketing, is that ignorance usually turns out to be very costly, and so does negligence. There are bonuses which you could miss simply because of strategic decisions which were not properly taken. It rest upon your shoulders to ensure that you have the highest output that your work can afford for you. In the top network marketing companies, you can make so much money simply by making the smart decisions at the right time, to harness all the income streams that they design to ensure that their recruits are working. Most of the top network marketing companies actually design as many as 7 to 10 income streams to keep all their recruits working.

It stands therefore to reason that it is not a bad idea in the least to attend training sessions, bootcamps, seminars and study every training material that comes within your grasp. It is recommended that though time counts, you take off some quality time to carefully study the reward system of your chosen multi level marketing company. This will enable you to be able to plan your strategies of work, to maximise your returns.

There are many benefits of taking good time to learn about the business in which you are investing. There are several other things that you can do with your knowledge of your network marketing company, and about network marketing in general. The appropriate knowledge in these things will empower you to organize paid workshops, trainings and bootcamps which also translate to financial profits. By so doing, you build the capacity of your team members to succeed and also increase your earnings by direct implication. Knowledge is required for success in every field, and most especially, network marketing success requires that you be not only versed with the business, but poised for action on that which you have learnt and known.

There are two major things which you will need to learn and apply in every good network marketing company; they are recruiting new members, and selling products. These two activities directly translate to network marketing success no matter the company in which you belong. Then other technical details like how you arrange their placement in the electronic system of the company also affects your success in other companies.

 

Be quick and meticulous in taking action, once you are on board.

    One of the things which are of extreme relevance when talking about network marketing is time. Time is of the essence in every business deal, because everyone who is accustomed to the way of opportunity knows that opportunity does not wait up for anyone overnight. You need to make sure that as many people as possible, who will join the company, and are in your sphere of interaction, will join through you.

Take concise steps you can focus and follow knowing that it will produce the required effects. Here are a few suggestions;

  • Make up a list of all the those whom you can have access to introduce the company to. You can compile such a list by looking up your contacts in various domains. Your work friends and colleagues, your mailing contact list, your social media contacts, your mobile phone contacts, and every other person you can have access to talk to in any way.

  • Plan on how you will get to each and every person on that list, and make it a point to stick to your schedule. Contact them one by one, in order and schedule meetings with them. If you do not take time out to plan, you will just wallow around, watching as others meet and convince your prospects one after the other. Sometimes it can be to your advantage to plan on discussing the business opportunity with those in the same circles around the same time, so that you get them on your team. Take thought of all such when establishing your plan and scheduling your meetings.

  • Organize workshops and seminars in which you will tactfully present your business opportunity as irresistibly as you can. If you have not yet mastered the in and outs of the company, you may just have to get the help of those who have advanced and who brought you you into the company. Helping you profits them as well, so they will be all the more eager to be of help to you.

     Make it your business to build a positive and grande Company Image

Marketers have through research and experience over a long time found out that people will go for whatever appeals to them, in a positive way. Making every effort not to make the company look below standard or not capable of performing what is promised to its subscribers.

Take time off to review your company carefully, you need to be sure of the company’s mission statement, vision, your business plan, strategic plan and every other company files that will give you a good idea and understanding of the company, understanding the purpose for it’s creation and what makes it unique.

When you have understood these things, you can now be properly equipped with the right knowledge with which to represent your company confidently and effectively. When you go out for sales and to try and recruit new salespeople, the company they see is you. There are a couple of things which you can do to create a positive image on those to whom you are presenting the opportunity. As always, the way you present it matters. Here are a couple of tips;

  • Always act ethically: The way your company image is perceived by the public is going to be determined by your overall corporate behaviour, which should always pull through as morally upright and trustworthy to gain the trust of your customers. You can do this by setting in place methods of operation among your team, which ensures transparency and accountability. Such will boost the confidence of those dealing with you. Another way to promote ethical behavior in your team and possibly your clients is to make sure that practices such as corruption and bribery, and insider trading are not tolerated in any way, creating polices which do not favor such practices that give your company an unethical image.

  • Protect your customers, and guarantee their security and safety: Customers always feel more comfortable dealing with organizations that give them a high sense of security and priority. If you make your customers have it in mind that you are interested in their security and welfare, you will ultimately see an increase in your output as recommendations is one of the most effective waysthrough which every client base is expanded. If you deal online with your customers, getting the very best of security tools, to protect your client’s data and their privacy will ensure strong customer relationships.Always ensure that your products also, qualify to the recent safety standards.

  • Make customer satisfaction your top priority: A satisfied customer is most certainly a returning customer. Hence if you will to retain and increase your client base, you would need to do the things that assure customer satisfaction;

    • Produce top quality products and supply only the best to your customers. People want to know that they are getting exactly what they are paying for, and that their money is not wasted.

    • Keep your products up to date with every possible improvement. Never stop pursuing excellence. It is always the pride of a customer to know that their chosen brand is at the top of every classification of products. Conventional companies such as SAMSUNG invest a great deal in research and innovation. You can always be sure that there are those who will buy such products because the company has made it a goal to be known for the best in everything that relates to quality.

  • Build a Healthy working Environment for all those you work with: It is proven that the happier your employees, co-workers or team-mates are, the more productive they become. So invest in keeping them not only physically healthy by keeping up with all health recommendations, but also make it a point to have a system that is designed to eradicate all forms of harassment and discrimination. Create an atmosphere where people can be free to bring their ideas to the table, and collaborate for the better. You may need to make some sacrifices along the way, but for the greater good, it will prove to be beneficial in the long run.

     Network marketing success is not individual success, but corporate success. It is the success of the entire team that translates to individual success. It is therefore very important to ensure that every individual has the skills that are required to make them successful. This is usually the trend in the best network marketing companies; the responsibility of giving them all of these skills falls directly on their recruiters, who stand to profit the most from their successes. As a network marketing leader, it is your responsibility to train every single person you recruit in every way possible, giving them skills they need in marketing, public speaking, interaction with people, which are the skills they would need to break into the market, and make new recruits of their own. They can easily gain these skills through seminars, workshops and other forms of training that the company organizes to train the people. With all the information you need about network marketing success, both those who make up your team and yourself would be ready to succeed.

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