Building your network marketing business to last is a challenge because the vast majority of every kind of business fails. Same for MLM distributors. The barriers to owning a network marketing business are low, so virtually anyone can start their own business. To be successful, you need to either start with a big network of people who know you, like you and trust you, or you must build that network. It’s important to pick a plan that pays well for real production. It’s a big plus to understand marketing, because you will need to continually build your network. And if you are like most people who don’t start with that strong network in place, you must build it from the get-go.
There is a lot involved to become successful in MLM, just like in any other business. And yet, so many people these days are hyping the “multiple streams of income” approach in MLMs. You can look long and hard and still never find anyone who is successful in 2 network marketing businesses at the same time. Heck, it’s tough to find a person who has actually built full-time income in ONE business. That’s why it’s amazing people think they can build FIVE business at a time, as some of them claim? It’s probably pretty simple: they’re full of it. They’re hoping that if they promote 5 businesses to you, maybe you’ll see one you like and join. Most people who do this just disappear quickly. What works is to pick the best one you can find and build that business. Multiple streams of MLM income is an idea whose time will never come.
A lot of people start in network marketing with the idea that they want to get in position to make a lot of money. They hear stories of people earning 7 figures a month. And it certainly has happened. However, the key is to understand the numbers. Not long ago, a report was compiled of the financial statements of 7 well-known, publicly-traded MLM companies. This report showed that what these companies pay out to the distributor base ranged from a low of 25% of gross income to a high of about 42% of gross income. Think about this. You’ll always have just a portion of profits to the distributor base. Let’s call it 40%. If you have a heavy hitter at that company making $1 million a month, what does that mean? You can certainly conclude that a lot of other reps aren’t getting much return for their work. The truth is, the LESS that heavy hitter is paid, the MORE that the part-timers get paid. And those folks account for 95% of everybody in MLM, and they are the ones who have the dream. People get so excited when someone gets a huge paycheck. However, it may mean you actually have LESS chance to earn a good check.
These ideas and many others are discussed by Michael Dlouhy in the free ebook “Success In 10 Steps.” I compiled a list of MLM keywords recently and discovered something interesting. Reading the search results, 75% (!) of the top 20 MLM-related search terms had to do with “leads!” If ever there was evidence of the #1 focus of network marketers, that was it for me. Obviously it makes sense. To win the network marketing game a steady stream of targeted, interested people to talk to. Now you see why people put such a high value on this ebook over the years. It’s generic, so you can actually use it as part of your own lead generation system. Very workable plan.
By: James B Byrd
Posts Tagged ‘Many People’
Network Marketing Business – Building Your Network Marketing Business to Last
December 30th, 2009Network Marketing Advertising – Successfully Marketing Your MLM Business by Changing Your Approach
December 10th, 2009
Are You Having Trouble Getting Started?
Network marketing advertising may be a struggle for you. You’re not alone. Many people in the network marketing industry have wondered how to go about advertising their products and business opportunity. The internet is there for all to use.
What do we do with it?
A big challenge is the restrictions companies put on their distributors. In most cases distributors can’t even mention their products and company name on websites not approved by the company. And linking from your website to any company website is strictly forbidden.
There are legal reasons that motivate network marketing companies to be so strict. But that doesn’t really help you, does it? So you are doomed to a life of one-on-one prospecting even though the rest of the business world is capturing the power of internet marketing. Right?
Wrong.
Such legalities and restrictions do not make network marketing advertising an impossiblilty for you. And no… you do not need to find another company that is less strict? Their rules could change as well.
You have no doubt heard the expression…
“When life hands you lemons make lemon aid.”
Essentially that means when things go badly make the best of it. But this is not one of those situations. In your case…
These Restrictions Work to Your Advantage
Now before you think that I am some sort of raving optimist… think again. I am a glass-half-full kind of guy. In fact – sometimes I can’t even see the glass. Ask my wife.
I mean it when I say these restrictions are an advantage to you. Because they force you to reevaluate how you do business. Think about it for a moment. If you boil your message down you will probably come up with two points…
My products are great… My opportunity is great…
Guess what. No one cares. Everybody says that. That message is spread all over the internet and nobody is listening. If you say the same thing nobody will listen to you either.
Force yourself out of this mode of thinking. If you do that you could create a network marketing advertising system that will effectively bring eager prospects to you.
So grab your lemons – or what you thought were lemons – and think through this with me.
Network Marketing Advertising is About Branding Yourself
Think about what most new distributors do in the offline world. They do things like…
Refer prospects to their up-line Get prospects in front of company bigwigs Rattle off company statistics of success Have three-way calls with those who have ‘made it’
Things like that.
What is all this? In part it is an attempt to show your prospect that you are believable… That you can lead her to success… That this will really work. In other words – it is an attempt to sell yourself.
And that is exactly what you need to sell.
Network marketing advertising – and any other kind of advertising – is an exercise in selling YOU.
When you get started you are not very believable. Why should anyone take your advice for success? Why should they trust you? All they have to go on is your word that this thing works and you know what you are doing.
They need more to go on. And that is what you give them.
Your network marketing advertising should focus on providing value to your prospects before any of them are your prospects. Show them how they can succeed with or without you. Give them sound advice for building their business.
Not for marketing your products. Not being involved in your opportunity.
Advise them on how to succeed in any business venture. Share your expertise with them.
There are innumerable ways to apply this method. You don’t have to focus on business growth. You may want to focus on products. But don’t mention your products. Give people expert advice on how to use products like yours. Show them how to make their lives better whether they buy your products or not.
This is called branding. It is selling YOU. It is demonstrating that you are someone who can be trusted to lead others to success in whatever arena you chose.
And it is the best way you can succeed with your network marketing advertising.
By: Gregory Post
Network Marketing Online Compared to the Traditional Method
November 29th, 2009
It is pretty difficult to compare the traditional methods of network marketing with the more modern methods. This is because modern methods of marketing have risen high above the old school ways to present more advantages. The modern method of network marketing is mainly pegged on the power of the Internet. The online direction can really be termed as a savior in this business. There are many benefits that an online marketer will have over their counterpart who is offline.
First and foremost, it is important to understand that the Internet has made it possible for most businesses to run smoothly. Network marketing has not been left behind. The modern methods are more convenient for all people no matter where they are. The traditional offline methods on the other hand have proven to be more time consuming. Time is money and this is the reason why great importance continues to be placed on online network marketing.
Online network marketing has led to a wider exposure of businesses and as a result, many who have started online network marketing businesses can look forward to greater returns. The Internet is a platform in which people learn to compare different models as they connect with other business people. This has led to even better ideas which are all inspired by the modern way of doing network marketing. As you already know the more traditional method was mainly dependent on one aspect which was word of mouth.
Word of mouth is not a very effective way to do business because you can only reach so many people. On the modern online platform of network marketing, people can market on a multi-level that will yield dramatic results. This is facilitated by Internet tools like websites and blogs. The online marketing community is one that is growing by the second and, it has become much easier to venture into it all thanks to online network marketing.
All you need today is to be of the legal age of 18 and you can look beyond the horizons of business because the opportunities are vast. This modern model has been tailored to ensure that you are connected with relevant people who are interested in what you have to offer. Within a short time, you will start to see the results since the online platform is one that has a massive audience. In many ways, the modern online network working method is the sure way to success. All in all the greatest advantage that comes with adapting the new way of doing things is the aspect of connecting with your dreams and seeing them come true.
In the traditional method, most people did not actually have faith in network marketing and meetings called by budding entrepreneurs were just forums for convincing people that there was something to look forward to. The modern method has led to a change in attitude and more and more people are willing to venture into the business. Online, you will have opportunity to learn as you grow. You will also gauge yourself and know how to get to success.
By: Mario Remedios