Sunday, August 3, 2008
Hard to beat
As far as career opportunities go, network marketing is hard to beat. It costs almost nothing to start, allows for flexible hours, and paves the way for financial independence. Network marketing -- also known as direct selling and multi-level marketing -- has turned millions of people into successful business owners. But to truly reach their earning potential, network marketers need the right tools.Be a Network Marketing Superstarprovides a proven 26-step program designed to help readers quickly become stars in this fast-growing and profitable industry. Master the six core skills of successful network marketing ,Sharpen their salesmanship ,Become more persuasive, Build relationships, Overcome roadblocks, Radiate positive energy. Find and attract quality people Be powerful coaches and mentors. With equal parts advice and inspiration, as well as helpful worksheets and exercises, this indispensable guide gives network marketers the know-how and confidence they need to join the ranks of the top moneymakers.
Saturday, July 19, 2008
Network Marketing: Just Ten who get Ten who get Ten...
A well-known network marketing company selling herbal supplements held a presentation for prospective recruits. They introduced several spokespeople for the company and showed a brief video about the founder of the company, who had become a multi-millionaire in the business. The prospects were asked one simple question: How would you like to learn the secrets of this multi-millionaire?
Of course, everyone present was interested.
They asked everyone to get out a sheet of paper and write down the names and numbers of ten people they knew.
It would all start with ten, they were told.
Some of the prospects left the room in a huff, in unbelief. It couldn’t be that simple, they thought. Or it was too hard. Or they had been misled. One way or another, these prospects refused to believe that the secret would start with that small list of ten.
But indeed, that’s where it does start. And those who know the business understand why. Those ten may be “warm leads” of friends and relatives--some of whom will be interested while others will not. However, those that are interested will be signed up and then asked to draw up their own list of ten. Of the recruits from that list of ten, they then will be asked to draw up their own list of ten.
On and on the process will continue, theoretically indefinitely, but in reality limited by factors such as the time and dedication.
This is why those who dedicate themselves to the business can be so incredibly successful and build huge downlines. They create a residual stream of income from an ever-expanding circle of influence.
Multi-level marketing benefits from this mathematical progression, making it the ideal business for those who have come to appreciate the benefits of working smarter, not harder. Viewed in this way, it should be not hard for your recruits to find ten. It’s not about conducting a nationwide ad campaign. It’s about working the people that you know--and undoubtedly, you know a lot more than ten.
If you contact ten who aren’t interested, just ask them for the names and numbers of others who might be interested. Eventually you will be able to get your list together.
What did that multi-level millionaire know, that was embodied in this secret? He understood the power of leverage, the ability to use an existing pool of workers to get the job done, rather than having to do the whole thing himself. In the business world you have may heard of the term “OPM”--other people’s money. Successful people do not necessarily have all of the money they need “out of pocket,” but they know where to get the resources.
In the same way, we are in the business of leveraging other people’s labors--not as taskmasters whipping slaves into submission, but as people determined to succeed, and willing to cooperate with others to achieve that success. In the process, we are merely asking them to do what we are doing ourselves, and everyone benefits from the power of leverage.
Of course, everyone present was interested.
They asked everyone to get out a sheet of paper and write down the names and numbers of ten people they knew.
It would all start with ten, they were told.
Some of the prospects left the room in a huff, in unbelief. It couldn’t be that simple, they thought. Or it was too hard. Or they had been misled. One way or another, these prospects refused to believe that the secret would start with that small list of ten.
But indeed, that’s where it does start. And those who know the business understand why. Those ten may be “warm leads” of friends and relatives--some of whom will be interested while others will not. However, those that are interested will be signed up and then asked to draw up their own list of ten. Of the recruits from that list of ten, they then will be asked to draw up their own list of ten.
On and on the process will continue, theoretically indefinitely, but in reality limited by factors such as the time and dedication.
This is why those who dedicate themselves to the business can be so incredibly successful and build huge downlines. They create a residual stream of income from an ever-expanding circle of influence.
Multi-level marketing benefits from this mathematical progression, making it the ideal business for those who have come to appreciate the benefits of working smarter, not harder. Viewed in this way, it should be not hard for your recruits to find ten. It’s not about conducting a nationwide ad campaign. It’s about working the people that you know--and undoubtedly, you know a lot more than ten.
If you contact ten who aren’t interested, just ask them for the names and numbers of others who might be interested. Eventually you will be able to get your list together.
What did that multi-level millionaire know, that was embodied in this secret? He understood the power of leverage, the ability to use an existing pool of workers to get the job done, rather than having to do the whole thing himself. In the business world you have may heard of the term “OPM”--other people’s money. Successful people do not necessarily have all of the money they need “out of pocket,” but they know where to get the resources.
In the same way, we are in the business of leveraging other people’s labors--not as taskmasters whipping slaves into submission, but as people determined to succeed, and willing to cooperate with others to achieve that success. In the process, we are merely asking them to do what we are doing ourselves, and everyone benefits from the power of leverage.
Duplicability - How Network Marketing Businesses Grow
Network marketing is more about leadership than it is about anything else. After all, you are in this business to learn about--and consume-products that you feel strongly about, and then train others to do the same. Without training, many of the people in your downline will be left stranded, without any direction and unsure of just how to get the business going. This uncertainty will trickle down to people in their downline, and before you know it, you will have an ineffective and fundamentally paralyzed organization. It might be easy to want to pass the blame on others, but as any leader knows, any company is ultimately a reflection of its leadership.
There is one word that you will hear bandied about quite often in this business. It is called duplicability.. This means the ability to take what you are doing and duplicate that same success in others. In other words, teach them the same techniques and philosophy that govern how you conduct your business and replicate those same methods in the people in your downline.
Ultimately, you are attempting to duplicate yourself, and this involves more than just transmitting information about how to make a sale. It also requires transferring your own psychological make-up--that can-do, take-no-prisoners attitude that drives you to the levels of success you attain. This kind of duplication requires that the leader spend time with the learners, sharing much about his or her own hopes, fears, aspirations--sharing personal stories about how he or she made the break into network marketing.
Given that this is the case, it should prompt you as a leader to take pause for a moment and consider what it takes for the learners to really connect with you. Can people in your downline relate with you? Do you they see you as one of them, or do they get them impression that they are dealing with someone who is so polished in his presentation that “they could never be like” you? Are you dressed like one of the boys, or are you wearing the same attire you might wear to a professional business presentation in the corporate world?
Some network marketers coming out of a business background forget that in this business, there is no need to try to impress anyone. The further removed you seem to be from your learners--in style, dress, surroundings--the more difficult it will be for them to think that they can duplicate what you’re doing. They’ll pass up your success to certain factors that are not within their control, such as personality type. (“No wonder he’s so successful, he’s a born salesman,” they might say.) Of course, the question as to what is or is not a barrier to relating with your downline is a subjective and relative one, which will dictate exactly what is appropriate for how you dress and come across. But you should at least make an effort to appraise the backgrounds of the people you’re dealing with, and adjust your approach accordingly.
There is one word that you will hear bandied about quite often in this business. It is called duplicability.. This means the ability to take what you are doing and duplicate that same success in others. In other words, teach them the same techniques and philosophy that govern how you conduct your business and replicate those same methods in the people in your downline.
Ultimately, you are attempting to duplicate yourself, and this involves more than just transmitting information about how to make a sale. It also requires transferring your own psychological make-up--that can-do, take-no-prisoners attitude that drives you to the levels of success you attain. This kind of duplication requires that the leader spend time with the learners, sharing much about his or her own hopes, fears, aspirations--sharing personal stories about how he or she made the break into network marketing.
Given that this is the case, it should prompt you as a leader to take pause for a moment and consider what it takes for the learners to really connect with you. Can people in your downline relate with you? Do you they see you as one of them, or do they get them impression that they are dealing with someone who is so polished in his presentation that “they could never be like” you? Are you dressed like one of the boys, or are you wearing the same attire you might wear to a professional business presentation in the corporate world?
Some network marketers coming out of a business background forget that in this business, there is no need to try to impress anyone. The further removed you seem to be from your learners--in style, dress, surroundings--the more difficult it will be for them to think that they can duplicate what you’re doing. They’ll pass up your success to certain factors that are not within their control, such as personality type. (“No wonder he’s so successful, he’s a born salesman,” they might say.) Of course, the question as to what is or is not a barrier to relating with your downline is a subjective and relative one, which will dictate exactly what is appropriate for how you dress and come across. But you should at least make an effort to appraise the backgrounds of the people you’re dealing with, and adjust your approach accordingly.
Finding the Right Network Marketing (MLM) Company
Many factors will contribute to your success as a network marketer. Your diligence and determination to succeed, as with any endeavor, will play a big role. Your ability to lead others, and build solid, meaningful relationships with your downline are important as well. In addition, your communication skills will help or hurt your business. Do you stay in touch with your host company, and do you keep members of your downline informed of the latest product developments? Lastly, do you address all the concerns that those in your downline may have about how to conduct the business, and do you train them well?
However, the first and foremost factor that will determine your success is determining which company you choose to align yourself with. Be sure to give this thought the consideration it deserves. Multi-level marketing has exploded in the past decade, and with it, a whole slew of companies have arrived on the scene selling everything from household products to health supplements. There is no end to the kinds of things you can sell, but you have to be very selective about which company you choose to work with. Do your “due diligence” and choose a company with a proven track record of success and customer service.
First you must consider the reputation of the company you will be dealing with. Some network marketers choose to go with an established company that has been around a long time, an outfit with the reputation of Mary Kay Cosmetics. Others may choose to go with a relatively new company with an established reputation. If you go with a new company, do as much background research as you can. Then examine their product line. Are they selling a well-diversified line of products, or are they staking their success on one “killer” product they want you to sell? If the latter is the case, beware of putting your all of your eggs in one basket. Should the multi-level marketing company selling one main product go belly-up, or experience a short-circuit in its supply chain somewhere, you and everyone in your downline will be stuck. As always, diversification is the key. Established network marketing companies should offer a complete range of products for you to sell.
Also consider their compensation plan. Here’s where many burgeoning network marketers have gotten stuck. They get wooed in by a slick sales presentation from another network marketer and hear the large dollar figures that are potential revenue streams for them once they succeed. However, they fail to study the “fine print” of how the compensation plan works. They are dumb-founded by the complexity of it all, and then are unable to communicate the plan, in all its complexity, to their prospective prospects.
Do you understand how your compensation plan works? Are you required to buy a certain “quota” of products first before you start making commissions, or do commissions accrue right away? These are legitimate questions you should ask of any company you choose to align yourself with, and you would do well to ask them at the start.
However, the first and foremost factor that will determine your success is determining which company you choose to align yourself with. Be sure to give this thought the consideration it deserves. Multi-level marketing has exploded in the past decade, and with it, a whole slew of companies have arrived on the scene selling everything from household products to health supplements. There is no end to the kinds of things you can sell, but you have to be very selective about which company you choose to work with. Do your “due diligence” and choose a company with a proven track record of success and customer service.
First you must consider the reputation of the company you will be dealing with. Some network marketers choose to go with an established company that has been around a long time, an outfit with the reputation of Mary Kay Cosmetics. Others may choose to go with a relatively new company with an established reputation. If you go with a new company, do as much background research as you can. Then examine their product line. Are they selling a well-diversified line of products, or are they staking their success on one “killer” product they want you to sell? If the latter is the case, beware of putting your all of your eggs in one basket. Should the multi-level marketing company selling one main product go belly-up, or experience a short-circuit in its supply chain somewhere, you and everyone in your downline will be stuck. As always, diversification is the key. Established network marketing companies should offer a complete range of products for you to sell.
Also consider their compensation plan. Here’s where many burgeoning network marketers have gotten stuck. They get wooed in by a slick sales presentation from another network marketer and hear the large dollar figures that are potential revenue streams for them once they succeed. However, they fail to study the “fine print” of how the compensation plan works. They are dumb-founded by the complexity of it all, and then are unable to communicate the plan, in all its complexity, to their prospective prospects.
Do you understand how your compensation plan works? Are you required to buy a certain “quota” of products first before you start making commissions, or do commissions accrue right away? These are legitimate questions you should ask of any company you choose to align yourself with, and you would do well to ask them at the start.
Are Network Marketing and Multi-Level Marketing the Same Thing?
As companies all over the world look for ways to market their products to consumers as cheaply as possible, network and multi-level marketing are fast becoming the buzzwords of the industry. In many cases, these two words are being used interchangeably. In an attempt to avoid the rather tarnished reputation it has had bestowed on it, many multi-level marketers are in fact now calling themselves network marketers. Originally, however, these two titles had very different meanings. Before you decide which business opportunity you'd like to pursue, it's important that you understand the differences and the similarities.
Although multi-level marketing is often a used in network marketing, it is actually a completely different concept. When most people mention the term multi-level marketing, the company that immediately comes to mind is Amway.
Multi-level marketers make their money by introducing others into their programs as distributors. They are then paid a commission on the revenue that the person they introduced brings in. This continues as more and more people are added to the downline. Successful multi-level marketers are making money off of other people's work. The idea is that as you continue to recruit new people into the organization, you move yourself up from a worker bee to management. Rather than actually selling any product, you're responsible for additional recruiting, training and motivation for your team as it grows.
In many multi-level marketing programs, commissions are paid way down the line so the more people you and your team bring on, the better. Network marketing on the other hand, actually has a much wider scope. As mentioned above, it can include multi-level marketing but also has many other facets.
Network marketing is quite simply using your relationships to sell a product or service. Most of us do a little network marketing every day. The difference is that we don't really know that's what we're doing and we're not actually getting paid for it. Let's say you saw a great movie and recommended it to all your friends, you are doing network marketing for the theatre and the Film Company that produced the movie. The same goes for a favorite restaurant; article of clothing, favorite album or a good book you just read. Herein lies the difference between network marketing and multi-level marketing.
Network marketing does not have to be multi-level nor does it have to include building a downline. The most successful network marketers today are simply using their relationships to encourage others to purchase specific products. The most prevalent network marketing is happening on the Internet. As companies like Amazon.com introduce affiliate programs that allow network marketers to display and sell their products on their websites, the number of sites being designed simply for this purpose continue to grow by the thousands every day.
Originally offered as a way for webmasters to generate additional revenue for their sites, it's actually become the reason for the site. The difference between this type of network marketing and the kind you're doing when you send someone to the bakery you just visited is that in this case, you're getting paid. Some network marketers, as a matter of fact, are getting paid extremely well.
Although multi-level marketing is often a used in network marketing, it is actually a completely different concept. When most people mention the term multi-level marketing, the company that immediately comes to mind is Amway.
Multi-level marketers make their money by introducing others into their programs as distributors. They are then paid a commission on the revenue that the person they introduced brings in. This continues as more and more people are added to the downline. Successful multi-level marketers are making money off of other people's work. The idea is that as you continue to recruit new people into the organization, you move yourself up from a worker bee to management. Rather than actually selling any product, you're responsible for additional recruiting, training and motivation for your team as it grows.
In many multi-level marketing programs, commissions are paid way down the line so the more people you and your team bring on, the better. Network marketing on the other hand, actually has a much wider scope. As mentioned above, it can include multi-level marketing but also has many other facets.
Network marketing is quite simply using your relationships to sell a product or service. Most of us do a little network marketing every day. The difference is that we don't really know that's what we're doing and we're not actually getting paid for it. Let's say you saw a great movie and recommended it to all your friends, you are doing network marketing for the theatre and the Film Company that produced the movie. The same goes for a favorite restaurant; article of clothing, favorite album or a good book you just read. Herein lies the difference between network marketing and multi-level marketing.
Network marketing does not have to be multi-level nor does it have to include building a downline. The most successful network marketers today are simply using their relationships to encourage others to purchase specific products. The most prevalent network marketing is happening on the Internet. As companies like Amazon.com introduce affiliate programs that allow network marketers to display and sell their products on their websites, the number of sites being designed simply for this purpose continue to grow by the thousands every day.
Originally offered as a way for webmasters to generate additional revenue for their sites, it's actually become the reason for the site. The difference between this type of network marketing and the kind you're doing when you send someone to the bakery you just visited is that in this case, you're getting paid. Some network marketers, as a matter of fact, are getting paid extremely well.
Will Network Marketing Last?
Network Marketing: The beginning or the end?
For those us who have not yet joined the Network Marketing craze that has been sweeping our nation for the last twenty years, the questions remain "Can I really make any money working from home? And, If I didn't get in on the bandwagon in the beginning, is it too late?" The answer is a resounding yes - you can make money working from home and no, it's definitely not too late.
There are currently over half a million people in the United States that are millionaires. Over 20% of them have made their fortunes in the Network Marketing Industry. It is becoming more and more apparent that this phenomenon is not only here to stay but it's getting better and stronger every day. Multilevel or network marketing is one of the only businesses available that allows a person with potentially no resources to start their own business with absolutely no limit on their financial success. In the old days, many of us viewed network marketing as a scam and unfortunately many schemes lived up to that title. There are always bad apples in the bushel and this industry was no exception. The negative side to this business, however, was two-fold.
Obviously the worst scenario was the unsavory chap who decided to jump on the gravy train and easily took thousands of dollars away from well-meaning folks who just didn't do their research. If the equation is correct, every person that got taken in on a get rich scheme told ten other people about their unfortunate experience. Let's face it, we all know somebody got stuck with hundreds of dollars of worthless products and watched their dreams of financial success go right down the drain. Any thoughts we may have been entertaining about taking a chance on finding financial freedom working from home went right out the window.
The other group responsible for solidifying the unsavory reputation of network marketing were the folks who truly believed that network marketing required nothing more of them than filling out the initial membership agreement. Hundreds of thousands of people were led to believe that all they really had to do was join and then sit back and watch their downlines and their paychecks grow. Seriously though, as a society, we have a great difficulty taking responsibility for our own actions.
Consequently many of these folks blamed their failure, not on their own lack of commitment but on the industry itself. This is a business that has to be taken seriously and worked as such. If you're planning to sit on your couch and collect the money from your mailbox, odds are you're not going to be successful. As more and more professionals become frustrated with corporate America, however, the industry will begin to benefit and continue to grow.
Network marketing of today is not a get rich quick scheme. To be successful in this industry, you have to be willing to work and work hard in the beginning. To its credit, network marketing has been able to overcome most of its lack of credibility and has regained its respectability in the eyes of the consumer. Courses on this growing trend are actually being taught in some of our most prestigious colleges and universities. Advancing technology has made it easier for potential network marketers to research legitimate opportunities and the introduction of the internet in this industry has helped the reputable companies move to the forefront.
The actual beauty of this industry lies in the concept of relationship selling. In our high tech world, consumers are tired of the lack of personal service and crave the opportunity to form one-on-one relationships with the purveyors of the goods they purchase. Who better to buy from than our friends, the people we trust and see on a regular basis? It only stands to reason then; that as the advancements in technology continue and consumers continue to be alienated from the personal touch they require the network marketing industry will grow exponentially.
Selling Yourself: The Key to Successful Network Marketing
If you've been working your program for a while and just aren't generating the results you need, it's time to take a step back and analyze just what it is you're trying to sell. If you're sending out emails and e-zines and newsletters like all the others that hit email boxes on a regular basis, odds are you're on the wrong track. Marketing pieces that promise financials rewards, the freedom of owning your own business and ground floor opportunities, will not return interested prospects. The key to successful network marketing is actually much simpler. People do not like to be sold but they do like to buy and they will buy from people they like, trust and respect.
Now, sit down and think about that for a minute. Your potential prospects don't really care about the products or the compensation plans. What they're looking for is someone that they can go into business with. Someone they can count on for motivation when the going gets rough and someone that has already done what they're trying to do and has done it successfully. So, go back to the drawing board.
Think about who you are and what you can do for the people who decide to take advantage of your opportunity. Think about what the program has done for you and how you've made it work. Reflect upon your training and identify what you liked and what you didn't. Think about building relationships and lasting friendships, think about how rewarding it would be to help others like yourself move towards financial freedom. And then write it all down. Make a list of things that you personally can offer to the people you recruit and bring into your business and then using that information, write your letter.
Don't make false promises or hype it up. People are ignoring those messages by the boatloads. Concentrate on sincerity and warmth. Think partnership. Once you've written your letter and are ready to assemble your packet, it's time to take a closer look at who your information says you are. We're not talking about the words now; we've already fixed that problem.
The appearance of your information, however, sometimes says more about you than the actual print. Is your information presented professionally? Does it tell your prospects that you're making money and thereby have it to spend or does it say you're barely making it and trying to get by? Are you having your materials printed professionally or simply making black and white copies? Are your envelopes personally addressed or do they look like standardized junk mail? Do your packets make prospects want to work with you? If not, it's time to go back to the drawing board. Keeping all of the above in mind, make the necessary changes.
Even if you're not yet rolling in money, you've got to be able to make it look like you are. Simply cutting back the number of packets you send out while making sure to maximize the ones that you can afford will immediately increase your actual return on investment while making your information the one that actually stands out in someone's mailbox. These tips are not rocket science and with a little time and a little more effort you will begin to the results. Pass your success on to your downline and in no time at all, you'll be able to sit back and enjoy the rewards of owning your own successful network marketing business.
Now, sit down and think about that for a minute. Your potential prospects don't really care about the products or the compensation plans. What they're looking for is someone that they can go into business with. Someone they can count on for motivation when the going gets rough and someone that has already done what they're trying to do and has done it successfully. So, go back to the drawing board.
Think about who you are and what you can do for the people who decide to take advantage of your opportunity. Think about what the program has done for you and how you've made it work. Reflect upon your training and identify what you liked and what you didn't. Think about building relationships and lasting friendships, think about how rewarding it would be to help others like yourself move towards financial freedom. And then write it all down. Make a list of things that you personally can offer to the people you recruit and bring into your business and then using that information, write your letter.
Don't make false promises or hype it up. People are ignoring those messages by the boatloads. Concentrate on sincerity and warmth. Think partnership. Once you've written your letter and are ready to assemble your packet, it's time to take a closer look at who your information says you are. We're not talking about the words now; we've already fixed that problem.
The appearance of your information, however, sometimes says more about you than the actual print. Is your information presented professionally? Does it tell your prospects that you're making money and thereby have it to spend or does it say you're barely making it and trying to get by? Are you having your materials printed professionally or simply making black and white copies? Are your envelopes personally addressed or do they look like standardized junk mail? Do your packets make prospects want to work with you? If not, it's time to go back to the drawing board. Keeping all of the above in mind, make the necessary changes.
Even if you're not yet rolling in money, you've got to be able to make it look like you are. Simply cutting back the number of packets you send out while making sure to maximize the ones that you can afford will immediately increase your actual return on investment while making your information the one that actually stands out in someone's mailbox. These tips are not rocket science and with a little time and a little more effort you will begin to the results. Pass your success on to your downline and in no time at all, you'll be able to sit back and enjoy the rewards of owning your own successful network marketing business.
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